Looking at where we are in the digital age, you could be forgiven for forgetting that there were times when we had no phones or internet. Our recent discoveries and innovations show that we are evolving faster than ever.
We are in a world of technology where Bitcoin comes before bank and Google comes before think! Yes, at present, the blockchain technology is getting a lot bigger than the database. And when it comes to digital marketing, Blockchain technology is evolving at a rapid pace.
The U.S. Securities and Exchange Commission (SEC) on Thursday stayed three orders denying bitcoin ETF applications that sought to list a total of nine such funds on regulated exchanges including NYSE Arca. However, in a potential reversal of fortune, the SEC on Thursday announced that the Commission, led by Chairman Jay Clayton, will review those orders, which had originally been drafted by staff members on behalf of agency leadership.
South Korea’s Jeju island is proposing a plan to become a blockchain haven wherein initial coin offerings (ICOs) would be allowed in the autonomous province despite the ongoing ban in the mainland.
According to a report by the JoongAng Daily on Monday, the governor of Jeju Island has formally proposed that the central government of South Korea designate the island as “a special zone for blockchain and cryptocurrency” in its interests to become a hub for the blockchain industry.
The market is down $25 billion from yesterday’s high of $219 billion, sliding to $193 at the time of writing.
Altcoins have been hit hard with Ethereum down almost 18% overnight according to coinmarketcap.com and hitting lows not seen since August 2017, now trading at $264. Ripple is also at a yearly low, down 14.33% to trade at $0.26, a value not seen since last December. XRP is down 92% from its all-time high of $3.37 making it one of the hardest hit altcoins in the top ten by market cap. Bitcoin Cash and EOS are also down 16% percent today, and Cardano has taken a 20% hit making it the biggest loser in the top 10 over the last 24 hours.
A new research paper published by an Economics Professor at Yale University recommends a portfolio with at least 6% in Bitcoin.
ADDING BITCOIN TO YOUR INVESTMENT PORTFOLIO
According to Professor Aleh Tsyvinski, Bitcoin should be an imperative part of your portfolio, regardless of whether you are enthusiastic about the cryptocurrency or not.
For an optimal construction of one’s portfolio, the economist holds that Bitcoin should account for at least 6 percent of it. Those who are less enthusiastic about the world’s most popular cryptocurrency should hold 4 percent of it.
In any case, though, regardless of your position on the matter, Bitcoin should comprise a minimum of 1 percent of your portfolio just for diversification purposes.
The study seems to fall in line with the observations of another scholar – Professor Dragan Boscovic from the Arizona State University. Speaking on the matter of cryptocurrencies, he noted:
Institutional investors are recognizing this new asset as a valued investment opportunity; this will encourage individual investors. It will also encourage consumers and small shops to start trading in cryptocurrency.
BETTER THAN TRADITIONAL STOCKS
The study titled, Risks and Returns of Cryptocurrencies, also outlines a very positive feature of cryptocurrencies when compared to traditional stocks and bonds.
Using the Sharpe’s ratio, Tsyvinski demonstrated that digital currencies show higher potential for return, despite their increased volatility. It’s noteworthy, however, that the professor only examined Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) for the purposes of his study.
The observation of Tsivinsky and his colleague fall in direct contradiction with another noted economist – Nobel Prize Winner Robert Shiller, who said earlier in May that Bitcoin is a failed experiment and “another example of faddish human behavior.”
Nevertheless, Bitcoin (BTC) $6495.62 +0.44% has been struggling as of late. While Ethereum $6495.62 +0.44% and Ripple $6495.62 +0.44% have fared even worse amid a prolonged bear market through 2018.
Ethereum has been a great player in cryptocurrency market following the global phenomenon of Bitcoins. Since then, investing in cryptocurrency seems a rational choice to take. As the market is growing, the mining activities have created a high demand for reliable hardware.
Major cryptocurrency exchange Binance has revealed a “rough, pre-alpha” demo version of DEX, its own decentralized exchange which could ultimately take over from its current platform.
‘A BIG STEP’
Introducing a video walkthrough of the exchange, CEO Changpeng Zhao said developers were “very aggressively” on getting a usable product to market.
The DEX demo is the first major event on the timeline of the Binance Chain project, the public Blockchain, which the exchange formally announced in May.
“As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets,” a blog post issued at the time reads.
Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community.
NO RELEASE DEADLINE
“I thought this would happen one to two months later or more, but the team delivered early,” he commented in the video. “It is very much still in early pre-stage development, so this is a casual early pre-alpha demo.”
Developers then created a mock-up token, issued it on the Blockchain, sold and created a buy order for it. A release timeframe was not specified.
In comments on Twitter, Zhao said he foresaw Binance and DEX “coexisting for some time,” but would “let the market decide” as to whether one usurps the other.
Social media reactions also hit a critical note after a user reminded Zhao of Binance’s reported 400 BTC listing tariff, which they argued did not fit in with decentralized principles.
This week Bitcoin Cash (BCH) proponents will be pleased to hear that more merchants can now accept bitcoin cash due to the crypto-payment processing firm Bitpay announcing a few strategic partnerships this week. The first announcement stems from the subscription television channel provider, Dish, who announced on August 9th that BCH is now accepted as a payment option after collaborating with Bitpay. Further Bitpay joined forces with the firm Flow.io and BCH payments can be used with global cross-border e-commerce platform on more than 60 different payment methods across 200 countries.
Television Network Dish Now Accepts Bitcoin Cash
Bitcoin cash payments can now be used to pay for television subscription services with the company Dish after the firm announced migrating away from its former payment processor to Bitpay. The partnership allows Dish customers to utilize their bitcoin cash to pay for monthly subscriptions, and pay-per-view movie events. The company says as a push transaction customers must send the exact amount of BCH needed to make a one-time payment. John Swieringa, Dish executive vice president, and the chief operating officer says the reason they adopted BCH is for the same reason they adopted BTC back in 2014.
Flow.io Platform Users Can Opt to Accept Bitcoin Cash
Another partnership with Bitpay that also adds more merchant acceptance to the Bitcoin Cash ecosystem is the company’s integration with the cross-border e-commerce platform Flow.io. The Flow business model is expanding its services to allow cryptocurrency payment processing through Bitpay. The collaborative effort enables Bitpay to process BCH transactions in real-time with more than 60 payment methods in over 200 countries on Flow’s application.
“As an addition to Flow’s platform, bitcoin and bitcoin cash are ideal for international e-commerce payments making it easy to buy and sell goods from countries where traditional forms of payment are unavailable,” said Sonny Singh, Chief Commercial Officer at Bitpay.
Of course, BCH enthusiasts are always pleased with more merchant acceptance and added BCH payment infrastructure support. Bitpay’s union with Dish gives BCH fans the ability to pay for cable television services with bitcoin cash. With the Flow.io partnership however it will still be up to the merchant if they want to accept cryptocurrency payments but nevertheless, the option is there for Flow.io customers.