Tag Archives: bitcoin

Max Keiser Calls for New All Time High Bitcoin Price with Morgan Stanley’s Asset Class Classification

Max Keiser Calls for New All Time High Bitcoin Price with Morgan Stanley’s Asset Class Classification

The goal for many cryptocurrency enthusiasts is to make cryptocurrency

into a mainstream asset, and a recent report from Morgan Stanley suggests that it is heading that way. The report, which includes predictions and clarification from Max Keiser, shows that Bitcoin is considered a new asset class by the company, adding to the belief that the digital asset still holds a chance of reaching the $28,000 price level. With such a reputable company, it should be no surprise that Wall Street is taking note, and that a new ATH is coming.

Many positive statements are coming out of the new report, which notes that Bitcoin, along with cryptocurrency as a whole, is the new asset class. The report includes information that has been gathered over a six-month period, noting that the institution’s “rapidly morphing thesis” has led them to have confidence in the new payment system. In fact, the report also indicates that Bitcoin is on the way to be a new institutional investment asset class.

To support how credible Bitcoin truly is, even Fidelity is behind this concept. Much of the reason that the report credits the lack of entry by institutional investors has to do with a lack of regulatory measures, larger financial institutions, and the lack of certainty with upcoming regulatory measures. The report is keen to note that there are $7.11 billion in cryptocurrency that hedge funds are presently managing. This statistic alone is evidence of the way that institutional adoption is progressing.

With all of these promising details about the evolution of the cryptocurrency industry, it should not be surprising that investors and enthusiasts are brimming with excitement. With the Morgan Stanley report, Max Keiser decided to chime in with his bullish opinion. The inventor of Virtual Securities, Market-Making and Virtual Currencies is maintaining his prediction that Bitcoin reaching $28,000 can happen.

There are two tweets that demonstrate his optimism. Regarding the Bitcoin price, he said, “Bitcoin black hole about to swallow huge amounts of institutional money. New ATH incoming. $28,000 still in play.” A later tweet added, “Bitcoin deemed an ‘asset class’ by Wall St. This means $20 trillion in global assets under management will need to start gaining some meaningful exposure. Morgan Creek Digital’s founder and partner, Anthony Pompliano, posted his opinion on Twitter about the report,


“Morgan Stanley just officially announced that they consider crypto a new institutional asset class. Every institution has to #GetOffZero and get in the game. The virus is spreading.”

Article Produced By
Bitcoin Exchange Guide News Team


Dogecoin Price Holds Strong Through the Crypto Market Crash

 Dogecoin Price Holds Strong Through the Crypto Market Crash

Ether-Doge Bridge, Amazon Petition, and Community Support hold DOGE afloat

The current cryptocurrency market sentiment looks anything but promising. Bitcoin’s price decline is dragging all other currencies and assets with it, which is only to be expected. Surprisingly, Dogecoin’s price is far more stable than any other offering amid this bearish pressure. The meme coin is slowly maturing in major ways, by the look of things.

Dogecoin Price Remains Relatively Stable

These past two weeks have been rather interesting for all cryptocurrencies. Despite some extended positive momentum, pretty much all recent gains have been wiped out once again. One exception in this regard is the Dogecoin price, as it has lost far less value compared to all other competitors on the market. A surprising show of stability, especially for a currency most people still consider to be a meme first and foremost.

With a modest decline of 4.51% over the past 24 hours, the Dogecoin price is successfully bucking the onslaught across the cryptocurrency markets. This is partially because DOGE has gained a lot of value over Bitcoin in the past few hours, even though the 9.3% increase isn’t sufficient to negate all USD losses either. Even so, it shows this crypto remains very popular despite the current market conditions. There are a few good reasons as to why Dogecoin is the center of attention right now. Developers are working on a bridge between Dogecoin and ERC20 tokens. That solution will attempt to exchange DOGE and ERC20 tokens in a decentralized manner without involving any intermediaries. The testing of this new “bridge” is going according to plan, as can be seen from the video below.

