Please share if you find this article interesting. What Happens When Traders Quit Stock Exchanges for Online Trading Hong Kong’s stock exchange has become the first to close down its physical trading floor after 31 years. Because of the changing nature of markets, Hong Kong may just be the first of many to follow this route. The rationale behind the closure is, of course, the rise of electronic and Internet trading. According to the BBC, Hong Kong's stock exchange was home to more than a thousand floor traders at its peak. Now, its floor is being considered for renovation and subsequently will be turned into a space for conventions and exhibitions. What trading floor? Stock exchanges are crucial to their national, and indeed the global, economy. They allow stock brokers and trade
Please share if you find this article interesting. Californian Professor Prefers Central Bank-Backed Digital Currencies Over Decentralized Cryptocurrencies Well-respected University of California Professor of Economics and Political Science Barry Eichengreen has claimed that he favors the use of central bank-issued virtual currencies over decentralized cryptocurrencies. He added that the latter will not play a major part in the future of the financial sector. In his interview with CNBC, Eichengreen said that the central bank-backed digital currencies will streamline existing financial services, while the decentralized virtual currencies will be utilized in illegal activities that can adversely affect their mainstream adoption. “I think there is a role for central bank-issued dig
Please share if you find this article interesting. The Birth of an Asset Class: Expert Blog We have passed a tipping point for the evolution of Blockchain technology as the token universe moves firmly into asset class territory. The market has consistently held value in excess of $100 bln since the summer, with daily volumes in excess of $4 bln The rhetoric on Bitcoin has become more measured with broader considered views and a shift in focus to the potential of the technology Every day a stream of the large global corporates announce Blockchain initiatives The sophistication level of financial products providing Blockchain asset exposure is increasing As a former senior investment banker and having spent almost two decades focused on Asian equity capital markets, I am used to se...
Please share if you find this article interesting. Securities and Exchange Commission Accuses Day Trader of Using Bitcoin to Hide Profits The US Securities and Exchange Commission (SEC) has filed a lawsuit against Philadelphia, Pennsylvania-based day trader Joseph Willner for allegedly using the digital currency Bitcoin to hide his profits. In the case filed on Oct. 30, 2017, the accused has unlawfully taken over more than 100 brokerage accounts and used the victim's’ funds to artificially increase stock prices then trade against them to gain high profits. In its press release, the SEC claimed that Willner has utilized the services of an unnamed Bitcoin exchange to convert the funds from US dollars to Bitcoin to hide his profits. The proceeds of the exchange were transferred to a
Please share if you find this article interesting. Price Analysis, Nov. 2: Bitcoin, Ethereum, Litecoin The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. * All the market data is provided by the HitBTC exchange. Market Analysis 02.11.2017 The market is currently under stress. On the one hand, the Bitcoin rally has been accomplished. On the other hand, basically all the leading altcoins keep going down. Bitcoin domination has gone beyond 62 percent; this indicator was observed last time in April this year. Several factors have caused a sharp increase in Bitcoin. First, it is due to t...
Please share if you find this article interesting. Hydro Mining, Explained What is hydro mining? It refers to a specific method of cryptocurrency mining that relies on hydroelectric power and water cooling systems to create an energy-efficient and highly-profitable mining operation. Simply put, cryptocurrency mining is the process of creating new digital coins and verifying these transactions at the same time. Individuals are constantly sending cryptocurrencies, like Bitcoin, to each other over a network called Blockchain. To keep track of all of these transactions, the Blockchain network collects all transactions made during a set period of time into a list, or a “block.” The miner’s job is to confirm these transactions and write them onto an immutable public ledger by solvin
Please share if you find this article interesting. British Telecom Secures Patent for a Cybersecurity Method to Protect Blockchain Great Britain’s biggest Internet and telecoms provider British Telecommunications PLC (BT) has secured a patent for its proposed cybersecurity system for Blockchain protection in late October. The system limits the users who can commit transactions to the system via user-specific profiles. Based on the patent, one use case involving the patent is the so-called “majority control attacks” or “51 percent attacks,” in which a hostile force with over 50 percent of the total computing power tries to control a Blockchain network. Part of the patent reads: "Despite the architecture of Blockchain systems, malicious attacks present a threat to the security and
Please share if you find this article interesting. Cryptocurrencies Should Not Be Taken For Granted, Central Bank of Swaziland Governor Central Bank of Swaziland (CBS) Governor Majozi Sithole has issued an optimistic statement about digital currencies. He further claimed that the central bank is advancing research on the technology. In his speech at an economic forum in late October 2017, Sithole claimed that it could be a prudent decision to dismiss the cryptocurrencies as they may be very important innovations. "It may not be wise to dismiss virtual currencies and as the CBS we are learning, and we want to accept and support innovation. If this is innovation, we do not want to stifle it. We want to learn more about it.” The CBS’ positive position on the digital currencies Fro
Please share if you find this article interesting. Ban All Crypto ‘Dealers’, India Committee Reportedly Tells Government India is reportedly considering Chinese-style exchange ban for Bitcoin and cryptocurrency according to local media reports. A brief article in today’s Economic Times names an unknown government “committee” as having advised lawmakers to “close” merchants and other “dealers” active in Bitcoin and altcoins. No background reasoning was given for the committee’s recommendation, which comes as Bitcoin flourishes in both price and volume in India and in permissive jurisdictions around the world. Hesham Reyman, CEO of Indian exchange Bitxoxo, told the publication the government should focus on “curbing” sales of cryptocurrency involving cash instead of seeking a ban.
Please share if you find this article interesting. Bitcoin Price Watch; Here’s What We’re Targeting Right Now In this morning’s bitcoin price watch analysis, we discussed some of the key trends we were seeing in the bitcoin price during the late session last night and into the early session this morning and opined that we would probably see some pretty substantial volatility during the session today. This was based on the idea that we had already seen a pretty substantial correction and that – as this correction matured – volume would likely be pretty heavy in both directions while price managed to find its footing. We are now heading into the close of play in Europe and we got exactly what we were expecting. Well, exactly what we were expecting in the sense that we couldn’t real