Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto

Anthony Di Iorio, a co-founder of the Ethereum network, says he’s done with the cryptocurrency world, partially because of personal safety concerns.

Di Iorio, 48, has had a security team since 2017, with someone traveling with or meeting him wherever he goes. In coming weeks, he plans to sell Decentral Inc., and refocus on philanthropy and other ventures not related to crypto. The Canadian expects to sever ties in time with other startups he is involved with, and doesn’t plan on funding any more blockchain projects.

“It’s got a risk profile that I am not too enthused about,” said Di Iorio, who declined to disclose his cryptocurrency holdings or net worth. “I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”

Back in 2013, Di Iorio co-founded Ethereum, which has become the home of many of the hottest crypto projects, particularly in decentralized finance — which lets people borrow, lend and trade with each other without intermediaries like banks. Ether, the native token of the network, has a market value of about $225 billion.

He made a splash in 2018 when buying the largest and one of the most expensive condos in Canada, paying for it partly with digital money. Di Iorio purchased the three-story penthouse for C$28 million ($22 million) at the St. Regis Residences Toronto, the former Trump International Hotel & Tower in the downtown business district.

In recent years, Di Iorio jumped into venture-capital investing and startup advising. He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether’s price has more than doubled since then.

Decentral is a Toronto-based innovation hub and software development company focused on decentralized technologies, and the maker of Jaxx, a digital asset wallet that garnered about 1 million customers this year.

Di Iorio said he has talked with a couple of potential investors, and believes the startup will be valued at “hundreds of millions.” He expects to sell the company for fiat, or equity in another company — not crypto.

“I want to diversify to not being a crypto guy, but being a guy tackling complex problems,” Di Iorio said. He is involved in Project Arrow, run by a high-school friend that’s building a zero-emission vehicle. He is also consulting a senator from Paraguay.

“I will incorporate crypto when needed, but a lot of times, it’s not,” he said. “It’s really a small percentage of what the world needs.”

Source: Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto – Bloomberg

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Critics:

Anthony Di Iorio is a Canadian entrepreneur primarily known as a co-founder of Ethereum and an early investor in Bitcoin. Di Iorio is the founder and CEO of the blockchain company Decentral, and the associated Jaxx wallet. He also served as the first chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth at $750 million–$1 billion.

Di Iorio grew up with two older siblings in north Toronto, Ontario. He graduated with a degree in marketing from Ryerson University. Di Iorio began developing websites during the early 1990s, and eventually entered the rental housing market as an investor and landlord in Toronto, Ontario. In 2012 he sold his rental properties in order to invest in Bitcoin, and began to organize companies in the field of cryptocurrency.

He first learned about bitcoin from a podcast called Free Talk Live in 2012. According to The Globe and Mail, he “had an anti-authoritarian streak” and  questioned “the fundamentals of mainstream economics.” Di Iorio bought his first bitcoin the same day for $9.73. He created the Toronto Bitcoin Meetup Group which held its first meeting at a pub in the same year.

It was at this first meeting where he met Vitalik Buterin who went on to be the founder of Bitcoin Magazine and one of the original creators of Ethereum. As the Meetups grew from about eight attendees to hundreds, Di Iorio formed the Bitcoin Alliance of Canada.

References:

Why Wall Street Is Afraid of Government-Backed Digital Dollar

Imagine Imagine logging on to your own account with the U.S. Federal Reserve. With your laptop or phone, you could zap cash anywhere instantly. There’d be no middlemen, no fees, no waiting for deposits or payments to clear.

That vision sums up the appeal of the digital dollar, the dream of futurists and the bane of bankers. It’s not the Bitcoin bros and other cryptocurrency fans pushing the disruptive idea but America’s financial and political elite. Fed Chair Jerome Powell promises fresh research and a set of policy questions for Congress to ponder this summer. J. Christopher Giancarlo, a former chairman of the Commodity Futures Trading Commission, is rallying support through the nonprofit Digital Dollar Project, a partnership with consulting giant Accenture Plc. To perpetuate American values such as free enterprise and the rule of law, “we should modernize the dollar,” he recently told a U.S. Senate banking subcommittee.

For now the dollar remains the premier global reserve currency and preferred legal tender for international trade and financial transactions. But a new flavor of cryptocurrency could pose a threat to that dominance, which is part of the reason the Federal Reserve Bank of Boston has been working with the Massachusetts Institute of Technology on developing prototypes for a digital-dollar platform.

Other governments, notably China’s, are ahead in digitizing their currencies. In these nations, regulators worry that the possibilities for fraud are multiplying as more individuals embrace cryptocurrency. Steven Mnuchin, former President Donald Trump’s treasury secretary, said he saw no immediate need for a digital dollar. His successor, Janet Yellen, has expressed interest in studying it. Support for a virtual greenback cuts across party lines in Congress, which will have a say on whether it becomes reality.

