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Van Eck CEO Anticipates Bitcoin Reaching $100,000 Amid Institutional Adoption
Jan van Eck, CEO of investment management firm VanEck, has expressed strong confidence in Bitcoin’s future performance, predicting that the cryptocurrency will continue to reach new all-time highs. In a recent interview, van Eck emphasized Bitcoin’s maturation and its growing acceptance as a store of value, stating, “Bitcoin is the obvious asset that’s growing up in front of our eyes.” Van Eck…
#000 Amid Institutional Adoption#all-time highs#Bitcoin#Bitcoin price surge#crypto#cryptocurrency#cryptocurrency market#digital gold#finance#institutional adoption#Jan van Eck#SEC approval#Spot Bitcoin ETF#Van Eck Anticipates Bitcoin Reaching $100#Van Eck CEO Anticipates Bitcoin Reaching $100#vaneck
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Top 5 News Impacting the Stock Market Today
The stock market is a complex and dynamic environment that is affected by many factors, including economic indicators, geopolitical events, and corporate news. In the last 8 hours, several news stories have dominated the headlines, affecting various sectors of the stock market. In this blog post, we will discuss the five most impactful news stories and provide buy and sell stock recommendations based on the news. - The U.S. Economy Added 199,000 Jobs in February According to Reuters, the U.S. economy added 199,000 jobs in February, beating economists' expectations. The unemployment rate also dropped to 4.2%, the lowest since the start of the pandemic. This news is a positive sign for the economy and could lead to a rally in the stock market, particularly in the industrial and financial sectors. Recommendation: Buy stocks in the industrial and financial sectors, such as Caterpillar (CAT) and JPMorgan Chase & Co. (JPM). - GameStop Shares Plunge After Disappointing Earnings Report As reported by Bloomberg, GameStop shares fell by more than 12% after the company reported disappointing earnings for the fourth quarter of 2021. The company's revenue fell short of analysts' expectations, and the outlook for the future was not optimistic. This news could lead to a continued decline in GameStop's stock price. Recommendation: Sell GameStop (GME) stocks. - Oil Prices Continue to Rise According to CNN, oil prices have continued to rise due to the ongoing cold weather in Texas and other parts of the United States. The cold weather has disrupted oil production, leading to a decrease in supply and an increase in prices. This news is positive for the energy sector, particularly for oil and gas companies. Recommendation: Buy stocks in the energy sector, such as Exxon Mobil Corporation (XOM) and Chevron Corporation (CVX). - Bitcoin Hits New All-Time High Bloomberg reports that Bitcoin has hit a new all-time high, surpassing $52,000 per coin. The surge in Bitcoin's price is attributed to several factors, including increased institutional adoption and a weakening U.S. dollar. This news is positive for cryptocurrency investors and could lead to a continued increase in the value of Bitcoin. Recommendation: Buy Bitcoin (BTC) or invest in a cryptocurrency-focused exchange-traded fund (ETF), such as the Bitwise Crypto Industry Innovators ETF (BITQ). - Johnson & Johnson's Vaccine Receives Emergency Use Authorization According to Reuters, the U.S. Food and Drug Administration (FDA) has granted emergency use authorization for Johnson & Johnson's COVID-19 vaccine. This news is positive for the healthcare sector and could lead to a continued rally in healthcare stocks. Recommendation: Buy stocks in the healthcare sector, such as Johnson & Johnson (JNJ) and Pfizer Inc. (PFE). In conclusion, the stock market is constantly influenced by news events, and staying informed is crucial for investors and traders. The five news stories discussed in this blog post highlight the importance of diversification and keeping an eye on both positive and negative news. By following our recommendations and doing your own research, you can make informed investment decisions and take advantage of market opportunities. References: - U.S. adds 199,000 jobs in February, beating expectations - Reuters (https://www.reuters.com/business/us-adds-199000-jobs-february-beating-expectations-2022-03-04/) - GameStop Shares Plunge After Disappointing Earnings Report - Bloomberg (https://www.bloomberg.com/news/articles/2022-03-04/gamestop-shares-plunge-after-disappointing-earnings-report) - Oil prices surge to highest in over a year amid supply disruption - CNN Business (https://www.cnn.com/2022/03/04/investing/oil-prices-supply-disruption/index.html) - Bitcoin Surges Past $52,000 After Outflows From Grayscale's Trust - Bloomberg (https://www.bloomberg.com/news/articles/2022-03-04/bitcoin-surges-past-52-000-after-outflows-from-grayscale-s-trust) - J&J's COVID-19 vaccine wins U.S. emergency use authorization - Reuters (https://www.reuters.com/business/healthcare-pharmaceuticals/us-fda-grants-jjs-covid-19-vaccine-emergency-use-authorization-2022-03-04/) Please note that the stock recommendations provided in this blog post are based on the news and market trends as of the time of writing. As the market is constantly changing, we advise investors and traders to conduct their own research and consider their personal financial goals before making any investment decisions. Read the full article
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Financial influence of Transnet strike mounting
The financial influence of the Transnet strike is mounting, with simply mining shedding about R815 million in foregone income every day. The strike is now in its twelfth day and after unions rejected the advised wage enhance of 6% on the weekend, it appears that it’ll not finish quickly. The Bureau for Financial Analysis (BER) at Stellenbosch College says the Minerals Council estimates that the strike is costing bulk mineral exporters R815 million in foregone income per day as a result of they can not use rail to load 357 000 tonnes of iron ore, coal, chrome, ferrochrome and manganese onto ships every day. As well as, the BER says, the offloading of essential imports, together with medical provides and diesel, has come to a standstill, elevating nervousness about shortages the longer the commercial motion continues. “Based mostly on weekend studies, even the union management acknowledges that it’s crucial for the strike to finish as quickly as attainable, suggesting a decision could also be in sight. If that is caused by a multi-year deal of above-inflation wage will increase, the top of the strike may even have penalties,” Lisette Ijssel de Schepper, editor of BER Weekly, says. She warns that the BER is not only referring to the direct hit to Transnet’s embattled funds, but additionally how the South African Reserve Financial institution (Sarb) will view such a settlement. Weekend studies quote finance minister Enoch Godongwana suggesting that Transnet will obtain monetary help from authorities. He’ll present the main points in subsequent week’s Medium Time period Price range Coverage Assertion (MTBPS). ALSO READ: Transnet strike ‘most appalling act of financial sabotage’ Impact of Transnet strike on Reserve Financial institution choices The BER says the Sarb will in fact not reply to a single wage deal, a sample is rising of entities signing multi-year wage offers at percentages above the anticipated price of inflation, presumably to make sure future stability of operations, in addition to in response to elevated dwelling prices. “Assuming that affordability standards are met, this appears rational from a person agency perspective. Nevertheless, particularly if not accompanied by productiveness enhancements, it should elevate alarm bells on the Sarb, which is targeted on managing inflation expectations all the way down to 4.5% and decrease, over time.” The BER says It now appears attainable and even probably that Transnet will provide staff a multi-year wage deal that would attain will increase of 6% in future years and notes that the Car Producers Affiliation went even additional final week when it agreed to a three-year deal that may see wages enhance by 8.5% this 12 months, adopted by a probable 7% rise within the following two years. Mining agency DRDGold additionally reached settlement on a three-year wage deal properly above focused inflation and the BER says together with sustained US greenback power, which implies that the rand might quickly check R18.50/$ amid additional near-term aggressive US central financial institution coverage price hikes, the current elevated wage settlements in South Africa imply that the Sarb is now anticipated to hike the coverage rate of interest by one other 75 foundation factors at its November financial coverage assembly. The BER says the Transnet strike and any implementation of abrupt and extended durations of load shedding are anticipated to carry again output within the manufacturing and mining sectors as properly within the fourth quarter of the 12 months. ALSO READ: Load shedding, Transnet strike, oil costs poised to pummel SA economic system even additional Originally published at Irvine News HQ
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Pasig mayor vows 'unpoliticized', principled public service
#PHnews: Pasig mayor vows 'unpoliticized', principled public service
MANILA – Pasig City Mayor Vico Sotto has vowed to sustain unpoliticized and principled public service to his constituents.
Speaking at the 447th founding anniversary of the city on Thursday night, Sotto reported the city's progress, improvement, and gains of the local government during the first year of his administration.
"There are many programs, many projects have been implemented during the year but we should not forget those principles and what we are upholding," Sotto said in Filipino during a virtual State of the City Address.
Sotto said the universal healthcare program (UHC) for residents is the top priority of his administration.
"We are laying the groundwork for the full implementation of the universal healthcare and the universal healthcare program which is also aligned with the national government's program," he said.
This year, the local government has allotted 21 percent of the annual budget for the healthcare services, strengthening health human resources and rationalization of the Pasig City Health Department.
The city government has also hired 1,488 personnel in plantilla positions for the healthcare department.
Sotto said this is to ensure UHC programs are properly implemented in the city.
Sotto assured the public that the hospitals in the city are not just income-driven but also providing service.
The city government has allocated funds for the PhilHealth Insurance program of the city, he said.
Housing program, quality education
Sotto, meanwhile, vowed to provide socialized housing units with quality and accessible to public needs.
"This is the result of the people's plan, in partnership with a lot of people and various organizations along with the national government agencies," he said, adding they will ensure the safe relocation of the residents living in the floodway areas and get financial assistance.
Sotto said the city government has also allocated PHP350 million to sustain the education system in the city.
"For the repair of our 44 schools and school buildings, we have allocated PHP350 million, halos lahat po nito ay tapos na (almost all of these are already done)," Sotto said.
Sotto, however, said he is saddened that students will not be able to see and use these facilities as face-to-face classes remain prohibited due to the coronavirus disease (Covid-19) pandemic.
He lauded the Pamantasan ng Lungsod ng Pasig (PLP) for aiming to raise the standard of tertiary education in the city.
The university would admit 1,000 students this coming school year.
A total of 16, 000 students are now enjoying the benefits of the Pasig City scholarship program, he said, this program ensures the residents to have better opportunities on education services.
Sotto said while the Division of City Schools-Pasig will adopt a "distance learning modality" for this school year, the local government would continue to provide educational materials for the students.
"We will help the Department of Education, our students, and their families by providing 138, 000 learning pockets, tablets or laptops depending on the students' needs," he said.
The local government will provide 3,500 tablets to the PLP enrollees, Sotto said.
"We need to make sure that the students' learning will not be deferred," he said.
Sotto vowed full support to education services during the health crisis.
"I know the next school year is going to be difficult but just enroll yourself in school and we will help you," he said.
Sotto earlier said the Pasig government has raised PHP1.2 billion to provide tablets, laptops, and computers to its students enrolled in public elementary, junior and senior high school, and their teachers.
Unhampered services
Sotto assured the government under his watch, will continue to provide basic services to the residents without being politicized.
"A continuous public service for those who are in need without being politicized. The services we would like to extend are those services that will last--those services that will uplift the lives of the citizens, that's empowerment,” he said.
The city government is also providing assistance to more than 80,000 registered senior citizens and more than 5,000 persons with disabilities in Pasig, which includes hospitalization, burial assistance, social pension, cash gift (pamaskong handog), centenarian and hospice, Sotto said.
For the first time, he said, persons with disabilities have received a 'Christmas bonus''—cash grant amounting to PHP1,500 while senior citizens will continue to receive cash incentives amounting to PHP3,000.
The distribution system of cash grants has also been corrected to enable faster processing, he said.
The city government has also launched the Social Welfare Assistance Center (SWAC) which provides medical, financial/burial, hospital assistance, and Project Damayan to the Pasig residents.
A new system of the Pamaskong Handog or Christmas incentives was launched during Sotto's administration wherein food packs and other items are delivered house-to-house directly to the residents.
The provision of house-to-house incentives has become strategically useful in the data-driven decision-making during these trying times, Sotto said.
