Date de sortie bitcoin gold

May 2, 2021 / Rating: 4.5 / Views: 758

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From the Editor’s Desk Dear Reader, What’s happening in this part of the world, where Forkast sits in Asia? In its latest effort to push mainstream adoption for the e-RMB, China is handing out 50,000 digital “red packets.” Why is this significant? The red packet in China (and across Asia) is entrenched in tradition, culture, and how a nation views money. The red packet is symbolic, a congratulatory expression of joy and economic support given during the holidays (bosses to underlings, tenants to doormen, grateful customers to attentive staff, etc.) and special occasions, like weddings and birthdays. Popular among the wisest and most senior among us, it serves as a nice gift to little children. It is a nod to societal generosity, the color red to ward off evil spirits, and hopes and wishes for prosperity and wealth. elections in November and the disintegrating global supply chain and you have an interesting financial fissure during a critical political time. So when the government is doling out 50,000 red packets of their new digital RMB, you know China is getting ready to launch its vision for their Digital Currency/Electronic Payment (DCEP) system, as mainstream adoption is critical to its success. Red packets are a fast route into the hearts and minds of people across China. Until the next time, Angie Lau, Founder and Editor-in-Chief By the numbers: Square — 5,000% increase in Google search volume. Twitter CEO Jack Dorsey’s financial services company Square has purchased US million worth of bitcoins. The payments platform says that its recent acquisition of 4,709 bitcoins represents about 1% of its total assets. It is questionable whether Square bought bitcoin because of Jack Dorsey’s desire to push the cryptocurrency, according to the company’s statement, as a tool of “economic empowerment.” It is more likely that Square bought bitcoin because it’s the first layer of an underlying asset for a future token or digital asset of sorts for the company. Let’s first unpack the idea that bitcoin is a way to bank the unbanked or empower the economically disadvantaged. Research done in 2019 by former Coinbase engineer Preethi Kasireddy shows that 2% of the BTC addresses out there control 80% of the wealth. Even studies that don’t show such a concentration of bitcoin ownership show holding patterns that reflect that bitcoin is a commodity dominated by whales. Having access to those kinds of assets (and wanting to put it in cryptocurrency) would put you well above the 95th quartile of income, and more in the range of top 1% to 0.5%. Over 60% of wallets contain between 100 and 1,000 BTC, per crypto-economist Gabor Gurbacs. With bitcoin, it’s more about multi-millionaires fighting multi-millionaires. Financial inclusion means the mere millionaires would have more exposure. De Fi is a good case study for this: its userbase is dominated by whales moving assets with values in the six-figures to liquidy pools to get double-digit returns. Once the non-whales come in for a project in investments denominated with three or four zeros, a new generation of bagholders is quickly created with people having a large percentage of their net worth being wiped out. regulators being much more open to tokens — if done properly — a tokenized solution to expedite the payment process, or fund further research into it, is not out of the question. a stablecoin) it would require an underlying asset, like a big stash of BTC to help build liquidity. So Square likely won’t be empowering the next generation of financial inclusion, because that’s not what bitcoin is being for in real life now. Likely building out some sort of blockchain-based solution to find efficiencies in cross-border payments. By the numbers: Google Cloud — 4,150% increase in Google search volume. While decentralized storage service Filecoin’s mainnet closes in, major cloud services are also turning their heads towards blockchain technology. Google Cloud was the latest to do so, by joining Block.one’s EOS network. Enterprise-level firms are taking a serious look at blockchain technology for their underlying software stack. A big part of the reason is that blockchain-powered cloud storage is becoming competitive with established cloud providers. It could be that cloud providers begin to offer hybrid solutions, to capture the need for firms to diversify where their data is held. This move, if ratified by EOS, would lend a lot of support to the platform as well. EOS, since its launch, has struggled with reputational issues since its inception: a combination of centralization of governance with China-based stakeholders and initial torrent of grandiose claims during its initial ICO created a cloud of skepticism around the project. And what’s the best way to counter this skepticism? If anything, this might open up the spirit of competition between different blockchains. With Google Cloud’s vote of confidence in EOS, how might, say, Microsoft react? While Google and Microsoft have both supported blockchain with their cloud services for quite some time, they have also taken a lot of effort to support a level of agnosticism and neutrality. One could speculate that this might represent a turn in a different direction. Should the grand bargain of central bank digital currencies — a new era of liquidity accessible by international markets — hold true, there will be a sharp rise in currency competition as settlement in something other than the USD becomes possible. In an earlier edition of The Current Forkast, we covered Brazil’s push for a CBDC — so that a businessman in São Paulo looking to pay a vendor in Santiago wouldn’t have to settle the transaction in USD. We also analyzed, separately, why there might not be as obvious as a use case in France with the highly connected European Union. In terms of its place in Asia as well as the global economy, it’s more of a Brazil than a France. A Korean CBDC would have a different goal in mind than a European CBDC. It’s role would be more similar to Japan’s, as their economies are similar — and competitors. In Asia’s highly competitive regional economy, where neighboring nations have integrated supply chains yet competitive economies, having the ability to settle transactions in your own currency would be a huge advantage. Other CBDC efforts in the region have a different approach with a similar goal in mind. Hong Kong, one of the world’s prominent currency trading hubs, is studying a CBDC as an aid to internationalize DCEP. Just like how the territory is home to the world’s biggest offshore RMB pools and the HKD is an effective on/off ramp for the RMB, a HKCBDC would serve a similar role. That’s the logic behind China’s new digital currency DCEP; as China is a nexus of trade for manufacturing, it’s likely that a major part of the costs of production — assembly — will be denominated in RMB. So why not expand this to more parts of the supply chain? If banks from China that specialize in supply chain financing now offer their credit lines in RMB thanks to DCEP, there’s more of an incentive to use the currency throughout the process. But the chaebols (large family-owned conglomerates) in Seoul are certainly no slouches: their supply chain is also a regional endeavour that spans borders and currencies. Samsung, for instance, is an active player in Vietnam through its investment in the country’s manufacturing capability. But the Vietnamese dong isn’t known for its liquidity: converting the Korean won to USD to Vietnamese dong adds costs through forex fiction. In the ultra competitive world of consumer goods manufacturing, anything to save a few points on margin is a godsend. Central bankers in East Asia tend to be a conservative bunch, but rivalries run deep. dollar, the HKD still serves as an on-ramp and off-ramp for China’s renminbi. If there’s a chance to knock the yen down a notch and keep the RMB at bay, it should not be surprising that Seoul is now also racing toward creating its own CBDC. Hong Kong is home to the largest off-shore liquidity pool of RMB. With HKD’s international liquidity, the city acts as a pipeline for EUR/USD-HKD-RMB settlement. Here’s where the value of Hong Kong would come in for a digital RMB. If the e-RMB is going to be internationalized, the first port of call would be Hong Kong — just like how the RMB is used in the city as a jumping off point for international trade. In an era of DCEP and widespread CBDCs, a future forex market in Hong Kong will likely include “digital pools” where these currencies are traded or exchanged for digital assets like tokenized gold or oil. China’s new “digital currency, electronic payment” (DCEP) system, the new e-RMB currently being put through nationwide testing by the mainland’s central bank, the People’s Bank of China (PBOC), has made more strides toward what could be an imminent rollout. Given that China just wrapped up its “Golden Week” fall holidays, the timing of these red packets is well thought out. Mainlanders are known to spend a lot of money during this time on shopping and travel. Despite signs that China’s economy is already on the mend, having these red packets is a nice touch as times remain tough for many. The extra cash could only create incentives to use the new DCEP and encourage its acceptance as a payment method, not to mention widen PBOC’s beta testing for DCEP at over 3,000 retail shops. Doesn’t this remind everyone of the token airdrops of yore? Unocoin — Series A, India, US million Indian cryptocurrency exchange Unocoin closed a million funding round this week, raising funds from NYC blockchain firm XBTO Group and San Francisco’s 2020 Ventures. The funding round was led by billionaire Tim Draper’s venture capital firm, Draper Associates, which contributed an unpublished amount of funding. Unocoin is India’s first cryptocurrency exchange and claims a million valuation following the funding round. In a press release, Unocoin stated that the funding would be used for “development of new products,” as well as “enhancement of […] infrastructure” and “talent acquisition.” Forkast. Given that cryptocurrency in India remains in a legal gray area, with India’s parliament in no hurry to pass legislation, it’s remarkable that Draper Associates would choose to invest in such an uncertain market unless they were confident that this would lead to a profitable outcome. News has featured Draper on a digital dollar-focused Word on the Block podcast, where he predicted that BTC would hit 0,000 in 2022 or in the “beginning of 2023.” He also noted the likely devaluation of the USD by the U. Federal Reserve, claiming that it’s being “printed like it’s going out of style.” The amount Draper is investing in Unocoin may be a rounding error for him, but it is also clear, in this instance, on which country he