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How Gamification and Loyalty Can Drive Mobile Payments

At the BRITE '13 conference, Michael Hagan, COO & Chief Rockstar of LevelUp, takes a deep dive into the future of mobile payments, and how game-like elements...

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The Top 25 Banks By Innovation Capability

The Top 25 Banks By Innovation Capability | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Life is tough as a startup! The Disruption House is nonetheless pleased to publish its first public paper a report on banking innovation. The report
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Great research for on the quality and level of innovation in the banking and FinTech domains

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Beyond Cryptocurrency: Blockchain for the Real World

Beyond Cryptocurrency: Blockchain for the Real World | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Beyond Cryptocurrency: Blockchain for the Real World
This past year has been defined by cryptocurrency. It is the latest trend; the hottest new technology. However, while most are familiar with powerhouses like BitCoin and Ethereum, many users have overlooked the full potential that blockchain tech

Via TechinBiz
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This past year has been defined by cryptocurrency. It is the latest trend; the hottest new technology. However, while most are familiar with powerhouses like BitCoin and Ethereum, many users have overlooked the full potential that blockchain technology has to offer.

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yourcrypt onerd's comment, June 14, 7:25 AM
Nice...
yourcrypt onerd's comment, June 14, 7:26 AM
Very good
Tatiana Noemi's comment, June 15, 6:01 PM
Listen to this podcast , a former president to a credit card company explains why bitcoin is the future of payment : https://newtheory.com/why-now-is-the-best-time-for-you-to-invest-in-cryptocurrencies/
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The Impact of Fintech on Investment Banking

The Impact of Fintech on Investment Banking | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
The Impact of Fintech on Investment Banking

Via TechinBiz, massimo facchinetti
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Leon Saunders Calvert, Global Head of M&A and Capital Raising at Thomson Reuters explores to what an extent Fintech is now changing the Investment Banking industry.(very short video)

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Samsung Profits Surge on High Demand for Bitcoin Mining Chips

Samsung Profits Surge on High Demand for Bitcoin Mining Chips | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
South Korean Samsung Electronics saw its operating profits surge in the first quarter of this year compared to the previous year. The company attributes the increase to its semiconductor division which manufactures bitcoin mining chips and says that it expects the trend to continue into the second quarter.
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Samsung Earnings Soar as Demand for Bitcoin Mining Chips Increase

Samsung, the giant South Korean company of the electronics industry, had a profit surge in the first quarter of 2018 because of crypocurrency mining. The company believes that it is selling conside…
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The company is a world leader in the production of semiconductor tech, which makes it one of the more popular choices for crypto mining. During the first quarter of 2018, the company earned 60.65 trillion won (about 56 billion USD). Compared to 2017, this was an increase of 58% in sales. The Seoul Newspaper media outlet has reported that semiconductors are accounted for about 73% of the total profits of the company in the quarter Demand for Semiconductors Increase Because of Sales to Create ASIC Miners  Semiconductors made by Samsung can be used to create ASIC Miners, which are a common type of mining machines for Bitcoin. The company perceived this trend and started to produce semiconductors that could be used for this purpose this year. This explains the surge in the profits.

Halong Mining, which is a very influential mining company, has already stated its flagship product, the powerful Dragonmint T1 Miner, uses Samsung’s chips.  The beginning of the year is generally considered a quarter in which the company sells fewer products because the seasonal demand for mobile parts is generally lower, but Samsung was able to make this record number due to the increasing sales of these products.