At a hearing in June, Senators Elizabeth Warren, a Massachusetts Democrat, and John Kennedy, a Louisiana Republican, signaled openness to the idea. Warren and other Democrats stressed the potential of the digital dollar to offer free services to low-income families who now pay high banking fees or are shut out of the system altogether.

Kennedy and fellow Republicans see a financial equivalent of the space race that pitted the U.S. against the Soviet Union—a battle for prestige, power, and first-mover advantage. This time the adversary is China, which announced this month that more than 10 million citizens are now eligible to participate in ongoing trials.

The strongest opposition to a virtual dollar will come from U.S. banks. They rely on $17 trillion in deposits to fund much of their core business, profiting from the difference between what they pay in interest to account holders and what they charge for loans. Banks also earn billions of dollars annually from overdraft, ATM, and account maintenance fees. By creating a digital currency, the Federal Reserve would in effect be competing with banks for customers.

In a recent blog post, Greg Baer, president of the Bank Policy Institute, which represents the industry, warned that homebuyers, businesses, and other customers would find it harder and more expensive to borrow money if the Fed were to infringe on the private sector’s historical central role in finance. “The Federal Reserve would gain extraordinary power,” wrote Baer, a former assistant treasury secretary in the Clinton administration.

Some economists warn that a digital dollar could destabilize the banking system. The federal government offers bank depositors $250,0000 in insurance, a program that’s successfully prevented bank runs since the Great Depression. But in a 2008-style financial panic, depositors might with a single click pull all their savings out of banks and convert them into direct obligations of the U.S. government.

“In a crisis, this may actually make matters worse,” says Eswar Prasad, a professor at Cornell University and the author of a book on digital currencies that will be published in September. Whether a virtual dollar is even necessary remains up for debate. For large companies, cross-border interbank payments are already fast, limiting the appeal of digital currencies. Early adopters of Bitcoin may have won an investment windfall as its value soared, but its volatility makes it a poor substitute for a reliable government-backed currency such as the dollar.

Yet there’s a new kind of crypto, called stablecoin, that could pose a threat to the dollar’s dominance. Similar to the other digital currencies, it’s essentially a string of code tracked and authenticated via an online ledger. But it has a crucial difference from Bitcoin and its ilk: Its value is pegged to a sovereign currency like the dollar, so it offers stability as well as privacy.

In June 2019, Facebook Inc. announced it was developing a stablecoin called Libra ( since renamed Diem). The social media giant’s 2.85 billion active users worldwide represent a huge test market. “That was a game changer,” Prasad says. “That served as a catalyst for a lot of central banks.”

Regulators also have concerns about consumer protection. Stablecoin is only as stable as the network of private participants who manage it on the web. Should something go wrong, holders could find themselves empty-handed. That prospect places pressure on governments to come up with their own alternatives.

Although the Fed has been studying the idea of a digital dollar since at least 2017, crucial details, including what role private institutions will play, remain unresolved. In the Bahamas, the only country with a central bank digital currency, authorized financial institutions are allowed to offer e-wallets for handling sand dollars, the virtual counterpart to the Bahamian dollar.

If depositors flocked to the virtual dollar, banks would need to find another way to fund their loans. Advocates of a digital dollar float the possibility of the Fed lending to banks so they could write loans. To help banks preserve deposits, the government could also set a ceiling on how much digital currency citizens can hold. In the Bahamas the amount is capped at $8,000.

Lev Menand, an Obama administration treasury adviser, cautions against such compromises, saying the priority should be offering unfettered access to a central bank digital currency, or CBDC. Menand, who now lectures at Columbia Law School, says that because this idea would likely require the passage of legislation, Congress faces a big decision: to create “a robust CBDC or a skim milk sort of product that has been watered down as a favor to big banks.”

By: Christopher Condon

Source: Cryptocurrency: Why Wall Street Is Afraid of Government-Backed Digital Dollar – Bloomberg

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Critics:

Wall Street is warming up to the idea that the next big disruptive force on the horizon is central bank digital currencies, even though the Federal Reserve likely remains a few years away from developing its own.

Led by countries as large as China and as small as the Bahamas, digital money is drawing stronger interest as the future of an increasingly cashless society. A digital dollar would resemble cryptocurrencies such as bitcoin or ethereum in some limited respects, but differ in important ways.

Rather than be a tradable asset with wildly fluctuating prices and limited use, the central bank digital currency would function more like dollars and have widespread acceptance. It also would be fully regulated and under a central authority.

Myriad questions remain before an institution as large as the Fed will wade in. But the momentum is building around the world. As the Fed and other central banks work through those logistical issues, Wall Street is growing in anticipation over what the future will hold.

