Bitcoin rises, so people Google ‘bitcoin,’ so then bitcoin
Bitcoin rises, so people Google ‘bitcoin,’ so then bitcoin
What to Expect from Bitcoin After Fed's Monthly Meeting
Analyst: Now May Be One of the Top 3 Greatest Bitcoin
Everything You Need To Know About The Bitcoin Scam And
'Bitcoin [BTC] is Starting to be a Macro Trade', says
LOEx Market Research Report on July 22: BTC has failed to break through $9,400 in the past three weeks
[Today's Hot Tips] 1.[Summary of the main points of the Filecoin Miners Conference: 100,000 F rewards will be distributed to the top 20 miners] On July 22, the Filecoin miner community teleconferencing was held at 9:00, Beijing time. The main points of the conference are summarized as follows:
The hashrate in the reward test is calculated based on the original byte storage, regardless of the difference between real data and verification data.
An important standard for reward test is the success rate (pass/fail rate) of real storage transactions. To obtain test rewards, in addition to meeting the ranking requirements, you must also ensure that the transaction success rate is higher than a standard (standard details to be determined).
The life cycle of the sector miners must ensure that they can convert the committed space into the storage of real customer data through sector upgrades.
The newly added 100,000 F rewards in the reward test will be packaged and ranked according to the whole network block, and will be distributed to the top 20 miners with reference to the reward structure of the main network.
The real trading in the reward test will be completed by the official trading robot, which will be deployed in Europe.
2.[Vitalik Buterin: Even if the expansion problem is no longer so important, PoS is still very important] On July 22, some Twitter netizens said that the Ethereum Gas fee increase has become ubiquitous. Although some developers said that the Ethereum beacon chain will be launched in November, it will take several years to completely solve the problem. Some netizens also said that the Ethereum Layer 2 expansion protocol, such as Optimistic Rollups and zk-rollup, has done a good job, and may not need ETH 2.0. In response, Vitalik Buterin responded that even though expansion is no longer so important, PoS is still very important. 3. [OMF is about to usher in the cloud mine halving] According to news of LOEx on July 20, OMF (OrtaMineFund) official plan, OMF is about to usher in the cloud mining halving, and all OMF angel holding smart cloud mines will be halved. [Today's market analysis] Bitcoin (BTC)BTC rose slightly from around 9340 USDT in the early morning, rose to 9388.19 USDT and then fell slightly. At present, BTC continues to trade sideways around 9370 USDT. Mainstream currencies basically followed the trend of the market, rising slightly in the early morning and then fell slightly. BTC is currently reported at 9364.7 USDT on LOEx Global, an increase of 0.30% in 24h. Let's take a look at the data on the LOEX main board. The mainstream currencies that have been declining before have generally seen a rise of more than 1%. 1% is insignificant, but it may be a signal for the upswing horn to sound, after all, this round is an overall rise. Although the $9,000 support level has remained strong in the past 50 days, any slight negative indicators will attract more attention from the media and authorities. BTC has been unable to break through the $9,400 level in the past three weeks, leading some analysts to doubt the possibility of a positive breakthrough. We must beware of the increase in the main version, so we must pay attention to its continuous volume performance. If it is an immeasurable increase, it is not necessary to chase it; if it is a continuous increase in volume, we must prepare for the second wave of market launch expectations, and be prepare to attack at any time. So we have to be patient and wait and see. Operation suggestions: Support level: the first support level is 9200 points, the second support level is 9300 integers; Resistance level: the first resistance level is 9400 points, the second resistance level is 9600 points. LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 2 million community members in 24 hours. https://preview.redd.it/djguck53occ51.png?width=610&format=png&auto=webp&s=c5ad3414edbb6c1fd4e33e6d1fe6fa270d5ae267
More Wall Street Breakfast Podcasts » "Despite several issues of importance - national riots, Chinese relations, an ongoing pandemic - the stock market is primarily focused on a single thing: the restart of U.S. and global economic activities," said Jim Paulsen, chief investment strategist at the Leuthold Group. The sentiment led S&P 500 futures to tack on another 0.6% gain overnight as Dr. Anthony Fauci expressed renewed "optimism" about a coronavirus vaccine. On the economic calendar, the ADP Employment Report today will give a fresh read on the extent of the COVID-19 pandemic, while oil climbed 2% on anticipated output cuts at the upcoming OPEC+ meeting. Come on and Zoom! A surge in video conferencing usage saw revenue growth at Zoom (NASDAQ:ZM) jump 169% to $328.2M as the company reported top and bottom line beats for Q1. Zoom also doubled its revenue guidance for the year, pushing up shares as much as 4.5% in AH trading on Tuesday. In keeping with its previous practices, the firm didn't disclose active user numbers, though analysts at Bernstein estimate Zoom's mobile app had 173M monthly active users as of May 27, up from 14M on March 4. Zuckerberg stands firm after walkout Facing internal unrest over the company's gentle approach to moderating posts from President Trump, Facebook (NASDAQ:FB) CEO Mark Zuckerberg told employees he stood behind his decision, one he called "tough" but "pretty thorough." Policies will be reviewed to see if they need to change for the future. Facebook employees particularly took issue with a post by Trump that threatened violence, including the words "when the looting starts, the shooting starts." Similar posts on Twitter (NYSE:TWTR) were flagged for violating policy. Apple is tracking looted iPhones Thieves who made off with iPhones from Apple (NASDAQ:AAPL) retail locations in New York, Los Angeles, Minneapolis, Washington and Philadelphia quickly learned that they were loaded with special security software. On-screen messages displayed: "This device has been disabled and is being tracked. Local authorities will be alerted." The social unrest sweeping across the nation comes just as Apple is in the process of opening more than 100 stores following an extended closure due to the coronavirus pandemic. Digital taxes The Trump administration is opening a "Section 301" investigation into taxes on digital commerce - proposed by a range of trading partners - that could affect revenues booked by tech giants like Facebook (FB), Google (GOOG, GOOGL) and Amazon (NASDAQ:AMZN). The move could ultimately lead to punitive tariffs and heighten the chances of another global trade dispute. France already agreed to postpone its new digital tax until at least the end of 2020 after the U.S. threatened to impose tariffs of up to 100% on imports like French wine, cheese, handbags and porcelain. Will negative rates be needed? Many have doubted that the U.S. could go negative like Japan and parts of Europe, but St. Louis Fed economist Yi Wen says that's what it would take to achieve a V-shaped economic recovery. "I found that a combination of aggressive fiscal and monetary policies is necessary. Aggressive policy means that the U.S. will need to consider negative interest rates and aggressive government spending, such as spending on infrastructure." Wen cited historical examples like President Roosevelt's aggressive fiscal stimulus package during the 1930s and huge surge in government spending once World War II began. Britain news roundup The Shanghai-London Connect program, years in the making, has so far produced only one listing - Huatai Securities (OTCPK:HUATF) - which raised $1.5B last June. China's market regulator has now approved a fresh listing for China Pacific Insurance (OTCPK:CHPXY), signaling a revival of the program. While the ties could bring the nations closer, other news overnight may go in the other direction. Boris Johnson pledged to let into the country nearly 3M Hong Kong citizens - who are British overseas passport holders - due to China's new national security law, and place them on a possible path to U.K. citizenship. Drug shortages One of the most widely prescribed antidepressant medications in the U.S. has fallen into short supply, according to a new list from the FDA. Pfizer (NYSE:PFE) said some versions of its name-brand Zoloft, such as 100 milligram tablets in 100-count bottles, were scarce because of higher demand during COVID-19, while generics faced shortages of certain ingredients. Zoloft prescriptions climbed 12% Y/Y to 4.9M in March, the most ever in the U.S., according to data compiled by Bloomberg, but receded to 4.5M in April. M&A activity French luxury goods group LVMH’s (OTCPK:LVMHF) $16.2B takeover of Tiffany & Co (NYSE:TIF) is looking less certain, according to Women's Wear Daily. It's the latest big merger said to be on the rocks amid a deteriorating situation in the U.S. market brought on by a COVID-19 pandemic and severe social unrest. Further challenges include spending pattern shifts, the collapse of international tourism and trade tensions between Washington and Beijing. 'Biggest Sale in the Sky' After postponing its annual Prime Day event due to COVID-19, Amazon (AMZN) is reportedly setting up a "summer sale" for June to boost sellers hurt by the outbreak and swimming in inventory. The company told brands it would launch a fashion sale June 22, to run anywhere from 7-10 days, and that participation in the event was "invitation only." It's building landing pages with a working title "Biggest Sale in the Sky," and has asked brands to meet an end-of-Wednesday deadline to submit deals with a discount of at least 30%. What else is happening... Sports betting to the rescue in California? Twitter (TWTR) names Pichette as new independent chairman. Google (GOOG, GOOGL) faces $5B lawsuit over 'private' internet use. FAA boss to testify at Senate hearing on 737 MAX (NYSE:BA). Lyft (NASDAQ:LYFT) trims loss forecast after May rides jumped 26%. Tuesday's Key Earnings Ambarella (NASDAQ:AMBA) -3.7% AH on light revenue guidance. CrowdStrike (NASDAQ:CRWD) +6.2% AH following a beat-and-raise. DICK'S Sporting Goods (NYSE:DKS) +3.7% as e-commerce sales rose 110%. Zoom Video (ZM) +1.4% AH posting Q1 beat, aggressive outlook. Today's Markets In Asia, Japan +1.3%. Hong Kong +1.4%. China +0.1%. India +0.6%. In Europe, at midday, London +1.5%. Paris +2%. Frankfurt +2.2%. Futures at 6:20, Dow +0.8%. S&P +0.6%. Nasdaq +0.5%. Crude +1.7% to $37.43. Gold -0.6% to $1724.40. Bitcoin -5.6% to $9527. Ten-year Treasury Yield +3 bps to 0.71% Today's Economic Calendar Auto Sales 7:00 MBA Mortgage Applications 8:15 ADP Jobs Report 9:45 PMI Services Index 10:00 ISM Non-Manufacturing Index 10:00 Factory Orders
https://preview.redd.it/kkhj7agzz5251.png?width=875&format=png&auto=webp&s=f47007e7923d8f40d98e3ba7d08a31c3729a0bd3 Hello everyone, thank you for your continued interest and support. In the past two weeks, various tasks of TokenClub have been progressing steadily. The product development and community operation progress this week are as follows: 1. TokenClub Events 1)TokenClub & 499Block reached strategic cooperation in live broadcasting On May 28th, TokenClub and 499Block reached a strategic cooperation to jointly build a live broadcast ecosystem in the vertical field of blockchain. 2)520e events When 520 comes, TokenClub launches live interactive interaction. During the event, participate in interactive questions in the live broadcast room or forward the live poster to Twitter and the telegram group, and upload a screenshot to have the opportunity to extract 520, 1314 red envelope rewards https://preview.redd.it/apyee28406251.png?width=1080&format=png&auto=webp&s=9c9798db931ad6611d6c258907120610ae11ff11 3)Text version of live content is abailable on Medium In order to better understand the live broadcast of TokenClub by overseas communities, we translated the live broadcast content into English and uploaded it to TokenClub’s Medium official account, so that the community’s small partners can view it. https://preview.redd.it/hhmu3pl506251.png?width=1080&format=png&auto=webp&s=fae9d42dcdee9d079219d1ffe612fc573bad01e8 4)Preview: TokenClub’s self-media grandma is invited to participate in the golden financial theme live event From May 29th to June 4th, Golden Finance will hold a five-day live broadcast of the theme of “Finding Double Coins”. Grandpa Coin will express his views on June 3, welcome to pay attention. 2.TokenClub Live 1) Summary Recently, Binance Co-founder He Yi, TRON founder Sun Yuchen, Hobbit HBTC founder Ju Jianhua, OSL chairman Dave, BlockVC founding partner Xu Yingkai, Outlier Ventures founder amie Burke, Bitribe founder SKY, CryptoBriefing CEO Han Kao , Huarai Group / Vice President, Global Market and Business Leader Ciara, Guosheng Securities Blockchain Research Institute Sun Shuang, Tongtongtong Research Institute CEO Song Shuangjie, Jin Tiancheng Law Firm Senior Partner Yu Bingguang, Binance China Jiang Jinze, principal researcher of Blockchain Research Institute, Meng Yan, vice president of Digital Asset Research Institute, co-founder of Primitive Ventures & director of Coindesk advisory board-Dovey Wan, founding partner of Genesis Capital & co-founder of Kushen Wallet Ocean Liao Yangyang, Binance C2C-Kathy, Binance OTC-Coco, Binance Contract & Options-Justin, Binance VIP-Jennifer, Binance Broker-Jess, Binance Mining Pool-Denny, Harbin Institute of Technology Blockchain Research Executive Deputy Director Xu Zhifeng, dForce founder Yang Mindao, Mars Finance co-founder Shang Silin, Cobo & Yuchi co-founder Shenyu, well-known investor Xu Zhe, CasperLabs CEO Mrinal Manohar, CasperLabs co-founder Scott Walker, Chairman of Rock Tree Omer Ozden, Nova Club incubation team leader & Waterdrop Capital partner Zheng Yushan, Rolling Stone miner founder Alex Lam, BitUniverse coin founder Chen Yong, Odaily Planet Daily founder and CEO Mandy Wang Mengdie, Binance stablecoin BUSD project responsible Helen Tu and senior expert of TokenClub blockchain and cryptocurrency investment strategy-Zao Shen talks with you about blockchain things ~ On May 18, Block 101 Binance Key Account Manager Luna talked to Primitive Ventures co-founder, non-profit bitcoin development fund Hardcore Fund executive director, and Coindesk advisory board director-Dovey Wan, to understand “C and C How is the Goddess of Crypto Assets made? “Dovey Wan shared with us on asset allocation, investment judgment, entrepreneurship, DCEP, etc. https://preview.redd.it/0dsry36906251.png?width=1080&format=png&auto=webp&s=a7f6f4b852547d2e43114f81a981f7aa6ea10f61 On May 19, Block 101 Yingge talked with Sun Zeyu, the founding partner of Genesis Capital and co-founder of Kushen Wallet, to share the theme of “Blockchain Investment Experience”. This investor, who is rated as “reliable” by insiders, recommends that novices try not to touch contracts, do not stay overnight even when making contracts, be alert to risks, refuse gambling, and rationally analyze investments. On May 20th, 499Block ’s two-year birthday carnival “Global Hot Chain, Keeping Together for Every Year” celebration was held in the TokenClub Live Room. The cross-border AMA Solitaire + popular day group anchor live video sharing, including Binance Co-founder He Yi, TRON founder Sun Yuchen, Hobbit HBTC founder Ju Jianhua, OSL chairman Dave, BlockVC founding partner Xu Yingkai, Outlier Ventures founder amie Burke, Bitribe founder SKY, CryptoBriefing CEO Han Kao, Huobi Group / Vice President Global Markets and Dozens of blockchain leaders from home and abroad, such as Ciara, the business leader, all appeared on the scene, and 499Block became a popular beauty angel group to help the interactive host. https://preview.redd.it/ga6ey51b06251.png?width=1280&format=png&auto=webp&s=d94cc1a03640538ec1e99443c8cbb7a5e77596de On May 20, Sun Shuang, senior researcher of Guosheng Securities Blockchain Research Institute, Song Shuangjie, Jin Tong, CEO of Tongzhengtong Research Institute were jointly invited by Lingang Xinyefang, Lingang Innovation Management School, and Binance China Blockchain Research Institute. Tian Bingguang Senior Partner Yu Bingguang, Binance China Blockchain Research Institute Chief Researcher Jiang Jinze, Vice President of Digital Assets Research Institute Meng Yan, and many