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AMD And Samsung Post Stellar First Quarter Results, Attribute Part Of Success to Cryptocurrency Mining

AMD And Samsung Post Stellar First Quarter Results, Attribute Part Of Success to Cryptocurrency Mining | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Advanced Micro Devices (AMD) CEO Lisa Su surprised in more ways than one with the release of the company’s Q1 earnings on April 25, 2018. Not only was it a feather in her cap to learn that AMD has surpassed Q1 estimates, Su also revealed that only a small percentage of income was derived from the broad cryptocur
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Advanced Micro Devices (AMD) CEO Lisa Su surprised in more ways than one with the release of the company’s Q1 earnings on April 25, 2018. Not only was it a feather in her cap to learn that AMD has surpassed Q1 estimates, Su also revealed that only a small percentage of income was derived from the broad cryptocurrency arena.  Su confirmed that data centers and the gaming community were seen as prime areas of commerce for the company going forward. “Gaming is a great market, there are lots and lots of gamers – from casual gamers to real enthusiast gamers – and we’re addressing that entire segment,” Su said.

She added that in the data center market, all players were looking for “more power in the cloud, so they’re really great market segments.” The company’s shares rose 11 percent immediately after the Q1 report was released, and a further one percent the following morning.  Samsung Takes Up the Slack as AMD Stays True:  While Su felt that the current emergence of blockchain was more of a distraction to AMD than anything else, Korean giant Samsung has reaped its due rewards for recently initiating a dedicated production of the ASIC chips used in cryptocurrency mining.  Discussing strategies for moving ahead, Su reiterated the company’s focus areas, saying that “Blockchain is a very important technology. The idea that you can do all these peer-to-peer transactions and a decentralized market, but it’s a bit of a distraction at this point. We want to focus on the core markets,” she said.  Samsung meanwhile has reported a 58 percent year-on-year growth in operating income for the first quarter of 2018. The jump in revenue is at least partly attributable to strong demand for its digital coin mining chips.

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Blockchain Is the Future of Big Data

Blockchain Is the Future of Big Data | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

Companies and investors alike already know that Big Data is big money. And if that’s the case, it stands to reason that the more data an institution can amass, the better. But that’s not necessarily true. “It’s not the amount of data that’s important. It’s what organizations do with the data that matters.


Via ArrowECS, massimo facchinetti
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Companies and investors alike already know that Big Data is big money. And if that’s the case, it stands to reason that the more data an institution can amass, the better. But that’s not necessarily true. “It’s not the amount of data that’s important. It’s what organizations do with the data that matters.

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John Lasschuit ®™'s curator insight, May 18, 12:59 PM

When the data captured by big business is more secure, more trusted, and more accessible, it will become easier for companies to make decisions based on their insights.

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What is Blockchain Technology and Why is It Such a Big Deal?

What is Blockchain Technology and Why is It Such a Big Deal? | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Blockchain. Bitcoin. Cryptocurrency. These are more than just buzzwords that have been floating around for the past few years. Cryptocurrency has been soaring in value, and a live tracker of its value shows considerable gains in the past few months. So what exactly is blockchain? How does it relate to Bitcoin or cryptocurrency? Should you, …

Via Enzo Calamo
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Off the Internet and Into the Mainstream - Cryptocurrency, particularly Bitcoin, has moved off the Internet and is being popularized. J.P. Morgan Chase is reportedly considering whether to offer Bitcoin as an investment and to allow its clients to trade in Bitcoin futures, as the Community Futures Trading Commission announced that Bitcoin futures are being launched. This speaks to the legitimacy of the cryptocurrency, as well as its popularity, as some of the largest financial markets and institutions in the world are actively pursuing ways to incorporate cryptocurrency into their models and trading.  The future of cryptocurrency is open in many ways. There are expected to be 21 million Bitcoins once all blocks have been fully mined, though that number could be different, depending on mining rates. Nearly three out of every four Bitcoins that will ever exist have been mined, making it an increasingly rare, but not unattainable commodity.  As the price for Bitcoins skyrockets, more and more companies are accepting it as they would any other form of currency. Businesses that accept Bitcoin are adapting to the new technology and marketing themselves as Bitcoin-friendly companies. There are a number of different ways you can begin to take Bitcoin as legal tender, and small businesses are not left out of the loop.