"The system that we introduced through pamaskong handog has helped us in collecting data and other information about Pasigueño families. These have been useful during our pandemic response," Sotto said.
"This is a stand against patronage politics and a stand for good and fair governance that does not look of any political color or affiliation," he added.
Transparency
Sotto has pushed prudent transparency in the local government processes and other procurement activities in Pasig.
The intensive planning of programs and projects, he said, has helped the city to save a lot from the local government funds and has able to provide supplemental budget needed during the coronavirus health crisis.
"We also aim to improve our ease of doing business, we have partnered with institutions and other government agencies including the Anti-Red Tape Authority in developing the electronic business one-stop-shop," Sotto said. "We are constantly improving the business-friendly environment of our city, streamlining the permit processing, changes in zoning, and assessment upholding the Anti-Red Tape Act."
Sotto also announced the TAPAT program which will help the residents and local government to recover its economic activities affected by the coronavirus pandemic.
Covid-19 response
Sotto thanked the medical front-liners, volunteers, security forces, private sectors, and other national government agencies for providing services to Pasig residents amid the coronavirus pandemic.
For the last three months, the Pasig government has received in-kind donations amounting to not less than PHP30 million which include protective gears, medicine, food packs, and among others.
"We adopted a holistic approach in our response to Covid-19--to this pandemic, medical, socio-economic, even looking out for the mental health of our front-liners," he said.
Through Executive Order 16, the city government has established the medical management and control of the coronavirus.
Pasig has also created a local task force and an incident management team actively coordinating with the Department of Health (DOH), national government agencies and offices within the city, to contain the spread of Covid-19.
"We initiated a partnership with the national government agencies, with the private sectors, and medical facilities to ensure that all of our efforts and resources ill be channeled properly and efficiently in our response to this medical emergency," he said.
Pasig ensures that the health centers are fully functional and the super health centers are operating 24/7 for the residents needed medical attention on Covid-19.
Various quarantine facilities have been established to house patients with confirmed Covid-19 cases, Sotto said.
"In our first few weeks under the enhanced community quarantine, both hospitals are reporting admission of Covid-19 cases and the situation, to be honest, was becoming quite alarming with the growing number of health front-liners being affected, as well as limited supplies of equipment and protective gears," he added.
The local government has converted the Pasig City Children Hospital into the city’s Covid-19 referral facility.
"This helps us to reduce the risk of cross-contamination, this helps us to minimize or at least lessen the use of PPE and it allowed the Pasig City General Hospital to resume normal operations," he said.
Pasig has strengthened its Covid-19 testing capacity, contract tracing capabilities, and medical management.
Sotto said the Pasig City Molecular Laboratory is set to be operational and functional which will hasten the polymerase chain reaction (PCR) and the rapid antibody testing to high-risk sectors and symptomatic patients from the healthcare centers.
Sotto reminded the local government officials to embrace good governance and avoid corrupt practices.
"If you do not cooperate with the change, you do not embrace the principle of good governance--you are fighting an entire generation of Pasigueño who are already fed up with the old habits," he said.
Sotto then vowed to continue the change his administration has started.
"We must continue to show that here in Pasig we have new leadership, here in Pasig abandoning old habits--those old habits that we know are not right, here in Pasig we embrace good governance because here in Pasig, hope flows," Sotto said. (PNA)
***
References:
* Philippine News Agency. "Pasig mayor vows 'unpoliticized', principled public service." Philippine News Agency. https://www.pna.gov.ph/articles/1107826 (accessed July 03, 2020 at 07:05PM UTC+14).
* Philippine News Agency. "Pasig mayor vows 'unpoliticized', principled public service." Archive Today. https://archive.ph/?run=1&url=https://www.pna.gov.ph/articles/1107826 (archived).
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Fatty Alcohol Alkoxylates Market Report 2019 - Global Industry Analysis, Trends, Market Size and Forecasts up to 2023
Market Analysis:
The Global Fatty Alcohol Alkoxylates Market is predicted to touch USD 787.8 million at a promising 5.0% CAGR over the forecast period (2016-2023). Fatty Alcohol Alkoxylates or FAA is a non-ionic surfactant which is made by the alkoxylation of the fatty alcohols by adding propylene oxide (PO) and ethylene oxide (EO). It is used across various industries such as Personal Care, Textile, Detergent Intermediates, Industrial and Institutional Cleaning and Household Cleaning. Its various applications include dispersion applications, emulsifiers and wetting agents. The fatty alcohols derived from the synthetic and natural routes of production are used for preparing Fatty Alcohol Alkoxylates.
There are a couple of factors that is driving the growth of the Fatty Alcohol Alkoxylates Market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include the demand for non-toxic and biodegradable surfactants from leading Fatty Alcohol Alkoxylates end uses such as I & I cleaning and household cleaning, growth of the personal care industry and migration and capacity expansion of cosmetic manufacturers to developing markets.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/3843
Market Segmentation:
Market Research Future report provides a comprehensive segmental analysis of the Fatty Alcohol Alkoxylates Market on the basis of Types and Application.
Based on Types, it is segmented into Petroleum Based FAA and Oleochemical Based FAA. The petroleum-based FAA is further segmented into propylene oligomer alkoxylates, ethylene alkoxylate and olefin alkoxylate. The oleochemical based FAA is further segmented into Stearyl alcohol alkoxylate, stearyl behnyl alkoxylate, behnyl alcohol alkoxylate, cetostearyl alcohol alkoxylate and lauryl alcohol alkoxylate.
Based on Application, the Fatty Alcohol Alkoxylates Market is segmented into personal care, textile, I&I cleaning, detergent intermediates and household cleaning.
Regional Analysis:
Based on Region, the Fatty Alcohol Alkoxylates Market covers growth opportunities and latest trends across North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Of these, Asia Pacific dominates the market and accounts for about 40% of the share. The factors that account for the growth of the market in this region include rapid industrialization, urbanization and ongoing infrastructural development.
In this Region, China has the maximum share followed by Japan and South Korea. It is North America that has the second biggest share with regards to volume and value. The regulations allied to the non-ionic surfactants’ toxicity and biodegradability in this region is a key factor that is driving the market growth. Moreover, the penetration of automatic dishwashers and front load machines in households coupled with the prevalence of laundromat services and auto wash centers here can further contribute towards Fatty Alcohol Alkoxylates Market growth in this region.
Competitive Analysis:
The Global Fatty Alcohol Alkoxylates Market is highly competitive and appears to be extremely fragmented due to the existence of a good number of small and large players active within the regional market. Some of the key strategies that the key players in the market has adopted include expansion and merger and acquisition. Expansion and acquisition however were the second most commonly used strategy by the players. The companies indeed are building with distributors and local manufacturers a strong strategic partnership with an aim to cut down the gap amid the customer and supplier of the Fatty Alcohol Alkoxylates. Following the existence of key players and advancement in technology has made Fatty Alcohol Alkoxylates a profitable opportunity in their applications.
Key Players:
Leading players profiled in the Fatty Alcohol Alkoxylates Market include Stepan Company, SASOL, Croda International Plc, Clariant International AG, KLK OLEO, Huntsman Corporation and BASF SE.
Sept 2018- Oxiteno has started an alkoxylation plant recently in Texas having a capacity of more than 170, 000 tonnes per year. The plant will produce an array of specialty alkoxylates and nonionic surfactants. These products will be sold in different markets including paints and coatings, oilfield chemicals, personal care, institutional and industrial cleaning, home care and agrochemicals.
March 2018- Specialty chemical maker BASF is all set in expanding its reach with a new facility in Texas. This facility worth $150 million will be devoted in the production of various ethoxylated products by mixing ethylene oxide in the substrate compound.
Have Any Query? Ask Our Expert @ https://www.marketresearchfuture.com/enquiry/3843
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact: Market Research Future +1 646 845 9312 Email: [email protected]
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More bubbles, booms expected as Bitcoin turns 10
More bubbles, booms expected as Bitcoin turns 10
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin.
As the world’s most popular crypto-currency, Bitcoin turned 10 last week, there will be many more bubbles, booms and busts.
That’s according to industry players as the crypto-currency marked its tenth anniversary.
“Satoshi Nakamoto” is presumed to be a pseudonym for the person or people who designed the original Bitcoin protocol in 2008 and launched the network in 2009.
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin (block number 0), which had a reward of 50 Bitcoins. The recipient of the first Bitcoin transaction was programmer Hal Finney, who received 10 Bitcoins from Nakamoto.
From January 2009 to March 2010, Bitcoin’s value was basically zero and in May 2010, it was less than $0.01.
Over the course of Bitcoin’s history, it has undergone rapid growth to become a significant currency both on and offline – from the mid-2010s, some businesses began accepting Bitcoin in addition to traditional currencies.
Since then, based on Bitcoin’s open source code, thousands of other crypto-currencies have emerged.
Below are some of the highlights in Bitcoin’s history:
In June 2011, WikiLeaks and other organisations began to accept Bitcoins for donations. In October 2012, BitPay reported having over 1 000 merchants accepting Bitcoin under its payment processing service. In November 2012, WordPress had started accepting Bitcoins.
In February 2013, the Bitcoin-based payment processor Coinbase reported selling $1 million worth of Bitcoins in a single month at over $22 per Bitcoin.
In early February 2014, one of the largest Bitcoin exchanges, Mt Gox, suspended withdrawals citing technical issues. By the end of the month, Mt Gox had filed for bankruptcy protection in Japan amid reports that 744 000 Bitcoins had been stolen.
Less than one year after the collapse of Mt Gox, UK-based exchange Bitstamp announced that its exchange would be taken offline while they investigate a hack which resulted in about 19 000 Bitcoins (equivalent to roughly $5 million at that time) being stolen from its hot wallet.
In February 2015, the number of merchants accepting Bitcoin exceeded 100 000. In August 2016, a major Bitcoin exchange, Bitfinex, was hacked and nearly 120 000 BTC (around $60 million) was stolen.
In March 2016, the Cabinet of Japan recognised virtual currencies like Bitcoin as having a function similar to real money. Bidorbuy, the largest South African online marketplace, launched Bitcoin payments for both buyers and sellers.
In September 2016, the number of Bitcoin ATMs had doubled over the previous 18 months and reached 771 ATMs worldwide.
Price fluctuations have also been a major issue in Bitcoin’s history. Its peak was $20 000 in December 2017. However, the price has dramatically dropped since then. At the time of publishing, it was trading at $4 042.
Regulation of Bitcoin has also been a thorny issue in many jurisdictions. In December 2014, the South African Reserve Bank issued a position paper on virtual currencies whereby it declared that virtual currency had “no legal status or regulatory framework”. The South African Revenue Service classified Bitcoin as an intangible asset.
Blockchain popularisation
World Wide Worx MD Arthur Goldstuck comments that the true triumph of Bitcoin is the extent to which it popularised blockchain, and in effect evangelised it far beyond the world of crypto-currency.
“Long before Bitcoin and other crypto-currencies become mainstream, blockchain will be a standard tool in business, especially in financial services, trade and contracts,” says Goldstuck.
He believes the low point of Bitcoin was, without a doubt, the explosion in its value to $20 000, and the subsequent inevitable implosion.
“While there can be little sympathy for the professional speculators who knew they were gambling, many gullible people lost their life savings falling for impossible promises when they bought at the height of the bubble.
“There will be many more bubbles, booms and bust, but it remains a good long-term investment if one is not buying during a period of frenzy.”
Goldstuck points out that Bitcoin is not the only crypto-currency in town, and it is even possible it will no longer be around a decade from now.
“It’s not Bitcoin, but crypto-currency, that awaits the mainstream. When that time comes, it is also likely that all crypto-currencies will be interchangeable, not only with each other, but also with traditional currency. That will ultimately define it going mainstream.
