‘The sky is the limit’ for blockchain technology in banking: Credit Suisse banker

'The #sky is the limit' for #blockchain #technology in #banking @CNBC

  • Wall Street may not be crazy about bitcoin, but it is intrigued by its use of blockchain technology.
  • With blockchain technology, he said, that could take only a matter of minutes.
  • Disney likened bitcoin to email.
  • Bitcoin is the first “killer” blockchain technology app, just like email was the first “killer” internet app.
  • Credit Suisse has run experiments using blockchain technology in other parts of the business, he said.

Wall Street may not be crazy about bitcoin, but it is intrigued by its use of blockchain technology.
Continue reading “‘The sky is the limit’ for blockchain technology in banking: Credit Suisse banker”

‘The sky is the limit’ for blockchain technology in banking: Credit Suisse banker

  • Wall Street may not be crazy about bitcoin, but it is intrigued by its use of blockchain technology.
  • With blockchain technology, he said, that could take only a matter of minutes.
  • Disney likened bitcoin to email.
  • Bitcoin is the first “killer” blockchain technology app, just like email was the first “killer” internet app.
  • Credit Suisse has run experiments using blockchain technology in other parts of the business, he said.

Wall Street may not be crazy about bitcoin, but it is intrigued by its use of blockchain technology.
Continue reading “‘The sky is the limit’ for blockchain technology in banking: Credit Suisse banker”

IRS says Bitcoin is taxable property, not a currency

  • On Tuesday, the IRS notice said payments worth at least $600 and made with bitcoins will be taxed the same way the agency treats property transactions.
  • “A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property,” the IRS said.
  • The IRS admits Bitcoin and other electronic tokens sure function like a real currency.
  • The IRS’ notice serves as one of the first attempts by the U.S. government to regulate the digital money.
  • The IRS notice says bitcoins must be valued at their “fair market value” at the time you acquire it.

The IRS says it can tax Bitcoin, describing it as a property — not a currency.
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Bitcoin surges above $3K to record, more than tripling this year while ‘bitcoin cash’ struggles

  • Bitcoin leaped more than 10 percent overnight into record territory, significantly strengthening against its offshoot “bitcoin cash” amid a hack on the new currency’s network.
  • Investors holding bitcoin at the time of the split should have received an equal amount of bitcoin cash, and were able to trade it Tuesday.
  • ViaBTC, the Chinese exchange that’s been the main proponent for bitcoin cash, tweeted at 4:03 a.m. that it temporarily suspended withdrawals due to a ” transaction malleability attack” on the bitcoin cash network.
  • Bitcoin cash plunged nearly 36 percent Friday, falling about 9 percent to overnight to a low of $212.
  • Bitcoin Magazine pointed out Saturday morning that ViaBTC mining activity — which creates more of a digital currency — for bitcoin cash dropped to a tenth of what it was in the last few days, while most of the mining activity was concentrated on the original bitcoin.

Bitcoin leaped overnight into record territory, significantly strengthening against its offshoot “bitcoin cash” amid a hack on the new currency’s network.
Continue reading “Bitcoin surges above $3K to record, more than tripling this year while ‘bitcoin cash’ struggles”

Bitcoin surges above $3K to record, more than tripling this year while ‘bitcoin cash’ struggles

  • Bitcoin leaped more than 10 percent overnight into record territory, significantly strengthening against its offshoot “bitcoin cash” amid a hack on the new currency’s network.
  • Investors holding bitcoin at the time of the split should have received an equal amount of bitcoin cash, and were able to trade it Tuesday.
  • ViaBTC, the Chinese exchange that’s been the main proponent for bitcoin cash, tweeted at 4:03 a.m. that it temporarily suspended withdrawals due to a ” transaction malleability attack” on the bitcoin cash network.
  • Bitcoin cash plunged nearly 36 percent Friday, falling about 9 percent to overnight to a low of $212.
  • Bitcoin Magazine pointed out Saturday morning that ViaBTC mining activity — which creates more of a digital currency — for bitcoin cash dropped to a tenth of what it was in the last few days, while most of the mining activity was concentrated on the original bitcoin.

Bitcoin leaped overnight into record territory, significantly strengthening against its offshoot “bitcoin cash” amid a hack on the new currency’s network.
Continue reading “Bitcoin surges above $3K to record, more than tripling this year while ‘bitcoin cash’ struggles”

Hackers have made just 3.7 bitcoin – or less than $10,000 – with the latest cyberattack

Hackers have made just 3.7 bitcoin – or less than $10,000 – with the latest cyberattack

  • Those behind the recent cyberattack affecting businesses around Europe have successful received a total of nearly 4 bitcoins, worth around $9621 at today’s price.
  • On Tuesday, reports emerged of a ransomware virus affecting businesses and governments throughout Eastern Europe.
  • The malware, which has been identified as a modified version of the “Petya” virus, has also affected business in Western Europe, including Maersk, Merck and WPP.
  • The virus locks users out of their computer and demands a ransom of $300 paid in Bitcoin.

