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Your Pre Market Brief for 07/23/2020

Pre Market Brief for Thursday July 23rd 2020

You can subscribe to the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily 4:00 AM Pre Market Brief in this sub.
Morning Research and Trading Prep Tool Kit
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Updated as of 3:30 AM EST
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Wednesday 07/22/2020 News and Markets Recap:
Thursday July 23rd 2020 Economic Calendar (All times are Eastern)
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Upcoming Earnings:
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Most Recent SEC Filings
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It is up to you to judge the accuracy and veracity of these headlines before trading.
submitted by Cicero1982 to pennystocks [link] [comments]

We have observed one of the biggest collapses of the US stock market in recent years. The technological index Nasdaq dropped by 4.43% over just one day. Stay in touch with the current events of the week covered in our analytical report.

We have observed one of the biggest collapses of the US stock market in recent years. The technological index Nasdaq dropped by 4.43% over just one day. Stay in touch with the current events of the week covered in our analytical report.
We present to you the report filed by the analysts of our private club for October 22–28.
Main market events for October 22–28, 2018
1) Bakkt will be launched on December 12 if the regulators grant the permission.
2) Internal sources of the CBOE exchange claim that approval of Bitcoin ETF is inevitable. According to the SEC, VanEck, SolidX and CBOE resolved all the issues and it is only a matter of time before the new asset class is approved.
3) The Department of Financial Services (DFS) of New York has permitted Coinbase to develop Custody. The Bank of Japan admits that the bank may lose a lot of influence due to emergence of cryptocurrencies. $500m worth of USDT have been destroyed (burned) by Tether.
4) The Central Election Commission of Russia supported the initiative of the Party of Growth to run elections in Russia on blockchain, which would prevent doctoring of the results.
5) In June 2019, the Financial Action Task Force on Money Laundering (FATF) will start publishing its standards for international regulation of cryptocurrencies.
6) The British audit and consulting company Ernst & Young (EY) conducted a study on the efficiency of 110 ICO projects: only 1 out of 10 tokens managed to bring profit to their owners.
7) Constantinople — the hard fork of Ethereum network — is delayed until the beginning of 2019. The developers made this decision after discovering several bugs when launching the update in the test network.
8) Visa will launch a digital identification system on the B2B Connect blockchain in early 2019. The system would tokenize private information that ensures secure international transactions.
9) The Swiss online bank Swissquote now enables purchasing ICO tokens. You can buy them through an online bank account. Acquired tokens will be stored in a special wallet.
10) HTC has presented the first iteration of the blockchain smartphone Exodus 1 in Berlin. The smartphone is expected to go on sale in 34 countries this December. The device will cost 0.15 BTC or 4.78 ETH.
11) Blockchain platform for distributing video content TaTaTu, which raised $585 million during the ICO, signed an agreement with Johnny Depp. The actor’s film company Infinitum Nihil would produce movies and digital content for TaTaTu.
12) Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov explained that absence of the concepts of “mining” and “bitcoin” in the draft law “On digital financial assets” hints to a “sad” future for cryptocurrencies.
13) The Japan Association of Virtual Currency Exchanges (JVCEA) received the right to self-regulation from the country’s main regulator, the Japan Financial Services Agency (FSA).
14) The Taiwan Financial Supervision Commission will simplify the procedure for launching ICOs in the country and fully legalize them.
15) Tether Limited burned 500 million USDT tokens. The company once again noted that any USDT owner could redeem their tokens with real US dollars that secure the cryptocurrency.
16) The branch of the China International Economic and Trade Arbitration Commission in Shenzhen decreed that the ownership of bitcoins in China should be considered legal.
17) The Ministry of Finance prohibited the British Royal Mint to issue the Royal Mint Gold (RMG) cryptocurrency, backed by gold.
18) Ripple published a financial report for the third quarter of 2018: sales of XRP tokens increased more than twofold and generated revenue of $163.33 million.
19) While the major stock indexes collapsed, Bitcoin continued to stand its ground. This refutes the widespread claims that the price of Bitcoin correlates with traditional finances. It’s worth noting that the current collapse of the US stock market is one of the biggest in recent years. The fall in the Nasdaq technology index, which dropped by 4.43% over the day, was especially disheartening. This is the biggest fall since August 2011.
20) The number of Google search requests for the word “Bitcoin” decreased by 93% compared to last December. This is quite natural, because back then the price of Bitcoin reached its peak.
2. Market analysis from club experts for October 22–28, 2018
The last week was hardly surprising for crypto traders and investors. Volatility, pumps/dumps, despair and enthusiasm — all the usual stuff.
Compared to the stock market though, the waves of the crypto market begin to look pale sometimes. The total capitalization remained in the $208–211 billion corridor for the entire week, despite the worries.
Trading volumes were also fairly stable: $9–11 billion. BTC dominated the market at 54% without deviations, although the Altcoins performed very good.
In the end of the week, the price for 1 BTC remained the same: $6480 on Monday and Sunday, though it fluctuated between $6380 and $6540 ($6478 at the time of the report) during the week.
However, the last week showed a strong growth of a number of coins, despite the price of BTC, and many coins skyrocketed from the levels below TOP100 CMC. Last week the stock market experienced a rather sharp fall, and according to reports, a number of stocks have incomparably higher volatility than many coins from TOP100.
The general sentiment makes it clear that cryptographic market is gaining increasingly more attention of institutional traders and very soon trading instruments will be available through a single terminal in any market.
In the meantime, the blockchain technology and cryptocurrency are gaining momentum in the world, and that’s great! Though some cypherpunks are not happy about this!
3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period of October 22–28, 2018

