Day: August 16, 2019

Millennial Buys Ripple With Loan He Can’t Afford

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After taking out a loan he couldn’t afford to go all in on Ripple(XRP), the coin’s market value fell by 40%. His response? Buy more coins! | Source: Shutterstock. Image Edited by CCN. By CCN Markets: A Twitter user who goes by the name of @XRPBallzD33p told his followers last month that he was going all-in on his Ripple (XRP) investment. Or to use the parlance of our times, he went BALLZ deep. So deep, in fact, that he took out a loan he couldn’t afford to pay back just…

Millennial Buys Ripple With Loan He Can’t Afford

boss

After taking out a loan he couldn’t afford to go all in on Ripple(XRP), the coin’s market value fell by 40%. His response? Buy more coins! | Source: Shutterstock. Image Edited by CCN. By CCN Markets: A Twitter user who goes by the name of @XRPBallzD33p told his followers last month that he was going all-in on his Ripple (XRP) investment. Or to use the parlance of our times, he went BALLZ deep. So deep, in fact, that he took out a loan he couldn’t afford to pay back just…

IT Giant Oracle Sues Blockchain Startup for Taking Its Name

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Software development behemoth Oracle is suing blockchain startup CryptoOracle, alleging trademark infringement and cybersquatting. Cybersquatting and trademark infringement Technology market news outlet Computer Reseller News (CRN) reported on Aug. 15 that Oracle sued CryptoOracle alleging trademark infringement and cybersquatting in the Northern District of California.  Wikipedia states that cybersquatting “is registering, trafficking in, or using an Internet domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else.” The complaint filed by the tech giant reportedly claims that the startup’s name has been…

Chinese National Cryptocurrency Turns Out Not Being an Actual Crypto

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The People’s Bank of China (PBoC) has completed the development of a prototype for issuing a national cryptocurrency, as Cointelegraph reported on Aug. 11. As it turned out, it will be powered by a two-tier operating system, which, however, will not be fully decentralized. What do we actually know? The fact that China is close to issuing state digital money, which for the past three years has been on the tongues of the local authorities, was revealed at China Finance 40, the forum dedicated to policy research on Chinese economics and finance. Speaking at…

100% Crypto-Invested Retirement Portfolios Are Illegal

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The Australian Tax Office has issued warning letters to 18,000 Self Managed Super Funds (SMSFs) for concentrating too much investment in one asset class. Under Australian law it is illegal to use more than 90% of retirement funds on a single class, such as property or cryptocurrency, as reported by local news outlet, Micky, Aug. 16. Legally obliged to diversify your retirement portfolio An SMSF involves an individual taking charge of their own retirement fund investment decisions, rather than relying on a professional fund manager. It is a major growth…

Bitcoin Price Fear & Greed Index Back to ‘Extreme Fear’ Dec 2018 Lows

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Bitcoin investors are no longer as buoyant as they were three months ago, judging by the latest readings from the Crypto Fear and Greed Index (CFGI). On Aug. 14, the Bitcoin-only index — which plots investor sentiment on a scale of 1 to 100 (where 1 represents doom and foreboding and 100 indicates blithe optimism and greed) — hit its lowest levels since December 2018. Today: “fear,” yesterday: “extreme fear” Just under three months ago, in late June, Bitcoin (BTC) investors had seemingly hit a level of unbridled optimism, with…

Fundstrat’s Tom Lee: Bitcoin Is a Safe Haven for Investors

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Saying that Bitcoin can be viewed as a safe haven for investors, Thomas Lee added that Bitcoin has “done very well this year”. He still stays very optimistic about further BTC performance. Through recent weeks (and months), we were witnessing debate whether Bitcoin (BTC) is better than fiat, same as gold, worse than both or just a safe haven for investors. With the latter agrees crypto analyst Tom Lee. But let’s start from the beginning. Last week was pretty bearish for Bitcoin. Yesterday the world’s biggest cryptocurrency again fell below…

Nvidia Pulls Through Crypto Winter — Quarterly Earnings Rise 16%

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Major global chipmaker Nvidia, popular with cryptocurrency miners, has outstripped analysts’ expectations with its latest set of quarterly financials. The firm’s Second Quarter Fiscal 2020, published on Aug. 16, revealed $2.58 billion in revenue at earnings of $1.24 per share — as compared with $2.2 billion in the preceding quarter. Still 17% down from crypto-driven highs While the latest results reveal a solid 16% increase over the previous quarter, year-on-year revenue remains down by 17%. Nvidia had earned $3.12 billion during the same period for the fiscal year 2019 amid…

Graph Blockchain Signs LOI to Acquire Cyberanking Ltd. an Esports Company

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Graph Blockchain has signed a binding Letter of Intent to acquire Cyberanking for $1,500,000 CAD payable through the issuance of common shares in the capital of the Company at a deemed price of $0.05 per share.  advertisement “Implementing Graph Blockchain’s private blockchain solutions with Cyberanking LMS will address the need for data integrity and/or security of players’ personal data, rankings and scores. It is important to recognize the synergies and added value that Graph can bring to Cyberanking specifically through its ability to provide the tools to elevate its service offering…

Bitcoin Defends Price Support, But Bear Case Still Intact

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View Bitcoin’s repeated defense of the 100-day moving average signals seller exhaustion, but a break above $10,445 – the high of Thursday’s hammer candle – is needed to confirm a bull revival. A high-volume move above $10,445 would open the doors to re-test of $11,120. BTC may have a tough time scaling $10,445, as the daily chart indicators are biased bearish. The risk of a drop to $9,049 (July 17 low) remains as long as prices are held below that level. Bitcoin (BTC) has bounced from key price support, but…