“Some purists believe that crypto will only succeed when it replaces so-called fiat currency, but that is a silly, childish and blinkered viewpoint. In the same way that credit cards did not replace cash, and mobile money has not killed cash, it is likely that these formats of financial instrument will coexist for the foreseeable future.”
Alan Robertson, co-founder of YOU#, says Bitcoin has forever changed the way people see value exchange and store in the modern world.
“Freed from the grip of institutions who charge billions in fees while selectively providing financial services to those with means, everyone with a mobile device can, for the first time in history, do international banking almost instantly and for next to nothing.”
Nonetheless, he points out that Bitcoin’s lows are perhaps the emergence of so many scam artists who have been successful in separating people from their hard-earned money through hacking, multi-level marketing and Ponzi schemes, and in the process have left them disillusioned about the greatest technological and societal advance since the Internet.
Commenting on Bitcoin’s 10 anniversary, crypto-currency company Luno, says that “currently, Bitcoin miners get rewarded with a ‘block reward’ of 12.5 Bitcoin”.
A block reward refers to new Bitcoin granted by the blockchain network to miners. After the discovery of every 210 000 blocks, the block reward is halved, which happens around four years.
According to Luno, on average, 144 blocks are mined each day. “For those whose best friend is the calculator app on your phone, that amounts to 1 800 Bitcoin.
“Interestingly enough, research done by company Chainalysis finds that as much as 20% of all the Bitcoin in existence is missing. Therefore, while there are 17.3 million Bitcoin currently in circulation, only 11 million are accessible,” Luno says.
It explains that this block was the starting point for Bitcoin, for the crypto-currencies that followed, and for a new financial system – one which puts your own money back into your hands.
“While it may have taken a while for some to grasp the idea of crypto-currency, this momentous decennial anniversary is definitely one to celebrate.
“We’ve seen the adoption of crypto-currency explode and shrink in equal measure, but overall the industry has made incredible progress. With the community investing in building the infrastructure, we have a feeling that, although Rome wasn’t built in a day, it may be built much quicker than the haters previously thought,” Luno adds.
Original Source http://bit.ly/2LWMWJx
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More bubbles, booms expected as Bitcoin turns 10
More bubbles, booms expected as Bitcoin turns 10
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin.
As the world’s most popular crypto-currency, Bitcoin turned 10 last week, there will be many more bubbles, booms and busts.
That’s according to industry players as the crypto-currency marked its tenth anniversary.
“Satoshi Nakamoto” is presumed to be a pseudonym for the person or people who designed the original Bitcoin protocol in 2008 and launched the network in 2009.
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin (block number 0), which had a reward of 50 Bitcoins. The recipient of the first Bitcoin transaction was programmer Hal Finney, who received 10 Bitcoins from Nakamoto.
From January 2009 to March 2010, Bitcoin’s value was basically zero and in May 2010, it was less than $0.01.
Over the course of Bitcoin’s history, it has undergone rapid growth to become a significant currency both on and offline – from the mid-2010s, some businesses began accepting Bitcoin in addition to traditional currencies.
Since then, based on Bitcoin’s open source code, thousands of other crypto-currencies have emerged.
Below are some of the highlights in Bitcoin’s history:
In June 2011, WikiLeaks and other organisations began to accept Bitcoins for donations. In October 2012, BitPay reported having over 1 000 merchants accepting Bitcoin under its payment processing service. In November 2012, WordPress had started accepting Bitcoins.
In February 2013, the Bitcoin-based payment processor Coinbase reported selling $1 million worth of Bitcoins in a single month at over $22 per Bitcoin.
In early February 2014, one of the largest Bitcoin exchanges, Mt Gox, suspended withdrawals citing technical issues. By the end of the month, Mt Gox had filed for bankruptcy protection in Japan amid reports that 744 000 Bitcoins had been stolen.
Less than one year after the collapse of Mt Gox, UK-based exchange Bitstamp announced that its exchange would be taken offline while they investigate a hack which resulted in about 19 000 Bitcoins (equivalent to roughly $5 million at that time) being stolen from its hot wallet.
In February 2015, the number of merchants accepting Bitcoin exceeded 100 000. In August 2016, a major Bitcoin exchange, Bitfinex, was hacked and nearly 120 000 BTC (around $60 million) was stolen.
In March 2016, the Cabinet of Japan recognised virtual currencies like Bitcoin as having a function similar to real money. Bidorbuy, the largest South African online marketplace, launched Bitcoin payments for both buyers and sellers.
In September 2016, the number of Bitcoin ATMs had doubled over the previous 18 months and reached 771 ATMs worldwide.
Price fluctuations have also been a major issue in Bitcoin’s history. Its peak was $20 000 in December 2017. However, the price has dramatically dropped since then. At the time of publishing, it was trading at $4 042.
Regulation of Bitcoin has also been a thorny issue in many jurisdictions. In December 2014, the South African Reserve Bank issued a position paper on virtual currencies whereby it declared that virtual currency had “no legal status or regulatory framework”. The South African Revenue Service classified Bitcoin as an intangible asset.
Blockchain popularisation
World Wide Worx MD Arthur Goldstuck comments that the true triumph of Bitcoin is the extent to which it popularised blockchain, and in effect evangelised it far beyond the world of crypto-currency.
“Long before Bitcoin and other crypto-currencies become mainstream, blockchain will be a standard tool in business, especially in financial services, trade and contracts,” says Goldstuck.
He believes the low point of Bitcoin was, without a doubt, the explosion in its value to $20 000, and the subsequent inevitable implosion.
“While there can be little sympathy for the professional speculators who knew they were gambling, many gullible people lost their life savings falling for impossible promises when they bought at the height of the bubble.
“There will be many more bubbles, booms and bust, but it remains a good long-term investment if one is not buying during a period of frenzy.”
Goldstuck points out that Bitcoin is not the only crypto-currency in town, and it is even possible it will no longer be around a decade from now.
“It’s not Bitcoin, but crypto-currency, that awaits the mainstream. When that time comes, it is also likely that all crypto-currencies will be interchangeable, not only with each other, but also with traditional currency. That will ultimately define it going mainstream.
“Some purists believe that crypto will only succeed when it replaces so-called fiat currency, but that is a silly, childish and blinkered viewpoint. In the same way that credit cards did not replace cash, and mobile money has not killed cash, it is likely that these formats of financial instrument will coexist for the foreseeable future.”
Alan Robertson, co-founder of YOU#, says Bitcoin has forever changed the way people see value exchange and store in the modern world.
“Freed from the grip of institutions who charge billions in fees while selectively providing financial services to those with means, everyone with a mobile device can, for the first time in history, do international banking almost instantly and for next to nothing.”
Nonetheless, he points out that Bitcoin’s lows are perhaps the emergence of so many scam artists who have been successful in separating people from their hard-earned money through hacking, multi-level marketing and Ponzi schemes, and in the process have left them disillusioned about the greatest technological and societal advance since the Internet.
Commenting on Bitcoin’s 10 anniversary, crypto-currency company Luno, says that “currently, Bitcoin miners get rewarded with a ‘block reward’ of 12.5 Bitcoin”.
A block reward refers to new Bitcoin granted by the blockchain network to miners. After the discovery of every 210 000 blocks, the block reward is halved, which happens around four years.
According to Luno, on average, 144 blocks are mined each day. “For those whose best friend is the calculator app on your phone, that amounts to 1 800 Bitcoin.
“Interestingly enough, research done by company Chainalysis finds that as much as 20% of all the Bitcoin in existence is missing. Therefore, while there are 17.3 million Bitcoin currently in circulation, only 11 million are accessible,” Luno says.
It explains that this block was the starting point for Bitcoin, for the crypto-currencies that followed, and for a new financial system – one which puts your own money back into your hands.
“While it may have taken a while for some to grasp the idea of crypto-currency, this momentous decennial anniversary is definitely one to celebrate.
“We’ve seen the adoption of crypto-currency explode and shrink in equal measure, but overall the industry has made incredible progress. With the community investing in building the infrastructure, we have a feeling that, although Rome wasn’t built in a day, it may be built much quicker than the haters previously thought,” Luno adds.
Original Source http://bit.ly/2LWMWJx
0 notes
Text
More bubbles, booms expected as Bitcoin turns 10
More bubbles, booms expected as Bitcoin turns 10
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin.
As the world’s most popular crypto-currency, Bitcoin turned 10 last week, there will be many more bubbles, booms and busts.
That’s according to industry players as the crypto-currency marked its tenth anniversary.
“Satoshi Nakamoto” is presumed to be a pseudonym for the person or people who designed the original Bitcoin protocol in 2008 and launched the network in 2009.
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin (block number 0), which had a reward of 50 Bitcoins. The recipient of the first Bitcoin transaction was programmer Hal Finney, who received 10 Bitcoins from Nakamoto.
From January 2009 to March 2010, Bitcoin’s value was basically zero and in May 2010, it was less than $0.01.
Over the course of Bitcoin’s history, it has undergone rapid growth to become a significant currency both on and offline – from the mid-2010s, some businesses began accepting Bitcoin in addition to traditional currencies.
Since then, based on Bitcoin’s open source code, thousands of other crypto-currencies have emerged.
Below are some of the highlights in Bitcoin’s history:
In June 2011, WikiLeaks and other organisations began to accept Bitcoins for donations. In October 2012, BitPay reported having over 1 000 merchants accepting Bitcoin under its payment processing service. In November 2012, WordPress had started accepting Bitcoins.
In February 2013, the Bitcoin-based payment processor Coinbase reported selling $1 million worth of Bitcoins in a single month at over $22 per Bitcoin.
In early February 2014, one of the largest Bitcoin exchanges, Mt Gox, suspended withdrawals citing technical issues. By the end of the month, Mt Gox had filed for bankruptcy protection in Japan amid reports that 744 000 Bitcoins had been stolen.
Less than one year after the collapse of Mt Gox, UK-based exchange Bitstamp announced that its exchange would be taken offline while they investigate a hack which resulted in about 19 000 Bitcoins (equivalent to roughly $5 million at that time) being stolen from its hot wallet.
In February 2015, the number of merchants accepting Bitcoin exceeded 100 000. In August 2016, a major Bitcoin exchange, Bitfinex, was hacked and nearly 120 000 BTC (around $60 million) was stolen.
In March 2016, the Cabinet of Japan recognised virtual currencies like Bitcoin as having a function similar to real money. Bidorbuy, the largest South African online marketplace, launched Bitcoin payments for both buyers and sellers.
In September 2016, the number of Bitcoin ATMs had doubled over the previous 18 months and reached 771 ATMs worldwide.
Price fluctuations have also been a major issue in Bitcoin’s history. Its peak was $20 000 in December 2017. However, the price has dramatically dropped since then. At the time of publishing, it was trading at $4 042.
Regulation of Bitcoin has also been a thorny issue in many jurisdictions. In December 2014, the South African Reserve Bank issued a position paper on virtual currencies whereby it declared that virtual currency had “no legal status or regulatory framework”. The South African Revenue Service classified Bitcoin as an intangible asset.
Blockchain popularisation
World Wide Worx MD Arthur Goldstuck comments that the true triumph of Bitcoin is the extent to which it popularised blockchain, and in effect evangelised it far beyond the world of crypto-currency.
“Long before Bitcoin and other crypto-currencies become mainstream, blockchain will be a standard tool in business, especially in financial services, trade and contracts,” says Goldstuck.
He believes the low point of Bitcoin was, without a doubt, the explosion in its value to $20 000, and the subsequent inevitable implosion.
“While there can be little sympathy for the professional speculators who knew they were gambling, many gullible people lost their life savings falling for impossible promises when they bought at the height of the bubble.
“There will be many more bubbles, booms and bust, but it remains a good long-term investment if one is not buying during a period of frenzy.”
Goldstuck points out that Bitcoin is not the only crypto-currency in town, and it is even possible it will no longer be around a decade from now.
