Goldman Sachs Is Inviting Clients to a Bitcoin Call: Here ...

Bitcoin: The War for the Future - summary of Goldman Sachs all about bitcoin

Bitcoin: The War for the Future - summary of Goldman Sachs all about bitcoin submitted by Matisyahu333 to Bitcoin [link] [comments]

If you're stressed, zoom out - $1k in Top Ten Cryptos of 2019 is up +83%, double that of the S&P

If you're stressed, zoom out - $1k in Top Ten Cryptos of 2019 is up +83%, double that of the S&P

EXPERIMENT - Tracking Top 10 Cryptos of 2019 - Month Twenty - UP +83%
See the full blog post with all the tables here.
tl;dr:
  • purchased $100 of each of Top Ten Cryptos in Jan. 2019, haven't sold or traded. Did the same in 2018 and 2020. Learn more about the history and rules of the Experiments here.
  • August - solid month for the 2019 Top Ten, led by Tron and ETH.
  • Since Jan. 2019 - ETH takes lead from BTC. XRP worst performing since Jan. 1st, 2019
  • Over three years, cryptos outperforming S&P if I'd taken a similar approach.

Month Twenty – UP 83%

2019 Top Ten Overview
Although not quite a strong as red-hot July, the 2019 Top Ten Cryptos had a solid month. Overall, modest losses were offset by strong performances by Tron (+53%) and ETH (+32%).

Question of the month:

In August, this financial services giant filed for a new Bitcoin fund with the U.S. Securities and Exchange Commission (SEC).

A) Goldman Sachs B) Vanguard C) Charles Schwab D) Fidelity
Scroll down for the answer.

Ranking and August Winners and Losers

A whole lot of shaking going on this month as the 2019 Top Ten cryptos jostled for position. XRP, BCH, EOS, and XLM each fell one spot while BSV dropped two. Moving the other direction: Tether climbed up one, and is now back in the #3 position. Thanks to a very strong August, Tron made the most upward progress, advancing two slots to #14.
Only three cryptos have dropped out of the 2019 Top Ten since January 1st, 2019: Tron, Stellar, and EOS. Not bad after 20 months considering crypto’s volatility. As of August, they have been replaced by BNB, CRO, and LINK.
August WinnersTron, with a +53% gain, easily outperformed its peers. Tron was followed by ETH (+32%), a solid follow up to its +55% gain in July.
August LosersThe Forks. BCH and BSV under performed the pack, finishing the month down -17% and -9% respectively.
For overly competitive nerds, here is tally of which coins have the most monthly wins and loses during the first 20 months of the 2019 Top Ten Experiment: Tether is still in the lead with six monthly victories, twice as much as second place BSV and ETH. And although BSV is up over +100% since January 2019, it is running away with the monthly loss count: it has now finished last in eight out of twenty months. Swing trade anyone? XRP still hasn’t been able to take home a single W.
Ws and Ls

Overall update – ETH takes lead from BTC. XRP still worst performing since Jan. 1st, 2019

After three straight months ahead, BTC (+215%) lost its front-runner status to ETH (up +244% since January 2019). A distant third is BSV up +109%. The initial $100 investment in ETH is currently worth $353.
Twenty months in to the 2019 Top Ten Index Fund Experiment, 80% of the 2019 Top Ten cryptos are either flat or in the green. The other two cryptos are in negative territory, including last place XRP (down -19% since January 2019). At +82.5%, the 2019 Top Ten is essentially tied with the 2020 Top Ten, both far ahead of the 2018 group, which is down -71% (but trending upward).

Total Market Cap for the cryptocurrency sector:


Monthly market cap since Jan. 1, 2019
Since January 2019, the total market cap for crypto is up +204%. The overall market picked up nearly $43B in August and is approaching $400B. For the second month in a row, the market is at its highest month-end level since the 2019 Top Ten Experiment started 20 months ago.

Bitcoin dominance:

The last 20 months of BitDom
BitDom‘s wobble in July is nothing compared to the more than 5% dip we saw in August. It had been locked in the mid-60s% range for months, but started dipping in July, signaling a greater appetite for altcoins. Zooming out, the BitDom range since the beginning of the experiment in January 2019 has been between 50%-70%.

Overall return on investment since January 1st, 2019:

The 2019 Top Ten Portfolio gained over $100 in August, nothing like July‘s +$450 but still solid. After the initial $1000 investment, the 2019 group of Top Ten cryptos is worth $1,825. With some generous rounding, that’s up about +83%.
Here’s a look at the ROI over the life of the first 20 months of the 2019 Top Ten Index Fund experiment, month by month:
Month by month ROI of 2019 Top Ten
Unlike the completely red table you’ll see in the 2018 Top Ten Experiment, the 2019 crypto table is almost all green. The first month was the lowest point (-9%), and the highest point (+114%) was May 2019.
At +82.51%, the 2019 Top Ten Portfolio has lost its hard-fought position as the best performing of the three Top Ten Experiments, but just barely (the 2020 Top Ten is up +82.52%)
Speaking of the other Experiments, let’s take a look at how the 2019 Top Ten Index Fund Portfolio compare to the parallel projects:
Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $‭3,937‬ ($287+ $1,825 +$1,825).
That’s up about +31% for the three combined portfolios. It also marks the highest ROI of the three combined portfolios since I started keeping track in January 2020. The previous high was last month‘s +23%.
Here’s a table to help visualize the progress of the combined portfolios:
Combined ROI on $3k
That’s a +31% gain by dropping $1k once a year on whichever cryptos happened to be in the Top Ten on January 1st, 2018, 2019, and 2020.
But what if I’d gone all in on only one Top Ten crypto for the past three years? While many have come and gone over the life of the experiment, five cryptos have remained in Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC. Let’s take a look at those five:
Three year club - ETH out in front
Ethereum (+160%) would have returned the most at this point, followed by BTC (+93%). On the other hand, following this approach with XRP, I would have been down -17%.
Alright, that’s crypto. How does crypto compare to the stock market?

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiments to have a comparison point with more traditional markets. Even with everything that’s going on in the world, the S&P continues adding value and reached an all time high in August. It is now up +40% since January 2019.
Monthly S&P levels since Jan. 2019
The initial $1k investment I put into crypto 20 months ago would be worth $1,400 had it been redirected to the S&P 500 in January 2019.
The 2019 Top Ten portfolio is returning +83% over last 20 months, over double the ROI of the S&P 500 over the same time period.
But what if I took the same world’s-slowest-dollar-cost-averaging/$1,000-per-year-on-January-1st approach with the S&P 500? It would yield the following:
  • $1000 investment in S&P 500 on January 1st, 2018: +$310
  • $1000 investment in S&P 500 on January 1st, 2019: +$400
  • $1000 investment in S&P 500 on January 1st, 2020: +$90
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,800.
That is up over+27% since January 2018, compared to a +31% gain of the combined Top Ten Crypto Experiment Portfolios.
As you can see in the table below, August’s 4% difference in favor of crypto marks the second month in a row the Top Ten Crypto Portfolios have outperformed the S&P had I taken a similar investment approach.

Combined crypto vs. S&P

Conclusion:

Thanks to a strong couple of months, the 2019 Top Ten Portfolio is doing just as well as the 2020 Top Ten group, both of which are far, far ahead of the 2018 Top Ten. Meanwhile, despite the presence of a global pandemic and all the uncertainty associated with an election year, the US stock markets reached all time highs in August. As we approach the fall, I’m buckling up for an unpredictable final stretch of an unpredictable year.
Be safe and take care of each other out there.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the 2020 Top Ten Experiment.

And the Answer is…

D) Fidelity
In August, the SEC published a new filing for a Bitcoin fund, submitted by financial services giant Fidelity.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

Fanboyism, maximalism, interoperabilty, working with others and division of time transcript

Hi everybody, this is Charles Hoskinson broadcasting live from warm sunny Colorado.
I wanted to make a video about division of time. I've been recently making a lot of commentary on the ETC ecosystem. I've also reached out to other ecosystems like the Bitcoin Cash ecosystem, the Litecoin ecosystem for a variety of reasons and I noticed that there are some people in the comments and then telegram and twitter and other places say "oh no" focus 100% of your effort on Cardano! Why are you talking to ETC, why are you doing this and doing that?
So first off I run a big company. I we have over 250 people. About half of those people wake up every day and they're involved in Cardano. The other half are not so. As the CEO of a company where you have that kind of division there's non-Cardano things I do. Cardano's our largest project, we're heavily involved in it and obviously we wake up every day and we want Cardano to be successful and have billions of users and this is why we are following the process we're following. We're building the technology we're building. It's why we work very hard trying to commercialize it.
Every deal we do in Africa, every deal we do in eastern Europe, every deal we do in Asia, we have a Cardano first policy of deploying those deals on that platform and we built that platform to service those deals and as that platform evolves you'll see more use and utility from our sales channels in that respect. That said, one of the pillars of a third generation cryptocurrency is interoperability. It's kind of a silly thing to be a maximalist but then also talk about interoperability. What the hell is the point that? Either you want one chain to rule them all and therefore you don't care at all about talking to other systems or you put your money where your mouth is and you work on those other systems. You build expertise in those systems, you affect changes in those systems so that those systems can partner with our systems and work with our systems.
You know the Samsung CEO? He has a division that every day gets up and works with Apple and they work on the motherboards of the iPhone and build memory for them. Do all kinds of cool things and Samsung's division knows what the iPhone is going to look like before any of us knows. At the same time, there's another division at Samsung that wakes up every day and works on phones like the Galaxy to compete with the iPhone. Great companies have the capacity to do these things and we are a great company in that respect we have different and dedicated teams for different products and projects.
Now, we will never work on overlapping systems. It's not the case that we're going to have developers go and work on Cardano and something that's a direct competitor of Cardano because it makes no competitive sense for that to happen and I do not view ETC as a competitor of Cardano. It's a proof-of-work system, not a proof-of-stake system. It's a code-is-law system, not a world-financial operating system. It's a system that will always have a smaller group of people in it and always have a smaller set of things to do so time spent there with a completely separate team has no bearing or impact on our ability to deliver things with Cardano.
I can't accelerate things above and beyond what the teams can do, for example, today. I'm waiting for Daedalus flight to come out. There is nothing I can do. I can't pick up the phone and call the engineers and say can you ship it 15 minutes faster. The plan, it's been set, the release manager is there, the QA, team's there, everybody knows what to do. There's consensus amongst that team. They're going off to the mountain top, get it done and when it's done they'll let me know and then I'll tweet "new Daedalus is out guys" go play with it and it gives me some work to do of course but until they finish their job there's nothing to do in that respect. The Cardano plans we have are well set , we know exactly what we need to do. Those teams are working hard and I do everything in my power to accelerate things where and when it's safe to do so and everything in my power to get things done.
Shelley, for example. We worked so hard to get that out on July 29th, we had almost unlimited overtime. Everyone worked the weekend. Some people worked over 40 days straight to get that release done. Meanwhile half of the company was doing other things in other capacities and working on those projects. None of their work or the other cryptocurrencies we tend to work with had any bearing or impact on our ability to accelerate or decelerate the Shelley work stream. I just want to make sure everybody understands that and for people who have developed a maximalist mindset to get out of that maximalist mindset. There's a place for maximalism, it's called Bitcoin maximalism. If you live there, go there, okay and go believe in that project, in that chain but this is the Cardano ecosystem. It's going to literally work with hundreds if not thousands of different standards over its life. From central banks to other cryptocurrencies to legacy financial operators from the Chases of the world to the Goldman Sachs' of the world.
Provisions will be made to build special hooks for these systems including interoperability with permission systems. It's very likely in the next 24 months Cardano will be talking to an instance of Hyperledger Fabric from IBM. Very likely that that's going to happen. It's very likely that we'll consult on a project that does that and no way does this diminish the road map or somehow make Cardano less competitive. It's actually quite the opposite. The fact that we can work with those systems, the fact that we can do things with those systems means that the platform as a whole is intrinsically more valuable. It's easier to sell to Fortune 500 companies. It's easier to get use utility and adoption because people understand that they're not being led down the road of vendor lock-in and regressing back to the old days of internet explorer or what ConsenSys is trying to do with Ethereum, trying to lock everybody into one standard, one system, rather the value proposition we offer.
Is true interoperability the ability to move in and out? Furthermore, when you create partnerships with other ecosystems then their success is our success. For example, if the treasury system proposal succeeds in ETC they will be in the market for a permanent treasury system in 2021. We as a community can make the case that we've constructed with Voltaire is a great choice for them and of course we'll try to make that case and if it's successful we provide mutual value and benefit more volume and transactions and activity on the Cardano network, and for ETC they have a best-in-class treasury system that meets the values of that community. The exact same argument can be made for Litecoin, or for Bitcoin cash or for other systems and if you want to see the wrapped Litecoin video that I did earlier in the year it gives a great road map for a potential push there.
Furthermore, what if we turn Daedalus into a multi-currency wallet? That's already going to happen because we have a multi-asset standard and so when people issue tokens on Cardano Daedalus will support those tokens sometime in the future. It would be very easy for us to pull Ethereum classic and Litecoin and Bitcoin cash and other ecosystems into the Daedalus wallet. What does that mean? It means that people who live in that ecosystem will be using our technology as their day-to-day experience in hosting for their token! What does that mean if we have a DEX built into that thing? It potentially could create more adoption in use and utility for ada and this is the point we accomplish so much more working together than beating each other down.
I am damn tired of the cryptocurrency markets as they are. The fanboys, the trolls, the FUD, the maximalism, the relentless allegations that people you disagree with or hold different tokens are scammers or criminals or bad human beings. It's time we as an industry set this aside and grow up. Just grow up or else what's the point? Why would anybody looking from the outside at all of this chaos and noise and insanity and maximalism want to come play in this pool? It's like you're about to enter a bar and you see a bar fight. Do you keep going in or you turn around and walk away and say I don't want that trouble. I'm going to go down the street somewhere else that's safer and so how will we ever get mainstream adoption, how will we ever make the argument to governments that they should trust their elections, their property, perhaps even the money of their people on our systems if we're incapable of entertaining other ideas, other philosophies and other ecosystems? We don't deserve the right for that responsibility if we're not mature enough to have differences of opinion and be able to welcome other ecosystems into our own.
So this video is a call against maximalism first and foremost and second it's a realization that the duties of an executive officer are extensive meaning that there are days I wake up and there are Ethereum days and, by the way, working in that ecosystem gives me and my company exhaustive knowledge on how Ethereum works which allows me then to build a better product than they have and understand where all the bodies are buried: all the flaws in the protocols, the security issues, the performance issues, the smart contract development experience. That intimacy is extremely important to be able to predict, react and also plan a competitive strategy that can take you in a different and better direction.
You just don't live in a mono-culture. It's a bad deal, that's the second point. You have many projects. When you have a larger company, some of those projects are completely separate from each other. Some of those projects may have a bit of overlap. We have a philosophy that we don't work on competing products. For example we have done work with horizon (Horizon2020?) and as a consequence of doing work with them we're probably not going to work on zcash at the same time. As long as we have that relationship there we, for example, work on Cardano so we're not going to go work on another proof-of-stake system that wants to be a financial operating system. That would be a direct competitor. For example, Tezos would be happy to jointly author papers and coordinate collaboration but there needs to be a Cardano benefit in that relationship whereas ETC as I've mentioned is a totally different system and it's something that we have as a company historically worked on for years.
We started our participation in 2016. We built a full client in that process. Did that have any impact on our ability to deliver Cardano? We had a completely separate engineering team. That team was actually sourced from external companies. Scalac and Atix Labs to begin with and then we built on top of it and it had different product and project management and it was completely written with a different group. So it might as well have been a different company for that matter and I just talked to the team but the Cardano team was doing its own thing so I I think we need to just cut it out. Cut out the maximalism, cut out this idea that there is only one truth. We live in a nuanced world and we live in a world of interoperability. We have to embrace that if we wish to be successful and let us be the adults in the room. Let's be the place where this isn't the bar fight and let's be the place that welcomes everybody.
Furthermore, I've noticed some criticism from my own community. When people criticize us and they go to the politics of destruction or personal attacks or yield on criticizing people's intelligence or whatever have you... Cut that out too. Let's be a better community. I repeatedly call upon the Tezos foundation to tell its community to stop criticizing Cardano and calling it's "a scam project". So, I'll call upon my own community, I have seen things that shouldn't have happened. Certain members of Cardano community replying to people over twitter, replying to people who criticize us have resorted to personal attacks and so forth. Again, just ignore them , mute, let's embrace unity, let's embrace being better, yes, occasionally you got to kick people in the teeth especially when people are lying and what you do is you call them out on the lies that they've made. You specifically point out where they have done things that are a bit crazy or disingenuous and dishonest.
For example, we had a meeting today with Ethereum classic and it was blatantly apparent to me that this process has been set up to fail and be exclusive and prevent alternative ideas from a certain power structure from being held. So, I made a 30-minute whiteboard video where I not only called it out but I proposed an alternative and said this is how we're going to transcend that process and get to a much more productive way of doing things. Some of the criticism we have is justified because of product delays or because people don't fully understand who we are and what we're trying to do and obviously there's history there. So, first and foremost, let's reply with facts. First and foremost let's reply with dignity and respect and empathy for the other person's position and you know what? If they continue to push forward then you kick him in the teeth and you say it's obvious you don't want to have a conversation. You're a troll, but to my community please do this and please have this level of respect and dignity with others and with each other.
For example, we right now have a lot of debates with small stake pools versus large stake pools, there's plenty of people floating around with differences of opinion and our mantra should always be disagree without being disagreeable. People are going to have other values people, are gonna have differences of opinion and people are gonna have different perspectives. You can't change that reality nor should you. We all have the right to think and have differences of opinion but we also should expect a dialog that's fair and has empathy in it and so I call upon everybody to preserve that decorum as we move forward and also understand that some days we wake up we have to do things that are non-Cardano related in order for us all to be successful because not all the world will ever be Cardano related. We always need partners whether it be great pieces of hardware like Ledger and Trezor or exchanges to work with different wallets and sometimes those partners do stuff with us and sometimes those partners do things with other people. We have friends, we have projects we admire and respect.
For example, I've expressed repeatedly great admiration for the Algorand project. I think they're doing a phenomenal job and they have great leadership with Silvio Micali. I think the research and the engineering there is top notch. I personally believe Cardano is better. That's because we built it and that's because we think we have a better strategy to market and ultimately the market's going to decide which standards to go with and whether it's going to be many standards or a consolidation. That's not my decision. I just have to wake up every day and fight for the things I believe in. That said, never once have we ever criticized Algorand because they are in essence the model of empathy and dignity and good communication and being very proactive at focusing on solutions when they make announcements. They make announcements about new things that they're doing and new partners that they have and never once have they ever criticized another project or engaged in fanboyism. That's a great community, that's a great project and it's a model for where the space should go and I admire that deeply and greatly especially when you contrast it with other projects that have been less empathetic in their history.
We all have our problems, we all have our issues. I know that we all can be better and so that's my final point. Let's do that. Let's be better as an industry. Let's be a bit friendlier and let's invest the time and effort necessary to really understand and listen to each other because ultimately I think that's going to get us where we need to go and be able to get us to a point where we have that adoption of millions and billions of people and fundamentally change the fabric of society.
Otherwise we will be victims of our own success and descend into tribalism and descend into sectarian violence and then ultimately destroy the entire industry because it will become co-opted by large companies who use a surface-level marketing to take the brand, take the notion of a blockchain but then install centralized authorities behind them and in which case we've lost. I don't want that to happen I want the movement to succeed. I want us to understand each other and I enjoy having great competitors sometimes working with them sometimes fighting them in the battle of the markets, in the markets of ideas and ultimately I think we as a community have a chance to also be a model for everyone else.
So, let's do that. Thank you...
Video: https://www.youtube.com/watch?v=RXQrm18XhQ8
submitted by stake_pool to cardano [link] [comments]