Second, there is the petition for Amazon to add Dogecoin. While the chances of the petition actually working are low – Amazon doesn’t care too much about cryptocurrencies without the lack of industry regulation – the PR stunt is bringing DOGE to the spotlight and providing its price with support. More specifically, it appears over 11,000 signatures have been collected so far, which is rather impressive. The result of reaching the full 15,000 signatures may not matter much in the end, but it does show that a lot of people care about the currency, which is rather heartwarming.

Last but not least, Dogecoin has a lot of active network addresses, especially when compared to the rest of the industry. In fact, Dogecoin ranked third in overall active network addresses over the past 24 hours, trailing both Bitcoin and Ethereum. The meme coin successfully beats Litecoin, Bitcoin Cash, NEO, and EOS, to name just a few.

All of these positive trends show Dogecoin is far from dead. While it is not the most “appealing” cryptocurrency for speculators, it has one of the bigger communities one can find in all of crypto. The enthusiasm surrounding DOGE cannot be underestimated, and the current Dogecoin price trend seems to confirm the project is in a relatively good place as of right now.Do you think DOGE’s price will remain steady? Is DOGE going to the moon after this bearish wave is over? Let us know in the comment section below.

Article Produced By
JP Buntinx


JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.




Bitcoin To Soar Past ’12-15k’

Bitcoin To Soar Past '$12-$15k' as 'cautious optimism' turns to 'rabid positivity'

BITCOIN returned to $8k for the first time since May today, with a groundswell of new-found positivity sending prices onwards and upwards. As negative headlines fall away, one expert expects bitcoin to push “toward $10,000” having soared past the “key barriers of resistance.”

Bitcoin positivity is on the up, as prices rise beyond $8,123 the cryptocurrency community has started looking towards the next major landmark, a return to $10,000.

Having added a over $400 so far today Julian Hall, founder of Ultra Education told Express.co.uk that alongside the weather, BTC is also tipping the mercury.

He said: “Not only was it the hottest day of the year as mercury hit 33.3c but the worlds favourite cryptocurrency, bitcoin has also hit boiling point.”

However, he adds: “Without being the one to rain on everyones party but we have been here before.

“What's the difference? Well in my estimation, the most important difference is that in the midst of the recent roller-coaster ride that has been cryptocurrency, all of the major global corporations have pointed towards the fact that a currency of this nature is here to stay.”

Matthew Newton, analyst at eToro, is similarly optimistic. He told Express.co.uk that the bulls are back and maintaining the upper hand, after a significant shift in the price pattern last week.

Mr Newton said: “The short squeeze on the market that occurred after the pattern completed, caused some concern that we were seeing a repeat of what happened in April, when bitcoin failed to break $10k.

“By soaring past those key barriers of resistance, it would seem history is not repeating itself and there’s real strength in the move. If bitcoin can close above $8,000 today, we could assume that we may have a good run toward $10,000.”

Samuel Leach, CEO and Founder of Yield Coin says that the recent price rise comes as more and more large blue chip firms get behind the crypto movement.

Mr Leach told Express.co.uk that businesses are keen to understand whether or not cryptos will be cost safe on currency conversions in terms of cross-border fees or saving time.

He said: “Ultimately they want to know how they can be forward thinking with the use of blockchain technology. Businesses are understanding this is a very hot topic and leading the industry that these businesses head up could be the step needed to get new customers and/or savings, particularly the efficiency they need to streamline their business.

“So the more these talks keep continuing we’ll see businesses popping up that are adopting either cryptocurrencies or blockchain technology. This adds a big positive swing in the industry.”

On where bitcoin could finish the year, Mr Leach says BTC is moving from “cautious optimism towards rabid positivity”.

He said: “Personally, I feel bitcoin could at $12-$15k by end of the year, if the news remains to be positive and regulatory acceptance and growth continues.

“On the flip side if we see more bans and strong regulatory action against cryptos we could see bitcoin around $5.5k-$6.5k at the end of the year.”


