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Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

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Why #Fortune1Coin is a coin to the masses

Ladies and gentlemen, with this post we open a series of posts about our favorite coin - Fortune1Coin. From the technical point of view, it is enough to say that our coin is a fork of Bytecoin, well known and proven for years, which is the ancestor of almost all known cryptology with the function of anonymous payments. CryptoNight protocol, Keccak encryption, ring signatures etc... All this is present in our coin, just as it is present in the original Bytecoin and works as well as in it. With this series of posts, we want to talk about another thing. About what's so special in our coin? Why does it need to be mined and why do people have to invest in it? What is its novelty? What's it got that's not in other coins? Today the first post is dedicated to the first unique property of the coin. So...
The first thing I want to say is that from the very beginning we create a product for the masses. This was originally the central idea of our project. Although almost all coins would like to be "coins for the masses", in fact, almost all of them are created by people from the crypto industry and for people like them from the crypto industry. If you don't agree with this, then think about why no coin is a means of capital accumulation in our time? As an investment instrument, yes. But you have to agree that there is hardly a single person in the world who is saving for his old age at Bitcoins. Yes, of course, there are large investors with very long positions - this is a fact, everyone agrees with that. But they are just investors, to be more precise, 90% are stock speculators. But it does not matter. What is important is that I have not yet seen a single pension crypto-currency fund! Or a person who wants to get paid in Bitcoins for life! The thing is, cryptocurrencies is too volatile and not predictable at all. Volatility is a friend of speculators, but the enemy of money itself. Look at the USD or the EUR - they are always almost stable against each other. Yes, there are nuances, of course. But we don't need to dig so deep now, because this is not about the dollar and the euro. Cryptocurrency projects in the absolute majority of cases cannot stabilize the exchange rate of their coins (stable coins do not count, it is a separate category of crypto-assets). Why not? The reason is simple - none of the developers of these projects have ever even thought about it. Most cryptos are forks of well-known and containing conceptual flaws of Bitcoin and Bytecoin. And even Ethereum, absorbed some fundamental things that seemed right at the beginning of the crypto industry. Therefore, ETH course is as volatile as any other coin. Even less credible in the world, are various tokens, because in 99% of cases, they do not contain any real long-term economic model or unique value. As a rule, it is simply "discount coupons" + "premium access" to any goods and services that can be purchased without any tokens and the fuss associated with their purchase. Therefore, almost all tokens die, and most of them, quite quickly. So, our coin has an effective tool to combat the volatility of its rate. When the time comes (when circumstances require it), we will be ready to ensure a stable rate of our coin. How? This is facilitated by the second thing I would like to tell you about our coin. Follow our posts...
submitted by Fortune1Coin to u/Fortune1Coin [link] [comments]

End of day summary - 03/06

The Dow fell 256.50, or 0.98%, to 25,864.78 , the Nasdaq lost 162.98, or 1.87%, to 8,575.62 , and the S&P 500 declined 51.57, or 1.71%, to 2,972.37.

The stock market ended a volatile week on a lower note with the S&P 500 (-1.7%) settling just above its low from Monday. The benchmark index gained 0.6% for the week while the Dow Jones Industrial Average (-1.0%) outperformed, gaining 1.8% since last Friday.
In the U.S., nonfarm payrolls surged 273,000 in February and the unemployment rate fell back to 3.5%, which matches a five-decade low. Average hourly earnings grew 3.0% year-over-year. While a very strong report, it appears to be discounted because of the coronavirus, though it provides evidence that the U.S. economy was on solid footing before it hit. The trade deficit narrowed 6.7% to $45.3B in January as exports dipped 0.4% to $208.6B and imports dropped 1.6% to $253.9B. Wholesale inventories fell 0.4% in January, but sales jumped 1.6%.
In energy news, Reuters reported that OPEC's plans for prolonged oil cuts have been derailed as Russia refused to support the move contending it is too early to predict the effect of coronavirus on global energy demand. WTI crude for April delivery fell $4.62, or 10.1%, to end at $41.28 a barrel following the news of the OPEC blow-up. Also, Baker Hughes reported that the U.S. rig count is up 3 rigs from last week to 793.
The final session of the week was marred by a continued deterioration of sentiment due to the ongoing spread of the coronavirus while the pressure on growth expectations intensified. Treasuries essentially never stopped after Thursday's cash close, continuing their forceful charge in the overnight futures market. Treasuries did pull back from their highs in midday trade, but the long bond rallied to a fresh record high in the afternoon while the 10-yr note stopped a bit short of its best level of the day. The 10-yr yield fell 22 basis points to 0.71%, representing a 42-basis point drop for the week.
Expectations for another sharp rate cut remain in place with the fed funds futures market pointing to a 56.0% implied likelihood of a 75-basis point rate cut at or before the conclusion of the FOMC meeting on March 18.
The S&P 500 staged a 70-point rally during the final hour of trade, which led to a significant improvement in final sector standings, though all eleven sectors finished in the red.
Four groups surrendered 2.0% or more. Energy (-5.6%) and financials (-3.3%) were particularly weak throughout the day due to their exposure to growth and concerns about issuers of high-yield debt in the energy sector.
Bank stocks suffered from the drop in Treasury yields while energy companies struggled as oil fell $4.57, or 10.0%, to $41.32/bbl. The energy component ended the day at its lowest level since mid-2016 after OPEC+ could not agree to a sharp production cut despite yesterday's reports to the contrary. Russia's Energy Minister, Alexander Novak, said that OPEC+ countries are free to pump at will starting from April 1.
Shares of JPM were sharply lower amid the pullback in the market, though the bank's declines may also be made worse by news that CEO Jamie Dimon experienced an acute aortic dissection and underwent successful emergency heart surgery to repair the health issue. Co-Presidents and Chief Operating Officers Daniel Pinto and Gordon Smith will lead the company as Dimon recovers, the bank confirmed.
Shares of AAPL were lower after a fourth supplier cut guidance amid the ongoing coronavirus outbreak. ON cut its first quarter revenue outlook this morning, becoming the fourth Apple supplier to cut guidance this week after QRVO, SWKS and MCHP did so as well.
In company-specific news, COST reported better than expected Q2 results, but the stock still finished lower. AMD fared better than the broader market after reaffirming its guidance for FY20. The chipmaker did caution that Q1 results are likely to be on the low end of its guidance.
Among the noteworthy gainers were MRNA and OPK, which have each recently reported on efforts linked to combating the coronavirus. Airline stocks like ALK +4.0%, JBLU +0.1%), UAL, +1.0%, and DAL, +2.0% recorded gains on Friday after recovering from fresh multi-year lows. Alaska Air did warn that its guidance for FY20 should no longer be relied upon due to coronavirus-related uncertainty.
Among the notable losers was AOBC, which fell 30% after the gunmaker reported fiscal Q3 results below consensus and guidance. SBUX shares slid 1% after the company provided an update on the impact related to COVID-19 in China. Stifel analyst Chris O'Cull said the earnings impact to Starbucks' fiscal Q2 is likely larger than he projected, be he also pointed out that Starbucks noted there has been no perceptible impact from COVID-19 on the U.S. business.
Shares of cruise operators started the day in positive territory but retreated as the day went on. NCLH, -5.2% was the weakest performer of the bunch, stopping just above its record low (24.16) that was notched when the company went public in early 2013.
European stocks also fell sharply Friday as the coronavirus outbreak continues to impact businesses worldwide.

Currency

The U.S. Dollar Index dropped 0.9% to 95.98 and was down 2.2% for the week as rate-cut expectations boiled over. According to the CME FedWatch Tool, there is a 100% probability of another 50 basis points cut at the March 17-18 FOMC meeting and a 63% probability of a 75 basis points cut.

Treasury

U.S. Treasuries had another huge day as the stock market racked up another day of huge losses amid ongoing concerns about the spread of the coronavirus and budding credit worries. The 10-yr yield, which settled Thursday at 0.93%, went as low as 0.66% in today's curve-flattening trade before losing some steam.

Commodity

Oil prices plunged more than 8% to multi-year lows on Friday as OPEC’s allies rejected additional production cuts that the organization proposed Thursday. The meeting between OPEC and its allies, known as OPEC+, concluded with no deal on additional production cuts.
Agriculture:

Crypto

As global equity markets continue to get pummeled, bitcoin’s return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds – a desire for respite from a coronavirus-plagued markets.

Bonds, Virus and Valuation

The move in Treasuries has been precipitated by flight-safety flows that have been fueled by economic growth concerns stemming from the spread of the coronavirus. It has also been stoked by momentum, interest rate differentials, and policy stimulus expectations, the latter of which have also been nothing short of stunning.
The CME FedWatch Tool is showing a 100% probability of another 50 basis points cut at the March 17-18 FOMC meeting and a 64% probability of a 75 basis points cut.
Those expectations capture the view that the coronavirus isn't "just another flu." It might have similar characteristics, but when was the last time entire cities were quarantined, professional sporting events were canceled, travel restrictions were imposed, orchestrated efforts to force employees to work from home, states of emergency were declared, U.S. schools were closed, and the Federal Reserve ushered in an emergency 50 basis points rate cut because of the flu?
Coronavirus is quite different from the flu because the reaction to it has been universally different -- and that reaction is what gets lost in the debate as to whether the coronavirus is "just another flu." Rightly or wrongly, the coronavirus is creating an economic disruption in a manner no normal flu has in our modern age and that is the important distinction for the capital markets and policymakers.
It's another reason why the strong employment report for February has been glossed over for the most part by the market. At any other time, the Treasury market would be selling off on today's report, and, arguably, the futures market would be moving sharply higher -- but this isn't any other time.
The key takeaway from the report isn't what was in the report, it was the lackluster response to it, which is a function of expecting employment reports in coming months not to look as good because of the coronavirus impact.
The market multiple has contracted to 16.7x, which is now in-line with the five-year average -- only it isn't because earnings estimates are going to fall further.