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Cryptocurrencies Are Selling Off

Cryptocurrencies Are Selling Off | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Bitcoin slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the the world’s largest cryptocurrency.
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Bitcoin slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the the world’s largest cryptocurrency. Regulators in China and South Korea are increasing oversight on cryptocurrency trading and mining, while the U.S. Securities and Exchange Commission late last year started cracking down on some digital token sales, known as ICOs. Coinmarketcap.com’s decision to exclude Korean pricing data for coins helped create the appearance of a large drop in prices, which some traders attributed as playing a part in the selloff.  "News on the regulatory front is dragging down cryptos," said Gabor Gurbacs, director of digital-asset strategy at VanEck Associates Corp. "South Korea and China tightening is weighing on bitcoin and in the ICO market, things started slowing down, with the SEC cracking down on illegal offerings."  Bitcoin slumped as much as 17 percent to $14,820, the most in more than two weeks. The rout in bitcoin is part of a broader selloff in the cryptocurrency realm, with all of the top 10 by market cap falling, and most tumbling by at least 10 percent, according to Coinmarketcap.com. Cardano fell 16 percent, while litecoin slumped as much as 16 percent to as low as $230. Bitcoin is little changed this year after surging about 1,400 percent in 2017.

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Blockchain, explained

Blockchain, explained | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
MIT Sloan assistant professor Christian Catalini on why blockchain and cryptocurrencies could upend every industry.

Via Kenneth Carnesi,JD
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What is a blockchain?
Blockchain is a term widely used to represent an entire new suite of technologies. There is substantial confusion around its definition because the technology is early-stage, and can be implemented in many ways depending on the objective.

“At a high level, blockchain technology allows a network of computers to agree at regular intervals on the true state of a distributed ledger,” says MIT Sloan Assistant Professor Christian Catalini, an expert in blockchain technologies and cryptocurrency. “Such ledgers can contain different types of shared data, such as transaction records, attributes of transactions, credentials, or other pieces of information. The ledger is often secured through a clever mix of cryptography and game theory, and does not require trusted nodes like traditional networks. This is what allows bitcoin to transfer value across the globe without resorting to traditional intermediaries such as banks.”

On a blockchain, transactions are recorded chronologically, forming an immutable chain, and can be more or less private or anonymous depending on how the technology is implemented. The ledger is distributed across many participants in the network — it doesn’t exist in one place. Instead, copies exist and are simultaneously updated with every fully participating node in the ecosystem. A block could represent transactions and data of many types — currency, digital rights, intellectual property, identity, or property titles, to name a few.

“The technology is particularly useful when you combine a distributed ledger together with a cryptotoken,” Catalini says. “Suddenly you can bootstrap an entire network that can achieve internet-level consensus about the state and authenticity of a block’s contents in a decentralized way. Every node that participates in the network can verify the true state of the ledger and transact on it at a very low cost. This is one step away from a distributed marketplace, and will enable new types of digital platforms.”

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Apple Patent Filing Hints at Blockchain Use

Apple Patent Filing Hints at Blockchain Use | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Tech giant Apple has recently submitted a new patent application that uses Blockchain within a prospective system for verifying timestamps.
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Apple has recently submitted a new patent application that uses Blockchain within a prospective system for creating and verifying timestamps.  Based on the public application to US Patent and Trademark Office on Thursday where Blockchain technology was used to certify timestamps as a program combined with Public Key Infrastructure (PKI) tools.  Apple's application describes three possible methods for establishing timestamps, with one of these scenarios centering on a Blockchain platform. There is a use case in question where data stored involves tying a piece of information to a particular transaction on a Blockchain, establishing the state of that data at a particular point in time.

The program would generate a block containing a timestamp, with every subsequent block being added as miners verify each transaction conducted on the chain. This system is part of what Apple is calling a "multi-check architecture," meaning that another system would confirm the timestamp after the block is generated but before it is added to the chain. Like other established institutions, Apple believes in the power of Blockchain technology and its benefits.  Apple has seen the benefits of how the transactions are verified and approved by consensus among participants in the network, making fraud more difficult. The technology operates on a distributed rather than centralized platform, with each participant having access to exactly the same ledger records, allowing participants to enter or leave at will and providing resilience against attacks.