PUBLISHED: 14:41, Tue, Jul 24, 2018 | UPDATED: 14:41, Tue, Jul 24, 2018:


SEC Delays Decision: Asset Manager’s Bitcoin ETFs Until September

SEC Delays Decision on Asset Manager's Bitcoin ETFs Until September

The U.S. Securities and Exchange Commission (SEC) has delayed making a decision on whether to approve five bitcoin-related exchange-traded funds (ETFs) until September, public documents reveal on Tuesday.

In the latest edition of the Federal Register, the SEC explains that it is postponing any decision over the possible approval of ETF proposals filed by Direxion Investments in January – one of which will match bitcoin's price and four of which are based on the cryptocurrency's price movements.

The SEC states:

"The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, … designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change."

The SEC added that it only received two comments on the proposed ETFs.

While the crypto community largely seems excited at the prospect of a bitcoin ETF, Atlantis Asset Management chief investment strategist Michael Cohn said any approval would be "insane," CNBC reports today.

"Then they're putting a rubber stamp on it as an asset, and I don't think governments want to go there yet. It just seems as though it's not something I'd want to put my clients into in any way, shape or form. You can only be embarrassed," he added.

Notably, none of the ETF proposals being postponed are from VanEck and SolidX, which are currently under discussion by the wider crypto community. More than 100 comments have been submitted for that proposal, and a decision may occur as soon as next month.

From article by: Nikhilesh De, CoinDesk



Buy 20000 in Bitcoin wVisa amp Mastercard

Popular Crypto App Targets Mainstream,
Lets Users Buy $20,000 in Bitcoin
With Visa and Mastercard

Startup Abra has integrated new options for buying Bitcoin. Through its website or via the Abra app, users can now buy Bitcoin with a Visa or Mastercard credit card or debit card from anywhere in the world.

Prior to the addition of the new payment options, US Abra users could use American Express and worldwide Abra users could buy Bitcoin by linking to a bank account and making an ACH deposit or a wire transfer. Processing times are usually 1-3 business days for ACH transfers and 5-8 business days for wire transfers.

The Visa and Mastercard options dramatically increase the speed at which users can purchase cryptocurrency, and it increases the spending limit. Users can buy up to $20,000 worth of Bitcoin at a time, a ten-fold increase over the $2,000 limit for bank deposits.

The new purchasing options have the potential to reach a worldwide audience of hundreds of millions of credit card holders. Abra already has users from 70 countries. “With this launch, we can now offer a simple way for customers globally to use Abra to buy their first Bitcoin using any Visa or Mastercard, and then start investing in any of the other 24 cryptocurrencies we support today,” said Abra CEO Bill Barhydt in an interview with Bitcoin Magazine.

Abra also offers users without bank account services the option to buy altcoins using Bitcoin and Litecoin.

The company has partnered with Simplex, a fintech company, to power the new payment options. As an EU licensed financial institution, Simplex focuses on fraud prevention using an AI algorithm.

Abra is a non-custodial wallet and does not directly hold customers’ funds. Instead, it implements blockchain technology that lets users hold the keys to their own funds, facilitating trades for 25 cryptocurrencies, and allowing users to send and receive Bitcoin, Litecoin and over 50 fiat currencies.

Crypto enthusiasts can invest in the following coins:

  • Augur (REP)Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • Dash (DASH)
  • DigiByte (DGB)
  • Dogecoin (DOGE)
  • Ether (ETH)
  • Ethereum Classic (ETC)
  • Golem (GNT)
  • Litecoin (LTC)
  • Lisk (LSK)
  • Monero (XMR)
  • NEM (XEM)
  • NEO (NEO)
  • OmiseGO (OMG)
  • Ripple (XRP)
  • Status (SNT)
  • Stratis (STRAT)
  • Stellar (XLM)
  • Verge (XVG)
  • Vertcoin (VTC)
  • Zcash (ZEC)
  • 0x (ZRX)

For further information regarding this article and original content:

Disclaimer: BITCOIN July 13, 2018 Daily Hodl Staff
Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.