End of day summary - 09/11

The Dow rose 131.06, or 0.48%, to 27,665.64, the Nasdaq lost 66.05, or 0.60%, to 10,853.55, and the S&P 500 advanced 1.78, or 0.05%, to 3,340.97.
Traders at /thewallstreet cheered as volatility returned to the stock market.
The major averages finished Friday's trading in mixed fashion, as dip buyers provided support for the Dow and the continued tech selloff made the Nasdaq the laggard once again. The chances for another round of fiscal stimulus ahead of the election were hurt yesterday after Democrats stopped the passage of the "skinny" GOP package, but the U.S. economy looks poised for a strong rebound in Q3, corporate earnings continue to largely overshoot pessimistic forecasts and the Fed remains "all in," leaving investors to mull the cross-currents.
Similar to the days before, today's price action was technically-oriented given the absence of market-moving news and the losses in stocks like AAPL, -1.3%, AMZN, -1.9%, and MSFT, -0.7% on no specific corporate news. Apple shares fell 7.4% this week.
The difference today was that their losses were offset by relative strength in the cyclical sectors, namely industrials (+1.4%), materials (+1.3%), and financials (+0.8%). Still, when Apple and Amazon are down more than 1.0%, there must be more winners than losers to make a meaningful difference.
There were more of the latter on Friday, as declining issues outpaced advancing issues at the NYSE and Nasdaq. The information technology (-0.8%), consumer discretionary (-0.3%), and communication services (-0.3%) sectors ended the day in negative territory due to their exposure to the mega-cap stocks.
Interestingly, the S&P 500 was down as much as 0.9% intraday and fell below its 50-day moving average (3322). A broad rebound in the afternoon, however, helped the benchmark index turn positive and close above the key technical level.
In TikTok news, President Trump said that the deadline established for China's ByteDance to sell video-sharing service TikTok's U.S. operations would not be extended, Reuters reported. "It'll either be closed up or they'll sell it," the president told reporters, adding, "There will be no extension of the TikTok deadline." MSFT in partnership with WMT and Oracle have been seen as the leading suitors to purchase TikTok's operations in the U.S., Canada, Australia and New Zealand.
Subsequently, Reuters reported that Chinese officials are so opposed to a forced sale of TikTok's U.S. operations that they would prefer to see the app shut down in the U.S. over that conclusion. Reuters noted that China was willing, if needed, to use revisions it made to a technology exports list on Aug. 28 to delay any deal reached by ByteDance.
Electric vehicle hopeful NKLA continued its fight this morning with a short-seller, which now appears to be "short-sellers." Nikola issued a statement in response to claims made about the company by activist short-seller Hindenburg Research yesterday, calling the firm's report "a hit job for short sale profit driven by greed." Nikola, which added that it has "nothing to hide and we will refute these allegations," announced that it has retained law firm Kirkland & Ellis to evaluate potential legal recourse and intends to bring the actions of the short-seller, together with evidence and documentation, to the attention of the SEC. Following the company's press release regarding the response, Andrew Left's Citron Research said via Twitter, "Congrats to Hindenburg for exposing what appears to be a total fraud with $NKLA. Citron will cover half of all legal expenses. You can't SLAPP the truth away. Explains why Milton sold at $10 this June $NKLA response warrants an SEC investigation to maintain integrity of EV mkt." After having dropped 11% on Thursday, Nikola shares fell a further 14.5%.
Meanwhile, CNBC reported that AAPL has updated its App Store guidelines ahead of the release of iOS 14, with one major revision relating to game streaming services. The tech giant said in its revised guidelines that services such as Google Stadia (GOOG) and Microsoft xCloud are explicitly permitted, though under the condition that games offered in the service must be downloaded directly from the App Store, not from an all-in-one app.
Among the noteworthy gainers was Shares of ORCL, which was in focus after the company reported what Barclays analyst Raimo Lenschow called a "surprisingly strong beat" and growth on licenses despite the continued macro uncertainty. NOG, which rose 1.3% after acquiring interests in the Delaware Basin and raising Q3 production guidance. Also higher was CX, which gained 8.3% in New York after Morgan Stanley analyst Nikolaj Lippmann upgraded the stock to Overweight from Equal Weight.
Among the notable losers was AMRS, which dropped 25.8% after responding to a lawsuit filed by Lavvan against the company for patent infringement and trade secret misappropriation. Also lower was CHWY, which declined 9.8% after reporting some cats have tried to take over the company with whiteclaws.
Despite a blowout fiscal Q4 report, PTON were 4.2% lower following last night's from the fitness products and services provider.
Elsewhere stocks were higher, with the Shanghai composite up 0.79% to around 3,260.35 while the Shenzhen component rose 1.57% to about 12,942.95. Hong Kong’s Hang Seng index advanced 0.78% to end its trading day at 24,503.31.

Currency

The U.S. Dollar Index (93.35, +0.01, unch) reclaimed its overnight loss, gaining 0.7% for the week.

Treasury

U.S. Treasuries ended the abbreviated week with modest gains across the curve. The cash session started with some light selling for the second day in a row, but the market recovered from the early dip with ease.

Commodity

Gold slipped on Friday on a lack of further stimulus from the European Central Bank and the U.S. government, but for the week the safe-haven metal was set to end higher. Crude remained on track for a second weekly drop as investors expected a global glut to persist if demand weakens further with rising COVID-19 cases in some countries.

Crypto

Bitcoin is struggling to gather upside traction despite repeated defense of support at $10,000. The top cryptocurrency’s sell-off from the August high of $12,476 looks to have come to a halt near $10,000 over the past seven days.

YTD

  • FAAMG + some penny stocks +21.0% YTD
  • Spoos +3.4% YTD
  • Old man -3.1% YTD
  • Russy -10.3% YTD

CPI

Total CPI increased 0.4% m/m while core CPI, which excludes food and energy, also rose 0.4%. Those gains left total CPI up 1.3% yyr and core CPI up 1.7% yyr.
The key takeaway from the report, which featured the largest increase in the index for used cars and trucks (+5.4%) since March 1969, is that the increase in the all items index was broad-based; nonetheless, annual inflation rates are still running well below 2.0%, so there is still more noise than bothersome policy signal in the August report.

IPO (Most Anticipated)

Week of Sep14-18
  • Company: AMWL Amwell (NYSE) | Leading telehealth company enabling digital delivery of care for healthcare’s key stakeholders | Initial Shares: 35.0 M | Initial Range: $14.00-16.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, Goldman Sachs, Piper Jaffray, UBS, Credit Suisse, Cowen
  • Company: BNL Broadstone Net Lease | REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties | Initial Shares: 33.5 M | Initial Range: $17.00-19.00 | Priced On: NA | Opened: NA | Underwriters: Lead: J.P. Morgan, Goldman Sachs, BMO Capital Markets, Morgan Stanley, Capital One Securities, Truist Securities
  • Company: FROG JFrog (Nasdaq) | Developer of an end-to-end, hybrid, universal DevOps platform | Initial Shares: 11.6 M | Initial Range: $33.00 -37.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, JP Morgan, BofA Securities
  • Company: SNOW Snowflake (NYSE) | Developer of a data cloud platform that enables customers to consolidate data into a single source to drive business insights | Initial Shares: 28.0 M | Initial Range: $75.00-85.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Goldman Sachs, Morgan Stanley, JP Morgan, Allen & Co, Citigroup
  • Company: STEP StepStone Group (Nasdaq) | Global private markets investment firm | Initial Shares: 17.5 M | Initial Range: $15.00-17.00 | Priced On: NA | Opened: NA | Underwriters: Lead: JPMorgan, Goldman Sachs, Morgan Stanley, Barclays, UBS Investment Bank
  • Company: SUMO Sumo Logic (Nasdaq) | Pioneer of Continuous Intelligence, a new category of software, which enables organizations to address opportunities presented by digital transformation and cloud computing | Initial Shares: 14.8 M | Initial Range: $17.00-21.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Morgan Stanley, JP Morgan, RBC Capital, Jefferies
  • Company: U Unity Software (NYSE) | Leading platform for creating and operating interactive, real-time 3D content | Initial Shares: 25.0 M | Initial Range: $34.00-42.00 | Priced On: NA | Opened: NA | Underwriters: Lead: Goldman Sachs, Credit Suisse, BofA, Barclays, William Blair
Week of Sep21-25
  • Company: PLTR Palantir Technologies (NYSE) | Software developer for defense, intelligence agencies, law enforcement, and commercial enterprises | Initial Shares: 244.2 | Initial Range: NA | Priced On: NA | Opened: NA | Underwriters: Lead: Direct Listing

What's next?