YTD

  • FAAMG + some penny stocks -4.4% YTD
  • Spoos -8.0% YTD
  • Old man -9.4% YTD
  • Russy -13.1% YTD
Summary scraped from the interweb. Took 0.18 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

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Elaborating on Datadash's 50k BTC Prediction: Why We Endorse the Call

As originally published via CoinLive
I am the Co-Founder at CoinLive. Prior to founding Coinlive.io, my area of expertise was inter-market analysis. I came across Datadash 50k BTC prediction this week, and I must take my hats off to what I believe is an excellent interpretation of the inter-connectivity of various markets.
At your own convenience, you can find a sample of Intermarket analysis I've written in the past before immersing myself into cryptos full-time.
Gold inter-market: 'Out of sync' with VIX, takes lead from USD/JPY
USD/JPY inter-market: Watch divergence US-Japan yield spread
EUUSD intermarket: US yields collapse amid supply environment
Inter-market analysis: Risk back in vogue, but for how long?
USD/JPY intermarket: Bulls need higher adj in 10-y US-JP spread
The purpose of this article is to dive deeper into the factors Datadash presents in his video and how they can help us draw certain conclusions about the potential flows of capital into crypto markets and the need that will exist for a BTC ETF.
Before I do so, as a brief explainer, let's touch on what exactly Intermarket analysis refers to:
Intermarket analysis is the global interconnectivity between equities, bonds, currencies, commodities, and any other asset class; Global markets are an ever-evolving discounting and constant valuation mechanism and by studying their interconnectivity, we are much better positioned to explain and elaborate on why certain moves occur, future directions and gain insights on potential misalignments that the market may not have picked up on yet or might be ignoring/manipulating.
While such interconnectivity has proven to be quite limiting when it comes to the value one can extract from analyzing traditional financial assets and the crypto market, Datadash has eloquently been able to build a hypothesis, which as an Intermarket analyst, I consider very valid, and that matches up my own views. Nicolas Merten constructs a scenario which leads him to believe that a Bitcoin ETF is coming. Let's explore this hypothesis.
I will attempt to summarize and provide further clarity on why the current events in traditional asset classes, as described by Datadash, will inevitably result in a Bitcoin ETF. Make no mistake, Datadash's call for Bitcoin at 50k by the end of 2018 will be well justified once a BTC ETF is approved. While the timing is the most challenging part t get right, the end result won't vary.
If one wishes to learn more about my personal views on why a BTC ETF is such a big deal, I encourage you to read my article from late March this year.
Don't Be Misled by Low Liquidity/Volume - Fundamentals Never Stronger
The first point Nicholas Merten makes is that despite depressed volume levels, the fundamentals are very sound. That, I must say, is a point I couldn't agree more. In fact, I recently wrote an article titled The Paradox: Bitcoin Keeps Selling as Intrinsic Value Set to Explode where I state "the latest developments in Bitcoin's technology makes it paradoxically an ever increasingly interesting investment proposition the cheaper it gets."
However, no article better defines where we stand in terms of fundamentals than the one I wrote back on May 15th titled Find Out Why Institutions Will Flood the Bitcoin Market, where I look at the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass.
Nicholas believes that based on the supply of Bitcoin, the market capitalization can reach about $800b. He makes a case that with the fundamentals in bitcoin much stronger, it wouldn't be that hard to envision the market cap more than double from its most recent all-time high of more than $300b.
Interest Rates Set to Rise Further
First of all, one of the most immediate implications of higher rates is the increased difficulty to bear the costs by borrowers, which leads Nicholas to believe that banks the likes of Deutsche Bank will face a tough environment going forward. The CEO of the giant German lender has actually warned that second-quarter results would reflect a “revenue environment [that] remains challenging."
Nicholas refers to the historical chart of Eurodollar LIBOR rates as illustrated below to strengthen the case that interest rates are set to follow an upward trajectory in the years to come as Central Banks continue to normalize monetary policies after a decade since the global financial crisis. I'd say, that is a correct assumption, although one must take into account the Italian crisis to be aware that a delay in higher European rates is a real possibility now.
![](https://coinlive.io/ckeditor_assets/pictures/947/content_2018-05-30_1100.png)
Let's look at the following combinations: Fed Fund Rate Contract (green), German 2-year bond yields (black) and Italy's 10-year bond yield (blue) to help us clarify what's the outlook for interest rates both in Europe and the United States in the foreseeable future. The chart suggests that while the Federal Reserve remains on track to keep increasing interest rates at a gradual pace, there has been a sudden change in the outlook for European rates in the short-end of the curve.
While the European Central Bank is no longer endorsing proactive policies as part of its long-standing QE narrative, President Mario Draghi is still not ready to communicate an exit strategy to its unconventional stimulus program due to protectionism threats in the euro-area, with Italy the latest nightmare episode.
Until such major step is taken in the form of a formal QE conclusion, interest rates in the European Union will remain depressed; the latest drastic spike in Italy's benchmark bond yield to default levels is pre-emptive of lower rates for longer, an environment that on one hand may benefit the likes of Deutsche Bank on lower borrowing costs, but on the other hand, sets in motion a bigger headache as risk aversion is set to dominate financial markets, which leads to worse financial consequences such as loss of confidence and hence in equity valuations.
![](https://coinlive.io/ckeditor_assets/pictures/948/content_2018-05-30_1113.png)
Deutsche Bank - End of the Road?
Nicholas argues that as part of the re-restructuring process in Deutsche Bank, they will be facing a much more challenging environment as lending becomes more difficult on higher interest rates. At CoinLive, we still believe this to be a logical scenario to expect, even if a delay happens as the ECB tries to deal with the Italian political crisis which once again raises the question of whether or not Italy should be part of the EU. Reference to an article by Zerohedge is given, where it states:
"One day after the WSJ reported that the biggest German bank is set to "decimate" its workforce, firing 10,000 workers or one in ten, this morning Deutsche Bank confirmed plans to cut thousands of jobs as part of new CEO Christian Sewing's restructuring and cost-cutting effort. The German bank said its headcount would fall “well below” 90,000, from just over 97,000. But the biggest gut punch to employee morale is that the bank would reduce headcount in its equities sales and trading business by about 25%."
There is an undeniably ongoing phenomenon of a migration in job positions from traditional financial markets into blockchain, which as we have reported in the past, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer. Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream are formidable once they decide to integrate cryptocurrencies into their business models.
One can find an illustration of Deutsche Bank's free-fall in prices below:
![](https://coinlive.io/ckeditor_assets/pictures/946/content_2018-05-30_1052.png)
Nicholas takes notes of a chart in which one can clearly notice a worrying trend for Italian debt. "Just about every other major investor type has become a net seller (to the ECB) or a non-buyer of BTPs over the last couple of years. Said differently, for well over a year, the only marginal buyer of Italian bonds has been the ECB!", the team of Economists at Citi explained. One can find the article via ZeroHedge here.
![](https://coinlive.io/ckeditor_assets/pictures/953/content_2018-05-30_1451.png)
Equities & Housing to Suffer the Consequences
Nicholas notes that trillions of dollars need to exit these artificially-inflated equity markets. He even mentions a legendary investor such as George Soros, who has recently warned that the world could be on the brink of another devastating financial crisis, on lingering debt concerns in Europe and a strengthening US dollar, as a destabilizing factor for both the US's emerging- and developed-market rivals.
Ray Dalio, another legend in the investing world and Founder of Bridgewater Associates, the world’s largest hedge fund, "has ramped up its short positions in European equities in recent weeks, bringing their total value to an estimated $22 billion", MarketWatch reports.
Nicholas extracts a chart by John Del Vecchio at lmtr.com where it illustrates the ratio between stocks and commodities at the lowest in over 50 years.
As the author states:
"I like to look for extremes in the markets. Extremes often pinpoint areas where returns can be higher and risk lower than in other time periods. Take the relationship between commodities and stocks. The chart below shows that commodities haven not been cheaper than stocks in a generation. We often hear this time it is different” to justify what’s going on in the world. But, one thing that never changes is human nature. People push markets to extremes. Then they revert. "
![](https://coinlive.io/ckeditor_assets/pictures/954/content_2018-05-30_1459.png)
Bitcoin ETF the Holy Grail for a Cyclical Multi-Year Bull Run
It is precisely from this last chart above that leads Nicholas to believe we are on the verge of a resurgence in commodity prices. Not only that but amid the need of all this capital to exit stocks and to a certain extent risky bonds (Italian), a new commodity-based digital currency ETF based on Bitcoin will emerge in 2018.
The author of Datadash highlights the consideration to launching a Bitcoin ETF by the SEC. At CoinLive, our reporting of the subject can be found below:
"Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place."
Nicholas refers to the support the Bitcoin ETF has been receiving by the Cboe president Chris Concannon, which is a major positive development. CoinLive reported on the story back in late March, noting that "a Bitcoin ETF will without a doubt open the floodgates to an enormous tsunami of fresh capital entering the space, which based on the latest hints by Concannon, the willingness to keep pushing for it remains unabated as the evolution of digital assets keeps its course."
It has been for quite some time CoinLive's conviction, now supported by no other than Nicholas Merten from Datadash, that over the next 6 months, markets will start factoring in the event of the year, that is, the approval of a Bitcoin ETF that will serve as a alternative vehicle to accommodate the massive flows of capital leaving some of the traditional asset classes. As Nicholas suggests, the SEC will have little choice but to provide alternative investments.
Bitcoin as a Hedge to Lower Portfolios' Volatility
Last but not least, crypto assets such as Bitcoin and the likes have an almost non-existent correlation to other traditional assets such as stocks, bonds, and commodities, which makes for a very attractive and broadly-applicable diversification strategy for the professional money as it reduces one’s portfolio volatility. The moment a Bitcoin ETF is confirmed, expect the non-correlation element of Bitcoin as a major driving force to attract further capital.
Anyone Can Be Wrong Datadash, But You Won't be Wrong Alone
Having analyzed the hypothesis by Nicholas Merten, at CoinLive we believe that the conclusion reached, that is, the creation of a Bitcoin ETF that will provide shelter to a tsunami of capital motivated by the diversification and store of value appeal of Bitcoin, is the next logical step. As per the timing of it, we also anticipate, as Nicholas notes, that it will most likely be subject to the price action in traditional assets. Should equities and credit markets hold steady, it may result in a potential delay, whereas disruption in the capital market may see the need for a BTC ETF accelerate. Either scenario, we will conclude with a quote we wrote back in March.
"It appears as though an ETF on Bitcoin is moving from a state of "If" to "When."
Datadash is certainly not alone on his 50k call. BitMEX CEO Arthur Hayes appears to think along the same line.
On behalf of the CoinLive Team, we want to thank Nicholas Merten at Datadash for such enlightening insights.
submitted by Ivo333 to BitcoinMarkets [link] [comments]

