|submitted by Bitsgap to Bitsgap [link] [comments]|
DST has the backing of the big boys at the top in the Kremlin, which is why it will go from strength to strength (5)Milner found out Breyer liked Impressionist art and took him to Russian’s Hermitage Museum to view Matisse paintings otherwise closed off to the public. Three months later Yuri Milner’s DST invested into Facebook at a bloated value. (2)
Mr Milner dismissed suggestions that at a valuation of $10bn he overpaid for his stake in Facebook, especially given that the social networking site has yet to prove it has turned to profit. (3)By the end of 2009, DST would own 10% of Facebook. Later revealed by the Paradise Papers, DST’s investments into Facebook were financed by the Russian government through state-owned Gazprom. That’s right, in 2009 Russia owned 10% of Facebook. (6)
it’s seen as a desperate and rather vulgar deal on the one hand—Milner buying a small stake in Facebook, valuing the entire company at $10 billion—and, on the other, Facebook debasing itself by taking Russian money. Russian money! In fact, it seems rather like a desperate deal for both parties (in the midst of the banking crisis, Facebook has only two other bidders for this round—and none from the top VC tier) (4)
According to the Mirror Online, Abramovich paid Berezovsky tens, and even hundreds, of millions every year for "krysha", or mafia protection. (5)In June 2011, Rupert Murdoch ended his foray into social media by selling Myspace to Justin Timberlake (2) and elected Jim Breyer to the board of News Corp (3).
Prismatic’s technology works by crawling Facebook, Twitter and the web (“anything with a URL”) to find news stories. It then uses machine learning to categorize them by Topic and Publication. Prismatic users follow these Topics and Publications, as well as Individuals and the algorithm then uses these preferences and user-activity signals to present a relevant Newsfeed. (1)Sounds like the beginning of what could be a propaganda dissemination tool. That goes in-line with Yuri Milner’s vision of Social Media. Milner’s theory:
“Zuckerberg’s Law”: Every 12 to 18 months the amount of information being shared between people on the web doubles... Over time people will bypass more general websites such as Google in favor of sites built atop social networks where they can rely on friends’ opinions to figure out where to get the best fall handbag, how to change a smoke detector, or whether to vacation in Istanbul or Rome. “You will pick your network, and the network will filter everything for you,” Milner explained. (2)So how does Milner intend to utilize the data gathered through social media? Let’s see what Milner did to Russia’s top social media site, VK:
In January 2014, Durov sold his 12 percent stake to Ivan Tavrin, the CEO of major Russian mobile operator Megafon, whose second-largest shareholder is Alisher Usmanov, one of Russia’s most powerful oligarchs, a man who has long been lobbying to take over VK.The Euromaidan protest ousted the Russian-backed president of Ukraine, Viktor Yanukovych, whom Paul Manafort had worked to install. (4)
Then, in April 2014, Durov stated he had sold his stake in the company and became a citizen of St Kitts and Nevis back in February after "coming under increasing pressure" from the Russian Federal Security Service to hand over personal details of users who were members of a VK group dedicated to the Euromaidan protest movement in Ukraine. (3)
Mr. Zuckerberg and Mr. Medvedev talked about Facebook’s role in politics, though only jokingly in reference to its importance in the American presidential campaign, according to Mr. Medvedev’s press office. (1)While there he also visited Victor Vekselberg's Skolkovo, who’s currently under investigation by Mueller for donations to Trump (2).
As Obama’s effort to reboot diplomatic relations [with Russia] sputtered, federal officials began raising alarms about the Skolkovo Foundation’s ties to Putin.And took time to teach Russian's how to hack Facebook friend data, the same hack used by Cambridge Analytica, Donald Trump’s campaign data firm.