“It’s not Bitcoin, but crypto-currency, that awaits the mainstream. When that time comes, it is also likely that all crypto-currencies will be interchangeable, not only with each other, but also with traditional currency. That will ultimately define it going mainstream.
“Some purists believe that crypto will only succeed when it replaces so-called fiat currency, but that is a silly, childish and blinkered viewpoint. In the same way that credit cards did not replace cash, and mobile money has not killed cash, it is likely that these formats of financial instrument will coexist for the foreseeable future.”
Alan Robertson, co-founder of YOU#, says Bitcoin has forever changed the way people see value exchange and store in the modern world.
“Freed from the grip of institutions who charge billions in fees while selectively providing financial services to those with means, everyone with a mobile device can, for the first time in history, do international banking almost instantly and for next to nothing.”
Nonetheless, he points out that Bitcoin’s lows are perhaps the emergence of so many scam artists who have been successful in separating people from their hard-earned money through hacking, multi-level marketing and Ponzi schemes, and in the process have left them disillusioned about the greatest technological and societal advance since the Internet.
Commenting on Bitcoin’s 10 anniversary, crypto-currency company Luno, says that “currently, Bitcoin miners get rewarded with a ‘block reward’ of 12.5 Bitcoin”.
A block reward refers to new Bitcoin granted by the blockchain network to miners. After the discovery of every 210 000 blocks, the block reward is halved, which happens around four years.
According to Luno, on average, 144 blocks are mined each day. “For those whose best friend is the calculator app on your phone, that amounts to 1 800 Bitcoin.
“Interestingly enough, research done by company Chainalysis finds that as much as 20% of all the Bitcoin in existence is missing. Therefore, while there are 17.3 million Bitcoin currently in circulation, only 11 million are accessible,” Luno says.
It explains that this block was the starting point for Bitcoin, for the crypto-currencies that followed, and for a new financial system – one which puts your own money back into your hands.
“While it may have taken a while for some to grasp the idea of crypto-currency, this momentous decennial anniversary is definitely one to celebrate.
“We’ve seen the adoption of crypto-currency explode and shrink in equal measure, but overall the industry has made incredible progress. With the community investing in building the infrastructure, we have a feeling that, although Rome wasn’t built in a day, it may be built much quicker than the haters previously thought,” Luno adds.
Original Source http://bit.ly/2LWMWJx
0 notes
Text
More bubbles, booms expected as Bitcoin turns 10
More bubbles, booms expected as Bitcoin turns 10
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin.
As the world’s most popular crypto-currency, Bitcoin turned 10 last week, there will be many more bubbles, booms and busts.
That’s according to industry players as the crypto-currency marked its tenth anniversary.
“Satoshi Nakamoto” is presumed to be a pseudonym for the person or people who designed the original Bitcoin protocol in 2008 and launched the network in 2009.
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin (block number 0), which had a reward of 50 Bitcoins. The recipient of the first Bitcoin transaction was programmer Hal Finney, who received 10 Bitcoins from Nakamoto.
From January 2009 to March 2010, Bitcoin’s value was basically zero and in May 2010, it was less than $0.01.
Over the course of Bitcoin’s history, it has undergone rapid growth to become a significant currency both on and offline – from the mid-2010s, some businesses began accepting Bitcoin in addition to traditional currencies.
Since then, based on Bitcoin’s open source code, thousands of other crypto-currencies have emerged.
Below are some of the highlights in Bitcoin’s history:
In June 2011, WikiLeaks and other organisations began to accept Bitcoins for donations. In October 2012, BitPay reported having over 1 000 merchants accepting Bitcoin under its payment processing service. In November 2012, WordPress had started accepting Bitcoins.
In February 2013, the Bitcoin-based payment processor Coinbase reported selling $1 million worth of Bitcoins in a single month at over $22 per Bitcoin.
In early February 2014, one of the largest Bitcoin exchanges, Mt Gox, suspended withdrawals citing technical issues. By the end of the month, Mt Gox had filed for bankruptcy protection in Japan amid reports that 744 000 Bitcoins had been stolen.
Less than one year after the collapse of Mt Gox, UK-based exchange Bitstamp announced that its exchange would be taken offline while they investigate a hack which resulted in about 19 000 Bitcoins (equivalent to roughly $5 million at that time) being stolen from its hot wallet.
In February 2015, the number of merchants accepting Bitcoin exceeded 100 000. In August 2016, a major Bitcoin exchange, Bitfinex, was hacked and nearly 120 000 BTC (around $60 million) was stolen.
In March 2016, the Cabinet of Japan recognised virtual currencies like Bitcoin as having a function similar to real money. Bidorbuy, the largest South African online marketplace, launched Bitcoin payments for both buyers and sellers.
In September 2016, the number of Bitcoin ATMs had doubled over the previous 18 months and reached 771 ATMs worldwide.
Price fluctuations have also been a major issue in Bitcoin’s history. Its peak was $20 000 in December 2017. However, the price has dramatically dropped since then. At the time of publishing, it was trading at $4 042.
Regulation of Bitcoin has also been a thorny issue in many jurisdictions. In December 2014, the South African Reserve Bank issued a position paper on virtual currencies whereby it declared that virtual currency had “no legal status or regulatory framework”. The South African Revenue Service classified Bitcoin as an intangible asset.
Blockchain popularisation
World Wide Worx MD Arthur Goldstuck comments that the true triumph of Bitcoin is the extent to which it popularised blockchain, and in effect evangelised it far beyond the world of crypto-currency.
“Long before Bitcoin and other crypto-currencies become mainstream, blockchain will be a standard tool in business, especially in financial services, trade and contracts,” says Goldstuck.
He believes the low point of Bitcoin was, without a doubt, the explosion in its value to $20 000, and the subsequent inevitable implosion.
“While there can be little sympathy for the professional speculators who knew they were gambling, many gullible people lost their life savings falling for impossible promises when they bought at the height of the bubble.
“There will be many more bubbles, booms and bust, but it remains a good long-term investment if one is not buying during a period of frenzy.”
Goldstuck points out that Bitcoin is not the only crypto-currency in town, and it is even possible it will no longer be around a decade from now.
“It’s not Bitcoin, but crypto-currency, that awaits the mainstream. When that time comes, it is also likely that all crypto-currencies will be interchangeable, not only with each other, but also with traditional currency. That will ultimately define it going mainstream.
“Some purists believe that crypto will only succeed when it replaces so-called fiat currency, but that is a silly, childish and blinkered viewpoint. In the same way that credit cards did not replace cash, and mobile money has not killed cash, it is likely that these formats of financial instrument will coexist for the foreseeable future.”
Alan Robertson, co-founder of YOU#, says Bitcoin has forever changed the way people see value exchange and store in the modern world.
“Freed from the grip of institutions who charge billions in fees while selectively providing financial services to those with means, everyone with a mobile device can, for the first time in history, do international banking almost instantly and for next to nothing.”
Nonetheless, he points out that Bitcoin’s lows are perhaps the emergence of so many scam artists who have been successful in separating people from their hard-earned money through hacking, multi-level marketing and Ponzi schemes, and in the process have left them disillusioned about the greatest technological and societal advance since the Internet.
Commenting on Bitcoin’s 10 anniversary, crypto-currency company Luno, says that “currently, Bitcoin miners get rewarded with a ‘block reward’ of 12.5 Bitcoin”.
A block reward refers to new Bitcoin granted by the blockchain network to miners. After the discovery of every 210 000 blocks, the block reward is halved, which happens around four years.
According to Luno, on average, 144 blocks are mined each day. “For those whose best friend is the calculator app on your phone, that amounts to 1 800 Bitcoin.
“Interestingly enough, research done by company Chainalysis finds that as much as 20% of all the Bitcoin in existence is missing. Therefore, while there are 17.3 million Bitcoin currently in circulation, only 11 million are accessible,” Luno says.
It explains that this block was the starting point for Bitcoin, for the crypto-currencies that followed, and for a new financial system – one which puts your own money back into your hands.
“While it may have taken a while for some to grasp the idea of crypto-currency, this momentous decennial anniversary is definitely one to celebrate.
“We’ve seen the adoption of crypto-currency explode and shrink in equal measure, but overall the industry has made incredible progress. With the community investing in building the infrastructure, we have a feeling that, although Rome wasn’t built in a day, it may be built much quicker than the haters previously thought,” Luno adds.
Original Source http://bit.ly/2LWMWJx
0 notes
Text
More bubbles, booms expected as Bitcoin turns 10
More bubbles, booms expected as Bitcoin turns 10
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin.
As the world’s most popular crypto-currency, Bitcoin turned 10 last week, there will be many more bubbles, booms and busts.
That’s according to industry players as the crypto-currency marked its tenth anniversary.
“Satoshi Nakamoto” is presumed to be a pseudonym for the person or people who designed the original Bitcoin protocol in 2008 and launched the network in 2009.
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin (block number 0), which had a reward of 50 Bitcoins. The recipient of the first Bitcoin transaction was programmer Hal Finney, who received 10 Bitcoins from Nakamoto.
From January 2009 to March 2010, Bitcoin’s value was basically zero and in May 2010, it was less than $0.01.
Over the course of Bitcoin’s history, it has undergone rapid growth to become a significant currency both on and offline – from the mid-2010s, some businesses began accepting Bitcoin in addition to traditional currencies.
Since then, based on Bitcoin’s open source code, thousands of other crypto-currencies have emerged.
Below are some of the highlights in Bitcoin’s history:
In June 2011, WikiLeaks and other organisations began to accept Bitcoins for donations. In October 2012, BitPay reported having over 1 000 merchants accepting Bitcoin under its payment processing service. In November 2012, WordPress had started accepting Bitcoins.
In February 2013, the Bitcoin-based payment processor Coinbase reported selling $1 million worth of Bitcoins in a single month at over $22 per Bitcoin.
In early February 2014, one of the largest Bitcoin exchanges, Mt Gox, suspended withdrawals citing technical issues. By the end of the month, Mt Gox had filed for bankruptcy protection in Japan amid reports that 744 000 Bitcoins had been stolen.
Less than one year after the collapse of Mt Gox, UK-based exchange Bitstamp announced that its exchange would be taken offline while they investigate a hack which resulted in about 19 000 Bitcoins (equivalent to roughly $5 million at that time) being stolen from its hot wallet.
In February 2015, the number of merchants accepting Bitcoin exceeded 100 000. In August 2016, a major Bitcoin exchange, Bitfinex, was hacked and nearly 120 000 BTC (around $60 million) was stolen.
In March 2016, the Cabinet of Japan recognised virtual currencies like Bitcoin as having a function similar to real money. Bidorbuy, the largest South African online marketplace, launched Bitcoin payments for both buyers and sellers.
In September 2016, the number of Bitcoin ATMs had doubled over the previous 18 months and reached 771 ATMs worldwide.
Price fluctuations have also been a major issue in Bitcoin’s history. Its peak was $20 000 in December 2017. However, the price has dramatically dropped since then. At the time of publishing, it was trading at $4 042.
Regulation of Bitcoin has also been a thorny issue in many jurisdictions. In December 2014, the South African Reserve Bank issued a position paper on virtual currencies whereby it declared that virtual currency had “no legal status or regulatory framework”. The South African Revenue Service classified Bitcoin as an intangible asset.
Blockchain popularisation
World Wide Worx MD Arthur Goldstuck comments that the true triumph of Bitcoin is the extent to which it popularised blockchain, and in effect evangelised it far beyond the world of crypto-currency.
“Long before Bitcoin and other crypto-currencies become mainstream, blockchain will be a standard tool in business, especially in financial services, trade and contracts,” says Goldstuck.
He believes the low point of Bitcoin was, without a doubt, the explosion in its value to $20 000, and the subsequent inevitable implosion.
“While there can be little sympathy for the professional speculators who knew they were gambling, many gullible people lost their life savings falling for impossible promises when they bought at the height of the bubble.