NiceHash can’t raise your profits - Here is why

Hi guys!
I want to express my view on the evolution of crypto mining and also cryptomarket in general.
The current situation, especially for all the newcomers and newbies to mining that have not seen the fluctuations in the past, can be stressful. This is mainly due to the rise of miners in recent months, increasing difficulties, the number of people buying and selling hashing power, together with the current state of the market, which it seems has entered a bear trend (falling), after the all-time highs back in December, when the market was in a bull trend (rising).
Mining in the case of GPU miners depends on the general PC hardware industry, which is also very cyclical. And since a majority of the people who are mining with GPUs and not ASICs, we can clearly observe, what we could already see in the past. The current generation of GPUs has been out for a few years now and will slowly get upgraded newer cards. It has been almost 2 years since Nvidia released their GTX 1080 and 1 year since the 1080 Ti was released. Now we are patiently waiting for any official information regarding the next generation GPUs, that should be a lot better in terms of performance and hash rate. This will start a new cycle with new market forces.
NiceHash is a marketplace that actually connects buyers and sellers of hashing power, meaning that NiceHash does not determine the profitability and also does not set prices. Everything is based on supply and demand. Profitability itself is determined by the mining profitability of different coins that are mined by buyers of hashing power.
There are a lot of questions on a daily basis, asking why the profitability is low and when will it go up. Note that in terms of mining cryptocurrencies, you are making the same, you are only making less when it comes to the fiat (USD, EUR…). The only way to predict what will happen is to know exactly what the future holds, but I do not dare to make any such predictions knowing the nature of the crypto environment.
I feel that the best way to go right now is mine and HODL all the Bitcoin or other cryptos until the market shifts. For example, let's say you are making 0,00061 BTC/day with NiceHash, which is around $5. The current price of Bitcoin is $8250. If a miner sells all of the Bitcoin daily at that price, that accounts for $150 a month. But if the price of BTC goes back to where it was 2 months ago ($16500), that would mean that the value of holdings has doubled. For all users holding, that would mean that they actually made $300 a month, since they did not sell their Bitcoin when the price was low ($8250). It is an approach that might not be right for everyone, but it has historically been the one that generated more profit.
submitted by AljazNiceHash to NiceHash [link] [comments]

End of day summary - 08/12

The Dow fell 391.00, or 1.49%, to 25,896.44, the Nasdaq lost 95.73, or 1.2%, to 7,863.41, and the S&P 500 declined 35.95, or 1.23%, to 2,882.70.
The stock market fell more than 1% on Monday, as uncertainties about the global economy continued to push investors away from risk assets and into safe-haven assets like U.S. Treasuries and gold. The S&P 500 fell 1.2%, which was comparable to the declines in the Nasdaq Composite (-1.2%) and Russell 2000 (-1.2%). The Dow Jones Industrial Average lost 1.5%.
U.S. corporate and economic news was sparse on Monday, which helped attention focus on the government protests in Hong Kong, the political instability in Italy and Argentina, and the lack of improvement in U.S.-China trade relations. Economists from Goldman Sachs added to the sour mood, stating that they are not expecting a U.S.-China trade deal before the 2020 presidential election.
In other words, Monday featured plenty of negative-minded speculation, although it was understandable given the amount of negative developments around the world and the lack of good news. Perhaps the most startling development in the capital markets was the persistent decline, and compression, in U.S. Treasury yields.
This compression in yields not only hit investor sentiment but was also affected the S&P 500 financials sector (-1.9%), which led all 11 S&P 500 sectors in losses. Banks typically rely on healthy net interest margins to boost profit and facilitate lending activity. The other rate-sensitive sectors -- real estate (-0.3%) and utilities (-0.3%) -- outperformed but still finished lower.
An inversion of the 2-10 spread is widely viewed as a recession indicator, although an inversion does not necessarily predict one.
Markets in Argentina were reeling on Monday after President Mauricio Macri, who is known for being pro-business, lost a primary election on Sunday. Argentina's peso had weakened about 25% against the dollar in early trading amid investor concerns about the potential return to power of Argentina's Peronist movement under Alberto Fernandez and his running mate, former president Cristina Kirchner. Fernandez has pledged to undo many of Macri's market-friendly policies and the surprising primary results has been followed by sharp slides for many stocks linked to Argentina that trade in New York, including MercadoLibre (MELI), Banco Macro (BMA), Despegar.com (DESP), Grupo Financiero Galicia (GGAL), Loma Negra (LOMA), Pampa Energia (PAM), Telecom Argentina (TEO), YPF (YPF) and Arcos Dorados (ARCO).
Among the notable gainers was ROKU, after Needam analyst Laura Martin raised its price target to $150 saying Netflix “has the most to lose. Also higher was AMGN, which gained 6% after a United States District Court judge in New Jersey ruled on Friday in the company's favor in a patent fight with NVS. Shares of MU were on the rise in late trading on Monday as the company's CFO said that "demand has come back".
Meanwhile, CPB was in focus after Sky News reported that Valeo Foods Group is in advanced talks to acquire Campbell's Kettle Foods operations in the U.K. and Ireland. The deal, which could be reached in the coming days, is expected to be worth more than GBP50M, according to Sky. The news comes after Campbell Soup announced earlier this month that it signed an agreement to sell Arnott's and other international operations to KKR for $2.2B in cash.
Additionally, New York Attorney General Letitia James said via Twitter that Oregon has joined her state's lawsuit to block the merger of TMUS and S. James added in the tweet that the coalition involved in the suit includes 16 states. A New York AG spokesperson told Dealreporter last week that the office was in talks with a "handful" of other states that were considering whether to sign onto the lawsuit.
In Asia overnight, stocks were mostly higher, with the China CSI 300 rising 1.8%, while Japan’s Nikkei 225 added 0.4%. Hong Kong’s Hang Seng Index HSI meanwhile lost 0.4%. European stocks were trading lower Monday, down 0.2%, as measured by the Stoxx Europe 600.

Currency

The U.S. dollar index was roughly flat on Monday and sterling and the euro saw a modest rise as the foreign exchange market fell into an August lull, a traditionally quiet trading period with many investors and traders on vacation.

Treasury

U.S. Treasuries spent the Monday session in a steady advance, pressuring the 30-yr yield to a fresh low for the year while the 10-yr yield approached its low from last week. The daylong rally was not fueled by a particular news catalyst but was rather a function of disappointment over the lack of an improvement in the official relationship between China and the United States.
The spread between the 2-yr and 10-yr yields narrowed to six basis points, as demand for longer-dated tenors continued to climb amid growth concerns. The 2-yr yield fell five basis points to 1.58%, and the 10-yr yield fell ten basis points to 1.64%. The U.S. Dollar Index declined 0.1% to 97.43.

Commodity

Oil prices rose on Monday despite worries about a global economic slowdown and the ongoing U.S.-China trade war, which has reduced demand for commodities such as crude.
Corn and soybean futures both fell sharply Monday after the U.S. Department of Agriculture's August production estimates projected larger-than-expected crops following an extremely wet spring that severely delayed corn planting, followed by dry conditions across much of the Midwest. Corn for December delivery CZ19 on the Chicago Board of trade fell 25 cents to $3.9275 a bushel, a decline of 6%. November soybeans SX19 dropped 11.5 cents, or 1.3%, to $8.8075 a bushel. The report estimated that U.S. farmers would produce 13.9 billion bushels of corn, down 4% from last year but larger than analysts had expected. Soybean production is forecast to fall 19% from last year to 3.68 billion bushels.

Crypto

YTD

  • Nas +18.5%
  • Spoos +15.0%
  • Rusell +10.8%
  • Old Man +11.0%

What's tomorrow?