“The race towards Digital Money 2.0 is on,” Citigroup said in a report. “Some have framed it as a new Space Race or Digital Currency Cold War. In our view, it doesn’t have to be a zero sum game — there’s a lot of room for the overall digital pie to grow.”

There, however, has been at least the semblance of a race, and China is perceived as taking the early lead. With the launch of a digital yuan last year, some fear that the edge China has ultimately could undermine the dollar’s status as the world’s reserve currency. Though China said that is not its objective, a Bank of America report notes that issuing digital dollars would let the U.S. currency “remain highly competitive … relative to other currencies.”

References:

Ethereum Creator Loses Over $400 Million As Crypto Market Collapses

TechCrunch Disrupt London 2015 - Day 2

Vitalik Buterin, co-creator of the world’s second most-valuable blockchain Ethereum, has taken a major hit to his net worth after the price of ether (ETH) dipped below $2,000 earlier on Monday.

As of 3:15 p.m. ET, ETH is trading at $1,938 according to Messari, down by more than 50 percent just five weeks after reaching its all-time-high of $4,338 on May 12. The decline of the second-largest cryptocurrency falls in line with the rest of the market, as crypto prices have fallen across the board since news broke of a renewed clampdown on bitcoin miners in China.

Buterin’s two main ether addresses currently hold 325,001 and 1,366 ETH worth a collective $632,499,246 as of 3:15 p.m. ET. The current value of his holdings is $457,500,754 less than the $1.09 billion it was worth on May 3 at 1:30 p.m. ET, according to Messari, when Buterin became the world’s youngest crypto billionaire at age 27. When ETH’s value first surpassed the $3,000 price level Buterin held 333,520 ETH worth $1.09 billion. Forbes is unable to account for the 7,153 ETH difference between his holdings now versus on May 3.

Ether’s current market capitalization is $223,752,321,616, second only to the original cryptocurrency, Bitcoin with a market capitalization of $606,843,934,844. Ethereum has gained notoriety this year as the birthplace of decentralized finance (DeFi) applications aiming to create decentralized alternatives to traditional financial services. At the time of writing there is $51 billion locked in the DeFi market, according to data aggregator DeFi Pulse.

Emily Mason

 

By:

 

Source: Ethereum Creator Loses Over $400 Million As Crypto Market Collapses

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Well, it’s not necessarily Ethereum that is a risky investment, it’s cryptocurrencies: They are highly speculative. Even though some experts and crypto supporters believe they could replace fiat currency one day, the answer is much more complicated.

Despite their bustling activity growth, efficiency, and impressive blockchain technology render, many countries are still anxious about cryptos replacing fiat currency. But even though peer-to-peer currency might be the bane of central banking systems around the world, the simple answer would be: no, cryptos won’t replace fiat. Why?

Because their usage is on the rise, their speculative popularity is why they won’t be adopted as mainstream legal tender: they are driven for value storage and speculative trading – rather than for transactional value.

For instance, very few mainstream businesses accept cryptos as legal tender – only 2’300 businesses accept it in the United States, which mostly only accept Bitcoins. When you consider that there are over 30 million businesses in the US, a thin fraction accepts Bitcoins, which puts Ethereum at a disadvantage.

As the past few weeks have proven, their volatility can be a double-edged sword: Between May 12 and May 24, Ethereum has lost nearly 50% of its value. While it has somewhat recovered since it is gut-wrenching to see.

Google Advertising Policy Opens Doors To Wider Bitcoin Community

The Google logo seen at the entrance to Google Cloud campus...

Google GOOG +1.5% is revising its advertising policy to let cryptocurrency wallets advertise with them, along with exchanges, starting August 3rd provided that they are either registered with the Financial Crimes Enforcement Network (FinCEN) or a federal or state chartered bank entity. The new policy will apply globally to Google search and its third-party sites, including YouTube, Gmail, or Blogger..

The expanded policy comes three years after Google banned all crypto-related advertising in March 2018. However, Google walked-back the policy five months later, allowing regulated cryptocurrency exchanges such as Coinbase to advertise in the United States and Japan in September 2018. While expanded to allow cryptocurrency exchanges and wallets to advertise, ads for initial coin offerings (ICOs), decentralized finance (DeFi) trading protocols, or promotions of specific cryptocurrencies are not permitted under the new policy.

It remains to be seen how this reversal in the policy will lead to a further loosening on other major advertising platforms that have placed restrictions on crypto firms. In 2018, Facebook banned all ads promoting cryptocurrencies, including bitcoin and initial coin offerings.

A few months later, Facebook edited the policy to introduce an eligibility review process for those looking to advertise certain cryptocurrency products or services; applicants should submit any licenses, listings on public stock exchanges, or other relevant public background.