“There will be many more bubbles, booms and bust, but it remains a good long-term investment if one is not buying during a period of frenzy.”
Goldstuck points out that Bitcoin is not the only crypto-currency in town, and it is even possible it will no longer be around a decade from now.
“It’s not Bitcoin, but crypto-currency, that awaits the mainstream. When that time comes, it is also likely that all crypto-currencies will be interchangeable, not only with each other, but also with traditional currency. That will ultimately define it going mainstream.
“Some purists believe that crypto will only succeed when it replaces so-called fiat currency, but that is a silly, childish and blinkered viewpoint. In the same way that credit cards did not replace cash, and mobile money has not killed cash, it is likely that these formats of financial instrument will coexist for the foreseeable future.”
Alan Robertson, co-founder of YOU#, says Bitcoin has forever changed the way people see value exchange and store in the modern world.
“Freed from the grip of institutions who charge billions in fees while selectively providing financial services to those with means, everyone with a mobile device can, for the first time in history, do international banking almost instantly and for next to nothing.”
Nonetheless, he points out that Bitcoin’s lows are perhaps the emergence of so many scam artists who have been successful in separating people from their hard-earned money through hacking, multi-level marketing and Ponzi schemes, and in the process have left them disillusioned about the greatest technological and societal advance since the Internet.
Commenting on Bitcoin’s 10 anniversary, crypto-currency company Luno, says that “currently, Bitcoin miners get rewarded with a ‘block reward’ of 12.5 Bitcoin”.
A block reward refers to new Bitcoin granted by the blockchain network to miners. After the discovery of every 210 000 blocks, the block reward is halved, which happens around four years.
According to Luno, on average, 144 blocks are mined each day. “For those whose best friend is the calculator app on your phone, that amounts to 1 800 Bitcoin.
“Interestingly enough, research done by company Chainalysis finds that as much as 20% of all the Bitcoin in existence is missing. Therefore, while there are 17.3 million Bitcoin currently in circulation, only 11 million are accessible,” Luno says.
It explains that this block was the starting point for Bitcoin, for the crypto-currencies that followed, and for a new financial system – one which puts your own money back into your hands.
“While it may have taken a while for some to grasp the idea of crypto-currency, this momentous decennial anniversary is definitely one to celebrate.
“We’ve seen the adoption of crypto-currency explode and shrink in equal measure, but overall the industry has made incredible progress. With the community investing in building the infrastructure, we have a feeling that, although Rome wasn’t built in a day, it may be built much quicker than the haters previously thought,” Luno adds.
Original Source http://bit.ly/2LWMWJx
0 notes
Text
More bubbles, booms expected as Bitcoin turns 10
More bubbles, booms expected as Bitcoin turns 10
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin.
As the world’s most popular crypto-currency, Bitcoin turned 10 last week, there will be many more bubbles, booms and busts.
That’s according to industry players as the crypto-currency marked its tenth anniversary.
“Satoshi Nakamoto” is presumed to be a pseudonym for the person or people who designed the original Bitcoin protocol in 2008 and launched the network in 2009.
On 3 January 2009, the Bitcoin network came into existence with Nakamoto mining the genesis block of Bitcoin (block number 0), which had a reward of 50 Bitcoins. The recipient of the first Bitcoin transaction was programmer Hal Finney, who received 10 Bitcoins from Nakamoto.
From January 2009 to March 2010, Bitcoin’s value was basically zero and in May 2010, it was less than $0.01.
Over the course of Bitcoin’s history, it has undergone rapid growth to become a significant currency both on and offline – from the mid-2010s, some businesses began accepting Bitcoin in addition to traditional currencies.
Since then, based on Bitcoin’s open source code, thousands of other crypto-currencies have emerged.
Below are some of the highlights in Bitcoin’s history:
In June 2011, WikiLeaks and other organisations began to accept Bitcoins for donations. In October 2012, BitPay reported having over 1 000 merchants accepting Bitcoin under its payment processing service. In November 2012, WordPress had started accepting Bitcoins.
In February 2013, the Bitcoin-based payment processor Coinbase reported selling $1 million worth of Bitcoins in a single month at over $22 per Bitcoin.
In early February 2014, one of the largest Bitcoin exchanges, Mt Gox, suspended withdrawals citing technical issues. By the end of the month, Mt Gox had filed for bankruptcy protection in Japan amid reports that 744 000 Bitcoins had been stolen.
Less than one year after the collapse of Mt Gox, UK-based exchange Bitstamp announced that its exchange would be taken offline while they investigate a hack which resulted in about 19 000 Bitcoins (equivalent to roughly $5 million at that time) being stolen from its hot wallet.
In February 2015, the number of merchants accepting Bitcoin exceeded 100 000. In August 2016, a major Bitcoin exchange, Bitfinex, was hacked and nearly 120 000 BTC (around $60 million) was stolen.
In March 2016, the Cabinet of Japan recognised virtual currencies like Bitcoin as having a function similar to real money. Bidorbuy, the largest South African online marketplace, launched Bitcoin payments for both buyers and sellers.
In September 2016, the number of Bitcoin ATMs had doubled over the previous 18 months and reached 771 ATMs worldwide.
Price fluctuations have also been a major issue in Bitcoin’s history. Its peak was $20 000 in December 2017. However, the price has dramatically dropped since then. At the time of publishing, it was trading at $4 042.
Regulation of Bitcoin has also been a thorny issue in many jurisdictions. In December 2014, the South African Reserve Bank issued a position paper on virtual currencies whereby it declared that virtual currency had “no legal status or regulatory framework”. The South African Revenue Service classified Bitcoin as an intangible asset.
Blockchain popularisation
World Wide Worx MD Arthur Goldstuck comments that the true triumph of Bitcoin is the extent to which it popularised blockchain, and in effect evangelised it far beyond the world of crypto-currency.
“Long before Bitcoin and other crypto-currencies become mainstream, blockchain will be a standard tool in business, especially in financial services, trade and contracts,” says Goldstuck.
He believes the low point of Bitcoin was, without a doubt, the explosion in its value to $20 000, and the subsequent inevitable implosion.
“While there can be little sympathy for the professional speculators who knew they were gambling, many gullible people lost their life savings falling for impossible promises when they bought at the height of the bubble.
“There will be many more bubbles, booms and bust, but it remains a good long-term investment if one is not buying during a period of frenzy.”
Goldstuck points out that Bitcoin is not the only crypto-currency in town, and it is even possible it will no longer be around a decade from now.
“It’s not Bitcoin, but crypto-currency, that awaits the mainstream. When that time comes, it is also likely that all crypto-currencies will be interchangeable, not only with each other, but also with traditional currency. That will ultimately define it going mainstream.
“Some purists believe that crypto will only succeed when it replaces so-called fiat currency, but that is a silly, childish and blinkered viewpoint. In the same way that credit cards did not replace cash, and mobile money has not killed cash, it is likely that these formats of financial instrument will coexist for the foreseeable future.”
Alan Robertson, co-founder of YOU#, says Bitcoin has forever changed the way people see value exchange and store in the modern world.
“Freed from the grip of institutions who charge billions in fees while selectively providing financial services to those with means, everyone with a mobile device can, for the first time in history, do international banking almost instantly and for next to nothing.”
Nonetheless, he points out that Bitcoin’s lows are perhaps the emergence of so many scam artists who have been successful in separating people from their hard-earned money through hacking, multi-level marketing and Ponzi schemes, and in the process have left them disillusioned about the greatest technological and societal advance since the Internet.
Commenting on Bitcoin’s 10 anniversary, crypto-currency company Luno, says that “currently, Bitcoin miners get rewarded with a ‘block reward’ of 12.5 Bitcoin”.
A block reward refers to new Bitcoin granted by the blockchain network to miners. After the discovery of every 210 000 blocks, the block reward is halved, which happens around four years.
According to Luno, on average, 144 blocks are mined each day. “For those whose best friend is the calculator app on your phone, that amounts to 1 800 Bitcoin.
“Interestingly enough, research done by company Chainalysis finds that as much as 20% of all the Bitcoin in existence is missing. Therefore, while there are 17.3 million Bitcoin currently in circulation, only 11 million are accessible,” Luno says.
It explains that this block was the starting point for Bitcoin, for the crypto-currencies that followed, and for a new financial system – one which puts your own money back into your hands.
“While it may have taken a while for some to grasp the idea of crypto-currency, this momentous decennial anniversary is definitely one to celebrate.
“We’ve seen the adoption of crypto-currency explode and shrink in equal measure, but overall the industry has made incredible progress. With the community investing in building the infrastructure, we have a feeling that, although Rome wasn’t built in a day, it may be built much quicker than the haters previously thought,” Luno adds.
Original Source http://bit.ly/2LWMWJx
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Text
What Is The Difference Among An Electrical Engineer And An Electrician?
Electrical engineers and electricians function with electrical recent but they technique it from different ways. In its most simple phrases, the big difference amongst the two is that 1 normally takes care of the layout factor while the other is responsible for executing the design and style. Hence, ΗΛΕΚΤΡΟΛΟΓΟΣ ΚΟΝΤΑ differ in terms of the education they obtain and the training and education they need to enter the career. Let us start off with electrical engineers. They are experts whose principal activity is to occur up with and layout distinct methods by which electrical electricity can be utilised for various merchandise or develop new kinds. They also perform a really essential function in creating sector specifications and technical specs for the manufacture and set up of distinct varieties of electrical equipment. They also conduct assessments to make sure that requirements are adopted and high quality requirements are achieved. When element of a big construction advancement, they work together with task supervisors and other associates of the crew to make positive that the venture is completed at the envisioned time and the budget is adopted. Click on Here For Educational institutions
Meanwhile, electricians are the types who are liable for installing the wiring and other methods to provide electrical power to residences, buildings and other establishments. They have to read through the complex diagrams geared up by electrical engineers and comply with this to the letter. By undertaking so, they guarantee that the occupants of the edifice can use electrical power to light up the home or constructing and make their appliances and gadgets work. In doing their obligations, they comply with the provisions of the National Electric powered Code. Sustaining electrical programs is also element of the work of electricians. They discover problems with the wiring and resolve or replace damaged lights, elements and other electrical systems. As much as education and learning and education are concerned, equally professions also differ. Electrical engineers must have a bachelor’s degree in electrical engineering, electronic engineering or electrical engineering technologies. Some choose to enroll in five-year diploma plans that award the two a bachelor’s and a master’s diploma on completion. Since practical work encounter is necessary in the area, college students can enroll in cooperative plans that don’t only instruct students in the classroom but give them with the prospect to obtain work encounter even though nonetheless studying. If they want to enhance their chances of receiving employed, they need to get accredited as Professional Engineers. This involves passing two tests and satisfying other demands. Electricians, on the other hand, enter the trade by moving into an apprenticeship system right soon after obtaining their substantial university diploma. Apprenticeships usually last for four to 5 a long time. In apprenticeship programs, pupils are taught in the classroom and are in a position to acquire useful expertise through paid on-the-occupation education. They must complete one hundred forty four several hours of complex training and two,000 hours of on-the-task instruction for every 12 months that they are in an internship software. Most states also need electricians to be licensed but in contrast to electrical engineers who require to consider two assessments to turn out to be total-fledged Professional Engineers, electricians only want to take and go 1 exam, amid other needs.
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Australian prime minister Malcolm Turnbull, the country’s most powerful political official, has directed the government’s Digital Transformation Agency (DTA) to study potential applications of blockchain technology across government.
Addressing a Senate Estimates committee on Monday night, DTA chief digital officer Peter Alexander revealed that PM Turnbull directly told the agency to explore blockchain applications after interest in the technology from other agencies and vendors, Australian publication ITNews reported.
The DTA is a government agency established in 2015 amid a wider digitization agenda that tasks the agency to assist other government bodies to undergo digitization.