“The foundation may be a means for the Russian government to access our nation’s sensitive or classified research, development facilities and dual-use technologies” (3)
In a 2012 video, Facebook's Simon Cross shows the Moscow crowd how they can "get a ton of other information" on Facebook users and their friends. "We now have an access token, so now let's make the same request again and see what happens," Cross explains (YouTube). "We've got a little bit more data, but now we can start doing really interesting stuff. We can get my friends. We can get some more information about one of my friends. Here's Connor, who you'll meet later. Say 'hello,' Connor. He's waving. And we can also get a ton of other information as well." (4)Facebook later hired the individual who hacked Facebook and sold the data to Cambridge Analytica (5).
Global accounting powerhouse Deloitte has released a report showing the growth and dynamism of blockchain technology. The findings follow a survey of leading executives in a dozen countries conducted in February 2019.submitted by y0ujin to NovemGold [link] [comments]
Blockchain technology has had an exciting evolution. Currently, many companies are looking for ways to implement blockchain transparency and immutability in their operations. Accordingly, the blockchain is moving from the fringe entity it was previously to now being front and center in corporate strategies.
Cryptocurrency is generally a massive success story. However, leading coins like Bitcoin have had their fair share of highs and lows in recent years. This kind of inconsistency tends to put off certain types of investors who are sticklers for stability.
Slowly but surely, blockchain technology is distinguishing itself for its utility value. The fates of crypto and blockchain technology no longer appear to be as intertwined as it seemed at their inceptions. Even governments like China, which have stringent regulations on cryptocurrency trading, are now actively researching distributed ledger technology (DLTs).
Blockchain Disruption is GrowingThe uncertainty about the viability of blockchain technology is decreasing. Leading executives acknowledge that the technology is real and that blockchain solutions can be part and parcel of their future business models.
As per the Deloitte report, 53% of executives see blockchain technology as a critical part of their business in 2019. This figure marks a 10-point increase from last year. Even more important is the fact that there is a 40% rise in executives willing to invest $5 million or more in new blockchain initiatives over the next twelve months.
Over time, blockchain technology has displayed impressive diversification in its use-cases. The practicality of its solutions, especially in supply chain and data management, continues to draw accolades. This level of depth and maturity has won over industry leaders from various sectors.
Still, the level of actual deployment does not tally with the enthusiasm around blockchain. With every innovation, potential adopters display a reasonable level of skepticism about long-term viability. Among the executives, a significant 43% think that blockchain technology is overhyped. Therefore, it is not uncommon to find some of these executives full of praise for blockchain but still hedging until they see more development.
The Big PictureVarious industries have seen blockchain utility causing an immediate impact. Fintech is a leading success story from the blockchain age. Combining artificial intelligence and the transparency of blockchain has resulted in Fintech startups that can become the next Silicon Valley unicorn.
The bottom line is that an overwhelming majority of respondents view blockchain as broadly scalable and believe that it will eventually achieve widespread adoption. A compelling business case for blockchain is a prerequisite for such sentiment. This sentiment is proof of blockchain’s maturity and resilience over the years.
Existing concerns range from replacing or adapting current legacy systems to regulatory hurdles, and even uncertainty about return on investment. Going forward, it will be fascinating to see what the skeptical executives in particular think of the innovation.
According to the Deloitte survey, most respondents see potential upsides in business model/value chain innovation as some key blockchain advantages. Blockchain technology continues to distinguish itself. With the introduction of smart contracts in 2015, blockchain is now a treasure trove for developers.
Decentralized applications (dApps) are a dynamic tool to create trustless transactions. Going into 2020, LinkedIn’s 2020 Emerging Jobs Report finds that the job of a blockchain developer ranks high on the list of top emerging jobs alongside others like A.I. specialists and robotic process automation consultants.
As such, blockchain is set to become one of the hottest fields next year. Whether as a developer, investor, or casual participant, a lot is going on for everyone.
Government Adoption of DLTsMuch of the skepticism around cryptocurrency stemmed from the fact that governments across the world sought to either ignore or regulate this field in a pessimistic manner. The fact that China is now warming up to DLTs could be a sign of the changing times.
Government adoption of blockchain can be another watershed moment for this innovation. With possible applications in areas such as healthcare and supply chain management, this technology could genuinely explode.