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Blockchain 101: How This Emerging Technology Works

Blockchain 101: How This Emerging Technology Works | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Bev Robb attempts to simplify the emerging technology of blockchain for all of us under the brass tacks of Blockchain 101.

Via Kenneth Carnesi,JD
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Read to understand

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Thirteen Blockchain Companies Included in CBS Insights Fintech 250 Startup List

Thirteen Blockchain Companies Included in CBS Insights Fintech 250 Startup List | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
A total of 13 Blockchain startup companies were included in the latest CBS Insights Fintech 250 startup list of emerging fintech companies changing the industry.
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A total of 13 Blockchain startup companies were included in the latest CBS Insights Fintech 250 startup list as of early October 2017. The report compiles “emerging fintech startups that are changing the face of the fintech industry.” It also cites the booming growth of the financial technology (fintech) sector.

The major industries where the bulk of the companies on the list come from include the processing and payment infrastructure, capital markets and trading and wealth management. Also included in the top six are mobile banking, business lending and merchant services.  The Blockchain industry, meanwhile, is among the smaller industries in the fintech sector.

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When is Blockchain right for Business?

When is Blockchain right for Business? | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
When is Blockchain right for Business?
While blockchain enthusiasts project the technology will account for 10% of global GDP by 2025, skeptics and supporters alike lack the tools to assess the political, security and environmental implications of the technology and digital currencies. When is bloc

Via TechinBiz
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While blockchain enthusiasts project the technology will account for 10% of global GDP by 2025, skeptics and supporters alike lack the tools to assess the political, security and environmental implications of the technology and digital currencies. When is blockchain right for business?

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The 10 Largest Companies In the World Are Now Exploring Blockchain

The 10 Largest Companies In the World Are Now Exploring Blockchain | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
In a patent filed with China’s State Intellectual Property Office, ICBC described an idea for using blockchain technology to verify digital certificates using a blockchain, instead of a trusted cen…

Via Online Marketing
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1st Place - In a patent filed with China’s State Intellectual Property Office, ICBC described an idea for using blockchain technology to verify digital certificates using a blockchain, instead of a trusted central authority, according to a CoinDesk report. While nothing else has been publicly revealed about the bank’s mysterious blockchain research, the plans are reminiscent of other blockchain efforts that seek to place stock certificates on a blockchain instead of in the safes of Central Securities Depositories around the world.

2nd Place - Following closely behind ICBC, with what appears to be slightly more advanced public work, is the China Construction Bank Corporation (CCB), which counts $143 billion in sales and total assets of $2.61 trillion. Last September, CCB revealed it was using the IBM Blockchain platform to streamline the way banks and insurance companies jointly sell some of their products.

In 3rd place on the Global 2000 is JPMorgan, the largest company in the diversified financial category, with $118 billion in sales and assets valued at $2.7 trillion. In spite of company CEO Jamie Dimon’s vociferous railing against bitcoin itself, his company has emerged as one of the most visible, and committed enterprises to the underlying blockchain technology. After first contributing its own internally developed blockchain platform, Quorum, to the open-source community, JPMorgan has seen interest among users including pharmaceutical giant Pfizer (#44 on the list with $52 billion in sales) and information giant IHS Markit (#1,211 on the list with $3.6 billion in sales).

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Price Analysis, June 01

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Price Analysis, June 01 | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Latest technical analysis on top 9 cryptocurrencies from an expert trader.
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The market capitalization of the crypto world has increased by about $25 billion since May 29. The Italian political crisis and the probable escalation of a trade war have attracted investors back into cryptocurrencies.  Dan Morehead, founder of Pantera Capital Management believes that Bitcoin has made a bottom for the year. He proposes to buy now when the prices are still low, to benefit from the ensuing rally in the next few months. We have been voicing a similar opinion for the past few days but we believe that the purchases should be staggered to take advantage of the volatility. Bitcoin continues to be the undeniable leader. It sets the direction that is followed by most altcoins. Brad Garlinghouse, CEO of Ripple believes that once the crypto markets mature, they will start differentiating between the digital currencies and the correlation with Bitcoin will reduce. He, however, warned that 99 percent of the virtual currencies in circulation will vanish in about a decade. Only the ones that solve a real problem will remain.

