June 1, 2020

‘Sell in May’ Wall Street Adage Doesn’t Apply to Bitcoin, Data Suggests

June 1, 2020 boss

The old Wall Street maxim “sell in May and go away” is detrimental to bitcoin investors, market data from Messari suggests. The largest cryptocurrency generated positive returns during eight of the past 10 Mays, outperforming its monthly average for that year during six of them. “Sell in May” refers to an old investment strategy that advises against holding investments during summer months, starting in May. While there may be truth to the adage for traditional markets, some bitcoin investors don’t give the idea much credence. “It’s just a meme to…

Zoom Stock’s Surge Is Bad News for the Economy — Here’s Why

June 1, 2020 boss

While the S&P 500 is still down about 6% year-to-date, Zoom’s shares have tripled in value. Zoom’s popularity has exploded due to shelter-in-place orders. Zoom keeps soaring despite investors being optimistic about the economy. Zoom Video Communications’ (NASDAQ:ZM) stock price was on an uptrend before the pandemic started. But the outbreak pushed shares higher as lockdowns forced Americans to work from home, and more of them used Zoom’s video conferencing app. Zoom’s shares have tripled in value since the start of the year. They continued to rise on Monday, soaring…

Price Analysis 6/1: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, ADA

June 1, 2020 boss

Tension between China and the U.S. is increasing and if the current trade deal is scrapped Bitcoin could be a major beneficiary. The tensions between the U.S. and China have escalated once again. This is bad news for the global economy which is currently witnessing one of the worst crises since the Great Recession. If either the U.S. or China does not keep up their part of the trade deal, it could only make matters worse. Scrapping of the Phase I trade deal could ultimately result in a huge sell-off…

Olivia Jade’s ‘White Privilege’ Rant Is Ironic – But That Doesn’t Make It Wrong

June 1, 2020 boss

It’s not surprising that Olivia Jade incurred substantial backlash when she condemned white privilege. As the would-be beneficiary of a college admissions scam, she makes an awkward spokesperson. Should she be forced to stay silent about injustice? The brutal footage of the murder of George Floyd has forced many white people to grapple with the privilege that their skin color provides. But when influencer Olivia Jade took to social media to do the same, it backfired spectacularly. This is because her celebrity parents, Lori Loughlin and Mossimo Gianulli, took advantage…

Satoshi Nakamoto Had Outside Cryptography Help, Says Early Bitcoin Dev

June 1, 2020 boss

According to an early Bitcoin (BTC) developer, Satoshi Nakamoto sought help from outside cryptographers prior to launching Bitcoin. Laszlo Hanyecz, who worked closely with Satsohi in 2010, told Cointelegraph that he was befuddled by Satoshi’s choice of the elliptic curve secp256k1. The use of this curve, at the time, was unusual. National Institute of Standards and Technology (NIST) curves were much more common. Many Bitcoin enthusiasts over the years have been speculating as to whether this is luck or genius, as the curve chosen by Satoshi is more efficient and…

Market Wrap: As Bitcoin Steadies, Oil’s Turmoil Continues

June 1, 2020 boss

Both bitcoin and oil were relatively calm Monday, but that when it comes to volatility over the past couple of months, it’s crude, the backbone of global industrialization, that’s seeing wilder swings as of late. Bitcoin (BTC) was changing hands around $9,575 as of 20:00 UTC (4 p.m. EDT), gaining less than a percent over the previous 24 hours. Despite a small rally of around $250 on Sunday, the world’s largest cryptocurrency by market capitalization still spent much of the weekend in the mid-$9,000s. “We are still waiting on a…

Mining Hardware Maker Canaan Looks to Issue $12.4M in Stock to Employees

June 1, 2020 boss

Cryptocurrency mining application specific integrated circuit (ASIC) producer Canaan filed with the U.S. Securities and Exchange Commission (SEC) to issue around $12.4 million worth of shares to its employees. According to the S-8 form, filed with the SEC on May 27, Canaan is looking to issue nearly $12.4 million of class A ordinary shares with a maximum offering price of $0.24 per share. As Cointelegraph reported in late November 2019, Canaan raised $90 million by selling 10,000,000 shares for $9 each in its initial public offering (IPO). According to Google…

Ledger CTO Explains Why Smartphones Won’t Ever Be Fully Safe for Using Crypto

June 1, 2020 boss

Cointelegraph interviewed the CTO of Ledger, Charles Guillemet, to learn more about the best practices in securing cryptocurrencies for average users. Ledger is a major producer of hardware wallets, which store cryptocurrency seeds on a dedicated device. As Guillemet explained, hardware wallets protect against possible malware on the user’s computer or mobile device. Both storage and transaction signing are performed on the wallet, which makes sure that the seed is never seen by the device it’s connected to. Ledger uses a chip based on Secure Element technology, which he says…