  • Investors will receive the Consumer Price Index for July on Tuesday.
Summary scraped from the interweb. Took 0.11 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

XRP Subreddit Rules, Helpful Links & Answers to Common Questions - READ BEFORE POSTING

You must read our rules before participating in XRP
Helpful links and answers to common questions will be updated frequently so check back often
 
 
Ripple Subreddit Rules
https://www.reddit.com/XRP/wiki/rules
 
Helpful Links
Ripple Insights - Top 9 Frequently Asked Questions About Ripple and XRP (Jan 18, 2018)
Ripple’s Ultimate Strategy; why XRP will increase in value
Removing inefficiency of international payments with XRP
Reasons to expect XRP to be the most popular bridge asset
"XRP is competitive now in the USD/MXN corridor"
Ripple's Decentralization Strategy Update
XRP Market Performance
List of Ripple Partnerships and RippleNet Implementations
 
People to Follow
Ripple on Twitter
Brad Garlinghouse, Chief Executive Officer at Ripple
Yoshitaka Kitao, executive chairman, CEO and president of SBI Holdings, Inc.
David Schwartz, Chief Cryptographer at Ripple | aka u/sjoelkatz
Stefan Thomas, Former CTO at Ripple, Co-creator of Interledger. Founder at Coil
Patrick Griffin, Senior Vice President of Business Development at Ripple
Miguel Vias, Head of XRP Markets at Ripple
Warren Paul Anderson, Product Manager, xRapid/XRP at Ripple
 
Hodor's XRP Blog
TplusZero - research & analysis on #XRP
 
Most Discussed Topics and Answers
● The Case Against BankCoin - Banks need an independent digital asset to enable truly efficient settlement
● Ripple Technology → Fast Payments → XRP → Fast Settlement
● Solving the chicken and egg problem - FI's bridging payments with XRP & companies saving money by holding XRP
● Banks hold XRP under a contractual agreement | Build liquidity to bridge payments to raise the demand for XRP
● How the global adoption of xRapid (XRP liquidity tool) would affect the value of XRP
● Besides instant cross-border payment settlement, XRP can capture other use cases, value that doesn't yet exist
● XRP Ledger has numerous technological advantages over blockchain systems that use proof of work
● Ripple is committed to making the XRP Ledger as decentralized as they possibly can
● Quantum-resistant signature schemes - Adding a new scheme is easy and fast
 
XRP Wallets
You need 20 XRP to activate an XRP wallet. Fees can be changed by the validators through the voting process.
The reserve requirement protects the XRP Ledger from spam or malicious usage.
 
When you are sending XRP to an exchange, destination tag is very important.
Destination tag is not needed when you transfer XRP to your own wallet address.
 
● XUMM by XRPL Labs | Developers
XUMM is a free app (iOS and Android) that makes sending, receiving and interacting with the XRP ledger easy & secure.
 
● Ledger Nano S | Tutorial | FAQ | Buy Online | Ripple Recovery Tool
Cryptocurrency Hardware Wallet
When you get your Ledger wallet, you must reset it and get a new set of 24 words seed before using it.
 
● The World Exchange | How to Create a Cold Wallet for Ripple
A free user-friendly and purely client-side wallet
 
● GateHub | Support | Network Statistics
GateHub XRP Web Wallet
 
Tools
Check XRP wallet balance - Bithomp | Graph | Transactions
Print raw information about an account, a transaction or a ledger - RPC Tool
 
Exchanges
The best way to support XRP is to buy/sell XRP directly with your local currency, not with USDT, ETH, LTC, or BTC.
Available XRP pairs - AUD, BRL, CAD, CNY, EUR, GBP, IDR, INR, JPY, KRW, MXN, PHP, RUB, THB, TRY, UAH, USD, ZAR.
You can find the complete list of XRP exchanges and supported XRP/fiat pairs Here.
 
USD - US Dollar
Kraken | Bitstamp | Bitfinex | CEX.IO | Gatehub |
Exrates | Exmo | Mr. Exchange | Bitsane | Sistemkoin | BitBay | Quoine
 
EUR - Euro
Kraken | Bitstamp | Gatehub | CEX.IO | LiteBit.eu | Anycoin Direct
The Rock Trading | Bitsane | BitBay | BitFlip | Bitlish | Quoine
 
KRW - South Korean Won
Bithumb | Upbit | Coinone | Korbit | GOPAX | Coinrail
 
JPY - Japanese Yen
Kraken | Bitbank | Quoine | Mr. Exchange
 
CNY - Chinese Yuan
RippleFox | Ripple China | Fatbtc
 
TRY - Turkish Lira
Vebitcoin | BTCTurk | Koineks | Sistemkoin | Ovis
 
INR - Indian Rupee
Zebpay | Koinex | Unocoin | Bitbns | BuyBitcoin | BuyUcoin
 
AUD - Australian Dollar
BTC Markets
 
THB - Thai Baht
BX Thailand
 
MXN - Mexican Peso
Bitso
 
IDR - Indonesian Rupiah
Indodax | Quoine
 
RUB - Russian Ruble
Exmo | BitFlip
 
ZAR - South African Rend
Altcoin Trader
 
CAD - Canadian Dollar
Kraken
 
UAH - Ukrainian Hryvnia
Kuna | BTC Trade UA | BitFlip
 
GBP - British Pound
Cryptomate
 
BRL - Brazilian Real
Braziliex
 
SGD - Singapore Dollar
Quoine
 
AED - United Arab Emirates Dirham
BitOasis
 
PHP - Philippine peso
CX | Exchange
 
USDT - Tether
Poloniex | Bittrex | Huobi | OKEx | CoinBene | Upbit | HitBTC |
ZB.com | Gate.io | Sistemkoin
 
ETH - Ethereum
Binance | Bittrex | Gatehub | OKEx | OTCBTC | Upbit | HitBTC |
Bitsane | Mr. Exchange | CoinFalcon
 
LTC - Litecoin
Bitsane | Mr. Exchange
 
BTC - Bitcoin
Kraken | Bitstamp | Bitfinex | CEX.IO | Gatehub | Binance | Poloniex | Bittrex |
HitBTC | OKEx | Upbit | Huobi | BTCTurk | BTC Markets | CoinEgg | Exmo |
ZB.com | OTCBTC | Coinrail | Bits Blockchain | Triple Dice Exchange | Indodax |
Exrates | Qryptos | Gate.io | Bitsane | Bitso | Ovis | BCEX | BitBay |
Mr. Exchange | Orionx | CoinFalcon | Abucoins | BitFlip | LakeBTC | Coinbe
submitted by nvok to XRP [link] [comments]

Mining profitability is low - Here is why

Hi guys!
I want to express my view on the evolution of crypto mining and also cryptomarket in general.
The current situation, especially for all the newcomers and newbies to mining that have not seen the fluctuations in the past, can be stressful. This is mainly due to the rise of miners in recent months, increasing difficulties, together with the current state of the market, which it seems has entered a bear trend (falling), after the all-time highs back in December, when the market was in a bull trend (rising).
Mining in the case of GPU miners depends on the general PC hardware industry, which is also very cyclical. And since a majority of the people who are mining with GPUs and not ASICs, we can clearly observe, what we could already see in the past. The current generation of GPUs has been out for a few years now and will slowly get upgraded newer cards. It has been almost 2 years since Nvidia released their GTX 1080 and 1 year since the 1080 Ti was released. Now we are patiently waiting for any official information regarding the next generation GPUs, that should be a lot better in terms of performance and hash rate. This will start a new cycle with new market forces.
There are a lot of questions on a daily basis, asking why the profitability is low and when will it go up. Note that in terms of mining cryptocurrencies, you are/should be making the same, you are only making less when it comes to the fiat (USD, EUR…). The only way to predict what will happen is to know exactly what the future holds, but I do not dare to make any such predictions knowing the nature of the crypto environment.
I feel that the best way to go right now is mine and HODL all the Bitcoin or other cryptos until the market shifts. For example, let's say you are making 0,01 ETH/day, which is around $5-6. The current price of Ethereum is $570. If a miner sells all of the Bitcoin daily at that price, that accounts for around $150 a month. But if the price of ETH goes back to where it was 2 months ago ($1100), that would mean that the value of holdings has doubled. For all users holding, that would mean that they actually made $300 a month, since they did not sell their Ethereum when the price was low ($570). It is an approach that might not be right for everyone, but it has historically been the one that generated more profit.
submitted by AljazNiceHash to cryptomining [link] [comments]

Cryptocurrency Weekly Recap

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Chart analysis ETH & BTC, 25.3.2017 - "The Flippening"