There have been a few complains that we don’t mention the fundamentals in our analysis. In technical analysis, we believe that the charts discount all the fundamental news. Hence, we only read the patterns on the chart and try to forecast the probable direction. In the past few months, these patterns have kept us on the right side of the trade and have helped us avoid large losses. We try to avoid trading during major events, due to the uncertainty.

Let’s see, what direction are the charts pointing to today.  BTC/USD -  They believe that Bitcoin is trading in a large range of $6,075.04 to $12,172.43. The strategy to trade such a large range is to buy near the bottom and sell close to the top. So, we have been waiting to buy on a sharp dip below $7,000, as close to the bottom of the range as possible, so that our risk is less. If the $6,075.04 level breaks, the digital currency can fall to $5,450 levels.

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Singapore Trials ‘Bitcoin Banknotes’ In New Consumer Adoption Drive

Singapore Trials ‘Bitcoin Banknotes’ In New Consumer Adoption Drive | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Cryptocurrency hardware wallet manufacturer Tangem has begun the first rollout of its ‘Bitcoin banknotes’ to its pioneer market of Singapore.
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Cryptocurrency hardware wallet manufacturer Tangem has begun the first rollout of its ‘Bitcoin banknotes’ to its pioneer market of Singapore.  Tangem, which seeks to make cash-like transactions using cryptocurrency more familiar to entry-level consumers, plans to mass produce the notes in their “millions” by the end of 2018.  In Singapore, a jurisdiction famous for its encouraging regulatory stanceon both cryptocurrency and blockchain technology, the notes will be on sale at the Suntec City branch of design store chain Megafash  Coming in denominations of 0.01 and 0.05 BTC ($92 and $463 respectively), the ‘notes’ are in fact banknote-like hardware wallets using technology from Samsung, Tangem claiming their cost makes them cheap enough to use like actual cash.

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Demand for Bitcoin Mining Chips boosts Samsung Profits

Demand for Bitcoin Mining Chips boosts Samsung Profits | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Samsung Electronics Co. Ltd. recently announced its 1Q18 earnings results. The flagship company of the Samsung Group, Samsung Electronics has a division in 80 countries.

In just the first quarter of the year, the company earned 60.56 trillion won, with an operating profit of 15.64 trillion won, a 58% increase as compared to the 9.9 trillion won achieved during the same period last year.

What is interesting to note is that it is the semiconductor division that is largely responsible for this phenomenon. As said by Samsung, “the semiconductor division…accounted for about three-quarters (73%) of total operating profits, leading the company to a record high. Demand for the semiconductor division increased due to sales of system LSIs [ASICs] for flagship smartphones and demand for virtual currency mining chips.”

The manufacture of the ASIC chips used for mining was confirmed by Samsung in January. According to a Trendforce study published in November, Samsung Electronics is competing with a few other chipset manufacturers like Taiwan’s TSMC, which supplies mining chips to mining hardware makers such as Bitmain and Canaan, and holds a 55.9% market share by revenue in the semiconductor foundry business, followed by Global Foundries with 9.4% market share, UMC with 8.5%. Samsung held 7.7% market share.

Image via Shutterstock
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Samsung Electronics Co. Ltd. recently announced its 1Q18 earnings results. The flagship company of the Samsung Group, Samsung Electronics has a division in 80 countries.