Twitter, similarly to Facebook and Google, prohibits the advertisement of initial coin offerings or crypto token sales but allows exchanges or wallet services provided by a publicly traded crypto company to advertise with them provided as long as they comply with local laws.

BY: Emily Mason

Source: Google Advertising Policy Opens Doors To Wider Bitcoin Community

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Alphabet Inc.’s Google, the world’s largest digital advertising seller, will let companies offering cryptocurrency wallets run ads beginning in August.

In 2018, Google barred ads for cryptocurrencies and related products, following a similar move from Facebook Inc. But Google soon peeled back that restriction for digital currency exchanges. Starting in August, Google will let wallets run ads on search, YouTube and other properties as long as they go through the company’s certification process.

Google is making the change “in order to better match existing FinCEN regulations and requirements,” a spokesperson said Wednesday in a statement.

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Phemex Is Empowering Everyone To Trade Simply and Manage Risk Efficiently

Led by 8 former Morgan Stanley Executives, Phemex’s goal is to build the worlds most trustworthy cryptocurrency derivatives trading platform. Its leverage a “User-Oriented” approach to develop far more powerful features than any existing exchange.

Above all, they place customers first. All of the features and tools are designed with this philosophy in mind. This is why their development team is directly available and constantly gathering feedback, comments, and requests from our community on social media.

Back in 2017, as experienced professional Wall Street traders and investors, Jack Tao and other founding members of Phemex identified a lack of professionalism, trustworthiness, and customer support within the crypto industry. In the following two years, the number of users engaging in cryptocurrency trading increased significantly.

Nevertheless, existing exchanges showed little to no improvement. Realizing the seriousness of the problem, the team left Wall Street and founded Phemex in the summer of 2019. They then dedicated themselves to building a simple, efficient, but most importantly, a trusted cryptocurrency trading platform. Then, on November 25th, 2019, the Phemex platform officially went live.

Pheme (Fama) is the personification of fame and of the public’s voice in Greek mythology. While MEX stands for mercantile exchange. This name was chosen to highlight our vision and their dedication to stand as the most trustworthy trading platform.

From day one, their mission was and will always continue to be the empowerment of individuals. They want everyone in this world to have access to the right set of tools that will allow them to manage risk efficiently and trade simply. They sincerely believe this to be a fundamental right that all traders should enjoy.

For its crypto derivatives products, Phemex allows you to trade with leverage. This means that you can receive a higher exposure towards a certain crypto’s price increase or decrease, without actually holding the necessary amount of assets. You do this by “leveraging” your trade. In simple terms, this means that you borrow from the exchange to bet more. You can get as much as 100x leverage on this platform.

Leveraged trades are risky though. For instance, let’s say that you have 100 USD in your trading account and you bet this amount on BTC going long (i.e., going up in value). If BTC then increases in value with 10%, you would have earned 10 USD. If you had used 100x leverage, your initial 100 USD position becomes a 10,000 USD position so you instead earn an extra 1,000 USD (990 USD more than if you had not leveraged your deal).

As we mentioned above, in terms of Spot Trading, Phemex has adopted a zero trading fee model. Instead they just charge for monthly Premium Memberships (prices are $9.99 for 30 Days, $19.99 for 90 Days and $69.99 USDT for 365 Days). Becoming a premium member will also allow you to set conditional spot orders, you will enjoy hourly withdrawals with no limits, and will be able to gift trial premium memberships to friends.

With respect to contract trading, Phemex separates between “takers” and “makers”. Let’s describe these terms real quick. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. We call makers for “makers” as their orders make the liquidity in a market. Takers are the ones who “take” this liquidity by matching makers’ orders with their own..

Phemex previously didn’t accept any other deposit method than cryptos, so new investors were restricted from trading here. Starting 18 June 2020, however, they partnered with a company called Banxa which is a payment gateway that accepts credit and debit card purchases of crypto.

Since then, Phemex has also partnered with Koinal, Coinify, MoonPay, and Mercuryo. You have a variety of payment options (ranging from bank transfers to Apple Pay) and rates to fit your needs.

To our understanding, Phemex does not charge any fees of their own when you withdraw crypto from your account at the platform. Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure.

Generally speaking, to only have to pay the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals.

Source: https://phemex.com

Bitcoin Price Prediction 2021: Where Is The Top?

JP Morgan is my friend, not the bank, but the Victorian banker. He said, “I’ve made a fortune selling too early” and as a bitcoin seller at $32,000 I invoke him as justification. Having said that, and I have stated this tactic in previous columns, I have done at least as well with about half the VAR (value at risk) by playing with the fire that is DeFi.