Beer o'clock
Summary scraped from the interweb. Took 0.41 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

Meet Brock Pierce, the Presidential Candidate With Ties to Pedophiles Who Wants to End Human Trafficking

thedailybeast.com | Sep. 20, 2020.
The “Mighty Ducks” actor is running for president. He clears the air (sort of) to Tarpley Hitt about his ties to Jeffrey Epstein and more.
In the trailer for First Kid, the forgettable 1996 comedy about a Secret Service agent assigned to protect the president’s son, the title character, played by a teenage Brock Pierce, describes himself as “definitely the most powerful kid in the universe.” Now, the former child star is running to be the most powerful man in the world, as an Independent candidate for President of the United States.
Before First Kid, the Minnesota-born actor secured roles in a series of PG-rated comedies, playing a young Emilio Estevez in The Mighty Ducks, before graduating to smaller parts in movies like Problem Child 3: Junior in Love. When his screen time shrunk, Pierce retired from acting for a real executive role: co-founding the video production start-up Digital Entertainment Network (DEN) alongside businessman Marc Collins-Rector. At age 17, Pierce served as its vice president, taking in a base salary of $250,000.
DEN became “the poster child for dot-com excesses,” raising more than $60 million in seed investments and plotting a $75 million IPO. But it turned into a shorthand for something else when, in October of 1999, the three co-founders suddenly resigned. That month, a New Jersey man filed a lawsuit alleging Collins-Rector had molested him for three years beginning when he was 13 years old. The following summer, three teens filed a sexual-abuse lawsuit against Pierce, Collins-Rector, and their third co-founder, Chad Shackley. The plaintiffs later dropped their case against Pierce (he made a payment of $21,600 to one of their lawyers) and Shackley. But after a federal grand jury indicted Collins-Rector on criminal charges in 2000, the DEN founders left the country. When Interpol arrested them in 2002, they said they had confiscated “guns, machetes, and child pornography” from the trio’s beach villa in Spain.
While abroad, Pierce had pivoted to a new venture: Internet Gaming Entertainment, which sold virtual accessories in multiplayer online role-playing games to those desperate to pay, as one Wired reporter put it, “as much as $1,800 for an eight-piece suit of Skyshatter chain mail” rather than earn it in the games themselves. In 2005, a 25-year-old Pierce hired then-Goldman Sachs banker Steve Bannon—just before he would co-found Breitbart News. Two years later, after a World of Warcraft player sued the company for “diminishing” the fun of the game, Steve Bannon replaced Pierce as CEO.
Collins-Rector eventually pleaded guilty to eight charges of child enticement and registered as a sex offender. In the years that followed, Pierce waded into the gonzo economy of cryptocurrencies, where he overlapped more than once with Jeffrey Epstein, and counseled him on crypto. In that world, he founded Tether, a cryptocurrency that bills itself as a “stablecoin,” because its value is allegedly tied to the U.S. dollar, and the blockchain software company Block.one. Like his earlier businesses, Pierce’s crypto projects see-sawed between massive investments and curious deals. When Block.one announced a smart contract software called EOS.IO, the company raised $4 billion almost overnight, setting an all-time record before the product even launched. The Securities and Exchange Commission later fined the company $24 million for violating federal securities law. After John Oliver mocked the ordeal, calling Pierce a “sleepy, creepy cowboy,” Block.one fired him. Tether, meanwhile, is currently under investigation by the New York Attorney General for possible fraud.
On July 4, Pierce announced his candidacy for president. His campaign surrogates include a former Cambridge Analytica director and the singer Akon, who recently doubled down on developing an anonymously funded, $6 billion “Wakanda-like” metropolis in Senegal called Akon City. Pierce claims to be bipartisan, and from the 11 paragraphs on the “Policy” section of his website it can be hard to determine where he falls on the political spectrum. He supports legalizing marijuana and abolishing private prisons, but avoids the phrase “climate change.” He wants to end “human trafficking.” His proposal to end police brutality: body cams.
His political contributions tell a more one-sided story. Pierce’s sole Democratic contribution went to the short-lived congressional run of crypto candidate Brian Forde. The rest went to Republican campaigns like Marco Rubio, Rick Perry, John McCain, and the National Right to Life Political Action Committee. Last year alone, Pierce gave over $44,000 to the Republican National Committee and more than $55,000 to Trump’s re-election fund.
Pierce spoke to The Daily Beast from his tour bus and again over email. Those conversations have been combined and edited for clarity.
You’re announcing your presidential candidacy somewhat late, and historically, third-party candidates haven’t had the best luck with the executive office. If you don’t have a strong path to the White House, what do you want out of the race?
I announced on July 4, which I think is quite an auspicious date for an Independent candidate, hoping to bring independence to this country. There’s a lot of things that I can do. One is: I’m 39 years old. I turn 40 in November. So I’ve got time on my side. Whatever happens in this election cycle, I’m laying the groundwork for the future. The overall mission is to create a third major party—not another third party—a third major party in this country. I think that is what America needs most. George Washington in his closing address warned us about the threat of political parties. John Adams and the other founding fathers—their fear for our future was two political parties becoming dominant. And look at where we are. We were warned.
I believe, having studied systems, any time you have a system of two, what happens is those two things come together, like magnets. They come into collision, or they become polarized and become completely divided. I think we need to rise above partisan politics and find a path forward together. As Albert Einstein is quoted—I’m not sure the line came from him, but he’s quoted in many places—he said that the definition of insanity is making the same mistake or doing the same thing over and over and over again, expecting a different result. [Ed. note: Einstein never said this.] It feels like that’s what our election cycle is like. Half the country feels like they won, half the country feels like they lost, at least if they voted or participated.
Obviously, there’s another late-comer to the presidential race, and that’s Kanye West. He’s received a lot of flak for his candidacy, as he’s openly admitted to trying to siphon votes away from Joe Biden to ensure a Trump victory. Is that something you’re hoping to avoid or is that what you’re going for as well?
Oh no. This is a very serious campaign. Our campaign is very serious. You’ll notice I don’t say anything negative about either of the two major political candidates, because I think that’s one of the problems with our political system, instead of people getting on stage, talking about their visionary ideas, inspiring people, informing and educating, talking about problems, mentioning problems, talking about solutions, constructive criticism. That’s why I refuse to run a negative campaign. I am definitely not a spoiler. I’m into data, right? I’m a technologist. I’ve got digital DNA. So does most of our campaign team. We’ve got our finger on the pulse.
Most of my major Democratic contacts are really happy to see that we’re running in a red state like Wyoming. Kanye West’s home state is Wyoming. He’s not on the ballot in Wyoming I could say, in part, because he didn’t have Akon on his team. But I could also say that he probably didn’t want to be on the ballot in Wyoming because it’s a red state. He doesn’t want to take additional points in a state where he’s only running against Trump. But we’re on the ballot in Wyoming, and since we’re on the ballot in Wyoming I think it’s safe—more than safe, I think it’s evident—that we are not here to run as a spoiler for the benefit of Donald Trump.
In running for president, you’ve opened yourself up to be scrutinized from every angle going back to the beginning of your career. I wanted to ask you about your time at the Digital Entertainment Network. Can you tell me a little bit about how you started there? You became a vice president as a teenager. What were your qualifications and what was your job exactly?
Well, I was the co-founder. A lot of it was my idea. I had an idea that people would use the internet to watch videos, and we create content for the internet. The idea was basically YouTube and Hulu and Netflix. Anyone that was around in the ‘90s and has been around digital media since then, they all credit us as the creators of basically those ideas. I was just getting a message from the creator of The Vandals, the punk rock band, right before you called. He’s like, “Brock, looks like we’re going to get the Guinness Book of World Records for having created the first streaming television show.”
We did a lot of that stuff. We had 30 television shows. We had the top most prestigious institutions in the world as investors. The biggest names. High-net-worth investors like Terry Semel, who’s chairman and CEO of Warner Brothers, and became the CEO of Yahoo. I did all sorts of things. I helped sell $150,000 worth of advertising contracts to the CEOs of Pepsi and everything else. I was the face of the company, meeting all the major banks and everything else, selling the vision of what the future was.
You moved in with Marc Collins-Rector and Chad Shackley at a mansion in Encino. Was that the headquarters of the business?
All start-ups, they normally start out in your home. Because it’s just you. The company was first started out of Marc’s house, and it was probably there for the first two or three months, before the company got an office. That’s, like, how it is for all start-ups.
were later a co-defendant in the L.A. County case filed against Marc Collins-Rector for plying minors with alcohol and drugs, in order to facilitate sexual abuse. You were dropped from the case, but you settled with one of the men for $21,600. Can you explain that?
Okay, well, first of all, that’s not accurate. Two of the plaintiffs in that case asked me if I would be a plaintiff. Because I refused to be a part of the lawsuit, they chose to include me to discredit me, to make their case stronger. They also went and offered 50 percent of what they got to the house management—they went around and offered money to anyone to participate in this. They needed people to corroborate their story. Eventually, because I refused to participate in the lawsuit, they named me. Subsequently, all three of the plaintiffs apologized to me, in front of audiences, in front of many people, saying Brock never did anything. They dismissed their cases.
Remember, this is a civil thing. I’ve never been charged with a crime in my life. And the last plaintiff to have his case dismissed, he contacted his lawyer and said, “Dismiss this case against Brock. Brock never did anything. I just apologized. Dismiss his case.” And the lawyer said, “No. I won’t dismiss this case, I have all these out-of-pocket expenses, I refuse to file the paperwork unless you give me my out-of-pocket expenses.” And so the lawyer, I guess, had $21,000 in bills. So I paid his lawyer $21,000—not him, it was not a settlement. That was a payment to his lawyer for his out-of-pocket expenses. Out-of-pocket expenses so that he would file the paperwork to dismiss the case.
You’ve said the cases were unfounded, and the plaintiffs eventually apologized. But your boss, Marc Collins-Rector later pleaded guilty to eight charges of child enticement and registered as a sex offender. Were you aware of his behavior? How do you square the fact that later allegations proved to be true, but these ones were not?
Well, remember: I was 16 and 17 years old at the time? So, no. I don’t think Marc is the man they made him out to be. But Marc is not a person I would associate with today, and someone I haven’t associated with in a very long time. I was 16 and 17. I chose the wrong business partner. You live and you learn.
You’ve pointed out that you were underage when most of these allegations were said to take place. Did you ever feel like you were coerced or in over your head while working at DEN?
I mean, I was working 18 hours a day, doing things I’d never done before. It was business school. But I definitely learned a lot in building that company. We raised $88 million. We filed our [form] S-1 to go public. We were the hottest start-up in Los Angeles.
In 2000, you left the country with Marc Collins-Rector. Why did you leave? How did you spend those two years abroad?
I moved to Spain in 1999 for personal reasons. I spent those two years in Europe working on developing my businesses.
Interpol found you in 2002. The house where you were staying reportedly contained guns, machetes, and child pornography. Whose guns and child porn were those? Were you aware they were in the house, and how did those get there?
My lawyers have addressed this in 32 pages of documentation showing a complete absence of wrongdoing. Please refer to my webpage for more information.
[Ed. Note: The webpage does not mention guns, machetes, or child pornography. It does state:“It is true that when the local police arrested Collins-Rector in Spain in 2002 on an international warrant, Mr. Pierce was also taken into custody, but so was everyone at Collins-Rector’s house in Spain; and it is equally clear that Brock was promptly released, and no charges of any kind were ever filed against Brock concerning this matter.”]
What do you make of the allegations against Bryan Singer? [Ed. Note: Bryan Singer, a close friend of Collins-Rector, invested at least $50,000 in DEN. In an Atlantic article outlining Singer’s history of alleged sexual assault and statutory rape, one source claimed that at age 15, Collins-Rector abused him and introduced him to Singer, who then assaulted him in the DEN headquarters.]
I am aware of them and I support of all victims of sexual assault. I will let America’s justice system decide on Singer’s outcome.
In 2011, you spoke at the Mindshift conference supported by Jeffrey Epstein. At that point, he had already been convicted of soliciting prostitution from a minor. Why did you agree to speak?
I had never heard of Jeffrey Epstein. His name was not on the website. I was asked to speak at a conference alongside Nobel Prize winners. It was not a cryptocurrency conference, it was filled with Nobel Prize winners. I was asked to speak alongside Nobel Prize winners on the future of money. I speak at conferences historically, two to three times a week. I was like, “Nobel Prize winners? Sounds great. I’ll happily talk about the future of money with them.” I had no idea who Jeffrey Epstein was. His name was not listed anywhere on the website. Had I known what I know now? I clearly would have never spoken there. But I spoke at a conference that he cosponsored.
What’s your connection to the Clinton Global Initiative? Did you hear about it through Jeffrey Epstein?
I joined the Clinton Global Initiative as a philanthropist in 2006 and was a member for one year. My involvement with the Initiative had no connection to Jeffrey Epstein whatsoever.
You’ve launched your campaign in Minnesota, where George Floyd was killed by a police officer. How do you feel about the civil uprising against police brutality?
I’m from Minnesota. Born and raised. We just had a press conference there, announcing that we’re on the ballot. Former U.S. Senator Dean Barkley was there. So that tells you, when former U.S. Senators are endorsing the candidate, right?
[Ed. note: Barkley was never elected to the United States Senate. In November of 2002, he was appointed by then Minnesota Governor Jesse Venture to fill the seat after Sen. Paul Wellstone died in a plane crash. Barkley’s term ended on Jan. 3, 2003—two months later.]
Yes, George Floyd was murdered in Minneapolis. My vice-presidential running mate Karla Ballard and I, on our last trip to Minnesota together, went to visit the George Floyd Memorial. I believe in law and order. I believe that law and order is foundational to any functioning society. But there is no doubt in my mind that we need reform. These types of events—this is not an isolated incident. This has happened many times before. It’s time for change. We have a lot of detail around policy on this issue that we will be publishing next week. Not just high-level what we think, not just a summary, but detailed policy.
You said that you support “law and order.” What does that mean?
“Law and order” means creating a fair and just legal system where our number one priority is protecting the inalienable rights of “Life, Liberty and the pursuit of Happiness” for all people. This means reforming how our police intervene in emergency situations, abolishing private prisons that incentivize mass incarceration, and creating new educational and economic opportunities for our most vulnerable communities. I am dedicated to preventing crime by eliminating the socioeconomic conditions that encourage it.
I support accountability and transparency in government and law enforcement. Some of the key policies I support are requiring body-cams on all law enforcement officers who engage with the public, curtailing the 1033 program that provides local law enforcement agencies with access to military equipment, and abolishing private prisons. Rather than simply defund the police, my administration will take a holistic approach to heal and unite America by ending mass incarceration, police brutality, and racial injustice.
Did you attend any Black Lives Matter protests?
I support all movements aimed at ending racial injustice and inequality. I​ have not attended any Black Lives Matter protests.​ My running-mate, Karla Ballard, attended the March on Washington in support of racial justice and equality.
Your platform doesn’t mention the words “climate change.” Is there a reason for that?
I’m not sure what you mean. Our policy platform specifically references human-caused climate change and we have a plan to restabilize the climate, address environmental degradation, and ensure environmental sustainability.
[Ed. Note: As of writing the Pierce campaign’s policy platform does not specifically reference human-caused climate change.]
You’ve recently brought on Akon as a campaign surrogate. How did that happen? Tell me about that.
Akon and I have been friends for quite some time. I was one of the guys that taught him about Bitcoin. I helped make some videogames for him, I think in 2012. We were talking about Bitcoin, teaching him the ropes, back in 2013. And in 2014, we were both speaking at the Milken Global Conference, and I encouraged him to talk about how Bitcoin, Africa, changed the world. He became the biggest celebrity in the world, talking about Bitcoin at the time. I’m an adviser to his Akoin project, very interested in the work that he’s doing to build a city in Africa.
I think we need a government that’s of, for, and by the people. Akon has huge political aspirations. He obviously was a hugely successful artist. But he also discovered artists like Lady Gaga. So not only is he, himself, a great artist, but he’s also a great identifier and builder of other artists. And he’s been a great businessman, philanthropist. He’s pushing the limits of what can be done. We’re like-minded individuals in that regard. I think he’ll be running for political office one day, because he sees what I see: that we need real change, and we need a government that is of, for, and by the people.
You mentioned that you’re an adviser on Akoin. Do you have any financial investments in Akoin or Akon City?
I don’t believe so. I’d have to check. I have so much stuff. But I don’t believe that I have any economic interests in his stuff. I’d have to verify that. We’ll get back to you. I don’t believe that I have any economic interests. My interest is in helping him. He’s a visionary with big ideas that wants to help things in the world. If I can be of assistance in helping him make the world a better place, I’m all for it. I’m not motivated by money. I’m not running for office because I’m motivated by power. I’m running for office because I’m deeply, deeply concerned about our collective future.
You’ve said you’re running on a pro-technology platform. One week into your campaign last month, a New York appeals court approved the state Attorney General’s attempt to investigate the stablecoin Tether for potentially fraudulent activity. Do you think this will impact your ability to sell people on your tech entrepreneurship?
No, I think my role in Tether is as awesome as it gets. It was my idea. I put it together. But I’ve had no involvement in the company since 2015. I gave all of my equity to the other shareholders. I’ve had zero involvement in the company for almost six years. It was just my idea. I put the initial team together. But I think Tether is one of the most important innovations in the world, certainly. The idea is, I digitized the U.S. dollar. I used technology to digitize currency—existing currency. The U.S. dollar in particular. It’s doing $10 trillion a year. Ten trillion dollars a year of transactional volume. It’s probably the most important innovation in currency since the advent of fiat money. The people that took on the business and ran the business in years to come, they’ve done things I’m not proud of. I’m not sure they’ve done anything criminal. But they certainly did things differently than I would do. But it’s like, you have kids, they turn 18, they go out into the world, and sometimes you’re proud of the things they do, and sometimes you shake your head and go, “Ugh, why did you do that?” I have zero concerns as it relates to me personally. I wish they made better decisions.
What do you think the investigation will find?
I have no idea. The problem that was raised is that there was a $5 million loan between two entities and whether or not they had the right to do that, did they disclose it correctly. There’s been no accusations of, like, embezzlement or anything that bad.
[Ed. Note: The Attorney General’s press release on the investigation reads: “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds.”]
But there’s been some disclosure things, that is the issue. No one is making any outrageous claims that these are people that have done a bunch of bad—well, on the internet, the media has said that the people behind the business may have been manipulating the price of Bitcoin, but I don’t think that has anything to do with the New York investigation. Again, I’m so not involved, and so not at risk, that I’m not even up to speed on the details.
[Ed note: A representative of the New York State Attorney General told Forbes that he “cannot confirm or deny that the investigation” includes Pierce.]
We’ve recently witnessed the rise of QAnon, the conspiracy theory that Hollywood is an evil cabal of Satanic pedophiles and Trump is the person waging war on them. You mentioned human trafficking, which has become a cause for them. What are your thoughts on that?
I’ve watched some of the content. I think it’s an interesting phenomenon. I’m an internet person, so Anonymous is obviously an organization that has been doing interesting stuff. It’s interesting. I don’t have a big—conspiracy theory stuff is—I guess I have a question for you: What do you think of all of it, since you’re the expert?
You know, I think it’s not true, but I’m not running for president. I do wonder what this politician [Georgia congressional candidate Marjorie Taylor Greene], who’s just won her primary, is going to do on day one, once she finds out there’s no satanic cabal room.
Wait, someone was running for office and won on a QAnon platform, saying that Hollywood did—say what? You’re the expert here.
She won a primary. But I want to push on if we only have a few minutes. In 2006, your gaming company IGE brought on Steve Bannon as an investor. Goldman later bought out most of your stock. Bannon eventually replaced you as CEO of Affinity. You’ve described him as your “right-hand man for, like, seven years.” How well did you know Bannon during that time?
Yes, so this is in my mid-twenties. He wasn’t an investor. He worked for me. He was my banker. He worked for me for three years as my yield guide. And then he was my CEO running the company for another four years. So I haven’t worked with Steve for a decade or so. We worked in videogame stuff and banking. He was at Goldman Sachs. He was not in the political area at the time. But he was a pretty successful banker. He set up Goldman Sachs Los Angeles. So for me, I’d say he did a pretty good job.
During your business relationship, Steve Bannon founded Breitbart News, which has pretty consistently published racist material. How do you feel about Breitbart?
I had no involvement with Breitbart News. As for how I feel about such material, I’m not pleased by any form of hate-mongering. I strongly support the equality of all Americans.
Did you have qualms about Bannon’s role in the 2016 election?
Bannon’s role in the Trump campaign got me to pay closer attention to what he was doing but that’s about it. Whenever you find out that one of your former employees has taken on a role like that, you pay attention.
Bannon served on the board of Cambridge Analytica. A staffer on your campaign, Brittany Kaiser, also served as a business director for them. What are your thoughts on their use of illicitly-obtained Facebook data for campaign promotional material?
Yes, so this will be the last question I can answer because I’ve got to be off for this 5:00 pm. But Brittany Kaiser is a friend of mine. She was the whistleblower of Cambridge Analytica. She came to me and said, “What do I do?” And I said, “Tell the truth. The truth will set you free.”
[Ed. Note: Investigations in Cambridge Analytica took place as early as Nov. 2017, when a U.K. reporter at Channel 4 News recorded their CEO boasting about using “beautiful Ukranian girls” and offers of bribes to discredit political officials. The first whistleblower was Christopher Wylie, who disclosed a cache of documents to The Guardian, published on Mar. 17, 2018. Kaiser’s confession ran five days later, after the scandal made national news. Her association with Cambridge Analytica is not mentioned anywhere on Pierce’s campaign website.]
So I’m glad that people—I’m a supporter of whistleblowers, people that see injustice in the world and something not right happening, and who put themselves in harm’s way to stand up for what they believe in. So I stand up for Brittany Kaiser.
Who do you think [anonymous inventor of Bitcoin] Satoshi Nakamoto is?
We all are Satoshi Nakamoto.
You got married at Burning Man. Have you been attending virtual Burning Man?
I’m running a presidential campaign. So, while I was there in spirit, unfortunately my schedule did not permit me to attend.
OP note: please refer to the original article for reference links within text (as I've not added them here!)
submitted by Leather_Term to Epstein [link] [comments]