India is yet another country with a strict policy on crypto trading. The India Times reported on Nov. 27, 2019 about an exciting development relating to DLTs: India’s Ministry of Electronics and Information Technology intends to embrace blockchain technology, adopting a national strategy.
What Blockchain Adoption Might Mean for CryptoIndia and China’s evolving attitudes are a testament to the resilience of the blockchain. India has banned crypto trading for sovereignty reasons, volatility, and its inability to serve the functions of regular currencies.
The move to embrace blockchain technology might have the domino effect of a change in attitudes towards cryptocurrency. Institutional investors, in particular, are keen to be on the safe side of regulators.
Western governments led by the USA have to take a more assertive role in the development of this sector. If the likes of China take a leading role in moving blockchain forward, it is only a matter of time before the rest of the developed world follows suit.
Countries that have a blockchain-friendly environment include Estonia, Malta, Switzerland, the USA, China, and the U.K. This list is from a Consensys research report published in November 2019. These countries have different levels of blockchain implementation in the government and public sectors. Estonia was the first country to implement blockchain at a national level, with blockchain testing going as far back as 2008. Malta is also an important blockchain hub, given its suitable regulatory regime.
The Importance of the US Market and Blockchain AdoptionBecause of its economic size, the USA is a very consequential market for blockchain technology. Government adoption is already impressive. For example, the United States Department of Health and Human Services (HHS) invested $49 million to build A.I. and blockchain solutions. These solutions will cut operational backlog and costs. States like Arizona, Illinois, and Delaware also have different measures to incorporate blockchain technology into their activities.
Government adoption can be a lifeline for blockchain technology. However, like every other aspect of commerce, private enterprise will be the key to a global blockchain presence. The rise of giant corporations like Amazon, Apple, and Samsung shows the potential of such an enterprise.
With the appropriate regulatory environment in place, such corporations can make a difference through blockchain. Blockchain’s greatest asset is its transparency, and this trait can come in handy for companies with supply-chain management needs.
The reduction of personnel costs is something any company seeking to increase profitability will always look at. Blockchain technology is an opportunity to cut these costs while improving efficiency.
The Future of BlockchainFor any innovation, the challenge is always whether it can live up to the hype. The dot com bubble is everlasting proof that many tech wonder stories don’t live up to their marketing. This phenomenon is the one issue blockchain has had to answer throughout its growth, and will continue to address in the future.
So far, so good. After all, blockchain has got to where it is despite the lack of mainstream marketing other innovations have enjoyed. The fact that it grew while seeming like it was joined at the hip to Bitcoin meant that it had to have a long acceptance curve. Bitcoin is a decentralized digital currency — an idea which many had a tough time understanding.
As 2020 approaches, blockchain is taking an increasingly prominent position in global commerce. It is one of the most exciting fields for all stakeholders.
Blockchain represents a new way of doing business, management, and even tracking value, and startups are at the forefront of this new era. Therefore, it is not overly generous to state that blockchain technology has a bright future. With more industry leaders giving it the green light, it is now time to seriously look for opportunities in this sector. In the future, it will be fascinating to see the heights to which this industry scales.
submitted by turtlecane to CryptoCurrency [link] [comments]
The Federal Reserve says the Bitcoin Futures on the Chicago Mercantile Exchange (CME) are the reason the Bitcoin bear market began. Indeed, the Dec. 17, 2017 launch date of the CME Bitcoin futures coincided with the beginning of Bitcoin’s crash from $20,000 to as low as $3,100 in December 2018.
This is perhaps due to immense short selling pressure combined with the printing of vast quantities of paper Bitcoins on CME. The Bitcoin futures on CME are operated by Globex, the same organization that suppresses global gold prices via the printing of paper gold on COMEX.
Aside from the long term damaging effects on the Bitcoin market, it seems possible that there are shorter term impacts associated with the expiration of futures contracts. The CME Bitcoin futures contracts for a particular month expire on the last Friday of the month, except if there is a holiday in the United Kingdom or United States. A full list of CME Bitcoin futures contract expiration dates can be found at this link.