https://preview.redd.it/91fmpru2t5v11.jpg?width=681&format=pjpg&auto=webp&s=91c4bc7dca5190cf8bf6c326bdae5d1f32002df4
4. TOP-3 growing coins from the long-term portfolio for October 22–28, 2018 (including portfolio updates) The fastest growing portfolio coins: IOTeX + 50% (), Neblio NEBL + 40% (), Decred DCR + 15% (listing on Binance). The worst performing coin is Mysterium MYST -28% — correction of the growth during the last week.
Want to be the first to receive news, updates from analysts and trade signals? Join @gitsupport channel and start earning with us!
submitted by Golden_Island_Club to u/Golden_Island_Club [link] [comments]

CBOE withdraws Bitcoin ETF application as cryptocurrencies are mixed

Crypto Market Recap

Crypto Developments in Financial Services

Crypto Regulatory Environment

General Crypto News

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

There is a 30 day comment period for the current Bitlicense proposal. Unless there are substantial changes, New York will be a Bitcoin dead zone

The 30 day comment period starts next week. Bitlicense, as proposed will force most companies that store customer BTC deposits to block New York IP addresses. There is very little chance that Lawsky will make any further changes to it, so what will this mean for Bitcoin around the world?
EDIT, as a reminder:
This is how the Bitlicense will affect Bitcoin businesses, taken from here:
http://www.reddit.com/Bitcoin/comments/2aycxs/hi_this_is_ben_lawsky_at_nydfs_here_are_the/cizyqyz
(I've added modifications in light of changes in the new proposal and information that I found was missing in the original write-up)
Entities are considered dealing in virtual currencies if:
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
Added:
The (only?) good news: Merchants do not need a BitLicense to accept Bitcoin for a good or service. (200.3c2).
> This post was created for general guidance, and does not constitute legal advice. You should not act upon the information contained in this publication without obtaining specific advice from a professional. No representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this post.
EDIT 2, targetpro suggested expressing any concerns you may have about the proposed regs to the NY Dept. of Finan. Services:
submitted by aminok to Bitcoin [link] [comments]

Building a United Platform

No matter which coin you're backing (or how many), the regulations coming out of New York State have large, overreaching and severe consequences for all cryptocurrencies.
You can read the proposed BitLicense Regulations here.
AmericanBitcoin has put together a TL;DR of the proposed reglations
In response, you can read the in-progress GitHub Fork of those same regulations here.
If you'd like to see a quick breakdown of examples of what's wrong with the proposed regulations, I highly recommend you read this comment by MrMadden over in /Bitcoin, which is utterly fantastic.
Instead of standing 'against' these regulations, let's stand for:
The problems, right now:
These regulations are vague in some important areas and could have unintended consequences.
For example, here's a great breakdown from goldcakes (originally made here)
Entities are considered dealing in virtual currencies if:
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
The (only?) good news: Merchants do not need a BitLicense to accept Bitcoin for a good or service. (200.3c2).
This post was created for general guidance, and does not constitute legal advice. You should not act upon the information contained in this publication without obtaining specific advice from a professional. No representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this post.
submitted by GoodShibe to CryptosUnited [link] [comments]