Solution Life - New payments solution

Solution Life - New payments solution
Solution Life is an open-source platform that enables to create peer-to-peer marketplace and ecommerce applications.
https://preview.redd.it/ypmpkfwnb6s51.png?width=613&format=png&auto=webp&s=6936dbdd70f1626bb352a426f3b59383b8b8c9cc
Solution Life aims at building a global sharing economy, allowing buyers and sellers to use segments of goods and services (car sharing, service missions, home sharing, etc.) to transact on the open, distributed source web. Using Ethereum blockchain and Interplanetary File System (IPFS), the platform and its participants can interact with the peer-to-peer model, allowing the creation and placement of services and goods without going through traditional middle parties. We plan to build a large-scale commercial network:
• Exchange financial value directly (listing, transactions and service fees) from big corporations like Airbnb, Craigslist, Postmate, ... to individual buyers and retailers.
• Exchange financial value and strategic value (internal aggregation of customer and transaction data) from similar corporations to entire ecosystems
• Create new financial value for market participants who contribute to platform development (e.g. building new technology for the Solution Life platform, developing new vertical products and introducing new users and businesses)
• Build the open, distributed, and shared data layer to promote transparency and collaboration
• Allow the buyers and sellers in the world to transact without difficulty in converting currencies or tariffs
• Promote personal freedom by not allowing a corporation or central government to impose arbitrary and overly conventional rules of business operation. To conduct these ambitious goals, we created the Solution Life Platform with programs that encourage technologists, businesses and consumers to build, contribute, and expand the ecosystem. We plan to build a broad collection of vertical industry applications (e.g. short vacation rental, free software engineering, tutoring) built on standards and data sharing Solution Life. When writing this article, the Solution Life platform is currently in Mainnet Beta. Platform Version 1.0 is expected to be activated in Quarter 3/2020. While the majority of engineering work is being done by the core engineering team, we expect future developments, after launching platform 1.0 from developer, will come to open source community members Together, we will create the Internet economy of the future.
Details of Whitepaper:
• Why is a new model of peer to peer trading necessary?
• Benefits proposed on the Solution Life Platform
• Product strategy, main features and technical overview
• Overview of the Solution Life team and community
https://preview.redd.it/tzepfegpb6s51.png?width=759&format=png&auto=webp&s=62c9933e84e9945b5417591e406390d127fa1070
BACKGROUND
Since the appearance of the Internet, the digital marketplace has connected buyers and sellers of goods and services, allowing transactions that have never happened before. Craigslist launched in 1995 and dominated for many years in local and regional commerce. At the same time, eBay began to grow and create a whole new category of sales based on auction, creating a more efficient way of doing market business. Through 20 years of rapid change, many businesses on the Internet market in both B2C and B2B types have developed strongly. Currently, sharing economy markets such as Airbnb, Uber, Getaround, Fiverr and TaskRmus have been very successful in combining buyers and sellers of the sharing economy. Now, the use of distributed assets can be sold as easily as atomic items, and people around the world are exchanging their excess inventory, time, and skills for profit. New markets including the Gig economy, the service sector and the use of segment assets are particularly suitable to be basis for peer-to-peer systems built on blockchain. Most of the shared economic enterprises have some common points. Firstly, as a collection, these companies have made a big impact on the world. Consumers of the markets were able to improve their lives with access to products and services that they didn't have before. Vendors have been using these platforms to reach customers on a larger and easier scale than before. Each market creates a "private home" for consumers and suppliers to transact together, creating liquidity for that market. Secondly, most sharing economic enterprises follow the same growth cycle. Without a few exceptions, these famous markets are difficult to launch and grow. Enterprises in the market often have to start building with millions of dollars, and in terms of Uber and Airbnb, these two businesses spend billions of dollars to scale. That is also the reason why these businesses suffered serious losses in the early days. In fact, the corporation is subsidizing the use of marketplace for its users. However, due to the very positive cross-network effect, successful marketplace businesses can increase revenue exponentially over time, usually by charging a fee per transaction on the network. Network-effect enterprises, such as share economy market, are often enterprises occupying all directions and growing stage, gaining a disproportionate value from the network for corporation’s management and their shareholders. In many ways, they become the only dictator on the scale they achieve. Finally, although there are huge differences in user experience, business mechanics, and vertical specific features among companies on the Internet market, they all share many parts built and rebuild many times. Lyft, Postmate, and DoorDash themselves has designed their own solutions for user and supplier profiles, shopping experiences, matching algorithms, reviews, and ratings. This is proprietary technology that is valuable on one side. On the other hand, chasing useless things each time creates a new market vertically wasted time and effort. Consumers also create and manage dozens of accounts on these market enterprises themselves, each with their own personal data and transaction history.
In the last few years, blockchain technology innovators and investors have called teams to build peer-topeer versions of businesses in the current sharing economy and to trade the Internet in a more efficient way. P2P lodging sites like Airbnb have already begun to transform the lodging industry by making a public market in private housing. However, adoption may be limited by concerns about safety and security (guests) and property damage (hosts). By enabling a secure, tamper-proof system for managing digital credentials and reputation, we believe blockchain could help accelerate the adoption of P2P lodging and generate.” - Goldman Sachs Research (Blockchain: Putting Theory into Practice) Don Tapscott, the author of the "Blockchain Revolution", said that Bitcoin-based technology could be used to promote the interest in Uber and Airbnb. - The Wall Street Journal "It is difficult for middle parties to achieve sustainable growth in business," [Fritz Joussen] said. "These platforms [tourism middle parties] build accessibility by spending billions of dollars on advertising, and then they generate exclusive profits based on what they have with sales and marketing. They provide great sales and marketing services. Booking.com is a big brand but they make outstanding profits because they own proprietary structures. Blockchain will destroy this. "- Skift However, most of the infrastructure and transmission systems for building distributed-market applications did not exist before Solution Life was born. We aim to address the shortcomings of current market companies and are happy that we have launched the Solution Life Platform, which opens up peer-to-peer commerce with corresponding scale.
📷
ACTIVATE THE OVER THE COUNTER MARKET
Our vision is to build and develop a free service exchange on the new Internet. In order to do this, we have to build a simulation platform of most, if not all, of the functionality of a third-party intermediary on the blockchain and other distribution systems. This is an ambitious and technologically challenging goal, but we have already completed important milestones that demonstrate our technology and the realworld applications of the project. The Solution Life platform has 3 main elements, all of which are open sources:
• Solution Life enabled end user applications
• Solution Life platform for developers
• Solution Life's application protocol
Solution Life enables end user applications The Solution Life flagship marketplace app is our consumer marketplace product that allows buyers and sellers on the network to do business. It is available today on the web at shopSolution Life.com and on both iOS and Android mobile devices.
📷
Summary
For the past two decades, Internet marketplaces and e-commerce stores have changed the way that buyers and sellers connect, creating new opportunities for the exchange of goods and services. However, these marketplaces have always been governed by centralized companies that maintain their individual monopolies on data, transaction and other service fees, and ultimately, user choice. With blockchain and other distributed technologies beginning to hit the mainstream, the world is poised for a new wave of decentralized commerce. SLC is bringing change and innovation to the global peer-to-peer economy. We're excited by the opportunity to lower fees, increase innovation, free customer and transaction data, and decrease censorship and unnecessary regulation. We are building a platform that invites other interested parties including developers and entrepreneurs to build this technology and community with us, altogether working to create the peer-to-peer economy of tomorrow. We hope you’ll join us on this exciting journey.
TOKEN SOLUTION LIFE (SLC)
The Solution Life Token (also known as SLC) is a utility token that serves multiple purposes in ensuring the health and growth of the network. The ERC20 contract is live on the Ethereum network today at:
0x4d44D6c288b7f32fF676a4b2DAfD625992f8Ffbd.
At a high level, this token is intended to serve a number of key functions on the platform. First, the SLC is a multi-purpose incentive token that is intended to drive the behavior of end users, developers, market operators, and other ecosystem participants. Additionally, the SLC is an exchange intermediary that can be used for payments between buyers and sellers on the platform. Ultimately, it is intended that SLC will serve a vital part in future network governance. Since November 2020, the Solution Life token has been used to encourage various forms of participation from the platform's ecosystem participants. Token Solution Life is used to reward users, developers, marketplace operators and / or other participants for performing activities and services conducive to Platform development. Solution Life Rewards Solution Life is an incentive program targeted at end users on the Platform. Buyers and sellers on the platform have been able to earn SLC since our inaugural Solution Life Rewards campaign in Nov of 2020. Solution Life Rewards enables everyone to have a stake in the network. We’ve intentionally designed the program so that even novice, non-technical users can participate. With Solution Life Rewards, users can get SLC from account creation and identity verification. One of the best ways to network is through referrals. As such, end users can also earn tokens by inviting new users. This creates more confidence between the buyer and the seller. Users can also earn SLC by following Solution Life's social networking sites or promoting project news on public channels.
To encourage trading volume on our Solution Life Platform, we also offer a refund mechanism for users who purchase from reputable sellers on our network. Solution Life Commissions Encouraging marketplace developers and managers to use the Solution Life platform is essential. Therefore, we launched an advertising and promotion program, creating an integrated business model for the decentralized marketplace running on Solution Life. Merchants on Solution Life apps can promote their listings using SLCs for greater visibility on search and browse results on our preferred and partner apps. The only way to join this program is to pay with SLC. When a merchant creates a listing, they can add a commission paid in SLC to their listing. This SLC is placed on escrow in the Marketplace Smart Contract.
submitted by slctoken to u/slctoken [link] [comments]