This expiration date marks the benchmark used to payout profits and losses, and it is possible that futures traders manipulate the price of Bitcoin to optimize their profits. For example, when short selling, a common practice is “banging the close,” in which traders manipulate the underlying asset’s spot price to drop lower to increase profits from short selling. It is also possible for traders in long positions to manipulate the market to go higher right as the expiration happens, which could perhaps also be called “banging the close.”
In this analysis, Crypto.IQ explores the actual data to see if there is any anomalous activity around the time CME futures contracts expire.
First, the CME Bitcoin futures expiration dates are overlaid on a chart from Bitcoinwisdom.com for the entire year of 2018, and there is an additional line for the launch date on Dec. 17, 2017, which makes it extremely clear that the genesis of the CME Bitcoin futures market had a substantial impact on the Bitcoin market from the very beginning.
Without doing any deep analysis, it seems that many significant peaks and dips in the Bitcoin market coincide with the CME Bitcoin futures expiration dates. This would suggest there is plenty of banging the close occurring.
Crypto.IQ will analyze each of these CME Bitcoin future settlement dates individually to get a clearer picture.
The line at the left side of the chart shows the date that CME Bitcoin futures launched, Dec. 17, 2017. The line at the right side (not to be confused with the far right line which is the Y axis) shows the date the first Bitcoin futures contract on CME expired, Jan. 26, 2018.
This contract was an extreme win for short sellers, and despite an attempted rally around the 2018 New Year, the market had declined to $11,000 by the time the contract expired. There is no sign that there is an acute case of banging the close, but perhaps banging the close was not even needed at the expiration since the market fell so hard. It is possible that CME futures traders banged the close all month long.
The line in the above chart shows the second CME Bitcoin Futures contracts expiration on February 23. In this case, banging the close seems pretty obvious. An attempted bounce-back rally that peaked five days before the expiration was stomped out, and Bitcoin hit a local minima right around the time the contracts expired. Then the rally re-starts and continues into early March.
The February futures expiration date perhaps gives an understanding of how the CME Bitcoin futures can be very detrimental for the market long term. If traders made short sell bets on Bitcoin, but then Bitcoin begins to have a serious rally, they may coordinate to end the rally. In this case, Bitcoin rallied from $6,000 to nearly $12,000, only to crash below $10,000 when the expiration occurred.
Bitcoin then returned exactly to the peak of this rally near $12,000 once the futures contracts expiration was over. The question is, how high would Bitcoin have rallied if there were not people manipulating the spot market to better their short positions on the futures markets?
The March 29 Bitcoin futures expiration is an excellent example of banging the close. The volume speaks a thousand words, since selling rapidly accelerated and peaked right when the futures contracts for March expired. This futures contracts expiration dropped Bitcoin below $7,000, and it took at least 10 days for the Bitcoin market to recover from this bottom that was likely induced by CME futures-related manipulation. This March expiration is a good example of how a major Bitcoin price crash can be related to the monthly CME Bitcoin futures contracts expiration.
After the catastrophic Bitcoin futures contracts expiration in March, perhaps many traders thought Bitcoin had bottomed out, and a rally soon started after a 10-day recovery period. The rally continued until the April 27 futures contracts expiration, making it an excellent month for long traders. There is an obvious volume peak 2-3 days before the contract expiration, and a $1,000 price crash. It seems possible that this $1,000 price crash was short sellers banging the close to cut losses and perhaps was mitigated by people in long positions banging the close in the other direction.
The turbulence around the futures contracts expiration perhaps significantly slowed the rally. It re-started a few days after the expiration occurred but quickly lost steam and reversed. This may be another example of a bounce-back rally getting rekt by CME Bitcoin futures-related manipulation, but it is impossible to know for sure.
Between the April 27 and May 25 CME Bitcoin futures expiration dates, the bounce-back rally was entirely liquidated as short sellers took back the helm. There appears to have been some obvious banging the close activity 3-5 days before the May contracts expired, with high volumes and a $1,000 price crash. The market stopped dropping once the May contracts expired, and was steady until the middle of June.