In just the first quarter of the year, the company earned 60.56 trillion won, with an operating profit of 15.64 trillion won, a 58% increase as compared to the 9.9 trillion won achieved during the same period last year.  What is interesting to note is that it is the semiconductor division that is largely responsible for this phenomenon. As said by Samsung, “the semiconductor division…accounted for about three-quarters (73%) of total operating profits, leading the company to a record high. Demand for the semiconductor division increased due to sales of system LSIs [ASICs] for flagship smartphones and demand for virtual currency mining chips.”  The manufacture of the ASIC chips used for mining was confirmed by Samsung in January. According to a Trendforce study published in November, Samsung Electronics is competing with a few other chipset manufacturers like Taiwan’s TSMC, which supplies mining chips to mining hardware makers such as Bitmain and Canaan, and holds a 55.9% market share by revenue in the semiconductor foundry business, followed by Global Foundries with 9.4% market share, UMC with 8.5%. Samsung held 7.7% market share.

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Largest #Bank in the #Phlippines Showcases #BitcoinMining Equipment. #Bitcoin #CryptoMining

Largest #Bank in the #Phlippines Showcases #BitcoinMining Equipment. #Bitcoin #CryptoMining | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
It is not the first time Unionbank shows an interest in cryptocurrency or its underpinning technology. Earlier this year, the institution announced a blockchain payment system. This venture is launched together with Visa.

Via Lionel Gikonyo
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It is not the first time Unionbank shows an interest in cryptocurrency or its underpinning technology. Earlier this year, the institution announced a blockchain payment system. This venture is launched together with Visa. Although that feature does not involve cryptocurrencies, it shows its underpinning technology can effectively transform business models in the Philippines.  Additionally, the Philippines government introduced an “economic zone” for cryptocurrencies. In this zone, cryptocurrency companies are allowed to operate in a licensed environment. Surprisingly, this venture attracted a lot of attention from international firms. Especially companies from Japan, Malaysia, and Hong Kong are interested in this option. The economic zone accommodates all business models, including exchanges, mining, and initial coin offerings.  All of this is in stark contrast with a slight crackdown on Bitcoin users. The Philippine National Police has arrested Bitcoiners before. This was mainly due to allegations regarding running a Ponzi Scheme. Additionally, cloud mining is still somewhat frowned upon in this country. The Bitcoin situation in the Philippines is heading in an interesting direction right now. Unionbank’s recent “endorsement” is another surprising development in this regard.

 

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Lionel Gikonyo's curator insight, May 18, 7:11 AM

"Financial institutions all over the world are interested in Bitcoin. UnionBank recently demonstrated its cryptocurrency miners at a business conference. "

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New ‘Snobbish’ #Cryptojacking Malware Infected 500k Users in 3 Days, Report Says. #Crypto #fintech

New ‘Snobbish’ #Cryptojacking Malware Infected 500k Users in 3 Days, Report Says. #Crypto #fintech | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
WinstarNssmMiner, a new type of malware script used to mine Monero, has spread to half a million devices in 3 days, cyber researcher reports.

Via Lionel Gikonyo
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"A new piece of so-called cryptojacking malware used half a million computers to mine 133 Monero (XMR) tokens (about $25,000) in three days, Finance Magnates reports today, May 18.

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Lionel Gikonyo's curator insight, May 19, 5:22 AM

"A new piece of so-called cryptojacking malware used half a million computers to mine 133 Monero (XMR) tokens (about $25,000) in three days, Finance Magnates reports today, May 18." 

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Don Tapscott: 'Blockchain represents the second era of the internet.'

Don Tapscott: 'Blockchain represents the second era of the internet.' | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Forget bitcoin, the revolution behind it is going to change the world, it's called blockchain. The question is are we ready for it?

Via Oliver Durrer
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According to Don Tapscott - Forget bitcoin, the revolution behind it is going to change the world, it's called blockchain. The question is are we ready for it?

