Bitcoin is a market for criminals and millennials, Dennis Gartman says

  • Commodities guru Dennis Gartman is not backing off his dramatically bearish stance on bitcoin.
  • “This is a market … for criminals, this is a market for millennials,” Gartman told CNBC’s “Fast Money” on Monday.
  • Even the cryptocurrency’s tendency to bounce back in a big way from steep declines is not swaying Gartman.
  • Monday marked yet another instance of Gartman trashing the cryptocurrency.
  • Gartman added that he appreciates cryptocurrency’s use of blockchain technology, but he believes there are better uses for blockchain.

Bitcoin bear Dennis Gartman still will not buy bitcoin, despite predictions that the cryptocurrency will rebound.
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A bitcoin spin-off briefly replaced rival digital coin ether as the second-largest cryptocurrency

#fintech Bitcoin cash briefly replaced ether as the second-largest cryptocurrency

  • A cryptocurrency that split away from bitcoin was temporarily the second-largest virtual currency by market value on Sunday.
  • The market capitalization of bitcoin cash surged to more than $41 billion on Sunday at 2:29 a.m. ET, according to data by industry website Coinmarketcap.
  • Bitcoin cash usurped rival digital coin ether — the digital token of the ethereum blockchain — becoming the second-largest digital currency by market cap for a number of hours.
  • Vitalik Buterin, co-founder of Ethereum, congratulated backers of the bitcoin offshoot on Twitter.
  • In response to a Twitter user that questioned the dominance of bitcoin, Buterin said: “A key reason why I am now so confident in crypto is precisely the fact that there are so many different teams trying different approaches.”

Bitcoin cash rallied after plans for a “hard fork” in the original bitcoin blockchain were called off.
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A German hardware giant tries to become an ultra-secure tech platform

  • The 130-year-old giant’s attempts to become more like a tech company reflect a world where value comes increasingly from software, services and data, not things.
  • Volkmar Denner, its CEO, says that he still sees Bosch’s future as a product company, but one that is heavily involved in software and “middleware” and that provides services on top.
  • It has invested in software; built a platform (on which it runs IoT services and apps and allows other firms to do the same), called Bosch IoT suite; and last year launched its own cloud and data centre.
  • But it is making connections with all sorts of other companies; from a map-building partnership with Apollo, a Chinese platform owned by Baidu, to working with Tesla on autonomous cars, to a deal with Amazon to use Alexa—its voice-controlled computer—to steer Bosch smart-home systems.
  • At the launch of the “Bosch IoT Cloud” Mr Denner noted that many companies and consumers say data-security concerns stop them using cloud technologies and connectivity products, offering its own cloud as an answer.

BOSCH is everywhere. It has 440 subsidiaries and employs 400,000 people in 60 countries. Its technology opens London’s Tower Bridge and closes packets of crisps and biscuits in factories from India to Mexico. Analysts call it a car-parts maker: it is the world’s largest, making everything from fuel-injection pumps to windscreen wipers.
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Property firm behind one of London’s most iconic sites says blockchain will ‘absolutely’ have a role

  • Blockchain technology will “absolutely” have a function in Landsec’s business, the CEO of the U.K.’s largest property firm told CNBC on Tuesday.
  • When asked if blockchain technology would be used in this part of the business, Chief Executive Robert Noel replied in the affirmative.
  • “Absolutely… If you look at the way what we provide, which is services to business, and those services are around contract, anything that speeds up archaic land law, and contract law, and leasing law, etcetera, will be welcomed,” Noel told CNBC in a TV interview.
  • Blockchain is the underlying technology behind the cryptocurrency bitcoin.
  • Blockchain is also called distributed ledger technology and refers to a method of decentralizing processes.

Blockchain or distributed ledger technology could play a role in the contract process for Landsec.
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Is Blockchain Really the Future of Democracy?

  • Blockchain has been touted as everything from the future of finance to the cure to poverty and the only way to secure land registries.
  • They paint a Utopian vision of people voting on smartphones on route to work and having their say in daily government decisions and on land registry matters.
  • She said Smerkis is helping to drag cryptocurrencies into the light and is determined to create a regulated environment for cryptocurrencies, adding that he wanted to speak with me about “how blockchain has the power to forge the democratic future that we have all dreamed of, but fallen short of…
  • The technology behind blockchain is completely clean, and governments want to use it because of that very transparency.
  • We can have a say on every major decision, through the blockchain, and force the government to actually do what the majority of people want.

Blockchain has been touted as everything from the future of finance to the cure to poverty and the only way to secure land registries. Now it is b…
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After periodic drops of 20 percent, bitcoin tends to come back even stronger

After periodic drops of 20%, bitcoin tends to come back even stronger  #AppleNews #TechNews

  • The last four times bitcoin has fallen more than 20 percent this year, it has gained an average 28 percent in the two weeks following, according to digital currency trading firm Genesis Global Trading.
  • Bitcoin performance in the weeks after a drop of more than 20% – – The digital currency plunged to a low of $5,507 this weekend amid uncertainty over bitcoin’s future.
  • Developers have disagreed over the best way to improve bitcoin’s transaction speeds and costs, resulting in splits in the digital currency.
  • Bitcoin also more than recovered from a $2,000 drop in September after a Chinese crackdown on digital currencies.
  • Digital currency enthusiasts attribute the gains to growing interest from institutional investors, especially as the planned launch of bitcoin futures later this year may allow other products such as a bitcoin exchange-traded fund to launch.

As dramatic as the downturn in bitcoin’s price was over the weekend, history indicates future returns will likely be greater.
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Bitcoin is a market for criminals and millennials, Dennis Gartman says

  • Commodities guru Dennis Gartman is not backing off his dramatically bearish stance on bitcoin.
  • “This is a market … for criminals, this is a market for millennials,” Gartman told CNBC’s “Fast Money” on Monday.
  • Even the cryptocurrency’s tendency to bounce back in a big way from steep declines is not swaying Gartman.
  • Monday marked yet another instance of Gartman trashing the cryptocurrency.
  • Gartman added that he appreciates cryptocurrency’s use of blockchain technology, but he believes there are better uses for blockchain.

Bitcoin bear Dennis Gartman still will not buy bitcoin, despite predictions that the cryptocurrency will rebound.
Continue reading “Bitcoin is a market for criminals and millennials, Dennis Gartman says”