Thursday, January 28, 2021

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Uniswap passes $13 as whales step into the market

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uniswap

Uniswap’s price soared to new all-time highs of $13.714 as the number of whale addresses surged. On top of that, the social media attention, as well as the number of UNI bulls grew exponentially in recent days.

Fundamental analysis: more whales are entering the market

Uniswap (UNI) saw a major increase in created addresses, which increased from 131, recorded on 31 December, to 160 at the time of writing, representing an 18% increase. On top of that, the number of whale addresses also increased, most likely becoming one of the main catalysts to spark the recent push towards the upside. Uniswap’s outlook is heavily tilted towards the upside, as almost every single valuable metric is positive, or on the right track to be positive.

UNI managed to gain a whopping 54.05% week-over-week, outpacing BTC‘s loss of 11.61% and ETH‘s loss of 1.22%. At the time of writing, UNI is trading for $13.45, representing a month-over-month price increase of 118.16%. The cryptocurrency boasts a value of $3.805 billion, and is currently the 13th largest cryptocurrency by market cap.

UNI/USD technical analysis: unstoppable bullish trend – UNI is heading towards $15

UNI has been in a strong bull trend since late December, with price pushing up with more confidence in 2021. After passing the $10.89 mark three days ago, UNI took a whole day to consolidate and confirm its position above this level before pushing further up. This made the upswing more healthy and more reliable, which could, in turn, result in a stronger push or a much smaller retracement.

Uniswap’s push towards the upside is most likely not over yet, as the vast majority of analysts are calling for a $15 UNI in the short-term.

UNI’s immediate support levels are mostly shown on smaller time-frames, while its first strong support shown on the daily time-frame is the 21.6% Fib retracement, sitting at $10.89. On the other hand, its upside is guarded by the ATH level of $13.714, while the zone above it doesn’t have any resistance levels set.

UNI/USD daily chart
UNI/USD daily chart

UNI’s RSI on the daily time-frame is currently well into the overbought territory, with its current value sitting at 76.22.

UNI/USD 1-hour chart

If we zoom in to UNI’s hourly time-frame, we can see the final stages of its uptrend, where the price bounced off of the 50-hour EMA two times, and pushed to the upside with heavy volume both times. The most recent surge has brought UNI’s price to a new all-time high of $13.714.

UNI is currently consolidating right below the all-time high level, and still has a chance of going further up. On the other hand, its downside is well-protected by the 21-hour and 50-hour EMAs.

The post Uniswap passes $13 as whales step into the market appeared first on Invezz.

The Business of Blockchain and Bitcoin: How Levon Movsessian Pioneered a Movement

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Levon started his entrepreneurial journey at the age of 20 in the real estate market

Toronto, Ontario, Jan. 26, 2021 (GLOBE NEWSWIRE) — Emerging technologies regularly serve as enabling forces for economic, social, and business transformation. This is why Bitcoin and Blockchain are on the rise. Blockchain is the underlying distributed ledger technology that allows cryptocurrencies, like Bitcoin, to work. All transactions that are written in blocks are immutable, and information can never be altered or removed. The nature of the technology makes it highly secure in theory, and it can be used for carrying out real-time, verifiable transactions between two parties.

When Blockchain was in its infancy, few prospective users saw its potential. As the years passed, excitement regarding the technology’s future steadily grew since it was first conceptualized in 2008 by a pseudonymous person, or persons, Satoshi Nakamoto. Now, the Blockchain space is filled with amazing individuals. People like Levon Movsessian, a Blockchain consultant, real estate expert and entrepreneur, are more than willing to advance the technology to new heights and to leave their mark in the Blockchain industry as an early adopter.

Levon started his entrepreneurial journey at the age of 20 in the real estate market. He was simultaneously pairing his love for animals with his philanthropic efforts — working with multiple animal charities to raise money for global rescues and foundations while expanding his network. Then, in late 2013, he heard the buzz around Blockchain and cryptocurrency. After attending group events discussing Blockchain and the future of Bitcoin, his knowledge expanded by speaking with coders and professionals developing this technology. The concept was a marvel — giving people more control over their finances, and freedom to take it wherever they go. Seeing the technology’s importance, he began teaching himself everything about Blockchain and became a pioneer for the industry in his early twenties. After solidifying himself as an expert, he built a Blockchain school to assist people in what they needed to know. He eventually decided to close down the school to focus his efforts on other aspects of Blockchain.

Moving on from the education sector, he decided to consult and promote Blockchains for companies. He founded Quantum Block in 2017 to continue developing Blockchain and garnered more knowledge on the technology. He knew when he closed his school that people still needed access to this information, knowing fully well that the information available was complex and inaccessible for many. Knowing there had to be a better way to share this information, he took to Instagram, TikTok, and his own podcast to spread his knowledge about Blockchain technology and Bitcoin — sharing informational videos about the market and how to protect your assets.

Levon amassed much attention and acclaim for his knowledge and wants to show others that they can become successful in the cryptocurrency market if given the right education. Pushing the envelope on how cryptocurrency is used in our current markets, Levon made a statement to the world by being the first to purchase a Rolls Royce using Bitcoins in 2017. This milestone, while impressive, isn’t singular — the potential of cryptocurrency promises financial success to anyone who possesses it. In the past three months alone, Bitcoin has gone up in value from $11,000 USD per Bitcoin to $40,000 USD per Bitcoin.

As it’s becoming more widely used and recognized, Bitcoin and Blockchain technology will make fiat currency and data storing a thing of the past. Levon didn’t know at the time how much it would impact his life and the world. But with the connections he made and the knowledge he claimed, Levon Movsessian pioneered a movement that would affect the world’s trajectory. It is clear that Levon Movsessian is an authority figure in the world of cryptocurrency, and it will be interesting to see what his next moves are in 2021.

Media Contaact:

Levon Movsessian 

[email protected]

 

This news has been published for the above source. Levon Movsessian [ID=16617]

Disclaimer: The information does not constitute advice or an offer to buy. Any purchase made from this story is made at your own risk. Consult an expert advisor/health professional before any such purchase. Any purchase made from this link is subject to the final terms and conditions of the website’s selling. The content publisher and its distribution partners do not take any responsibility directly or indirectly.  If you have any complaints or copyright issues related to this article, kindly contact the company this news is about.

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WhatsApp, Signal and SnatchApp: Luigi Wewege explains how investors view the online payments market

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Misinformation Social Networks
  • Even though WhatsApp still lays claim to 2 billion users, its recent privacy changes has led to many of its competitors catching up to its market share lead.
  • Signal and SnatchApp are emerging as new market leaders in light of this change.
  • With online payment integration, SnatchApp’s privacy-focused approach alongside its convenience strengthens its position with future investors.
  • Industry veteran, Luigi Wewege, details the potential for investors.

The use of messaging apps has never been more prominent, and they remain a lucrative source of investment seeing as 2.52 billion people use messaging apps on their mobile devices. By 2022, this number is projected to grow to 3 billion.

Although previously focused on being solely a method of communicating messages, images, and documents with others, prominent messaging apps are now establishing themselves as valid online payment platforms. As such, the significance of these chat apps now lies also in their online payment capacity and their position in the money transfer industry.

Many platforms already make use of B2C (Business-to-Consumer) interactions which often incorporate innovative chatbots. Luigi Wewege, an industry leader known for predicting the utilization of innovative technology in the financial services industry, recognizes that businesses need to infiltrate the messaging app industry as a new source of consumer activity. He has detailed his years of experience in predicting significant market trends in the fintech, e-commerce, and affiliate industries in his authoritative FinTech/Digital Banking guide available on Amazon. The future truly lies in the capacity of these messaging apps with regards to P2P (Peer-to-Peer) interactions.

In light of WhatsApp’s privacy changes, “SnatchApp and Signal have the potential to become huge targets for private equity funds and investors even as WhatsApp is fighting back hard to prevent more fallout and “unsubscribes” following the recent privacy changes,” details said Luigi Wewege.

An overview of the most competitive players:

Chat Apps - an overview

SnatchApp, Whatsapp, Wechat, Line, Telegram and Signal are currently notable contestants in this space. Below, we will discuss several notable points in relation to some of these apps.

WhatsApp

WhatsApp’s position as a part of Facebook has always seemed a bit off-point seeing as the platform used to pride itself on its privacy-focused approach to messaging. However, as of the 8th of January 2021 many people’s fears will be realized as WhatsApp announced that its terms of service would be amended and that users would need to share identification data to continue using the service.

However, even though competitors are seeing increases in their user-bases in the short term, investors should not be too concerned in the long run. Even though the privacy features of WhatsApp remained intriguing to many users, its popularity lay primarily in its convenience. So even though many users are shifting their attention to other platforms, WhatsApp may retain its popularity should the platform continue to be used by the user’s family, friends, and colleagues.

WhatsApp has also cemented itself as a solid platform with the introduction of its online payment capability in accordance with the National Payments Corporation of India (NPCI). It works simply as users can send money as easily as they would send a photo or digital file on the app. Should it go well in India, the country with the largest number of WhatsApp users which stand at 200 million, the company plans on rolling it out all around the world.

However, Atmanirbhar Digital India Foundation (ADIF) believes that these changes are a threat to the payments and financial data of users. Consequently, they believe that increased oversight is required.  Ajay Data, the Secretary-General of ADIF believes that WhatsApp is not being entirely transparent about what it intends in relation to one of its provisions that UPI transactions on WhatsApp use Facebook infrastructure and because of this, some user’s data may be disseminated in order to offer customer support to the user or maintain the security of payments.

In Data’s mind, “as privacy of data of 40 crore Indian citizens is at stake, Indian government may consider conducting a CERT-IN audit of WhatsApp servers to ensure that payments data is stored only in India and appropriate measures are applied to protect customer data.”

Signal

Signal is an open-source platform which uses end-to-end encryption and focuses on privacy by using end-to-end encryption.

The platform has seen millions of new users as a part of the movement away from WhatsApp, especially as the app was recommended by Tesla CEO Elon Musk on Twitter and tweeted by Twitter CEO Jack Dorsey.

SnatchApp

SnatchApp has emerged as one of the primary competitors of WhatsApp and one which may benefit from the mass exodus the new privacy changes have prompted. It is expected that its market share will grow exponentially – especially seeing as it already offers payment integration with PayPal, Stripe, and Facebook native payments.

The app has already seen more than 500 000 downloads all around the world on Google Playstore, and it uses state-of-the-art artificial intelligence chatbots developed by Henri and Avi Benezra.

Several apps are still pre-IPO:

Although apps like Zoom rocketed 72% in the first week of it’s IPO in 2019, many players like SnatchApp are still pre-IPO and may currently be the target of VC firms. Those apps that managed to avoid the political arena will likely also avoid the wrath of bigger players, the likes of certain hosting companies that booted out Signal from it’s servers. It is clear that the value proposition of privacy, security and chatbot integration are the safest route to growth without causing turbulence. Whereas monetization methods are plenty, apps like Whatsapp and SnatchApp that offer money transfers, are playing one of the biggest trends of our time: the revolution in fintech and online payments.

Final Take

WhatsApp’s privacy changes have sparked massive outrage, even as they may survive in the long run with investors remaining profitable. Ultimately, the platform that reaches the perfect mix of privacy and convenience may prove the most profitable.

“The current standard for any platform to last is convenience. Even though security concerns are growing, and more and more people want to know that their data is safe, the primary aspect that will draw any user is convenience. The integration of payment methods into messaging apps which people use every day is the height of convenience and it is what will draw users and, as a result, investors,” says Luigi Wewege – Senior Vice President of Caye International Bank and Advisory Board member at Fort Kobbe.

 

The post WhatsApp, Signal and SnatchApp: Luigi Wewege explains how investors view the online payments market appeared first on ValueWalk.

GameStop Insanity: A Comparison To Tilray

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Tilray

Whitney Tilson’s email to investors discussing GameStop insanity; Reddit post; comments by Berna Barshay, Matt Levine, and Andrew Left’s comments; my thoughts; comparison to Tilray; my prediction.

Q4 2020 hedge fund letters, conferences and more

GameStop Insanity

1) Like everyone else who follows the markets, I can’t tear my eyes away from the stock of video-game retailer GameStop (GME), which in recent weeks has been on one of the wildest rides I’ve ever seen…

Just yesterday, GME shares opened at $96.73, up from Friday’s close of $65.01. Then, in a little more than an hour, they soared to $159.18, then crashed to $61.13, before finishing the day at $76.79 (and then rose to $100 earlier this morning).

Lots of retail investors have made a fortune, while professionals have gotten clobbered. To wit, one of the largest hedge funds in the world, Gabe Plotkin’s Melvin Capital Management – which started the year with $12.5 billion under management – suffered losses of 30% in the first 15 trading days of this year thanks to its short book (which of course included GameStop)… forcing it to do an emergency $2.75 billion capital raise yesterday, according to this Wall Street Journal article: Citadel, Point72 to Invest $2.75 Billion Into Melvin Capital Management. Excerpt:

Citadel and Point72 Asset Management are investing $2.75 billion into hedge fund Melvin Capital Management, which has been hard hit by a series of short bets to start the year.

The influx of cash is expected to help stabilize Melvin, which in 2021 has lost 30% through Friday, said people familiar with the firm. Melvin started the year with $12.5 billion and had been one of the best performing hedge funds on Wall Street in recent years. The losses stem from Melvin’s array of short bets against companies and have stunned clients and other traders. Among other short positions, Melvin bet against the surging stock of videogame retailer GameStop.

Reddit Post

2) Here’s the first post I was able to find about the GameStop short squeeze, which was posted on the WallStreetBets forum on Reddit by user “Jeffamazon” four months ago: The REAL Greatest Short Burn of the Century. Excerpt:

Sup gamblers. Feel bad about missing the gain train on Tesla (TSLA)? Fear not – something much greater and stupider is here.

You know Citadel? The MM [market maker] that took all our money today? Well now we finally won’t be at the mercy of the MMs. Instead, we’re going to temporarily join forces with the Galactic Empire and hijack the death star.

Our choice of weapon… $GME.

The Setup:

Huh?? Isn’t GME an absolute piece of trash stock? NO (will explain below), and even if it is, it’s not entirely relevant. The this turn around is going to make TSLA’s short burn look like warm afternoon tea.

Why? Well, most short squeezes are mostly math. This one is special because we have math AND great underlying news.

To be clear, this will happen whether or not we participate. I prefer us idiots to be a part of history. Here’s what’s up:…

Once the squeeze takes off, not even Citadel will be able to stop it. In any case, if they do start to buy puts, we can sell the puts as a bonus.

Like /u/dlkdev once said, the only way to beat a rigged game is to rig it even harder.

This is not fraud. There is no manipulation here. We aren’t forcing anyone to do anything. It’s going to happen with or without us. But I want to ride.

Earnings will light the match, but we can add all sorts of gasoline to the fire…

GME is TSLA one year ago. GME is AAPL in 2017. Add to that the greatest short burn you’ll see in history, and you’re in for a hell of a show.

Comments By Berna Barshay And Matt Levine

3) For insight on what’s happening with GameStop, I recommend reading my colleague Berna Barshay’s Empire Financial Daily, What to Make of GameStop’s Parabolic Move, and Bloomberg columnist Matt Levine’s article, The GameStop Game Never Stops.

Andrew Left’s Comments

4) My friend Andrew Left of Citron Capital, who was up 155% last year, was publicly short GameStop, so I called him last night to ask for his thoughts. He had plenty – and gave me permission to share them:

The market has come to its lowest form. This is even crazier than Tilray (TLRY) [see below] and Tesla (TSLA). The Reddit crowd apparently said, “Let’s find a company that’s completely dead – and because everyone knows that, there’s a big short interest – and engineer a short squeeze.”

There’s not a five-year-old in the country who can kick my ass… but 1,000 of them probably could. That’s what happened here.

Even so, my losses have been minimal – and I’m making it back by selling ridiculously priced calls. For example, when the stock was at $75 today, I was getting paid $18 for $90 strike calls and $14 for at-the-money calls that expire on Friday! If you’re a professional player, you adjust to the market to make money off it.

There’s no “there, there.” GameStop is toast. If they’re smart, they’ll do an equity offering, but then they’ll continue puking quarter and quarter and the Reddit traders will move on. They’re already saying, “What’s the next one we’re going to go after?” They are so crazy they wouldn’t buy a stock that would make them 40% in a year. I’ll bet most of them aren’t even aware that they’re going to have to pay taxes on their 2020 gains on April 15.

I’ve never been more bearish on the market than I am right now because of foolishness like this. The market today is a total get-rich-quick scheme. The lunatics are running the asylum.