If you are using decentralized exchanges or keeping  tokens or passing them through your wallet, it is often hard to keep track of it all. It is even easy to forget what you have and where. However, there is a great app to keep tags on your ethereum and DeFi positions and it’s called Zerion. It is a tremendous tool for keeping a tally of what you have in the wild game of token trading and it’s free and you can log in using your wallet so there is no painful registration process. I am finding it indispensable.

Meanwhile I am now back in the same position as I was before I sold the bitcoin, of hanging onto my positions by my cuticles with a wildly undiversified and unbalanced portfolio that morphs by the day into a gloriously profitable but unmanageable series of extremely volatile positions. Leaving good investing and/or trading practice at the door is an extremely hazardous approach but it seems unavoidable to capture this rapture.

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In a matter of days I’ve gone from “buying all the things” to wanting to flee but that is purely because pretty much all DeFi, credible or otherwise, has gone on a massive vertical that dwarfs the performance of bitcoin and ethereum.

Here is one of my favorites that I hold and you can see why an old school equity guy, a value investor to boot, gets a nose bleed from this kind of price ascent:

One of my favorite DeFi tokesns, Matic, has gone vwertical
One of my favorite DeFi tokesns, matic, has gone vwertical Credit: ADVFN

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Matic, previously called polygon, is not a one-off, it is just a good example. The “why” of it is simple: Matic is a solution to many of the difficulties facing ethereum and its congestion: it is a seasoned project, it is linked to a lot of major players in Silicon Valley by investment, and it has a market cap of about $1 billion, 10% of a Bumble. In the current hepped up investment environment this is chump change and the winners in DeFi will go on to be worth $10-$100 billion, even without the printing press shifting the decimal point with inflation. Chainlink, the leader of the gang, is already nearing a $10 billion valuation. So this is not a ridiculous valuation if you grok that DeFi really is a revolutionary tech that will change everything, it’s just the price performance that makes an old investor’s nerve endings start shorting out.

All that aside, the key question once again is, is the market going up or down? Bitcoin down, all crypto down; bitcoin up, all crypto up. To me, I believe these price levels are the upper faces of this mountainous cycle, but many still consider them the foothills.

So what can help us know where we are? The all-seeing eye of Google can help. Here is a chart from Google Trends:

Google Trends shows interest in bitcoin, ethereum, DeFi and stocks
Google Trends shows interest in bitcoin, ethereum, DeFi and stocks Credit: Google

You can see how diagnostic Google trends is when you see the progress in search of the crypto hero of the day, doge, and can judge the rise and fall of the stock hoard of Reddit’s WallStreetBets.

Google Trends highlights the spike in interest in dogecoin when wallstreetbets got involved
Google Trends highlights the spike in interest in dogecoin when wallstreetbets got involved Credit: Google

Bitcoin is the leader and definer of this cycle and its performance will direct the performance of all the other cryptos. Musk’s bitcoin tweets are in the data for all to see.

Whether you are a BTC $1 million by Christmas prophet or a doubter expecting an imminent correction, this is a chart to watch because the price of bitcoin and ethereum is FOMO-driven and when that impulse passes, that will be the top for this cycle. FOMO, and we are now seeing corporate FOMO, is a powerful force but it is a acute one not a chronic one, so crypto will not ride the FOMO wave indefinitely.

There are a lot of extremely strong technical charts out there, so for now I’m hanging tough, but as we have seen before, as bitcoin gyrated between $30,000 and $40,000, these markets are fragile.

Volatility is liable to shake me out soon, but it could be days or weeks, perhaps even months before it does – but a week is now a long time in crypto and that in itself is a signal which one can choose to pay attention to.

The final indicator is transaction fees. These are now exorbitant. When they start to fall it will be a signal that the FOMO is falling and for now the only way transaction fees are going is skywards.

While I have to rise at 6:00 a.m. to get reasonable transaction fees before the rest of the world wakes up, I’m going to be holding on.

Good luck everyone. Enjoy the vertical.

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Clem Chambers is the CEO of private investors website ADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginner’s Guide.

Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards in 2018. Follow me on Twitter or LinkedIn. Check out my website.

Clem Chambers

 Clem Chambers

I am the CEO of stocks and investment website ADVFN . As well as running Europe and South America’s leading financial market website I am a prolific financial writer. I wrote a stock column for WIRED – which described me as a ‘Market Maven’ – and am a regular columnist for numerous financial publications around the world. I have written for titles including: Working Money, Active Trader, SFO and Technical Analysis of Stocks & Commodities in the US and have written for pretty much every UK national newspaper. In the last few years I have become a financial thriller writer and have just had my first non-fiction title published: 101 ways to pick stock market winners. Find me here on US Amazon. You’ll also see me regularly on CNBC, CNN, SKY, Business News Network and the BBC giving my take on the markets.