Hey dear ethtraders (and BitcoinMarket traders)!
In this post I am going to provide my take on the current market from a Technical Analysis (TA) point of view. My general impression is that many (if not most?) of you do not "believe" in TA, but rather think that one should trade based upon Fundamentals only. However, the success rate of this methodology should be measured in bear markets as well. In such cases, disregarding TA yields worse results because many fail to minimize their exposure in bear markets.
Those who are new to cryptomarkets and don't believe me, should take a look at the charts of the previous ETH bear market, which started in September last year - immediately after phenomenal news has been revealed during DevCon 2 in September! As unbelievable as it sounds, the price fell below 6$ in December until it finally stabilized. The important part about this is that it is not possible to predict such bearish periods using Fundamentals only. Many who have considered themselves as "holders" have sustained severe losses during this period of time, blinded by great Fundamentals of Ethereum. Some who credited themselves as holders have even sold ETH pretty much at the bottom.
If you think that a bear market (or a strong down correction) is impossible at this point, let me assure you that this belief is the psychological result of the green candles you have got complacent with. If you are new to Ethereum, you are likely in profit and you are used to be in profit because you were introduced as part of a new wave of money, which is typical for strong bull markets. You, newcomer, are part of the reason why we are having all those green-colored charts! By the same implicitness, believe it or not, people used to refer to Bitcoin as "store of value" and "digital gold", discounting the fact that Bitcoin was simply bullish and thus increased in value. These name tags were mere side effects of the elevated sentiment during bull markets. All the fundamental problems it has now were present last year, but were not reflected by market movement. It was basically the contrast to the ETH bear market in Fall 2016!
So, how does TA help? Basically, according to TA, you make a quantified plan to control your exposure to the market. You want to quantify your risk and your reward at any state of the market. To do this, you extract information looking at price charts. Since it is preferential and complex, I will not talk about risk/reward setups and money management here, but will simply provide my perspective on the current charts. I will focus only on the dominant forces in this market, BTC and ETH. I think the rest of the altcoin market pretty much follows ETH (and DASH) with a lag, so everything else is as bullish as ETH. Whether you believe that "The Flippening" will happen (soon) or not, having some ideas on how to minimize risk in an overbought market could prove useful.
For chart analysis, I like to use an ADX & RSI & Bollinger Bands setup as my primary trading system, so I will talk in this context. However, I think it is easy to see similar patterns in many trading setups (MACD, StochRSI, Ichi clouds, etc). You may as well use two Moving Averages and outperform a lot of traders long-term - a simple system, but it can work extremely well. I also like to keep it simple in terms of patterns - you won't see many triangles in my charts. In my opinion, TA trading systems are purely stylistic and the core of success is discipline and patience.
BTC/EUR
https://i.imgur.com/DCgxVhB.png
I would like to introduce this daily chart by showing the crucial incision point after the day of the ETF rejection, March 12th (1). We see a beautiful interplay between Fundamentals & TA, where the price went down immediately due to the rejection, but recovered the days after for purely technical reasons! After a few days, the trend, measured by the ADX (2, red curve), turned bearish and since that we see a very decisive down move, where in my eyes ~840€ and ~750€ are the two ultimate support lines. I think the lower one should be tested with an oversold daily RSI (3) and then stabilize in-between both support regions for a while.
ETH/EUR
https://i.imgur.com/y1HjoJ0.png
I am sometimes undecided whether to look at BTC/ETH or ETH/fiat. Movements within the cryptospace should be measured via BTC/ETH, but I think new money going to ETH is what is driving our current bull trend, hence I consider ETH/fiat as more relevant. For more in-depth TA trading, both charts are important.
The two focal points in this chart are the two tops (1a, 1b), which I consider as temporary tops for now. In my opinion we are currently seeing a bearish divergence, visible on the 4H charts (and even clearer, on the daily) with a weakening RSI (2). In my opinion we could go a bit higher in low volume, maybe a spike to above 60€ with lower momentum. A strong support in my opinion can be found in the 37€-39€ area. Bearish news (yes, such things exist!) could bring us down to the 25-27€ range, but for now I think it is unlikely. The trend, measured by ADX (3, red curve) is still bullish, albeit weaker than during the first top. This usually means that we are looking to consolidate, but it is unclear where this could happen, so I expect more price discovery (up) with receding momentum in the next days/weeks.
The rest
Going long into altcoins now yields less-than-good risk/rewards and I think that DASH should slowly but clearly find some downside, but predictions are difficult to make here. I think if ETH and/or DASH breaks, lower caps should follow to some extent.
submitted by kustonoy to ethtrader [link] [comments]

Mining profitability is low - Here is why

Hi guys!
I want to express my view on the evolution of crypto mining and also cryptomarket in general.
The current situation, especially for all the newcomers and newbies to mining that have not seen the fluctuations in the past, can be stressful. This is mainly due to the rise of miners in recent months, increasing difficulties, together with the current state of the market, which it seems has entered a bear trend (falling), after the all-time highs back in December, when the market was in a bull trend (rising).
Mining in the case of GPU miners depends on the general PC hardware industry, which is also very cyclical. And since a majority of the people who are mining with GPUs and not ASICs, we can clearly observe, what we could already see in the past. The current generation of GPUs has been out for a few years now and will slowly get upgraded newer cards. It has been almost 2 years since Nvidia released their GTX 1080 and 1 year since the 1080 Ti was released. Now we are patiently waiting for any official information regarding the next generation GPUs, that should be a lot better in terms of performance and hash rate. This will start a new cycle with new market forces.
There are a lot of questions on a daily basis, asking why the profitability is low and when will it go up. Note that in terms of mining cryptocurrencies, you are/should be making the same, you are only making less when it comes to the fiat (USD, EUR…). The only way to predict what will happen is to know exactly what the future holds, but I do not dare to make any such predictions knowing the nature of the crypto environment.
I feel that the best way to go right now is mine and HODL all the Bitcoin or other cryptos until the market shifts. For example, let's say you are making 0,01 ETH/day, which is around $5-6. The current price of Ethereum is $570. If a miner sells all of the Bitcoin daily at that price, that accounts for around $150 a month. But if the price of ETH goes back to where it was 2 months ago ($1100), that would mean that the value of holdings has doubled. For all users holding, that would mean that they actually made $300 a month, since they did not sell their Ethereum when the price was low ($570). It is an approach that might not be right for everyone, but it has historically been the one that generated more profit.
submitted by AljazNiceHash to gpumining [link] [comments]

crashing global financial markets impact on bitcoin price?

Hi all,
You guys that look at fundamentals surely must have wondered what the impact of the next global financial crisis will be..... these go in cycles and the next one is due now. This time central banks are going to get caught with their pants down with interest rates at close to 0 or even below (lol Europe negative rate bonds)
Weather its next week, next month or next year the consensus is growing that the merry go round of endless free money is going to come to an end at some point. It doesnt matter how you extrapolate the trend it ends badly the only question is when.
Obviously in traditional times the wealthy have turned to gold as their store of value of choice but is bitcoin really an alternative yet?
Personally I think its likely that governments will raid not just their citizens bank accounts but also their safety deposit box's and and gold bullion held in a 3rd party vaults. Central banks have been trying to repatriate their gold for years http://www.silverdoctors.com/gone-gold-the-powerful-story-of-global-gold-repatriation/
Much of it is missing but nowon can admit it because they cant afford to have it wiped off their balance sheets (need something as collateral)
Obviously most people cant stuff ounces of gold under their mattress, bitcoin seems like a possible alternative except the technology is not ready for mainstream adoption by a long way. Its developing rapidly though.
The recent pump to $317 coincided with the Greek debt crisis which is far from over seeing as both the head finance minister and prime minister have both stepped down now. The greeks will probably vote in an anti-austerity person again as they don't like their idea of the ECB taking their state assets (Islands, ancient artifacts, utilities companies etc) in exchange for 50bn EUR (they are currently printing 60bn pcm under the guise of QE)
So the question is, organically or because of speculators what will a global financial crisis do to the price? Has anyone made any predictions based on that?
there is supposedly over $220 trillion thats $220,000,000,000,000 in the world and there will only ever be 21,000,000,000 BTC, and that doesnt count the countless lost forever or coins that are not mined yet. if 1% of the worlds wealth ($220 billion) was held in bitcoin it would be priced at approx $10476 even 0.1% is $1047.6 each
submitted by CleaverUK to BitcoinMarkets [link] [comments]

Subreddit Stats: Vechain top posts from 2017-10-25 to 2018-11-27 12:36 PDT

Period: 397.81 days
Submissions Comments
Total 1000 56541
Rate (per day) 2.51 142.01
Unique Redditors 464 7342
Combined Score 206440 328741