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Leading cryptocurrency exchange faces outages as bitcoin rivals surge

Leading cryptocurrency exchange faces outages as bitcoin rivals surge | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Litecoin, a leading bitcoin rival, has soared 150 percent in four days.
Richard Platt's insight:

This month's cryptocurrency boom isn't limited to bitcoin. Over the last 24 hours, two of bitcoin's biggest rivals—Litecoin and Ethereum's ether—have enjoyed huge price gains. Trading volume has been so intense that one of the leading cryptocurrency exchange services, Coinbase, has suffered downtime.  "Ethereum buys and sells are temporarily disabled," read a notice on the Coinbase status page around 2pm Eastern time. That issue was resolved around 45 minutes later, while trading in litecoins was disabled for about 90 minutes earlier in the day. The status page lists both ether and litecoin trading as having a "Major Outage."  Bitcoin's price has also been doing well over the last 24 hours—but those gains were largely regaining ground lost over the weekend. Bitcoin recently passed $17,000, roughly the same value the currency reached last Thursday.  Over that same four-day period, ether's value has risen 35 percent, from $450 to $620. Ether is the currency of Ethereum, a blockchain-based network that offers a Turing-complete virtual machine that allows people to run computer programs called smart contracts.  Litecoin has soared an astonishing 150 percent in four days, from $130 to $325. Litecoin is one of the Internet's first "altcoins." It has features similar to bitcoin but is able to confirm transactions more quickly. The rising price of litecoin and ether is part of a broader cryptocurrency boom. CoinMarketCap, a handy database of cryptocurrency prices, shows almost every cryptocurrency in the green over the last 24 hours, with many posting double-digit gains.

 
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Seven Lies Bitcoin Fans Tell Themselves (And Anyone Else Who Will Listen)

Seven Lies Bitcoin Fans Tell Themselves (And Anyone Else Who Will Listen) | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
The more people decide to take their profits, the lower the price will drop. Since Bitcoin is in a bubble, it’s only a matter of time until its market value resets to a number closer to its intrinsic value.
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Lie #1: Bitcoin is Like Something Else:  This fallacy is so prevalent, frankly, because Bitcoin really isn’t much like anything else. There are some similarities between Bitcoin and, say, the US dollar or gold or even tulips, but the differences far outweigh the similarities.

Lie #2: Bitcoin is Secure:  Bitcoin is a cryptocurrency and ‘crypto’ means secure, right? Not so fast. Bitcoin has proven appallingly easy to steal, and even easier to lose.

Lie #3: Bitcoin is Money:  Take a $20 bill and put it under your mattress. Wait ten years and retrieve it. What is it worth? $20, of course. Sure, inflation will have likely reduced its value somewhat, but $20 will always be $20. Such is the nature of money.

Not so with Bitcoin. It’s more of a commodity that acts as a speculative vehicle, while exhibiting few of the properties of money.

Lie #4: Bitcoin has Intrinsic Value Outside of its Minability

I analyzed the question of Bitcoin’s intrinsic value in a previous article, concluding that its only intrinsic value (that is, value outside of its market value) is due to the fact that people have to mine it.  Figures vary widely due to shifting hardware and electricity costs as well as economies of scale, but the cost of mining one Bitcoin is somewhere in the neighborhood of $800 to $1,500. Furthermore, all the Bitcoins now or in the future exist because someone mined them. So when you buy a Bitcoin from a miner, you are essentially paying them to mine it – and it’s only worth the trouble for them if you’ll pay them more than it cost them.Note that mining Bitcoin is very different from mining gold, say. Gold’s intrinsic value goes well beyond its minability, as it is desirable for many other reasons outside of its market value. Comparing Bitcoin mining to gold mining is, you guessed it, an example of Lie #1.

Lie #5: Bitcoin is Not in a Bubble

A Bitcoin’s intrinsic value is around $1,000 while its market value bounces around between $15,000 and $20,000 (or some other crazy number depending on when you’re reading this). The difference is pure speculation – one fool’s bet that a greater fool will be willing to buy that Bitcoin for more than the first fool paid for it.

