Posts belonging to Category bitcoin



Facebook to Launch its Own Cryptocurrency

Massive ICO

An exclusive source has confirmed to Finance Magnates that beleaguered social media giant Facebook is diversifying its product line with a cryptocurrency of its own – Facebook Coin (FBC). Users will have to register to use the coin, but Facebook will guarantee that wallets and transactions will be completely anonymous.
The development has not been officially announced, but reportedly the coin is to be launched on the Ethereum blockchain via an ICO within the next two weeks. Given the size and reach of Facebook, it seems safe to assume that the ICO will rival the 1.2 billion dollars that Telegram raised in its own funding round.

https://www.financemagnates.com/

Bitcoin’s victory

Wall Street Will SoonTrade Virtual Currency

Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.

The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.

The news of the virtual exchange, which has not been reported before, came after Goldman Sachs went public with its intention to open a Bitcoin trading unit — most likely the first of its kind at a Wall Street bank.

The Greatest Bubble in History ?

Bank of America “Kills” Bitcoin for 278th Time

The Bitcoin Bubble is popping… this time for real… because Bank of America says so. For the 278th Time.

Bitcoin is not only the king of cryptos but also the king of bubbles. According to Bloomberg, a study by Bank of America Merrill Lynch on the behavior and evolution of Bitcoin’s prices places it as the most significant asset price bubble in history.

The study compares the price trends of bitcoin with other similar phenomena such as the U.S. stock market in 1929 crash in the Stock Markets, the Mississippi Company, and South Sea Company in the 18th century, the behavior of gold pricing, and the famous Dutch Tulip bubble.

http://www.cryptocurrencynews.com/

Britain unveils new fintech plans, including cryptocurrencies

G20:  no consensus for global regulation of cryptocurrencies

Britain announced a task force on Thursday to exploit the technology underpinning cryptoassets, such as bitcoin and other cryptocurrencies, as part of new plans to help fintech companies find more customers.

British finance minister Philip Hammond said he was committed to helping fintech grow and flourish by taking a series of domestic steps and forging links overseas.

“As part of that, a new task force will help the UK to manage the risks around cryptoassets, as well as harnessing the potential benefits of the underlying technology,” Hammond told a fintech conference hosted by the finance ministry.

Investors have flocked to cryptocurrencies like bitcoin despite wild price swings.

Regulators have warned that investors could lose all their money, but see promise in the blockchain technology that underpins cryptoassets.

Britain’s announcement comes after finance ministers from the Group of 20 richest economies (G20) were unable this week to find enough consensus for global regulation of cryptocurrencies.

http://www.reuters.com

Machines have replaced human stock market traders

Impact on the next financial crisis could be devastating

The February sell-off in stocks demonstrated the impact of automated trading on markets, according to Charles Himmelberg, Goldman Sachs’ cohead of global markets research.
“In this new market structure, machines have replaced humans, and speed has replaced capital,” Himmelberg said in a note.
This new ecosystem dominated by machines has dried up the sources of liquidity that would be needed in the next major wave of selling, he said.
http://www.businessinsider.com

Dow futures tumble over 400 points

Markets: Fasten your seat belts

The Dow has already plummeted more than 1,800 points over the previous two trading sessions. Monday was particularly brutal: the index tumbled a record 1,175 points. The 4.6% plunge was the Dow’s worst day since August 2011 and knocked it into the red for the year.
The tremors also spread to the other side of the globe, with stocks in Asia plummeting overnight. Japan’s Nikkei lost more nearly 5%, while stocks in Hong Kong dropped almost 4%.

http://www.cnn.com...  Febuary 06, 2018

Telegram wants its own blockchain platform and native cryptocurrency

Enormous Initial Coin Offering

Encrypted messaging startup Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and beyond. According to multiple sources which have spoken to TechCrunch, the “Telegram Open Network” (TON) will be a new, ‘third generation’ blockchain with superior capabilities, after Bitcoin and, later, Ethereum paved the way.

The launch will be funded with an enormous Initial Coin Offering, with forthcoming private pre-sales ranging into the hundreds of millions, potentially making it one of the largest ICOs to date. Demand is driven by the fact that rather than the ICO coming from a fresh startup, Telegram is a well-established messaging platform used around the world.

Adopting a homegrown cryptocurrency could give Telegram’s payment system enormous independence from any government or bank — something Co-founder and CEO Pavel Durov is known to covet after investors took over his last company, Russian social network VK. Durov has not responded to TechCrunch’s several attempts to contact him regarding this story.

http://www.techcrunch.com/ … Tue., 16  January 2018

Eastman Kodak unveils cryptocurrency

Stock doubles

Shares of Eastman Kodak Co (KODK.N) more than doubled on Tuesday after the one-time leader in photography became the latest company to jump on the cryptocurrency bandwagon.

The storied Rochester, New York-based company said in a statement it is launching a cryptocurrency called “KODAKCoin” for photographers, part of “KODAKOne,” an image rights management platform in a licensing partnership with WENN Digital.

The platform uses blockchain technology, the backbone of bitcoin and other digital currencies that have surged in recent months and raised fears of a price bubble.

http://reuters.com/ … Wed., 10  January 2018

Wall Street worried by the lack of worry

Some investors are acting as if the market will never go down again

The stock market is sizzling. Companies are touting the bonuses they are giving thanks to lower taxes. And consumers are spending with gusto.
But some experts are worried that a sense of invincibility is starting to creep in among investors. Some are acting as if the market will never go down again.
“Investors are starting to feel a little too overconfident for my liking,” Jamie Cox, managing partner for Harris Financial Group, said in a recent report. “There is a clearly a confidence I haven’t seen in 10 years.”
http://money.cnn.com/ … Tue., 09  January 2018

SEC warns bitcoin, cryptocurrency investors at risk

Investors should “exercise caution”

The U.S. Securities and Exchange Commission warned Thursday that investors should “exercise caution” with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors.

Many promoters of initial coin offerings (ICOs) and other cryptocurrency investments are not following federal and state securities laws, SEC Chairman Jay Clayton and Commissioners Kara Stein and Michael Piwowar said in a statement. While regulators are trying to police these quickly growing markets, the SEC urged investors to be vigilant.

http://reuters.com/ … Fri., 05  January 2018