SeeSaw Day

For Trading September 25TH
Seesaw Day!
COST Beats But Sells Off
ABSOLUTE LUNACY
Today’s market started off on the downside couldn’t get going and rallied, couldn’t make much headway and reversed again and closed pretty much unchanged. Really a “much ado about nothing. The Close was DJIA +52.31 (.20%), NASDAQ +39.28 (.37%), S&P 500 +9.67 (.30%), the Russell +.03, and DJ Transports +22.39 (.20%). Market internals were just 1:1 in NYSE and 1.4:1 down on NASDAQ. Volume was slightly higher. DJIA was split 17:13 UP with the only major movers were GS +59 DPs and BA -34 DP’s. The Continuing claims were 12,580,000 and initial claims 870,000. Both numbers were slightly higher than forecast, but within a reasonable range. They really didn’t have much effect on the market. Later in the morning New Home sales came in at +4.8% vs. -.03 expected. That number was a major expansion and well over forecast with the south being the biggest gainer, +13.4%.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 3000 members. I also returned to my radio show today with a great live interview with the Chief Medical Officer of JANONE (JAN) and it was a great show. This is the link to the audio recording including my discussion of the market and the very exciting story of JAN’s phenomenal NON-OPIOID Pain Med! This is the link: https://www.youtube.com/watch?v=oCFCxnijFO4 Enjoy!!
TUESDAY’S RADIO SHOW: https://youtu.be/dJGunoIqLZU v With my guest: David Weinstein on Bio-Hacking !!
Tonight’s closing comment video: https://youtu.be/cHWJRLSdfMs
SECTORS: Goldman Sachs got an upgrade from UBS and the stock reacted well, closing $195.11 +8.99 (4.8%) and as mentioned above, the biggest gainer in the DJIA. WFC was also picked by Baird as its “fresh pick” whatever that means and was up a meager .49 @ $23.32. COSTCO (COST) reported great earnings and record sales but after a jump from $347 +2.37 it hit $354.16 but turned back and fell as far as $334 before closing $338.75 -5.88 (1.7%). SPI, yesterday’s EV star, which hit $46.67 before closing $14.00 had a range of $28.71 to $12.50 and closed $13.10 -.90; but today’s magic word deal was SUNW which yesterday made a statement about doing EV busines moved from $ .77 to $4.57 before closing $1.16 got better traction today and ran up to $8.50 before closing $3.93 +2.77 or 238%. New Group:
AIR & CRUISE LINES were LOWER with CCL -.23, RCL -.74, NCHL -.23, AAL unch., DAL -.16, LUV -.35, UAL +.19, HA -.41, ALK -.58 and XTN $57.27 -.23 (.40%).
FOOD SUPPLY CHAIN was HIGHER with TSN -.09, BGS +.95, FLO +.25, CPB +1.25, CAG +.77, MDLZ +.79, KHC +.17, CALM +.75, JJSF +1.01, SAFM +2.11, HRL +.62, SJM +2.58, PPC -.04, KR +.17, and PBJ $31.98 +.30 (.95%).
BIOPHARMA was LOWER with BIIB -2.,16, ABBV -.96, REGN -7.73, ISRG +.12, GILD -.61, MYL -.07, TEVA +.07, VRTX +.18, INCY -.90, ICPT +.47, LABU -1.48, and IBB $130.84 -1.24 (.94%). CANNABIS: was MIXED with TLRY +.10, CGC -.15, CRON +.10, GWPH -1.50, ACB +.,07, NBEV +.05, CURLF -.19, KERN -.23, and MJ..unchanged.
DEFENSE was LOWER with LMT -3.24, GD +.99, TXT -.12, NOC -3.06, BWXT -.95, TDY +.31, RTX -.35, and ITA $155.25 -1.45 (.93%).
RETAIL: was LOWER with M -.01, JWN +.04, KSS -.01, DDS -1.01, WMT +1.49, TGT +.81, TJX +.10, RL -.31, UAA -.33, LULU -.57, TPR -.25, CPRI -.18 and XRT $48.53 -.75 (1.52%).
MEGA-CAPS & FAANG were HIGHER with GOOGL +13.47, AMZN +498.01, AAPL +1.88, FB +2.41, NFLX +6.41, NVDA +14.05, TSLA +13.39, BABA -2.31, BIDU +1.13, CMG -17.28, CRM +4.01, BA -3.88, CAT +1.62, DIS -.03, and XLK $112.31 +1.65 (1.49%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES.
FINANCIALS were HIGHER with GS +9.88, JPM +.55, BAC +.20, MS +.58, C +.53, PNC +.97, AIG +.07, TRV +.33, AXP +,.04, V +.63, and XLF $23.25 +.05 (.22%).
OIL, $40.31 + .38, Oil was higher all day. I am looking for about another $1.00 or so before I would consider selling it for a correction. The stocks were HIGHER with XLE $30.20 -.01 (.03%).
GOLD $1,876.90 +8.50, opened LOWER but and gave up most of the recent gains and finished well off the low but substantially lower. I have closed out the NEM calls at a loss. I will take another look after I’ve seen some sideways action.
BITCOIN: closed $10,670 +390. After breaking out over $10,000 we have had a “running correction” pushing prices toward $12,000, reaching a recovery high of $12220 Thursday, and after a day of rest in between, we resumed the rally touching $12,635, but have sold off back to support. We had 750 shares of GBTC and sold off 250 last week at $13.93 and still have 500 with a cost of $8.45. GBTC closed $11.17 +.56 today.
Tomorrow is another day.
CAM
submitted by Dashover to OptionsOnly [link] [comments]

Seesaw Day

For Trading September 25TH
Seesaw Day!
COST Beats But Sells Off
ABSOLUTE LUNACY
Today’s market started off on the downside couldn’t get going and rallied, couldn’t make much headway and reversed again and closed pretty much unchanged. Really a “much ado about nothing. The Close was DJIA +52.31 (.20%), NASDAQ +39.28 (.37%), S&P 500 +9.67 (.30%), the Russell +.03, and DJ Transports +22.39 (.20%). Market internals were just 1:1 in NYSE and 1.4:1 down on NASDAQ. Volume was slightly higher. DJIA was split 17:13 UP with the only major movers were GS +59 DPs and BA -34 DP’s. The Continuing claims were 12,580,000 and initial claims 870,000. Both numbers were slightly higher than forecast, but within a reasonable range. They really didn’t have much effect on the market. Later in the morning New Home sales came in at +4.8% vs. -.03 expected. That number was a major expansion and well over forecast with the south being the biggest gainer, +13.4%.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 3000 members. I also returned to my radio show today with a great live interview with the Chief Medical Officer of JANONE (JAN) and it was a great show. This is the link to the audio recording including my discussion of the market and the very exciting story of JAN’s phenomenal NON-OPIOID Pain Med! This is the link: https://www.youtube.com/watch?v=oCFCxnijFO4 Enjoy!!
TUESDAY’S RADIO SHOW: https://youtu.be/dJGunoIqLZU v With my guest: David Weinstein on Bio-Hacking !!
Tonight’s closing comment video: https://youtu.be/cHWJRLSdfMs
SECTORS: Goldman Sachs got an upgrade from UBS and the stock reacted well, closing $195.11 +8.99 (4.8%) and as mentioned above, the biggest gainer in the DJIA. WFC was also picked by Baird as its “fresh pick” whatever that means and was up a meager .49 @ $23.32. COSTCO (COST) reported great earnings and record sales but after a jump from $347 +2.37 it hit $354.16 but turned back and fell as far as $334 before closing $338.75 -5.88 (1.7%). SPI, yesterday’s EV star, which hit $46.67 before closing $14.00 had a range of $28.71 to $12.50 and closed $13.10 -.90; but today’s magic word deal was SUNW which yesterday made a statement about doing EV busines moved from $ .77 to $4.57 before closing $1.16 got better traction today and ran up to $8.50 before closing $3.93 +2.77 or 238%. New Group:
AIR & CRUISE LINES were LOWER with CCL -.23, RCL -.74, NCHL -.23, AAL unch., DAL -.16, LUV -.35, UAL +.19, HA -.41, ALK -.58 and XTN $57.27 -.23 (.40%).
FOOD SUPPLY CHAIN was HIGHER with TSN -.09, BGS +.95, FLO +.25, CPB +1.25, CAG +.77, MDLZ +.79, KHC +.17, CALM +.75, JJSF +1.01, SAFM +2.11, HRL +.62, SJM +2.58, PPC -.04, KR +.17, and PBJ $31.98 +.30 (.95%).
BIOPHARMA was LOWER with BIIB -2.,16, ABBV -.96, REGN -7.73, ISRG +.12, GILD -.61, MYL -.07, TEVA +.07, VRTX +.18, INCY -.90, ICPT +.47, LABU -1.48, and IBB $130.84 -1.24 (.94%). CANNABIS: was MIXED with TLRY +.10, CGC -.15, CRON +.10, GWPH -1.50, ACB +.,07, NBEV +.05, CURLF -.19, KERN -.23, and MJ..unchanged.
DEFENSE was LOWER with LMT -3.24, GD +.99, TXT -.12, NOC -3.06, BWXT -.95, TDY +.31, RTX -.35, and ITA $155.25 -1.45 (.93%).
RETAIL: was LOWER with M -.01, JWN +.04, KSS -.01, DDS -1.01, WMT +1.49, TGT +.81, TJX +.10, RL -.31, UAA -.33, LULU -.57, TPR -.25, CPRI -.18 and XRT $48.53 -.75 (1.52%).
MEGA-CAPS & FAANG were HIGHER with GOOGL +13.47, AMZN +498.01, AAPL +1.88, FB +2.41, NFLX +6.41, NVDA +14.05, TSLA +13.39, BABA -2.31, BIDU +1.13, CMG -17.28, CRM +4.01, BA -3.88, CAT +1.62, DIS -.03, and XLK $112.31 +1.65 (1.49%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES.
FINANCIALS were HIGHER with GS +9.88, JPM +.55, BAC +.20, MS +.58, C +.53, PNC +.97, AIG +.07, TRV +.33, AXP +,.04, V +.63, and XLF $23.25 +.05 (.22%).
OIL, $40.31 + .38, Oil was higher all day. I am looking for about another $1.00 or so before I would consider selling it for a correction. The stocks were HIGHER with XLE $30.20 -.01 (.03%).
GOLD $1,876.90 +8.50, opened LOWER but and gave up most of the recent gains and finished well off the low but substantially lower. I have closed out the NEM calls at a loss. I will take another look after I’ve seen some sideways action.
BITCOIN: closed $10,670 +390. After breaking out over $10,000 we have had a “running correction” pushing prices toward $12,000, reaching a recovery high of $12220 Thursday, and after a day of rest in between, we resumed the rally touching $12,635, but have sold off back to support. We had 750 shares of GBTC and sold off 250 last week at $13.93 and still have 500 with a cost of $8.45. GBTC closed $11.17 +.56 today.
Tomorrow is another day.
CAM
submitted by Dashover to u/Dashover [link] [comments]

The World is F'ed . This former Goldman Sachs fund manager suggest allocating 25% in Bitcoin

[It is behind the pay wall : https://www.businessinsider.com/why-coronavirus-stock-market-crash-historic-not-finished-raoul-pal-2020-4]

So copy / paste :

"The whole world's f---ed."
That's what Raoul Pal, the former hedge-fund manager who founded Real Vision, said on the "Lindzanity" podcast when he initially learned the coronavirus was uncontrolled and spreading rapidly.
"The moment the spread hit Iran ... and then Italy — that all happened over the span of three or four days — I was like: 'time to panic before everybody else,'" he said. "It's human behavior function. If the Chinese closed every single border and every city, everybody's going to do it."
To bring you up to speed, Pal retired at 36 after quitting jobs at Goldman Sachs and GLG Partners. He lives comfortably on a 140-person island in the Cayman Islands and spends his days writing market research, which comes with a hefty price tag of $40,000 per year.
"I said: 'Listen, this is the biggest economic event of all of our lifetimes — and it's coming'" he added. "And that was, in retrospect, the greatest call I've ever had."
But this isn't the first time Pal's nailed a prescient call. Back in October, he said the Federal Reserve needed to cut interest rates to zero and warned of negative interest rates in the US, both of which have materialized.
What's more, as the market was topping out in late February, Pal expressed his affinity for owning bonds — a trade that would've immensely rewarded investors who took his advice. He also warned that the implications from the coronavirus would be "meaningful and real."
That was before things really started to fall apart.
Today, Pal thinks the coronavirus will cause "the largest insolvency event in all history." And given his track record as of late, that's not reassuring.
"I think the balance of probabilities are that this is a much longer event — in terms of economic impacts — than anybody is pricing in," he said. "I think it's a huge societal change that's coming from all of this."
To Pal, the duration of the fallout stemming from the coronavirus is the key factor here — one that he thinks investors aren't paying enough attention to. In his mind, those who are a projecting sharp V-shaped recovery in the third and forth quarter are incorrect in their assumptions.
"Isolation is going to be a real event for a significant period of time," he said. "You've got a world that's going to be much more closed, and that's leading to complications in supply chains."
He added: "It makes people become more local."
Pal's prognostication echos that of billionaire "bond king" Jeffrey Gundlach. In a DoubleLine webcast earlier this week, Gundlach said "we're going to be getting much more, less-connected to globalization" and "we're going to be bringing manufacturing back and thinking about things in very different ways."
But the changes that Pal and Gundlach highlight don't happen overnight, which is why Pal thinks the fallout could worsen. Every day that the pandemic drags on is one less day without production and consumption. Then that, in turn, heightens bankruptcy risk.
With all of that under consideration, here's how Pal is positioning his portfolio to weather a deeper equity rout. Ideally, he'd like to get to the allocation below.

"So I'm now in the point of thinking we've got another 20% downside or so to come before we get the 3-, 4-month bounce of hope," he said. "For the average guy, this is a very, very, very difficult world we're going to go into — and I can't sugarcoat it because there is no nice answer."
submitted by mqrasi to Bitcoin [link] [comments]

Round up of Cryptocurrency News #7 Week 17/08 - 23/08

Heya everyone! Its been a little while, I'm still trying to get back into the groove of writing. Sorry about post#6, there will be a catch-up posted soon.
 
So... onto News recap #7! What have seen happen? First of all we have seen a pump from a bunch of altcoins: OMG, Cosmos, IOTA, NEO, THETA, ARAGON, SiaCoin, Golem, Swipe. As Ethereum fees remain high Omisego pumped over 130% in one day. It has now pulled back, watch the volume for further movement. Something interesting to me is a lot of these are projects from 2017.
 
Link appears to have broken its bullish market structure, dumping 23% in 48 hours. Be careful. IOTA is pushing its boundaries as its chrysalis mainnet goes live inching closer to complete decentralisation! https://cryptopotato.com/iotas-chrysalis-goes-live-on-mainnet/
 
Ethereum 2.0 upgrade is harder than first appeared, Vitalik says it will take much longer as they have a governance issue for the new blockchain.
 