The Future of Bitcoin

http://bitcoinpricelive.com/future-of-bitcoin/
Future of Bitcoin By: Jackson Mackeral
As I see it, the future price of Bitcoin has two possible futures. Pennies, or a stable, high price. Many factors play into which distinct future will take precedence in reality. I will discuss what I believe to be the key components in deciding this.
First, I must clarify something. The Bitcoin community is overreactive to relatively small changes in price. These kinds of changes are not the kinds I am speaking of; those are near impossible to predict. I’m talking about big changes, over the course of a longer period of time.
Consideration #1: Acceptance by media. Bitcoin has been in the news a fair amount recently. Often it is portrayed in a skewed, negative light. Just this month, the Consumer Financial Protection Bureau released a six page walkthrough warning against the inherent risks of virtual currencies. Much of what they said was technically right, but they still told a very one-sided story. There are exceptions, of course, but in general, Bitcoin is shown as a scary, insecure, sketchy, online currency often used to buy illicit drugs. The media has a large influence on the public opinion. Which leads me to my next point.
Consideration #2: Acceptance by the public. Bitcoin isn’t used for as much as it could. For example, Bitcoin has a daily transaction volume hovering around the $40 million range. For comparison, Visa’s estimated daily transaction volume hovers around $16 billion. Many who have heard of Bitcoin have shed away from it simply because of misunderstandings. These misunderstandings come in all shapes and sizes. If the public begins to accept Bitcoin, interest will grow rapidly, as well as willingness of businesses to use and accept Bitcoin. Which, again, leads me to my next point.
Consideration #3: Acceptance by Businesses. A quick look around SpendBitcoins.com (A website to help Bitcoiners find businesses that accept Bitcoin) reveals a painful truth for the Bitcoin economy. Businesses often dismiss Bitcoin as internet funny money. Although there is little reason in the terms of convenience and fees for them to deny Bitcoin as a form of payment, few businesses accept Bitcoin. This lack of acceptance by businesses could be a severe downfall of Bitcoin. After all, why use Bitcoin if you can’t spend it?
Consideration #4: Acceptance by Law. This consideration has often been ignored. But recently Bitcoiners have been forced to think about it with the proposed BitLicense in New York. A system like BitLicense has the very real potential to cripple the Bitcoin economy, perhaps irrevocably.
Consideration #5: Quantum computers. Quantum computers are a theoretical type of device that calculates a fundamentally different way than traditional computers, using states of sub-atomic particles. What does this entail for Bitcoin, you might ask? A private key linked to an address which has been spent from can be recovered by a quantum computer. This means that funds will be stolen left and right, if a quantum computer is ever developed.
Consideration #6: Security and ease of use. Currently any solution to storing and spending Bitcoin will either sacrifice security for ease of use, or vise versa.
Consideration #7: Obtaining Bitcoin. Currently, obtaining Bitcoin can be difficult, confusing, and sometimes insecure. Primarily, this is because the most common forms of payment (PayPal, credit card, etc) that would be used to pay for Bitcoin, are reversible by scammers. Scammers could send money, get Bitcoin, then reverse their payment. Since Bitcoin transactions are fundamentally irreversible, the original vendor ends up scammed.
Consideration #8: Understanding Bitcoin. There are many resources available for those who want a better understanding of how Bitcoin works. But they are scattered, and become needlessly confusing at some points. This has the possibility to keep many from using Bitcoin.
Consideration #9: The final block reward. Every block mined currently awards who mined it with 25 Bitcoin. This is called a block reward. A block is mined about every 10 minutes, regardless of the combined processing power of all the miners. Because of this, the difficulty in mining a block is variable, and re-targets to make sure each block mined takes about 10 minutes. The reward will eventually be halved, then later halved, so on and so forth. Eventually, when 21 million Bitcoin have been mined, there will be no more block rewards. That means there will never be more than 21 million Bitcoin. Some argue that this is far too few. But the bigger concern lies in the fact that miners will no longer have any motivation to confirm transactions, besides miner’s fees.
Consideration #10: Scalability. Bitcoin uses an ever growing “blockchain”, which contains every transaction that has ever taken place, to confirm transactions. This blockchain is already large, and has to potential to become a nightmare in memory. There is also the elephant in the room of the tps (transactions per second) limit. Currently, Bitcoin is limited to 7 tps. This is thousands of times less than Visa, for perspective. There are a few other scalability concerns, but these are the most prevalent, and realistic. “This lack of acceptance by businesses could be a severe downfall of Bitcoin. After all, why use Bitcoin if you can’t spend it?”
Addressing consideration #1: Acceptance by media. I believe this issue will be self-solving. Allow me to explain. There is a phrase that states “There is no such thing as bad publicity.” I believe that this holds a fair amount of truth when discussing Bitcoin. I believe that since Bitcoin has had increased publicity recently, more interest has been generated. As more and more people become educated and interested, media will begin to tell a more precise story about Bitcoin.
Addressing consideration #2: Acceptance by the public. A part of the solution to this consideration will happen through the solving of the first consideration. The media has a great influence on public opinion. Another solution to flawed public opinions on Bitcoin is to make Bitcoin easier to understand. This is elaborated upon in #8. The solving of the problem of public opinion is one that results in a positive feedback system. To explain this, a positive feedback system must be explained. A causes B, which in turn causes B. In this case, more people using Bitcoin cause more people to become intrigued and research Bitcoin, which in turn causes more people to use Bitcoin.