I don’t know how it ends, but it’s not sustainable. The frenzy, the gang mentality, if you say anything negative, they go crazy on you, posting their trade tickets and bragging about their winnings… It’s nutty.

My Thoughts:

5)  I think Andrew is right that there’s a lot of foolishness in the market, but I’m not ready to call a top yet. When I look at the biggest stocks that make up the bulk of the S&P 500 Index, I see high – but not bubble-level – valuations (with the possible exception of Tesla).

GameStop vs Tilray: A Comparison

6) Some are calling GameStop a once-in-a-generation short squeeze, but something similar happened in the case of pot stock Tilray just over two years ago. The cannabis sector was red-hot, and Tilray was the hottest stock in it. It had gone absolutely parabolic.

My cousin, a fireman out in eastern Washington near Yakima – who had almost no investing experience – confessed to me that he owned it.

I slapped my forehead.

“What are you doing?!” I nearly shouted at him.

“But Whitney, I’ve made a lot of money,” he said. “I bought it last month at $50, and now it’s at $150.”

At the time, I had never even heard of the company. But I did some research on it and saw that it was trading at 500 times revenues.

It was clearly a ridiculous bubble, and I said so in one of my daily e-mails.

A producer at Yahoo Finance saw it and invited me to come in for a TV interview. That very afternoon, as I was going down to Yahoo’s studios, TLRY shares spiked to $300. It was trading at 1,000 times revenue and had a $30 billion market cap!

And here was a clincher… As I was walking from the subway into the studios, my then 19-year-old daughter, a sophomore in college, called me.

Despite years of attempts, I had never been able to interest her in the stock market. At one point, I even set up a $5,000 account for her so she could learn about investing by buying a few stocks of stores that she shopped at or services that she used. It was all to no avail…

So I had to chuckle when she said, “Daddy, I’m taking an investing class. We each have a model portfolio with $25,000 to invest. My friend told me to buy Tilray, so I did. And now it’s up a lot. What should I do?”

At that point, I knew with certainty that the stock had to be at a top.

“Sell it immediately!” I said. And she did, banking a solid profit (on paper of course).

I went on television minutes later, shared this story, and concluded: “Folks, my daughter – truly the world’s most clueless investor – just bought her first stock, Tilray, based on one of her friend’s stock tips. I cannot think of a better sign that it’s peaked.”

I predicted that the stock would fall to less than $100 within a month and would be down 90% within a year. Sure enough, that’s exactly what it did, as you can see in this chart (it ultimately ended up declining by more than 99%!)…

GameStop Tilray

Given my success in identifying the tops of certain bubbles, you might think that my advice is to buy these stocks or sectors, ride them up, and then sell (or, better yet, short) them at the top.

Not at all. I’ve gotten lucky a few times, but it’s just too hard to do this consistently.

Rather, my advice is to simply avoid hot sectors and stocks altogether.

Look outside of what’s popular. Do your own research, think independently, and look for an area of the market where you might have an edge – in the industry where you work, a company you know well, a store or restaurant that you frequent, etc. That’s where you might discover something that other investors are missing.

Best regards,

Whitney

P.S. I’m going to stick my neck out and make the same prediction for GameStop that I did for Tilray: From yesterday’s peak, it will be down by two-thirds within a month (less than $53.27 per share) and 90% within a year (less than $15.98 per share).

 

The post GameStop Insanity: A Comparison To Tilray appeared first on ValueWalk.

Zionodes – Bringing a Unique Bitcoin Mining DeFi Experience

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SINGAPORE, Jan. 26, 2021 (GLOBE NEWSWIRE) — Bitcoin miners are on a winning spree. They successfully survived the 2020 pandemic, rolled through the Bitcoin halving and now the network is seeing some of the best hash rates ever as these operations are trying to reach new levels of decentralization. Bitcoin mining almost in its second decade of operation has its tables turned through ups and downs, scams and great technology. From notorious scams to billions of dollars being invested by heavyweights in the Bitcoin Mining sector, this industry is filled with impressive projects. One project which is taking Bitcoin Mining up a notch is Zionodes.

Transparency, user control, and Decentralization – top priorities of Zionodes

Even though there are positive signs that Bitcoin mining is becoming more decentralized there is still a long way to go before this industry can be considered purely decentralized. Bitcoin mining is still at risk of powered centralization through possible state-level coercion with vertical/horizontal integration. Like most profitable enterprises within the industry, the natural pull of Bitcoin mining is towards more control by one or a small number of controlling bodies.

Two friends, Matvii Sovoraksha (CEO of Madfish, Creator of Thanos wallet for Tezos) and Olga Kochmar (Founding member of Bitcoin Association of Hong Kong) who are Blockchain and Cryptocurrency enthusiasts started Zionodes with the understanding that decentralization needs to be the core value given. Zionodes is decentralizing Bitcoin Mining with its marketplace and tokenized ASICs platform.

Zionodes Marketplace

Zionodes gives miners the power of information. Nothing is kept hidden from them as all the operations are independently managed on your own pools, wallets, and earnings. It doesn’t follow the industry norms of hidden fees and hash rate contracts. Zionodes does not believe in this and has changed the terms of these contracts. This means that the user becomes the complete owner of the equipment. Even when the one-year contract expires with the data center, the user can submit physical delivery of machines to the designated locations. This is something not all of them give.

All the resellers and data centres are verified and all the ASICs are immediately available after two weeks of installation. Equipment performance data is tracked over a period of 10 days before it is being made available. The users are made aware of this information and they can thus act based on this information.

The platform provides open statistics on farm operators and resellers based on which decisions can be taken. The platform follows a transparent policy method of involving any type of users at all stages and giving them the liberty to decide based on the information.

The latest offering – ASICs Tokenized Platform

Bitcoin mining is expensive, can get technical, requires heavy infrastructure to begin with. Hence Zionodes’ unique DeFi offering brings in an easier, cheaper and more flexible way to get into mining in a far more lucrative manner than imagined.

The Zionodes new offering brings to light how easily one can buy a Bitcoin Mining Machine such as the Antminer S15 and reap in rewards daily. The only issue right now faced is the high gas fees on the Ethereum network. The team at Zionodes suggest holding your rewards instead of withdrawing them for at least a week or month as it can then consolidate and present a stronger case in terms of profit.

The solution is not just for those who are technically sound. For those who are interested in Crypto can easily become a part of the Zionodes community. In addition to this, there are no barriers to entry and exit making it simpler to diversify risks and reinvesting rewards in a flexible way.

Bitcoin Mining machines call for heavy machinery, needing larger spaces and technical support to ensure it runs smoothly. Matvii and Olga believe that it is high time that there is disruption and change from age-old mining ways. It is now time to come out of these recurrent problems and make it easier for users and miners alike.

With Bitcoin becoming popular, the Mining industry actively needs more players and such developments in the space is a breath of fresh air to invite young talent, and make for a more environmentally friendly mining solution.

Media contact

Company: Zionodes

Contact: Amrit Mirchandani, Head of Communications

E-Mail: [email protected]

Telephone: +91 8788216349

Address: 08-55, Paya Lebar Square, 60 Paya Lebar Road, Singapore

Website: https://www.zionodes.com/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28214ff8-dfa0-40ab-84dd-9b52750397d0

Will Biden’s Executive Blitzkrieg Defeat Gold?

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Biden Gold

A new sheriff is in in town, and he’s making some rearrangements. Will the new order of things support the price of gold?

Q4 2020 hedge fund letters, conferences and more

Reversal Of Many Policies

What a blitzkrieg! Joe Biden certainly wastes no time in signing executive orders. Since inauguration, he introduced several policies, including mandating masks on federal property, in airports and on certain public transportation, and the end of a travel bank on some countries. Biden also terminated the construction of the wall at the Mexican border, halted the withdrawal from the WHO and placed the U.S. back on the path to rejoining the Paris climate accord.

We’re seeing a reversal of many of Trump’s policies. The new President’s actions shouldn’t materially affect the gold market , but if they manage to restore widespread confidence in the U.S. government, they could limit the safe-haven demand for gold .

Biden also modified the government’s stance on the epidemic in the U.S., treating it very seriously. He undertook several executive actions intended to speed up the production of COVID-19 supplies, thereby increasing testing capacity, and hopefully reducing the spread of the coronavirus . Biden also started a “100 days mask challenge”, urging Americans to wear masks, and announced a “National Strategy for COVID-19 Response and Pandemic Preparedness”, arguing that “America deserves a response to the COVID-19 pandemic that is driven by science, data, and public health — not politics”.

All these actions show that combatting the pandemic will be Biden’s priority and that he intends to deliver a more centralized federal response to the epidemiological threat. It’s high time! As the charts below show, the coronavirus has already infected almost 25 million Americans while killing more than 400,000.

Biden Gold

Figure 1

Biden Gold

Figure 2

Jump In Gold Prices After Biden’s Inauguration

The U.S. equity markets welcomed Biden’s actions by reaching new record highs. However, these gains and increased risk appetite among investors didn’t prevent the modest jump in gold prices in the aftermath of Biden’s inauguration. As the chart below shows, the price of the yellow metal increased to above $1,860 on Thursday (Jan. 21).

Biden Gold

Figure 3

Implications for Gold

But what do Biden’s rearrangements imply for the gold market in the medium and long run? Well, mainstream economists and the markets expect that Biden’s actions, including fiscal stimulus, will speed up the fight with the pandemic and will revive the economy. This positive sentiment could be negative for the yellow metal.

However, I believe that people overestimate the positive economic impact of the upcoming stimulus. After all, many people have money, but they can’t spend it due to widespread lockdowns, and there will be a huge price to pay for aid coming in the form of a ballooned fiscal deficit and public debt . But the problem is that neither money nor debt constitute the real wealth, so I remain skeptical about the benefits of another government’s fiscal package.

Of course, my opinion is irrelevant here. What is important is that Mr. Market likes the idea of additional stimulus, so the bonanza in the financial markets can last. The expectations of higher economic growth and accompanying stronger risk appetite could be negative for gold.

The Limitation Of The Debt Driven Growth

However, at some point, the fragility and limitation of the debt driven growth will become clear – you cannot print wealth – and investors will face the harsh reality of a debt trap . It will be delayed, but there will be a reaction to the increased debt and the risk of higher inflation . This reaction, in turn, should be beneficial for the yellow metal.

Not long ago, I was afraid that U.S. fiscal policy will be less dovish in 2021 – however, with Biden’s fiscal stimulus in the cards, the fiscal policy could actually become even more lavish this year than it was in 2020. It should also be a supportive factor for the price of gold, especially considering that it would force the Fed to remain very accommodative as well.

If you enjoyed today’s free gold report , we invite you to check out our premium services. We provide much more detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today . If you’re not ready to subscribe yet though and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Sign up today!

Arkadiusz Sieron, PhD

Sunshine Profits: Effective Investment through Diligence & Care

 

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European stocks fall; focus on Fed and U.S. tech earnings

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LONDON (Reuters) – Europe’s share indexes opened lower on Wednesday, while investors focused on the U.S Federal Reserve meeting and U.S. tech giants’ earnings. MSCI world equity index, which tracks shares in 49 countries, was down 0.1% at 0842 GMT, having edged down in the last week after it hit a new all-time high on Jan. 21. In the Asian session on Wednesday, shares were hurt by some profit-taking, as investors grew wary of stretched valuations. European share indexes opened in the red. The STOXX 600 was down around 0.3% on the day at 0854 GMT. London’s FTSE 100 was down 0.2% while Germany’s…

From a ban to CBDC: RBI considers its own crypto

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Crypto trading returns to India as the Supreme Court lifts the ban

The Reserve Bank of India (RBI) has gone quite a long way when it comes to cryptocurrency in the past twelve months. Originally, it banned local banks in India from providing services to crypto businesses, only to have its decision revoked by India’s Supreme Court. Now, the bank declared that it is ready to explore the idea of a digital rupee.

RBI says it is exploring the need for a digital rupee

The mention of the native crypto came in a recent booklet on payment systems published yesterday, January 25th. In it, the RBI noted that it will explore whether or not there is a need for a CBDC, and how to operationalize it if it finds that the country’s economy could benefit from it.

The bank admitted that digital coins have gained quite a bit of popularity in recent years, but it noted that the local regulators and governments have been skeptical about them. Despite this, the RBI is willing to explore the potential need for CBDC.

It is also worth mentioning that the bank has commented on researching and exploring digital currencies in the past, as well. In 2018, for example, it formed an inter-departmental group dedicated to studying and providing guidance on CBDCs and their desirability and feasibility.

The goal back then was to reduce the costs of printing banknotes, although the bank was willing to look into other benefits.

Crypto payments on the rise in India

Shaktikanta Das, the bank’s governor also addressed CBDC in December 2019, noting that it is too early for them, and that there are technological barriers preventing it from achieving CBDCs. He also noted that the RBI is very clearly against traditional cryptos, and that issuing currencies is a sovereign function.

With digital payments being on a rapid rise in India, particularly through cards and smartphone apps, the bank has, apparently, changed its stance. It is also looking into offline payment solutions for remote areas, where the internet is slow or non-existent at this time.

Its pilot scheme has already been undertaken, and it will last until March 31st of this year. The bank will decide how to proceed according to data it collects in the meantime.

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Bitcoin price seemingly hit bottom at $31,500

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Bitcoin price hit a new all-time high at $41,999 according to CEX.IO data some two and a half weeks ago. Since then, however, the price has dropped by around $10,000, and while it has initially struggled to go back up, these efforts have, unfortunately, failed. These days, it would seem that the price has entered a period of relative stability, mostly fluctuating between two border levels.

Fundamental analysis: Crypto uncertainty greater than ever in the US

Bitcoin price’s new record high is still a major topic in the crypto industry, even though it has been some time since the coin reached it. In the following period, however, the price of the leading cryptocurrency has dropped somewhat, mostly because of elevated uncertainty regarding the future of crypto in the US.

The biggest drop in the coin’s price in the last week happened around January 21st, after the US finally got its new president, Joe Biden. While now-former President Donald Trump was never a fan of crypto — it is expected that Biden’s stance towards digital coins could be equally bad.

The new Treasury Secretary, Janet Yellen, said more than once that she believes that BTC is only used by criminals for illicit purposes, such as money laundering, terrorism financing, tax evasion, and alike.

But, this is likely only the initial concern in the crypto industry, and the situation will settle in due time. Many have stated that Yellen can be reasoned with, and that having her in charge is much better than having her predecessor, insisting that she only doesn’t understand crypto yet.

It is not all bad, however, as Microstrategy CEO stated that he thinks 2021 will be a good year for Bitcoin. Given the fact that Microstrategy holds massive amounts of BTC on behalf of institutional clients, it is very likely that the company has done extensive research in order to recommend the best course of action.

For now, however, the US is waiting for Biden’s regulatory approach to BTC and the crypto sector, in general, and that really reflects on BTC price, which is basically standing still, with only minor fluctuations.

Technical analysis: Bitcoin price seemingly stabilized

About a week ago, BTC price was seemingly on its way back up after dropping from its ATH at nearly $42k to $31k. It managed to climb to $37,875 before it started experiencing a major drop on January 19th.

The drop lasted several days, taking the coin from the mentioned high to $28,810, according to CEX.IO. After that, it saw a strong recovery which took it up to $33,900 on January 22nd.

Ever since then, the price has been going from $31,000 to $34,000, occasionally venturing above this level, although only briefly before returning back down.

At the time of writing, Tuesday, January 26th, the coin is once again approaching its support at $31k, currently sitting at $31,432. It is likely that the next few days will bring another small recovery, before the price starts dropping towards its support once more.

What will happen to BTC later in 2021?

I expect that the Bitcoin rally will resume in months to come. The coin has shown excellent potential and the will to grow, and its stock-to-flow model indicated that Bitcoin should keep surging as a consequence of last year’s halving, as well as increased institutional investor interest.

The demand is growing, while the coin’s production rate is quite low, which could cause the coin to go up to $50,000 by the end of Q1 of this year. However, I expect that $50k will not be the end, as the coin could grow all the way up to $80k by the end of Q2, and the beginning of summer. As for the end of the year, I believe that BTC could close 2021 with the price of $90,000 unless some major event disrupts its trajectory.

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Valkyrie Digital Assets filed for a Bitcoin ETF with the US SEC

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bitcoin ETF

Texas-based Valkyrie Digital Assets has filed for a bitcoin exchange-traded fund (ETF) with the US Securities Exchange Commission (SEC).  The firm filed this application on January 22, noting that the proposed ETF is named Valkyrie Bitcoin Fund. Per Valkyrie Investment, the parent company of Valkyrie Digital Assets, its subsidiary seeks to list its ETF on the New York Stock Exchange (NYSE) if the SEC approves it.

