View: 415
Want create site? Find Free WordPress Themes and plugins.

According to the Federal Reserve Governor, Lael Brainard, the central bank is examining the intense volatility of cryptocurrencies, especially Bitcoin, however, she doesn’t think that virtual currencies stance a present threat to financial stability of US.

These remarks were made by Brainard on 3rd April, during a speech at Stern School of Business in New York. She alerted investors to be careful about speculative asset classes, like; cryptocurrencies.

Brainard said:

federal reserve

“One area that the Federal Reserve is monitoring is the extreme volatility evidenced by some cryptocurrencies…. For instance, Bitcoin rose over 1,000 percent in 2017 and has fallen sharply in recent months. These markets may raise important investor and consumer protection issues, and some appear especially vulnerable to money-laundering concerns.”

“As in other highly speculative markets, individual investors should be careful to understand the possible pitfalls of these investments and the potential for losses. But it is less clear how the valuations of cryptocurrencies currently could pose a threat to financial stability. Nonetheless, we will continue to study them,” Brainard continued.

Risk Factors

According to Brainard, the perils related to the banking sector and traditional asset classes like bonds and stocks are balanced by the past standards due to the modifications that were introduced after the financial crisis of 2008.

She also said:

“Credit growth is robust, and banks are registering strong profitability relative to their international peers.”

Jerome Powell Views

The opinion of Lael Brainard on cryptocurrencies resounded the thoughts of Jerome Powell, who is the Federal Reserve chairman.

In November 2017, Powell said:

“I have nothing against bitcoin… We generally look at some of the risks of cryptocurrencies associated with money-laundering and those sorts of issues, but we’re not broadly opposed or supportive of alternative currencies.”

Latest comments from the Federal Reserve follow the price swings of bitcoin and other digital currencies, that sustained momentum for few weeks. However, during the past four weeks, the price of bitcoin plunged more than a few times.

Although these inconsistent fluctuations in the price of Bitcoin have scared some investors, cryptocurrency “preachers” still remain bullish, as they say, that the recent slump in the market is momentary, and only the result of “sharp regulatory scrutiny” in major markets such as South Korea.

Bitcoin Prediction

The Former COO of Skype, Michael Jackson said:

“Regulators seem open-minded and are now working to eliminate the risks for consumers…. So, I see no reason why bitcoin shouldn’t fulfil its dream. And if it does, then recent price falls will appear trivial.”

Jackson earlier said that the price of bitcoin could shoot up to $1 million, as he believes that its value as a payment method is irrefutable.

 

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

Share Your Toughts

View: 443

ICO Market is Skyrocketing! How Are Regulators Going to Handle It?

Want create site? Find Free WordPress Themes and plugins.

Nowadays, ICOs (Initial Coin Offerings) are among the most contentious fundraising techniques. Though, based on market figures, it looks like there’s no halt in raising money with ICOs anytime soon.

ICO Market Analysis

The very first successful ICO event took place in 2014 by Ethereum. However, the year 2017 saw some of the biggest ICOs, such as Filecoin and Hdac, that raised more than $250 million only with their token sales. But the trend seemed to slow down by the end of the year, with a huge number of failed ICOs.

According to a report, out of 169 projects, only 69 managed to raise money through token sales, effectively. As the trend started to fade away, it grabbed the attention of protruding figures of the blockchain sector.

ICO market

Trends

By the end of 2017, the failure of ICO trends rebounded with force and achieved a whole new level in the starting of 2018. More than $1 billion worth token sales were registered back in December. However, in a mere three months of 2018, the blockchain firms raised more than $5 billion by selling tokens.

The number of ICOs are skyrocketing. Plus, 50 ICOs are now being registered every month, whereas in 2017, not a single month saw ICOs more than 26, except the month of December.

 

Scams

People with dubious business models saw a huge opportunity in the unregulated ICOs market. Major projects such as Bitconnect, was shut down after it reached a $2.5 billion market cap. Furthermore, the intense funds on digital platforms turn out to be an easy target for hackers and according to a report, 450 ICO projects were attacked in 2017.

Problems Faced by Regulators

ICOs are gaining huge popularity and have become a huge concern for regulatory authorities around the world for two main reasons:

  • The vulnerability of the investors.
  • The cash-flow to an unregulated sector.