experts talked about the “Critical Digital RMB DCEP” in the live broadcast, one A feast of intertwined thoughts is worth watching again! On May 21st, Ocean Liao Yangyang, the founder of Block 101 Seven Seven Dialogue Force Field, focused on the “big enlightenment era of digital assets”, Ocean shared with us his entrepreneurial experience, the first pot of gold, public chain, currency circle and Analysis of the current market. Regarding the future of Bitcoin, Ocean feels that he can work hard towards the direction of digital gold and become a substitute or supplement for gold. He is determined to see more, because the ceiling of the entire industry is very high, and he still cannot see its end point. The index level is rising, far from being over. On May 22, “In the name of the Pizza Festival, we came to a different live broadcast” Bringing Goods “”, which was organized by the girls in the 101-day group of the block: June 6, July 7, Sisi, Yingge, Qianjiangyue , Dialogue: Binance First Sister, Binance C2C-Kathy, Binance OTC-Coco, Binance Contract & Options-Justin, Binance VIP-Jennifer, Binance Broker-Jess, Binance Mining Pool-Denny. We have explained to us one by one about C2C, OTC, contract options, etc. If you are interested, please move to the live room. https://preview.redd.it/a9am0j5e06251.png?width=1080&format=png&auto=webp&s=7f8d0e80492027a000d4e719ec727b56cc27d94f On May 22, Block 101 Sisi Dialogue Xu Zhifeng, executive deputy director of the Blockchain Research Center of Harbin Institute of Technology, shared the theme: “Strategy of Great Powers: Seizing New Highlands of Blockchain Technology”. He expressed his views on his own currency circle experience, entrepreneurship, blockchain technology, DECP, etc. Xu Zhifeng is very optimistic about the future development of blockchain. He said: “Ten years later, blockchain will become a very common industry. We are the Internet industry and have never changed.” On May 23, the old Chinese doctor Zao Shen from the coin circle went online ~ The theme of this issue: If you want to be short, you must be able to sing first, and if you want to be long, you must be patient. If the meal is not fragrant, the game is not good, and the happiness of the past has drifted into the distance, just because the daily reading is still a loss, and the head is hurt. Don’t panic, the old Chinese doctor Zao Shen of the currency circle will adopt the Trinity Interventional Therapy and precise care to regenerate life. Don’t move quickly to the live room to see what “therapy” is. On May 25, Block 101, July 7th conversation with dForce founder Yang Mindao, talked about “DeFi opportunities and challenges.” Yang Mindao believes that the four biggest benefits of DeFi are: programmability; non-custodial nature; non-licensing; composability. He believes that the current public chain market is seriously homogenized, and the most promising public chain is Ethereum. Ethereum is the best and largest in terms of developer group, ecology, and technological evolution, and can absorb the advantages of each public chain. At the same time, he is also extremely optimistic about DeFi, “DeFi application value is gradually verified, and the value of this type of token will gradually become more prominent.” On May 26th, Mars Finance co-founder Shang Silin Hardcore Dialogue Cobo & Yuchi co-founder Shenyu and well-known investor Xu Zhe. The trend of “financialization” in the digital asset industry is becoming more and more obvious, and the friends of miners need to master more and more skills. Unveiling the mystery of hedging for everyone. On May 26th, Nova Superstar Dialogue Phase 13 focused on the Silicon Valley star project CasperLabs, specially invited CasperLabs CEO Mrinal Manohar, CasperLabs co-founder Scott Walker, Rock Tree chairman Omer Ozden, and Nova Club incubation team leader Water Capital Partners Zheng Yushan, discuss CasperLbs together. On May 26, Block 101 Sisi talked with the founder of the Rolling Stone Miner, Alex Lam, and took us into the “post-worker life” of a PhD in finance. Alex shared the reasons for entering the coin circle, the first pot of gold, mining, pitted pits, investment experience and opportunities in the digital currency industry. Alex said: Bitcoin exceeds US $ 100,000, and it will be in the second half of next year or the year after. On May 27th, Block 101 Yingge talked with BitUniverse founder Chen Yong and shared the theme: “Who” needs grid trading. Chen Yong mainly introduced the currency trading tool of Bitcoin. In his view, grid trading has changed an investor’s concept-from stud into a batch of positions and positions. Regarding the price of Bitcoin, Chen Yong believes that the price of Bitcoin may reach one hundred thousand dollars around 2030. On May 28, Block 101 Binance Mining Pool Wu Di talked to Mandai Wang Mengdie, founder of Planet Daily Odaily, to learn more about the process of “media entrepreneurs marching into the blockchain from venture capital circles”. Mandy believes that the core competence in the media industry is high-quality original content, which is the most basic but difficult to stick to. The initial focus of entering the mixed media industry of the dragon and dragon is to focus and amplify value. On May 29th, Block 101 Qianjiangyue Dialogue Hellen Tu, the project leader of Binance Stablecoin BUSD project, talked with everyone about the stablecoin “Life and Death”, Hellen shared the stablecoin in detail, and published his own the opinion of. For details, please move to the live room. On May 30th, Zaoshen came to share the theme: Dongfeng blowing, bullets flying, unlimited chase? In this issue, Zao Shen shared with you the recent international financial situation and various major events in the United States in the past week, which extended to the impact on the currency circle and answered various questions about investment strategies. Friends who want to know more details can move to the live room of Zao Shen. 3.TokenClub operation data -Live data: 13 live broadcasts in the past two weeks, with over 800,000 views. TokenClub hosted a total of 870 live broadcasts with a total of 45.06 million views. -Binary trade data: In the past two weeks, guess the rise and fall to participate in a total of 1268 times, the amount of participation exceeded 2 million TCT. At present, it is guessed that the rise and fall function has participated in a total of 1.11 million times, with a cumulative participation amount of 498 million TCT. -Chat data: In the past two weeks, a total of 19271 messages have been generated. A total of 4.85 milliom messages have been launched since the function was launched. -Mini-game data: The mini-game has participated in a total of 4212 times in the past two weeks. A total of 1,66 million self-functions have been online. -Cut leeks game data together: Since the game was launched, the total number of user participation in the game was 962612 TCT total consumption was 6,27 million gift certificate total consumption was 15,95million and TCT mining output was 161496. -TokenClub KOL data: Over the past two weeks, the total reading volume of the BTCGrandpa article has been viewed by more than 300,000 people. -Social media data: At present, the number of Weibo official accounts is 18033 and the number of Twitter followers is 1332 and we have opened the official Medium account this week, welcome to follow. -Telegram official group data: In the past 2 weeks, there were 238 chats in the group, and the total number of Telegram official groups is currently 2906. -Medium data: Medium official account u/TokenClub has published 5 excellent articles, official announcements and updates are published in English, welcome to follow. 4.Communities 1)Overseas Community TokenClub held an event for forwarding Twitter and telegram group chats for overseas users. Bitcoin halved in less than two weeks, overseas users are more active in the telegram group, and some friends are more concerned about Binance Block 101 live broadcast, aggregation exchange, TCT usage and other issues, the administrator responded in time.On May 12th, when Bitcoin was halved, TokenClub organized a forwarding Twitter, telegram group chat prize event and participating in a live question asking interactive prize event for overseas users. There are many live broadcast events in the near future. The live broadcast poster information will be released to overseas users as soon as possible. The follow-up TokenClub will translate and broadcast high-quality live broadcast content to Twitter and Medium. Bitcoin halved, overseas users are more active in the telegram group, and some partners are more concerned about block 101 live broadcast, bitcoin future price trend, TCT usage and other issues, the administrator responded in time in the group. https://preview.redd.it/2nrknnyo06251.png?width=1080&format=png&auto=webp&s=fb98b385c0caf7e65c7b3b2bb1edd782ec126905 2)Domestic community Sweet Orange Club Weekly News Last Friday, a holiday, the community opened the red envelope rain event, and brought a sincere gift to everyone while relaxing in the holiday. At the same time, it also sent the most sincere blessings to all mothers in the community on Mother’s Day. Thank you for your long-term support and help to the Orange Club community. Hundred-day scheduled investment event (Phase II) The fourth week of the second 100-day fixed investment plan held this week has been awarded, and everyone is still very active in this event. This week, the Bitcoin halving market was also opened in advance. The small partners participating in the fixed investment should now have a certain floating win, so we adopt the correct cycle investment strategy to believe that it can bring unexpected benefits to everyone. Sign in the lottery. On the evening of May 3rd and May 10th, TCT Fortune Free Academy carried out the 51st and 52nd week sign-in sweepstakes, and rewarded the small TCT partners who had always insisted on signing in. In these two sign-in sweepstakes, the lucky friends received 20–180TCT as a reward. In addition, during the lucky draw, the college friends also actively expressed their opinions on the topic of this year’s bull market. The Leek Paradise Community Conference will continue as usual every Sunday at 20:00. During the conference, members will discuss recent hot topics, including gifts and blessings for Mother ’s Day, and the halving of Bitcoin everyone is paying attention to. At the end, the friends in the group also showed a rare enthusiasm at the first sight. It seems that the market still affects the mood. The members routinely started a red envelope rain to cheer for the participating partners and encourage everyone to maintain patience and confidence. Of course, at the same time, we are encouraging ourselves to see the community meeting next week. Come on! TokenClub volunteer community, sign in red envelopes every day, as long as you sign in every day, you can get good benefits, friends join us quickly! In the past two weeks, the community has conducted active partners. Volunteer community: Change to the currency circle consultation and pass the analysis of Grandma Coin and Panda analysts, support TokenClub in action, and continue to vote for TCT. In the last month, we have worked hard to learn the rain god’s strategy. We have doubled the coins in our hands. The community WeChat group has recently injected fresh students. We look forward to more people joining! Volunteer community, will continue to work hard for TokenClub TCT has been listed on Binance、Okex、Gate.io、ZB-M、MXC、Biki、Coinex、BigOne、Coinbene、Cybex、SWFT、Loopring、Rootrex etc. TokenClub website: www.tokenclub.com Telegram：https://t.me/token\_club
Bitpie Announces Partnership with Cred to Offer Financial Services
https://preview.redd.it/ofh267uzphs41.png?width=1400&format=png&auto=webp&s=a966731800f3268dd22278ecb8deb1b9f95f8c4e Bitpie, one of the leading multi-blockchain wallet platforms in the Asia-Pacific region serving over 5 million users, announced its partnership with Cred to offer financial services to its customers. Cred, a licensed lender in California, is the leading crypto-backed lending and borrowing platform, serving customers in over 190 countries. Bitpie has stored more than $10 billion worth of cryptocurrency assets in its seven years of operation. Cred’s platform will be integrated into the BitPie wallet, offering BitPie Wallet users the ability to earn interest on crypto assets including Bitcoin and Ethereum. All Bitpie Wallet customers who hold $50,000 USD or more in assets can schedule a call with one of Cred’s Mandarin or English speaking private client associates to develop a custom program. “Bitpie has a large number of high-net-worth users, and Cred provides highly competitive products for all major crypto assets to meet their needs. We have full confidence in the prospect of this partnership,” said Wang Chao, COO of BitPie. Bitpie has deep roots in Beijing and has been named one of the most popular wallets used by Chinese investors. As a leading multi-chain wallet in the Asia-Pacific region, Bitpie hosts the most active user base of BTC applications, and its BTC and USDT storage volumes rank at the top in the Asian market. “We are thrilled to partner with BitPie, a highly popular cryptocurrency wallet whose wallet deposits for BTC and USDT rank among the largest in Asia,” said Dan Schatt, CEO and Co-Founder of Cred. Bitpie users will be able to lend their crypto assets and receive either monthly payments in the form of simple interest or can opt for daily compounded interest, with the option to roll over pledged assets for additional periods. Users can take advantage of Cred’s ultra-low minimum amount requirements and receive interest is paid out in the customer’s choice of stablecoin or cryptocurrency. For updates on the launch of the Bitpie Wallet and Cred partnership, monitor Cred’s social channels including Cred’s Twitter and Telegram for upcoming announcements. ABOUT BITPIE WALLET Originated from Bither Wallet, the Bitpie team is made up of seasoned blockchain professionals and business experts devoted to providing its users with safe asset management and broad blockchain application access. Bitpie leverages security, user accessibility, and functionality to provide leading cryptocurrency services to its community. Bitpie has the largest volume of BTC and USDT storage in the Asian market. ABOUT CRED Cred is a California-based licensed lender offering lending and borrowing services to customers in 190 countries. Founded on the belief of fairness, Cred’s mission is to harness the power of blockchain to allow everyone to benefit from blockchain-based financial services. Cred brings together a diverse team of financial technology veterans, entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit www.mycred.io. Find us on: 👉Twitter; 👉Facebook; 👉Telegram Channel
Why You Should Hold at Least 30% Gold in Your Portfolio
Dennis Gartman, the former editor and publisher of The Gartman Letter, recommends investors hold at least 30% gold in their portfolio. He made these comments in an interview with a panel of investors by a leading gold news outlet, Kitco News. The particular question was how they would invest $100,000 in the coming decade. Gartman described his approach as follows: “For the next decade I’d hold 30% in gold of some form; I’d hold 30% in various closed-end bond funds that pay dividends monthly (there are dozens of them!); I’d hold 30% in commodity-related businesses; and the final 10%, I’d hold in Emerging market ETFs.” The US economy is closing the decade on a pretty firm footing. The S&P market index is experiencing its longest bull run in history, being up 184% since 2010. However, the global economy is awash with uncertainty that caused some hiccups in 2019. Interestingly, gold is attracting keen interest, even with a rallying stock market. Prices may be lower than record highs in 2011, but holding gold is still extremely lucrative. The precious metal looks to end the decade with a gain of 34%. Such a paradigm is not conventional in the modern history of stocks and asset investments. To have a big year in both stocks and defensive safe-haven assets is quite unusual. Both cautious and aggressive investors can claim victory from how the year has panned out. However, hedge funds bore the brunt of this extraordinary market as many bullish strategies got clobbered from the upheaval. This dynamic points at a market with more temperamental liquidity than previously thought. Bank of America has released an insightful analysis titled, “The World’s Most Liquid Stock Market Is Now as illiquid as it was in the 2008 Crisis.”