Lie #6: You’ve Made Money on the Bitcoin You’re Holding

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Bitcoin blows past $16,000, alarm bells ring louder

Bitcoin blows past $16,000, alarm bells ring louder | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Dreyfuss
Richard Platt's insight:

The largest U.S. cryptocurrency exchange struggled to keep up with record traffic as the price surged, with an upcoming launch of the first bitcoin futures contract further fueling investor interest.  Proponents say bitcoin is a good medium of exchange and a way to store value, much like a precious metal. They also argue it is preferable to traditional currencies because it is not subject to central bank manipulation. The supply of bitcoin will eventually be capped at 21 million, and some 16.7 million have already been released.  But critics say that the price run-up is a bubble that has been driven mostly by speculation, leaving bitcoin vulnerable to a sharp reversal. JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon famously called bitcoin a fraud in September. “Bitcoin remains a major gamble as it is very much an asset that remains in uncharted waters, we’ve simply not experienced this before,” said Nigel Green, founder and chief executive of deVere Group.  “Also, an asset that goes almost vertically up should typically raise alarm bells for investors,” he added.  The world’s biggest cryptocurrency has surged seventeen-fold in value so far this year. The latest move brought its so-called market cap, its price multiplied by the number of bitcoins in circulation, to nearly $305 billion, according to Coinmarketcap, a trade website. By comparison, the market value of Wal-Mart Stores Inc is around $288 billion.

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A former Goldman Sachs VP who founded a crypto hedge fund says betting on bitcoin is like betting on the internet in the 90s

A former Goldman Sachs VP who founded a crypto hedge fund says betting on bitcoin is like betting on the internet in the 90s | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Matthew Goetz, a former Goldman Sachs vice president, founded BlockTower Capital, a crypto hedge fund, this year.
Richard Platt's insight:

The cryptocurrency market has exploded this year with over 1,000 digital currencies now on the market.    The price of bitcoin, the first and largest cryptocurrency, has captured the most attention, with Wall Street CEOs from JPMorgan's Jamie Dimon to Goldman Sachs' Lloyd Blankfeinweighing in on the coin this month alone. 

It's up over 450% this year at near $4,400 per coin.   But bitcoin's meteoric rise doesn't mean that it'll be the top-dog crypto forever. 

Matthew Goetz, a former Goldman Sachs vice president and cofounder of BlockTower Capital, a Connecticut-based crypto hedge fund, recently told Business Insider that bitcoin and other cryptocurrencies are technologies like any other, and as a result, are susceptible to being usurped by a digital currency with superior tech.   "Bitcoin is the most entrenched, it has very stable protocol, it doesn't change a lot, and it has a very strong developer base, but at the end of the day it is still software," Goetz said. "There is some chance that something an order of magnitude better than bitcoin, technologically, could come along."

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Hitachi and Mizuho Strike Deal for Blockchain Supply Chain 

Hitachi and Mizuho Strike Deal for Blockchain Supply Chain  | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Mizuho Financial Group is partnering with Japanese tech conglomerate Hitachi to develop a blockchain platform for supply chain management.
Richard Platt's insight:

Mizuho Financial Group is partnering with tech conglomerate Hitachi to develop a blockchain platform for supply chain management.  Announced Thursday, the two companies have reportedly agreed to test a system built on technology from the open-source Hyperledger blockchain consortium to determine whether they can use an immutable ledger to record orders, invoices and otherwise collect data about company operations.  The ultimate goal, according to the firms, is to develop a record of every transaction that can be accessible by anyone in the company, thereby streamlining the process needed to order an item.  Right now, Hitachi's process involves ordering an item, confirming the order, creating an invoice and approving the invoice. Due to technical limitations and reliability issues, however, this process does not always work as desired.

Hitachi intends to incorporate its Lumada Internet of Things platform into the test to aid its data collection efforts and continue to build commercial products.  Notably, this is not Mizuho's first time testing a blockchain platform for the use case, as the firm recently completed a trade finance trial with several organizations. Other trials have included a rewards program and a research lab in the U.S.

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