Those behind the cyberattack affecting Europe have only succeeded in receiving a total of nearly 4 bitcoins, worth just $9621.
Continue reading “Hackers have made just 3.7 bitcoin – or less than $10,000 – with the latest cyberattack”

Miley Cyrus Dedicates Her ‘Voice’ Performance To Ariana Grande And Manchester

Miley Cyrus dedicates her

  • It was an emotional evening during “The Voice” Season 12 finale on Tuesday as stars like Miley Cyrus and Usher dedicated their performances to their friend Ariana Grande and all the victims of Monday’s Manchester Arena tragedy.
  • Cyrus, who will return as a “Voice” coach this fall alongside Jennifer Hudson, Blake Shelton and Adam Levine, sang her new hit “Malibu” after offering her condolences to Grande and “everyone that experienced that horrific attack.”  
    “Our hearts are with you,” she said. 
    VIDEO
    Former “Voice” coach Usher also performed a song for Manchester with winner Chris Blue.
  • — Ariana Grande (@ArianaGrande) May 23, 2017

    Below, more tweets from Grande’s fellow performers:
    wishing I could give my friend @ArianaGrande a great big hug right now… love love love you …. so sorry you had…https://t.co/GQXc9dmvsE— Miley Ray Cyrus (@MileyCyrus) May 23, 2017

    I’m heartbroken by the senseless attack that took place in Manchester.

  • #PrayForManchester— Usher Raymond IV (@Usher) May 23, 2017

    My thoughts, prayers and tears for all those affected by the Manchester tragedy tonight.

  • I’m so sorry to hear this— NICKI MINAJ (@NICKIMINAJ) May 23, 2017

    My thoughts and prayers are with all those affected by this horrific act in Manchester.

Usher and Season 12 winner Chris Blue also sang in honor of the victims of the tragic attack.
Continue reading “Miley Cyrus Dedicates Her ‘Voice’ Performance To Ariana Grande And Manchester”

US heading for recession after 2 years of unsustainable growth, economist says

US heading for recession after 2 years of unsustainable growth, economist says #Bitcoin

  • The U.S. is headed for a recession in the next two years as excessive fiscal stimulus from the President Donald Trump administration takes the economy into unsustainable territory, Adam Posen, president of the Peterson Institute for International Economics, told CNBC Tuesday.
  • Posen, who served at the Federal Reserve Bank of New York in the mid-90s, said that GDP (gross domestic product) growth targets of 3 percent or more are unobtainable given current productivity and employment rates in the U.S. Add to that intended tax cuts and financial deregulation under Trump and the country will find itself trapped in a boom-bust cycle, Posen said.
  • “The work force is only growing at 0.5 percent and productivity’s at 1 percent so it can’t reach these 3-4 percent growth targets.
  • If unemployment is, unfortunately, about as low as it’s going to go, you can’t pick this up,” he told CNBC Tuesday.

The U.S. is headed for a recession in the next two years as excessive fiscal stimulus takes the economy into unsustainable territory, says economist.
Continue reading “US heading for recession after 2 years of unsustainable growth, economist says”

Bitcoin is zooming higher

  • Inside Snapchat’s complex & costly relationship with Google Sponsored Yahoo Finance
  • Bitcoin has had a wild start to 2017 after gaining 120% in 2016.
  • Bitcoin has recently shrugged off an announcement made by China’s three largest bitcoin exchanges that they were going to begin charging a flat fee of 0.2% per transaction.
  • JPMorgan’s Glassman: U.S. Sees Potential of China Growth Sponsored Bloomberg Video
  • China’s hunger for bitcoin has been well documented with nearly 100% of bitcoin’s volume coming from the country.

Bitcoin is zooming higher on Tuesday, up 1.6% at $1,055 per coin as 7:03 a.m. ET. Tuesday’s bid…
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Bank execs sell nearly $100 million in stocks, analyst says follow their lead

Bank execs sell nearly $100 million in stocks, analyst says follow their lead  #Bitcoin

  • “Banks and investment banks are a class of stock where the managers are pretty good at valuing their own stock” Bobrinskoy said.
  • Charles Bobrinsky, vice chairman and head of investment group at Ariel Investments said he’s become bearish on bank stocks and is selling his shares for the first time in six years.
  • Bank execs sell nearly $100 million in stocks, analyst says follow their lead
  • According to a Wall Street Journal report Tuesday, company leaders at Morgan Stanley , JPMorgan , and Goldman Sachs sold nearly $100 million in stocks since Nov. 9 – the most in that time period in the last decade.
  • “It always makes you feel good when the executives are doing what you have been doing yourself,” Bobrinskoy said on CNBC’s ” Closing Bell ” Tuesday.

One strategist says he’s become bearish on bank stocks and is selling his shares for the first time in six years.
Continue reading “Bank execs sell nearly $100 million in stocks, analyst says follow their lead”