Speaking to the Senate Finance and Public Administration Legislation Committee, Alexander also touched on the funding allocated to the DTA in the recent federal budget, stating:
“The Prime Minister in fact wrote to our minister [assistant minister for digital transformation Michael Keenan] and asked us to have a look at blockchain, which evolved into this particular piece of work.”
The PM’s direct mandate is a consequence of a “number of conversations with ministers and officers” about the decentralized technology, after a “number of [government] agencies had commenced looking at blockchain,” he revealed.
“ASIC [was] looking at blockchain, Immigration – now Home Affairs – was looking at blockchain and considering it, and more agencies were talking about it,” he told the senate committee, underlining a widespread effort among Australian authorities to understand and implement the innovative decentralized technology. “Lots of vendors were [also] coming to government and talking about blockchain.”
The Aussie prime minister’s marked suggestion to explore the technology draws parallels to his Indian counterpart, Narendra Modi, who said “disruptive” blockchain technology will have a “profound impact in the way we live and work“, earlier this year.
Budgeted Research Efforts Underway
As reported previously, the Australian government allocated AU$700,000 of the 2018-19 federal budget to research and explore the implementation of blockchain technology in government services.
The agency has already confirmed it is planning a blockchain prototype to deliver welfare payments to citizens in 2019. Beyond the early use case, Alexander also revealed the agency would research blockchain applicability in “settlement of trades, cargo management and even the providence of open data to ensure that is accurate.”
The DTA is already researching a prototype to deliver welfare payments over a blockchain.
Notably, the official also revealed the agency had already begun work on ‘big four’ banking giant Commonwealth Bank and other financial institutions to “have a look at how blockchain might work in the financial services sector.”
The developments come at a time when Australia’s federal scientific research organization warned the country “can’t afford” to follow the world in adopting blockchain technology, with a report urging the government to take a proactive lead in the field.
The advice hasn’t gone unheeded, with a number of efforts in both public and private sectors taking shape to study the tech. For instance, Australia’s central bank has publicly confirmed multiple endeavors to research and develop blockchain solutions while Australia’s largest stock exchange is set to become the world’s first major bourse operator to implement blockchain technology by the year 2020.
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NAR’s 2016 Expenditure and Holiday Residence Consumers Survey
travis sawyer Holiday residence income cooled off in 2015 but remained at the next greatest quantity in virtually a 10 years, although expense buys enhanced for the first time in five many years, in accordance to an yearly survey of household homebuyers released today by the National Association of Realtors®. Mirroring the strong value development seen through the U.S., the median sales cost of each getaway and investment properties surged in 2015. NAR’s 2016 Expense and Getaway Home Consumers Survey1, masking current- and new-home transactions in 2015, located that holiday-home income very last year declined to an approximated 920,000, down eighteen.five percent from their most recent peak degree of one.thirteen million in 2014. Expenditure-residence sales in 2015 jumped seven. p.c to an approximated 1.09 million from 1.02 million in 2014. Operator-occupied purchases jumped 15.9 % to three.seventy four million final year from 3.23 million in 2014 — the highest stage since 2007 (3.93 million). Product sales estimates are based on a countrywide online study like responses from over two,000 U.S. grownups who obtained a residential residence in 2015, and exclude institutional expense exercise. Lawrence Yun, NAR main economist, says trip product sales took a sizeable action back in 2015, but still arrived in at the next optimum amount given that 2006 (one.07 million). “Baby boomers at or around retirement keep on to propel the desire for next homes, although headwinds softened the overall quantity of vacation income final yr,” he stated. “The growing pool of customers amidst a dwindling quantity of cut price-priced houses led to tighter supply and fewer revenue and brought on the value of holiday houses to rise. In addition, the turbulence that hit the fiscal markets the 2nd half of the year very likely seized some would-be buyers’ obtainable money.” The median product sales cost of both holiday and expense homes soared in 2015. The median trip property price was $192,000, up 28. p.c from $a hundred and fifty,000 in 2014. The median expense-property sales cost was $143,five hundred, up fifteen.3 p.c from $124,500 a 12 months in the past. According to Yun, numerous of the metro regions with the strongest cost appreciation in 2015 ended up in the South — the most well-known location for getaway customers – and notably in many Florida marketplaces. Although elevated customer need contributed to the run-up in prices, it also likely squeezed much less affluent households searching to acquire holiday houses. Getaway-house income accounted for sixteen % of all transactions in 2015 — down from 2014 (21 %), but even now the 2nd optimum share because the survey was 1st performed in 2003. The portion of expenditure income remained unchanged from a yr in the past at 19 %, and proprietor-occupied purchases improved to 65 per cent (sixty per cent in 2014). “Despite a smaller sized share of distressed properties coming onto the industry, expense buys reversed system in 2015 right after declining for four straight several years,” says Yun. “Steadily escalating property rates and strong rental demand from customers appear to be giving a lot more specific investors assurance that buying actual estate will diversify their portfolios and generate added revenue if they decide to hire out the house.” This year’s survey discovered that in addition to more time-phrase rentals, investors are most most likely to endeavor to and lease their properties for considerably less than 30 days. Amid investors, forty two per cent did or attempted to lease their house in 2015 and program to rent their property in 2016. Twenty-4 p.c of vacation customers did or attempted to rent their property in 2015 and program to rent their residence this year. Trip consumers are much more probably to use a house manager or social media to lease their residence, even though investors are a lot more most likely to use a classic genuine estate agency. The share of getaway purchasers who paid in funds jumped to 38 percent from 30 percent in 2014, whilst cash buys by buyers reduced to 39 p.c from 41 p.c a year in the past. Of purchasers who financed their obtain with a house loan, more than 50 % (52 percent) of holiday buyers and forty four percent of buyers financed considerably less than 70 per cent of the acquire price tag. The overall pattern of less distressed houses (brief sale or foreclosures) on the market place resulted in trip purchasers and buyers buying considerably less of them in 2015. Thirty-six % of getaway purchasers (forty five p.c in 2014) and 39 p.c of investors (44 percent in 2014) purchased a distressed home a year back. Traits of Trip-Residence Buys Holiday-property customers in 2015 had a greater median home revenue ($103,seven-hundred) than these in 2014 ($ninety four,380) and acquired a property that was a median distance of 200 miles away from their major residence (unchanged from a yr back). Purchasers plan to very own their house for a median of 7 a long time, an increase from 6 many years in 2014. With much more holiday buyers getting one-family homes (fifty eight percent) in comparison to a 12 months in the past (54 p.c), the share of these buying a rental (twenty five percent) or a townhouse or row property (13 percent) decreased in this year’s survey. Forty-percent of trip customers acquired in a seaside location, 19 per cent bought in the mountains or at a lakefront and 16 per cent obtained a vacation house in the nation. Almost 50 percent of all trip homes bought very last 12 months had been in the South (forty seven p.c 41 per cent in 2014), twenty five percent were in the West (unchanged from a yr in the past), fifteen percent in the Northeast (unchanged from a yr ago) and 13 percent in the Midwest (14 p.c in 2014). Over one particular-3rd of vacation customers strategy to use their house for vacations or as a loved ones retreat (37 percent), sixteen % acquired for long term retirement ideas and only seven percent purchased to make earnings by means of renting the home, a lessen from eleven percent in 2014. Attributes of Expense-Property Purchases The normal investment-house customer in 2015 experienced a median household revenue of $ninety five,800 ($87,680 in 2014) and acquired a detached solitary-household property (sixty two per cent) that was a median length of 22 miles from their principal residence (24 miles in 2014). Expense consumers final 12 months acquired property for a assortment of motives, with an growing share from 2014 citing rental earnings as the main explanation (42 % 37 percent in 2014), adopted by reduced costs and the purchaser discovered a great deal (16 p.c), and for likely cost appreciation (fourteen %). Very likely reflecting developing demand in direction of leasing in the town, expense purchases in city areas elevated to 29 % (26 % in 2014). Obtained properties from investment buyers have been more likely to be in the South (37 percent) and in a suburban location (41 p.c). Possibly encouraged by growing housing demand and property rates, above eighty % of both trip consumers and investment purchasers imagine that now is a excellent time to acquire true estate. NAR’s 2016 Expense and Vacation Property Consumers Survey, executed in March 2016, surveyed a sample of homes that had purchased any sort of residential true estate for the duration of 2015. The survey sample was drawn from a consultant panel of U.S. grownups monitored and managed by an set up study research firm. A overall of two,053 certified older people responded to the survey. Respondents were sampled to fulfill age and cash flow quotas agent of all property purchasers drawn from the NAR 2015 Profile of House Customers and Sellers. The 2016 Investment and Holiday Residence Purchasers Study can be requested by calling 800-874-6500, or on the internet at https://store.real estate agent.org/solution/report/2016-nar-investment decision-and-holiday-home-customers-study?sku=E186-55-16. The report is totally free to NAR customers and accredited media and charges $149.ninety five for non-associates. The National Association of Realtors®, “The Voice for Genuine Estate,” is America’s biggest trade association, representing one.one million users involved in all factors of the household and commercial genuine estate industries.
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FUTURE OF DERIVATIVES IN INDIA
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Long term OF DERIVATIVES IN INDIA
Introduction
Derivatives trading began in 1865when the Chicago Board of Trade (CBOT) detailed the very first "trade traded" derivatives contract in the Usa. These contracts were termed "futures contracts". In 1919, the Chicago Butter and Egg Board, a spin-off of CBOT, was reorganized to permit futures trading. Its name was modified to Chicago Mercantile Trade (CME).The very first stock index futures contract was traded at Kansas Town Board of Trade. At the moment the most common stock index futures contract in the planet is primarily based on the Regular & Poor's five hundred Index traded on the CME. In April 1973, the Chicago Board of Options Exchangewas established up especially for the objective of trading in possibilities. The market place for possibilities developed so rapidly that by early 80s the variety of shares underlying the option contract offered every single working day exceeded the each day volume of shares traded on the New York Stock Trade. And there has been no searching again ever due to the fact.
Derivatives in India
The term 'derivative' originates from arithmetic and refers to a variable, which has been derived from an additional variable. Derivatives are so termed because they have no value of their personal. They derive their value from the value of some other asset, which is acknowledged as the underlying.
"Derivatives are specialized contracts which signify an agreement or an option to purchase or promote the underlying asset of the derivate up to a particular time in the potential at a prearranged selling price, the work out selling price."
The contract also has a mounted expiry time period primarily in the assortment of 3 to twelve months from the day of commencement of the contract. The value of the contract relies upon on the expiry time period and also on the selling price of the underlying asset. There are a lot of types of money devices that are grouped below the time period derivatives, but possibilities/futures and swaps are amid the most typical. Options or futures are unique varieties of contracts exactly where one particular occasion agrees to fork out a fee to an additional for the correct to purchase or promote a little something to the other.
Derivatives marketplaces have been in existence in India in some sort or other for a prolonged time. In the location of commodities, the Bombay Cotton Trade Association began futures trading in 1875 and, by the early 1900s India experienced one particular of the world's most significant futures industries. In 1952 the governing administration banned cash settlement and possibilities trading and derivatives trading shifted to casual forwards marketplaces. In current years, governing administration policy has modified, allowing for an greater job for market place-primarily based pricing and much less suspicion of derivatives trading. The ban on futures trading of a lot of commodities was lifted beginning in the early 2000s, and countrywide digital commodity exchanges were created.
In the fairness marketplaces, a procedure of trading termed "badla" involving some features of forwards trading experienced been in existence for decades.6 Nonetheless, the procedure led to a variety of undesirable methods and it was prohibited off and on until the Securities and Trade Board of India (SEBI) banned it for excellent in 2001. A sequence of reforms of the stock market place between 1993 and 1996 paved the way for the enhancement of trade-traded fairness derivatives marketplaces in India. In 1993, the governing administration created the NSE in collaboration with point out-owned money institutions. NSE enhanced the efficiency and transparency of the stock marketplaces by presenting a fully automated display screen-primarily based trading procedure and serious-time selling price dissemination. In 1995, a prohibition on trading possibilities was lifted. In 1996, the NSE despatched a proposal to SEBI for listing trade-traded derivatives.