This brings up another interesting effect of the CME Bitcoin futures. If a crash occurs around the time of contract expiration, then the market usually has some time to ‘relax’ after the expiration. This makes it more clear that banging the close is a serious issue.
The price of Bitcoin once again crawled lower as the June 29 CME Bitcoin futures contract expiration approached and reached a minimum below $6,000 within about a day of the expiration. After the expiration was complete, the market “relaxed” and rallied off lows. The June expiration once again has the tell-tale signs of banging the close.
Short selling and banging the close lower is not the only option, and perhaps not a good option once Bitcoin has fallen too much. Prior to the July 27 expiration, the market had been rallying, and the rally peaked over $8,000 around the time the expiration occurred. Then the market began declining within days after the July contract expired. This could be a good example of CME futures traders going long, and perhaps helping Bitcoin’s price to go higher. Once they got their long profits, then they may have collectively decided it was time to squeeze money out of short selling again. The timing of the peak of this rally seems too exact to be a coincidence.
After the July expiration, the market crashed below $6,000 and then began to steadily rise, probably from an overall consensus that the Bitcoin price was near its support level, and it was a good time to buy. There is no sign of banging the close to stop the slight rally when the Aug. 31 expiration occurred. It is important to note that short sellers would have still had nice profits since overall Bitcoin declined $1,000 during August.
A few days after the August contracts expired Bitcoin crashed hard, just like what happened days after the July contracts expired. This brings up the possibility that CME futures traders are doing far more than banging the close. They may be preemptively banging the market right after they buy their monthly contracts, which would cause market panic, widespread selling, and far lower prices than they could achieve from their own manipulation.
After the hard crash right after the August expiration, the Bitcoin market went sideways. There is signs of banging the close around the September 28 expiration since volume increased and price dipped right as the expiration occurred. Overall, September was another good month for CME short sellers.
The trend in October was very flat, and when the expiration happened on Oct. 26, there wasn’t much action. There was almost no change in price during October, and this may have created an environment where an equal amount of longs and shorts were present, and much fewer positions overall. Perhaps when the market does not move much in either direction banging the close does not happen.
November will go down as one of the worst months in 2018 for Bitcoin and the crypto market, however. The Bitcoin Cash fork around Nov. 14 coincided with a crash below Bitcoin’s $5,800 support level. The SEC issued devastating enforcement actions against Paragon (PRG) and Airfox (AIR) and said that would be the protocol for ICO enforcement going forward. Further, Bakkt delayed the launch of physical Bitcoin futures, which is something many investors were looking forward to.
One thing ignored by most people’s market analysis of this crash is that the CME futures traders probably placed large short sell positions and perhaps manipulated the market to crash harder than it should have. The market stopped crashing 4 days before futures contracts expired on Nov. 30, and there appears to be a nice $400 price dip right before the November contracts expired.
Zooming in on the Nov. 30 contracts expiration makes it obvious that the close was banged to lock in maximum short selling profits for November.
The December 2018 CME futures contracts expire on Dec. 28, and in 2019, the schedule is Jan. 25, Feb. 22, March 29, and June 28. It seems these dates will be important for Bitcoin traders, since as the above analysis shows, the spot market often crashes right when expiration happens on down months, and during up months the rally usually peaks right around the expiration date. Only if the market is totally stable all month, like it was in October 2018, the expiration date does not have much significance.
There is plenty of evidence, based on these charts, that CME Bitcoin futures traders are participating in banging the close to increase their profits. There is also a disturbing trend of the Bitcoin market crashing days after contracts expire. This is perhaps traders who take up short positions for the new month launching their ammunition early to cause a major crash, which is perhaps more profitable for them than the small movements they can cause when banging the close. Multiple bounce-back rallies in 2018 died days after contracts expired, which is likely simultaneous with CME futures traders taking up their short positions.