According to the filing, Coinbase Custody Trust Company will act as the custodian for the proposed ETF. While this is Valkyrie’s first BTC ETF filing, the firm has reportedly launched numerous ETFs based on other assets. Per Leah Wald, Valkyrie Investments’ CEO, the company has also issued publicly-traded funds and ETPs.

Wald further disclosed that the team behind the Valkyrie Bitcoin Fund comprises Steven McClurg and John Key. Together, these appointees have worked on more than 100 esoteric and novel deals, which have passed regulatory scrutiny.

SEC’s fight against BTC ETFs

The crypto space widely believes that a Bitcoin ETF would significantly help boost BTC’s adoption. This is because, through an ETF, bitcoin would trade on the stock just like ordinary shares. However, the SEC has for years rejected BTC ETF applications citing market volatility and price manipulation. For instance, the agency rejected nine BTC ETF applications on the same day back in August 2018.

At the time, the commission noted that it had rejected the applications from ProShares, Direxion, and GraniteShares because the organizations had not met their burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that their proposals are consistent with the requirements of the Exchange Act Section 6(b)(5). The SEC added that the applicants had particularly failed to observe the requirement that mandates for the rules of national securities exchanges to be designed in a way to prevent fraudulent and manipulative acts and practices.

Although the SEC is not keen on approving BTC ETFs, the crypto space seems resilient in its quest to make cryptocurrencies mainstream. Before Valkyrie’s application, VanEck resubmitted its BTC ETF application on December 30, 2020. According to the firm’s CEO, Jan van Eck, the organization decided to resubmit its ETF application based on a few rays of hope. Per Eck, the first reason was the guide document that the SEC published on crypto custody. The second was Canada’s regulatory developments that saw the country’s regulators approve a crypto fund targeting retail investors.

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Top-tier Chinese cities announce support for digital Yuan trials

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DCEP trials

Multiple Chinese are planning to underpin pilots of the country’s sovereign central bank digital currency dubbed Digital Currency Electronic Payment (DCEP). These plans are part of the cities’ government work plans for the year. Among the cities that have announced plans to support DCEP trials include Beijing, China’s capital, and Shanghai.

According to Beijing’s mayor, Chen Jining, the city intends to help hasten the development of innovative demonstration zones for FinTech and professional services this year. Jining added that Beijing would also promote the pilot application of the digital Yuan. He made these remarks while delivering a local government report during the opening ceremony of the fourth session of the 15th Beijing Municipal People’s Congress.

Apart from Beijing, Shanghai also intends to back DCEP’s pilot programs this year. The city’s mayor, Gong Zheng, said that Shanghai would continue with its plans to open up financially and to promote the digital yuan. Zheng said this while delivering a government work report on January 24.

On the same day, Ma Xingrui, the governor of South China’s Guangdong Province, also promised that authorities would work ardently to help Shenzhen grow into an innovation pilot zone for DCEP. Xingrui’s statement came after Shenzhen started its third round of DCEP trials on January 20, distributing 20 million digital yuan (approximately £2.26 million) to the residents of Longhua district.

DCEP’s launch is quickly taking form

Per industry veterans, top-tier Chinese cities announcing support for digital yuan pilots indicates that the country is ready to expand the scope of DCEP trials. As a result, China will have built a strong foundation for the coin’s launch as other countries continue struggling to achieve this feat.

According to a Shenzhen-based crypto expert, the pilot programs are only the tip of a massive iceberg.  The expert believes that once DCEP goes live, it will transform China’s financial industry and create a robust digital finance service sector worth billions of yuan.

This news comes after China first rolled out DCEP trials in 2020, where they quickly expanded from small-scale closed testing to large-scale open testing in a matter of months. The trials took place in several leading Chinese cities, including Suzhou, Chengdu, Xiongan New Area, and the aforementioned Shenzhen and Shanghai cities.

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UniSwap DeFi Token UNI Hits New ATH Above $13 With Surge In Whale Addresses

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The crypto DeFi market is booming with the third-largest DeFi token UniSwap (UNI) making a strong surge. A few hours back, UniSwap’s UNI token hit a new all-time high moving past $13 levels.

The UNI Defi token has delivered phenomenal performance over the last few weeks. Over the last week, UNI price has surged nearly 50% while it has surged more than 200% over the last month. The recent UniSwap token performance comes along with consistent network growth.

On-chain data provider Santiment states that the rise in whale addresses is a clear reason behind the UNI price surge.

On the other hand, UniSwap (UNI) also continues to register record volume growth. For January 2021, the project monthly volumes are at a record all-time high of $25 billion. So far, the UniSwap protocol has generated over $75 billion in volumes. As reported by Our Network:

“Uniswap is the fourth largest cryptocurrency spot trading venue in the world and consistently commands 50% decentralized trading protocol market share. While long-tail assets play a significant role in the protocol’s success, ETH and WBTC markets together regularly account for 40%+ of total weekly volume”.

Courtesy: UniSwap Protocol Twitter

Strong Surge In Active Addresses

Last month in December 2020, UniSwap also registered a record surge in monthly unique active addresses. The UniSwap protocol surpassed 300,000 monthly unique active addresses while the media trade sie has jumped to ~$1,200.

As of date, the UniSwap accounts contribute was 20% of all the Ethereum transactions. The UniSwap governance project is warming up fast. The UniSwap Grants Program is now live with over 5K addresses registered as delegates.

UniSwap’s UNI is the third-largest DeFi tokens in terms of market cap and fourth-largest in terms of total value locked (TVL).

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Gemini Singapore Extends New Token Offerings Including DeFi After Bank of Singapore Backs Crypto Assets

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Singapore-based customers of the Gemini crypto exchange have good news as the company is offering its tokens offerings including a wide range of altcoins and some popular DeFi tokens. As per the latest announcement, 20 new tokens will be available for trading on Gemini Singapore including Uniswap (UNI), Sythetix (SNX), Yearn.Finance (YFI), Filecoin (FIL) and others.

In the press release, Gemini said that this new product offering aims to bring a more localized experience for its customers in Singapore. The exchange also brings new features to its trading platforms like quick ways to fund investor accounts and additional local support. Besides, the exchange support Singapore Dollar (SGD) on both – desktop and mobile applications.

Customers can either deposit SGD to their accounts using FAST TRANSFER to directly buy them using the SGD debit card. Speaking about expanding their service, Gemini CEO Tyler Winklevoss said:

Singapore is a financial epicenter in the heart of Asia and is a fast-growing market for cryptocurrency. Singapore is one of our biggest markets and supporting SGD is another exciting milestone on our mission to empower the individual through crypto.”

Interestingly, Gemini’s announcement comes hours after the Bank of Singapore showered praises for cryptocurrencies saying that they have the potential to replace Gold in long term.

Bank of Singapore: Cryptocurrencies Can Replace Gold

In a recent research note published, the Bank of Singapore noted that cryptocurrencies can replace yellow metal Gold once the market overcomes key hurdles of “trust, volatility, regulatory acceptance and reputational risks”.

Mansoor Mohi-uddin, the chief economist at the Bank of Singapore, said that once we address some of these disadvantages, digital currencies will stay in investors’ portfolios as potential safe-havens. He added:

“First, investors need trustworthy institutions to be able to hold digital currencies securely. Second, liquidity needs to improve significantly to reduce volatility to manageable levels”.

The bank also added that increased institutional participation for a longer time-frame will introduce legitimacy to the marketplace. This is because crypto participation will be more fundamentally-driven rather than speculations. The Bank of Singapore economist also added that cryptocurrencies bring massive convenience in moving money across the globe.

However, he back the existence of strong regulations saying “Government agencies need to curtail criminal activity to reduce the reputational risks for holding digital money”.

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Ethereum price potential to $3,000 becomes apparent amid increasing utility in DeFi

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ETC-WETC-DAI-DeFi

  • Ethereum holds firmly onto support at the 50 SMA on the 4-hour chart.
  • ETH begins the uptrend afresh, targeting levels above $1,500.
  • A possible double-top pattern could jeopardize the rally to $3,000 and perhaps lead to more losses.

Ethereum has been adamant to follow in Bitcoin’s footsteps over the last couple of weeks. The flagship altcoin executed its own rally even after BTC ran out of steam. The rise to a new all-time high was particularly encouraging to the investors, whose confidence in recovery to levels around $3,000 has increased greatly.

Ethereum seeks higher support before resuming the rally

The recent spike from the support slightly above $1,100 elevated Ethereum to highs around $1,481 (on Coinbase). It was clear that buyers eyed an upswing past $1,500 but Ether lost momentum, leading to a reversal.

The 50 Simple Moving Average on the 4-hour chart has provided support for Ethereum at $1,300. ETH is trading at $1,365 as bulls push for a return to price levels beyond $1,400. The Moving Average Convergence Divergence or MACD suggests that Ethereum is gradually falling back into the hands of the bulls, evidenced by the move into the positive territory.

ETH/USD 4-hour chart

ETH/USD price chart
ETH/USD price chart by Tradingview

Trading above $1,400 will add credibility to the expected move past $1,500. Moreover, a move of this magnitude could trigger the fear of missing out (FOMO) as investors rush to take advantage of another rally targeting $3,000. According to the Chief Technology Officer at Bitfinex, Paolo Ardoino:

“The Ethereum price has pierced another all-time high. The potential of ether is becoming more and more apparent as it demonstrates a formidable capacity to support many projects. Ethereum is a key platform for building blockchain projects and is an integral part of launching decentralized applications. With DeFi protocols exceeding $19B in TVL and showing no signs of decelerating, we may see the price of ether grow alongside its use.”

Looking at the other side of the fence

It is worth noting that Ethereum may slow down the uptrend if the double-top pattern on the 4-hour chart confirms. This will likely increase the selling pressure in the market, hence delaying the breakout. Moreover, losses may come into play that may retest support at the 50 SMA, 100 SMA, and 200 SMA.

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What to Make of GameStop Corp (GME)’s Parabolic Move

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GameStop GME Apples Legacy Top 10 most downloaded games of the decade

Berna Barshay’s email to investors discussing what to make of GameStop Corp (NYSE:GME)’s parabolic move.

Q4 2020 hedge fund letters, conferences and more

GameStop Corp (GME) Stock Up 145%

At its intraday high this morning, shares of video-game retailer GameStop (GME) were up 145%…

When trading started to level out earlier this afternoon at around $80, the stock had retraced much of its big move to $159 and was back to up “just” 23%, but today’s gain comes on top of a 51% jump on Friday… which follows a 100% gain in the prior week. In fact, the once-left-for-dead retailer is up roughly 325% this year.

Was the stock bought out at a huge premium? Did the company report fourth-quarter earnings that blew away all expectations?

The answer to these questions is no… yet GameStop Corp (GME) – which spent much of last year with a sub-$300 million market cap – suddenly sports a roughly $5.6 billion market cap and is up around 31 times from last April’s all-time low of $2.57. Take a look…

https://assets.empirefinancialresearch.com/uploads/2021/01/012521-EFD-gme.png

The move wasn’t driven by anything fundamental, but rather the largest short squeeze we’ve seen in a long time.

Because investors believed GameStop to have greatly diminished prospects, they sold GME shares short en masse – making a bet on a continued decline. When investors short a stock, they borrow shares from an owner, sell them, and hope to buy them back later at a lower price to return to the lender.

GameStop (GME) used to be a great business. It was the largest retail player by far in a category that enjoyed decades of secular growth: video games. The company’s healthy and high-margin used-games business complemented its sales of new games, consoles, and accessories.

But as digital migration took hold in the industry – with digitally-delivered games replacing packaged media – many investors thought that GameStop was just a few years behind DVD rental shop Blockbuster and music retailers like Tower Records on a path to bankruptcy and life as an historical footnote.

The bears were largely right in their predictions. In calendar year 2017, GameStop earned more than $800 million in operating profits. By calendar 2019, these were down more than 90% to $62 million. As a result, GameStop was trying to shrink its way into maintaining profitability. The company has closed more than 2,000 stores since early 2017, although 5,000 still remain.

Short Interest In The Stock

Betting against GME shares became so popular that more shares were shorted than actually exist…

The stock’s short interest by year-end 2020 had reached 71 million shares – essentially all of the shares outstanding and over 140% of the approximately 50 million shares free floating. Free float calculations exclude shares held by insiders and investors holding over 5% of shares outstanding, as these holders may opt to forego the income they could earn by lending their stock in the interest of reducing the amount available to be shorted.

A short squeeze happens when everyone runs for the exits at the same time – similar to a run on the bank.

A rapid and unexpected increase in the price of a highly shorted security is usually the catalyst for a squeeze. As traders rush to close their shorts in great numbers after the initial move up, it creates even more upward pressure on the stock due to the rush of buyers. The further sharp rise in price sends more shorts scrambling to cover… and the squeeze gains force.

Often the initial price increase that triggers the squeeze is prompted by some kind of fundamental event… better than expected financial results… rumors that a company will be acquired… a change in management, or a new product or joint venture that is favorably received.

But in the case of GameStop (GME), something more nefarious was at play…

Some smart people were telling me last summer that GME shares were too cheap, but there is no way to fundamentally justify what has happened here…

GameStop traditionally rose and fell according to the gaming console cycle. When Sony (SNE) was releasing a new PlayStation, or Microsoft (MSFT) was introducing a new generation of the Xbox, traffic to GameStop stores would soar. Selling consoles was lower margin than selling other goods, but it was high ticket. More importantly, new consoles would drive interest in the video game category… driving consumers to buy more high-margin games. In this way, GameStop was a classic razor-blade business.

Prior video-game cycles peaked in 2007 and 2013… but GME shares are now trading around 25% higher than at prior cyclical peaks, and those occurred when digital cannibalization of packaged video games was some far-off threat as opposed to a day-to-day reality.

Take a look at GameStop (GME) in the context of historical trading levels… It’s crazy!

The idea of an epic GameStop short squeeze had been brewing with retail traders in the WallStreetBets forum on discussion website Reddit for months.

After a series of fundamentally rooted, deep value posts about GME went largely ignored in the online forum, a post about the potential for a short squeeze by a user with the handle Senior_Hedgehog sent shares soaring 53% in two days last April… but they were still trading for less than $6 then.

Shares would rise 42% in two days in late August and early September, when Chewy (CHWY) co-founder Ryan Cohen announced a 5.8 million share position in GameStop. The stock was still trading for less than $8 per share at the time.

Throughout the fall, WallStreetBets periodically lit up with chatter about GameStop short interest and various trades that could take advantage of the coming short squeeze.

GME shares rose 182% over the last four months of the year. In fairness, a good bit of that move might have been justified, as GameStop (GME) had made it to the next console cycle with the release of the PlayStation 5 finally happening. But what happened since then has little connection to fundamental reality.

The GameStop (GME) frenzy is no accident…

WallStreetBets posts cautioned holders to never sell and to call brokers to revoke securities lending rights, which could cause shortages that would spur some shorts to involuntarily cover their negative bets. Users exchanged ideas about the best way to get the short squeeze going.

Popular among the suggestions for ways to send the stock soaring and get rich quick was to purchase short-term, out-of-the-money call options. Buying these options – which give the right to purchase shares above the current quote – causes market makers to buy GME shares as a hedge to the calls they sold… adding further upward pressure to the shares. The more the stock goes up, the more call sellers need to buy – thus adding more pressure. And the original, short-term out-of-the money call options have low absolute prices… They usually cost only a few hundred dollars, sometimes even less than $100 for a contract.

Banding together, the amateur traders beat the professional shorts on Wall Street. And not only did they make tons of money, they enjoyed a healthy dose of schadenfreude in watching the pain inflicted on professional investors. GME shares had been such a great short for so long, complacency had set in, and the pros were sucker-punched by the retail-driven short squeeze.

When it became clear that Gabe Plotkin’s Melvin Capital – one of the most successful consumer-focused hedge funds in the world – had fallen victim to the GameStop (GME) squeeze, WallStreetBets users showed glee in sticking it to the 1%. The sentiment had a Robin Hood aesthetic… The retail traders were not only thrilled to be making big money, but it was exceptionally sweet because they were stealing from the rich to give to the poor (themselves), and of course most of the profitable trades were happening on the aptly named Robinhood app.

Trading gains are apparently sweeter when they have the side effect of inflicting pain on billionaires…

Source: Bloomberg, Reddit

The WallStreetBets crowd also had a field day toying with Andrew Left of Citron Research, who they had formerly wrangled with over shorts in machine learning company Palantir (PLTR) and Chinese electric-vehicle maker Nio (NIO), which I highlighted last week as a “FinTwit” favorite.