Bitcoin and Ethereum have had slight adjustments in price potentially tightening up for another move (Hold above $11700 please!) Fingers crossed it is in the upward direction. They are currently in the red over the past few days however don't let that fool you as they are both up over 20% over the last 30 days. Also there was much excitement as Bitcoin rallied over 12K but was quickly beaten down back under. We can now be clear this is a resistance level and possibly a soon to be support level as the price has been steadily pushing back upwards toward 12k. In spite of this most crypto influencers are bearish and expecting a pull back.
 
News for the week: More awareness of cryptocurrency and purchasing by institutional traders, but do they have the iron hands to play the crypto market? We will have to wait and see, as for Dave Portnoy (who cares), he entered and left within a week. Blames Chainlink and Orchid as Chainlink dumps 20% on him in a day. "Ive bought the top many times" Portnoy doesn't understand the principles of the market as he also appears to think pump and dumps are encouraged within the cryptosphere. I'd keep an eye on him if he tries to push a cryptocurrency onto anyone.
 
Outside of the meme news, "Bitcoins perception is changing over time, its image as a money-laundering vehicle has subsided, with investors now taking a much keener interest in it. News story counts of potential money laundering were much more prevalent in 2013-14 but have since subsided, while counts of Bitcoin as an investment have become more of a focus."
 
Bitcoin's hashrate reaches record high of 130 exahash per second (EH/s). This is especially important after bitcoins halving, as miners have had to switch off and upgrade from old inefficient mining rigs, because when miners commit more computing power to process BTC transactions it helps to strengthen the network and secure it against 51% attacks!
 
Warren Buffet changes his mind on Gold, will Bitcoin be next on his mind? Buffetts company reveals it has dumped bank stocks (such as JP Morgan, Goldman Sachs) and taken a position in a gold miner. This could also be a cheeky indicator something is a bit fishy within the current US financial system and Buffett is looking to retain his wealth for rockier times to come.
 
Thanks for reading, this week it is very Bitcoin heavy as I am thinking a move is on the way for the top performing cryptocurrencies. Below I would recommend reading the important links and CBDC links. It shouldnt be more than 30 mins, and most of them you can skim through :)
 
DISCORD LINK: https://discord.gg/zxXXyuJ 🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates! The Gravychain Collective: https://t.me/gravychain My Crypto HQ: https://t.me/My_Crypto_HQ
Important Links:
More links:
Central Bank Digital Currencies (CBDC):
Bitcoin Adoption + cryptocurrency engagment:
submitted by IOTAbesomewhere to Gravychain [link] [comments]

Hoskinson reveals interoperability efforts for Cardano

In a new video by IOHK CEO Charles Hoskinson, he revealed the company’s efforts to increase Cardano‘s interoperability with Ethereum Classic, Litecoin, Bitcoin Cash, among others. The IOHK CEO addressed the criticism he has received from a part of the community that has asked him to focus solely on Cardano. Hoskinson said that although IOHK’s main project is Cardano, the company has other projects:
First of all, I run a very large company. We have about 250 employees. About half of those people wake up every day and are involved with Cardano, the other half are not. So, as the CEO of a company where you have that division, there are non-Cardano things I do (…) We want Cardano to be successful and have billions of users (…)
Hoskinson also emphasized that all the partnerships they make globally follow a “Cardano first” policy. Therefore, IOHK’s team concentrates on building and deploying the agreements for Cardano. However, the IOHK CEO stressed that “one of the pillars of a third generation cryptocurrency is interoperability”.

Cardano’s creator speaks out against Bitcoin maximalism

The IOHK CEO then went on to address one of the problems which he believes is hampering the development of the crypto industry: Maximalism, the constant debate of a community to prove that their cryptocurrency is better than another. In many cases, this idea leads users and project managers into what Hoskinson later called “bar fights”. According to Hoskinson, this makes the debates destructive to the community and the industry:
Either you want one coin to dominate them all and you don’t mind talking to other systems or you put your money where your mouth is and work with these other systems, build expertise in these systems, affect changes in these systems so they can partner with ours and work with our systems.
However, Hoskinson clarified that IOHK’s team will not work for the competition or for projects that may be competition for Cardano. The projects developed by IOHK must have a benefit for Cardano. In that sense, Hoskinson also clarified that Ethereum Classic is not a direct competition to Cardano. He emphasized that the team working on the interoperability between the two platforms is a completely separate team and that the Cardano projects are not delayed by this.
The IOHK CEO called on the community to move away from the “maximalist mentality”. In the future, Cardano will have more interoperability with other cryptocurrencies, but also with traditional financial institutions and systems outside the blockchain industry. This, Hoskinson said, will make the project more attractive to future investors:
(…) Cardano’s ecosystem will work with hundreds if not thousands of different standards during his lifetime. From central banks to other cryptocurrencies to legacy finance operators, with the Chases of the world, the Goldman Sachs of the world, provisions will be made to build special hooks with these systems. Including interoperability with permissioned systems, it is very likely that within the next 24 months Cardano will be taken to an instance of IBM’s Hyperledger Fabric (…)
Hoskinson said Cardano will provide “true interoperability” and stressed that the partnerships IOHK is working on will be beneficial to Cardano. He added that Cardano’s local wallet, Daedalus, will become a multi-coin tool that integrates other blockchains like Litecoin, Ethereum Classic or Bitcoin Cash. The goal, Hoskinson said, is to achieve further milestones by working with other ecosystems:
It’s time for us as an industry to put this aside and grow up, otherwise what’s the point? Why would anyone who sees from the outside all this chaos, noise, madness and maximalism want to come and play in this pool (…) How can we get mass adoption (…) if we can’t be able to entertain other ideas, other philosophies and other ecosystems?
Below, you can watch the video of IOHK CEO Charles Hoskinson: https://youtu.be/RXQrm18XhQ8
submitted by hashatoshi to u/hashatoshi [link] [comments]

Why Everyone In Crypto Is Talking About DeFi?

A new movement is pumping oxygen into the cryptocurrency industry despite asset prices that remain 75% lower than where they were in late 2017.
It’s called DeFi, short for decentralized finance—it’s the notion that crypto entrepreneurs can recreate traditional financial instruments in a decentralized architecture, outside of companies’ and governments’ control.
And with fresh allegations of misused funds against the centrally controlled cryptocurrency tether, the argument for decentralized applications has become even more relevant.
Bitcoin and Ethereum are the original DeFi applications. Both are controlled by large networks of computers, not central authorities.
Many investors use bitcoin like gold, as a store-of-value investment that protects against inflation, while Ethereum has been instrumental—and controversial—in helping startups crowdfund their operations.
But newer apps are dominating the DeFi conversation. The “stablecoin” Dai is a bitcoin-like digital token that aims to be a global currency untouchable by central banks. Unlike bitcoin, its value is pegged to the U.S. dollar, drastically reducing the volatility that prevents bitcoin from being practical for everyday purchases. Compound is a crypto version of a money market fund, letting users earn interest. Dharma lets you issue and underwrite debt to gain investment returns.
“The goal of DeFi is to reconstruct the banking system for the whole world in this open, permissionless way,” says Alex Pack, managing partner at Dragonfly Capital, a $100 million crypto fund. “You only get that shot every 50 years.”
Salil Deshpande, a partner at Bain Capital Ventures who leads the firm’s crypto investments, thinks people first became interested in DeFi because “they have a libertarian streak.” They like that they can build censorship-resistant products, and some developers are simply fascinated with the technology and its capabilities.
The most powerful effects of DeFi applications, Deshpande says, will take shape over the long term. He points to Venezuela, where a steep drop in oil prices and poor government policies like printing vast amounts of money have crushed the economy, with inflation exceeding 1,000,000% last year, according to the IMF. “Central banks are just people, and people make mistakes,” Deshpande wrote in a 2018 blog post. Decentralized financial applications “can make our financial systems more transparent, more resilient and less fragile,” he says.
Jill Carlson, a former Goldman Sachs trader and strategy lead at blockchain company Chain, has been researching how Venezuelans are using digital assets to combat hyperinflation as part of a nonprofit she cofounded, the Open Money Initiative. “Crypto is not saving Venezuela,” she says. But bitcoin is being used by small numbers of people as a tool to protect against inflation and to send money to family members in other countries.
Dai, the most widely used DeFi application not counting Bitcoin and Ethereum, has spiked in popularity over the past six months, although adoption remains very low. About 21,000 people currently hold the asset, and in early April, it hit a peak number of daily transactions at 13,490. That’s up from less than 500 average daily transactions in the first few months after it launched in late 2017.
The software behind Dai is technologically complex and consists of over 1,000 lines of code, “which is a lot for crypto,” Dragonfly Capital’s Alex Pack says. It lays out rules for how new Dai are minted and how the system is maintained. For example, to create $100 worth of new Dai, users must pledge $150 of ether. They must also pay an interest rate or “stability fee,” because they’re borrowing Dai when they create it. Dai has a sister currency called MKR, and people who hold MKR vote to determine Dai’s interest rate.
Two percent of all ether, or about $339 million worth of ether, is locked up in Dai. Compound has about $34 million in locked ether, while Dharma has roughly $10 million.
The stablecoin tether has much more usage and adoption—it surpassed 44,000 transactions on April 4, according to Coin Metrics. But it’s not decentralized, since it’s managed by iFinex, a widely scrutinized Hong Kong company recently accused of moving money from its tether stablecoin reserves to cover up for $850 million in missing funds on its Bitfinex exchange. Such incidents make the case for a decentralized currency even more compelling.
Despite the potential for noble use cases of Dai, like helping residents of troubled countries, people are primarily using it to make bigger, leveraged bets on Ethereum. Investors can pledge ether to borrow Dai, and then use that Dai to buy more ether. A second use case: Traders who want to exit out of a volatile cryptocurrency can swap it for Dai instead of a fiat currency. Dai is also being used as money by “financially underserved communities, such as many people in South America,” says Rune Christensen, CEO of the Maker Foundation, the nonprofit that built Dai’s software.
What are the biggest risks of DeFi applications? “The smart contracts could be hacked,” Pack says. “There could be a backdoor that allows someone to steal all of your keys. But you’re trusting in open-source code—over time, many eyes are looking at it.” Christensen notes that Dai’s software has been audited four times by well-respected security research firms like Trail of Bits.
While the DeFi movement has many fans, some traders don’t think it will move the needle on cryptocurrency adoption. “Technologically, I think it’s brilliant,” says Jeff Dorman, chief investment officer at digital asset management firm Arca. But he sees more promise in a stablecoin created by a large company with many users, pointing to recent reports that Facebook is working on one. “Ultimately, distribution wins out,” he says.
Dorman doesn’t mind that Facebook’s coin would be centralized. “That’s why so many passionate libertarians and government anarchists are in crypto,” he says. “They see this utopian future that we one day might get to, but we’re not getting there overnight. So let’s walk before we run.”
submitted by jakkkmotivator to Latest_Defi_News [link] [comments]

I willing to do this but not sure how long it will takes

Nexo’s Third Dividend of $6,127,981.39 was distributed successfully on the 15th of August. Read more →
Borrow Earn
Card Token Company
Security Help Login Create Account
Instant Crypto Credit Lines Borrow cash or Stablecoins from 5.9% APR, without selling your crypto. Start Borrowing
Credit Amount
(USD) US Dollar USD
Collateral Required
(BTC) Bitcoin
Starting from just 5.9% APR
Automatic approval, no credit checks
$100 million insurance on custodial assets
Credit lines available from $500 to $2 million

ZeroFees and flexible repayments

Supported Collateral Get cash, keep your crypto using a variety of supported collateral options. Vote Which Coin to Add Next
Bitcoin
Credit Line
Ethereum
Credit Line
XRP
Credit Line
Bitcoin Cash
Credit Line
Litecoin
Credit Line
BNB
Credit Line
EOS
Credit Line
Chainlink
Credit Line
Stellar
Credit Line
NEXO Token
Credit Line
Tron
Credit Line
PAXG
Credit Line
Tether
Credit Line
USD Coin
Credit Line
PAX
Credit Line
TrueUSD
Credit Line
DAI
Credit Line $3B+ Processed in 2 years 800К+ Nexo users 40+ Fiat currencies available 16 Cryptocurrencies accepted How to Borrow There’s nothing more efficient than opening an Instant Crypto Credit Line with Nexo. 1 Top up supported assets Click on the "Top up" button. Copy the deposit address and transfer the amount you wish to top up.
2 A credit line becomes instantly available, no credit checks Once you have added digital assets to your account, you will be able to open a credit line. Your available credit line limit will be calculated depending on the value of your assets.
3 Start spending Withdraw cash or stablecoins or start spending using the Nexo Card. You will be charged interest only on the amount you actually withdraw.
Credit Powered by Your Crypto Hold on to your crypto’s upside potential and get instant cash with Nexo’s Instant Crypto Credit Lines.
Create Account
The Safest Way to Borrow The Nexo platform is equipped with a top-quality security infrastructure designed to protect your collateral at all times. Learn More 13 Years in FinTech Over a decade of flawless FinTech success
ISO 27001:2013 Compliant Impeccable risk assessment, data protection, and state-of-the-art cybersecurity
$100 Million Insurance Insurance on custodial assets via Lloyd’s of London
24/7 Customer Support Round the clock assistance
FAQs All your questions about Nexo answered. Visit our Help Center Loan-to-Value (LTV) explained
Are your loans secured?
Are there any prepayment, origination or loan instalments fees?
What happens if the value of the collateral changes before I repay my loan?
Are there margin calls, will I be notified beforehand and how much time I will have to respond?
Can I take out more than one loan at a time?
The Finest Financial Services for Your Digital Assets Nexo is the world’s leading regulated financial institution for digital assets. The company’s mission from day 1 is to maximize the value of digital assets by offering tax-efficient ‘Instant Crypto Credit Lines’, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for our clients, while ensuring the $100 million custodial insurance and military-grade security of the Nexo Account. Since raising $52.5 million in 2018, Nexo has processed $3+ billion in 40+ fiat currencies for 800,000+ users across 200 jurisdictions.
The world’s biggest crypto lender Nexo announced it officially backed its first mortgage using the cryptocurrency so “Mighty Ducks” actor Brock Pierce could buy a $1.2 million dollar home.
Nexo gives clients a tool that billionaires have had for years.
This is not a startup this is a team that has a successful track record of over 10 years extending over $120 million in credit...The group recently raised over $50 million for Nexo, its crypto lending venture. All money will be loaned out to so-called hodlers, or those who intend to hold digital currency long-term.
Brock Pierce backed the entire loan for the house with bitcoin. This was our first ever crypto-backed mortgage.
Nexo, which is backed by TechCrunch founder Michael Arrington, has introduced several initiatives over the last few months and recently became the first project to accept XRP as collateral. The company which functions as a bridge between the crypto world and the financial world.
Cryptocurrency startup Nexo which is backed by TechCrunch founder Michael Arrington, has launched a cash-based lending platform… [The] structure allows Nexo to provide instant loans without requiring credit checks or the time delay that manual approval processes require.
A good example is nexo.io a company providing instant cryptocurrency backed loans. The NEXO Dividend Token pays out 30 percent of the company’s profit to token holders.
The idea of crypto lending is one of the most revolutionary things that happened because of the wide adoption and popularity of cryptocurrencies (...) Switzerland-based Nexo is considered to be the first platform to provide instant crypto backed loans is adding XRP as the newest collateral option on their platform.
Nexo offered to provide immediate funding of up to $2 million per customer to SALT Lending’s backlog of loan applicants.
Nexo, a cryptocurrencies loan services, said this week that it’s going to offer interest payments on several leading stablecoins. When stored on the platform, trueusd (TUSD), geminidollar (GUSD), paxos standard (PAX), Circle’s usdcoin (USDC), and Maker’s dai (DAI) will generate an 8 percent interest rate for those holding the currency.
Nexo is ambitiously pursuing its goal of providing cryptoasset-backed credit to consumers in the EU and US. Nexo’s primary protocol functionality is an online platform that enables users to create instant cryptocurrency-backed loans by depositing various major cryptoassets into a Nexo account. The system automatically adjusts the credit limit based on the fluctuating value of the deposited cryptoassets.
Ein Darlehen aufnehmen und als Sicherheit die eigene Kryptowährung hinterlegen? Nexo macht es möglich. Es müssen lediglich KryptoAssets in den Nexo hinterlegt werden und sofort können Kunden einen Kredit aufnehmen, ohne sich einer Bonitätsprüfung unterziehen zu müssen.
The annualized dividend yield of NEXO is 4.80% which beats all dividend stocks in Warren Buffet’s portfolio: Apple at 1.4%, JP Morgan at 3%, Wells Fargo at 3.3%, and Goldman Sachs at 1.6%[...] A truly borderless enterprise, Nexo offers clients over 40+ fiat currencies to choose from in over 200 jurisdictions.
Start Borrowing Create a Nexo Account and get instant cash with our tax-efficient Instant Crypto Credit Lines.
Start Borrowing
Sign up for updates
Follow us Products Borrow Earn on Crypto Earn on EUR, GBP and USD Nexo Card Company About Us Blog Media Center Careers Help Help Center Apply to List Contacts Legal Privacy Policy Terms and Conditions Borrow Terms Earn Terms Institution License Affiliate Terms Assets Business Overview Whitepaper Token Terms Mobile App
Copyright © 2020 Nexo. All rights reserved.
submitted by treneddy to u/treneddy [link] [comments]