2020 Gold Outlook
Gartman has left his position at the famed Gartman Letter after 30 years. His experience gives him a unique perspective on this market. He sees gold as a vital part of portfolio diversification in the coming year. A significant trend will be the return to commodity markets as inflationary pressures return. The expansionary policies and low-interest regimes of most prominent central banks are a massive reason for this. In its last meeting of the year, the US Federal Reserve confirmed that it would not raise interest rates soon. President Trump relies on economic growth as his signature achievement heading into a reelection year. Even though the FED is an independent agency, Trump’s relentless attacks on chair Jay Powell have had some effect in the recent past. Trump is never hesitant to go on Twitter to remind everyone that the S&P 500 has broken its record highs at least 135 times since his election. Therefore, the expansionist policies that facilitate cheap money flowing into the economy will likely hold through 2020. As for the stock market’s bull run, Gartman takes the cautious position that a bull run ends when it does. Accurately forecasting the next downturn is not a walk in the park. This new decade may continue the optimism that the last has finished with. On the other hand, trade tensions still cast a cloud over next year’s forecast. Trade talks between the US and China are still in progress. Interestingly, investors were not as impressed with the Phase 1 agreement of the US-China trade deal as many expected. Gold prices held up as investors await news of the second phase of the trade deal. These uncertainty triggers will play a significant role in shaping 2020 economic performance. Brexit and EU growth stagnation are other significant factors to watch for. The market is operating as though these events are in the past, but their ripple effects can still rock stock markets in 2020.
Consumer Price Inflation
The US has a historic economy, yet is on the cusp of rerunning a trillion-dollar deficit. You have to go back to 2009 and a few years after to find such a period of spending. Former FED chair Alan Greenspan contends that this phenomenon will eventually lead to an exponential inflation rise. Speaking to CNBC, Greenspan stated that he is worried about US consumer price inflation. There is a lot of merit to such a sentiment. After all, the easy monetary policies and a reaccelerating economy set the stage for higher commodity prices. However, it is not easy to forecast a tipping point for inflation in the short-term. The markets don’t seem to be as worried about the ballooning deficit as hawkish analysts are. It remains to be seen whether the low unemployment and positive outcome of trade deals will stem this tide in 2020.
The Current Status of Gold
Even though the stock market has had a historic bull run, gold has had a strong rally of its own. This run is reminiscent of the 2011 cycle when gold prices looked to cross the watershed $2,000 mark before dissipating. Incredibly, this period is not a global recession like the last time gold prices were this high. Gold is traditionally a defensive asset. Its strong performance in a great year for stocks shows that there is more to the story than meets the eye. The low-interest era means that a lot of money will be flowing in the economy. Naturally, such a glut lowers the value of fiat, indicating that stable assets like gold and Bitcoin are more attractive as a store of value. Gold has risen past the $1,500 mark in recent days of trading. This latest rise is consistent with 2019 patterns, which have seen gold spot prices rise over 15%. Remarkably, this solid price is occurring at a time of historic stock runs. The end of the current bull run is challenging to predict. However, in the event of such misfortune, gold is the right investment to absorb shock in your portfolio. Gold prices are not affected negatively by slides in the stock market. Additionally, scarcity and consistency place gold at a higher value than other real assets.
Investors Adding Gold to Their Portfolios
A recent Kitco News report shows that big speculators have rebuilt bullish positions in gold futures. The analysis relies on data from the Commodity Futures Trading Commission (CFTC) from the most recent reporting week. CFTC data capture activity, namely short and long positions on gold. In the most recent data, net long positions of fund managers rose to 201721 from 183648. The figures captured trends up to December 17. Long positions are contracts guaranteeing the purchase of gold at a specific price in the future. Such an increase is indicative of positive sentiment about gold prices rising in the coming weeks of trading. Much of the bullish sentiment around gold is because of the FED’s confirmation that it would not raise rates soon. The FED’s dovish sentiment despite the already strong economy was enough to channel wind into gold’s sails. Accordingly, investors are hedging against inflation in the near future. Traders have multiple ways to add gold to their holdings. Other than holding bullion, they can invest in gold-backed ETFs. With the option of tokenized gold trading in the market, investors can hold bullion without the inconvenience of storage or security. Moreover, there is always the possibility that stocks can tumble from their record highs. In such a scenario, gold is the perfect safe-haven. Gold is the most stable of all assets, and the tailwind from such an event would be massive. In summary, holding about 30% gold in your portfolio is not only a safe strategy but also one that can have a tremendous upside. With a robust gold market to close out 2019, the next decade looks set to begin with a prolonged gold bull run. The likes of Ray Dalio certainly understand this dynamic. Gold is no longer an old-school doomsday asset but rather a core part of the modern financial world. Its ceiling could be very high.
To Vitalik and other ETH Devs, GPU Miners need you and you need GPU Miners (PoW/ProgPoW)
This is directed towardsu/nickjohnson,u/vbuterin,u/5chdnand other ETH Devs. Edit: Proof of ProgPoW: https://gangnam.wattpool.net/#/account/0x445c466856266f8a609f87fdc6b0aaeb274d203f Initial testing is seeing 8.8-10.15mh/s on RX480 and 3.8-4mh/s on RX460. Will include write-up soon, Newest ETH-Miner release! Let me start this by saying, I mined my first BTC before it was even $100 or well known. BTC Mined. That was my first foray into the PoW mining scene. I had a lot a fun doing so. I enjoy building computers, testing equipment, fixing problems. It's literally my everyday job as an IT Hardware Analyst for a company. I had to put down my mining on GPU dreams due to ASICs overtaking the networks of both BTC and LTC. I gave up on crypto as a hobby. Why bother? I don't want an ASIC in my house. There's no fun in tuning an ASIC, cannot change out components, upgrade it, etc. Then in 2017 I heard a whisper of GPU mineable coin that was ASIC resistant. It was called Ethereum. It was posed to be the next "Apple" with great innovations. At first I was beset by previous failures of GPU mineable coins getting overtaken by ASICs. Eventually with some discussion to my friend we built our first GPU mining rig in June of 2017. I got into Ethereum by mining it. Now ASICs run rampant through most of the top 100 Cryptocurrencies. The current outlook, regardless of the bear-market pricing, looks bleak. I want to appeal to Vitalik, Nick, and the other Ethereum developers. It was GPU miners you had in mind when you created the Ethereum network and not ASICs. Vitalik made the best effort of a ASIC-Resistant algorithm. It latest for years but it's a cat and mouse game. Continued development of ASIC-Resistant algorithms needs to continue, not fall by the wayside. u/AndLanu/ohgodagirl, Mr If, and others have poured non-paid work into ProgPoW and getting it working on the Ethereum network because they want to see Ethereum succeed. ASICs are now on the network, ProgPoW is a solution, and we need YOU DEVELOPERS, To stand with US, THE MINERS! Together lets push Ethereum forward to #1! The Developers and GPU Miners need a symbiotic relationship. GPU Miners are NOT against you! You should not be against us! We need to stand together to make Ethereum strong and succeed, not become Bitcoin, which as even in Ethereum's whitepaper you understood it became fairly centralized.
However, this mining algorithm is vulnerable to two forms of centralization. First, the mining ecosystem has come to be dominated by ASICs (application-specific integrated circuits), computer chips designed for, and therefore thousands of times more efficient at, the specific task of Bitcoin mining. This means that Bitcoin mining is no longer a highly decentralized and egalitarian pursuit, requiring millions of dollars of capital to effectively participate in.
In regards to Centralization Mr If, made an excellent argument last Dev meeting, for ProgPoW which I shall reiterate/paraphrase here for everyone on Reddit. PoW is geared towards industries of scale. This is why ASICs typically become the dominate force, because the ASIC manufactures have the capital, investment, and industry to produce them at a low cost. Thus they reap the PoW rewards. Hence why all PoW tends to go towards ASIC. They can decide to sell ASIC and recoup cost plus profit or keep mining with that equipment. Making ASICs egalitarian. ASIC manufactures decide, not the miner communities, what they do with the ASICs. You pay to play and you must be first. ProgPoW takes the same approach but changes who the industry is, instead of Bitmain/Innosilicon it is AMD/Nvidia. These two companies are industrial level manufactures and have the ability to produce on a scale to support PoW(Just look at all the overstock of Nvidia 1000 GPUs). In this sense we are trading one(ASICs) for another (ASIC-GPUs). We as PoW miners must use Nvidia/AMD GPUs to support the network. Because it is the commodity hardware mass available to everyone. ASICs ARE NOT commodity hardware and ARE NOT mass available to everyone. Changing from Eth-hash to ProgPoW changes the players in the game and chooses the lesser two evils (AMD/Nvidia). ProgPoW is not stricitly an Algorithm to replace Eth-hash but a has various "buttons" and "knobs" to tune. hence why its called Programmable! Ill let an Eth-miner Dev explain it... -Andrea LanFranchi (EthMiner Dev)
ProgPoW is not strictly an Algo, it is a finite set of basic operations. ProgPoW is to be considered more of a process which creates variants of the algo every specified interval. Due to this there is no concept of ProgPoW as an immutable algo like Eth-hash. It tune-able and can dial various "knobs" that allow the creation of large number "definition sets" which again due to the deterministic randomness create an infinite number of algo changes. ProgPoW creates a new search kernel every 50 blocks. Every 50 . blocks the gpu receives a completely new and different kernel from the previous which causes hashrate to change. In ProgPoW there is no fixed and constant hashrate for GPUs. You have to take into account averages across multiple periods to get the best out of the hardware. Variances are from 8-9%.