One member of the Reddit group has even self-reportedly turned a $54,000 investment in GME calls into more than $11 million. And Wall Street has been generally hypnotized for the last two days by the circus act that GME trading has become…

The Top Ten Most Shorted Stock List

The GameStop short squeeze has been so successful that it’s having an effect on other highly shorted names…

While some of these of names have surely had recent news that I can’t delve into here in the interest of length, consider some of these recent moves in other stocks that grace the Top Ten Most Shorted stock list (GME shares sit at the top)…

Small-cap medical products company Accelerate Diagnostics (AXDX), No. 10 on the list, is up roughly 45% today. Solar company SunPower (SPWR) – No. 8 on the list – is up roughly 60% in two weeks. National Beverage (FIZZ), which makes LaCroix sparkling water, is No. 6… and is up nearly 40% in two weeks with no news whatsoever.

The stocks that round out the top five most shorted – space-tourism company Virgin Galactic (SPCE), movie theater chain AMC Entertainment (AMC), home goods retailer Bed Bath & Beyond (BBBY), and pharma company Ligand Pharmaceuticals (LGND) – are up an average of 74% so far in 2021, which is only 15 trading sessions old!

The power of the online mob is apparently in full force, prompting this headline that made me chuckle this morning from Canadian business newspaper Financial Post: “Apparently all you need for a stock to soar these days is an emoji on Reddit.” The emoji in question? The rocket.

Financial Post cautioned, “If a post on a Reddit Wall Street message board contains icons of rocket ships pointing upward, you best pay attention.” I agree… if you actively short, I caution you to check that you aren’t in a crowded trade or one where the shares available to be borrowed are constrained. Be careful.

And if you own a stock that’s up an inexplicable amount and it seems too good to be true, check the short interest. If it’s really high, you may have your answer. Short squeezes don’t last forever… so you may want to take some profits now.

Also, I want to remind readers that pooling or collusion in the markets is illegal. If you have profited from an orchestrated squeeze, enjoy your winnings. But be careful about what you post about or engage in online.

My old friend Herb Greenberg, a former journalist who long covered short-sellers and their targets, this morning tweeted a post from WallStreetBets that clearly skates the line of legality. (I won’t post an excerpt due to the offensive language, but click here to see it.)

Revisiting The FinTok Mailbag

Given today’s related topic, revisiting the FinTok mailbag seemed appropriate…

Have you benefitted from being on the long end of a short squeeze? If so, how do you decide when to sell your stock? If you’ve been stuck on the wrong end of one of these, how do you decide when to cover? Do you think this kind of collusion and ganging up activity on social media needs to be better regulated? Share your thoughts in an e-mail to [email protected].

“I was recently ‘the beneficiary’ of this crazy speculative behavior. Earlier in the week, I noticed CRNT – Ceragon Networks – a 5G stock, was going up 90%, and then closed up 64%. I happened to have Yahoo Finance open and I thought it was an error. I am not a trader, just an investor (subscriber to Empire) but happened to have that page open. I refreshed the browser thinking it was an error and realized it was not. I searched for news on the company to explain this price surge and came up short. I was so perplexed I went to my brokerage account and sold half my position thinking this was going to come crashing down. I had purchased shares in the late summer and was already up nicely on the position. I then later found out through a post from Motley Fool that CRNT was being touted on social media as the next great 5G stock and being a ~$3.20 stock a perfect target. Anyway, the share price went up another ~24% the next day and I sold all my shares.

“So, while I am happy that I was able to get such a great return on this stock, it was also very unsettling… like we are living in some super dystopian world. I do not follow any of these groups on social media.

“I think this needs to be curbed by the SEC. Not sure how but it needs to be addressed – many people will lose all their money, destroy their lives and maybe even their families’ lives if they are trading with leverage. We live in truly interesting times.

“Thank you for all of your thoughtful emails and great research.” – Kelly C.

Berna comment: Kelly, it looks like you were wise in getting out… at least so far. I agree that this kind of market won’t end well for many folks, and the ones holding the bag in the end may be those least able to withstand losses.

It’s such an overused saying… but your wisdom in getting out of Ceragon Networks (CRNT) on the spike reminded me of the old phrase “Bulls make money, bears make money, pigs get slaughtered.” It’s always smart to take gains when they don’t make sense, even in a hot tape.

“Berna; I enjoyed your article on Fintok and I have been investing for several decades now. When I got an MBA in 95, the most interesting class was taught by an ex-investment banker who spent a semester showing us how he analyzed companies. My main takeaway was how labor intensive that was, so I have gladly paid for good advice from various investment publications like Motley Fool, Stansberry, Matt McCall, and Empire (lifetime member). I originally did very well on my own but far better in the last few years with professional advice.

“Back in ’95 we had a class discussion on how the internet would make the world better with the free flow of information, but I commented that it would also become a platform for propaganda and false information. I think the last few years have proven how dangerous that can be on so many levels. The sad story of the young man who killed himself after running up huge losses on Robinhood brought that home to me. So now, the only social media I partake in is LinkedIn for the above reason.

“So, to answer your question: yes, I think all this financial propaganda should be subject to some ethical standards as enough of it can have a level of market manipulation. I also think the media should be held to some objectivity and accuracy standards, although some will claim that this tramples our first amendment rights. Democracy is always complex!

“Keep up the great thought-provoking and informative articles.” – L Richard.

Regards,

Berna Barshay

January 25, 2021

 

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Ethereum Price Uptrend Jumpstarted Swinging Past $1,400 While $2,000 Beckons

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  • Ethereum swings to new record highs, leading recovery among the top cryptocurrencies.
  • Ether must close the day above $1,500 to validate the uptrend to $2,000 while on the downside support at $1,200 is crucial.

Ethereum is among the best-performing cryptocurrencies in the market after a gruesome end of the week. The weekend session was characterized by consolidation across the board but Ether bulls focused on regaining complete control over the price.

Data by CoinMarketCap shows Ethereum trading 16% higher at $1,430. Recovery from last week’s low of $1,145 has been consistent. Various hurdles have been broken to pave the way for the accrued gains including the 100 Simple Moving Average, the 50 SMA on the 4-hour chart, and $1,300.

The biggest milestone has been trading above $1,400 and achieving a new record high of $1,481. A glance at the short-term chart highlights the growing bullish influence as bulls fight for action beyond $1,500

The Relative Strength Index is not quite overbought yet, hence the availability of room for growth. The upswing to $2,000 will be validated if Ethereum closes the day above $1,500. Besides, establishing higher support will call for more buy orders which in turn will increase the tailwind behind Ethereum.

ETH/USD 4-hour chart

ETH/USD price chart
ETH/USD price chart by Tradingview

For now, the least resistance path is upwards, however, sustaining the uptrend above $1,400 will play a key role in the remaining journey to $2,000. Note that failure to hold at this higher support may increase overhead pressure on ETH/USD.

On the downside, support is anticipated at $1,300, $1,200 and $1,100. The 50 SMA and the 100 SMA will also absorb the selling pressure. Immense support is accorded to the pioneer altcoin, further validating the uptrend.

Ethereum intraday levels

Spot rate: $1,430

Relative change: 34

Percentage change: 2.4%

Trend: Bullish

Volatility High

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JPMorgan: Bitcoin Traders Likely to Unwind Futures Positions

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Bitcoin trades are more likely to unwind their futures position citing a slowdown in Bitcoin institutional participation, says JPMorgan!

Just as Bitcoin (BTC) continues to face downward pressure over the last week, the institutional interest also seems to wane down at the moment. JPMorgan analysts think that Bitcoin price return to $40,000 seems to be doubtful as to the institutional inflows to the biggest Bitcoin fund – Grayscale Bitcoin Trust (GBTC) – seem to be slowing down.

JPMorgan strategists led by Nikolaos Panigirtzoglou noted that the GBTC four-week rolling average “appears to have peaked”. As per the last Grayscale update, the net assets under management (AUM) of its Bitcoin Trust has dropped to $20.4 billion.

JPMorgan states that fund slid is faster at 22% whereas the BTC price has dropped 17% during the same period.

Courtesy: Bloomberg

The analysts also added that as institutional inflows slow down, Bitcoin traders are likely to unwind their positions. The strategists wrote:

“At the moment, the institutional flow impulse behind the Grayscale Bitcoin Trust is not strong enough for Bitcoin to break out above $40,000″. They added: the “risk is that momentum traders will continue to unwind Bitcoin futures positions. The near-term balance of risks is still skewed to the downside”.

Recently, Grayscale has, however, resumed back to Bitcoin buying. As per data on Bybt, the Grayscale Bitcoin Trust (GBTC) has purchased more than 40K Bitcoin since January 14, 2021, pouring more than $1.5 billion.

Institutions Are Scooping Whale Bitcoins

In another analysis, long term Bitcoin holders called “whales” and miners have been losing their supplies to institutions over the last year. Adam James with OKEx Insights told Bloomberg:

“Old-school Bitcoiners sold some of their old bags to new institutional buyers with extremely large new bags to fill”.

Below is the chart that clearly shows how Bitcoin (BTC) holding among Asian whales and miners is dropping since March 2020 and how U.S.-based institutions have accumulated during the same period.

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Hashrate Tokens: What is Bitcoin Hashrate Standard Token Aka BTCST Token?

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BTCSTRecently, the Bitcoin Standard Hashrate Token aka BTCST token, launched on Binance Smart Chain (BSC) on December 13, 2020 created a lot of buzz among crypto miners. Over the past week, “hashrate tokens”, which collateralize proof of work (PoW) hashpower have come to life as two of the largest mining pools –Binance and Poolin – lead the way. In this article, we focus on Binance Pool’s hashpower token,  

The magnanimous surge in Bitcoin’s price to $41,000 gave rise to a mining craze as the blockchain’s hashrate hit all-time highs on January 18, 2021.  The mining demand has seen new innovations sprout in the crypto space as miners try to increase their profits and keep up with the raging bull market. 

What is BTCST Token?

The Bitcoin Standard Hashrate Token, abbreviated BTCST, is a collateralized token by Bitcoin’s hashrate, each token representing 0.1TH/s of actual Bitcoin mining power to an efficiency of 60 W/TH. Miners contribute mining power on the platform in exchange for newly minted BTCST tokens. 

The BTCST token aims at bringing liquidity to Bitcoin’s mining market, which allows anyone to have exposure to mining rewards and hashpower of any size at a low cost. The app brings liquidity and efficiency to mining power markets in a similar manner that Grayscale’s GBTC share brings liquidity to institutional investors wanting to invest in Bitcoin. 

Btcst Token
Chart showing the total Bitcoin hashrate (Image: Blockchain.com)

Additionally, “those without mining power tokenized by BTCST to hedge against the risks of mining machine cost price fluctuations,” a post from Binance reads. 

BTCST token holders can also choose to stake their coins in order to receive daily distributions of Bitcoin mining rewards in proportion to the amount staked. 

Understanding BTCST Token Allocation & Price

Launch & Token Allocation 

BTCST Token launched in December 2020 with an initial token supply of 1,000,000 BTCST tokens. According to a Binance blog post, 4% of the initial circulating supply will be allocated to the Binance Launchpool and the rest will be allocated to the initial tokenizing miner. 

NB: BTCST token can only be issued when eligible miners choose to standardize and tokenize Bitcoin hashrate. Therefore, the project has not and will not host public or private sale events.

The total supply cap of BTCST is determined by the total BTCST tokens staked on the app. As assets under management increase, the 1,000,000 initial supply will increase accordingly but any newly minted token will be subject to a 25-week weekly linear vesting schedule.

BTCST Token Price History

The BTCST token was first traded on the secondary market on Binance exchange – trading against USDT – at a launch price of $74.86. The coin has since dropped to $65.03 as of writing, representing a 13% decrease from launch price. The highest BTCST price recorded is $103.33, as reported by Coingecko. 

As of January 20th, a total of 64,011 BTCST tokens are staked on the platform, a hashrate equivalent of 6,401 TH/s. 

The Crypto Mining battle between Binance and Poolin 

Binance is however not the only mining pool launching its own hashrate token. Poolin, the second largest Bitcoin mining pool, also announced the launch of its own hashcoin, pBTC35A, an ERC20 token anchoring 1TH/s of Poolin hashing power at 35 joules per TH. 

A total of 50,000 pBTC35A tokens were released by Pooling, representing 50,000 TH/s of computing power from the newest ASIC miners in Poolin’s facilities. 

The two coins aim to battle it out in this new trend – adding to the liquidity and efficiency they bring to Bitcoin’s mining business. So far, Poolin’s hashcoin seems to have an edge over Binance’s BTCST Token in that it supports decentralized finance (DeFi) through its recently launched Mars protocol. 

BTCST Price Prediction – How far can BTCST token price rise?

As is common in the cryptocurrency market, the launch price of a token is often different to the efficient market price of the token. Such is the case with BTCST price, which is heavily overvalued at current prices of $65, according to some Bitcoin analysts. 

Expert’s View on BTCST Price

In a tweet sent out on January 13, shortly after BTCST listing on Binance, Wu Blockchain, a Chinese Bitcoin mining analyst, claims BTCST token is highly priced at $73 (price at the time). Currently trading at $65 and each BTCST token anchoring 0.1TH/s, an equivalent price of $650/TH/s is derived of 60W/TH. 

The most expensive Bitcoin mining device, the Antminer S19 PRO from Bitmain currently charges $80/TH/s, showing a huge disparity from BTCST mining. This could lead to the price of BTCST falling to “normal” levels across the year, as miners and users find the optimal price for the token, Wu said. 

“It is expected that BTCST will return to a relatively normal price in the future. The current price is seriously inflated.”

One user however argues that the mining rig cost only affects a small part of the general cost of mining hence the inflated BTCST price. According to the user, BTCST tokens act more like bonds giving holders an opportunity to earn future cash flows from it. 

A cross divide between miners and owners of BTCST

The price is definitely a crucial point to focus on when analyzing these hashrate tokens, more so as it affects the overall distribution of the tokens. 

A spike in BTCST price during bull markets could see miners refuse to sell their tokens, reducing the supply further while in times of a bearish market there would be a barrier for holders to sell. 

Also Read: Bull Run Boosts Hashrate Token Craze, Binance Hashcoin [BTCST] And Poolin Tokens Selling at Inflated Rates

Bringing staking to proof of work

As alluded to, BTCST token brings together the qualities of staking and the proof-of-work consensus mechanism through its platform. Below we discuss how you can earn, buy and stake BTCST token. 

How to buy BTCST?

The BTCST token is currently available on Binance exchange only. The exchange launched three trading pairs namely BTCST/BTC, BTCST/BUSD and BTCST/USDT on January 13. 

How to stake BTCST?

During the Launchpool period, users who staked their Binance Coin (BNB), Bitcoin (BTC) or Binance USD (BUSD) tokens in the pool earned BTCST tokens. Here is the guide on how to start staking.

What does the future hold for BTCST price?

At the moment, BTCST price is still greatly overvalued and we may be headed to an “inventory flash” according to Leo Zhang, Founder of Anicca Research. Mining cycles usually come in four archetypical stages, majorly affected by the price change rate of BTC and hashrate change rate. 

With the price of the most expensive miner costing $80/T, Colin Wu expects the price of hashpower tokens, specifically BTCST to drop to “normal” ranges in future. 

“It is expected that BTCST will return to a relatively normal price in the future,” Wu said. “The current price is seriously inflated.”

Conclusion

Seeing the growth in mining and price of cryptocurrencies, the two hashpower tokens are set to be followed by a multitude of other projects in future. However, there is a likelihood that the prices will be inflated as the market rushes to get a piece of the hashing power tokens.

FAQs 

  1. What is Bitcoin Standard Hashrate Token (BTCST)?

BTCST token is built on Binance Smart Chain collateralized by 0.1 TH/s of real-world Bitcoin mining power.

  1. How many BTCST are in circulation?

An initial token supply of 1,000,000 BTCST tokens were launched. The total circulating supply will include mining rewards a top the initial token supply. 

  1. Is the BTCST smart contract audited?

Yes. BTCST has passed the scrutiny of CertiK, one of the world’s leading blockchain security firms, scoring a 98 out of 100 in a security audit.

The post Hashrate Tokens: What is Bitcoin Hashrate Standard Token Aka BTCST Token? appeared first on Coingape.

The Climate Crisis Is Worse Than You Can Imagine. Here’s What Happens If You Try.

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Peter Kalmus, out of his mind, stumbled back toward the car. It was all happening. All the stuff he’d been trying to get others to see, and failing to get others to see — it was all here. The day before, when his family started their Labor Day backpacking trip along the oak-lined dry creek bed in Romero Canyon, in the mountains east of Santa Barbara, the temperature had been 105 degrees. Now it was 110 degrees, and under his backpack, his “large mammalian self,” as Peter called his body, was more than just overheating. He was melting down. Everything felt wrong. His brain felt wrong and the planet felt wrong, and everything that lived on the planet felt wrong, off-kilter, in the wrong place.