is betting money. From the Editor’s Desk Dear Reader, What’s happening in this part of the world, where Forkast sits in Asia? In its latest effort to push mainstream adoption for the e-RMB, China is handing out 50,000 digital “red packets.” Why is this significant? The red packet in China (and across Asia) is entrenched in tradition, culture, and how a nation views money. The red packet is symbolic, a congratulatory expression of joy and economic support given during the holidays (bosses to underlings, tenants to doormen, grateful customers to attentive staff, etc.) and special occasions, like weddings and birthdays. Popular among the wisest and most senior among us, it serves as a nice gift to little children. It is a nod to societal generosity, the color red to ward off evil spirits, and hopes and wishes for prosperity and wealth. elections in November and the disintegrating global supply chain and you have an interesting financial fissure during a critical political time. So when the government is doling out 50,000 red packets of their new digital RMB, you know China is getting ready to launch its vision for their Digital Currency/Electronic Payment (DCEP) system, as mainstream adoption is critical to its success. Red packets are a fast route into the hearts and minds of people across China. Until the next time, Angie Lau, Founder and Editor-in-Chief By the numbers: Square — 5,000% increase in Google search volume. Twitter CEO Jack Dorsey’s financial services company Square has purchased US million worth of bitcoins. The payments platform says that its recent acquisition of 4,709 bitcoins represents about 1% of its total assets. It is questionable whether Square bought bitcoin because of Jack Dorsey’s desire to push the cryptocurrency, according to the company’s statement, as a tool of “economic empowerment.” It is more likely that Square bought bitcoin because it’s the first layer of an underlying asset for a future token or digital asset of sorts for the company. Let’s first unpack the idea that bitcoin is a way to bank the unbanked or empower the economically disadvantaged. Research done in 2019 by former Coinbase engineer Preethi Kasireddy shows that 2% of the BTC addresses out there control 80% of the wealth. Even studies that don’t show such a concentration of bitcoin ownership show holding patterns that reflect that bitcoin is a commodity dominated by whales. Having access to those kinds of assets (and wanting to put it in cryptocurrency) would put you well above the 95th quartile of income, and more in the range of top 1% to 0.5%. Over 60% of wallets contain between 100 and 1,000 BTC, per crypto-economist Gabor Gurbacs. With bitcoin, it’s more about multi-millionaires fighting multi-millionaires. Financial inclusion means the mere millionaires would have more exposure. De Fi is a good case study for this: its userbase is dominated by whales moving assets with values in the six-figures to liquidy pools to get double-digit returns. Once the non-whales come in for a project in investments denominated with three or four zeros, a new generation of bagholders is quickly created with people having a large percentage of their net worth being wiped out. regulators being much more open to tokens — if done properly — a tokenized solution to expedite the payment process, or fund further research into it, is not out of the question. a stablecoin) it would require an underlying asset, like a big stash of BTC to help build liquidity. So Square likely won’t be empowering the next generation of financial inclusion, because that’s not what bitcoin is being for in real life now. Likely building out some sort of blockchain-based solution to find efficiencies in cross-border payments. By the numbers: Google Cloud — 4,150% increase in Google search volume. While decentralized storage service Filecoin’s mainnet closes in, major cloud services are also turning their heads towards blockchain technology. Google Cloud was the latest to do so, by joining Block.one’s EOS network. Enterprise-level firms are taking a serious look at blockchain technology for their underlying software stack. A big part of the reason is that blockchain-powered cloud storage is becoming competitive with established cloud providers. It could be that cloud providers begin to offer hybrid solutions, to capture the need for firms to diversify where their data is held. This move, if ratified by EOS, would lend a lot of support to the platform as well. EOS, since its launch, has struggled with reputational issues since its inception: a combination of centralization of governance with China-based stakeholders and initial torrent of grandiose claims during its initial ICO created a cloud of skepticism around the project. And what’s the best way to counter this skepticism? If anything, this might open up the spirit of competition between different blockchains. With Google Cloud’s vote of confidence in EOS, how might, say, Microsoft react? While Google and Microsoft have both supported blockchain with their cloud services for quite some time, they have also taken a lot of effort to support a level of agnosticism and neutrality. One could speculate that this might represent a turn in a different direction. Should the grand bargain of central bank digital currencies — a new era of liquidity accessible by international markets — hold true, there will be a sharp rise in currency competition as settlement in something other than