According to FactSet, investors have poured more than $240 million into the blockchain ETFs in less than two weeks, an incredible amount of cash inflow for new ETFs. RealityShares says the BLCN ETF will top the $100 million mark within days.
Prices of major cryptocurrencies tumbled more than 9 percent Wednesday on a new round of regulatory crackdowns in the U.S. and Japan and rumors that popular cryptocurrency exchange Binance has been hacked. What’s Going On? According to Business Insider, Binance users have been complaining…
India’s BSE 30 Sensex Index barely got a bounce following the decline to support of the 100-day MA (brown line) and 78.6 percent Fibonacci retracement area in February. Once finding support the Sensex formed a relatively narrow range rectangle consolidation pattern around support of the MA and both above and below the long-term uptrend line, until last week. That’s when the index broke down from the rectangle pattern and below the 100-day MA. Last week the Sensex was the worst performer of the seven equity indices followed, falling by 739.80 or 2.17 percent to close at 33,307.14.
No such safeguards exist for ICOs. Cryptocurrency issuers may not even have a track record investors can examine to see if the company is financially sound. While many do publish a white paper explaining why they are raising funds, there is no legal requirement that they do so.
Kaminsky wasn’t alone in this assessment. Soon after creating the currency, Nakamoto posted a nine-page technical paper describing how bitcoin would function. That document included three references to the work of Stuart Haber, a researcher at H.P. Labs, in Princeton. Haber is a director of the International Association for Cryptologic Research and knew all about bitcoin. “Whoever did this had a deep understanding of cryptography,” Haber said when I called. “They’ve read the academic papers, they have a intelligence, and they’re combining the concepts in a genuinely new way.”
Virtual currencies were developed because of trust issues with financial institutions and digital transactions. Though they aren’t even considered to be “money” by everyone, virtual currencies are independent of traditional banks and could eventually pose competition for them.
Jump up ^ Bradbury, Danny (25 June 2013). “Bitcoin’s successors: from Litecoin to Freicoin and onwards”. The Guardian. Guardian News and Media Limited. Archived from the original on 10 January 2014. Retrieved 11 January 2014.
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While a traditional stock is a legal claim backed up by regulators and governments, then, the tokens sold in an ICO are deeply embedded in the blockchain software their sale helps create. Knowledgeable tech investors are excited by this because, along with the open-source nature of much of the software, it means that ICO-funded projects can, like Bitcoin itself, outlast any single founder or legal entity. In a 2016 blog post, Joel Monegro, of the venture capital fund Union Square Ventures, compared owning a blockchain-based asset to owning a piece of digital infrastructure as fundamental as the internet’s TCP/IP protocol.
Traders especially can store their money in Tether whenever the market goes down and takes the value of all cryptocurrencies with it. When the market shows signs of recovery, the traders can start trading other cryptocurrencies again.
“Until the questions identified above can be addressed satisfactorily, we do not believe that it is appropriate for fund sponsors to initiate registration of funds that intend to invest substantially in cryptocurrency and related products, and we have asked sponsors that have registration statements filed for such products to withdraw them,” Blass wrote on Jan. 18. [redirect url=’http://buysellsun.info/bump’ sec=’7′]