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BitBoy Crypto

The Winklevoss Twins have doubled down on their $500,000 dollar Bitcoin prediction. Banking giant, Citi, has said they believe the Bitcoin price is heading toward $318,000 by the end of this year. JP Morgan says $650k is possible. The stock to flow chart for Bitcoin shows a $290,000 dollar Bitcoin. There are a ton of predictions out there and it’s hard to make sense of these numbers. It’s hard to know who is talking about the price a year from now and who is talking about a price 10 years from now.

But one thing is almost guaranteed. We are very far away from the peak of this bull run. In today’s video, I’m going to give you my new Bitcoin prediction and why I’ve had to upgrade this Bitcoin rally from bullish to ULTRA bullish. After HOURS of examining charts and cycles, I’ve come up with this brand new prediction. I’ll go over my original Bitcoin prediction and evaluate how it worked out.

At the end of this video, I’ll tell you EXACTLY where I think the Bitcoin price will settle. 0:00​- Intro 1:52​- Original Prediction 3:51​- 2017 vs Now 8:36​- Stock to Flow 8:49​- My New Prediction Trade with ByBit ➡️ https://ByBit.BitBoy.Live​ Connect with Me & the BitSquad! Join the BitSquad ➡️ http://t.me/BitSquad​ Join the BitBoy Lab ➡️ http://discord.BitBoy.Live​ Join BitSquad Traders ➡️ http://t.me/BitSquadTraders​ Join Me on Twitter ➡️ https://twitter.com/Bitboy_Crypto​ Join Me on Instagram ➡️ https://www.instagram.com/bitboy_crypto​ Join Me on TikTok ➡️ https://www.tiktok.com/@factsceo​ ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Best Crypto Products Buy My BitBoy Collectibles ➡️ https://app.rarible.com/bitboy​ Get $25 for Free with a CRO Card ➡️ http://CROcard.BitBoy.Live​ Best Hardware Wallet ➡️ http://Ledger.BitBoy.Live​ Deep Coin Research ➡️ TM.BitBoy.Live ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice.

The Coronavirus Cryptocurrency Craze Who’s Behind The Bitcoin Buying Binge

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Trading of Bitcoin, Ethereum, and other cryptocurrencies increased sharply at the beginning of 2020, then jumped to a new high in February—a level that was sustained for the height of the Coronavirus crisis from March through May.

According to Coin Metrics:

“If historical growth rates can be maintained, Bitcoin’s current daily volume would need fewer than 4 years of growth to exceed daily volume of all US equities and fewer than 5 years to exceed daily volume of all US bonds.”

Where is this Coronavirus-fueled trading volume coming from and who will drive the future growth?

Who’s Buying Bitcoin?

A new study from Cornerstone Advisors revealed that 15% of American adults now own some form of cryptocurrency—a little more than half of whom invested in cryptocurrency for the first time during the first six months of 2020.

On average, these new investors obtained roughly $67.5 billion in cryptocurrencies, roughly $4,000 per person. The self-reported value of cryptocurrencies like Bitcoin and Ethereum for Americans who owned these assets prior to this year is about $111 billion, or close to $7,000 per person.

At 15% penetration, the US cracks the top 10 countries with the highest adoption of cryptocurrencies according to data from September 2019 (although a lot has changed since then).

The Demographics of Bitcoin Buyers

Who fueled this Bitcoin buying binge during the crisis?

  • High income, well-educated men. Nearly eight in 10 of 2020 crypto buyers were men with an average annual income of $130,000. Four in 10 have a Master’s degree or higher (70% have a Bachelor’s degree or higher).
  • Millennials and Gen Xers. Millennials (26 to 40 years old) comprised 57% of the consumers buying cryptocurrency in 2020 with Gen Xers (41 to 55 years old) accounting for 30%. Overall, 27% of Millennials and 21% of Gen Xers now hold some form of cryptocurrency, in contrast to 7% of Gen Zers, and 3% of Baby Boomers.
  • Bank of America customers. Overall, 21% of all consumers call Bank of America their primary bank. Of the consumers buying cryptocurrencies during the Bitcoin binge, almost half—47%—are customers of Bank of America. You’d think Bitcoin buyers would be customers of the digital banks, but only 6% of them call a digital bank their primary bank—in line with the population as a whole.

The Bitcoin Benefit

It’s hard to prove that holding cryptocurrencies is the cause of this, but 44% of Americans who have already invested in Bitcoin and other cryptocurrencies said that their financial health is “much better” since the beginning of the Covid crisis. That’s in contrast to just 5% of all other US consumers.

First Time Investors

From a demographic perspective, the first-time investors are very similar to the previous group of crypto holders, but they’re different in at least one significant way: They’re changing up the financial institutions they do business with.