I willing to do this but not sure how long it will takes

Nexo’s Third Dividend of $6,127,981.39 was distributed successfully on the 15th of August. Read more →
Borrow Earn
Card Token Company
Security Help Login Create Account
Instant Crypto Credit Lines Borrow cash or Stablecoins from 5.9% APR, without selling your crypto. Start Borrowing
Credit Amount
(USD) US Dollar USD
Collateral Required
(BTC) Bitcoin
Starting from just 5.9% APR
Automatic approval, no credit checks
$100 million insurance on custodial assets
Credit lines available from $500 to $2 million

ZeroFees and flexible repayments

Supported Collateral Get cash, keep your crypto using a variety of supported collateral options. Vote Which Coin to Add Next
Bitcoin
Credit Line
Ethereum
Credit Line
XRP
Credit Line
Bitcoin Cash
Credit Line
Litecoin
Credit Line
BNB
Credit Line
EOS
Credit Line
Chainlink
Credit Line
Stellar
Credit Line
NEXO Token
Credit Line
Tron
Credit Line
PAXG
Credit Line
Tether
Credit Line
USD Coin
Credit Line
PAX
Credit Line
TrueUSD
Credit Line
DAI
Credit Line $3B+ Processed in 2 years 800К+ Nexo users 40+ Fiat currencies available 16 Cryptocurrencies accepted How to Borrow There’s nothing more efficient than opening an Instant Crypto Credit Line with Nexo. 1 Top up supported assets Click on the "Top up" button. Copy the deposit address and transfer the amount you wish to top up.
2 A credit line becomes instantly available, no credit checks Once you have added digital assets to your account, you will be able to open a credit line. Your available credit line limit will be calculated depending on the value of your assets.
3 Start spending Withdraw cash or stablecoins or start spending using the Nexo Card. You will be charged interest only on the amount you actually withdraw.
Credit Powered by Your Crypto Hold on to your crypto’s upside potential and get instant cash with Nexo’s Instant Crypto Credit Lines.
Create Account
The Safest Way to Borrow The Nexo platform is equipped with a top-quality security infrastructure designed to protect your collateral at all times. Learn More 13 Years in FinTech Over a decade of flawless FinTech success
ISO 27001:2013 Compliant Impeccable risk assessment, data protection, and state-of-the-art cybersecurity
$100 Million Insurance Insurance on custodial assets via Lloyd’s of London
24/7 Customer Support Round the clock assistance
FAQs All your questions about Nexo answered. Visit our Help Center Loan-to-Value (LTV) explained
Are your loans secured?
Are there any prepayment, origination or loan instalments fees?
What happens if the value of the collateral changes before I repay my loan?
Are there margin calls, will I be notified beforehand and how much time I will have to respond?
Can I take out more than one loan at a time?
The Finest Financial Services for Your Digital Assets Nexo is the world’s leading regulated financial institution for digital assets. The company’s mission from day 1 is to maximize the value of digital assets by offering tax-efficient ‘Instant Crypto Credit Lines’, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for our clients, while ensuring the $100 million custodial insurance and military-grade security of the Nexo Account. Since raising $52.5 million in 2018, Nexo has processed $3+ billion in 40+ fiat currencies for 800,000+ users across 200 jurisdictions.
The world’s biggest crypto lender Nexo announced it officially backed its first mortgage using the cryptocurrency so “Mighty Ducks” actor Brock Pierce could buy a $1.2 million dollar home.
Nexo gives clients a tool that billionaires have had for years.
This is not a startup this is a team that has a successful track record of over 10 years extending over $120 million in credit...The group recently raised over $50 million for Nexo, its crypto lending venture. All money will be loaned out to so-called hodlers, or those who intend to hold digital currency long-term.
Brock Pierce backed the entire loan for the house with bitcoin. This was our first ever crypto-backed mortgage.
Nexo, which is backed by TechCrunch founder Michael Arrington, has introduced several initiatives over the last few months and recently became the first project to accept XRP as collateral. The company which functions as a bridge between the crypto world and the financial world.
Cryptocurrency startup Nexo which is backed by TechCrunch founder Michael Arrington, has launched a cash-based lending platform… [The] structure allows Nexo to provide instant loans without requiring credit checks or the time delay that manual approval processes require.
A good example is nexo.io a company providing instant cryptocurrency backed loans. The NEXO Dividend Token pays out 30 percent of the company’s profit to token holders.
The idea of crypto lending is one of the most revolutionary things that happened because of the wide adoption and popularity of cryptocurrencies (...) Switzerland-based Nexo is considered to be the first platform to provide instant crypto backed loans is adding XRP as the newest collateral option on their platform.
Nexo offered to provide immediate funding of up to $2 million per customer to SALT Lending’s backlog of loan applicants.
Nexo, a cryptocurrencies loan services, said this week that it’s going to offer interest payments on several leading stablecoins. When stored on the platform, trueusd (TUSD), geminidollar (GUSD), paxos standard (PAX), Circle’s usdcoin (USDC), and Maker’s dai (DAI) will generate an 8 percent interest rate for those holding the currency.
Nexo is ambitiously pursuing its goal of providing cryptoasset-backed credit to consumers in the EU and US. Nexo’s primary protocol functionality is an online platform that enables users to create instant cryptocurrency-backed loans by depositing various major cryptoassets into a Nexo account. The system automatically adjusts the credit limit based on the fluctuating value of the deposited cryptoassets.
Ein Darlehen aufnehmen und als Sicherheit die eigene Kryptowährung hinterlegen? Nexo macht es möglich. Es müssen lediglich KryptoAssets in den Nexo hinterlegt werden und sofort können Kunden einen Kredit aufnehmen, ohne sich einer Bonitätsprüfung unterziehen zu müssen.
The annualized dividend yield of NEXO is 4.80% which beats all dividend stocks in Warren Buffet’s portfolio: Apple at 1.4%, JP Morgan at 3%, Wells Fargo at 3.3%, and Goldman Sachs at 1.6%[...] A truly borderless enterprise, Nexo offers clients over 40+ fiat currencies to choose from in over 200 jurisdictions.
Start Borrowing Create a Nexo Account and get instant cash with our tax-efficient Instant Crypto Credit Lines.
Start Borrowing
Sign up for updates
Follow us Products Borrow Earn on Crypto Earn on EUR, GBP and USD Nexo Card Company About Us Blog Media Center Careers Help Help Center Apply to List Contacts Legal Privacy Policy Terms and Conditions Borrow Terms Earn Terms Institution License Affiliate Terms Assets Business Overview Whitepaper Token Terms Mobile App
Copyright © 2020 Nexo. All rights reserved.
submitted by treneddy to u/treneddy [link] [comments]

For Trading July 16th

For Trading JULY 16th
GS Earnings a Beat Prop-Trading Helps
NASDAQ Still Weaker
TWTR HACKED
Today’s market got off to a decent start with the futures indicating a gain of about 500+, but it didn’t live up to its promise, falling back and reaching up “only” 428 and making that high by 9:45 and trading sideways to lower and making a low around 12:15 at + just 50 before turning back up to make a lower high +240 and selling off again, but making a late gain back to +310 before the last little selloff to close +227.51 (.85%), NASDAQ +61.91 (.59%), S&P 500 +29.04 (.91%), the Russell +50.05 (3.5%) and the big winner, DJ Transports +424.96 (4.56%). Market internals were strong with the NYSE A/D 5:1 and NAZ 4:1 with slightly higher volume than yesterday. The DJIA was 25:5 with the big gainer BA, +55 and UNH the big loser -31 DP’s. There was plenty of good news from the Beige Book gains, Industrial production +5.4% v 4.6 est., import / export gains and mortgage apps +5.1%. Tomorrow we have Initial and continuing claims, retail sales, Phili Fed, NAHB housing and business inventories. Plenty to obsess about!
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 3000 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s highly informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/hEiml2wDNeA
SECTORS: Goldman Sachs (GS) reported great numbers, buoyed by proprietary trading and while the stock traded as high as $225.24, it couldn’t hold those gains and finished $216.90 +2.89 (1.35%). So, as I mentioned in tonight’s video (link above) the airlines and cruise lines were propelled higher by the news from Moderna (MRNA) that their vaccine produces twice the antigens as those from patients that have recovered from the illness. MRNA finished $80.22 +5.18 (6.9%) after trading as high as $88.37. The airlines were AAL+1.87 (16%), DAL +2.49 (9.5%), LUV +.60 (2.2%), while the cruise lines were CCL +2.44 (16.2%), RCL +10.21 (21%), and NCLH +3.17 (20.6%). If I had to pick one that I’d go with, it would be none of these. I think the play will be in EXPE $90.23 +7.76 (9.4%) since people will need to book regardless of what they want to do or where they want to go. The TWTR hack of several high profile users, Obama, Biden, Bill Gates, Kanye West and Elon Musk was a crypto scam announcing a giveaway that required the sender to deposit .1 BTC in order to receive .2 BTC back…yeah, right…I’m so sure Joe Biden wants to double my money! And, the HOMERUN of the day was the Australian Biotech, Genetic Tech (GENE), whose “Severity Risk Test” was updated on a webinar. The stock was as low as $1.41 earlier this year and closed on Tuesday @ $2.26 and opened the day today @ 2.75 and ran up to $10.30 before closing $5.67 +3.41 (150.89%). Clearly a homerun!
FOOD SUPPLY CHAIN was LOWER with TSN +1.71, BGS -.27, FLO -.13, CPB -1.06, CAG -.37, MDLZ -.19, CALM -.14, JJSF +2.11, SAFM +1.77, HRL -.27, SJM -1.31 and PPC $16.53 +.30 (1.85%).
BIOPHARMA was HIGHER with BIIB +1.69, ABBV +1.60, REGN -8.49, ISRG +22.46, GILD -.44, MYL +.43, TEVA +.88, VRTX +1.28, BHC +1.25, INCY -.05, ICPT +1.93, LABU +4.17 and IBB $142.74 +2.48 (1.77%).
CANNABIS: was HIGHER with TLRY +.24, CGC +.81, CRON +.67, GWPH -3.99, ACB +1.11, CURLF +.10, KERN +.42, and MJ $13.64 +.38 (2.87%).
DEFENSE: was HIGHER with LMT +9.94, GD +2.64, TXT +1.05, NOC +5.21, BWXT +1.24, TDY +21.12, RTX +2.73 and ITA $165.19 +5.58 (3.5%).
RETAIL: was HIGHER with M +.39, JWN +1.12, KSS +1.88, DDS +1.73, WMT +.37, TGT +1.59, TJX +2.57, RL +4.23, UAA +.87, LULU +4.19, TPR +.95, CPRI +1.35
FAANG and Big Cap: were LOWER with GOOGL -5.74, AMZN -86.00, AAPL +.61, FB -.53, NFLX -.38, NVDA -8.78, TSLA -5.80, BIDU -.69, CMG +33.98, BABA +.25, CAT +2.62, BA +6.32, DIS +1.74, and XLK $107.64 +.58 (.54%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES.
FINANCIALS were HIGHER with GS +1.54, JPM +.99, BAC +.52, MS +1.32, C +1.60, PNC +2.89, AIG +.76, TRV +.79, AXP +2.54, V +2.72 and XLF $24.15 +.47 (1.98%).
OIL, $41.20 +.91. Oil was lower in last night’s trading before we rallied in the morning. I mentioned in last night’s charts with comments section in the Weekly Strategies letter, prices are trying to work higher towards $45.00. We needed a close over the previous high close of $40.83 and we finally did that today. The stocks were higher with XLE $37.38 +.79 (2.16%).
GOLD $1,813.80 +.40. It was a continuation rally and a new recovery high of $1,829.80. I have only the NEM August 65 / 70 spread on in the Gold market while we have been back in the Silver (SLV) calls @ $ .92 from Friday. Silver rallied from a down overnight session and the calls closed $1.40 +.12. We also added a GLD 7/24 170 call position @ $1.22 that finished $1.54 -05.
BITCOIN: closed $9,190 -120. After trading back to 8985 we rallied back to close – only $5. Since last week we have closed between 9200 – 92.85 every day with narrow ranges and today was a good start to move higher. A break over 10,000 still sends us higher. We added 350 shares of GBTC @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $9.48 - .25 today.
Tomorrow is another day.
CAM
submitted by Dashover to OptionsOnly [link] [comments]

