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Chinese entrepreneur Sam Ling and his partner spent 2.35 million US Dollars in 2015, on a bid on a private lunch with one of the richest man in the world. This richest man was no other than Warren Buffett, whom Sam Ling still considers his idol. The main purpose of such a costly and unusual lunch was that they were hoping to get some real time advice from the legendary investor in terms of their cryptocurrency index project which could lead to nourish their future investment plans in the same direction. Even today, the 31-year-old Sam Ling still uses the photo of that memorable buffett as his phone’s wallpaper to pay a debut to the legendary Warren Buffet however, his present day intentions are quiet thrilling as now he has a motto of beating his hero on the sticky grounds of cryptocurrency.

cryptocurrency index fund

In Spite of such “Deadly” intentions, Sam Ling, now founder and CEO of Supwin Financial Services Group exclaimed in his interview with CNBC that Buffett is still his idol, he has been pursuing and studying his investment strategies for so many years just as a loyal fan of his without any ill intentions.

 

In fact that loyalty of Sam King did not stop him from betting even something bigger than his last bet on Buffett. According to Sam’s opinion the world’s third-richest person Warren Buffett will come to a bad ending due to cryptocurrency index fund.

What Did Sam Learn From Warren Buffett?

Many people have asked that question from Sam Ling which also seems to be a key to his present day success. The answer of Sam to that question is very simple, If there’s anything really learned from Buffett, it was just an appreciation for index funds. Ling, however, innovated that outlook to his own concept of digital currency kingdom.

 

The term cryptocurrency index may be new for some our readers as it is not commonly used. The fact is that most of the cryptocurrencies i.e; bitcoin are too much unstable to become a trusted mode of investment, and that’s why investors like Sam Ling have started to launch cryptocurrency indexes of their own in order to bring their crypto investments to a relatively safer mode. It has been noted that over the past few months, Sam Ling’s cryptocurrency index has a lower decline rate as compared to the bitcoin. That ratio pertains to the corrections, on the other hand outperformed bitcoin by 50 to 80 percent during upsurges.

Further Progress By Ling

Ling has not stopped yet, he has finalized his plans to launch the “BB Index”, which is an advanced form of that kind of index and will consist of a family of 26 cryptocurrency indexes. These indexes would be further grouped by market capitalization according to their categories and strategy. These indexes would range from a “Blockchain Top 7 Index”  to a “Blockchain Top 50 ex top 20 Token Index”.

 

The major difference between these two kinds of Blockchains is that the “Blockchain Top 7 Index” covers the largest cryptocurrencies while “Blockchain Top 50 ex top 20 Token Index” is used to represent mid-cap assets. All these indexes are updated every three minutes on the company’s official website according to Sam Ling.

A Summary Of Buffet’s Conversation With Ling

Later Sam Ling shared a summary of his conversation with Buffet. He related that Buffett discussed a lot of core issues with him and his friend during that precious lunch, but in the end, he just gave them a piece of advice that they should focus on what they were doing and were already successful at. Ling further recalled the conversation which took place ten years ago in which Buffett made it clear that he believed in the craze of cryptocurrencies which will not come an end and will keep on increasing with the passage of time.

 

When asked what were his thoughts about the fate of cryptocurrencies, Ling exclaimed that in his opinion cryptocurrencies would meet a very bad ending and those who are investing in it including his idol Buffet, they would have to pay for their overconfidence.

 

On the other hand Ling also stated that he was quiet confident that the BB Index devised by him would even beat traditional crypto investor including Buffett. He further stated that Warren Buffett just won a 10-years bet stating that an index fund would outperform a collection of hedge funds over that time. Now, Ling has a bet that his cryptocurrency index will outperform Buffett’s portfolio over the same period of time.

 

According to a correspondent of CNBC when they reached out to Warren Buffett’s office in order to know his views in this regard, they could not receive any satisfactory response.

 

We are waiting for your worthy opinion in the comments section below.

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It’s Confirmed! Twitter Is Going to Ban ICO Ads

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On Monday, the social media giant Twitter confirmed the rumours that it is going to follow Google and Facebook by banning cryptocurrency advertisements from the website.