Another worrisome factor is that any actual bad news, like the Bitcoin Cash fork and SEC enforcement, may be blood in the water for CME futures traders. The November crash ended right before the contracts for November expired, making it seem like the CME futures traders launched their ammunition to crash the market when the market was already crashing due to bad news, greatly amplifying the overall crash.
Perhaps the Commodity Futures Trading Commission (CFTC) should consider that the relatively small size of Bitcoin, which has less than a $100 billion market cap, is inappropriate for Globex futures since it is too easy to manipulate.
"There is no direct cooperation between Alibaba and NEO/Onchain, other than their mailbox service is using Law Chain to provide attested email service. In terms of Microsoft, yes we have cooperation with Microsoft China because NEO is built with C# and .NET Core, and NeoContract is the first in the world to support writing smart contract with C#"https://www.reddit.com/NEO/comments/6puffo/we_are_da_hongfei_and_erik_zhang_founders_of_neo/dksm5ga/
"We have pretty good communication with government, with regulators. They don't have any negative impression with NEO and they like our technology and the way we deal with things. Regulation is not an issue for us"https://www.youtube.com/watch?v=qpUdTIQdjVE&feature=youtu.be&t=1m16s
“Before they started cleaning up the market, I was asked for information and suggestions” “I do not expect the government to call me in the short-term and say, ‘Let’s use NEO as the blockchain technology infrastructure of China.’ But in the medium term? Why not? I think it’s possible.”https://medium.com/@TheCoinEconomy/neo-founder-da-hongfei-advised-china-on-ico-exchange-ban-says-govt-4631b9f7971
Bitcoin daily chart alert - Bulls stop the bleeding - Nov. 27. Jim Wyckoff Wednesday November 27, 2019 08:02. Kitco News. Share this article: Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! Editor's Note: Welcome to Kitco's Bitcoin Daily Technical Alert ... Reminder: Nov 15, 2020 Planned Network Upgrade. Planned Network Upgrade. 21. Days: 21. Hours: 49. Minutes: 43. Seconds . The Bitcoin Cash network will undergo a protocol upgrade as per the roadmap. Businesses and other node operators who use the Bitcoin Cash network should check to ensure that their software is compatible with the upgrade. Prepare for the Upgrade Close. Compatible ... The first bullish sign I will be looking to see is breaking up that line, which was starting to form around the $5K area. From the bears’ side: The next support area lies where Bitcoin is now – the $3700 mark. Below, lies the $3500 support area (which is the 2018 all-time low). Failing to hold that level will likely to send Bitcoin to the next support levels: $3300, $3200 and $3000. From ... – MarketWatch $9,096.37 Nov 27 “Time to sell your Bitcoins: Cryptocurrencies success a bubble, Central bankers around the world warn” – Financial Express $9,096.37 Nov 27 “Exit Sign” – Kunstler $9,096.37 Nov 23 “The Guardian view on cryptocurrencies: blockchain of fools” – The Guardian $8,196.15 Nov 23 “10 Reasons Why Bitcoin Will Fail” – ListVerse $8,196.15 ... Bitcoin Optech Newsletter #74. Nov 27, 2019 This week’s newsletter announces a new major version of Bitcoin Core, provides some updates on Bitcoin and LN developer mailing lists, and describes recent developments in the ongoing schnorr/taproot review. Also included are our regular sections with top-voted questions and answers from the Bitcoin StackExchange and notable changes to popular ...
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Bitcoin Halving: Big money comes to #Bitcoin as legendary trader Paul Tudor Jones publicly admits he’s buying! Is the halving a “sell the news” event? $BTC s... Published on Nov 27, 2019 This market trading analysis applies to various exchanges, including Bitmex and Binance. Tackling questions like if Bitcoin can reach 20k again and if we will be seeing a ... Bitcoin is one of the most important inventions in all of human history. For the first time ever, anyone can send or receive any amount of money with anyone ... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin is the first decentralized digital currency. All Bitcoin transactions are docume... Jerry Brito of George Mason University discusses Bitcoin with Judge Andrew Napolitano on Fox Business' Freedom Watch. Aired Nov. 27,2011 at 8pm EST on the Fox Business Network.