Though, the complex decentralized architecture of the blockchain has made it quite hard to execute any regulations on the wild-market, the largest ICO market, US, has recently become the centre of the regulatory discussion on cryptocurrencies and ICOs. Deprived of any real plan, numerous US agencies, like SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) are trying their best to explain the rules according to their own partial understanding.

Is there any solution?

Well, it’s quite clear that the ICO market is far-off from coming to a “full-stop.” Though, on the other hand, this also means that more projects are going to target investors. However, in an attempt to regulate the market, the SEC keeps on banning legit ICOs.

Did you find apk for android? You can find new Free Android Games and apps.
View: 530

Bitcoin vs. USD – Why Bitcoin wins this battle

Want create site? Find Free WordPress Themes and plugins.

As Bitcoin goes through another day reaching a new mark and huge publicity, it is important to inform the public what makes it so different from our paper money.

This post will outline the pros and cons of both the currencies and explain why Bitcoin is achieving all the fame and fortune.

USD and other Fiat Currency Systems

Fiat means “simple” which is pretty self-explanatory. Paper money was introduced into the system in 1861 to help fund the Civil War. The printing of paper money is regulated by a country’s central bank in order to keep the flow of money in line with monetary policy. Moreover, the value of fiat currency is not determined by what it’s made of, rather it is the economic laws of supply and demand that dictate its value. They are occasionally updated to new versions containing security features difficult to counterfeit to create illegal copies.

Advantages of USD

  • Can be easily transferred, stored and claimed. You can easily get your cash in physical form with just a single trip to the bank.
  • It has the ability to inflate and deflate accordingly to adjust the impact economic problems.
  • Metals such as gold, are free to be used for commercial purposes, by not being tied to a currency.
  • It is very divisible, flexible and digitally usable. (with the help of credit cards)

Bitcoin & the future of money

Bitcoin was created as a cryptocurrency, by an entity known as Satoshi Nakamoto. People from all over the world can exchange products, credits, and services instantly- without the need for a bank.

The Bitcoin network relies on the blockchain, which is a shared public ledger. It is sort of a database design, where all the nodes hold a copy of the entire blockchain history. These nodes are distributed around the world and attempt to solve complex mathematical equations to confirm a transaction and record it in the blockchain.  The nodes are run by mining pools, bitcoin enthusiasts etc. with high computing power. Therefore, the more the computing power on separate nodes, the more secure the network is.

Advantages of Bitcoin

  • Bitcoin transactions can be carried out instantly. Money can be sent with ease from one end of the world to the other easily.
  • No or very less transaction fees. Bitcoin transactions are extremely cheap with very little or no transaction fees to be charged.
  • It is infinitely divisible. At the moment, 1 bitcoin can only be broken down into million smaller units, which are known as satoshis.
  • There is nothing hidden with Bitcoin, it is completely transparent. We are aware of the supply of bitcoins and with that, we can even predict its future.

 

Should Bitcoin be preferred over digital currencies?

Whenever something new is introduced, there is always a certain amount of fear and resistance present in traders. However, with the rapid growth Bitcoin has shown in the past few years, it is becoming every investor’s need. Even a small investment can show twice the doubling of your deposit in a relatively short time period which is not possible with traditional currencies. Bitcoin has stabilized a lot in the past year and with its short supply and increasing demand, it is definitely not slowing down anytime soon.

To be honest, this is up to your personal preferences. Also, people invest in bitcoin because it shows a good profit in a short amount of time, some do it to learn more about the cryptocurrency world while others just enjoy it. Due to its popularity and drastic growth, I’d recommend everyone to get acquainted with it.

Here’s a graphical representation of the differences of Bitcoin vs Paper money outlined:

 

Tags: bitcoin future, bitcoin news.

Did you find apk for android? You can find new Free Android Games and apps.
View: 519

“Bitcoin Will Disrupt Gold” – Winklevoss Twins

Want create site? Find Free WordPress Themes and plugins.

According to Winklevoss Twins, the price of Bitcoin has the possibility to rise up to 4,000%, which will allow the leading cryptocurrency (Bitcoin) to achieve the market cap of $4 trillion. Tyler and Cameron Winklevoss became the very first verified “Bitcoin billionaires” as they were among those investors who first invested in Bitcoin when it had the worth of only $120.