Nearing the trailhead, Peter’s mind death-spiralled: What’s next summer going to bring? How hot will it be in 10 years? Yes, the data showed that the temperature would only rise annually by a few tenths of a degree Celsius. But those tenths would add up and the extreme temperatures would rise even faster, and while Peter’s big mammal body could handle 100 degrees, sort of, 110 drove him crazy. That was just not a friendly climate for a human. 110 degrees was hostile, an alien planet.

Lizards fried, right there on the rocks. Elsewhere, songbirds fell out of the sky. There was more human conflict, just as the researchers promised. Not outright violence, not here, not yet. But Peter’s kids were pissed and his wife was pissed and the salience that he’d so desperately wanted others to feel — “salience” being the term of choice in the climate community for the gut-level understanding that climate change isn’t going to be a problem in the future, it is a crisis now — that salience was here. The full catastrophe was here (both in the planetary and the Zorba the Greek sense: “Wife. Children. House. Everything. The full catastrophe”). To cool down, Peter, a climate scientist who studied coral reefs, had stood in a stream for an hour, like a man might stand at a morgue waiting to identify a loved one’s body, irritated by his powerlessness, massively depressed. He found no thrill in the fact that he’d been right.

Sharon Kunde, Peter’s wife, found no thrill in the situation either, though her body felt fine. It was just hot … OK, very hot. Her husband was decompensating. The trip sucked.

“I was losing it,” Peter later recalled as we sat on their front porch on a far-too-warm November afternoon in Altadena, California, just below the San Gabriel Mountains.

“Yeah,” Sharon said.

“Losing my grip.”

“Yeah.”

“Poor Sharon is the closest person to me, and I share everything with her.”

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Sometimes everything is both too much and not enough. George Marshall opened his book, “Don’t Even Think About It: Why Our Brains Are Wired to Ignore Climate Change,” with the parable of Jan Karski, a young Polish resistance fighter who, in 1943, met in person with Supreme Court Justice Felix Frankfurter, who was both a Jew and widely regarded as one of the great minds of his generation. Karski briefed the justice on what he’d seen firsthand: the pillage of the Warsaw Ghetto, the Belzec death camp. Afterward, Frankfurter said, “I do not believe you.”

The Polish ambassador, who had arranged the meeting on the recommendation of President Franklin Roosevelt, interrupted to defend Karski’s account.

“I did not say that he is lying,” Frankfurter explained. “I said that I didn’t believe him. It’s a different thing. My mind, my heart— they are made in such a way that I cannot accept. No no no.”

Andrew White, special to ProPublica

Sharon, too, possessed a self-protective mind and heart. A high school English teacher and practiced stoic from her Midwestern German Lutheran childhood, she didn’t believe in saying things you were not yet prepared to act upon. “We find it difficult to understand each other on this topic,” Sharon, 46, said of her husband’s climate fixation.

Yet while Sharon was preternaturally contained, Peter was a yard sale, whole self out in the open. At 47, he worked at NASA’s Jet Propulsion Lab, studying which reefs might survive the longest as the oceans warm. He had more twinkle in his eye that one might expect for a man possessed by planetary demise. But he often held his head in his hands like a 50-pound kettlebell. Every time he heard a plane fly overhead, he muttered, “Fossil fuel noise.”

For years, in articles in Yes! magazine, in op-eds in the Los Angeles Times, in his book Being the Change: Live Well and Spark a Climate Revolution, on social media, Peter had been pleading, begging for people to pay attention to the global emergency. “Is this my personal hell?” he tweeted this past fall. “That I have to spend my entire life desperately trying to convince everyone NOT TO DESTROY THE FUCKING EARTH?”

His pain was transfixing, a case study in a fundamental climate riddle: How do you confront the truth of climate change when the very act of letting it in risked toppling your sanity? There is too much grief, too much suffering to bear. So we intellectualize. We rationalize. And too often, without even allowing ourselves to know we’re doing it, we turn away. At virtually every level — personal, political, policy, corporate — we repeat this pattern. We fail, or don’t even try, to rise to the challenge. Yes, there are the behemoth forces of power and money reinforcing the status quo. But even those of us who firmly believe we care very often fail to translate that caring into much action. We make polite, perhaps even impassioned conversation. We say smart climate things in the boardroom or classroom or kitchen or on the campaign trail. And then … there’s a gap, a great nothingness and inertia. What happens if a human — or to be precise, a climate scientist, both privileged and cursed to understand the depth of the problem — lets the full catastrophe in?

Once Peter, Sharon and their 12- and 14-year-old sons set their packs down at the car on that infernal Labor Day weekend, they blasted the air conditioning, then stopped for Gatorade and Flamin’ Hot Doritos to try to recover from their trip. But the heat had descended not just on Peter’s big mammal body but on millions of acres of dry cheatgrass and oak chaparral.

That same afternoon, around 1 p.m., the Bobcat fire started five miles from their house in the Los Angeles hills.

Andrew White, special to ProPublica

Peter’s climate obsession started, as many obsessions do, with the cross-wiring of exuberance and fear. In late 2005, Sharon got pregnant with their first child, and in the throes of joy and panic that accompanied impending fatherhood, Peter attended the weekly physics colloquium at Columbia University, where he was working on an astrophysics Ph.D. The topic that day was the energy imbalance in the planet — how more energy was coming into earth’s atmosphere from the sun than our atmosphere was radiating back out into space. Peter was rapt. He’d grown up a nerdy Catholic Boy Scout in suburban Chicago, and had always been, as his sister Audrey Kalmus said, someone who “jumped into things he believed in with three feet.” He’d met Sharon at Harvard. They’d moved to New York so she could earn a teaching degree. For a while, before returning to school, Peter had made good money on Wall Street writing code. Now here he was hearing, really hearing for the first time, that the planet, his son’s future home, was going to roast. Full stop.

This was a catastrophe — a physical, physics catastrophe, and here he was, a physicist about to have a son. He exited the lecture hall in a daze. “I was kind of like, ‘Are we just going to pretend this is like a normal scientific talk?’” he told me, recalling his thoughts. “We’re talking about the end of life on Earth as we know it.”

For the next eight months, Peter walked around Manhattan, “freaking out in my brain,” he said, like “one of those end-is-near people with the sandwich boards.” He tried converting Columbia’s undergraduate green groups to his cause. Did they care about the environment? Yes. Did they care about the planetary catastrophe? Well, yes, of course they did, but they were going to stick with their project of getting plastic bags out of dining halls, OK? He tried lobbying the university administrators to switch to wind power. Couldn’t even get a meeting. Nothing made sense. Why was Al Gore spending a fortune to make a climate movie only to flinch at the end of “An Inconvenient Truth” and say, essentially, Just buy more efficient light bulbs? Almost nobody saw it — really saw it. WE ARE HAVING AN EMERGENCY. There was only one possible endgame here if humans didn’t stop burning fossil fuels, fast: global chaos, mass violence, miserable deaths.

Peter and Sharon’s friends came over to meet and bless their baby, Braird, shortly after he was born in June 2006. All the guests went around the room offering wishes for the unborn child. When Peter’s turn came, he said he hoped that his son didn’t get shot at in climate-induced barbarity and that he did not starve.

Andrew White, special to ProPublica

Peter and Sharon rented a house with a big avocado tree when they moved to California, in 2008, for Peter’s dream postdoc studying gravitational waves at CalTech. Braird was 2 and Sharon was nursing newborn Zane. Peter and Sharon had both come from families with four kids, and they didn’t want Braird to be an only child — and having a child when you want one is also immeasurably wonderful, too wonderful, in this case, to give up. (They did later decide to forgo a third.) In Peter’s first run at grassroots activism, he organized a climate protest with a friend. Only two people showed up. Peter joined Transition Pasadena, a community group dedicated to producing “a more resilient city and for living lighter on our Earth.” He also said he tried pushing “to focus the group around global heating and climate breakdown,” but the members, he said, wanted to talk about “gardening and city council meetings,” not the apocalypse, so Peter and Transition Pasadena parted ways.

Four years into climate awakening and action, Peter felt he had accomplished nearly zero. One night, frustrated with inaction and disgusted with fossil fuel use, he sat at his computer and calculated the sources of all his own emissions so he could go about reducing them.

In the morning he presented Sharon with a pie chart.

This was one of those moments that both distorted and crystalized the scale problems inherent in addressing climate change, the personal and the planetary, the insignificant and the enormous, warping and reverberating as if modulated by a wah-wah pedal. Peter himself believed that you can’t fix climate change with individual virtue any more than you can fix systemic racism that way. But he also knew, at some point, “You have to burn your ships on the beach,” as Richard Reiss, a climate educator and fellow at the Institute for Sustainable Cities at Hunter College, put it. You need to commit, perhaps even create drama, and make real changes in your life.

By far the biggest wedge of the pie chart was Peter flying to scientific meetings and conferences. For the family, if Peter quit flying, it meant he’d be home more to help with the kids. Sharon reserved the right to keep flying if she wanted. Win-win.

Peter’s second-largest source of emissions was food. So he started growing artichokes, eggplant, kale and squash, plus tending fruit trees, and that was great. Then he started composting — OK, that’s great, too. He also started keeping bees and raising chickens, and soon raccoons and possums discovered the chickens and Peter began running outside in his underwear in the middle of the night when he heard the chickens scream. Baby chicks lived in the house, which the boys loved. Braird got stung by bees while Sharon was at a meditation retreat and it turned out Braird was allergic and he went into shock.

Next came dumpster diving (which eventually — and thankfully — morphed into an arrangement with Trader Joe’s to pick up their unsellable food every other Sunday night). Peter’s haul — “seven or eight boxes,” according to Sharon; “three boxes,” according to Peter — included dozens of eggs with only one broken. Flats of (mostly not moldy) strawberries. Bread past its sell-by date. Peter did his best to put things away before he fell asleep because waking up to the mess drove Sharon nuts. But … it was a lot. Low-carbon living was a lot.

Andrew White, special to ProPublica

They stopped using the gas dryer. They stopped shitting in the flush toilet and started practicing “humanure,” composting their own crap. Sharon had lived with an outhouse in Mongolia, “so that was something I was used to,” she said. Plus, to be honest, she liked the local, organic anti-capitalist politics of it. “Marx writes about this in ‘Capital, Volume 1’ that one of the reasons Europeans started to use chemical fertilizers is because people started to move into the cities and off of the land, … and people stopped pooping out in the countryside, so it became less fertile.” The main problem, for Sharon, was that their bathroom was small and the composting toilet was inside. They used eucalyptus leaves to try to cover up the smell, but then little bits of leaves got all over the bathroom, too. After a while Peter moved the composting toilet outdoors. He also built an outdoor shower that Sharon found quite lovely, “rustic and California.”

Sharon commiserated with a friend who was married to a priest. How do you have an equal marriage with a man who’s trying to save the world? The priest’s wife, too, found “it impossible for her to have any space for herself,” Sharon said. “Because he was called by God to minister to people. When she tried to do her own thing, it wasn’t as important as his.” Motherhood was hard enough. Sharon wanted to write a novel. She wanted to write poetry. She wanted to go for a run, or even a walk, in peace. “His dreams were so much more heroic and important that I had to sort of, I don’t know,” she said. “I had to go along with it.”

The most trying component of the low-carbon experiment for Sharon was the 1985 Mercedes that Peter converted to biodiesel. Maeby, as Sharon hate-named the car — as in Maeby we’ll get there, Maeby we won’t — arrived in their lives in 2011, just as Sharon was starting an English Ph.D. at UC Irvine and commuting 50 miles each way. Yes, they took family summer road trips to go camping and visit friends. But on the winter trips to visit their families in the Midwest, the grease coagulated in the cold, which made Maeby break down more. Some nights Sharon cried in the motel room, but “when it’s daytime it all seemed better,” she said. She talked about renting a car or even flying home but never did. Still, late one night on a very cold, dark and lonely Utah highway when Peter was under the broken-down car, and Braird and Zane were in the back seat, screaming, and Sharon was revving the engine at Peter’s request — she started to wonder if she had Stockholm syndrome.

Andrew White, special to ProPublica

Sometimes, Sharon thought of Peter as being like “John the Baptist, a voice in the wilderness, crying out, ‘Repent, repent!’” This was said with love but also annoyance. As Larissa MacFarquhar explored in her book “Strangers Drowning,” extreme do-gooders often provoke us. We find them ridiculous, self-righteous, sometimes even perverse or narcissistic moralists for whom, MacFarquhar writes, “It is always wartime.” Just figuring out how to raise children on the Earth, right now, presented so many existential questions. Peter often indulged in a half-joking zombie apocalypse mentality. He wanted to teach his boys to grow crops, to defend themselves, to fix things. “I do think we need to be talking about the collapse of civilization and the deaths of billions of people,” he said.

When she was at her gloomiest, Sharon, too, felt scared to leave her sons on this planet, but she also called on her tight-lipped German upbringing to create a bubble of denialist peace. “Things you don’t want to confront, just ignore it. Pretend it’s not there,” she said. Her “ethics of care,” as she called it, involved encouraging the boys to take music lessons, read books and even meditate when she could persuade them to join her. She wanted to prepare her sons to be creative and resilient. If the planet was crumbling, they’d need rich interior lives.

Did Sharon want the boys to worry? “I don’t know, I don’t know,” she said. That was the never-ending, urgent, timeless question. How much do we want our children to understand about the horrors of the world?

In 2012, Peter switched fields, from astrophysics to earth science, because he just couldn’t stop obsessing. This meant backpedaling in his career, quitting the Laser Interferometer Gravitational-Wave Observatory (LIGO) experiment, three founding members of which would go on to win the 2017 Nobel Prize in physics. Still, even his new job was a strange fit. Science itself — with its cultural terror of appearing biased — was a strange fit.

Andrew White, special to ProPublica

Peter had given up expecting emotional comfort. He’d given up on decorum. He had nightmares about being on planes. “The emissions, you know,” he said. “It feels like the plane is flying on ground-up babies to me.” Even the simplest decisions led him into deep philosophical rifts. The boys’ music lessons, to Peter, seemed woefully, almost willfully anachronistic, a literal fiddling while Rome or Los Angeles burned.

Peter kept trying to figure out ways to make his voice heard. He organized climate cafes, modeled on death cafes, places for people to gather to share grief (Sharon did not attend). He started No Fly Climate Sci, a grassroots group of academic institutions and individual scientists committed to flying less. He kept writing, posting, organizing, talking. This was not always well received. Before the pandemic, Peter stood on the sidelines of Braird’s soccer games when it was 113 degrees. “And I’d be telling the other parents: This is climate change,” he said. “And, you know, they don’t want to hear that during a soccer game. But I can’t not do it. I can’t.”

WE ARE HAVING AN EMERGENCY — Peter thought that all day, every day. “Here I am with a retirement account,” Peter said. Did he need a retirement account? What was the world going to be like in 2060, when he was an old man? He’d been careful with himself not to become a doomer. Doomers, in his mind, were selfish. They’d given up on the greater good and retreated to their own bunkers, leaving the rest of us to burn. Still, despite Peter’s commitment to keep working toward global change, Sharon found Peter’s florid negativity distasteful at times. “There’s almost like a pornographic fascination with ‘Oh, I’m going to imagine just how bad everything is going to be,’” she said.

Sharon staged minor rebellions to maintain a sense of self little stuff, like using lots of hot water when she did the dishes, and bigger stuff, like she stopped talking sometimes. Braird and Zane, too, each absorbed and reacted to Peter’s passionate cri de coeur in their own ways. Zane, the younger one, started doing his own regular, Greta Thunberg-style climate strikes in front of city hall. Braird, the older, meanwhile, was entering his teens, differentiating and waxing nihilistic. When asked what he wanted to do with his future, Braird said, “What future?” When asked what he thought about climate change, he sunk a dagger into his father’s heart like only a child can. Braird said, “I don’t really think about it.”

Andrew White, special to ProPublica

On the Tuesday evening after Labor Day, two days after the family returned from their infernal backpacking, Peter, still recovering from heat exhaustion, stood at the sink doing dishes. Braird played League of Legends on his bed. Sharon sat meditating, as she did from 7-8 p.m. each night. Then the emergency alerts blew up their phones. An evacuation warning, the Bobcat fire. The day before, in the ongoing horrible heat, they’d taped their windows shut against the smoke but they hadn’t packed go bags. They never really believed their house would burn. The state was a climate warzone. Military helicopters had rescued 200 people trapped in a Sierra lake by the Creek fire, which had thrown up a plume of flames 50,000 feet. Cal Fire was predicting the Bobcat fire would not be contained for six weeks.