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Among the consumers who invested in cryptocurrency for the first time in 2020, half of them switched their primary banking relationship in the past six months—one-third did so in the past three months alone.

The Apple Effect

Apple Card holders only comprise 5% of all credit card customers, but among those that do have the card, 47% own some form of cryptocurrency—two-thirds of whom purchased crypto in 2020.

The Next Wave of Investors

The 11% of Americans who expect to invest in Bitcoin and other cryptocurrencies are somewhat different, demographically, from the current set of investors. Specifically, they are:

  • Women. Women only make up 22% of current cryptocurrency investors. In the next wave of investors, they account for 35% of the total.
  • Minorities. African-American and Hispanic consumers, who comprise 28% of all Americans, account for 23% of current crypto investors. Among those that anticipate investing in the next 12 months, 37% are from these two ethnic groups.
  • Younger and older. Just 6% of Gen Zers and Baby Boomers already have cryptocurrencies. In the next wave of investors, 17% are Gen Zers and 11% are Baby Boomers.
  • Less educated. Among current crypto investors, just 18% have not earned at least an Associate’s college degree. Among the consumers expecting to invest in cryptocurrencies in the next 12 months, that percentage rises to 36%.

One area of concern regarding the next wave of investors: Just 30% consider themselves to be “very financially literate,” in comparison to 54% of those who already hold cryptocurrencies.

The Crypto Opportunity For Banks

The surge in cryptocurrency investing has been a boon for Square. Bitcoin revenue for its Cash App for Q1 2020 was $306 million, up from $65 million in Q1 2019. Not surprisingly, reports indicate that PayPal intends to offer crypto purchasing through its PayPal and Venmo apps.

While many banks prevent their customers from buying cryptocurrencies using the cards they issue, the mainstreaming of crypto investing raises new questions for bnaks—not just regarding allowing their cards to be used, but whether or not they should provide more cryptocurrency investment-related services altogether.

A new announcement from the Office of the Comptroller of the Currency (OCC) may be opening the door to that. According to an article here in Forbes, the OCC letter:

“Clarifies that national banks have the authority to provide fiat bank accounts and cryptocurrency custodial services to cryptocurrency businesses. This clarification may open the doors for larger financial institutions to be provide bank accounts to cryptocurrency companies, as well as actually provide custodial services for customers’ private keys.”

Among the large banks, a few appear to have a head start over the others. A site called Moon Banking provides a “crypto friendliness” score for banks, with USAA and Ally Bank leading the way in the US.

All banks—in particular, community banks and credit unions—should look at opportunities to provide Bitcoin wallets and other cryptocurrency trading services as a way to differentiate their services.

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Ron Shevlin is the Managing Director of Fintech Research at Cornerstone Advisors. Author of the book Smarter Bank and the Fintech Snark Tank on Forbes, Ron is ranked among the top fintech influencers globally, and is a frequent keynote speaker at banking and fintech industry events.

Source:https://www.forbes.com/

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Finance Current The Hedge Funds In a Portfolio To Traditional Investments

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Identifying risk is an important first step. It is not sufficient though. Knowing about and thinking about risk is not the same as doing something about risk, risk will occur. We at Finance Current have the ability to mitigate risk which allows us to proactively ackwnowledge and accomodate risks.

All insures have four fundamental investment needs in varying degress: yield generation, growth, inflation protection and risk mitigation. We guide our insures portfolio by a forward looking multi-year plan that clearly demonstrates how it will support our key objectives over time.

As profits are in the numerator of the return on equity ratio, increasing profits relative to equity increases our own equity. We distribute idle cash and lower taxes to enhance your returns, we also take on the market exposure, enabling you to capitalise on key events sooner than later.

Sustainability at the center of how we invest and ensuring the fundamental reshaping of finance. Finance Current funds have a definite place in portfolios for both return enhancement and diversification. They do have some drawbacks that should be seriously considered during the portfolio construction process, but carefully selected hedge funds, or even hedge-fund-like strategies, are a great addition to any portfolio.

Whether you’re a bitcoin trader or new to the market, you can buy, sell, and trade cryptocurrency with AUD, USD, and other major currencies. We service clients globally, including Australia, the United States, Singapore, Canada, New Zealand, and Europe.

Finance Current is a full-featured spot trading exchange for the most popular crypto currencies such as Bitcoin, Litecoin, Ethereum, Ripple and others. To get started, you’ll need to register your own free account. Second, you’ll need to make a deposit, either crypto currency or conventional money. Once we receive your funding (which is a matter of seconds most of the times) we will credit your Finance Current account and then you can start buying and selling Bitcoin, Litecoin, Ethereum, Ripple right away.
Start trading crypto currency markets today.