The financial liberalization of the early nineties facilitated the introduction of derivatives primarily based on desire charges and international trade. A procedure of market place-identified trade charges was adopted by India in March 1993. In August 1994, the rupee was created fully convertible on current account. These reforms allowed greater integration between domestic and intercontinental marketplaces, and created a require to handle currency hazard. Figure 1 exhibits how the volatility of the trade fee between the Indian Rupee and the U.S. dollar has greater due to the fact 1991. The easing of numerous limits on the free movement of desire charges resulted in the require to handle desire fee hazard.
The Securities and Trade Board of India (SEBI) allowed trading in equities-primarily based derivatives on stock exchanges in June 2000. Appropriately the Nationwide Stock Trade (NSE) and the Bombay Stock Trade (BSE) introduced trading in futures on June nine, 2000and June twelve, 2000 respectively. At the moment futures and possibilitiesturnover on the NSE is Rs7,000-eight,000 croreapproximately. In India stock index possibilities were introduced from July two, 2001.
INTRODUCTION OF FUTURES IN INDIA
The very first by-product merchandise to be introduced in the Indian securities market place is going to be "INDEX FUTURES".
In the planet, very first index futures were traded in U.S. on Kansas Town Board of Trade (KCBT) on Worth Line Arithmetic Index (VLAI) in 1982.
Derivatives in India: chronology
December 14, 1995
The NSE sought SEBI's permission to trade index futures.
November eighteen, 1996
The LC Gupta Committee established up to draft a policy framework for index futures.
May well eleven, 1998
The LC Gupta Committee submitted a report on the policy framework for index futures.
July 7, 1999
Reserve Bank of India gave permission for OTC forward fee agreements and desire fee swaps.
May well 24, 2000
SIMEX chose Nifty for trading futures and possibilities on an Indian index.
May well twenty five, 2000
SEBI allowed the NSE and the BSE to trade in index futures.
June nine, 2000
Investing of the BSE Sensex futures commenced on the BSE.
June twelve, 2000
Investing of Nifty futures commenced on the NSE.
September twenty five, 2000
Nifty futures trading commenced on the SGX.
Works by using OF DERIVATIVES
Leveraged positions
Reduce margins than the margin funding
Index trading--market place directional trading
Hedging of portfolio
By way of index, coated phone calls, possibilities buying
Structured merchandise for larger yields
Permits taking posture in any market place affliction--bullish, bearish, volatile or neutral.
Styles OF Spinoff Instruments
Spinoff devices are categorised as:
Forward Contracts
Futures Contracts
Options
Swaps
Derivatives can also be categorised as either forward-primarily based (e.g., futures, forward contracts, and swap contracts), option-primarily based (e.g., call or set option), or combos of the two. A forward-primarily based contract obligates one particular occasion to purchase and a counter occasion to promote an underlying asset, these types of as international currency or a commodity, with equivalent hazard at a potential day at an agreed-on selling price. Possibility-primarily based contracts (e.g., call possibilities, set possibilities, caps and floors) provide the holder with a correct, but not an obligation to purchase or promote an underlying money instrument, international currency, or commodity at an agreed-on selling price during a specified time time period or at a specified day.
Forward Contracts Forward contracts are negotiated between two get-togethers, with no official regulation or trade, to obtain (prolonged posture) and promote (limited posture) a particular quantity of a particular quantity of a commodity (i.e., corn and gold), international currency, or money instrument (i.e., bonds and stock) at a specified selling price (shipping and delivery selling price), with shipping and delivery or settlement at a specified potential day (maturity day). The selling price of the underlying asset for rapid shipping and delivery is acknowledged as the place selling price.
Forward contracts may be entered into by means of an agreement with no a cash payment, offered the forward fee is equivalent to the current market place fee. Forward contracts are normally utilized to hedge the whole selling price modified of a commodity, a international currency, or a money instrument irrespective of a selling price boost or minimize.
Futures Contracts Futures are standardized contracts traded on a controlled trade to make or take shipping and delivery of a specified quantity of a commodity, a international currency, or a money instrument at a specified selling price, with shipping and delivery or settlement at a specified potential day. Futures contracts involve Treasury bonds, agricultural commodities, stock indices, desire-earning property, and international currency.
A futures contract is entered into by means of an structured trade, making use of banking institutions and brokers. These structured exchanges have clearinghouses, which may be money institutions or component of the futures trade. They interpose by themselves between the consumer and the vendor, warranty obligations, and make futures liquid with lower credit score hazard. Even though no payment is created upon coming into into a futures contract, due to the fact the underlying (i.e. desire fee, share selling price, or commodity selling price) is at-the-market place, subsequent value variations require each day mark-to-marking by cash settlement (i.e. disbursed gains and each day collected losses). Likewise, margin demands involve deposits from both get-togethers to make certain any money liabilities.
Futures contracts are utilized to hedge the whole selling price alter of a commodity, a international currency, or a money instrument due to the fact the contract value and underlying selling price alter symmetrically.
Options are legal rights to purchase or promote. For case in point, the purchaser of an option has the correct, but not the obligation, to purchase or promote a specified quantity of a individual commodity, a international currency, or a money instrument, at a specified selling price, during a specified time period of time (American option) or on a specified day (European option). An option may be settled by taking shipping and delivery of the underlying or by cash settlement, with hazard restricted to the premium.
The two principal types of option contracts are call possibilities and set possibilities, although some others incorporate stock (or fairness) possibilities, international currency possibilities, possibilities on futures, caps, floors, collars, and swaptions.
American call possibilities provide the holder with the correct to get an underlying merchandise (e.g., stock) at an work out or strike selling price, all over the option time period. The holder pays a premium for the correct to reward from the appreciation in the underlying.
American set possibilities provide the holder with the correct to promote the underlying merchandise (e.g., stock) at a particular work out or strike selling price, all over the option time period. The holder gains as the market place selling price of the underlying (stock selling price) falls down below the work out selling price.
An desire fee cap is an option that makes it possible for a cap purchaser to limit exposure to growing desire charges on its variable-fee credit card debt devices.
An desire fee flooring is an option that makes it possible for a flooring purchaser to limit exposure to reducing desire charges on its variable-fee investments.
Normally, option contracts are utilized to hedge a one particular-directional movement in the underlying commodity, international currency, or money instrument.
Swaps A swap is a flexible, personal, forward-primarily based contract or agreement, typically between two counter get-togethers to trade streams of cash flows primarily based on an agreed-on (or notional) principal amount in excess of a specified time period of time in the potential.
Swaps are generally entered into at-the-money (i.e. with minimum original cash payments because reasonable value is zero), by means of brokers or dealers who take an up-entrance cash payment or who advert just the fee to bear default hazard. The two most common swaps are desire fee swaps and international currency swaps, although others incorporate fairness swaps, commodity swaps, and swaptions.
Swaptions are possibilities on swaps that provide the holder with the correct to enter into a swap at a specified potential day at specified terms (stand-alone option in a swap) or to prolong or terminate the everyday living of an present swap (embedded option on a swap).
Swap contracts are utilized to hedge whole selling price variations (symmetrically) related to an identified hedged hazard, these types of as desire fee or international currency hazard, due to the fact both counter get-togethers acquire or shed equally.
Forward CONTRACTS
A forward contract is one particular to one particular bi-partite contract, to be performed in the potential, at the terms decided nowadays. (E.g. forward currency market place in India).
Forward contracts supply large versatility to the get-togethers to layout the contract in terms of the selling price, quantity, excellent (in scenario of commodities), shipping and delivery time and position.
Forward contracts go through from weak liquidity and default hazard.
Long term CONTRACTS
Long term contracts are organised/ standardised contracts, which are traded on the exchanges.
These contracts, getting standardised and traded on the exchanges are extremely liquid in mother nature.
In futures market place, clearing corporation/ house supplies the settlement warranty.
Every futures contract is a forward contract. They:
Are entered into by means of trade, traded on trade and clearing corporation/house supplies the settlement warranty for trades.
Are of normal quantity normal excellent (in scenario of commodities).
Have normal shipping and delivery time and position.
Characteristics
Forward Deal
Long term Deal
Operational Mechanism
Not traded on trade
Traded on trade
Deal Technical specs
Differs from trade to trade.
Contracts are standardised contracts.
Counterparty Hazard
Exists
Exists, but assumed by Clearing Corporation/ house.
Liquidation Profile
Weak Liquidity as contracts are tailor maid contracts.
Really higher Liquidity as contracts are standardised contracts.
Cost Discovery
Weak as marketplaces are fragmented.
Improved as fragmented marketplaces are introduced to the typical system.
FUTURES:
A futures contract is a standardized, transferable, trade-traded contract that requires shipping and delivery of a commodity, bond, currency, or stock index, at a specified selling price, on a specified potential day. Normally, the shipping and delivery does not take place alternatively, just before the contract expires, the holder generally "squares their posture" by having to pay or receiving the distinction between the current market place selling price of the underlying asset and the selling price stipulated in the contract.
Futures contracts are forward contracts, indicating they characterize a pledge to make a particular transaction at a potential day. The trade of property happens on the day specified in the contract. Futures are distinguished from generic forward contracts in that they contain standardized terms, trade on a official trade, are controlled by overseeing businesses, and are assured by clearinghouses. Also, in get to insure that payment will take place, futures have a margin prerequisite that will have to be settled each day. Ultimately, by creating an offsetting trade, taking shipping and delivery of goods, or arranging for an trade of goods, futures contracts can be shut.
Investing in futures is controlled by the Securities & Trade Board of India (SEBI). SEBI exists to guard versus traders managing the market place in an illegal or unethical manner, and to avoid fraud in the futures market place.
Characteristics
Leveraged positions--only margin necessary
Investing in either way--limited/prolonged
Index trading
Hedging/Arbitrage chance
Benefits OF FUTURES Around Money Investing
In futures the investor can limited promote/purchase with no having the stock and carry the posture for a prolonged time, which is not attainable in the cash phase.
An investor can purchase and promote index parts alternatively of person securities when he has a general notion of the way in which the market place may shift in the next handful of months.
The investor is necessary to fork out a modest fraction of the value of the overall contract as margin. This signifies trading in stock index futures is a leveraged activity due to the fact the investor is ready to manage the overall value of the contract with a relatively modest amount of margin.
In the scenario of person shares, the positions, which remain exceptional on the expiration day, will have to be settled by actual physical shipping and delivery, which is not the scenario in futures.
Regulatory complexity is likely to be much less in the scenario of stock index futures in comparison to the other varieties of fairness derivatives, these types of as stock index possibilities, person stock possibilities etc.
Options
Options are contracts that give the potential buyers the correct (but not the obligation) to purchase or promote a specified quantity of particular underlying property at a specified selling price on or just before a specified day. On the other hand, the vendor is below obligation to complete the contract (purchase or promote). The underlying asset can be a share, index, desire fee, bond, rupee-dollar trade fee, sugar, crude oil, soya bean, cotton, espresso etc.
THERE ARE TWO Styles OF Options:
Contact possibilities and
Place possibilities
Characteristics
Limited hazard, unrestricted revenue-call possibilities
Higher returns, larger hazard-set possibilities
Positions in all market place ailments/views
Contact Options
The option that provides the consumer the correct to purchase is termed a call option.
Place Options
The option that provides the consumer the correct to promote is termed a set option
Big difference In between FUTURES AND Options
FUTURES
Options
Obligation
Both equally the consumer and the vendor are below obligation to satisfy the contract.