Top Submitters' Top Submissions

  1. 22577 points, 69 submissions: noah_vechain
    1. VeChain passes the first ever Cryptocurrency Disaster Recovery Plan from PwC (1142 points, 124 comments)
    2. VeChain Signs A Partnership Agreement With Yida Group’s IT Management division, Yida Future (849 points, 174 comments)
    3. VeChain partners with Australian based 188 Business Alliance Association (787 points, 117 comments)
    4. VeChain’s First Official Public Infrastructural Decentralized Application — VeVID (695 points, 121 comments)
    5. VeChain partners with iTaotaoke to bring intellectual property protection to content creators. (608 points, 118 comments)
    6. VeChain Signs a Partnership with Bright Foods and its IT/Tech subsidiary Shanghai Xiandao Food to integrate blockchain technology into Bright Foods (Group) Co.'s internal management systems (605 points, 167 comments)
    7. Introducing VeChain’s Drug and Vaccine Traceability Solution (560 points, 282 comments)
    8. VeChain pledges 50M VET to create the X Series Node Program (559 points, 546 comments)
    9. VeChain adding publication industry capability and partners with Hubei Sanxin Cultural Media Ltd. (498 points, 60 comments)
    10. An open letter from Sunny Lu (CEO) on VeChainThor Platform (492 points, 123 comments)
  2. 6682 points, 40 submissions: skythe4
    1. [NASDAQ] VeChain Announces Blockchain Vaccine Tracing Solution for China (497 points, 74 comments)
    2. We are excited to announce that @Decent_Bet will be the first of many projects to migrate and release their mainnet on the VeChainThor Blockchain. We look forward to the rapid expansion of VeChain Ecosystem. (323 points, 46 comments)
    3. Wow @vechainofficial ! Is this real? Is this a test for H&M? One of our members ordered this beanie https://www.arket.com/en_eumen/bags-accessories (309 points, 147 comments)
    4. Please view our VeChainThor Wallet Manual. This manual provides instructions for token swaps and X Node migration. The final X Node snapshot of the Ethereum chain is taking place in 20 mins. On August 1st, the VeChainThor X Node monitoring will resume. (271 points, 156 comments)
    5. $VET putting their NFC chips in meetup goodies. The t-shirt chip is as big as a shirt button. Through a future hardware update, the luggage tag will allow you to check the location of your luggage at any time, recording airport & airline details and ensuring luggage safety. #NFC (262 points, 47 comments)
    6. INPI Asia and ITP have signed an exclusive deal with Jakarta's national government and private sectors. These entities validate data and documents via the VeChainThor Blockchain using their proprietary dApps KryptoCloud, DocKrypto, and KryptoMobile. (249 points, 121 comments)
    7. [DNV GL] Proud to partner with @vechainofficial , @BYDCompany and other leading Chinese businesses on #sustainable solutions for the future! Today @RemiEriksen signed an agreement on a #blockchain-based #carbon banking #ElectricVehicle #EV ecosystem. (242 points, 30 comments)
    8. The Reason why VeChain is far ahead of its Competition (215 points, 84 comments)
    9. VeChain Showcases Multiple Solutions at the First Inaugural China International Import Expo (192 points, 17 comments)
    10. Mark Ong of SBTG, famous for customising shoes for the likes of Kobe Bryant and Linkin Park's Mark Shinoda, will be showcasing #vechain #authenticity technology at Street Superior's Brand Showcase in Singapore this weekend @vechainofficial (189 points, 37 comments)
  3. 5656 points, 20 submissions: GreatWhiteSharkCIA
    1. VeChain Reddit Community hits 20,000 Redditors - Thank you all for your continued support! (664 points, 55 comments)
    2. The Mathematical Institute at Oxford University has officially joined the VeResearch program (592 points, 90 comments)
    3. As a community, we grow stronger - 40,000 and counting. Thank you for being a part of something special and for all your support! (548 points, 41 comments)
    4. 15,000 Redditors and counting, thank you all for your support! (399 points, 32 comments)
    5. Congratulations Reddit - 45,000 Redditors subscribed to /VeChain (384 points, 27 comments)
    6. Thank you for your continued support as our community grows to 50,000 Subredditors - here's to our continued success (315 points, 58 comments)
    7. @BitOcean_JP, one of the first cryptocurrency ATM solutions licensed by Japan's FSA, teams up with #VeChain. We are honored to continue building the world’s first ATM powered fiat payment application ecosystem on the blockchain alongside BitOcean. (269 points, 42 comments)
    8. DNV GL and VeChain Facebook Live Q&A - 24th Jan (256 points, 64 comments)
    9. Welcome to /VeChain (252 points, 0 comments)
    10. VeChain is the fastest growing community on Coinmunity! (225 points, 20 comments)
  4. 4532 points, 23 submissions: CryptopherWalken
    1. The cryptocurrency ban is over. Please be mature, responsible and judicious. (584 points, 53 comments)
    2. NYC Meetup - Full Summary! (445 points, 69 comments)
    3. BYD tweets at Vitalik, quotes him, and points to VeChain as " the real world application for blockchain we've all been waiting for." (359 points, 127 comments)
    4. NYC Meetup Update (248 points, 154 comments)
    5. Phil Hellmuth on Twitter: "Flying into Vegas for the day to chill w VEN (VEChain) CEO and Founder @SunshineLu24 and DBet CEO and Founder @JedidiahTaylor, flying out at 9:30 PM" (231 points, 74 comments)
    6. Crypto_Ed_NL on Twitter: "I have a good feeling about a new prediction..... If $VEN gets all done what they are planning, I expect them to surpass ETH within a year from now." (215 points, 199 comments)
    7. VeChain Mentioned in November issue of Motortrend magazine! (200 points, 19 comments)
    8. Sunny Lu re Drug and Vaccine Solution: “Bigger than you think” (184 points, 61 comments)
    9. Kevin Feng: "GDPR is apparently the hottest topic among our EU clients and government departments. In the past 12 months, VeChain has been working closely with professional service firms to assess and enhance our solutions and internal controls to comply with global regulations." (177 points, 9 comments)
    10. Sarah, VeChain Singapore Manager: "T- 1 day! Extremely excited @vechainofficial is one of 30 startups selected for the LVMH innovation award #GoVeChain #VeChainThor #LVMHTech #FutureofLuxury #Blockchain #VivaTech" (167 points, 51 comments)
  5. 3000 points, 17 submissions: Stockton_Slap209
    1. Rebrand Date IMPORTANT (365 points, 123 comments)
    2. Yicai Global retweets PBoC Rumor (310 points, 202 comments)
    3. Holy Sh%&t. Have you guys seen who are CTO is? (257 points, 70 comments)
    4. VeChain mentioned on Today! Bullish! (238 points, 27 comments)
    5. 1,000,000 clauses on VeChainThor mainnet! Milestone reached! (210 points, 103 comments)
    6. The entire milk section of this convenience store (and every other of this brand) is Bright Foods (光明) Do not underestimate the size of this partnership $VET $VTHO (194 points, 16 comments)
    7. VeChain Partners With Xiamen Innov Information Technology Co. LTD (Innov) (183 points, 41 comments)
    8. Hello. I am the VeChain Tipbot. (24h public testnet beta) (152 points, 34 comments)
    9. Sneak peak at the Blockchain in Action.... THOR (145 points, 30 comments)
    10. Check out this SBTG video! Spread it like wildfire and show the true power of the VeChain community!! (132 points, 27 comments)
  6. 2877 points, 12 submissions: B5SF
    1. VeChain Twitter: It's a great honor to meet Alexander De Croo, Deputy Prime Minister of Belgium [...] (503 points, 101 comments)
    2. DNV GL partners with blockchain expert VeChain to increase transparency from the factory to the consumer (462 points, 109 comments)
    3. Introducing VeChain’s CTO Gu Jianliang to the Community (394 points, 61 comments)
    4. BYD Auto - Gobal Developers Conference (Sep 5th) - VeChain's CEO Sunny Lu attending (271 points, 92 comments)
    5. Cyprus to collaborate with VeChain Foundation and CREAM for fintech, blockchain development in Cyprus (247 points, 76 comments)
    6. The Coca Cola Kid on Twitter - "Is it time?" (213 points, 102 comments)
    7. VeChain Partners with Shanghai Gas and ENN to Pilot Blockchain-Enabled Liquified Natural Gas Solution (202 points, 7 comments)
    8. China orders banks to stop financing cryptocurrencies & plans his own digital currency (140 points, 225 comments)
    9. At 8:00 on January 4, 2018, the founder of Vechain, Lu Yang, will make a breakthrough in technological transformation at the live-streaming "China-US Blockchain Broadcasting Group" (138 points, 70 comments)
    10. Sunny Lu: Ladies and gentlemen, welcome onboard to VeChain Airline. Please fasten your seat belt and we are about to take off soon. (125 points, 59 comments)
  7. 2645 points, 19 submissions: Roc_Raida
    1. WATCH NOW: Advancements with Ted Danson (CNBC) Blockchain with VeChain (324 points, 62 comments)
    2. VeChain's Tech Deep Dive Series - Session 1, Episode 4: Introduction to Sensor and Smart Chips (189 points, 16 comments)
    3. Check Your VeChainThor Wallets ;) (187 points, 107 comments)
    4. You Can Now See Your New VET Balance on Binance ! (165 points, 146 comments)
    5. BMW Startup Garage Retweets Jerome Speaking at BMW Group IT Tech Demo Day (160 points, 17 comments)
    6. SPOTTED: OceanEX & VeChain Sign (149 points, 43 comments)
    7. Morpheus Labs onboards a renowned Blockchain — VeChain (135 points, 21 comments)
    8. Invest Cyprus Tweets the signing of an MoU with VeChain and CREAM (133 points, 22 comments)
    9. Cycling for carbon credits - Remi Eriksen (DNV GL Group President and CEO) (132 points, 18 comments)
    10. PLAIR (PLA) Now Featured in VeChainThor Wallet ! (120 points, 63 comments)
  8. 2550 points, 16 submissions: born2net4
    1. Circle-X and VeChain's Blockchain-X... (290 points, 99 comments)
    2. VeChainThor Wallet User Manual & X Node Binding & Token Swap Guide (287 points, 88 comments)
    3. Chinese President Xi Jinping calls blockchain a 'breakthrough' technology (238 points, 15 comments)
    4. Ethereum Billionaire Looks to China for Next Big Crypto Winners (VeChain baby) (210 points, 32 comments)
    5. Pharma Giant Merck Eyes Blockchain for Fighting Counterfeit Meds (201 points, 42 comments)
    6. Your take on Sunny's live stream... (167 points, 163 comments)
    7. Hardest working guy in Crypto, Sunny Lu! (138 points, 17 comments)
    8. BoxMining meets Sunny Lu (128 points, 4 comments)
    9. VeChainThor connection to testnet video tutorial (my first video on VeChain dev) (123 points, 11 comments)
    10. To Da Moon, check it out..... cool stuff!!!! (117 points, 22 comments)
  9. 2243 points, 11 submissions: Deaf_null
    1. Binance needs to lower VEN transaction fees, let’s act as a community. What can we do? (384 points, 52 comments)
    2. Vechain ready to rock crypto-market with rebrand (325 points, 53 comments)
    3. 3 Reasons why to buy Vechain in 2018 (246 points, 41 comments)
    4. Vechain has a bright future ahead. (237 points, 53 comments)
    5. VeChain, QTUM, HPB and Metaverse partner with CPChain to revolutionise IoT in China (188 points, 36 comments)
    6. Vechain Bullrun vid. (174 points, 41 comments)
    7. Best alternatives to Bitcoin? Vechain #4 (165 points, 24 comments)
    8. BREYER Bullish on VEN (149 points, 4 comments)
    9. Vechain’s Blockchain-as-a-service seeks to stop product counterfeiters (130 points, 7 comments)
    10. CHINESE OFFICIAL: NEW REGULATIONS FOR 2018 MAY END ICO BAN? (124 points, 26 comments)
  10. 2240 points, 8 submissions: patek_
    1. We are Trending on the Frontpage - Dont forget to upvote! VeChain’s Latest Partnership (565 points, 29 comments)
    2. Chinese Goverment Bullish News on Crypto - Expect a Boost for China Coins (356 points, 67 comments)
    3. Why I believe Vechain could reach $100 in 2018. (308 points, 247 comments)
    4. Breyer Capital and Vechain (291 points, 44 comments)
    5. Reminder: Jim Breyer VeChain Advisor (264 points, 45 comments)
    6. VeChain Thor Positioning To Become The #1 Enterprise dApp Platform, And Here’s Why - A Systems Analyst’s Perspective (172 points, 4 comments)
    7. “VeChain - The Future of Blockchain in China” (155 points, 29 comments)
    8. VeChain Rebranding Coming Soon! (129 points, 35 comments)