Addressing consideration #3: Acceptance by businesses. A part of the solution to consideration #3 is similar to that of consideration #2 in that it entails a positive feedback system. This one, however, deals with businesses. As more businesses begin to accept Bitcoin as a viable means of payment, more businesses will be prompted to do the same. Currently it is unrealistic to expect some businesses to use Bitcoin, as they would only convert it to their local fiat currency. But this will change as more and more businesses, from large corporations, to minuscule vendors, begin to accept Bitcoin.
Addressing consideration #4: Acceptance by Law. This consideration had the very real ability to irrevocably cripple the Bitcoin economy. Some would argue that the difficulty in regulating Bitcoin renders the BitLicense useless, even harmless. But that is not the point. Bitcoin is used by many law abiding citizens, who wouldn’t think getting a license would be worth it to continue in Bitcoin. Bitcoin is also used by many organizations who wouldn’t be able to continue in Bitcoin, legally, or illegally. This consideration has no simple answer, no snap solution. I’ve read the majority of the BitLicense, and skimmed the rest (I recommend you do the same, you can read the full proposed regulation here. The email to send comments regarding the regulation is [email protected] . I personally challenge all of you to email your concerns of the regulation. That’s what this comment period is for. The deadline for comments is October 11th, 2014. I’ve sent my concerns. It doesn’t have to be anything fancy. If you prefer hand written, the address is: DFS Office of General Counsel – Dana V. Syracuse, New York State Department of Financial Services, One State Street, New York, NY 10004. “As more and more people become educated and interested, media will begin to tell a more precise story about Bitcoin”
Addressing consideration #5: Quantum computers. The reality is that quantum computers will not likely be created for some time. Nonetheless, there is a simple solution. Quantum computers are only able to steal private keys from public keys. Public keys are only revealed when an address is spent from. Therefore, if quantum hacking unsettles you, only spend from addresses once. For example, you should pay from an address that you have slowly accumulated funds into, and send the rest into a fresh change address.
Addressing consideration #6: Security and ease of use. There is not yet a perfectly secure and simple solution to spending Bitcoin. Using Bitcoin more helps with both of these concerns, but currently there is no beginner’s solution to this trade off dilemma. But things have began to move in the right direction. For example TREZOR , is fairly simple and very secure for creating, and storing private keys, addresses, and signing transactions. The Piper Wallet, is a great way to create secure private key and address pairs offline. Still, these solutions are far from perfect. As more interest is cultivated in Bitcoin, more innovations such as these will arise from the masses.
Addressing consideration #7: Obtaining Bitcoin. Currently, obtaining Bitcoin can be a bit of a…tedious process. I would argue that the best way to buy Bitcoin is through Local Bitcoins cash deposit system. Using this system entails that a Buyer would schedule a deposit, and the Seller’s Bitcoin would be locked in Local Bitcoins’ escrow system. Next, the Buyer would deposit cash into the Seller’s bank account at a local branch. Later, the Bitcoin are released from escrow to the Buyer’s address. As you may see, this is still a fairly convoluted process. But at this moment, it’s the best we have. There is a strong possibility that any way of buy Bitcoin developed will resemble this due to the often reversible nature of fiat currency transactions. But perhaps as the uses for Bitcoin grow, buying Bitcoin with fiat will no longer be a significant need; perhaps one could be paid in Bitcoin.
Addressing consideration #8: Understanding Bitcoin. There are a number of great resources for learning about Bitcoin. But there aren’t many resources to facilitate learning for every point between complete beginner and expert, in my opinion. I’ve found many times when I’ve wanted to learn more that all I could find were over simplified explanations, and explanations over my head. But I have also found that the Bitcoin community is very willing to help others understand whatever may confuse them. At the moment, I would argue that asking this community specific questions is the best way to advance one’s knowledge of Bitcoin. Reddit.com/bitcoinbeginners is a great place to start.
Addressing consideration #9: The final block reward. The first part of this concern, that 21 million is far too few “parts” of a currency, can be easily resolved by realizing one Bitcoin can be divided to 8 decimal places. The second part of this concern is a bit more complicated. If the combined transaction fees are substantial enough to sustain the network, things will continue without conflict. Otherwise, the system will no longer function. Bitcoin will fail. But this is not likely, as everyone’s transaction fees are fairly substantial when combined.
Addressing consideration #10: Scalability. There are many ways of reducing the unwieldiness of the blockchain. Many theories of have been proposed. One of which is “compressing” the blockchain at certain points in history. Another theory involves having another “mini” blockchain, which only holds transactions for unspent Bitcoin. Satoshi Nakamoto, the author of the original proposal of Bitcoin, addressed this problem in the original white paper, and proposed possible solutions. The problem of tps is also an important one to think about. The first thing to realize is that it is not a concern at the moment. Bitcoin’s average transaction rate hovers around the 0.8 tps range. This is about a tenth of the imposed limit. The limit is artificially imposed, and can be removed. It was placed there to keep the blockchain from becoming too large before all were ready to handle it. Although lifting this limit has been compared to changing the engine of a plane while in the air, it is quite possible, even with some hiccups. Thanks for reading! I hope you have a better understanding of the factors I believe to be integral to Bitcoin’s future.”
submitted by BitcoinPriceLive to BitcoinBeginners [link] [comments]