Bitcoin has been auspiciously compared to gold by the Winklevoss twins. They somehow anticipated that the digital asset (Bitcoin) will one day surpass the yellow metal. Also, Cameron Winklevoss said that the recent slump in the price of bitcoin didn’t cause him to dither from his sanguine prediction.

At Milken Institute’s MENA Summit, Winklevoss twins said that they still believe bitcoin solely can disrupt gold. “It’s even better than gold,” they said. Scarcity makes gold and Bitcoin is fixed in supply which makes it more durable, more portable and a lot better than scarce.

 

He said that based on this evaluation, the market capitalization of Bitcoin could end up similar to that of gold, which has the worth of $7 trillion at this time. He anticipated that the price of Bitcoin would set above $320,000 and its market cap would hit at least $4 trillion, and this has made the recent correction of Bitcoin, a striking buying opportunity.

He added, that today’s $100 billion market cap might have been almost $200 billion last week, and that’s what makes it a buying opportunity. The reason that it has got the capital appreciation of 30-40 times is that if we look closely at today’s gold market, it’s got a worth of $7 trillion. Many people have started to see that, and now they distinguish the store of value assets. So, it is still an underappreciated asset despite the fact, that its price has seen ups and downs in the last few weeks.

The co-founder of Winklevoss Capital notified that it’s obvious, this transfer of assets won’t take place immediately, however it could come to an end within the next 10 or 20 years. Tyler Winklevoss agreed with Cameron’s anticipation that “Bitcoin would disrupt gold” and added, that he believes that fiat currency will be eventually replaced by the cryptocurrencies.

He added that cryptocurrencies are not that significant for human-to-human transactions, however in machines-to-machines market economic value, they’ll have to plug into protocols such as Ethereum and Bitcoin. Later he elucidated that, given the innumerable applications of this technology, a lot of critical analyses from Bitcoin sceptics are specious. He concluded by saying, that the criticism of Bitcoin is a “failure of the imagination.”

Did you find apk for android? You can find new Free Android Games and apps.
View: 444

A case of brilliant burglary – Alphabay makes $1million in 14 months

Want create site? Find Free WordPress Themes and plugins.

17 July 2017, Phishkingz details the method of the stealing Bitcoin in his recent interview. He has generated $1 million during the time period of 14 months.

By stealing bitcoins Phishkingz generates $1 million during a year. Phishkingz claims that he has traded almost 500 bitcoins on Localbitcoin in last 14 months. Accordingly, most of them were generated through the process of phishing.

Phishkingz is the vendor of the dark market and his decision to start phishing was made the discovery of an error on Alphabay’s forum. In addition, that error is “that allowed [Phishkingz] to see new members the second they joined.” The hacker has the ability to make direct contact with new members of the platform, “send [ing[ them to my link with a verification process.” Then, “able to obtain the login details syncing, and the mnemonic phrases, as well as any PGP private key and password and pin code.”

Accordingly, “save a bookmark using blockchain.info… [and] highlight 50 [addresses] at a time every 20 minutes checking for deposits.” A huge number of extractions would be treated manually, despite initial experimentation with bots.

Are admins really caring about their customers?

In his interview, Phishkingz describes that Alphabay’s moderators are providing little support to his victims. “The admins didn’t really care about their customers, and it only took opening a support ticket with a problem to learn this. BM (Big Muscles – an Alphabay moderator) especially is a stupid one. He would let me into accounts for 50% if I provided mnemonic phrase knowing I had phished the account in the first place.”

He also claims to, “have moved to Dream Market and already made 4 BTC since yesterday launching the new site.”

The phisher’s number of hacking Bitcoin is increasing rapidly. Tezos ICO attracts the phisher’s attention. While other hackers are creating websites with fake ICOs, victim’s computers through downloading nasty software masked as project white paper. In addition, Bitcoin and other cryptocurrencies seeing unprecedented media exposure. While increasing numbers of the hackers and scammers indicate an unfortunate and predictable consequence of digital currencies’ acceptance.

Did you find apk for android? You can find new Free Android Games and apps.
View: 470

Not Spending Them Coins Just Yet!

Want create site? Find Free WordPress Themes and plugins.

Enjoy this picture of an adorable little girl holding onto these bitcoins like her life depends on them.

 

Image credits: google.com/images

Did you find apk for android? You can find new Free Android Games and apps.