I personally supported the Network at $400, $180, $1400 and still support it now $100. I supported throughout the uncertainty of the Iceage and delays. Ethereum is still a PoW coin! ONE OF THE BEST! It's what made ethereum great! The project has excellent idea's of smart contracts and Dapps. On top of all is a massive GPU networking supporting it. Throughout 2017 there were no ASICs(That we know of) yet the ethereum network grew. What helped make Ethereum blossom was the miners and the mining community. I am personally invested into Ethereum want to see it succeed, I'm personally invested in PoW GPU mining, and want to see it succeed. I will invest my own time and money, being a GPU miner, into seeing that ProgPoW testnet gets fully scrutinized, put through it's paces to ensure that it is a fit for Ethereum and minimize problems. I plead, beg, and invite all other GPU miners to do so. If we want change we as miners must show through hashpower on the testnet, that we are pushing forward with ProgPoW. Throw a single GPU, a Rig, whatever you can spare or muster for ProgPoW testnet. I can and am more than willing to help anyone setup the necessary files, miners, etc needed to get mining on the test network. Right now you can download the ProgPoW Miner(Updates are constant) And Ethermine is in full support. Ethminer -P stratum://(ProgPoW Test Address)[[email protected]](mailto:[email protected]):4444 -A progpow Let's make a Decision together on ProgPoW. Miners are in majority support of ProgPoW and 100% support of kicking ASICs of the network(Look at Ethermine's twitter poll). GPU miners supported you, helped build your network, not investors, not ICOs. At the very heart of Ethereum beats the GPU. Operating that GPU is a typically an enthusiast, hobby miner, and a believer in Crypto. *Edit:*PoW is the known best way to distribute token "fairly", yet everyone hates it and wants PoS? What happens when large ASIC manufacture and centralized parties mining with ASICs earn more tokens than anyone else? Wouldn't that lead to centralization in PoS? Ethereum is on PoW BECAUSE it needs it! And because Ethereum needs PoW, it needs GPU miners, and to stay decentralized to PoS and in PoS it needs to keep GPUs miners on board. Vitalik, Nick, and others, a time-line needs to be set, ProgPoW needs to be in the Agenda continually, discussed throughly, until it's launched on the main network. I will personally come chat, debate ideas, with any of you! Civil discussions are important!
Your Guide to Monero, and Why It Has Great Potential
/////Your Guide to Monero, and Why It Has Great Potential/////
Marketing. It's a dirty word for most members of the Monero community. It is also one of the most divisive words in the Monero community. Yet, the lack of marketing is one of the most frustrating things for many newcomers. This is what makes this an unusual post from a member of the Monero community. This post is an unabashed and unsolicited analyzation of why I believe Monero to have great potential. Below I have attempted to outline different reasons why Monero has great potential, beginning with upcoming developments and use cases, to broader economic motives, speculation, and key issues for it to overcome. I encourage you to discuss and criticise my musings, commenting below if you feel necessary to do so.
Bulletproofs - A Reduction in Transaction Sizes and Fees Since the introduction of Ring Confidential Transactions (Ring CT), transaction amounts have been hidden in Monero, albeit at the cost of increased transaction fees and sizes. In order to mitigate this issue, Bulletproofs will soon be added to reduce both fees and transaction size by 80% to 90%. This is great news for those transacting smaller USD amounts as people commonly complained Monero's fees were too high! Not any longer though! More information can be found here. Bulletproofs are already working on the Monero testnet, and developers were aiming to introduce them in March 2018, however it could be delayed in order to ensure everything is tried and tested. Multisig Multisig has recently been merged! Mulitsig, also called multisignature, is the requirement for a transaction to have two or more signatures before it can be executed. Multisig transactions and addresses are indistinguishable from normal transactions and addresses in Monero, and provide more security than single-signature transactions. It is believed this will lead to additional marketplaces and exchanges to supporting Monero. Kovri Kovri is an implementation of the Invisible Internet Project (I2P) network. Kovri uses both garlic encryption and garlic routing to create a private, protected overlay-network across the internet. This overlay-network provides users with the ability to effectively hide their geographical location and internet IP address. The good news is Kovri is under heavy development and will be available soon. Unlike other coins' false privacy claims, Kovri is a game changer as it will further elevate Monero as the king of privacy. Mobile Wallets There is already a working Android Wallet called Monerujo available in the Google Play Store. X Wallet is an IOS mobile wallet. One of the X Wallet developers recently announced they are very, very close to being listed in the Apple App Store, however are having some issues with getting it approved. The official Monero IOS and Android wallets, along with the MyMonero IOS and Android wallets, are also almost ready to be released, and can be expected very soon. Hardware Wallets Hardware wallets are currently being developed and nearing completion. Because Monero is based on the CryptoNote protocol, it means it requires unique development in order to allow hardware wallet integration. The Ledger Nano S will be adding Monero support by the end of Q1 2018. There is a recent update here too. Even better, for the first time ever in cryptocurrency history, the Monero community banded together to fund the development of an exclusive Monero Hardware Wallet, and will be available in Q2 2018, costing only about $20! In addition, the CEO of Trezor has offered a 10BTC bounty to whoever can provide the software to allow Monero integration. Someone can be seen to already be working on that here. TAILS Operating System Integration Monero is in the progress of being packaged in order for it to be integrated into TAILS and ready to use upon install. TAILS is the operating system popularised by Edward Snowden and is commonly used by those requiring privacy such as journalists wanting to protect themselves and sources, human-right defenders organizing in repressive contexts, citizens facing national emergencies, domestic violence survivors escaping from their abusers, and consequently, darknet market users. In the meantime, for those users who wish to use TAILS with Monero, u/Electric_sheep01 has provided Sheep's Noob guide to Monero GUI in Tails 3.2, which is a step-by-step guide with screenshots explaining how to setup Monero in TAILS, and is very easy to follow. Mandatory Hardforks Unlike other coins, Monero receives a protocol upgrade every 6 months in March and September. Think of it as a Consensus Protocol Update. Monero's hard forks ensure quality development takes place, while preventing political or ideological issues from hindering progress. When a hardfork occurs, you simply download and use the new daemon version, and your existing wallet files and copy of the blockchain remain compatible. This reddit post provides more information. Dynamic fees Many cryptocurrencies have an arbitrary block size limit. Although Monero has a limit, it is adaptive based on the past 100 blocks. Similarly, fees change based on transaction volume. As more transactions are processed on the Monero network, the block size limit slowly increases and the fees slowly decrease. The opposite effect also holds true. This means that the more transactions that take place, the cheaper the fees! Tail Emission and Inflation There will be around 18.4 million Monero mined at the end of May 2022. However, tail emission will kick in after that which is 0.6 XMR, so it has no fixed limit. Gundamlancer explains that Monero's "main emission curve will issue about 18.4 million coins to be mined in approximately 8 years. (more precisely 18.132 Million coins by ca. end of May 2022) After that, a constant "tail emission" of 0.6 XMR per 2-minutes block (modified from initially equivalent 0.3 XMR per 1-minute block) will create a sub-1% perpetual inflatio starting with 0.87% yearly inflation around May 2022) to prevent the lack of incentives for miners once a currency is not mineable anymore. Monero Research Lab Monero has a group of anonymous/pseudo-anonymous university academics actively researching, developing, and publishing academic papers in order to improve Monero. See here and here. The Monero Research Lab are acquainted with other members of cryptocurrency academic community to ensure when new research or technology is uncovered, it can be reviewed and decided upon whether it would be beneficial to Monero. This ensures Monero will always remain a leading cryptocurrency. A recent end of 2017 update from a MRL researcher can be found here.
///Monero's Technology - Rising Above The Rest///
Monero Has Already Proven Itself To Be Private, Secure, Untraceable, and Trustless Monero is the only private, untraceable, trustless, secure and fungible cryptocurrency. Bitcoin and other cryptocurrencies are TRACEABLE through the use of blockchain analytics, and has lead to the prosecution of numerous individuals, such as the alleged Alphabay administrator Alexandre Cazes. In the Forfeiture Complaint which detailed the asset seizure of Alexandre Cazes, the anonymity capabilities of Monero were self-demonstrated by the following statement of the officials after the AlphaBay shutdown: "In total, from CAZES' wallets and computer agents took control of approximately $8,800,000 in Bitcoin, Ethereum, Monero and Zcash, broken down as follows: 1,605.0503851 Bitcoin, 8,309.271639 Ethereum, 3,691.98 Zcash, and an unknown amount of Monero". Privacy CANNOT BE OPTIONAL and must be at a PROTOCOL LEVEL. With Monero, privacy is mandatory, so that everyone gets the benefits of privacy without any transactions standing out as suspicious. This is the reason Darknet Market places are moving to Monero, and will never use Verge, Zcash, Dash, Pivx, Sumo, Spectre, Hush or any other coins that lack good privacy. Peter Todd (who was involved in the Zcash trusted setup ceremony) recently reiterated his concerns of optional privacy after Jeffrey Quesnelle published his recent paper stating 31.5% of Zcash transactions may be traceable, and that only ~1% of the transactions are pure privacy transactions (i.e., z -> z transactions). When the attempted private transactions stand out like a sore thumb there is no privacy, hence why privacy cannot be optional. In addition, in order for a cryptocurrency to truly be private, it must not be controlled by a centralised body, such as a company or organisation, because it opens it up to government control and restrictions. This is no joke, but Zcash is supported by DARPA and the Israeli government!. Monero provides a stark contrast compared to other supposed privacy coins, in that Monero does not have a rich list! With all other coins, you can view wallet balances on the blockexplorers. You can view Monero's non-existent rich list here to see for yourself. I will reiterate here that Monero is TRUSTLESS. You don't need to rely on anyone else to protect your privacy, or worry about others colluding to learn more about you. No one can censor your transaction or decide to intervene. Monero is immutable, unlike Zcash, in which the lead developer Zooko publicly tweeted the possibility of providing a backdoor for authorities to trace transactions. To Zcash's demise, Zooko famously tweeted:
" And by the way, I think we can successfully make Zcash too traceable for criminals like WannaCry, but still completely private & fungible. …"
Ethereum's track record of immutability is also poor. Ethereum was supposed to be an immutable blockchain ledger, however after the DAO hack this proved to not be the case. A 2016 article on Saintly Law summarised the problematic nature of Ethereum's leadership and blockchain intervention:
" Many ethereum and blockchain advocates believe that the intervention was the wrong move to make in this situation. Smart contracts are meant to be self-executing, immutable and free from disturbance by organisations and intermediaries. Yet the building block of all smart contracts, the code, is inherently imperfect. This means that the technology is vulnerable to the same malicious hackers that are targeting businesses and governments. It is also clear that the large scale intervention after the DAO hack could not and would not likely be taken in smaller transactions, as they greatly undermine the viability of the cryptocurrency and the technology."
Monero provides Fungibility and Privacy in a Cashless World As outlined on GetMonero.org, fungibility is the property of a currency whereby two units can be substituted in place of one another. Fungibility means that two units of a currency can be mutually substituted and the substituted currency is equal to another unit of the same size. For example, two $10 bills can be exchanged and they are functionally identical to any other $10 bill in circulation (although $10 bills have unique ID numbers and are therefore not completely fungible). Gold is probably a closer example of true fungibility, where any 1 oz. of gold of the same grade is worth the same as another 1 oz. of gold. Monero is fungible due to the nature of the currency which provides no way to link transactions together nor trace the history of any particular XMR. 1 XMR is functionally identical to any other 1 XMR. Fungibility is an advantage Monero has over Bitcoin and almost every other cryptocurrency, due to the privacy inherent in the Monero blockchain and the permanently traceable nature of the Bitcoin blockchain. With Bitcoin, any BTC can be tracked by anyone back to its creation coinbase transaction. Therefore, if a coin has been used for an illegal purpose in the past, this history will be contained in the blockchain in perpetuity. A great example of Bitcoin's lack of fungibility was reposted by u/ViolentlyPeaceful:
"Imagine you sell cupcakes and receive Bitcoin as payment. It turns out that someone who owned that Bitcoin before you was involved in criminal activity. Now you are worried that you have become a suspect in a criminal case, because the movement of funds to you is a matter of public record. You are also worried that certain Bitcoins that you thought you owned will be considered ‘tainted’ and that others will refuse to accept them as payment."