Sharon finished meditating. Then she started photographing all their stuff, including the insides of closets and drawers, because that’s what insurance adjusters tell you to do: Document your property so you can make a stronger claim. Peter snapped. He didn’t care about the pictures or the insurance. He just wanted to let the house incinerate. He felt done pretending that anything was normal, and he decided that now would be a good time to tell Sharon that he’d felt frustrated and gaslit by her all these years.

“WE NEVER EVEN TALK ABOUT CLIMATE CHANGE! DO YOU EVEN CARE ABOUT CLIMATE CHANGE?” he said. This did not go well.

She threw a laundry basket. “YOU HAVE GOT TO BE FUCKING KIDDING ME,” she shouted. “Our entire lives are about climate change.”

There it was, that gap we build around knowing and integrating, to protect our own lives and minds. Yet after the fight, after finally saying aloud what he’d been thinking for almost 15 years, Peter felt better. Not because anything was different. Nothing was different. The situation remained unshakably, cosmically wrong. The only reason to care about insurance, books, paintings, the house, was if you believed that there would be a stable planet on which to enjoy those things in 20 or 40 or 80 years. If you believe there’d be a “planet with seasons, where you can grow food and have water, and you can go outside without dying from heatstroke,” Peter said. “I don’t have that anymore, that sense of stability.

But he also knew, deep down, that Sharon could not, and should not, give that up. She was a more anxious person than he was. They both knew that. “For me to stay sane, there’s only so much I can take,” Sharon said. Earlier on the night of their big fight they’d watched “The Handmaid’s Tale,” as they did each Tuesday. Sharon often thought about the main character, June. “You have to moderate how you think. You have to think in little chunks, so you can endure, just like June does,” she told me. “You have to make sacrifices so you can survive. If you can survive to fight another day, then maybe the right opportunity will present itself. You can’t kill yourself well, you can. But that’s not the option I want to take.”

Andrew White, special to ProPublica

Maeby is now gone. Peter drives an electric car. The composting toilet remains outside, though Peter admits, “The other three family members are not interested in contributing at all.” Peter’s current project is making climate ads. Is this how he can tell the story of what is happening to the world in a way that will make people not just hear and retreat but act? He thinks about this all the time. How do you describe an intolerable problem in a way that listeners — even you, dear reader will truly let in?

All through October and November, the Bobcat fire continued to burn. It grew to 115,000 acres. Its 300-foot-high flames licked up against Mount Wilson Observatory, where scientists first proved the existence of a universe outside the Milky Way. The fire continued to burn well into December, when UN Secretary-General Ant nio Guterres urged, with middling effect, the nations of the world to declare a climate emergency. So far, 38 have done so. The United States is not one of them. In January, a team of 19 climate scientists published a paper, “Understanding the Challenges of Avoiding a Ghastly Future,” that said, “The scale of the threats to the biosphere and all its life forms — including humanity — is in fact so great that it is difficult to grasp for even well-informed experts.” The language of this sentence could not be more dire. It makes the mind go numb.

So how, with our limited human minds, do we attend enough to make real progress? How do we not flinch and look away? The truth of what is happening shakes the foundations of our sense of self. It asserts a distorting gravity, bending our priorities and warping our whole lives. The overt denialists are easy villains, the monsters who look like monsters. But the rest of us, much of the time, wear pretty green masks over our self-interest and denial, and then go about our days. Then each morning we wake to a new headline like: The planet is dying faster than we thought.”

While I was trying (and failing) to process it all, Peter called to make sure I understood the importance of a comment he’d made: He’s no longer embarrassed to tell people he would die to keep the planet from overheating. He s left behind the solace of denial. He s well aware of the cost. What a luxury to feel that the ground we walk on and this planet that is rotating around the sun is in some sense OK.”

XRP Price Analysis: XRP Price Nurtures A Potential 63% Breakout To $0.5

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Ripple XRP

  • XRP stuck in consolidation while waiting for a breakout to $0.5.
  • The immediate upside is limited by the 200 SMA and the stubborn hurdle at $0.3.
  • XRP’s expected uptrend may fail to occur if the price drops under the symmetrical triangle.

Ripple has for a long time been in consolidation following the massive breakdown in December. The extensive freefall came after the United States Securities and Exchange Commission filed a case against Ripple Labs Inc., for selling unregistered security tokens.

Ripple eyes a breakout to $0.5

At the time of writing, XRP is doddering at $0.279 in the wake of a minor recovery from last week’s slump to $0.25. Slightly above the current price levels the 200 Simple Moving Average on the 4-hour chart caps movement.

For now, the odds impulse is in favor of the bulls as reinforced by the Relative Strength Index. A break above the midline will encourage more buyers to join the market. If enough volume is created behind Ripple, we are likely to see a breakout above the symmetrical triangle.

Note that the symmetrical triangle is created by two trendlines connecting a series of lower highs and higher lows. The trendlines converge at a relatively equal point called an apex. Simultaneously, a breakout above the upper trendline line results in a significant upswing while trading below the triangle culminates in extensive losses.

XRP/USD 4-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

Breakouts or breakdowns from symmetrical triangles have an exact target, measured from the highest to the lowest of the pattern. Thus, XRP could soar to $0.5 if the price spikes above the triangle. However, the 50 SMA and the 100 SMA may absorb the buying pressure. XRP also needs to overcome the resistance at $0.3 to sustain the uptrend.

On the flip side, losses under the triangle would result in losses as low as $0.087. Other areas of support to keep in mind include $0.25, $0.20, and $0.17.

The post XRP Price Analysis: XRP Price Nurtures A Potential 63% Breakout To $0.5 appeared first on Coingape.

Indian Central Bank RBI is Reportedly Exploring the Need of Cryptocurrency in Payment Sector

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RBIReserve Bank of India (RBI), the Indian central bank is reportedly looking at the use cases of cryptocurrencies in the growing payment sector as per a report in the Economic Times.

The Indian Central Bank reportedly released a booklet covering the journey of digital payment and settlements in India in 2020, where it suggested that they are exploring the need for cryptocurrencies in the current financial system, and if there is a need than what is the scope of it and what regulatory changes would be required.

The central bank in its report said,

“Private digital currencies (PDCs) / virtual currencies (VCs) / cryptocurrencies (CCs) have gained popularity in recent years. In India, the regulators and governments have been skeptical about these currencies and are apprehensive about the associated risks. Nevertheless, RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalize it,”

The RBI is also set to release a Digital Payment Index (DPI) capturing the extent of digitization of payments in the country and that report could well indicate the government’s move towards the rising popularity of cryptocurrency and its fate in India. The RBI said,

“The RBI-DPI has since been constructed with March 2018 as the base period, i.e. DPI score for March 2018 is set at 100. RBI-DPI was published on January 01, 2021, and the DPI score for March 2019 and March 2020 were 153.47 and 207.84, respectively,”

Is RBI Changing Stance on Crypto?

The RBI booklet exploring the need for cryptocurrencies in the current digital payment system is a big boost for crypto entrepreneurs in the country, given until now RBI has maintained a passive stance on crypto starting with the infamous circular back in April 2018 banning banking services to the crypto companies.

The banking ban was quashed by the Supreme Court in March this year bringing much-needed relief to the budding Indian crypto sector.

The post Indian Central Bank RBI is Reportedly Exploring the Need of Cryptocurrency in Payment Sector appeared first on Coingape.

How do you use bitcoin at online casino?

Bitcoin is the most contemporary and revolutionary money and its popularity is growing faster within each year. If you do not know exactly what bitcoin is, we will explain in short: this currency exists only on the Internet; it has no connection with official financial institutions, and, being totally virtual, it has no economic equivalents.

Why is it convenient to use Bitcoin for online gambling?

Using Bitcoin for online gambling has a range of incontestable advantages over the other methods. The Bitcoin payments are made anonymously so your deposits and withdrawals will not be transferred to any third person and your experience at online casinos will not be shown to your bank. The online casino will not also see the private data of your Bitcoin wallet, so your identity is fully protected. This is more than actual for gamblers who can not use the bank cards as their jurisdiction force the financial institutions to block any transactions made via gambling sites.

Another great perk is the absence of additional conversion of your funds that is sometimes inevitable when you make your gambling transactions in traditional currencies. You may not probably know, but every time you pay in your local currency, say, GBP, and the website’s currency is EUR, your currency is converted to USD first, and in EUR after that. All transaction fees will be excluded from your account, and if you use cryptocurrency, you can avoid such extra charges and save your money. As Bitcoins are not connected with any banks, you do not also pay any other commissions for your transactions.

In addition, Bitcoin wallets are always included in the list of instant options of withdrawals and deposits. Moreover, many online casinos encourage their customers to pay in cryptocurrencies and offer more bonuses applied for the min deposit made with Bitcoins.

Finally, Bitcoin wallets are very hard to crack: there is no personal data required to create a Bitcoin account, and the security systems are highly protected. Thus, this method also helps you to make sure all your finances are safe.

Where to get Bitcoins?

Basically, there are two ways of earning Bitcoins: to change any other currency to Bitcoins with the use of online marketplaces or to mine them yourself.

There is a range of cryptocurrency exchanges, that you can register at and purchase Bitcoins for your local currency or other cryptocurrencies, for instance, Litecoins. If needed, you can also sell your Bitcoins with the same method.

Before you deal with any trades, you have to choose a place where you are going to store your cryptocurrency deposits; for this, you have a very rich choice of different Bitcoin wallets, so before registering at one of them, you can read reviews on the Internet and compare different ratings, that describe pros and cons of each available wallet.

Mining Bitcoins is a demanding process: you need to obtain very modern and powerful hardware; Bitcoin farms require not only the latest expensive video cards but also consume tons of electricity power, so even a home small farm will need a range of serious investments.

How to make a deposit at Bitcoin Casinos

The Bitcoin payment method is actually the same as payments with credit/debit card or any e-wallets; the key moment here is to find a casino that accepts such an option; we will review the top-rated online casinos that accept Bitcoin in the next part of the article, and there are much more of them then we can overlook within this article, so this is not going to be a problem.

Then you will have to choose the desired payment option (if possible — there are casinos that are totally based on digital currency and have no standard options at all ) and transfer your money using the wallet where you keep your funds. As digital currency transactions are not controlled by any official bodies, such a procedure will be immediate — a few moments and you can use your deposit and get the rewards from the gambling site.

The best Bitcoin online casinos

As we have mentioned previously, there are online casinos that accept only Bitcoins, and some that give you a choice so you can also use your credit card or some e-wallets. Our rating is based on the positive reviews from the customers and includes only safe places with good perks for new and loyal members.

Fortune Jack

This is the oldest Bitcoin casino, which is acknowledged as one of the best online casinos that operate with cryptocurrency. This platform does not only provide you with an assortment of slot machines and various table games usual for online casinos; here you can also find live dealer games and sports betting, including live betting. The control of the website’s performance is provided by Curacao E-Gaming Commission, so staying anonymous you are still protected by the Curacao jurisdiction and can trust this online casino.

The platform is powered by multiple top gaming providers, including Pragmatic Play, Play’n’Go, Microgaming, Playson, and the others. This means having access to the most popular and loved titles like Book of Dead, Fortune Cash, Seven Monkeys — about 1 500 titles in total to choose from. This includes various types of roulettes, dice, blackjack, videopoker; as the casino is constantly updating its collection, there is a range of new games appearing regularly and some exclusive slots for the members of Fortune Jack.

The live dealer division is also developed by the top providers like EvoGaming and the other corporations of the same level; this enables Fortune Jack to provide the players with a brilliant performance in their live roulettes, Dream Catcher live, and other live games in a company of professional and friendly dealers. There about sixty live games to choose from which a really generous selection. The main disappointment about this platform is that you will not find real money online poker and live poker rooms here; however, it is obvious that the owners of the casino are constantly working on their assortment updates, so there is a chance that this extremely popular form of gambling will finally appear to cover the gaps in the collection and provide the digital currency enthusiasts with the fullest choice.

In addition, you can try the Provably Fair section, where you will find Dice, Spheres, Mines, Hilo, and Keno.

Sports betting at Fortune Jack is also organized in a decent way; it is not the biggest online bookie, but you can find plenty of markets for football and tennis; there are twenty-four sports to bet on and also about 10 options for live betting. The live streaming option is not enabled, but you can follow the game with the visual graphics that shows all the most important moments of the match. The odds are quite average, so nothing special can be said about them; some of the betting markets contain competitive offers and if your main purpose is enjoying casino games and sports betting is just a good option for switching to something new, you can definitely try placing stakes at Fortune Jack. Besides classical sports betting, they have Virtual sports, too, so their sportsbook is really full of offers and has many things to choose from.

Bonuses and promotions

To register with Fortune Jack, you have to choose an account: you have to create two different accounts to participate in both major forms of gambling — casinos and online bookmakers websites. Each account has its own promotions and gifts for new and loyal customers, so let’s review them separately.

Bonuses for casino are given as soon as you finish your registration process: the very first welcome offer is a no deposit bonus, that allows you to get 25 free spins that can be used for any slots presented on the website. Don’t forget to check the other terms and conditions before you claim the bonus as they may be changed; at the moment the wagering requirements are 40X, and the total winnings that can be gained are limited by 50 mBTC.

When you place your first deposit, you get a match bonus of 110 percent to the amount you have deposited. The maximum amount you can get from this bonus is 1,5 BTC. In addition, you are given 250 free spins; the package will bring you the profit in case you meet the requirements in two weeks from the moment you activate your bonus (e.g. make your first deposit).

The sportsbook bonus is less generous but is still quite nice: you get free bets up to 10 mBTC for your first betting deposit.

In addition, Fortune Jack offers regular promotions for loyal customers; there are weekly cashback, a special minimized percentage of the house edge for certain games, and a loyalty program that enables the players to get more special offers and participate in closed events.

Deposits and withdrawals

As we have mentioned before, Fortune Jack is the gambling site that is totally based on alternative currencies. Bitcoin, the most popular and well-known type of such currencies, is not the extent of the possible payment methods: you can also use Bitcoin Cash, LiteCoin, Ethereum, ZCash, Dash, Tron and other cryptocurrencies. You can not deposit less than 0,002 BTC, but you will be pleased to hear that there are no withdrawal limits, so high rollers will definitely appreciate this payment method. If you want to withdraw really big amounts, be ready to wait for a couple of days, but most transactions are finished in less than one hour.

Bitcasino

This is another casino, licensed by Curacao, that officially provides its services and rated as one of the best bitcoin casinos in terms of customer support, choice of entertainment, and bonuses.

The list of the allowed countries is big enough to cover many customers all around the world; however, there are some restricted ones, too, including Great Britain and the United States.

The website design is simple and nice; being quite a modern platform (it was established in the year 2014), it is compliant with all the most up-to-date trends in webdesign: minimalism and simplicity with some distinctive brand features. It is quite easy to navigate and to find all the offers, so even if this is your first online casino, you will not have issues getting started.

For your convenience, the games are divided into two sections: online games and live dealer games. The first collection contains approximately 4 000 titles, and the live section has 128 games to pick from. This is a multi-provider casino, so you can enjoy the blockbusters from EvoGaming, NetEnt, Ezugi, Betsoft, Kalamba Games, OneTouch, and the other leaders of the casino software industry. You can search the slots and table games by providers, by titles, and sort them by their popularity, RTP, alphabetic order, and volatility. Besides the classical fruit slots and the progressive jackpots, like Tomb Raider, Black Mamba, Mega Moolah, you can also mix up your experience by playing the theme slots that are created on the cryptocurrency topic, and the other miscellaneous subjects. You can choose the games by the themes — all possible options are presented right on the main page and include such themes as Sea, Candy, Money, Wild West, Horror, and plenty of others.

Live games include online poker, various roulette, bingo, keno types, and are lead by several companies who are highly experienced in providing the best live gaming experience for casino websites.

All games can be tried in the demo version, so you can try the features of the casino before you buy Bitcoin currency to create your real money deposits.

There is also a betting service, where you can place stakes on sports, including e-sports events like Dota 2, Counter-Strike: Go, and the other popular online tournaments. For sports betting, you will have to register at a separate platform owned by the same company.

One more perk that is emphasized by the members is the professional and helpful customer support available 24/7; according to many reviews, this online casino is one of the best in terms of customer service, which is as important as having good software and convenient payment options.

Bonuses and promotions

The welcome bonus is quite a simple one, but is really pleasant in terms of the maximum amount: your first deposit gives you a 100% match bonus of up to 1 BTC.