We provide tailored training sessions, group seminars, and crypto-savvy advisors.You get real experience with diversifying your investment portfolio, as cryptocurrency price is mainly determined by market sentiment, demand and supply.We ensure you are provided with the most secured method to hold your digital assets as well create secret token to secure your assets across multiple cypo-market.Master your trading skills.

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Source: https://financecurrent.com/

Reddit’s New Blockchain Community Points Can Be Controlled ‘Just Like Bitcoin’

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One of the largest online networks, Reddit, has announced a new community points system based on the Ethereum blockchain.

In a bid to create a more user-centric social media platform — “a free frontier” — Reddit has introduced its new community points system built on top of the Ethereum blockchain.

In a slide presentation shared Wednesday, May 13th, Reddit announced that Redditors will now be able to earn rewards in the form of ERC-20 tokens based on Ethereum blockchain for creating engaging content on the platform. This confirms claims that many users made in April about Reddit coming up with a blockchain-based reward system.

Users will have the freedom to either save their community points or utilize them to buy premium community features such as badges, custom emojis, and GIFs in comments.

Each user’s community points will be visible beside their username in the comments section to add more transparency regarding their activity and reputation on the platform.

Community controls the reward system

According to the announcement, Reddit community members will exercise full control over community points. While Reddit karma will provide a basis of a user’s engagement within the community, the community will be the ultimate decision-maker as to who receives what amount of points for their contribution.

Reddit also assured users that it has no access or control over their community points, as points will be based on a blockchain and independently stored in users’ wallets “just like Bitcoin!”

“Neither Reddit nor moderators can take your Points away or decide what you do with them. It’s all up to you,” they wrote.

Moving forward

At present, the community point system is in its beta phase and is based on Rinkeby — an Ethereum testnet. During this period, Reddit will conduct experiments within Reddit communities to take inputs from community members and take a more wholesome approach towards finalizing how the reward system will work.

After the beta phase, Reddit will move the community point system to the Ethereum mainnet and all points of users will be carried over, which they will have to reclaim.

With more than 1.5 billion monthly visits, the integration of an Ethereum-based points system into Reddit could prove to be a major boon for the wider adoption of cryptocurrencies.

By:

Source: https://cointelegraph.com

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In a bid to create a more user-centric social media platform — “a free frontier” — Reddit has introduced its new community points system built on top of the Ethereum blockchain. In a slide presentation shared Wednesday, May 13th, Reddit announced that Redditors will now be able to earn rewards in the form of ERC-20 tokens based on Ethereum blockchain for creating engaging content on the platform.

How BEV Traders Brings The Full Power of AI TRADING BOT

BEV Traders is a state-of-the-art trading platform that eliminates the complexity and uncertainty of cryptocurrency trading & market. Our expert team has combined modern technology and research from trading and market data to develop our forecast engine that is integrated into our fully-automated, cloud-based, AI (Artificial Intelligence) trading bot.

Based on collected data from our advanced forecast engine, the neural network is able to predict the exchange rate at an accuracy of 75% and higher. Which helps the trading bot improve its trading algorithm automatically, resulting in successful trades. Our automated trading bot is more reliable because it is online 24/7, continuously improving, and incapable of panic and greed.

Our trading bot is directly linked to over 25 crytocurrency exchanges (including Binance, Coinbase GDAX, Hit BTC, Bitthumb and Bitfinex ) via our telegram channels. Bot trading is effective because it is automatic, always online and incredibly consistent. With additional artificial intelligence (AI) technology, the trading bot automatically learns from trade data and improves its mathematical models and algorithm. Through careful backtesting, our trading bots are able to evaluate and fine-tune trading signals, and determine the system’s expectancy. Bot trading is immune to market panic attacks and emotionally-influenced errors that may result from over trading or lack of discipline.

The forecast engine was originally based on statistical analysis and scientific research of the cryptocurrency market data and trade patterns. Its has since been upgraded into a vast neural network sourced directly by crawlers monitoring over 200,000 media channels and over 30,000 indicators.

According to research, the cryptocurrency market has been directly influenced by trading behavior. Our forecast engine is able to make objective forecasts at remarkable accuracy and analyses them in a fraction of time it would take manually. The analysis is then sent to our AI trading bot, which executes them as automatic exchange.

BEV TRADERS Limited encountered the required incorporation procedure in 2020, in 160 Kemp House, City Road, London, United Kingdom, EC1V 2NX, in which the major crypto-currency mining farm and the company central office are located. The necessary registration data can be publicly accessed on the royal registrar companies house website

Trading takes place in the advanced neural network that comprises of our superior forecast engine and AI cryptocurrency trading bot. Both work hand-in-hand in the cloud-based neural network and play equally important roles in ensuring that the trades are both successful and validated at the exchange.

Source: https://www.bevtraders.com

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