This lack of fungibility means that certain businesses will be obligated to avoid accepting BTC that have been previously used for purposes which are illegal, or simply run afoul of their Terms of Service. Currently some large Bitcoin companies are blocking, suspending, or closing accounts that have received Bitcoin used in online gambling or other purposes deemed unsavory by said companies. Monero has been built specifically to address the problem of traceability and non-fungibility inherent in other cryptocurrencies. By having completely private transactions Monero is truly fungible and there can be no blacklisting of certain XMR, while at the same time providing all the benefits of a secure, decentralized, permanent blockchain. The world is moving cashless. Fact. The ramifications of this are enormous as we move into a cashless world in which transactions will be tracked and there is a potential for data to be used by third parties for adverse purposes. While most new cryptocurrency investors speculate upon vaporware ICO tokens in the hope of generating wealth, Monero provides salvation for those in which financial privacy is paramount. Too often people equate Monero's features with criminal endeavors. Privacy is not a crime, and is necessary for good money. Transparency in Monero is possible OFF-CHAIN, which offers greater transparency and flexibility. For example, a Monero user may share their Private View Key with their accountant for tax purposes. Monero aims to be adopted by more than just those with nefarious use cases. For example, if you lived in an oppressive religious regime and wanted to buy a certain item, using Monero would allow you to exchange value privately and across borders if needed. Another example is that if everybody can see how much cryptocurrency you have in your wallet, then a certain service might decide to charge you more, and bad actors could even use knowledge of your wallet balance to target you for extortion purposes. For example, a Russian cryptocurrency blogger was recently beaten and robbed of $425k. This is why FUNGIBILITY IS ESSENTIAL. To summarise this in a nutshell:
"A lack of fungibility means that when sending or receiving funds, if the other person personally knows you during a transaction, or can get any sort of information on you, or if you provide a residential address for shipping etc. – you could quite potentially have them use this against you for personal gain"
Major Investors And Crypto Figureheads Are Interested Ari Paul is the co-founder and CIO of BlockTower Capital. He was previously a portfolio manager for the University of Chicago's $8 billion endowment, and a derivatives market maker and proprietary trader for Susquehanna International Group. Paul was interviewed on CNBC on the 26th of December and when asked what was his favourite coin was, he stated "One that has real fundamental value besides from Bitcoin is Monero" and said it has "very strong engineering". In addition, when he was asked if that was the one used by criminals, he replied "Everything is used by criminals including the US dollar and the Euro". Paul later supported these claims on Twitter, recommending only Bitcoin and Monero as long-term investments. There are reports that "Roger Ver, earlier known as 'Bitcoin Jesus' for his evangelical support of the Bitcoin during its early years, said his investment in Monero is 'substantial' and his biggest in any virtual currency since Bitcoin. Charlie Lee, the creator of Litecoin, has publicly stated his appreciation of Monero. In a September 2017 tweet directed to Edward Snowden explaining why Monero is superior to Zcash, Charlie Lee tweeted:
All private transactions, More tested privacy tech, No tax on miners to pay investors, No high inflation... better investment.
John McAfee, arguably cryptocurrency's most controversial character at the moment, has publicly supported Monero numerous times over the last twelve months(before he started shilling ICOs), and has even claimed it will overtake Bitcoin. Playboy instagram celebrity Dan Bilzerian is a Monero investor, with 15% of his portfolio made up of Monero. Finally, while he may not be considered a major investor or figurehead, Erik Finman, a young early Bitcoin investor and multimillionaire, recently appeared in a CNBC Crypto video interview, explaining why he isn't entirely sold on Bitcoin anymore, and expresses his interest in Monero, stating:
"Monero is a really good one. Monero is an incredible currency, it's completely private."
There is a common belief that most of the money in cryptocurrency is still chasing the quick pump and dumps, however as the market matures, more money will flow into legitimate projects such as Monero. Monero's organic growth in price is evidence smart money is aware of Monero and gradually filtering in. The Bitcoin Flaw A relatively unknown blogger named CryptoIzzy posted three poignant pieces regarding Monero and its place in the world. The Bitcoin Flaw: Monero Rising provides an intellectual comparison of Monero to other cryptocurrencies, and Valuing Cryptocurrencies: An Approach outlines methods of valuing different coins. CryptoIzzy's most recent blog published only yesterday titled Monero Valuation - Update and Refocus is a highly recommended read. It touches on why Monero is much more than just a coin for the Darknet Markets, and provides a calculated future price of Monero. CryptoIzzy also published The Power of Money: A Case for Bitcoin, which is an exploration of our monetary system, and the impact decentralised cryptocurrencies such as Bitcoin and Monero will have on the world. In the epilogue the author also provides a positive and detailed future valuation based on empirical evidence. CryptoIzzy predicts Monero to easily progress well into the four figure range. Monero Has a Relatively Small Marketcap Recently we have witnessed many newcomers to cryptocurrency neglecting to take into account coins' marketcap and circulating supply, blindly throwing money at coins under $5 with inflated marketcaps and large circulating supplies, and then believing it's possible for them to reach $100 because someone posted about it on Facebook or Reddit. Compared to other cryptocurrencies, Monero still has a low marketcap, which means there is great potential for the price to multiply. At the time of writing, according to CoinMarketCap, Monero's marketcap is only a little over $5 billion, with a circulating supply of 15.6 million Monero, at a price of $322 per coin. For this reason, I would argue that this is evidence Monero is grossly undervalued. Just a few billion dollars of new money invested in Monero can cause significant price increases. Monero's marketcap only needs to increase to ~$16 billion and the price will triple to over $1000. If Monero's marketcap simply reached ~$35 billion (just over half of Ripple's $55 billion marketcap), Monero's price will increase 600% to over $2000 per coin. Another way of looking at this is Monero's marketcap only requires ~$30 billion of new investor money to see the price per Monero reach $2000, while for Ethereum to reach $2000, Ethereum's marketcap requires a whopping ~$100 billion of new investor money. Technical Analysis There are numerous Monero technical analysts, however none more eerily on point than the crowd-pleasing Ero23. Ero23's charts and analysis can be found on Trading View. Ero23 gained notoriety for his long-term Bitcoin bull chart published in February, which is still in play today. Head over to his Trading View page to see his chart: Monero's dwindling supply. $10k in 2019 scenario, in which Ero23 predicts Monero to reach $10,000 in 2019. There is also this chart which appears to be freakishly accurate and is tracking along perfectly today. Coinbase Rumours Over the past 12 months there have been ongoing rumours that Monero will be one of the next cryptocurrencies to be added to Coinbase. In January 2017, Monero Core team member Riccardo 'Fluffypony' Spagni presented a talk at Coinbase HQ. In addition, in November 2017 GDAX announced the GDAX Digit Asset Framework outlining specific parameters cryptocurrencies must meet in order to be added to the exchange. There is speculation that when Monero has numerous mobile and hardware wallets available, and multisig is working, then it will be added. This would enable public accessibility to Monero to increase dramatically as Coinbase had in excess of 13 million users as of December, and is only going to grow as demand for cryptocurrencies increases. Many users argue that due to KYC/AML regulations, Coinbase will never be able to add Monero, however the Kraken exchange already operates in the US and has XMfiat pairs, so this is unlikely to be the reason Coinbase is yet to implement XMfiat trading. Monero Is Not an ICO Scam It is likely most of the ICOs which newcomers invest in, hoping to get rich quick, won't even be in the Top 100 cryptocurrencies next year. A large portion are most likely to be pumps and dumps, and we have already seen numerous instances of ICO exit scams. Once an ICO raises millions of dollars, the developers or CEO of the company have little incentive to bother rolling out their product or service when they can just cash out and leave. The majority of people who create a company to provide a service or product, do so in order to generate wealth. Unless these developers and CEOs are committed and believed in their product or service, it's likely that the funds raised during the ICO will far exceed any revenue generated from real world use cases. Monero is a Working Currency, Today Monero is a working currency, here today. The majority of so called cryptocurrencies that exist today are not true currencies, and do not aim to be. They are a token of exchange. They are like a share in a start-up company hoping to use blockchain technology to succeed in business. A crypto-assest is a more accurate name for coins such as Ethereum, Neo, Cardano, Vechain, etc. Monero isn't just a vaporware ICO token that promises to provide a blockchain service in the future. It is not a platform for apps. It is not a pump and dump coin. Monero is the only coin with all the necessary properties to be called true money. Monero is private internet money. Some even describe Monero as an online Swiss Bank Account or Bitcoin 2.0, and it is here to continue on from Bitcoin's legacy. Monero is alleviating the public from the grips of banks, and protests the monetary system forced upon us. Monero only achieved this because it is the heart and soul, and blood, sweat, and tears of the contributors to this project. Monero supporters are passionate, and Monero has gotten to where it is today thanks to its contributors and users.
///Key Issues for Monero to Overcome///
Scalability While Bulletproofs are soon to be implemented in order to improve Monero's transaction sizes and fees, scalability is an issue for Monero that is continuously being assessed by Monero's researchers and developers to find the most appropriate solution. Ricardo 'Fluffypony' Spagni recently appeared on CNBC's Crypto Trader, and when asked whether Monero is scalable as it stands today, Spagni stated that presently, Monero's on-chain scaling is horrible and transactions are larger than Bitcoin's (because of Monero's privacy features), so side-chain scaling may be more efficient. Spagni elaborated that the Monero team is, and will always be, looking for solutions to an array of different on-chain and off-chain scaling options, such as developing a Mimblewimble side-chain, exploring the possibility of Lightning Network so atomic swaps can be performed, and Tumblebit. In a post on the Monero subreddit from roughly a month ago, monero moderator u/dEBRUYNE_1 supports Spagni's statements. dEBRUYNE_1 clarifies the issue of scalability:
"In Bitcoin, the main chain is constrained and fees are ludicrous. This results in users being pushed to second layer stuff (e.g. sidechains, lightning network). Users do not have optionality in Bitcoin. In Monero, the goal is to make the main-chain accessible to everyone by keeping fees reasonable. We want users to have optionality, i.e., let them choose whether they'd like to use the main chain or second layer stuff. We don't want to take that optionality away from them."
"Monero has all the mechanisms it needs to find the balance between transaction load, and offsetting the costs of miner infrastructure/profits, while making sure the network is useful for users. But like the interviewer said, the question is directed at "right now", and Fluffys right to a certain extent, Monero's transactions are huge, and compromises in blockchain security will help facilitate less burdensome transactional activity in the future. But to compare Monero to Bitcoin's transaction sizes is somewhat silly as Bitcoin is nowhere near as useful as monero, and utility will facilitate infrastructure building that may eventually utterly dwarf Bitcoin. And to equate scaling based on a node being run on a desktop being the only option for what classifies as "scalable" is also an incredibly narrow interpretation of the network being able to scale, or not. Given the extremely narrow definition of scaling people love to (incorrectly) use, I consider that a pretty crap question to put to Fluffy in the first place, but... ¯_(ツ)_/¯"
u/xmrusher also contributed to the discussion, comparing Bitcoin to Monero using this analogous description:
"While John is much heavier than Henry, he's still able to run faster, because, unlike Henry, he didn't chop off his own legs just so the local wheelchair manufacturer can make money. While Morono has much larger transactions then Bitcoin, it still scales better, because, unlike Bitcoin, it hasn't limited itself to a cripplingly tiny blocksize just to allow Blockstream to make money."
Setting up a wallet can still be time consuming It's time consuming and can be somewhat difficult for new cryptocurrency users to set up their own wallet using the GUI wallet or the Command Line Wallet. In order to strengthen and further decentralize the Monero network, users are encouraged to run a full node for their wallet, however this can be an issue because it can take up to 24-48 hours for some users depending on their hard-drive and internet speeds. To mitigate this issue, users can run a remote node, meaning they can remotely connect their wallet to another node in order to perform transactions, and in the meantime continue to sync the daemon so in the future they can then use their own node. For users that do run into wallet setup issues, or any other problems for that matter, there is an extremely helpful troubleshooting thread on the Monero subreddit which can be found here. And not only that, unlike some other cryptocurrency subreddits, if you ask a question, there is always a friendly community member who will happily assist you. Monero.how is a fantastic resource too! Despite still being difficult to use, the user-base and price may increase dramatically once it is easier to use. In addition, others believe that when hardware wallets are available more users will shift to Monero.