The weekly promotions can bring you up to 200 free spins, cashback, and the participants of the VIP program can claim special services including unique events, more spins, deposit bonuses, and a personal managers’ team who will be available at any time to support you in case of any issues or questions.

Payments

Just like the previous casino, the BitCasino offers you to use different alternative currencies besides Bitcoin; you will see the complete list of them right on their main page. The deposits and withdrawals can proceed with the following methods:

  • MasterCard credit cards
  • Any Bitcoin wallets
  • MuchBetter
  • Neteller
  • Skrill

As you see, fiat banking options are also available; in this case, you just make a transaction with a standard method, for instance, a credit card, and the funds are automatically converted into BTC; you can check the Bitcoin rate on the main page of the casino website.

BetChain Casino

This gambling platform is full of offers in terms of bonuses, payment methods, and, of course, games. The first thing you need to know about it is that it is of the top online gambling sites licensed by Curacao so it is a reliable place for keeping deposits and having a safe bitcoin gambling experience.

However, your identity will not stay anonymous with this platform: for any withdrawals and bonus claiming, you will have to demonstrate your personal data, including your ID card or passport — the players who use bitcoin transactions for staying undefined, might regard this as a major drawback, even though the casino is safe and verified after all.

You will not find sports betting options here; the website is fully focused on online casino products. To deliver as many titles as possible, BetChain cooperates with many software companies including famous Microgaming, Play’N’Go, Ezugi, GameArt, Pragmatic Play — twenty game operators in total. No marvel that you will find actually anything that a gambler may want to see in a casino — not speaking of some exclusively designed games.

Bonuses and promotions

As soon as you complete your registration and go through the verification process, you are welcome to use the bonus given for your first deposit. The first deposit bonus here is 100 percent up match up to 200 EUR, and additional 200 free spins that equal 20 EUR in total. To get this bonus, you are offered to make a deposit of at least 10 EUR and meet the wagering requirements of 50X.

There is also a second deposit bonus, and a third one: totally, you can get up to 1200 EUR as bonus funds.

There are also special conditions for players who deposit not from their standard bank account, but using bitcoin for casinos and betting sites. In this case, your 1st deposit bonus will be a 150 percent match and can reach 1BTC plus the additional 200 free spins.

There is also a no deposit bonus of 20 free spins, which is actually a good start for the new gamblers.

Payments

The range of payment options is incredibly big; not every online casino can be proud of such a choice. Besides digital currency wallets, you can also use your Visa, Maestro, or Mastercard cards, PaySafeCard, Skrill, Neteller, UMoney Wallet (ex-Yandex Money), QIWI Wallet, Skrill, Neteller, NeoSurf, EcoPayz, and some other local wallets. However, the limits vary for different methods. For most options, the maximum deposit is 4 000 EUR, but it can be restricted to 1 000 EUR for prepaid cards and be unlimited for alternative currencies, so check carefully all terms before placing a deposit or claiming a withdrawal.

There are withdrawal limits: you can not charge more than 1 500 EUR from your account per week, and the monthly limit is 6 000 EUR.

Bitcoin Penguin

There is no better word to describe this online casino’s design as ‘cute’. It looks really nice and modern, with pretty graphical pictures and navy blue schemes. The navigation is more than easy from any device including tablets and smartphones working on iOS or Android operating systems.

What is special about this site? Firstly, they guarantee your anonymity and provide you with quick, easy, and totally anonymous registration. The range of games is not probably the biggest one on the market, but you will definitely find the most popular and loved slots, roulettes, blackjack, and baccarat titles. You can find the game by its title by simply typing it to the corresponding search field, or sort all slots and table games by their provider or popularity rankings. The most played jackpots and slots at the moment are the Colossal Vikings, Book of Pyramids, and Aztec Magic. You can see the amounts won by the other players in a ticker tape on the main page which may help you to get an idea of what to play today.

The video poker lovers will find only three editions of their favorite game, but the selection is bigger in the standard poker games section: Oasis, Texas Hold’em, Caribbean Poker, Three Card Rummy, and some more. The library also includes separate games for mobile phones; the mobile experience is realized in a very decent way, which gives Penguin another point in their favor.

Among the special games, Penguin offers Keno, Minesweeper, Horse Racing, Head and Tails, and several variants of Scratch cards. The demo versions of most games are also available both on a desktop version and a mobile device.

One of the disadvantages is definitely the absence of live games. The Bitcoin Penguin has live dealer games and poker rooms in their game selection bar, but if you choose it, you will find no titles in the division. However, the existence of such a section, even though it is currently empty may imply that in some time it will be enabled and filled with at least a couple of games like live roulette or live baccarat.

One more inconvenient thing to be mentioned: the casino does not show a list of restricted countries anywhere. Actually, as this platform is totally based on cryptocurrencies and does not accept any standard payment options, it may have no restrictions at all, but it is better to reconfirm this with the customer support, which, fortunately, works quickly and is available round the clock without any weekends. The website works under Costa Rica’s jurisdiction: this is an official and reliable license, but you have to mind that getting verified by Costa Rica is even easier than by Curacao. Many gamblers all around the world trust casinos licensed by Costa Rica and a lot of positive feedback from BitcoinPenguin’s members does not make us think that there are major reasons to doubt in this platform.

Bonuses and promotions

There is a welcome package given to the newly signed up users: you get a bonus for your first two deposits, which are 150 percent and 75 percent match respectively. In addition, you gain 40 and 25 free spins as a gift for your 1st two transactions, and the total amount that you can receive in total is 0,4 BTC.

If you use another digital currency types, the welcome bonus has the same conditions, but the amounts will be recalculated according to the current rate at the moment of payment. For instance, the 1st deposit bonus of 150 percent will have a maximum amount of 2,5 LTC. The number of free spins remains the same no matter which option you are going to use. Don’t forget to check the wagering requirements: at the moment, they are 45X, but the changes are always possible, so take your time to get acquainted with the terms and conditions offered by the casino.

There are also luring promotions that include having free spins for Monday and Friday deposits, the cashback given also at certain days of the week, and deposit bonuses up to 50 percent.

In addition, it makes sense to check different websites that partner with BitcoinPenguin to see if they contain any special promotion codes. There are some casino informational platforms that can give you extra bonuses exclusively for their customers — and BitcoinPenguin willingly cooperates with them.

Payment methods

As we have already mentioned in this review, only Bitcoins and other Altcoins are accepted by the company, which gives you a guarantee of keeping your private data out of reach of any third party. You can use Bitcoin, LiteCoin, DogeCoin, and other currencies; the full list is provided on the website.

When it comes to deposit and withdrawal limitations, it turns out that the casino is obviously created for the high rollers, as the min deposit is 0.1 BTC. If you check the rate of Bitcoin, you will find out that is really enormous for a casino deposit for casual players. The withdrawals are not limited; at least, it is not indicated anywhere in the payment terms and conditions on the casino page. Penguin claims to have instant transactions and this is most likely to be true: as you already know, cryptocurrency payments proceed at a far quicker rate than the regular standard USD, EUR, and other familiar ones.

If you take a look at the withdrawal policy carefully, you will also see that before you can request any winnings from your account, you have to make at least three deposits and use them for slot games or table games. Such a policy is quite typical and prevents the casino from any fraudulent actions from a player’s side.

LINK registers significant gains to set a new ATH above £18

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LINK ATH

As bitcoin (BTC), the leading cryptocurrency in terms of market capitalization, continues trading sideways, many alternative cryptocurrencies (altcoins) have been recording massive gains. One such coin is LINK, the native token of renowned decentralised oracle network Chainlink. LINK’s uptick in recent days saw it surpass its previous all-time high (ATH) before setting a new one above £18.

LINK surged as high as £18.7 earlier today, recording its highest price since launch. However, after setting a new ATH, the coin made a slight price correction, losing 1.92% of its value. At the time of writing, the coin is changing hands at £18.35. This figure denotes a 4.21% gain over the past 24 hours and a 13.69% rise over the last seven days.

Over the past year, the coin gained more than 500%, seeing as it traded between £1.5 and £2.2 in January 2020. Through these gains, LINK has managed to secure the 7th position on CoinMarketCap’s top-100 list of leading cryptocurrencies regarding market capitalization. The coin has a market cap of £7,426,636,383.5 with 402,509,556 tokens in circulation.

Factors backing LINK’s rally

According to experts, the current altcoin rally is correlated to BTC’s performance. At the time of writing, BTC is trading at £24,378.9 after gaining 1.67% over the past 24 hours. Analysts believe that through this consolidation period, BTC has allowed the circulation of funds into altcoins.

Explaining this concept, Vinny Lingham, the founder of crypto wallet and identity verification firm Civic, tweeted,

Apart from this, Chainlink has been making strategic partnerships with leading firms, including Google, which have in turn exposed LINK to more users across the globe. The most recent collaboration was with Queenbee, the developer of the QBEE platform, in a deal involving the integration of Chainlink oracles.

The post LINK registers significant gains to set a new ATH above £18 appeared first on Invezz.

Still missing coronavirus stimulus check? Biden’s executive order to speed it up

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coronavirus stimulus check order mandatory mask mandate coronavirus economic stimulus checks

President Joe Biden doesn’t just want another round of stimulus checks, he is also concerned about those who haven’t yet received their payment despite being eligible. Thus, Biden signed an executive order asking the Treasury Department to reassess their delivery mechanism to ensure all people eligible for the coronavirus stimulus check get it.

Q4 2020 hedge fund letters, conferences and more

Coronavirus stimulus check: Biden signs executive order

As per Biden’s executive order, about 8 million eligible people didn’t receive the first coronavirus check (of up to $1,200) authorized by the CARES Act in March. It is believed the same number of people might not have received the $600 checks as well.

Experts say the Treasury Department could come up with more ways, such as online tools, to help these 8 million people know that they qualify for the payment and claim it. The people who fall into this group are mostly low income people that need the help the most. So, it is a good initiative from Biden to help them.

It is not that the IRS hasn’t made efforts to reach out to these people. The agency came up with an online non-filer tool, allowing people to register their information to get the payment. Also, it mailed letters to about 9 million people, informing them on how to claim their payment if they are eligible.

IRS Commissioner Chuck Rettig, at a hearing last fall, estimated that 8 million eligible people haven’t yet used the non-filer tool. Now that the IRS has processed the second stimulus checks, it is believed the number of people missing checks could be much higher.

This is because Congress expanded the eligibility with the $600 checks. With the $600 checks, approved last month, the families with mixed-status households, were also eligible for the payment.

How does the IRS plan to work on Biden’s order?

The Treasury Department has also vowed to increase efforts to reach those 8 million people. The agency talked about its plans of adding simple options for people who do not file a tax return. These options would make it easy for those without internet access or do not speak English, to register their information with the IRS.

“As part of this new effort, Treasury will build on that work done to date – incorporating lessons learned over the past year – to reach households who either were not issued payments or who otherwise were unable to access their funds,” the IRS said in a statement.

For now, the agency is asking those still missing a payment to file for a recovery rebate to claim their payment. The tax filing season starts Feb. 12 this year.

Biden’s executive order also aims at expanding food assistance. Specifically, the order calls for the Department of Agriculture to raise Pandemic-EBT benefits by 15%. Also, Biden signed another executive order to raise the minimum wage to $15 for the federal workforce.

 

The post Still missing coronavirus stimulus check? Biden’s executive order to speed it up appeared first on ValueWalk.

Marathon Patent Group Follows MicroStartegy to Buy $150 Milion Bitcoin From Treasury Reserves

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Marathon Patent Group, a Nasdaq listed firm became the second publicly traded firm to convert a portion of their treasury cash into bitcoin after the firm announced on Monday that they have bought $150 million in Bitcoin at $31,135 apiece using its treasury cash. The decision to convert a portion of treasury cash into Bitcoin was initiated by MicroStrategy who has bought over $1.4 billion in bitcoin till today.

Marathon CEO Merrick Okamoto said that the decision to convert a portion of treasury cash to bitcoin is a long-term decision suggesting they might follow on the footpath of MicroStrategy and continue converting their cash reserves from time to time. Okamoto explained,

“By leveraging our cash on hand to invest in bitcoin now, we have transformed our potential to be a pure-play investment into a reality. We also believe that holding part of our treasury reserves in bitcoin will be a better long-term strategy than holding U.S. dollars, similar to other forward-thinking companies like MicroStrategy.”

The bitcoin price has moved between the range of $30,000 – $33,000 over the last week before breaking out today, which led to another series of mainstream headlines doubting bitcoin’s future for the third time this month. However, during the same period, the likes of MicroStrategy and Marathon Group decided to buy the dip.

Marathon Patent Group Looking to Become Largest Bitcoin Miner

Marathon Patent Group is not new to Bitcoin as the company has been mining the top cryptocurrency since 2017 with over 2560 miners under its ownership. The firm is reportedly ming 2-3 bitcoins per day and is already looking to expand its operation.

Marathon Group has ordered  100,500 units of advanced S19 miners from Bitmain costing them $270 million.

The CEO of the firm revealed that once this shipment of new advanced rigs is installed and fully functional, they would produce more hash input than any other mining company. Okamoto said,

“When fully deployed and installed, the company’s total hashrate capability will exceed 10.34 exahash [from the current about 256 petahash], which we believe could make Marathon the largest bitcoin miner in the world.”

The post Marathon Patent Group Follows MicroStartegy to Buy $150 Milion Bitcoin From Treasury Reserves appeared first on Coingape.

Rothschild Investment Corporation Reveals it Holds 30,454 shares of GBTC

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Rothschild Investment Corporation, founded in 1908 in a filing with the SEC revealed that the company has increased its holdings of GBTC to 30,454 shares. The increase is of nearly 6,000 shares from its previous filing of the SEC.

In its filing with the SEC, the investment group revealed that it has a total portfolio of $ 919,014,000 while the real value of assets under management was not revealed.

The investment cooperation’s revelation about their GBTC holdings highlights the growing interest of the institutions in the top cryptocurrency and how the likes of leading institutions such as MicroStrategy and Paypal and more publically traded companies are looking to gain exposure in the top cryptocurrency.

Institutional Interest For Bitcoin Continue to Peak

Bitcoin finally managed to break off from the 4-day price zone of below $33,000 to record a new daily of $34,667. The halt in Bitcoin’s soaring bull run over the past two weeks had made many call the ATH of $42,000 the short-term top for the digital asset. However, institutions seem to be bullish on bitcoin as the likes of MicroStrategy and Marathon Patent Group bought the bitcoin dip.

The surging institutional interest post bitcoin halving in May is being seen as a key driving metrics behind Bitcoin’s mammoth bulk rally starting toward the end of October 2020, which helped bitcoin to more than double its 2017 ATH of  $20,000.

Another factor to note here is that these institutions are not buying bitcoin just because of its surging price, but more as long time investment and the likes of MicroStrategy and Marathon Group have done so by converting a portion of their treasury cash into Bitcoin and have hinted that they may continue to do the same in future as well.

The top cryptocurrency is currently looking to regain its position above $36,000 as on-chain metrics are still signaling bullish sentiment to be prevalent in the market.

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Bitcoin Eyes $36k as it Breaks Out From 4-Day Range, Ethereum Breaks Key Resistance Against BTC

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One-River-DigitalBitcoin finally breached the $34,000 price resistance nearly after 4 days of consolidation between $30,000 and $33,500. The top cryptocurrency was trading at $34,443 at the time of writing with a 5% rise over the past 24 hours. The top cryptocurrency’s bull run slowed down significantly entering into the second week of 2021 after creating a new ATH above $40,000 in the first week.

Source: TradingView

The Monday mayhem a couple of weeks ago saw the top cryptocurrency lost nearly 23% of its market cap within a day for the first time since the 50% crash in March 2020. Bitcoin since then has been struggling to build a bullish momentum similar to the one started on Christmas eve, which saw BTC gain nearly $21,000 in 21 days.

After breaching the $34,000 price resistance BTC would be eyeing to regain the $36,000 levels before testing the ATH again as on-chain metrics are still in its favor. Bitcoin whales were seen accumulating and MicroStrategy again bought the Bitcoin dip, suggesting the market is still bullish on the top cryptocurrency despite the recent correction.

Ethereum Breaks Out Against Bitcoin

Ethereum, the second-largest cryptocurrency by market cap recorded a new ATH of $1,478 today and also broke against bitcoin many deeming it a massive breakout that reached levels only seen in 2018.

Ethereum in 2021 is looking as bullish as bitcoin if not more, as it has surged by nearly $1,000 since the start of the year. Having already broken its ATH on several exchanges, many believe the second-largest cryptocurrency could register a similar price rally to BTC in the coming days.

Ethereum’s breakout against bitcoin could also help other altcoins to rally along as with the alt season long due for quite some time now.