Top Commenters

  1. lol_and_behold (3848 points, 442 comments)
  2. ohredditplease (3525 points, 524 comments)
  3. Lurks_no_longer (3085 points, 189 comments)
  4. hungryforitalianfood (2821 points, 501 comments)
  5. waylandsphere (2585 points, 884 comments)
  6. SolomonGrundle (2582 points, 339 comments)
  7. Camsy34 (2556 points, 229 comments)
  8. born2net4 (2045 points, 168 comments)
  9. Crypto-knowdeway (1979 points, 164 comments)
  10. Bacon_Hero (1966 points, 293 comments)

Top Submissions

  1. VeChain will partner with Fanghuwang, one of the fastest growing online lending platforms in China with $3.3bn AUM. With this partnership, VeChain Thor solves major problems within one of the largest global industries. by deleted (1352 points, 278 comments)
  2. VeChain announced working with BMW by suf0x (1292 points, 295 comments)
  3. VeChain passes the first ever Cryptocurrency Disaster Recovery Plan from PwC by noah_vechain (1142 points, 124 comments)
  4. Sunny Lu came into the VeChain telegram chat to address the FUD rumours about the tokenomics (in-house suppression, dumping, etc.) by deleted (1086 points, 182 comments)
  5. VeChain mods removed a legitimate criticism to VeChain. It cant always be happy rainbows and sunshine. We need to hear and discuss all the sides. Here is the text that was removed by them. by CoinStarX (1076 points, 126 comments)
  6. Vechain Partners with Tobacco by Castomere (994 points, 272 comments)
  7. VeChain Signs A Partnership Agreement With Yida Group’s IT Management division, Yida Future by noah_vechain (849 points, 174 comments)
  8. At exactly 08:00:09 the first block was successfully mined. The VeChainThor Blockchain has officially launched by Yes-Lawd (799 points, 324 comments)
  9. VeChain partners with Australian based 188 Business Alliance Association by noah_vechain (787 points, 117 comments)
  10. VeChain introduces VeResearch, a global innovation research grant program formed by research professionals to integrate blockchain into new and emerging technologies by Moussa93 (781 points, 143 comments)

Top Comments

  1. 355 points: Criptolete's comment in Just visited VeChain offices in Shanghai: got my hoodie and nice info for you!
  2. 299 points: Crypto078's comment in A message from Sunny Lu: STOP ASKING VECHAIN PARTNERS FOR MORE INFO
  3. 275 points: deleted's comment in VeChain mods removed a legitimate criticism to VeChain. It cant always be happy rainbows and sunshine. We need to hear and discuss all the sides. Here is the text that was removed by them.
  4. 255 points: eimajine1's comment in VET in september ;-)
  5. 249 points: Lurks_no_longer's comment in cryptocurrency mods have banned Vechain posts for a month
  6. 232 points: KMcCaig's comment in Sunny Lu came into the VeChain telegram chat to address the FUD rumours about the tokenomics (in-house suppression, dumping, etc.)
  7. 229 points: dotbomb_jeff's comment in VECHAIN can't say this, so I will...(X Node RANT)
  8. 223 points: deleted's comment in New Coca Cola Kid post
  9. 211 points: icculus2001's comment in What are your concerns?
  10. 199 points: catdeuce's comment in There's only one survivor of this year's cryptocurrency slaughter: VeChain
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

J.P. Morgan Early Look at the Market – Mon 10.16.17 - **PLEASE DO NOT FORWARD THIS DOCUMENT**