Bitcoin Looks More Like Gold Than a Currency

Bitcoin Looks More Like Gold Than a Currency

The cryptocurrency is volatile,
costly to store, hard to use
and deflationary.

By Noah Smith

July 11, 2018, 5:00 AM MDT

Noah Smith is a Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion.

Follow @Noahpinion on Twitter

In the seven months since Bitcoin’s price peaked, it has fallen by about two-thirds. But it’s still almost three times more valuable than it was a year ago.

But Bitcoin is only superficially similar to gold. There are powerful arguments for the Bitcoin Bust scenario, in which the cryptocurrency is abandoned. One such argument is made by University of Chicago Booth School of Business economist Eric Budish in a new working paper entitled “The Economic Limits of Bitcoin and the Blockchain.”

All money works via trust — you have to trust that the person paying you in a transaction won’t send you fake money, or somehow take the money back after you give them the goods. Banks, which certify fiat money transactions, have built up a large stock of trust over time, so each new transaction is very cheap to perform — to pay someone a dollar, you just have a widely trusted bank mark your account down by $1, and the other person’s up by $1, and you trust that there will be no funny business involved. But Bitcoin runs on a decentralized network, so there’s no trusted bank — in other words, trust has to be reestablished each time there’s a transaction. The innovation of the blockchain represents a way of doing this via a distributed network of competing players, who get a reward for certifying the transaction faithfully.

But Budish notes that reestablishing trust every time there’s a transaction can get very expensive. If you devote a huge amount of computing power to dominating the blockchain, you can create fake Bitcoin transactions, thus stealing things from people without paying them. Budish shows that in order to prevent this from happening, the payoff for the blockchain players has to be high relative to the value of the attack. In other words, the more there is to gain from an attack, the more each Bitcoin transaction costs.

The value of using a Bitcoin attack to steal things is related to the size of the largest Bitcoin transaction you can make, so this means that in order to keep Bitcoin usage costs low, transactions have to be kept small — which makes paying for things cumbersome and slow.

Even worse, you can attack Bitcoin in order to sabotage and destroy it — perhaps so that your own cryptocurrency or fiat currency can gain popularity in its stead. Budish conjectures that the value of this kind of sabotage could potentially be enormous — comparable, in fact, to the total value of Bitcoins in existence.

And if he’s right, it means that Bitcoin as a whole can never get very valuable. If it does, it either becomes way too expensive to maintain (because it consumes electricity), or it becomes vulnerable to sabotage by a rival. If Budish is right, it means that Bitcoin’s total value has an upper limit. And once people realize that, they’ll abandon the cryptocurrency, leading to the Bitcoin Bust scenario.

So far, Budish’s apocalyptic scenario hasn’t come to pass, even though Bitcoin’s market capitalization briefly surged above $300 billion in late 2017. So, the danger seems remote for now. But if Bitcoin is going to replace fiat money, its market value will have to reach into the tens of trillions of dollars — more than 100 times higher than anything it has attained so far. The weakness Budish has identified — the inherent cost of repeatedly reestablishing trust under constant thread of sabotage — may make Bitcoin economically unviable. If so, either another cryptocurrency will take its place, or fiat money may continue its reign as the world’s dominant monetary system.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.


To contact the author of this story:
Noah Smith at nsmith150@bloomberg.net

To contact the editor responsible for this story:
James Greiff at jgreiff@bloomberg.net

Photographer: studioEAST/Getty Images AsiaPac



Emergence of New Major Ecosystems: Ethereum amp Beyond

Emergence of New Major Ecosystems:
The Battle for Two Layer Protocols

Ethereum and Beyond

Ethereum  —  as the current incumbent among general-purpose permissionless blockchains  —  has to date offered the best resources, tooling, and incentives for developers to build on top of its protocol. These “layer-two” projects combine off-chain software with some number of smart contracts (which may include a native ERC20 token) to create markets in which users can trustlessly interact and exchange some digital resource. That resource might be the sMPC of private data, live streamed video, generic loan contracts, a CryptoKitty, or something else. These markets rely on the security guarantees and immutability of the underlying chain; so the success of a project is, to a degree, contingent on the effectiveness of the underlying chain.