The consumer of the option has the correct and not the obligation whilst the vendor is below obligation to satisfy the contract.
Hazard
The consumer and vendor are topic to unrestricted hazard of losing.
The vendor is topic to unrestricted hazard of losing whilst the consumer has a restricted potential to shed.
Earnings
The consumer and vendor have unrestricted potential to acquire.
The vendor has restricted potential to acquire although the consumer has unrestricted potential to acquire.
Cost Conduct
It is unidimensional as its selling price relies upon on the selling price of the underlying only.
It is bi-dimensional as its selling price relies upon upon both the selling price and the volatility of the underlying.
TYPES OF DERIVATIVES
OTC and trade-traded
Broadly speaking there are two distinct groups of by-product contracts, which are distinguished by the way that they are traded in market place:
Around-the-counter (OTC) derivatives are contracts that are traded (and privately negotiated) instantly between two get-togethers, with no going by means of an trade or other intermediary. Items these types of as swaps, forward fee agreements, and unique possibilities are practically generally traded in this way. The OTC derivatives market place is large.
Trade-traded derivatives are those people derivatives merchandise that are traded through Derivatives exchanges. A derivatives trade functions as an intermediary to all transactions, and can take Initial margin from both sides of the trade to act as a warranty. The world's most significant derivatives exchanges (by variety of transactions) are the Korea Trade (which lists KOSPI Index Futures & Options), Eurex (which lists a huge assortment of European merchandise these types of as desire fee & index merchandise), Chicago Mercantile Trade and the Chicago Board of Trade. According to BIS, the combined turnover in the world's derivatives exchanges totalled USD 344 trillion during This autumn 2005.
Hazard Management
The principal types of hazard features affiliated with derivatives are:
Basis Hazard: This is the place (cash) selling price of the underlying asset getting hedged, much less the selling price of the by-product contract utilized to hedge the asset.
Credit history Hazard: Credit history hazard or default hazard evolves from the chance that one particular of the get-togethers to a by-product contract will not satisfy its money obligations below the by-product contract.
Industry Hazard: This is the potential money reduction thanks to adverse variations in the reasonable value of a by-product. Industry hazard encompasses authorized hazard, manage hazard, and accounting hazard.
Hazard Management By way of FUTURES
Essential goal of introduction of futures is to handle the selling price hazard.
Index futures are utilized to handle the systemic hazard, vested in the financial investment in securities.
Hedge terminology
Prolonged hedge- When you hedge by going prolonged in futures market place.
Quick hedge - When you hedge by going limited in futures market place.
Cross hedge - When a futures contract is not accessible on an asset, you hedge your posture in cash market place on this asset by going prolonged or limited on the futures for an additional asset whose costs are closely affiliated with that of your underlying.
Hedge Deal Month- Maturity thirty day period of the contract by means of which hedge is completed.
Hedge Ratio - Number of potential contracts necessary to hedge the posture.
Some particular makes use of of Index Futures
Portfolio Restructuring - An act of growing or reducing the fairness exposure of a portfolio, swiftly, with the assist of Index Futures.
Index Money - These are the cash which imitate/replicate index with an goal to deliver the return equivalent to the Index. This is termed Passive Investment Strategy.
Speculation in the Futures market place
Speculation is all about taking posture in the futures market place with no having the underlying. Speculators function in the market place with motive to make money. They take:
Bare positions - Position in any potential contract.
Distribute positions - Reverse positions in two potential contracts. This is a conservative speculative tactic.
Speculators provide liquidity to the procedure, provide insurance to the hedgers and aid the selling price discovery in the market place.
Arbitrageurs in Futures market place
Arbitrageurs aid the alignment of costs amid unique marketplaces by means of functioning in them at the same time.
BONDS
The time period bond is generally utilized to refer to any securities that are founded on credit card debt. When you obtain a bond, you are lending out your money to a business or governing administration. In return, they concur to give you interest on your money and finally fork out you again the amount you lent out.
The principal attraction of bonds is their relative security. If you are buying bonds from a steady governing administration, your financial investment is virtually assured, or hazard-free. The security and steadiness, on the other hand, come at a cost. Mainly because there is very little hazard, there is very little potential return. As a result, the fee of return on bonds is typically reduced than other securities.
MUTUAL Money
A mutual fund is a assortment of shares and bonds. When you purchase a mutual fund, you are pooling your money with a variety of other traders, which allows you (as component of a team) to fork out a experienced supervisor to select particular securities for you. Mutual cash are all established up with a particular tactic in head, and their distinct aim can be virtually nearly anything: significant shares, modest shares, bonds from governments, bonds from organizations, shares and bonds, shares in particular industries, shares in particular nations around the world, etc.
The key benefit of a mutual fund is that you can commit your money with no the time or the experience that are normally needed to opt for a sound investment. Theoretically, you need to get a better return by offering your money to a experienced than you would if you were to opt for investments yourself. In actuality, there are some areas about mutual cash that you need to be conscious of just before picking them, but we would not talk about them here.
A mutual fund brings alongside one another money from a lot of persons and invests it in shares, bonds, or other securities. (The combined holdings of shares, bonds, or other securities and property the fund owns are acknowledged as its portfolio.) Just about every investor owns shares, which characterize a component of these holdings.
Taxes
You however owe taxes on any distributions and dividends in the calendar year you acquire them (or reinvest them). You will also owe taxes on any cash gains you acquire when you promote your shares. Continue to keep your account statements in get to figure out your taxes at the close of the calendar year.
If you commit in a tax-exempt fund (these types of as a municipal bond fund), some or all of your dividends will be exempt from federal (and at times point out and local) revenue tax. You will, on the other hand, owe taxes on any cash gains.
BANKS AND MUTUAL Money
Financial institutions now promote mutual cash, some of which carry the bank's name. But mutual cash offered in banking institutions, together with money market place cash, are not bank deposits. A money market place fund is unique with a money market place deposit account. Their names are similar, but they are absolutely unique:
A money market place fund is a type of mutual fund. It is not assured, and will come with a prospectus.
A money market place deposit account is a bank deposit. It is assured, and will come with a Truth of the matter in Savings sort.
To reiterate, even if you purchase a fund by means of a bank and the fund carries the bank name, there is no warranty. You can shed your money.
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Today's most broadly utilized encryption techniques won't be sufficiently solid oppose quantum PCs.
It is a certainty that cryptographers fear: the entry of intense quantum PCs that can break the security of the Internet. Despite the fact that these gadgets are thought to be 10 years or all the more away, scientists are unyielding that arrangements must start now.
PC security experts are meeting in Germany this week to talk about quantum-safe substitutes for now's cryptographic frameworks — the conventions used to scramble and ensure private data as it crosses the web and other advanced systems. Albeit today's programmers can, and frequently do, take private data by speculating passwords, imitating approved clients or introducing malignant programming on PC systems, existing PCs can't split standard types of encryption used to send touchy information over the Internet.
In any case, on the day that the principal extensive quantum PC comes on the web, some far reaching and pivotal encryption strategies will be rendered outdated. Quantum PCs abuse laws that oversee subatomic particles, so they could without much of a stretch annihilation existing encryption techniques.
"I'm really stressed we're not going to be prepared in time, " says Michele Mosca, prime supporter of the Institute for Quantum Computing (IQC) at the University of Waterloo in Canada and CEO of evolutionQ, a digital security counseling organization.
It will take years for governments and industry to settle on quantum-safe trades for now's encryption strategies. Any proposed substitution — regardless of the possibility that it appears to be invulnerable at first — must withstand large numbers of genuine and hypothetical difficulties before it is viewed as sufficiently dependable to secure the exchange of licensed innovation, money related information and state insider facts.
"To believe a cryptosystem, you require many individuals to investigate it and attempt to devise assaults on it and check whether it has any blemishes, " says Stephen Jordan, a physicist at the US National Institute of Standards and Technology (NIST) in Gaithersburg, Maryland. "That takes quite a while."
The current week's workshop, held at the Schloss Dagstuhl–Leibniz Center for Informatics in Wadern, is one of a few this year uniting cryptographers, physicists and mathematicians to assess and create cryptographic apparatuses that are less helpless against quantum PCs. NIST facilitated its own workshop in April, and the IQC will collaborate with the European Telecommunications Standards Institute for another, toward the beginning of October in Seoul.
Insight offices have likewise paid heed. On 11 August, the US National Security Agency (NSA) uncovered its goal to move to quantum-safe conventions when it discharged security proposals to its sellers and customers. What's more, in an update posted on its site recently, the Dutch General Intelligence and Security Service singled out an approaching risk that adds considerably more earnestness to the requirement for quantum-safe encryption. In a situation it calls 'catch now, decode later', an evil aggressor could begin blocking and putting away monetary exchanges, individual messages and other delicate scrambled activity and after that unscramble everything once a quantum PC ends up plainly accessible. "I wouldn't be at all astounded if individuals are doing that, " says Jordan.
As far back as 1994, mathematician Peter Shor demonstrated that a quantum PC would have the capacity to rapidly thwart 'RSA encryption', one of the significant shields utilized today (P. W. Shor Preprint accessible at ; 1995). At the time, it was uncertain whether such a machine could ever be fabricated, says Mosca, on the grounds that scientists expected that it would need to work faultlessly. Be that as it may, a hypothetical disclosure in 1996 demonstrated that up as far as possible, a quantum PC with a few blemishes could be similarly as successful as an immaculate one.
The wellbeing of today's Internet movement depends to some degree on a kind of encryption called open key cryptography — which incorporates RSA — to set up mystery correspondence between clients. A sender uses a uninhibitedly accessible advanced key to bolt a message, which can be opened just with a mystery key held by the beneficiary. The security of RSA relies on upon the trouble of separating a substantial number into its prime components, which fill in as its mystery key. When all is said in done, the bigger the number, the harder this issue is to settle.
Specialists trust that it requires existing PCs a long investment to factorize enormous numbers, somewhat in light of the fact that nobody has yet found how to do it rapidly. In any case, quantum PCs could factorize an extensive number exponentially speedier than any regular PC, and this invalidates RSA's dependence on calculating being troublesome.
A few alternatives as of now exist for new open key cryptosystems. These supplant the considering issue with other troublesome science issues that are not anticipated that would respect quantum PCs. In spite of the fact that these frameworks are not superbly sheltered, scientists surmise that they are sufficiently secure to shield insider facts from quantum PCs for all reasonable purposes.
One such framework is cross section based cryptography, in which the general population key is a network like accumulation of focuses in a high-dimensional numerical space. One approach to send a mystery message is to conceal it some separation from a point in the cross section. Working out how far the scrambled message is to a cross section point is a troublesome issue for any PC, traditional or quantum. Be that as it may, the mystery key gives a basic approach to decide how shut the scrambled message is to a grid point.
A moment alternative, known as McEliece encryption, conceals a message by first speaking to it as the answer for a straightforward direct polynomial math issue. The general population key changes the straightforward issue into one that appears to be a great deal more troublesome. In any case, just somebody who knows how to fix this change — that is, who has the private key — can read the mystery message.
One disadvantage of these substitutions is that they require up to 1, 000 times more memory to store open keys than existing strategies, albeit some grid based frameworks have keys very little greater than those utilized by RSA. However, both techniques scramble and unscramble information quicker than today's frameworks, since they depend on straightforward duplication and expansion, though RSA utilizes more-complex math.
PQCRYPTO, an European consortium of quantum-cryptography scientists in the scholarly community and industry, discharged a preparatory give an account of 7 September prescribing cryptographic methods that are impervious to quantum PCs (see It supported the McEliece framework, which has opposed assaults since 1978, for open key cryptography. Tanja Lange, leader of the €3.9-million (US$4.3-million) extend, favors the most secure conceivable decisions for early adopters. "Sizes and speed will enhance amid the venture, " she says, "however anyone exchanging over now will get the best security."
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