Mining Panel - Inside Bitcoins New York 2015 What Is Bitcoin Mining? Bitcoin Mining Explained Video Eric Dixon on what's wrong w/ New York's DFS BitLicense News cloud of mining Bitcoins - YouTube A Bitcoin Mining Setup in Iceland - 2013  The New York ...

New York state is famously tough on cryptocurrency trading but has recently struck some big deals with Bitcoin mining companies. Now the powers that be say power for such activities is going to cost more. The New York State Department of financial services (DFS), the Bitlicense regulator, has published a Greenlist comprising 10 cryptocurrencies for custody and eight cryptocurrencies for listing ... A natural gas power plant has installed 7,000 mining rigs and is generating 5.5 Bitcoins per day; Greenidge Generation, which is a natural gas power plant near Dresden, New York has installed 7,000 mining rigs which generate 5.5 Bitcoins per day, worth approximately USD 50,000.Notably, the power plant’s Bitcoin mining operation is projected to be profitable even after the May block halving. A New York Power Plant Is Mining $50K Worth of Bitcoin a Day. Paddy Baker . March 5, 2020, 4:34 AM · 2 mins read. An upstate New York power plant has been using some of its own electricity to ... Upstate New York may soon be home to the world’s largest bitcoin mining center if the ambitious plans being undertaken by cryptocurrency mining firm Coinmint fall into place. Coinmint, through its subsidiary North Country Data Center Corp., has invested $50 million so far to convert a 1,300-acre Alcoa aluminum smelting plant in Massena, NY.

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Mining Panel - Inside Bitcoins New York 2015

On March 15th, 2018, the city of Plattsburgh in upstate New York issued an 18-month moratorium on cryptocurrency mining. Plattsburgh is part of a long-standi... What you should know about Bitcoin Mining. This video is unavailable. A New York power plant turns to Bitcoin mining in a successful bid to increase profitability. Bloomberg reported on Mar. 5 that a power plant in New York’s Finger Lakes region now mines about ... At a secure facility that was once a NATO base, computer servers run around the clock mining bitcoins. The company behind the operation relies on cheap energ... Mining Panel with Jihan Wu, Guy Corem, Marco Streng, Juan Garavaglia and Francois Poupard. Moderated by David A. Johnston. Participants talk about the curren...

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