Faangs Falter

For Trading JULY 24th
INTC FALTERS
“BIG 6 TAKE IT ON THE CHIN”
GOLD KEEPS ROLLING
Today’s market got off to a mixed start and ended with lots of red ink. The biggest of the big names finally took it on the chin in late trading and finished with losses of between 3 and 5% including AAPL -18 on a sell recommendation by Goldman Sachs. The closes were all near the lows of the day with DJIA -353.51 (1.31%), NASDAQ -244.71 (2.29%), S&P 500 -40.36 (1.23%), the Russell -.06, and the DJ Transport -33.26 (.34%). Internals were just negative on the NYSE at 15:14 while on NASDAQ they were 1.6:1 lower. Volume was lighter on NYSE although 3:2 down while the NAZ was a bit heavier today. On the DJIA there were 8 stock higher but none in double digits while AAPL was the biggest loser -121 DP’s followed by MSFT -63.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 3000 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s highly informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/qPmpTV3mCfM
SECTORS: Earnings were the feature again today with gains from TWTR, KMB, and CTAS and they were higher, but the biggest name this afternoon was Intel (INTC) which reported a beat both top and bottom, but it was vs. estimates had been lowered 2 or 3 times since last quarter (also a miss) and Wall Street was not in the mood to be lied to again, and the stock was pounded to the extent that it fell a full 10% and finished the extended hours session just pennies from the low (53.86) at $54.00, $6.40 on top of the $ .65 loss during the regular day. At this rate, $50 looks likely.
FOOD SUPPLY CHAIN was HIGHER with TSN +.65, BGS +.38, FLO +.02, CPB +.29, CAG +.39, MDLZ +.85, KHC +.16, CALM unch., JJSF +2.20, SAFM +.34, HRL +.22, SJM +.83, PPC +.35, KR +.09, and PBJ $33.12 +.11 (.33%).
BIOPHARMA was LOWER with BIIB -3.81, ABBV +.31, REGN -7.53, ISRG +5.21, GILD -.50, MYL -.48, TEVA -.35, VRTX -8.23, BHC -.27, INCY -3.69, ICPT -.88, LABU -4.15, and IBB $139.14 -2.96 (2.02%).
CANNABIS: was LOWER with TLRY +.03, CGC -.47, CRON -.24, GWPH -4.94, ACB -.36, CURLF +.12, KERN -.08, and MJ $13.06 -.16 (1.21%).
DEFENSE: was LOWER with LMT -5.49, GD -1.03, TXT +/.26, NOC -2.50, BWXT +.10, TDY -15.03, RTX -.15, and ITA $165.62 -1.60 (.96%).
RETAIL: was MIXED with M +.24, JWN +.21, KSS +.64, DDS +.47, WMT -1.18, TGT -1.11, TJX -.05, RL +.29, UAA +.43, LULU -7.45, TPR -.19, CPRI -.69, and XRT $46.65 -.20 (.43%).
FAANG and Big Cap: were LOWER with GOOGL -44.29, AMZN -109.91, AAPL -16.64, FB -6.47, NFLX -11.82, NVDA -13.35, TSLA -107.84, BABA +.88, BIDU -1.95, CMG -62.27, CAT +.22, MSFT -8.15, BA -3.27, DIS -1.88, and XLK $106.49 -2.84 (2.60%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES.
FINANCIALS were LOWER with GS -2.75, JPM +.31, BAC +.43, MS -.52, C +.49, PNC +.71, AIG -.32, TRV -3.63, AXP -.31, V -1.43, and XLF $24.33 +.02 (.08%).
OIL, $41.07 -.82. Oil was lower in last night’s trading before we rallied in the morning. I mentioned in last night’s charts with comments section in the Weekly Strategies letter, that it is a toss-up for a move in either direction. The stocks were MIXED with XLE $37.72 -.07 (.19%).
GOLD $1,890.00 +24.90. It was a continuation rally and a new recovery high of $1,897.70. I have only the NEM August 65 / 70 spread on in the Gold market. The spread was put on at $1.30 and finished the day @ $2.08.
BITCOIN: closed $9,650 +225. After trading back to 8985 we rallied back to close – only $5. Since last week we have closed between 9200 – 92.85 every day with narrow ranges and today was a good start to move higher. A break over 10,000 still sends us higher. We added 350 shares of GBTC @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $10.49 +.41 today.
Tomorrow is another day.
CAM
submitted by Dashover to OptionsOnly [link] [comments]

We are sending a clear message of integrity and justice, louder than the slander our oppressors can push into the news.

We are almost there.
In less than thirty days I will be drafting an unprecedented announcement that your resilience made possible: the announcement that Silk Road has repaid all victims of our February hack.
As of today, May 27th 2014, 82.09% of all victims of the Feburary hack have been fully repaid.
In June the world will be reminded that when faced with adversity, Silk Road's community doesn't run. We unite.
Our enemies may seize our servers, impound our coins, and arrest our friends, but they cannot stop you: our people.
You write history with every coin transacted here.
It is unprecedented for any entity, darknet or clearnet, to completely repay the victims of a Bitcoin hack.
We are sending a clear message of integrity and justice, louder than the slander our oppressors can push into the news. History will prove that we are not criminals, we are revolutionaries.
We are slaving to transform a notoriously-violent industry into a safe online marketplace, removing the risk of face-to-face transactions.
We do not steal the People's money like Goldman Sachs, Citigroup, and Morgan Stanley. We bail each other out with our own sweat. We are not puppets of fear or greed. We do not run like the cowards at MtGox, TorMarket, or Sheep. Silk Road is not here to scam, we are here to end economic oppression. Silk Road is not here to promote violence, we are here to end the unjust War on Drugs. Silk Road is not here to submit to authority, we are here to defend a foundational human right: freedom of choice. Silk Road is not a marketplace, Silk Road is a global revolt.
When the news hits that everyone has been repaid, do your part to help tear down the world's misimpressions about what our movement stands for.
Four months of everyone's hard work has almost generated one spark. Throw it into the petrol. Be prepared with your throwaway accounts. Tweet. Upvote. Blog. Email editors.
It is an honor to serve you. Defcon
From the front page of the Silk Road six years ago....
submitted by MemoryDealers to btc [link] [comments]

End of day summary - 02/27

The Dow plunged 1190.95, or 4.42%, to 25766.64, the Nasdaq lost 414.30, or 4.61%, to 8566.48, and the S&P 500 dropped 137.63, or 4.42%, to 2978.76.

It was a frenetic day of trading action on /thewallstreet. The stock market extended its recent sell-off by more than 4% on Thursday in a volatile session, as the widening spread of the coronavirus heightened pessimism among investors. The S&P 500 dropped as much as 3.5% shortly after the open, then cut its losses to 0.6% by midday, but ultimately closed at session lows with a 4.4% decline.
The Dow Jones Industrial Average (-4.4%), Nasdaq Composite (-4.6%), and Russell 2000 (-3.5%) experienced similar price action. Each of the major indices fell into correction territory, which is often defined as a decline of at least 10% from a recent high, and today's drop sent the S&P 500 well below its 200-day moving average (3046.58) amid heavy selling into the close.
From a sector perspective, all 11 S&P 500 sectors fell between 3.3% (health care) and 5.6% (real estate). Other notable moves included WTI crude falling 3.0% to 47.24/bbl to extend its weekly decline to 12.1% and the CBOE Volatility Index surging 42.1% to 39.16 in a protection trade against further equity weakness.
Regarding COVID-19, the CDC acknowledged the first coronavirus case of "unknown origin" in the U.S., which raised concerns about a community spread of the virus. California's governor fueled concerns by saying 28 people have tested positive and another 8,400 people are being monitored because of their travel.
The impact to global supply chains or consumer spending remains uncertain, but Goldman Sachs warned there could be no U.S. earnings growth in 2020 if the virus becomes widespread. MSFT -7.1%, meanwhile, was the latest high-profile company to issue a quarterly revenue warning, specifically for its More Personal Computing segment.
Current, and past, Fed officials offered their views on the matter. In an opinion piece for The Wall Street Journal, former Fed Governor Kevin Warsh argued that the Fed and other central banks should cut rates due to the coronavirus, while Chicago Fed President Evans reiterated the Fed's stance that it's still premature to provide guidance without more data.
Besides the coronavirus news, equity investors appeared to be taking cues from the Treasury market. For instance, the S&P 500's early morning low coincided with the high in the Treasury market. At session's end, the 2-yr yield declined five basis points to 1.10%, and the 10-yr yield declined basis points to 1.30%.
Not all stocks closed lower, though. Face mask company (MMM) +0.8% and Bleach company (CLX) +0.4% managed to eke out small gains amid speculation that demand for some of their products will increase due to the coronavirus.
Among the noteworthy gainers were VIR and NVAX, which surged 50% and 18%, respectively, as coronavirus fears mount. Both companies are working on coronavirus vaccines. Also higher were ETSY and SQ, which gained a respective 16% and 11% after reporting quarterly results.
Among the notable losers was TSLA, which slid 8% after Bloomberg reported registrations of new Teslas in China plunged 46% last month as the coronavirus outbreak adds to a slump in the country's car market. SPCE fell 17% after Morgan Stanley analyst Adam Jonas downgraded the shares to Equal Weight and Credit Suisse analyst Robert Spingarn also downgraded the stock to Neutral following with the shares up 185% year-to-date.
In earnings news, BBY reported better than expected sales and earnings for the fourth quarter and raised its quarterly dividend by 10%. Last night, BKNG reported "strong" Q4 results, but also cited a significant impact from the coronavirus on its forward outlook, stating that its wider than typical guidance ranges are due to "the high level of uncertainty in forecasting the coronavirus and its associated impact on the company and the travel industry generally."
In its own more optimistic coronavirus update,SBUX said it is "seeing the early signs of a recovery" in China. In a letter to employees posted on its corporate blog, Starbucks CEO Kevin Johnson reported that the coffee giant now has 85% of stores open across China as it continues to assess the ongoing impact of the disease outbreak.
Elsewhere in Europe, Stoxx 600 closed 3.6% lower provisionally, officially entering correction territory as it was off more than 10% from its record high notched on Feb. 19 last year.

Currency

The U.S. Dollar Index slid 0.5% to 98.51, widening this week's loss to 0.8%.

Treasury

The Treasury market has been the epicenter of concerns about the global growth outlook, as well as the frayed psychology pertaining to the COVID-19 outbreak. The 10-yr note yield is down four basis points this morning to 1.27%, leaving it down 19 basis points on the week and 65 basis points on the year.
Today, the fed funds futures market expects that a rate cut will happen as soon as the March 18 meeting, followed by another cut in June. Treasuries briefly turned negative in midday trade but returned toward their opening levels after California Governor Gavin Newsom said that 28 people in California have tested positive for the coronavirus while more than 8,000 other people are being monitored.

Commodity

Oil prices continued their steep decline on Thursday, with U.S. West Texas Intermediate crude falling more than 5% at the low to $45.88 per barrel — a price not seen since Jan. 2019 — as fears of the coronavirus outbreak, and what it could mean for crude demand, continue to batter prices.

Crypto

Bitcoin was fighting to keep support at a key level on Feb. 27 as markets worldwide continued to suffer from fears over coronavirus.

YTD

AH News

  • BYND reports EBITDA: $9.5M (est $5.76M), Net Rev: $98.5M (est $79.8M).Sees 2020 Net Revenue: $490M To $510M (est $485.7M)

Thoughts on Corona

It is becoming abundantly clear that the spread of the coronavirus is not going to be stopped. What is not clear is the extent of the economic damage that is going to be done by its spread before the world gets comfortable with the notion that the coronavirus is debilitating, but not necessarily deadly for most sufferers.
The latter is the accepted perspective when dealing with the flu, but because COVID-19 is so new and won't reportedly have a vaccine to guard against it for some time, there is some understandable fear about contracting the virus that is prompting some extreme measures to contain it. Those measures have been detrimental to the world economy in a number of respects, which include but are not limited to shutting down supply chains, restricting travel, and preventing people from going to work.
At the same time, some considerable psychological damage is being done with the understanding that governments around the globe are scrambling to deal with COVID-19 in a way that hasn't been seen in a really long time.
China locked down entire cities. Japan announced today that it will be closing elementary, middle, and high schools nationwide until late March. President Trump last night announced that Vice President Pence is being put in charge of the U.S. response to COVID-19.
The stock market, therefore, has been getting punched by a left-right combination of growth concerns and frayed investor psychology. That combination has led to some rapid-fire selling for a market that was already stretched and counting on stronger earnings growth in 2020, which now seems unlikely to pull through as expected.
The uncertainty surrounding the earnings outlook is a major headwind for the market at the moment.
Summary scraped from the interweb. Took 2.30 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

Goldman Sachs CEO about Bitcoin Goldman Sachs CEO Blankfein about BitCoin Goldman Sachs on blockchain and Bitcoin Goldman Sachs Hates Bitcoin Why Goldman Sachs Is Wrong About Bitcoin  Coinbase Angel Investor and Fundstrat Analyst Explain

Former Goldman Sachs Exec: ‘Enormous Wall of Money’ Coming Into Bitcoin. Siamak Masnavi ; 12 Oct 2020 / In #Bitcoin; Former macro hedge fund manager Raoul Pal, who believes that Bitcoin is “a priceless reserve and collateral asset,” said that due to the increasing institutional adoption of Bitcoin he is considering selling his gold to buy more Bitcoin. Prior to founding macro economic ... Goldman Sachs Warns US Dollar Risks Losing World Reserve Currency Status, Gold and Bitcoin Soar Goldman Sachs has warned that the U.S. dollar may lose its status as the world’s reserve currency. Goldman Sachs GS, along with Wall Street banking rival JPMorgan JPM, has a mixed history with bitcoin. After cheering bitcoin's epic 2017 rally to around $20,000 in 2017, Goldman Sachs "betrayed ... Goldman Sachs the investment banking giant still do dont consider Bitcoin to be an asset class according to the recent client phone call. The call was hosted by Sharmin Mossavar-Rahmani, Chief ... “Bitcoin is inevitable, all who have gone against it are now being forced to kneel, first JPMorgan, now Goldman Sachs,” one Twitter user wrote. “Even banks realize fiat money is losing value ...

[index] [38525] [25953] [3439] [37493] [3156] [28606] [47210] [37131] [1571] [26886]

Goldman Sachs CEO about Bitcoin

2020 Goldman Sachs TMT in San Francisco @ the Palace Hotel Feb 14th, Bitcoin and Blockchain Panel, Michael Carrier of Forge, Rod Hall of Goldman Sachs, Spencer Bogart of Blockchain Capital ... Goldman Sachs held a conference call for clients today on the "Implications of Current Policies for Inflation, Gold and Bitcoin" and turns out... Goldman Sachs ISN'T a fan of Bitcoin. Nope, not ... Nov.30 -- Lloyd Blankfein, chairman and chief executive officer at Goldman Sachs, and Michael R. Bloomberg, founder and majority owner at Bloomberg LP, examine the merits of Bitcoin and the future ... Goldman Sachs Bitcoin News that Goldman Sachs would be briefing clients about Bitcoin set the cryptocurrency world abuzz on Wednesday morning. Would the famous investment bank deliver a seal of ... This video is unavailable. Watch Queue Queue. Watch Queue Queue

#