Eth rally was also helped by defi push as the market cap registered a new ATH of $45 billion with several defi tokens registering bullish rallies in the past 24 hours.

The post Bitcoin Eyes $36k as it Breaks Out From 4-Day Range, Ethereum Breaks Key Resistance Against BTC appeared first on Coingape.

Asian stocks post biggest fall in two months on U.S. stimulus worries

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By Anshuman Daga SINGAPORE (Reuters) – Asian stocks fell on Tuesday, retreating from record highs as lingering concerns about potential roadblocks to the Biden administration’s $1.9 trillion stimulus weighed on sentiment, dragging U.S. Treasury yields to three-weeks lows. The lower risk appetite lent some support to the dollar against a basket of currencies, while oil prices edged down. EUROSTOXX 50 futures eased 0.1% while FTSE futures added 0.03%, indicating a mixed open for European stock markets. E-Mini futures for the S&P 500 ESc1 shed 0.5%. In a sea of red seen across markets, South Kore…

Russian government orders officials to dispose of their crypto

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Roskomnadzor blacklists Binance

The relationship between the Russian government and the cryptocurrency industry remains as chaotic and as unpredictable as ever. Some time ago, the country’s government was supposedly planning to ban crypto, which never happened. Then, it suddenly decided to legalize it but not allow it to be used as a means of payment. Now, Russia came out with a new order, which is for all government officials to dispose of any coins they may own.

Russia orders government officials and business executives to dispose of crypto

A recently published document, issued by the Russian Ministry of Labor, informed officials of both Federal and local governments that they are no longer allowed to hold any cryptocurrency. Anyone who may have bought Bitcoin or some other coin in the past is now obligated to dispose of such assets.

The document was actually posted over a month ago, on December 16th, 2020. It explained that the new directive is supposed to eliminate corruption among the country’s leaders.

The letter actually goes beyond including only those in various government bodies. Instead, it also includes the board members of the Bank of Russia, and even the chairs of government-owned companies and corporations.

Even the spouses and under-age children of these individuals are prohibited from owning digital currencies, or any digital assets that were issued outside Russia.

Russian govt officials must comply by April 1st

The letter mentioned that government officials and other mentioned parties are obligated to do as instructed due to the law on digital assets that came into force in January — weeks after the letter originally emerged.

The new law comes with multiple amendments to other laws in Russia, including the one that prevents any government official from opening accounts in banks outside of Russia. This now also includes digital assets.

The letter mentioned that all government officials must dispose of their coins by April 1st, 2021, although there are no strict rules for disclosure at this time.

It is not known how many government officials — if any — own cryptocurrency, but by April 1st, their number will be brought down to zero.

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Ray Dalio warns we could be “on the brink of a civil war”

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bridgewater esg dalio ddtg world order Ray Dalio world powers

While Biden’s inaugural address and call for unity strives for a non-violent path forward that will benefit all Americans, the US is still suffering from the coronavirus pandemic and economic fallout, income inequality, political divides and massive government debt and Ray believes that if these factors are not properly addressed the country could be on the brink of a civil war, which he has been predicting for a while in his Changing World Order study that he has been releasing in installments on LinkedIn. The installments, which look at what causes world powers to rise and fall, can be found here.

Q4 2020 hedge fund letters, conferences and more

The Path Forward For The U.S.

Back in February, I said I wanted a president who could “bring together our country to face our challenges in a more united and less divisive way.” I wanted someone who would unite people – i.e. who does not view themselves as the leader of the winning side imposing policies the other side would find intolerable. I believe we are on the brink of a terrible civil war (as I described in The Changing World Order series), where we are at an inflection point between entering a type of hell of fighting or pulling back to work together for peace and prosperity that addresses the big wealth, values, and opportunity gaps we’re now seeing.

For that reason I was thrilled to hear what President Biden said at his inauguration. It is consistent with the direction history has shown the country needs to move in. Now the question is whether the president and both parties will bring that about. Good words and spirit aren’t enough. People will have to agree on both how to grow the pie and how to divide it well. That will require revolutionary change. Doing it peacefully requires both bipartisanship and skill. It won’t be easy. Our country is still in a terrible financial state and terribly divided. I will monitor how those good intentions are turning into good actions and keep you posted.

Read more.

 

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Grayscale Investments® Donates $1 Million to Coin Center and Pledges to Match Donations Up to an Additional $1 Million

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Grayscale to carry on the commitment first initiated by Kraken in 2018 in support of leading crypto industry think tank

New York, Jan. 25, 2021 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital currency asset manager, today announced that it will be donating $1 million to Coin Center, the leading non-profit think tank focused on public policy affecting cryptocurrency networks. In addition, Grayscale has pledged to match donations to Coin Center of up to an additional $1 million through February 2021.

This donate-and-match commitment was first initiated by Kraken in 2018, when its million dollar donation became Coin Center’s single largest contribution to date. The crypto community further took up Kraken’s pledge to match donations up to another million, allowing Coin Center to raise over $3 million that year.

“Education is both a key challenge and opportunity for our industry today — educating our community, the public, and regulators,” said Jesse Powell, CEO of Kraken. “At the time, we wanted to show our support and gratitude for the work that Coin Center was doing on behalf of the cryptocurrency networks that firms like Kraken are built on. Today, their work is even more critical, so I am very pleased to see a leading firm like Grayscale Investments stepping in and taking the baton to continue what I hope will become a tradition of giving for our industry.”

Coin Center works to inform policymakers and ensure that the government’s approach to cryptocurrencies is based on a sound understanding of the technology and respects individual rights of speech and privacy. Through producing and publishing research, educating policymakers, and engaging in advocacy, it hopes to preserve the freedom of cryptocurrency developers and users to continue pushing this technology forward.

“There’s not been a better time to invest in the growth of this industry, following a year which saw cryptocurrencies becoming recognized as a bona fide asset class, enjoying the participation of the broader investment community and notable financial services institutions,” said Michael Sonnenshein, CEO of Grayscale Investments. “While it is the responsibility of blockchain and digital currency firms to support good policy-making in DC to drive this industry forward, it is in the interest of all users, developers, investors, and other market participants that regulators are properly informed about developments in this space.”

The fundraising campaign will happen throughout the month of February, the proceeds of which will go toward Coin Center’s ongoing advocacy mission.

“We’re grateful and humbled by this generous commitment from Grayscale and the ongoing commitment by so many other individuals and firms who support us,” said Jerry Brito, executive director of Coin Center. “We exist to ensure that there’s a voice in Washington for open, permissionless cryptocurrency networks, which are public goods from which everyone benefits. The funds we raise are crucial to helping our team do all we can in ensuring that the ecosystem continues to mature and grow.”

In addition to supporting Coin Center, Grayscale Investments is a member and financial supporter of Blockchain Association, a digital currency trade association that focuses on promoting better policymaking for cryptocurrencies and blockchain networks.

You can join the matching campaign and see who has already donated by visiting coincenter.org/matching.

About Grayscale Investments® 
Grayscale Investments is the world’s largest digital currency asset manager, with more than $24.2B in assets under management as of January 22, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. For more information, please visit www.grayscale.co and follow @Grayscale.

About Coin Center 
Based in Washington, D.C., Coin Center is the leading non-profit research and advocacy center focused on the public policy issues facing cryptocurrency and decentralized computing technologies like Bitcoin and Ethereum. Their mission is to build a better understanding of these technologies and to promote a regulatory climate that preserves the freedom to innovate using permissionless blockchain technologies. They do this by producing and publishing policy research from respected academics and experts, educating policymakers and the media about blockchain technology, and by engaging in advocacy for sound public policy.

CONTACT: [email protected]

Voyager Token (VGX) price goes up by more than 900%

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Voyager Token (VGX) price goes up by more than 900%

Voyager cryptocurrency exchange recently saw its native coin, Voyager Token (VGX) price skyrocket by over 900%. The surge came rather suddenly, pushing the token to a new all-time high.

Voyager Token price skyrockets

Voyager Token, which is also known as BQX at some trading platforms, managed to surge as much as 620% recently, and its new all-time high arrived on January 15th, when the coin hit $1.48.

According to recent data, it appears that the coin started seeing an increase in activity several weeks ago. The number of its daily active addresses started climbing without warning, and it quickly surpassed 1,500. Meanwhile, it also started seeing a growth in volume, with transfers reaching $60 million soon after.

All of this pushed the coin up, and brought a lot of attention not only to the coin, but also to its platform. Users quickly learned that the Voyager exchange doesn’t charge commissions for its crypto broker services, and that it has a smart order router that allows clients to reach multiple other brokers through it.

The platform also operates as a fiat gateway, it offers interactive charts, market data, crypto research, staking returns for a number of cryptos including Bitcoin (BTC), as well as 9% interest on stablecoins.

Voyager’s rapid expansion

Another thing that the exchange has going for it is the Invest Voyager app, which allows traders to make a passive profit through interest, but it doesn’t obligate them to lock up their tokens. Staking is possible, of course, and those who opt to stake VGX can earn higher yields.

Back in February 2019, Voyager also got listed on the Canada TSX exchange through a reverse merger. Interestingly enough, the deal did not involve a single USD. Later that same year, Voyager also teamed up with Celsius Network (CEL), which has been managing a portion of its users’ assets ever since.

One year after the reverse merger, Voyager also acquired Circle Invest, converting over 40,000 accounts. In 2021, Voyager is available across the US, apart from the state of New York. It has applied for the state’s Bitlicense, but it still waits for official approval. It is also expanding to Europe thanks to last year’s acquisition of France-based exchange, LGO.

The post Voyager Token (VGX) price goes up by more than 900% appeared first on Invezz.

Sell, Sell, Sell? Market Set To Drop 30%

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Otos

The Broad Market Index was up 1.94% last week and 34% of stocks out-performed the index.

Q4 2020 hedge fund letters, conferences and more

The Largest Gap Between Share Prices And Corporate Growth

Currently, we have the largest gap between share prices and corporate growth than we have ever seen. We have been lulled into a dangerous complacency with now 12 years of round after round of massive money-printing by global central banks. This has the effect of increasing the value of assets and decreasing volatility. The central bankers have blown an enormous asset-price bubble.

We know this gap will close but the recent extended share prices suggest that people expect the corporate growth downtrend to reverse very soon and very strongly. The fourth-quarter numbers that we will see in coming weeks will provide a hint but it will not be until the second quarter of this year before we can measure the growth trend independently of the impact of the virus.

The Gross Margin Chart below is the performance of stocks versus long treasury bonds (in blue) and the average corporate gross profit margin (in red).

Notice how reliable the gross margin is in predicting the direction of stocks. Also notice that, relative to bonds, the broad market index has been in a downtrend since 2018. The recent strong rally has lifted shares to a premium price in that downtrend. That makes stocks very vulnerable to a growth disappointment.

Optimism About A Strong Recovery In Growth

There is huge optimism about the imminence of an unusually strong recover in growth reflected in these in premium share prices.

However, as of the third-quarter financial statements more that 50% of companies are recording a gross margin decline and the average gross margin is down. The bottom end of the currently wide volatility range between stocks and bonds is a 30% drop relative to bonds.

It’s still very early in this year’s 2021 annual update with the recent SEC filing update only started and with a little over 3% complete. The volume of SEC filings will increase in coming weeks but for now a couple of housing companies reported weaker sales growth. That could be important because it is persistent strength in big ticket consumer goods like housing that ultra-low interest rates are designed to ignite to sustain and extend the economy. Keep an eye on sales growth in housing as it is already negative and falling which is not a good sign.

Shift to active management now and maintain a portfolio of companies with high and rising profitability.

With share prices at all-time highs and corporate growth broadly falling, it has never been more important to make active decisions with your investments.

Otos AI Supports Investment Portfolio Construction

Otos personal AI Supports Investment Portfolio Construction. Otos accommodates the broad range of investing strategies, styles, risk preferences, time horizons and goals.

Otos performs ongoing investment monitoring at the component and portfolio level which ensures that the desired attributes, preferences, and performance are sustained through time.

Our retirement portfolio strategy for people in their 40’s has a risk rotation element that reduces exposure when shares are extended and increases exposure when shares are depressed. This simple market risk element is coupled with a premium growth attribute within a socially responsible (ESG) population.

Using these active strategy elements, we have generated a substantial premium return with lower volatility. You also get control and confidence which will be very welcome as we navigate the most uncertain investing environment ever.

Get active now! Otos is welcoming new founding clients and offering an equity interest in the fintech Otos Inc.

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Otos share prices corporate growth

Otos share prices corporate growth

Otos Share Prices Corporate Growth

Otos

 

The post Sell, Sell, Sell? Market Set To Drop 30% appeared first on ValueWalk.

Bitcoin Searches in Argentina Spikes Significantly as Annual Inflation Rates Crosses 40%

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google searchesBitcoin searches have seen an unprecedented rise in Argentina when compared to the rest of the world, and many believe the reason could be its annual inflation rate which is currently about 40%.

People from financially troubled nations look for assets that can help them store the value of their earnings thus bitcoin seems to be a reliable option because of the ease of accessibility and the fact that governments can’t ban it. Argentina has accounted for a significant amount of bitcoin volume along with many other South American nations facing high inflation rates with no financial stability.

Bitcoin’s price rise this bull season has attracted the attention of institutions and finance pundits who see it as the next hedging asset, however, many poorer countries like Venezuela, Kenya, and many other African nations have been using bitcoin as a hedging asset as well as a bridge currency, as their main motive is to spend the money without losing its value rather than hodl.

Bitcoin Bringing Financial Freedom to Unbanked and Poor

Bitcoin has a different meaning for different people and that’s what makes it the biggest contender as the future of money. The likes of Microstrategy is using it as a treasury hedge asset, while Paypal is offering bitcoin trading, many asset managers are using it as a store of value while the likes of Argentinian and Venezuelan citizens use it as a bridge currency.

Most of the countries going through a financial crisis see their problem mount further because of the corrupt government, for example, the Argentinian government does not allow for buying more than 200 US dollars a month, Thus forcing them to look for assets such as bitcoin to invest in. One such user on Twitter wrote that looking at the present situation they might become the next Venezuela, a state devastated by hyperinflation.

The post Bitcoin Searches in Argentina Spikes Significantly as Annual Inflation Rates Crosses 40% appeared first on Coingape.

Ethereum (ETH) Hits New ATH With Multiple On-Chain Milestones, Liquidity Shortfall, & DeFi Optimism

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Just while Bitcoin (BTC) continues its consolidation, Ethereum (ETH) leads the crypto market rally making a solid 15% surge and hitting a new all-time high above $1450. With this move, the Ethereum market cap crosses $163 billion once again with ETH entering the price discovery mode.

Well, it’s not just investor optimism that’s driving the ETH price rally at the moment. In fact, Ethereum has smashed multiple milestones with its on-chain fundamentals getting even stronger and ETH liquidity at exchanges dropping off faster than expected.

Right from ETH non-zero addresses, to ETH retail holders, to ETH whale addresses, all have smashed past new ATH. Moreover, investor confidence in Ethereum continues to surge as Ethereum 2.0 deposit contracts also hit new ATH approaching close to $3 billion. As popular crypto Twitter handle Bloqport reports, here are a few are where on-chain fundamentals for Ethereum have significantly improved.

Ethereum (ETH) Facing Liquidity Crisis & Supply Shortage

Well, just as we saw institutions taking out maximum BTC off the exchanges in early January 2021, the same is happening for Ethereum at this stage. As per data by CryptoQuant, Ethereum registered the largest network outflow with nearly 660K ETH coins leaving exchanges in a single hour on Saturday, January 23. Most of the ETH has supposedly gone either to cold storage or for staking to Ethereum 2.0.

Courtesy: CryptoQuant

Also, the total number of ETH addresses in profit has hit a new all-time high of 51.9 million as per on-chain data provider Glassnode.

The DeFi Optimism Driving ETH Price

The Ethereum blockchain is host to some of the biggest and a majority of the DeFi applications in the market. As the ETH price hits an all-time high, the total value locked (TVL) in DeFi has all move to a new ATH at $26.56 billion, as per data on DeFiPulse. CEO of Circle Jeremy Allaire says that with Ethereum hitting ATH, DeFi is set to register explosive growth.

With the DeFi optimism all around, Fundstrat Global Advisors’ strategist David Grider said that ETH price can surge 7x from the current levels giving a price target of $10,500. He said:

Ether is “the best risk/reward investment play in crypto. Blockchain computing may be the future of the cloud. Risks include setbacks for the network upgrade or a crypto bear market”.

The post Ethereum (ETH) Hits New ATH With Multiple On-Chain Milestones, Liquidity Shortfall, & DeFi Optimism appeared first on Coingape.