I actually still feel a little shameful for promoting Monero here, but feel a sense of duty to do so. Monero is transitioning into an unstoppable altruistic beast. This year offers the implementation of many great developments, accompanied by the likelihood of a dramatic increase in price. I request you discuss this post, point out any errors I have made, or any information I may have neglected to include. Also, if you believe in the Monero project, I encourage you to join your local Facebook or Reddit cryptocurrency group and spread the word of Monero. You could even link this post there to bring awareness to new cryptocurrency users and investors. I will leave you with an old on-going joke within the Monero community - Don't buy Monero - unless you have a use case for it of course :-) Just think to yourself though - Do I have a use case for Monero in our unpredictable Huxleyan society? Hint: The answer is ? Edit: Added in the Tail Emission section, and noted Dan Bilzerian as a Monero investor. Also added information regarding the XMR.TO payment service. Added info about hardfork
Ritocoin - a 100% community driven project based on Ravencoin
tl:dr: Ritocoin is a code fork of the Ravencoin codebase and continues to track future Ravencoin developments. The project was launched to provide a more community-oriented blockchain with the same functionality as Ravencoin, without a corporate overseer, and with a more flexible model for community participation and development. It’s intention is to be a hacker’s playground for innovative ideas. Specifications Proof-of-Work Algorithm: X21S Block Time: 60 seconds POW Block Reward: Smooth curve down Community fund: 1% first year Difficulty Retargeting: DGW-180 Maximum Supply: 6 months: 993,521,892 RITO 1 year: 1,227,448,858 RITO 5 years: 1,762,210,058 RITO 10 years: 1,820,404,381 RITO 50 years: 2,030,907,256 RITO 100 years: 2,293,707,246 RITO Infinite: 10 RITO per block in perpetuity Pre-mine: None Masternodes: Researching for use case Asset layer: Was enabled at height 50,000 Links Website /ritocoin Explorer Github Whitepaper twitter [ANN] X21S This hashing algorithm was created specifically for Ritocoin, and was designed to resist FPGAs, ASICs, and NiceHash. It is X16S (16 algorithms shuffled and hashed),, followed by 5 additional hashing algorithms: haval256, tiger, lyra2, gost512, and sha256. The inclusion of lyra2 brings numerous advantages, making parallelization of the algorithm practically impossible, with each step relying on the previous step having already been computed. It is a “friendly” algorithm that makes GPUs produce much less heat and uses less electricity during mining. Take your time to learn more about us in the below story of Ritocoin... The spirit of Bitcoin continues to inspire, empower and enable people around the globe. Ten years later, just as it seemed Bitcoin was being defined by commercial agents and regulated governance, that same free and independent spirit imbued the Ravencoin community. In ten short months, however, 30% of the Ravencoin project’s net hash comes from NiceHash and the looming impact of the imminent FPGA mining cards and X16R bitstreams certainly promises to shake up the dream of this GPU miner’s darling. Ravencoin’s fair launch genuinely inspired our developers and supporters. We admire the way Ravencoin came out swinging — fighting for fairness, an honest distribution of coins and a place where GPU miners could thrive. The asset layer attracted many more miners and investors to the pools. Many Ritocoin enthusiasts came from the Ravencoin community, and continue their association with that project. The whole crypto ecosystem should appreciate the work begun by Ravencoin. Obviously they continue to inspire and motivate us to this day. It’s the reason we took action. We decided to start our own project which focuses upon at least two pillars of decentralized networks in the crypto space: community governance and a fair distribution of coins. It is a core belief throughout Ritocoin that in order to successfully develop and maintain this hacker’s playground — a place where a broad range of ideas could be tried and allowed to flourish — these two ideals must be allowed to drive and guide our community. This deep focus on community choices creates a project flexible enough to support most ideas, and agile enough to define new frontiers. A mining network’s distributed ledger is defined by its technology. Like many in the broader crypto-mining community, we value the GPU for its accessibility. These processors are available for purchase all around the world without any legal restrictions. GPUs are vastly more accessible for hobbyists and miners to acquire. They can be shipped nearly anywhere around the globe, a nice benefit to the popular secondary market which has sprung up much to the chagrin of PC gamers. More constraints exist for the ASIC and FPGA miner. Laws in some parts of the world restrict people from using or buying ASIC and FPGA mining hardware. This alone is directly in confrontation with Ritocoin’s core values of decentralized stewardship and sovereignty. The GPU, in essence, is like your voice. Anyone with the means of acquiring one GPU should be able to have their voice heard. ASIC and FPGA mining devalues the GPU miner’s voice and silos that coin’s network away from the small scale and personal mining operator. A truly community driven project means each stakeholder, regardless of size of contribution to the network’s net hash, has an opportunity to build, vote and direct. If you are already familiar with our website, discord or whitepaper, you are probably aware that masternodes had been proposed as a feature of the network from the beginning. This opened the door to ongoing discussions in the Ritocoin community regarding ● A masternode’s true purpose ● What benefit they provide to the project ● How the benefit is realized ● The collateral This discussion, governed entirely by stakeholders across the extended network yielded a defining moment for our vision of flexibility. We have not yet found the potential utility of masternodes, however, the conversation has not reached an extent to where we could abandon the idea. To quote one of our developers during this discussion on our Discord:
“Just want to give a reminder here that even though masternodes are on the roadmap, it is not set in stone. This coin belongs to the community and we will do what we as a community want to do. If we conclude that we want to take this coin a different direction than masternodes, then that is what we’ll do.” --traysi
We are all volunteers at Ritocoin. Our moderators and community leaders try to give immediate support to all users that require it. Contact us in Discord or Telegram, not only for support, but, proposing new ideas, revising old ones and just so you can find a place to get together and find people to hang out with. You are well within your rights to enjoy yourself at any given moment, and, should you feel so inclined to begin working with the team, we just so happen to be looking for ambitious individuals that see themselves as being part of a greater vision, are inspired by change, and inspired to be the change they want to see making things better in this world. Join us in a space where your ideas to build something great can become a reality. We are eager to know what you think is best for the future of Rito. What steps would you take to become more resilient, stronger, fair and decentralized? Because at the end of the day, like it or not, love it or leave it.. this is your coin, too. You can become a significant part of this project. We will help you further develop the role you wish to fill in the cryptocurrency space — influencer, developer, analyst, you name it. This is not a just-for-developer’s playground. We want the enthusiasts. We want the perplexed and the rabbit-hole divers. This is the coin for everyone who is trying to find their place on the path that Satoshi began unfolding in 2008 after the collapse of the housing market rippled out into the subsequent crash of global markets. That’s why we have Bitcoin, remember? Be your own bank. This is why Satoshi and Bitcoin.org kept their software open source. It’s up to us to keep the torch ablaze. Community funds For the first year, about 1% of mined coins are set aside into a developers fund that is used to provide bounties to the community developers who make substantial development contributions to the Ritocoin ecosystem. We have already paid out numerous bounties for important work that has already benefits Ritocoin in substantial ways. We also have another donation-driven community fund that has recently been put together for the purposes of doing fun contests and things like that. Cooperation and collaborations We have discovered a number of fatal flaws in the original Ravencoin codebase and worked with the Ravencoin developers to get those fixed in both Ritocoin and Ravencoin. This work has benefitted Ravencoin in numerous ways and we look forward to a long time of collaboration and cooperation between us and them. Many members of the Safecoin team are also in our discord group, and have collaborated with us in shaping the future decisions of Ritocoin. We have several thousand members in our group and they represent all walks of cryptocurrency life. We invite all coin developers, miners and enthusiasts to join our discord and be a part of this coin that truly belongs entirely to the community. Block reward A couple weeks ago we met for a scheduled meeting in our discord group and had a lengthy conversation about the block reward. Our block reward started at 5,000 RITO per block (every 60 seconds) just like Ravencoin. This extremely high number of coins coupled with the high profitability of mining led to unforeseen consequences with pools auto-exchanging the coin into bitcoin. This dumping by non-community miners had a very negative impact on the community sentiment and morale, as we watched the exchange price plunge. We looked at other coins and realized that this fate has befell many other coins with high block rewards. Following much discussion, we decided to change the reward structure. Starting around March 19th the block rewards will start to slowly go down in a curve until it reaches 1,000. Then the reduction will be even more slowed down with block rewards exponentially dropping at periodic intervals. We have posted charts on our website that shows what the long-term effects of our reward reducing algorithms will be. As a miner, the next 2 months will be a great time to mine and hold, while the block reward is still fairly high. We encourage all miners and cryptocurrency enthusiasts to take advantage of the current favourable block reward and build a nice holding for yourself. Then join the community and be a part of the fun we’re having with this project. This post was prepared by a collaboration of multiple Ritocoin members and was posted to reddit by the core developer Trevali, who posts to reddit under the ritocoin username and will be very happy to answer any questions anybody may have about our project. Traysi (well known in the Ravencoin community) is also an active Ritocoin developer and may come to this thread if needed. We welcome any questions from any of you regarding our project!
Daily analysis of cryptocurrencies 20191008(Market index 39— Fear state)
https://preview.redd.it/ny9n1keqear31.png?width=960&format=png&auto=webp&s=92ec97ba4944f8e5a956222d1c0dcac835e5b5b9 BM Announces The Release Of EOSIO 2 Daniel Larimer, also known as BM, announces the release of EOSIO 2 on Twitter. He voiced on Twitter: “EOSIO 2 rc1 is officially available for community to download and utilize on testnets and even non critical eos nodes. Assuming no major issues this will be the final 2.0 version and it’s super fast!” USDT Issuance Has A Positive Correlation With BTC Price Recently Bitcoin (BTC) analysis of on Oct 8, the dropping of the BTC’s trading volume has hindered the price increase. However, USDT that was issued recently likely contributed significantly to the increase in Bitcoin price. Currently, Bitcoin’s moving average convergence divergence (MACD) histogram has turned positive, signaling a bearish-to-bullish trend change. It is reported that the number of Tether issuance is as many as six times in the past days, which may be the positive signal for BTC price. The Tether issuance has always been considered to be an essential cause of the rise of cryptocurrencies, with pushing the overall recovery of BTC and other cryptocurrencies. According to calculations from researcher TokenAnalyst, Bitcoin prices increase on 70% of the days when new Tether tokens are issued. The $2 billion in USDT that was issued this year likely contributed significantly to the 2019 increase in Bitcoin value. As Tether continued to issue USDT, the trading volume of cryptocurrencies increased, which is consistent with the rebound of BTC on Oct 7. According to statistics, the total number of USDT issued by Tether has reached more than 84 million in the past days. As of 17:30 UTC on Oct 7, Tether has newly issued 12.38 million USDT at block height 13408026; As of 09:50 on Oct 7, Tether issued 20 million USDT on Ethereum blockchain at the block height is 8694221; As of 16:00 UTC on Oct 4, Tether has issued 12.6 million USDT at block height 13320828; As of 13:24 UTC on Oct 4, Tether Treasury has issued $5 million USDT; As of 14:50 UTC on Sept 30, Tether has issued 20 million USDT on Ethereum at the block height 8650692; As of 20:24 on Sept 24, Tether has issued 15 million USDT on Ethereum at the block height 8613884. Ukraine’s Digital Transformation Ministry To Legalize Cryptomining Ukraine’s Digital Transformation Ministry plans to legalize cryptocurrency mining or cryptomining in Ukraine within two or three years. Turkish Government Freezes Over 3 Million Bank Accounts; Cryptos Become Popular Around 2.5 million taxpayers who have not been able to pay their debts and another 800,000 companies and persons owing money for social security expenses have received the notices on Oct 7, Turkish outlet Sözcü Gazetesi reported quoting the tax expert Nedim Türkmen. The total debt of both groups amounts to 150 billion Turkish lira (over $26 billion). According to the publication, all Turkish accounts of the 3.3 million debtors have been affected. The popularity of cryptocurrencies has been growing exponentially in Turkey and the 2018’s currency crisis coupled with high inflation pushed even more Turks to seek refuge in decentralized digital money. A 2019 study exploring how common cryptocurrencies are around the world placed the country, with a fifth of the Turkish respondents declaring they own crypto.
Encrypted project calendar（October 08, 2019）
BTC/Bitcoin:The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（October 09, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
Encrypted project calendar（October 10, 2019）
INB/Insight Chain:The Insight Chain (INB) INB public blockchain main network will be launched on October 10.VET/Vechain:VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10.CAPP/Cappasity:Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11).
Encrypted project calendar（October 11, 2019）
OKB/OKB:OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.”
Encrypted project calendar（October 12, 2019）
BTC/Bitcoin:The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th.
Encrypted project calendar（October 14, 2019）
BCH/Bitcoin Cash:The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token:Ruff will end the three-month early bird program on October 15thKAT/Kambria:Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15.BTC/Bitcoin:The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin:The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th.MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16.ETH/Ethereum:Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades.QTUM/Qtum:Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.
Encrypted project calendar（October 18, 2019）
BTC/Bitcoin:The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decisionHB/HeartBout:HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.
Encrypted project calendar（October 19, 2019）
PI/PCHAIN Network:The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19.LINK/ChainLink:Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th
Encrypted project calendar（October 21, 2019）
KNC/Kyber Network:The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.
Encrypted project calendar（October 22, 2019）
ZRX/0x:The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.”BTC/Bitcoin:The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin:Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Encrypted project calendar（October 25, 2019）
ADA/Cardano:Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Encrypted project calendar（October 26, 2019）
KAT/Kambria:Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS.BTC/Bitcoin:CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Encrypted project calendar（October 28, 2019）
LTC/Litecoin:Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USABTC/Bitcoin:Mt.Gox changes the debt compensation plan submission deadline to October 28ZEC/Zcash:Zcash (ZEC) will activate the Blossom Agreement on October 28th
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin:The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
Encrypted project calendar（November 1, 2019）
INS/Insolar:The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem:The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.
Weekly Report 丨 Insight Chain (INB) Public Blockchain & Ecosystem Weekly Report (June 10 to 16, 2019)
Original: Insight Chain Insight Chain (INB) INB blockchain is the next generation of commercial basic public blockchain, aiming at establishing the world's first data ecosystem public blockchain with infinite scalability by realizing a secure and efficient blockchain system, as well as business data’s structural storage onto blockchain and transaction, and truly supporting high-concurrency Internet applications’ operation on the blockchain. Abstract: The Eagle Program - Insight's "Analyst Recruitment Program" Phase III is in full swing. It will follow up the entire process of training, improve supportive policies, build personal brands and get high rewards at the same time. ▶ Public Blockchain ◀ I. INB Public Blockchain
Organize and discuss the problems and optimization points in the current DPoS process.
Optimize command line clients, and modify interface name and makefile.
Perfect the voting function to realize multiple votes, and provide an api interface for voting/paying/staking.
Replace gas consumption function with net resources.
Provide an interface that can automatically generate unique nodekey and nodeid.
When genesis block is initialized, supernode information is written. When the service is started, the supernode network contained in the genesis block can be automatically connected.
II. INB Wallet INB Wallet is subject to interaction testing and modification. Some functional tests have been completed. ▶ Ecosystem ◀ I. Insight DApp
Insight DApp's report and analyst functions have gone into final testing. After every use case is tested, the logic and test problems are found in the previous design process. Our programmers are stepping up to fix these problems...
Insight DApp’s Personal Center revision and Wallet function get into the development stage. At present, 30% of the development work has been done.
Insight’s featured activity - Q&A Contest is currently under development. Front-end developers are building the H5 page.