According to the announcement, ICO ads, as well as advertisements related to exchanges, token sales, and wallet services (apart from public companies that are registered on the prime stock markets) will be removed from the site. A spokesperson said that the aim of this move is to make sure the safety of Twitter’s community.

twitter ico news

New Twitter Policy

This Twitter ICO news went viral as the social media giant clarified:

“We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of ICOs (Initial Coin Offerings) and token sales will be prohibited globally.”

This latest twitter policy will be introduced within the next 30 days. But on the other hand, Twitter will be limiting advertisement for cryptocurrency exchanges in Japan to those, who are under the observation of the national financial regulator.

There were many rumours before that Twitter would ban advertisements related to cryptocurrency especially, when it was first reported by Sky News that such content would be banned from the Twitter’s platform within the next two weeks.

What Jack Dorsey has to say about it?

CEO of Twitter, Jack Dorsey, has conceded the proliferation of cryptocurrency scam accounts earlier, and pledged to crack down on bot accounts in search of cryptocurrencies from others.

Though, some of the site’s response exertions have led to account issues for standard users. According to Twitter, safety for users is the main motivator behind this ban. Few actions were also taken by Twitter in order to prevent accounts related to cryptocurrencies from engaging with others in an illusory manner, but then again it met calls to ratify more actions, subsequent to the bans from Google and Facebook.

Impact of Twitter’s Announcement on Crypto-Market

Cryptocurrency markets were already going through a slump, but after the announcement of Twitter banning cryptocurrency advertisements, the market fell even more.

While talking to Reuters, Kapronasia’s director of financial consultancy, Zennon Kapron mentioned the perils to Twitter itself and said:

“With the increasing number of ICOs coming to market, it is an impossible task for anyone, much fewer platforms like Twitter or Facebook, to keep on top of which ICOs and cryptocurrencies are genuine versus frauds… Although certainly, ICO advertising must have been a significant source of revenue for Twitter, the repercussions of fraudulent activities just weren’t worth the risk.”

In January 2018, Facebook restricted cryptocurrency advertising while the ban from Google was announced at the beginning of this month.

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Bitcoin market value

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Cryptocurrency enjoys a notable increase in its price. Especially when it crosses the gold and dollar price. It became the center of attention to the media and another financial sector. Recent price of bitcoin is,

Bitcoin market value

We know that bitcoin market value varies from time to time. Its price is not stable. Which factor is contributing in price fluctuation of the bitcoin? How they create a positive or negative impact on the users. In this article, we will discuss the factors creating the strong impression on a price of the bitcoin.

Government rules & regulation

When government regulates the bitcoin, it declares whether bitcoin is legal or illegal. If it is legal by the government, they will guide people on how to use bitcoin.

There is a large group of people who afraid of government regulations. Whereas, the government controls the circulation of digital currency in the country. They are not able to decrease the amount of money but they have the ability to generate more money. Bitcoin store in wallet addresses. In addition, Which is being the cause of rising in the value of bitcoin.

Now, the scenario is that government declare that only they will mine cryptocurrency. And, only government’s currency will legal in the country. Accordingly, we have the situation od currency same as before cryptocurrency. The government will have the authority to mint all money and shut down the system. Furthermore, they can change the code for more currency mining when. There is a lot of scary things like above discussion. That is why people get afraid of these new regulations.

People who are in favor of bitcoin regulation will buy more bitcoin. Whereas, who are afraid of government regulations might start selling of bitcoins in the response to the news like NYDFS BitLicense. That is a factor of government regulation.

Shopper  

When people use bitcoin as a currency. They show to the world that they admire the credibility of the bitcoins. People do transactions including sale and purchase with bitcoin. The companies like Dell, New Egg and much more allow its customer to purchase their products pay in bitcoin. In addition, Xapo introduces a new credit card to spend with bitcoin market. Even though shoppers don’t have the direct influence on price. Indirectly or directly they help to spread bitcoin around the world. Therefore, shopping factor of the bitcoin has offered a large market with no short-term influence.

Mining

All the transactions of bitcoin are because of the bitcoin mining. The network is secure because the more miners, the network will be more secure. Where no one owns the 51% of the network. A 51% attack is only possible in case of one entity own all mining power on a network. Basically, 51% attack is potential panic selling. Which being the factor of bitcoin price decrease in value. Some miners keep saving their bitcoin while other cash it out.

News  

News is the most effective part of any society. People who read news can also have an ability to act on it. For example, if a person has 51% mining power on the network. And, this news spread from a television channel. In addition, the reaction of the people regarding bitcoin value will entirely change. Few of them get panic and sell their bitcoin and other will try to overcome this difficulty. This factor of news provides articles to the public about the fluctuation of bitcoin prices.