the USD becomes possible. In an earlier edition of The Current Forkast, we covered Brazil’s push for a CBDC — so that a businessman in São Paulo looking to pay a vendor in Santiago wouldn’t have to settle the transaction in USD. We also analyzed, separately, why there might not be as obvious as a use case in France with the highly connected European Union. In terms of its place in Asia as well as the global economy, it’s more of a Brazil than a France. A Korean CBDC would have a different goal in mind than a European CBDC. It’s role would be more similar to Japan’s, as their economies are similar — and competitors. In Asia’s highly competitive regional economy, where neighboring nations have integrated supply chains yet competitive economies, having the ability to settle transactions in your own currency would be a huge advantage. Other CBDC efforts in the region have a different approach with a similar goal in mind. Hong Kong, one of the world’s prominent currency trading hubs, is studying a CBDC as an aid to internationalize DCEP. Just like how the territory is home to the world’s biggest offshore RMB pools and the HKD is an effective on/off ramp for the RMB, a HKCBDC would serve a similar role. That’s the logic behind China’s new digital currency DCEP; as China is a nexus of trade for manufacturing, it’s likely that a major part of the costs of production — assembly — will be denominated in RMB. So why not expand this to more parts of the supply chain? If banks from China that specialize in supply chain financing now offer their credit lines in RMB thanks to DCEP, there’s more of an incentive to use the currency throughout the process. But the chaebols (large family-owned conglomerates) in Seoul are certainly no slouches: their supply chain is also a regional endeavour that spans borders and currencies. Samsung, for instance, is an active player in Vietnam through its investment in the country’s manufacturing capability. But the Vietnamese dong isn’t known for its liquidity: converting the Korean won to USD to Vietnamese dong adds costs through forex fiction. In the ultra competitive world of consumer goods manufacturing, anything to save a few points on margin is a godsend. Central bankers in East Asia tend to be a conservative bunch, but rivalries run deep. dollar, the HKD still serves as an on-ramp and off-ramp for China’s renminbi. If there’s a chance to knock the yen down a notch and keep the RMB at bay, it should not be surprising that Seoul is now also racing toward creating its own CBDC. Hong Kong is home to the largest off-shore liquidity pool of RMB. With HKD’s international liquidity, the city acts as a pipeline for EUR/USD-HKD-RMB settlement. Here’s where the value of Hong Kong would come in for a digital RMB. If the e-RMB is going to be internationalized, the first port of call would be Hong Kong — just like how the RMB is used in the city as a jumping off point for international trade. In an era of DCEP and widespread CBDCs, a future forex market in Hong Kong will likely include “digital pools” where these currencies are traded or exchanged for digital assets like tokenized gold or oil. China’s new “digital currency, electronic payment” (DCEP) system, the new e-RMB currently being put through nationwide testing by the mainland’s central bank, the People’s Bank of China (PBOC), has made more strides toward what could be an imminent rollout. Given that China just wrapped up its “Golden Week” fall holidays, the timing of these red packets is well thought out. Mainlanders are known to spend a lot of money during this time on shopping and travel. Despite signs that China’s economy is already on the mend, having these red packets is a nice touch as times remain tough for many. The extra cash could only create incentives to use the new DCEP and encourage its acceptance as a payment method, not to mention widen PBOC’s beta testing for DCEP at over 3,000 retail shops. Doesn’t this remind everyone of the token airdrops of yore? Unocoin — Series A, India, US million Indian cryptocurrency exchange Unocoin closed a million funding round this week, raising funds from NYC blockchain firm XBTO Group and San Francisco’s 2020 Ventures. The funding round was led by billionaire Tim Draper’s venture capital firm, Draper Associates, which contributed an unpublished amount of funding. Unocoin is India’s first cryptocurrency exchange and claims a million valuation following the funding round. In a press release, Unocoin stated that the funding would be used for “development of new products,” as well as “enhancement of […] infrastructure” and “talent acquisition.” Forkast. Given that cryptocurrency in India remains in a legal gray area, with India’s parliament in no hurry to pass legislation, it’s remarkable that Draper Associates would choose to invest in such an uncertain market unless they were confident that this would lead to a profitable outcome. News has featured Draper on a digital dollar-focused Word on the Block podcast, where he predicted that BTC would hit 0,000 in 2022 or in the “beginning of 2023.” He also noted the likely devaluation of the USD by the U. Federal Reserve, claiming that it’s being “printed like it’s going out of style.” The amount Draper is investing in Unocoin may be a rounding error for him, but it is also clear, in this instance, on which country he is betting money.

date: 02-May-2021 11:22next


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