The optimization of WeChat login and sharing has also gone into final testing. This function is coming soon.
II. Insight Research Institute
A total of 22 questionnaire surveys were initiated this week, including 7 hot spot surveys, 7 market surveys, 1 ad-hoc survey and 7 investor sentiment surveys.
A total of 3 research reports were published: Research Report on the Impact of Money Supply on Bitcoin Price Trend between China and USA
The Upcoming MakerDAO2.0 Will Generate More Stable DAI Coins - MKR Investment Analysis Report An Arduous and Long Way to Go for the Development of Ulord that Is Technology-focused but Operably Disappointed
As of today (June 16, 2019), there are 69 analysts on the Insight platform. The Eagle Program - Insight's "Analyst Recruitment Program" Phase III is in full swing. The solicitation of investment research reports for Insight Phase I is underway. Please pay attention to the official community notice for the latest news.
▶ Operations ◀
Insight sent out and collected 6,186 questionnaires this week.
There are 5,179 participants in Insight's community rating. Up to now, the scores of BTC, ETH and USDT are 7.35, 7.29 and 7.26 out of 10, respectively.
For "INB SHOP Hourly Seckill", there are dozens of products available. New Arrival: dog consensus meeting tickets, dog coins, crayfish, etc. First Come, First Served; Snap Up.
INB SHOP fulfilled a total of 85 orders and recovered 4,300 INB coins.
By Insight, "an INB red envelope will be offered by answering questionnaires", that is, an INB red envelope will be given out if the official community selects the ideal answer every day. When 300 daily hot spot questionnaires from DraganEx’s official telegram group are completed, an INB red envelope will be offered. Any participant may contact the official customer service InsightChain.
Inisght’s "Q&A Contest” is coming soon. Users can win or get various digital currency rewards by answering questions. Please look forward to the launch.
USD (DXY) up 0.00%, EUR up 0.18%, GBP down 0.11%, JPY up 0.01%, CNY Onshore down 0.41%, CNH Offshore down 0.42%, AUD down 0.40%
VIX down 1.22% to 9.75
Gold up 0.06% to $1,283.60
Silver up 0.08% to $16.84
Copper up 0.43% to $294.20
WTI Crude up 1.15% to $52.74
Brent Crude up 0.90% to $58.42
Natural Gas down 0.07% to $3.06
Corn down 0.35% to $3.53/bu
Wheat down 0.11% to $4.61/bu
Bitcoin up 2.42% to $4,255.00
Treasuries 2yr yields are up ~1.2bps at 1.483%, 10yr yields are up ~3.6bps at 2.346% and 30yr yields are up ~3.3bps at 2.896%
Japan 10yr yields 0.057%, up ~2.8bps on the day
France 10yr yields 0.792%, up ~3.3bps on the day
Italy 10yr yields 2.153%, up ~1.6bps on the day
Spain 10yr yields 1.634%, up ~0.8bps on the day
Germany 10yr yields 0.501%, up ~3.7bps on the day
What’s happening this morning? There wasn’t any major news out overnight (once again). Most of the financial media is discussing themes and trends that have been present for weeks – reflation sustainability, inflation firming, central bank tightening schedules, expansionary fiscal policies (US, Germany, Japan, etc.), US politics (prospect of tax passage, etc.), etc. A lot of the commentary seems to have a skeptical tone with regards to the weeks-long reflation moves and this doubt continues to act as kindling for the recent market shifts (positioning and sentiment are playing a role too, esp. as we head into the final days of the month and quarter – recall many had prepared for the SPX to trade poorly in H2:Aug but the opposite happened and the index is now up ~3.7% from its 8/21 low. This has undoubtedly spurred some chasing along the way). As far as Thurs morning trading, things are relatively subdued this morning. Asia’s major indices saw mixed price action – TPX +0.71%, NKY +0.47%, Hang Seng -0.8%, SHCOMP -0.17%, Taiwan TAIEX -0.29%, Korea KOSPI +0.02%, Australia +0.11%, and India +0.1%. There weren’t many huge themes in Asia although the USD rally is creating some anxiety (the DXY surged Mon-Wed and is flattish so far Thurs). Tech stocks in Taiwan were mixed-to-down small. Europe’s major equity indices are flat-to-up small. Banks remain the big upside standouts (both in Europe and the US) as this group more than any other encapsulates the global reflation sentiments (banks, tech, industrials are outperforming in Europe this morning while basic resources, retail, and utilities lag. H&M is one of the weakest stocks in Europe on back of earnings while the USD strength is hitting basic resources). The Treasury weakness continues as 10yr yields rise a further ~3-4bp so far Thurs morning (10yr yields are higher throughout Europe too). US S&P futures are flat-to-down small.
Calendar of events for Thurs 9/28 – the focus will be on German inflation for Sept (8amET), the BOE “20 Years On” conf. in London (at which Carney will speak), US Q2 data revisions (8:30amET), US advance goods trade balance for Aug (8:30amET), Fed speakers (George, Fischer, Bostic), Gary Cohn’s interview on CNBC’s Squawk Box (during the 8amET hour), Paul Ryan’s interview on CNBC’s Squawk Box, Brady’s comments on tax reform, analyst meetings (AEE and AFL), and earnings (ACN, BBRY, CAG, MKC, MTN, and RAD pre-open and KBH and SGH after the close).
Calendar of events for Fri 9/29 – the focus will be on the China Caixin manufacturing PMI for Sept (Thurs night/Fri morning), the German jobs data for Sept (3:55amET), Eurozone CPI for Sept (5amET), US personal income/spending for Aug (8:30amET), the US PCE for Aug (8:30amET), the Chicago PMI for Sept (9:45amET), the final Michigan Confidence numbers for Sept (10amET), Fed speakers (Harker), and analyst meetings (CMP).
Calendar going forward – there aren’t many major scheduled events on the calendar until CQ3 earnings (the week of 10/16 is the first busy one of the season) aside from a few eco numbers (including the US Aug PCE Fri 9/29 and the US Sept jobs report Fri 10/6). The market largely appreciates that tax will be a CQ1:18 event and thus isn’t looking for anything substantive on that front over the coming months. The next big monetary policy events include the ECB (10/26), BOE (11/2), and anything on the Fed staffing front (i.e. when does Thy God-Emperor Trump make a decision on Yellen?).
Top Headlines for Thursday
US politics – there wasn’t anything incremental overnight but a ton of postmortem articles were published on the events this week (tax unveil, Alabama run-off, Corker retirement, healthcare failure, etc.). The tone of most of these articles is cautious with regards to the outlook for the GOP and the party’s agenda – “Alabama defeat weakens and isolates Thy God-Emperor Trump as his problems grow” (http://wapo.st/2xDxquK), “Bannon focused on repeating Alabama, challenging incumbent Republicans across the country” (http://politi.co/2ybnL1C), “Political disruption helps fuel GOP’s woes” (http://on.wsj.com/2wYIYH4), “Tues was a disastrous day for the whole GOP” (http://on.wsj.com/2fsuf0C), “GOP pitches deep tax cuts, w/few details on paying for them” (http://wapo.st/2yuPgPV), “ Thy God-Emperor Trump/GOP tax plan omits details on who pays” (http://politi.co/2yvcKEH), “ Thy God-Emperor Trump and his congressional allies are about to make the trajectory of debt even worse” (http://on.wsj.com/2fsuTLB), etc.
Sen. Bob Corker says tax reform will make healthcare look like ‘a piece of cake’ – The Hill http://bit.ly/2wlgLus
Healthcare/ACA – insurers decide to stay in the ACA exchanges for ’18 despite fears of broad exits – WSJ http://on.wsj.com/2yIx4D8.
TWTR more effective than FB in disrupting US election - there is evidence that Twitter may have been used even more extensively than Facebook in the Russian influence campaign last year – NYT http://nyti.ms/2yuUTgW
Internet execs (from FB, GOOGL, and TWTR) have been asked to testify before Congress in the coming weeks – Reuters http://reut.rs/2fTffK4
Thy God-Emperor Trump’s pick to head the DOJ’s antitrust division gets approved by the Senate – Bloomberg https://bloom.bg/2yttKeo
All about reflation and rotation: what happened on Wed. US stocks saw solid gains overall on Wed but the bigger story was ongoing rotation as the SPX’s ~40bp advance was somewhat overshadowed by the ~2% ramp in the R2K, the ~1.6% climb in the BKX, the 75- 130bp decline in both staples and utilities, the 7bp increase in 10yr yields, and the ~50bp DXY advance. The latest phase of the reflation trade kicked off back on 9/11 and is now in its 3rd week, encouraged along the way by firmer global inflation readings (China, India, UK, US, etc.), hawkish central banks actions/rhetoric (FOMC, BOC, BOE, etc.), and pro-growth policies in the US (the GOP tax blueprint). Thus it isn’t that stocks rallied solely in response to the Republican tax unveil but instead that blueprint helped to exacerbate existing reflation tendencies. Most of the big sectoral moves comported w/the reflation playbook as small caps and financials (esp. banks/brokers) did very well while staples, REITs, utilities, and telecoms lagged. Tech was something of an outlier – normally super-cap tech would lag during big reflation trades but that wasn’t necessarily the case on Wed.
Economic data/monetary policy update for Thurs 9/28. It was a pretty slow morning of news on this front. GfK consumer confidence in Germany for Oct softened slightly (it came in at 10.8 vs. the St 11). Some of the regional inflation numbers in Germany for Sept showed firming M/M (the full German inflation number will hit at 8amET). Eurozone confidence numbers for Sept came in relatively solid this morning (http://bit.ly/2fB5gMz). The New Zealand rate decision was largely as expected (http://bit.ly/2fsBZQb). o Fed’s Rosengren called for “regular and gradual” rate hikes as disinflationary pressures appear temporary while labor markets continue to tighten – Bloomberg https://bloom.bg/2xD4Tpa
North Korea tensions/challenges – North Korean provocations could increase in Oct, Chinese exports of food to NK spike, US to rotate strategic military assets into South Korea. o North Korea is likely to engage in more provocative behavior in Oct to coincide w/the founding of the North Korean community party and China’s Communist Party Congress. South Korea’s national security adviser Chung Eui-yong said he expected Pyongyang to act around Oct. 10 and 18 – Reuters http://reut.rs/2k6dgX1 o US strategic assets to be rotated into South Korea – the will send “strategic” military assets to South Korea on a more regular basis to better deter North Korea – Washington Post http://wapo.st/2yIoLHu o China’s agricultural exports to North Korea spiked in Jul and Aug; the increase in food shipments shows the resilience of ties between the two countries – WSJ http://on.wsj.com/2xHTq9F
Japan election outcome grows cloudier as Party of Hope gathers strength - the biggest opposition Democratic Party on Thurs said it would step aside to let its candidates run under the Party of Hope banner – Reuters http://reut.rs/2fsHYVk
Brexit negotiations – there are signs of a thawing in the EU-UK Brexit negotiation process as the EU makes a small concession – Bloomberg http://bit.ly/2wYsLlj
Company-specific news update for Thurs morning 9/28 – there are a few items in focus this morning including Toshiba/Bain, H&M, EFX, HAIN, and more. o Toshiba – a deal is (finally) signed – Toshiba struck a formal deal to sell its memory unit to a Bain-led group for $17.7B. The Bain consortium includes AAPL, Dell, STX, Hoya, and Hynix. The two sides hope to close the transaction by Mar. WSJ. http://on.wsj.com/2wYGopc o STX announces details on its participation in the Toshiba deal; STX has committed to provide up to $1.25 billion in financing to support the acquisition. Seagate expects to enter into a long-term NAND supply agreement with Toshiba Memory that will provide continuity of raw NAND for Seagate's expanding SSD product portfolio. Seagate expects this transaction to be accretive to its earnings. o AAPL not giving up fully on LCDs – AAPL could wind up buying advanced LCD panels from Japan Display next year, suggesting the co doesn’t plan on shifting its entire product lineup to OLED. WSJ. http://on.wsj.com/2wm6EWp o HAIN strikes agreement w/activist Engaged Capital – the agreement will overhaul the board and potentially opens the door to a sale of the company (the board will form a group to consider strategic alternatives). WSJ. http://on.wsj.com/2xLOzo1 o EFX – the co’s acting CEO has an editorial in the WSJ this morning – “On behalf of Equifax, I’m sorry” – the article announces a series of steps and actions aimed at rectifying the fallout from the recent hack. http://on.wsj.com/2yvbLUX o H&M – the stock is one of the weakest in all of Europe after reporting disappointing earnings. o HUN, Clariant – White Tale Holdings, the activist group seeking to block the merger, has increased its stake in Clariant slightly – Reuters http://reut.rs/2xCiooZ
Company-specific news update from Wed night 9/27. There wasn’t anything major other than a few SMID-cap earnings (CMTL, JBL, PIR, PRGS, and THO) and none were particularly controversial. JBL beat for its FQ4/Aug period and while FQ1/Nov EPS was guided a bit under the St this stock has already come off a decent amount from its highs on the recent AAPL anxiety (and thus should be fine off the report). PRGS’s FQ3 numbers were inline w/the upside preannouncement and FQ4 was guided inline. PIR’s report was fine but the guidance fell a bit short of expectations. Away from earnings, a group of US senators are calling for an investigation into the recent deal struck between AGN and a Native American tribe (http://nyti.ms/2xGRxtP). According to Bloomberg, Novartis is considering a bid for AAAP (https://bloom.bg/2xHOjGa). What could move the market? Expectations on key topics/events
Taxes – now what? An update on the path forward. With the GOP tax blueprint out in the open Congress will now get down to the hard work of filling in the details and getting a bill to Thy God-Emperor Trump’s desk. However, a budget resolution still needs to pass before anything can get done on the tax front (as this will contain reconciliation instructions permitting the Senate to utilize a simple majority vote on tax). The House should have an easier time moving a tax bill (it probably isn’t shocking to think they could pass something by Thanksgiving) but the Senate is a bigger problem. Sen. Hatch has made several comments on tax that people should be paying more attention to (including that he will essentially ignore the 9/27 blueprint and write his own bill) and Sen. Corker also has expressed skepticism (he said tax reform would make healthcare look like “a piece of cake”). It’s important to remember that the Senate GOP majority is 1) small and 2) divided (as was evidenced by healthcare failing twice) and one of those two descriptions will become more apt after 12/12/17 (the date of the Alabama special Senate election). Once the Senate does move something it still has to be reconciled w/the House and voted on all over again. Taking all this into account, it seems like tax will be a CQ1 event at best. Beyond Mar ’18 the focus will shift towards the Nov mid-terms and that tends to freeze the legislative process. And if there are a lot of aggressive GOP primaries (something which could happen given Moore’s victory in Alabama’s run-off) that could slow the legislative process even more.