Dumping to fit

For example, a business wants to sell a number of bitcoin to pay business expenses. In addition, they don’t want to own the bitcoin. This discarding will tend the bitcoin to depress state. It all depend on the company’s capacity of selling bitcoin. This factor is basically a depression in the bitcoin value.

Selling on exchange

If a person has 1000+ bitcoin and sells them in exchange, a price of the bitcoin decrease automatically.

Buying on exchange   

The number one thing that influences the value of a Bitcoin is how much someone is willing to pay for one Bitcoin, of course. When you place an order on an exchange in order to buy Bitcoin, you decide what is the value of a Bitcoin to you. The more people who are willing to buy Bitcoins, the greater the chance for an increase in the overall value of a Bitcoin. Sellers sell to the highest bid price first, so whoever is the highest bidder at the moment, is the one who decides the value of a Bitcoin at the moment.

The Bitcoin price factor of someone buying Bitcoins on an exchange is always a rise in the value of bitcoin.

Good luck!

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Bitcoin Nears Bear Market Territory

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Bitcoin value is currently at 2502.00 US dollars, means down about $500 from its peak of $3000 at 12th June. Accordingly, other cryptocurrencies such as Litecoin and Ethereum also face the similar decline in values. The thing is, overall cryptocurrencies trend has been gradually dipping from last few weeks.

It is really odd to put old security terms to unique digital currencies’ procedure, which makes it clear that digital market is approaching the conventional 20% failure. The bubble was the most repeated word used by the experts. In addition, two weeks before the peak of it, Robert Hackett also diagnose a bubble.

Some important features of a bubble in technology race are, it should be craziest, certain and unjustified in reality. Matt Prusak the famous strategist brings some example of “dump money”. Few of them are entertaining if you are not facing any losses right now. Prusak also points out the beginners in the bitcoin market.

Creator of #2 cryptocurrency Ethereum Dmitry Buterin has been watching for correction and tweeted,

For more details, Prusak also point out the BroBible’s post “What is The Etherum [sic] Cryptocurrency [sic] and How Will It Make You Rich AF?”  which was with the spelling mistake, as the digital market was heading down.

Prusak elaborates many other proportions of crypto-mania but we’ll mention here one more. Through the course of lead-in, Ethereum’s value has been tracked by Ethereum classic’s values. While ETC is a fork whereas ethereum is a cryptocurrency with worldwide adoption.

Prusak says,

“highly likely the price [of ETC] has been driven significantly higher by uninformed investors simply not understanding the difference between the two – similar to how adding “.com” to a company’s name in 1999 sent stock prices up on average 74%.”

Basically, this is the revolutionary stuff, long-term potential for buying opportunity.

Tags: bitcoin value, bitcoin market, bitcoin exchange

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bitcoin-1MB block is dangerous

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1MB block is dangerous to Bitcoin

04.07.2017, Barry’s Silbert’s New York agreement receive a new criticism in form of blog from Luke-jr. well-known Bitcoin core developer.

This post came before SegWit2x’ day- the code that carries the roadmap settled upon at Barry’s meeting-entered beta phase.

He says about the Bitcoin’s future with SegWit2x’s. “4–8MB block sizes are not sane. Even 1MB blocks are already clearly dangerous to Bitcoin.” In addition, “I cannot foresee myself consenting to the hard fork proposal under almost any circumstances, except perhaps with a soft fork to limit the size to something reasonable.”

By adding the whole SegWit2x phenomenon, Luke-jr is another source of criticism. He adds, “distraction from the upcoming BIP148 soft Fork, which is already irreversibly deployed to the network.”

Barry’s had hard struggle from the beginning. Accordingly, he also contributes in the meeting, especially Roger Ver showing the sign of U-turn.

The concluded word

Luke-jr was cautious to note any SegWit2x scheming would likely initiate and finished with NYA Bitmain participant. In that scenario, he comes to and ends with the point, “I don’t mean to imply that all the participants to the NYA have this goal [distraction from BIP148] in mind! But rather that the design of SegWit2x is such that it fits this purpose.” In addition,“Bitmain may very well have done this intentionally. but it seems unlikely anyone else intended it.”

Complete detail is available on Twitter,

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