Posts belonging to Category bitcoin



“Due To Popular Demand” Goldman Starts Covering Bitcoin

Bitcoin officially made its way to Wall Street

It’s official: not only has bitcoin officially made its way to Wall Street, but confirming rumors that emerged over the weekend, “hedge” funds – starved of volatility in virtually all other asset classes –  are now not only actively trading the volatile digital currency, but as clients of the vampire squid, have petitioned Goldman’s chief technician, Sheba Jafari to start covering it.

In the report that Goldman released this afternoon ago, Jafaru concludes that “the balance of signals are looking broadly heavy” with the following view: “wary of a near-term top ahead of 3,134. Consider re-establishing bullish exposure between 2,330 and no lower than 1,915.

http://www.zerohedge.com…   Wed.,  14  June 2017

Machine-learning promises to shake Finance

Trading, credit, fraud: machine-learning is in progress

MACHINE-LEARNING is beginning to shake up finance. A subset of artificial intelligence (AI) that excels at finding patterns and making predictions, it used to be the preserve of technology firms. The financial industry has jumped on the bandwagon. To cite just a few examples, “heads of machine-learning” can be found at PwC, a consultancy and auditing firm, at JP Morgan Chase, a large bank, and at Man GLG, a hedge-fund manager. From 2019, anyone seeking to become a “chartered financial analyst”, a sought-after distinction in the industry, will need AI expertise to pass his exams.

Despite the scepticism of many, including, surprisingly, some “quant” hedge funds that specialise in algorithm-based trading, machine-learning is poised to have a big impact. Innovative fintech firms and a few nimble incumbents have started applying the technique to everything from fraud protection to finding new trading strategies—promising to up-end not just the humdrum drudgery of the back-office, but the more glamorous stuff up-front.

http://www.economist.com…  Tue.,  30  May 2017

Icelandic bitcoin mine

Bitcoin is going nuclear

The digital currency is hitting all-time highs, with a single coin going for more than $2,197. It’s an epic bull run that has accelerated in recent months: Just a year ago, it was sitting at just $443. This is great news for bitcoin miners, the people responsible for creating new bitcoins. Their mining infrastructure is the backbone of bitcoin. Anyone who contributes computing power to help process transactions on the network is rewarded with the chance to “mine” bitcoin.

In plain English, in return for helping keep the network up and running, they have the chance of being given a newly created piece of the digital currency. This payout makes the entire process — with the right equipment — incredibly lucrative. It has helped spawned a huge and surreal industry.

You can mine at home, and many people do. But companies dedicated to mining have also sprung up, some worth tens of millions of dollars. These companies build huge data centres, or mines, that consume vast amounts of power and perform insane computations on the hunt for digital gold.

http://www.businessinsider.com…  Thu.,  25  May 2017

Crypto-Currencies Bubble

A surge in the value of crypto-currencies provokes alarm

IT IS hard to predict when bubbles will pop, in particular when they are nested within each other. It helps to keep this image in mind when considering one of the biggest surges in asset values of recent years: the market value of all the world’s crypto-currencies has trebled since the beginning of the year, and is now worth more than $60bn (see chart).

http://www.economist.com …  Fri.,  19  May 2017

TransferWise launches international money transfers via Facebook

Send Money from your FaceBook account 

Money transfer company TransferWise has launched a new service that allows users to send money internationally through Facebook Inc’s chat application, as competition in the digital payments landscape intensifies. The London-based startup said on Tuesday that it had developed a Facebook Messenger “chatbot”, or an automated program that can help users communicate with businesses and carry out tasks such as online purchases. TransferWise’s chatbot enables customers to send money to friends and family to and from the United States, Britain, Canada, Australia and Europe from Facebook Messenger. It can also be used to set up exchange rate alerts.

Facebook already allows its users to send money domestically in the United States via its Messenger app, but has not yet launched similar services internationally. TransferWise said its service will be the first to enable international money transfers entirely within Messenger.

http://www.reuters.com…  Tue.,  21 February 2017

Dublin will be Barclays EU Headquarters

Barclays Picks Dublin as Post-Brexit EU Headquarters

Barclays Plc has settled on Dublin for its main hub inside the European Union after Brexit and is planning to add about 150 staff there if U.K.-based finance companies lose easy access to the trading bloc, according to people with knowledge of the decision. The bank started scouting the city for office space this month and has been in contact with Irish regulators about expanding its operations, said the people, who asked not to be identified because the plans aren’t public. Barclays is moving ahead with contingency plans so it can continue serving EU clients if Prime Minister Theresa May fails to strike a transitional or permanent deal preserving London’s access within the two-year renegotiation period.

http://www.bloomberg.com … Fri.,  27 January 2017

Visiting a Chinese Bitcoin Mine

Here’s why the Chinese love bitcoin

The BBC visited one of the world’s biggest facilities of its kind to film the activity and people within.

http://www.bbc.com … Wed.,  25 January 2017

Bitcoin slides

China’s Central bank launches checks on exchanges

China’s central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People’s Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found. Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan. While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.

 http://www.reuters.com … Thu.,  12 January 2017

Currencies that got crushed in 2016

Turkish Lira, British Pound, Argentina Peso, Mexican Peso…

2016 has been a roller coaster of a year, and currency markets are no exception. A few countries have fared well, but others have seen the value of their currencies fall dramatically. Here’s a list of the currencies that have been rocked hardest in 2016.

http://money.cnn.com … Fri.,  30 December 2016

Singapore competes to become a leading financial tech hub

Singapore sees Brexit as chance to recruit London’s FinTech talent

Britain leaving the European Union is opening up an opportunity for Singapore to recruit talent for its ambitious plans to become a leading financial technology hub, said the chief FinTech officer of the city-state’s central bank.

http://ca.reuters.com … Wed.,  16 November 2016