Taxes – what do investors expect? The GOP blueprint on 9/27 is being looked at as an opening “best case” bid that will likely differ substantially from the ultimate bill (to the extent there even is one). The final corporate rate will probably wind up being around ~25- 27% while the individual changes will focus more on the lower-end of the income spectrum (doubling the standard deduction, higher child credit, etc.) without meaningfully adjusting deduction rules or consolidating the existing bracket structure. “Repatriation” will happen in some form but the mechanism proposed in the GOP blueprint is quite complex. o Repatriation mechanics – the language in the GOP tax blueprint concerning repatriation and foreign earnings is somewhat confusing. What it sounds like they are proposing is: 1) all int’l earnings accumulated to this point will be hit w/a 1x tax assessment (note – this is different from the int’l cash balances companies report in their filings). The 1x tax rate isn’t specified but most assume it will be somewhere around 10% and companies can pay it over the course of a few years; 2) going forward the aim is to shift to a quasi-territorial system whereby all foreign profits of US companies will be taxed at a reduced rate (it isn’t clear what that reduced rate will be). It sounds like this tax will be imposed regardless of whether the money is actually repatriated. Bottom Line: this system would be an improvement over the current one BUT the proposed changes are very complex and this GOP blueprint today is a lot different from the George W Bush-era 1x repatriation holiday of last decade.
Gov’t funding – the current CR (continuing resolution) will fund the US gov’t until 12/8.
Debt ceiling – the debt ceiling will be suspended until 12/8 but during that time Treasury will refresh its extraordinary measures and buy itself additional months (McConnell recently told the NYT that the debt ceiling won’t become binding again until “well into” 2018). o The debt ceiling – Thy God-Emperor Trump and Schumer have apparently agreed to pursue a deal that would permanently eliminate the debt ceiling (although it’s unclear whether this will actually happen given the enormously busy agenda facing Washington in Dec).
Infrastructure spending – the F18 budget may include nominal funding for an “infrastructure bank” but no one anticipates a major infrastructure spending initiative.
Fed staffing – it may not be until later this year before Thy God-Emperor Trump unveils his intention for the Fed chair. The WSJ on 9/6 said Gary Cohn’s chances of getting the job had declined while Yellen could be asked to stay (CNN echoed that reporting on 9/7) and Bloomberg (on 9/7) says Thy God-Emperor Trump is considering as many as 6 additional people to become chair, including Kevin Warsh, Glenn Hubbard, John Taylor, Lawrence Lindsey, Richard Davis, and John Allison. Recent media reports suggest the frontrunners are Yellen and Warsh. Note that in addition to the chair decision, Thy God-Emperor Trump has several additional positions to fill at the Fed (Fischer’s resignation announcement on 9/6 created the latest opening).
Calendar of events to watch for Mon Oct 2
Calendar for the week of 10/2 – the main focus this week will be on the initial Oct eco numbers (ISMs/PMIs, auto sales, and US jobs) but otherwise it should be pretty quiet as investors await the start of CQ3 earnings (banks kick off the season on Thurs 10/12 but the heavy volume of release doesn’t begin until the week of 10/16).
Calendar for Mon 10/2 – the focus will be on the China NBS manufacturing/nonmanufacturing PMIs for Sept (Fri night/Sat morning 9/30), Eurozone manufacturing PMIs for Sept (4amET), Eurozone unemployment numbers for Aug (5amET), US manufacturing PMI for Sept (9:45amET), US manufacturing ISM for Sept (10amET), US construction spending for Aug (10amET), Thy God-Emperor Trump’s deregulation speech at the White House, and Fed speakers (Kaplan).
Calendar for Tues 10/3 – the focus will be on the Eurozone PPI for Aug (5amET), US auto sales for Sept (JPMorgan is modeling a SAAR of 17.4MM), analyst meetings (F/Ford, INTU, NTAP, and SHW), the WFC CEO testimony before the Senate Banking Committee, the EFX former CEO testimony before the House, and earnings (PAYX and LEN pre-open and IDT after the close).
Calendar for Wed 10/4 – the focus will be on the Eurozone services PMI for Sept (4amET), Eurozone retail sales for Aug (5amET), the RBI rate decision (5amET), the US ADP jobs report for Sept (8:15amET), the US services PMI for Sept (9:45amET), the US services ISM for Sept (10amET), Yellen’s comments (3:15pmET), analyst meetings (BWXT, BXP, MNK, and TTD), the EFX former CEO testimony before the Senate, and earnings (AYI, MON, PEP, RPM, and Tesco PLC pre-open and CAFD and RECN after the close).
Calendar for Thurs 10/5 – the focus will be on the ECB minutes (7:30amET), US factory orders/durable goods for Aug (10amET), Fed speakers (Williams, Harker, George), analyst meetings (BKH, CLX, LUK, and TWOU), and earnings (ISCA and STZ pre-open and COST, HELE, and YUMC after the close).
Calendar for Fri 10/6 – the focus will be on Germany factory orders for Aug (2amET), the US jobs report for Sept (8:30amET), US wholesale inventories/trade sales for Aug (10amET), US consumer credit for Aug (3pmET), and Fed speakers (Bostic, Kaplan, and Bullard). Catalysts – big events to watch over the coming months
Tillerson to travel to China – Sept 28-30.
US inflation – the Aug PCE will hit Fri 9/29.
Catalonia parliament independence vote – Sun 10/1.
China mainland markets closed Mon 10/2-Fri 10/6 for the National Day holiday.
Autos – US Sept auto sales get reported Tues 10/3; Ford/F’s CEO will also be giving a strategic update on that same day (this will be the first major update from the new CEO at Ford).
WFC CEO appearing before Senate Banking Committee on Tues 10/3.
EFX former CEO Richard Smith testifying before House panel on Tues 10/3 and before a Senate panel on Wed 10/4.
Yellen delivers opening remarks at Community Banking conf. Wed 10/4. 3:15pmET.
ECB meeting minutes – Thurs 10/5.
US jobs report for Sept – Fri 10/6.
North Korea - South Korea’s national security adviser Chung Eui-yong said he expected Pyongyang to act around Oct. 10 and 18 (Reuters).
WMT analyst meeting – Tues 10/10 (note that KR has an analyst meeting the next day, Wed 10/11).
PG shareholder meeting – Tues 10/10 (decision to be made on Peltz’s board seat request).
Fed minutes – minutes from the 9/20 meeting will be released Wed 10/11. 2pmET.
HON – the co will announce its portfolio review decision before earnings in Oct.
Bank earnings – the CQ3 earnings season kicks off w/Citigroup and JPM Thurs morning 10/12 while BAC, PNC, and WFC all report Fri 10/13.
US inflation – the Sept CPI will hit Fri 10/13.
CQ3 earnings – the week of Mon 10/16 is the first busy week of the CQ3 reporting season.
Iran – Thy God-Emperor Trump will certify whether Iran is complying w/the nuclear agreement around mid- Oct.
China - the National Congress of the Communist Party of China starts Oct 18.
China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning) – Thurs morning 10/19.
Japan – the country will hold snap elections on Sun 10/22.
Flash PMIs for Oct – Tues 10/24
ECB meeting/press conf. Thurs Oct 26. The ECB is expected to provide guidance on LSAP tapering at this meeting.
US Q3 GDP report – Fri 10/27
Fed meeting – decision Wed 11/1 (no press conf. or supplemental).
BOE decision – Thurs 11/2. The BOE is expected to hike rates at this meeting.
Thy God-Emperor Trump trip to China – he is scheduled to visit China in November.
GE – the co will likely hold an analyst meeting in Nov at which it will provide a refresh of its long-term financial guidance.
OPEC meeting – the next formal OPEC leaders meeting is Nov 30 (a decision on extending the production agreement beyond Mar ’18 could be reached at this gathering).
US gov’t funding/debt ceiling – current legislation funds the gov’t and suspends the debt ceiling until 12/8 (the debt ceiling is unlikely to become binding again until “well into” 2018).
Alabama special Senate election – Tues 12/12.
Fed meeting – decision Wed Dec 13. There will be a press conf. and supplemental. The Fed is expected to hike rates at this meeting.
Dassault Systemes has agreed to buy U.S. peer Exa Corp in a deal valued at about $400 million – Reuters http://reut.rs/2ftGHxm
HAIN strikes agreement w/activist Engaged Capital – the agreement will overhaul the board and potentially opens the door to a sale of the company (the board will form a group to consider strategic alternatives). WSJ. http://on.wsj.com/2xLOzo1
HUN, Clariant – White Tale Holdings, the activist group seeking to block the merger, has increased its stake in Clariant slightly – Reuters http://reut.rs/2xCiooZ
Toshiba – a deal is (finally) signed – Toshiba struck a formal deal to sell its memory unit to a Bain-led group for $17.7B. The Bain consortium includes AAPL, Dell, STX, Hoya, and Hynix. The two sides hope to close the transaction by Mar. WSJ. http://on.wsj.com/2wYGopc
Thy God-Emperor Trump’s pick to head the DOJ’s antitrust division gets approved by the Senate – Bloomberg https://bloom.bg/2yttKeo
Westinghouse Electric – Blackstone and Apollo have teamed to make a bid for bankrupt Westinghouse – Reuters http://reut.rs/2wXfAFR
Full catalyst list
Thurs Sept 28 – Eurozone confidence measures for Sept. 5amET.
Thurs Sept 28 – German inflation for Sept. 8amET.
Thurs Sept 28 – US Q2 data revisions (GDP, PCE, etc.). 8:30amET.
Thurs Sept 28 – US advance goods trade balance for Aug. 8:30amET.
Big Chonis, a well-respected analyst on Twitter, spoke about this level in a recent tweet, explaining that it is still acting as major resistance. “BTC – another backtest of this level of previous major support still acting as resistance… if there was ever a ‘line in the sand’ it’s around this level…bitcoin daily chart,” he Bitcoin looks like it may suffer a gruelling correction in the coming weeks, according to eToro analyst Simon Peters.. The entire cryptocurrency market experienced a notable pullback yesterday with Bitcoin falling to as low as $9,000 before finding a bounce. Notably, these hackers who scammed $120,000 worth of Bitcoin from tweeting with 45 of the accounts also downloaded the archive twitter data of 8 accounts, including Coindesk's. Jitters are now emerging from stakeholders, including federal lawmakers on Twitter's security practices. The outcome of the meet will decide the next direction of Bitcoin prices. Dovishness Meets Bitcoin. The Fed’s meeting is crucial because it allows investors to plan their trades per the economic projections. If the central bank sees a slowdown ahead, then it may push people into the safety of haven assets, mainly cash. On Wednesday, a large number of Twitter accounts were compromised and the hackers used the accounts to tweet about a bitcoin doubling scam. According to multiple reports, a Twitter employee was
Here are your two important levels that you need to keep an eye on. Watch the video by AvaTrade's Chief Market Analyst, Naeem Aslam, to learn more. Download AvaTradeGO - https://ava.trade/Download ... Bitcoin held for nine consecutive days above the middle-line on the Bollinger Bands. The tenth day couldn’t hold it under the weight of sell pressure due to a sudden Twitter scam with BTC at the ... How To Pay Off Your Mortgage Fast Using Velocity Banking How To Pay Off Your Mortgage In 5-7 Years - Duration: 41:34. Think Wealthy with Mike Adams 734,195 views Follow me on Twitter: @moonlamboio DISCLAIMER: I am not a financial adviser. None of what I have communicated verbally or in writing here should be considered financial advice; it is not. Do your ... Twitter profiles of famous figures like Elon Musk, Bill Gates, Jeff Bezos, Warren Buffett, Barrack Obama etc were hijacked and used for a bitcoin cryptocurrency scam. Watch the malayalam video to ...