For a developer seeking to build a blockchain project in 2016, Ethereum was the natural (or maybe the only) choice. If that same developer were to build a project in 2019, he or she would have significant optionality in choosing an underlying protocol.

One of the most exciting developments of 2019 will be the emergence of new “major ecosystems” and thus the beginning of the battle for layer two.

Major ecosystems are layer-one blockchain protocols that offer very compelling technical and architectural innovations such that they are likely to capture a significant portion of the technical mindshare within the space. As a number of these new ecosystems approach network launch, we can expect to see direct competition between protocols, each evangelizing its tech and incentivizing engineers to build on top of its stack.

How Will Ecosystems Compete?

There are any number of open questions around how this might play out. What factors are developers likely to prioritize in deciding which base layer to build on? Will developers who have already built layer-two projects on Ethereum migrate their tech to new protocols? The prediction is that they will.

Engineers will congregate on the chains that have the best performance (i.e. scalability, security guarantees, privacy), the most accessible and friendly developer environments, the best perceived long-term viability, and (perhaps) the most valuable cryptocurrencies.

Another variable is the degree to which decentralization or censorship resistance are important to a given use case. For example, a gaming application may make more sense on EOS than Ethereum if “platform-grade censorship resistance” is sufficient for its use. Conversely, a decentralized financial market may be better suited for a consensus protocol that allows any participant to validate and verify blocks.

Evidently, the major ecosystems will need to compete on tech as well as on incentives to adopt the tech. Certain new ecosystems incentivize adoption by offering large pools of organized capital mandated specifically to invest in the development of infrastructure, UI/UX and developer tooling on their platforms.

These capital pools will act as growth drivers in their respective ecosystems, much like ConsenSys was a growth driver for the Ethereum ecosystem.

Technical Hurdles

For Ethereum projects seeking to move to a new chain, the process of porting a Solidity smart contract is not a trivial task. Theoretically, with new base-layer protocols using WebAssembly virtual machines, smart contracts scripted in any language that can be compiled down to Wasm (e.g. Haskell, C, Rust) should run correctly. In reality, a developer will need to customize their smart contracts for each chain’s VM, considering the security guarantees, unique native functionality, and idiosyncrasies of each.

This means projects will need to expend technical resources on adapting their codebase, run new security audits on the code for each chain, potentially hire new engineers, etc.

Given these technical and cost barriers, expectations are to see a mixture of layer-two projects that make dedicated bets on the adoption of a single chain (e.g. EOS maximalists) as well as layer-two projects that run implementations across two or three of the top chains.

What About the Tokenholders?

If a tokenized Ethereum layer-two project decides to launch on top of a new protocol, what does this mean for the project’s existing tokenholders?

The answer to this is unclear today and may differ project to project. It also depends on whether the project is “abandoning” its Ethereum implementation or simply launching a concurrent implementation on top of another chain.

Here are a few approaches likely to be seen:

Multiple TDEs. A project may elect to run alternative token distribution events (either airdrops or token sales) separately for each base-layer chain it has an implementation on. The tokenholders of a layer-two project could therefore differ from chain-to-chain.

Airdrops to ERC20 Tokenholders. A project may elect to airdrop its tokens for each new base-layer chain directly to its ERC20 tokenholders (much like BTC holders receive all of the forks of BTC). This could concentrate economic value to, and incentivize the HODling of, the original ERC20s. The downside of this approach is that the project would not raise any additional capital to finance the costs of porting onto new chains.