J.P. Morgan Early Look at the Market – Mon 10.16.17

SEC DISCLAMIER: PLEASE DO NOT FORWARD THIS DOCUMENT

Morning Levels

Trading Update

Top Headlines for Monday

Catalysts – big events to watch over the coming months

Full catalyst list

  • Wed Oct 18 – Fed speakers: Dudley, Kaplan.
  • Wed Oct 18 – US housing starts for Sept. 8:30amET.
  • Wed Oct 18 – US building permits for Sept. 8:30amET.
  • Wed Oct 18 – US Beige Book. 2pmET.
  • Wed Oct 18 – earnings before the open: ABT, Akzo Nobel, ASML, MTB, MTG, NTRS, Reckitt Benckiser, SVU, USB
  • Wed Oct 18 – earnings after the close: AA, AXP, BDN, BHE, BXS, CCI, CCK, EBAY, GHL, HXL, KALU, LLNW, SLG, SLM, STLD, TCBI, URI.
  • Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
  • Thurs Oct 19 – US Leading Index for Sept. 10amET.
  • Thurs Oct 19 – earnings before the open: ADS, BBT, BK, BX, DGX, DHR, DOV, GPC, KEY, Nestle, NUE, Pernod Ricard, Philips Lighting, PM, PPG, Publicis, RCI, Roche, SAP, SNA, SON, Thales, TRV, TSMC, TXT, Unilever, VZ, WBC, WGO.
  • Thurs Oct 19 – earnings after the close: ASB, ATHN, ETFC, ISRG, LHO, MXIM, NCR, PBCT, PFPT, PYPL, WDFC, WERN.
  • Fri Oct 20 – BOJ’s Kuroda speaks. 2:30amET.
  • Fri Oct 20 – US existing home sales for Sept. 10amET.
  • Fri Oct 20 – Yellen speaks to National Economists Club in Washington. 7:15pmET.
  • Fri Oct 20 – earnings before the open: Assa Abloy, BHGE, CFG, CLF, Daimler, DST, GE, GNTX, HON, InterContinental Hotels, KSU, MAN, PG, SLB, STI, SYF, TomTom, Volvo.
  • Mon Oct 23 – China Sept property prices (Sun night/Mon morning).
  • Mon Oct 23 – US Chicago Fed Activity Index for Sept. 8:30amET.
  • Mon Oct 23 – earnings before the open: HAL, HAS, ITW, KMB, LII, Philips, STT, STX, VFC
  • Mon Oct 23 – earnings after the close: ARNC, CR, JBT, OI, ZION.
  • Tues Oct 24 – Eurozone flash PMIs for Oct. 4amET.
  • Tues Oct 24 – ECB bank lending survey. 4amET.
  • Tues Oct 24 – US flash PMIs for Oct. 9:45amET.
  • Tues Oct 24 – earnings before the open: AMTD, Anglo American, BASF, BIIB, CAT, CLB, CNC, CVLT, ETR, Fiat Chrysler, FITB, GLW, GM, INFY, IPG, LLY, LMT, MAS, MCD, MMM, Novartis, PCAR, PHM, PNR, R, RF, SAH, SHW, SWK, UTX, WAT, WDR.
  • Tues Oct 24 – earnings after the close: AKAM, AMP, AXS, Canadian National Railway, CMG, COF, CYBE, DFS, ESRX, HLI, IRBT, IRM, MANH, NUVA, RGC, T, TSS, TXN.
  • Wed Oct 25 – US durable goods for Sept. 8:30amET.
  • Wed Oct 25 – US FHFA home price index for Aug. 9amET.
  • Wed Oct 25 – US new home sales for Sept. 10amET.
  • Wed Oct 25 – Bank of Canada rate decision. 10amET.
  • Wed Oct 25 – Brazilian rate decision (after the close).
  • Wed Oct 25 – earnings before the open: ALK, ALLY, ANTM, Antofagasta, AOS, APH, BA, BAX, BTU, Capgemini, Dassault Systemes, DPS, FCX, FLIR, Fresnillo, HBAN, Heineken, IP, IR, KO, LEA, LH, Lloyds Banking Group, NDAQ, NSC, NYCB, OC, Peugeot, SIRI, SLAB, TMO, TUP, V, WBA, WEC, WYN.
  • Wed Oct 25 – earnings after the close: ABX, ACGL, AFL, AMGN, CA, CLGX, DLR, FFIV, FNF, FTI, KIM, LSTR, MC, MLNX, NOW, NXPI, ORLY, PKG, PLXS, RJF, SSNC, TSCO, TYL, UNM, VAR, WCN, XLNX.
  • Thurs Oct 26 – Riksbank decision. 3:30amET.
  • Thurs Oct 26 – ECB rate decision. 7:45amET press release, 8:30amET press conf.
  • Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
  • Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
  • Thurs Oct 26 – US pending home sales for Sept. 10amET.
  • Thurs Oct 26 – earnings before the open: ABB, ABX, Aixtron, ALLE, ALV, Anheuser Busch, APD, Bayer, BEN, BMS, BMY, BSX, BWA, CCMP, CELG, CHTR, CMCSA, CME, COP, Deutsche Bank, ENTG, EQT, EXLS, F, GNC, HLT, HSY, LUV, MMC, MKC, NEM, Nokia, OAK, ODFL, PX, Santander, Schneider Electric, SPGI, STM, TWTR, UNP, UPS, VC, VNTV, WM, XEL, XRX.
  • Thurs Oct 26 – earnings after the close: AIV, ATEN, CB, CDNS, CENX, CLS, EXPE, FLEX, FTNT, FTV, GILD, GOOG, HIG, INTC, LPLA, MAT, MSFT, NATI, PFG, PRO, SGEN, SIVB, SYK, VDSI, VRSN.
  • Fri Oct 27 – China Sept industrial profits (Thurs night/Fri morning).
  • Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
  • Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
  • Fri Oct 27 – earnings before the open: B, MRK, PSX, SC, TRU, Volkswagen, WY, XOM.
  • Mon Oct 30 – US personal income/spending and PCE for Sept. 8:30amET.
  • Mon Oct 30 – US Dallas Fed index for Oct. 10:30amET.
  • Mon Oct 30 – analyst meetings: CSX
  • Mon Oct 30 – earnings before the open: HSBC
  • Mon Oct 30 – earnings after the close: AVB, CGNX, RE, RTEC, VNO
  • Tues Oct 31 – BOJ rate decision (Mon night/Tues morning).
  • Tues Oct 31 – US Employment Cost Index for Q3. 8:30amET.
  • Tues Oct 31 – US Case-Shiller home price index for Aug. 9amET.
  • Tues Oct 31 – US Chicago PMI for Oct. 9:45amET.
  • Tues Oct 31 – US Conference Board Sentiment readings for Oct. 10amET.
  • Tues Oct 31 – earnings before the open: ADM, AET, Airbus, AMT, Barclays, BNP, CMI, ECL, FIS, GGP, K, MA, OSK, PFE, XYL.
  • Tues Oct 31 – earnings after the close: APC, CHRW, CXO, PLT, WFT, X
  • Wed Nov 1 – US ADP jobs report for Oct. 8:15amET.
  • Wed Nov 1 – US Markit Manufacturing PMI for Oct. 9:45amET.
  • Wed Nov 1 – US Manufacturing ISM for Oct. 10amET.
  • Wed Nov 1 – US construction spending report for Sept. 10amET.
  • Wed Nov 1 – US auto sales for Oct.
  • Wed Nov 1 – FOMC meeting decision. 2pmET.
  • Wed Nov 1 – earnings before the open: AGN, APO, CEVA, CLX, EL, GRMN, HFC, LFUS, Novo Nordisk, ORBK, Standard Chartered, TAP, TRI.
  • Wed Nov 1 – earnings after the close: ALL, BHF, BXP, CACI, CAVM, CSGS, EGOV, FB, LNC, MANT, MET, MUSA, OXY, PRU, QCOM, ULTI, XPO.
  • Thurs Nov 2 – BOE rate decision. 8amET.
  • Thurs Nov 2 – US nonfarm productivity and unit labor costs for Q3. 8:30amET.
  • Thurs Nov 2 – earnings before the open: ADP, AN, BCE, CI, Credit Suisse, DISCA, H, ICE, LDOS, Royal Dutch Shell, Sanofi, Swiss Re, WRK.
  • Thurs Nov 2 – earnings after the close: AAPL, AIG, ATVI, CBS, CRUS, FLR, HLF, JCOM, RMAX, SBUX, UNIT.
  • Fri Nov 3 – US jobs report for Oct. 8:30amET.
  • Fri Nov 3 – US trade balance for Sept. 8:30amET.
  • Fri Nov 3 – US factory orders and durable goods orders for Sept. 10amET.
  • Fri Nov 3 – US non-manufacturing ISM for Oct. 10amET.
  • Mon Nov 6 – Fed’s Dudley speaks at The Economist Club of New York.
  • Tues Nov 7 – RBA rate decision. Mon night/Tues morning.
  • Tues Nov 7 – US JOLTs jobs report for Sept. 10amET.
  • Tues Nov 7 – US consumer credit for Sept. 3pmET.
  • Thurs Nov 9 – US wholesale trade sales/inventories for Sept. 10amET.
  • Fri Nov 10 – US Michigan Confidence preliminary numbers for Nov. 10amET.
  • Tues Nov 14 – US PPI for Oct. 8:30amET.
  • Wed Nov 15 – US CPI for Oct. 8:30amET.
  • Wed Nov 15 – US Empire Manufacturing for Nov. 8:30amET.
  • Wed Nov 15 – US retail sales for Oct. 8:30amET.
  • Wed Nov 15 – US business inventories for Sept. 10amET.
  • Thurs Nov 16 – US import prices for Oct. 8:30amET.
  • Thurs Nov 16 – US industrial production for Oct. 9:15amET.
  • Thurs Nov 16 – US NAHB housing index for Nov. 10amET.
  • Fri Nov 17 – US housing starts and building permits for Oct. 8:30amET.
  • Mon Nov 20 – US Leading Index for Oct. 10amET.
  • Tues Nov 21 – US existing home sales for Oct. 10amET.
  • Wed Nov 22 – US durable goods for Oct. 8:30amET.
  • Wed Nov 22 – US final Michigan Confidence numbers for Nov. 10amET.
  • Wed Nov 22 – FOMC 11/1 meeting minutes. 2pmET.
  • Fri Nov 24 – US flash PMIs for Nov. 9:45amET.
J.P. Morgan Market Intelligence is a product of the Institutional Equities Sales and Trading desk of J.P. Morgan Securities LLC and the intellectual property thereof. It is not a product of the Research Department and is intended for distribution to institutional and professional customers only and is not intended for retail customer use. It may not be reproduced, redistributed or transmitted, in whole or in part, without J.P. Morgan’s consent. Any unauthorized use is strictly prohibited.
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2 Reasons Why Bitcoin Could Hit $20,000 in 2020 BITCOIN HALVING 2020 PRICE PREDICTION!? Bitcoin TA! BTC HALVING EXPLAINED! BEST MINING-BITCOIN HACK 2019 BITCOIN VS STOCK MARKET! SHOCK BITCOIN PRICE PREDICTION!? BTC & ETHEREUM ANALYSIS & NEWS! Bitcoin TA BITCOIN BREAKOUT!!!  FED Rate Cut, Financial Crisis Coming?  BTC To $400,000!

Dollar to Bitcoin forecast on Thursday, November, 5: at the end of the day exchange rate 0.673 Bitcoins, minimum 0.629 and maximum 0.724. USD to BTC predictions on Friday, November, 6: at the end of the day exchange rate 0.679 Bitcoins, minimum 0.635 and maximum 0.730. Bitcoin Forecast 2020-2021-2031. Bitcoin to AUD Prediction 2020, 2021, 2022 ... Der Bitcoin - Euro Chart zeigt die Entwicklung des Bitcoin - Euro in grafischer Form und erlaubt somit einen schnellen Überblick über Kursverlauf, Höchst- und Tiefststände. EUR TO INR LIVE. Bitcoin Price Prediction For 2020, 2021-2023. In 3 weeks Euro to Rupee forecast on Monday, November, 16: exchange rate 89.05 Rupees, maximum 90.39 Rs, minimum 87.71 Rs. EUR to INR forecast on Tuesday, November, 17: exchange rate 89.06 Rupees, maximum 90.40 Rs, minimum 87.72 Rs. Euro to Rupee forecast on Wednesday, November, 18: exchange rate 88.81 Rupees, maximum 90.14 Rs ... Bitcoin Cash Price Prediction 2020, 2021-2023. Bitcoin Gold Price Prediction 2020, 2021-2023. BTC to USD predictions for March 2021. In the beginning price at 16958 Dollars. Maximum price $17539, minimum price $15245. The average for the month $16534. Bitcoin price forecast at the end of the month $16392, change for March -3.3%. View live Bitcoin / Euro chart to track latest price changes. Trade ideas, forecasts and market news are at your disposal as well.

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2 Reasons Why Bitcoin Could Hit $20,000 in 2020

bitcoin exchange rate bitcoin explorer bitcoin explained bitcoin energy consumption bitcoin emoji bitcoin etf news bitcoin exchange sites bitcoin ethereum e bitcoin wallet e bitcoin cash e bitcoin ... Bitcoin trading is popular for institutional traders are the moment, it seems bitcoin traders from institutions are treating bitcoin like a store of value. Yesterday i spoke of a potential altcoin ... bitcoin price prediction! in todays video i analyse the stock market to explain what will happen to bitcoin and the stock market in the event of a stock market crash! bitcoin news. The market is serving more bullish narratives for 2020, many of them predicting the Bitcoin rate to close above its historical high of $20,000. Let’s take a look at 2 reasons that could send ... Bitcoin Technical Analysis & Bitcoin News Today: Federal Reserve just cut the interest rate. Also, I'll use technical analysis on the Bitcoin price to make a Bitcoin price prediction. Watch the ...

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