- JPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are “stupid,” but that didn’t stop the cryptocurrency from trading at records above $5,800 last week.
- Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in the next eight years.
- (The market cap is currently about $93.55 billion, according to industry outlet Coindesk.)
- Still, the virtual currency remains subject to wild price swings, and attempts by government regulators to crackdown on the cryptocurrency have unsettled investors.
- Just last month, the price of bitcoin fell around 13 percent following news that one of China’s largest bitcoin exchanges said it would be stopping operations.
It remains to be seen whether the cryptocurrency has more room to climb after crossing the $5,800 mark.
Continue reading “Tell us what you think: Where does bitcoin go from here?”
- Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to a study.
- Big Blue has been making considerable steps forward with research and development projects aimed at broadening the scope of distributed ledger technology to include industries other than the financial services.
- Last month it announced a partnership with Nestle, Unilever, Wal-Mart and other food giants to trace the movements of food and tackle contamination faster by using the technology.
- According to research firm Juniper Research, the corporation is better positioned than competitor Microsoft as far as its blockchain credentials are concerned.
- More than 40 percent of tech executives and leaders in the blockchain sector ranked IBM as top, with only 20 percent saying the same of Microsoft.
Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to research.
Continue reading “IBM far outranks Microsoft as blockchain industry leader, research says”
- Just a day after JPMorgan Chase chief Jamie Dimon said he wouldn’t talk about bitcoin, he issued new remarks about the cryptocurrency.
- Just a day after declaring on a third-quarter earnings call that he would refrain commenting on the cryptocurrency, the JPMorgan Chase CEO offered a critical take on those investing in bitcoin.
- Per CNBC, Dimon also reportedly said that he “could care less about what [price] bitcoin trades at.”
- The remarks are the latest from Dimon, whose now-infamous comment in September that bitcoin is a “fraud” sparked a wave of commentary about bitcoin itself as well as the wider cryptocurrency market.
- His comments also come on the day that bitcoin’s price rose above $5,800 to hit a new all-time high.
Just a day after JPMorgan Chase chief Jamie Dimon said he wouldn’t talk about bitcoin, he issued new remarks about the cryptocurrency.
Continue reading “At It Again: Dimon Breaks Vow, Says Bitcoin Buyers Will ‘Pay the Price’”
- So to anyone invested in, mining or building applications for distributed ledger money such as bitcoin or ethereum: read your Kindleberger.
- Distributed ledgers, which borrow private computers from around the world to update the same list of accounts, address one ancient challenge of finance: how to make sure a transaction between two people located far apart is credible to both.
- Bankers talk about “governance”, ways to ensure private banks and central bankers make sound decisions—so they create just enough money make commerce easier, but not so much that the system collapses through inflation or panics.
- Take bitcoin: if a supermajority of the computers running the bitcoin distributed ledger run an upgrade, the upgrade becomes the new code.
- In bitcoin, the people who own the computers verifying transactions—the “miners”—want code that increases fees for miners.
FINANCIERS with PhDs like to remind each other to “read your Kindleberger”. The rare academic who could speak fluently to bureaucrats and normal people, Charles Kindleberger designed the Marshall Plan and wrote vast economic histories worthy of Tolstoy.
Continue reading “Not so novelBitcoin is fiat money, too”
- MOGADISHU, Somalia — A huge explosion from a truck bomb killed at least 20 people in Mogadishu, the police said on Saturday, and shaken residents called it the most powerful blast they have heard in years.The explosion appeared to target a hotel on a busy road in the Hodan district…
- Photo – – – There was no immediate claim of responsibility for Saturday’s blast, though the Shabab militant group has recently stepped up attacks.
- While there was no immediate claim of responsibility for Saturday’s blast, the Shabab has often targeted high-profile areas of Mogadishu with deadly bombings.Gunshots could be heard at the site of Saturday’s attack, and ambulance sirens wailed across the capital, which has been under tight security with military-staffed checkpoints.
- David Concar, the British ambassador to Somalia, said in a Twitter post that the blast could be heard clearly from inside his country’s embassy.
- The blast occurred two days after the head of the United States Africa Command was in Mogadishu to meet with Somalia’s president, and after the country’s defense minister and army chief resigned for undisclosed reasons.
The explosion, which injured more than a dozen others, targeted a busy road and was described as the most powerful blast in years.
Continue reading “Truck Bomb Kills at Least 20 in Somalia’s Capital”
- We’ve got more record highs for Wall Street as earnings roll in and economic data keeps improving.
- Is this your sign to buy or take profits?
- And, Trump says the national debt is getting a boost from stocks at all-time highs.
- Stocks ending the week on a down note include Hostess as the Twinkie-maker announced its CEO would be leaving the company next March; PG&E on concerns downed power lines created the massive fires in Northern California; and Tenet Healthcare, with shares slumping as the Trump administration announced the immediate cut…
- Shares getting a lift include Alliance Data Systems as the CRM company’s net charge-offs dipped from a month ago; Nvidia as Needham raised its price target to $250, citing earnings potential from Nvidia’s data center products; and HP Inc., with shares jumping as its full-year profit forecast topped estimates and…
We’ve got more record highs for Wall Street as earnings roll in and economic data keeps improving. Plus, Bitcoin jumps again as Jamie Dimon has more bad things to say. Is this your sign to buy or take profits? And, Trump says the national debt is getting a boost from stocks at all-time highs. Does he
Continue reading “Bank of America, Wells Fargo report earnings [Video]”
- Two weeks before Stranger Things arrives for its second season, Netflix’s acclaimed sci-fi/horror series debuted the new and final trailer for Stranger Things 2.
- The latest preview opens with Eleven living alone in the woods and subsisting off Eggo’s, after last season’s cliffhanger that suggested she was killed.
- As hinted in previous Stranger Things 2 trailers, the tearing into the Upside Down in Season One has left aftershocks that continue to be felt a year later, especially by Will Byers, who spent the majority of the first season in that lifeless dimension.In the second season, Byers envisions a…
- That and other odd happenings in Hawkins, Indiana lead the Dungeons & Dragons-loving kids and police chief Jim Hopper to believe something is still amiss at the nearby Department of Energy laboratory.While the trailer doesn’t offer much concrete plot details, the kids are seen entering the Upside Down together but…
- New characters portrayed by Paul Reiser and Sean Astin are also briefly seen.Stranger Things 2 premieres on Netflix on October 27th.
Two weeks before ‘Stranger Things’ arrives for its second season, Netflix’s acclaimed sci-fi/horror series debuted its new and final trailer.
Continue reading “Watch Riveting Final ‘Stranger Things 2’ Trailer”