Sidechain Bridges. Instead of creating additional sets of tokens for each new ecosystem, a layer-two project may elect to facilitate token transfers from Ethereum to other ecosystems via sidechain bridges. This would effectively turn an Ethereum layer-two project into a “meta protocol.” The process would be conceptually similar to the DOGE-ETH Bridge launched by the Truebit team earlier this year: A user could lock up their ERC20s in an Ethereum smart contract, provide proof of such a transaction on the alternative chain, and then either mint or otherwise receive new equivalent tokens on the alternative chain. For example, a 0x user on Ethereum can lock up their ZRX tokens in a smart contract and, by providing a proof, receive DFINITY ZRX tokens on the DFINITY chain. These bridges can also be bilateral, allowing tokenholders to move their balances across chains while still maintaining a fixed total supply of tokens irrespective of the number of cross-chain implementations.

The Bet.

To be clear, it is not necessarily perceived that the battle for layer two is that of an adversarial process or a zero-sum game between the major ecosystems. It’s impossible to imagine that there will only be a single winner in the development of permissionless blockchains.

Simply put, it’s a safe bet that the market for developer mindshare is about to get a lot more competitive  —  and that this competition will inspire a great deal of innovation, more efficient capital allocation, and even some consolidation across chains and companies (which we are beginning to see with the recent M&A in the space).

CREDIT: Tekin Salimi, a VC at Polychain Capital:


Before You Buy Bitcoin Read This

Many investors are asking:
Should I buy Bitcoins or other cryptocurrencies? And if not, why?

What Is Bitcoin?

Bitcoin arrived on the scene in 2009. The digital currency is created and held electronically. Its value stems partly from the fact that it's decentralized; no single institution or government controls the network. It was developed based on a proposal from a software developer called Satoshi Nakamoto, according to CoinDesk, which tracks cryptocurrency prices and reports on events in the crypto space. Low transaction costs are another feature along with instantaneous transfers.

Perhaps its biggest attraction is that its supply can't be increased or decreased at the whim of a controlling entity. Similar to gold and other precious metals, Bitcoins can be "mined," but it's done by using computing power in a distributed network. And like gold, Bitcoin supply is limited. And it's headed toward terminal creation.

Bitcoin rules state that only 21 million Bitcoins can ever be created, though the coins can be split into smaller parts. That could make Bitcoin, like gold, an attractive inflation hedge, backers say. There are 16.67 million Bitcoin in circulation now.

On the other hand, the potential creation of new digital currencies creates "the possibility of limitless supply of different cryptocurrencies," undermining the value of existing ones, UBS warned recently.

For further information: 




What Determines If Cryptocurrency Will Be Regulated

In mid-June, 2018, a top SEC official said that Bitcoin and Ethereum are not securities, adding that a key point in deciding whether a coin is a security is whether a cryptocurrency network is sufficiently decentralized.

Not being securities means transactions in Bitcoin and Ethereum aren't subject to SEC rules.

"(When) purchasers no longer have expectation of managerial stewardship from a third party, a coin is not a security," said William Hinman, the head of the SEC's division of corporate finance, at the Yahoo Finance All Markets Summit: Crypto.

However this also means that initial coin offerings, which have in the past been launched by centralized teams, could fall under SEC rules.

This is because initial investors could be buying coins in the belief they can profit when they go public and increase in value. In addition, at such an early stage they are not sufficiently decentralized.

For more, see: https://www.investors.com/news/sec-explains-cryptocurrency-security-asset-ico-regulation/


Crypto Rising: Bitcoin Rebounding From 2018 Lows

Bitcoin regained some losses Monday, breaking 2-month downtrend. Other digital currencies including Ethereum, Bitcoin Cash & Ripple were also up. 

The cryptocurrency's price jumped by 12% from Friday, its biggest intraday rise since April. 

The price rise is a boost for fans of the speculative asset class, which is based on blockchain technology. Cryptocurrencies around the world lost about half their market value from May 5 through last Friday. This, after Bitcoin hit an all-time top price of nearly $20,000 in December, 2017.

For more, see article by Michael Larkin, Investor's Business Daily: