Should you Invest more in Cryptocurrencies?

Cryptocurrency is one of the blockchain applications which got popular. But it’s currently falling and a lot of investors and potential investors have few doubts regarding it. One of them recently asked me the question, “So should I be investing more in it or should I cash out everything I’ve invested?”

One of the common things you might have heard from everyone in the cryptocurrency is space is “Invest only if you can afford to lose it.” This particular line was ignored by a lot of people, they took “towards the moon” memes seriously and invested into it thinking that they’d get great returns.

Before I give my advice, I’d like you people to ask yourselves a few questions.

  1. Are you interested in taking more risk?
  2. Are you okay with losing all the invested amount?
  3. Do you have any other opportunities where you can invest the amount?

Are you willing to take more risk?

Cryptocurrency investments are considered to be one of the most volatile investments. Despite of a lot of technical analysis done by cryptocurrency enthusiasts, no one has been able to predict the cryptocurrency market. So you don’t know if it’s going to rise or vanish someday.

This is just like the other high risk, high gain investments, if you’re willing to take more risk then you shall consider investing into it or hold cryptocurrency. If you’re okay with less gains, then you should consider investing your money at different places such as stock market, buying digital assets or starting a business in the local market.

Are you ready to lose all the money you’ve saved?

Like I’ve mentioned above, if you’re ready to lose all the amount you’ve invested then cryptocurrency should be a place where you should consider investing your money.

It’s not investing, because when you invest your money into something, you at least know what you’re getting into. We can call it as a gamble which can either make you very rich or might even cause bankruptcy.

Besides the ups and downs in the market, make sure that you buy a physical cryptocurrency wallet such as the Ledger Nano, as the online exchanges can go down anytime and you won’t even realize when they vanish, get hacked or get compromised. Recently it was reported that Canada-based cryptocurrency exchange QuadrigaCX went missing after the death of the owner.

Do you have better investment opportunities?

If you have investment opportunities where you have complete idea about the thing, company, or person you’re investing your money into then go for it. It can actually be less risky than cryptocurrency. However, the gains also won’t be as lucrative as cryptocurrency. But there’s no guarantee that the market would go up anytime soon.

If you’re already a cryptocurrency investor then you should consider taking a share of the cryptocurrency and cashing it out and invest into something else, that way you won’t lose much on the potential cryptocurrency earnings and won’t lose much if the market does fall even more.

How can you minimize investment risks?

None of the experts can tell you where the market is heading next, If you don’t believe, just consider opening tradingview and you’ll find a lot of cryptocurrency experts showing different charts. One analysis would say that the coin would rise by 30% and the other would say that it might fall by more than 50% and some would say that the price would remain the same.

It means that no one knows where the market is heading, but everyone is trying to make some meaningful information from the pattern, information and other data they have. Don’t trust any of those graphs, think only one thing. Do you believe in bitcoin? Do you think it would come up someday? And are you willing to take the risk if it falls down? If the answer to the three questions I’ve asked before this sentence is a “YES” then you should consider investing into it or holding it.

However, a key way to minimize your loss would be, diversification. Find out different investment opportunities, invest your money equally or the projects which look more favorable, matches your risk taking abilities and invest into them. That’s the only way you’ll be able to minimize losses, if at all they happen.

Will Dubai be the first blockchain powered city in 2020?

When we think of Dubai, we believe of Arab billionaire lifestyles, 6-star resorts, and awe-inspiring skyscrapers. But were you aware that programs are set up to turn Dubai into the very first blockchain-powered town by 2020?

The Director-General of Smart Dubai, Dr. Aisha Bint Butti Bin Bishr, considers that town is in prime position to establish itself as a blockchain and crypto epicenter which can develop into a fully-integrated blockchain bright city within another few years.

Blockchain Smart City in the UAE

Smart Dubai will be the organizers of this worldwide Blockchain Challenge, and this will be a blockchain-related contest geared to locating the very advanced blockchain startups from throughout the globe and to lure them to function in Dubai.

Dr. Aisha Bint Butti Bin Bishr had some very optimistic words to state in relation to Dubai’s possibility of crypto-related companies:

Dubai has established itself, and in record time, as a global destination for innovators and entrepreneurs in the Blockchain industry. Guided by the vision of our leadership, the emirate has become synonymous with bravely embracing avant-garde technologies and utilizing them to create an advanced, connected and seamless urban experience for its residents and visitors.

Also Read: Chilean Treasury releases Blockchain Platform to process public payments

Attracting some of the most recent and most advanced blockchain startups into Dubai is a part of this bigger plan known as the Dubai Blockchain Strategy 2020.

The strategy was originally declared by Smart Dubai and the Dubai Future Foundation earlier this season and is determined by making Dubai the very first ever blockchain-powered town from 2020.

Global Dubai Blockchain Challenge

The next round of this Worldwide Blockchain Challenge will be Happening in the Future Blockchain Summit on April 2-3, 2019, in the Dubai World Trade Center. The contest is a joint alliance involving Smart Dubai and Dubai Future Accelerators (DFA), which is an initiative of the Dubai Future Foundation (DFF).

Successful blockchain-related startups who pass the preliminary phases of the contest will be encouraged to train in Dubai together with all the DFA and will get an introduction into the UAE culture. The 3 winners of this contest will even get the chance to market and execute their services and products in Dubai. The winner of this contest will get $20,000 in money, whereas the second and third place will get $15,000 and $10,000 respectively.

The 2018 Future Dubai Blockchain Summit attracted over 8,000 attendees, 130 crypto-related startups and more than 140 speakers, also this year’s event promises the same.

Also Read: Overstock will be the first major firm to pay state taxes in Bitcoin

Even though it appears unlikely that Dubai is now the first blockchain-powered town by 2020, their ambition and economic might will give them an edge in their pursuit of blockchain technology invention.

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Chilean Treasury releases Blockchain Platform to process public payments

The Chilean General Treasury of the Republic (TGR), that manages taxation set in the nation, has established a blockchain platform to process payments, according to a press release reported on Dec. 19.

TGR, a prosperous institution under the Ministry of Finance allegedly first met together with the Digital Government Division of the Ministry General Secretariat of the Presidency of Chile to Go over the pilot in October 2018. At that moment, officials announced they’d make a blockchain platform to link taxpayers, fiscal intermediaries, and providers.

According to the December announcement, the pilot to the stage has been established. The platform shops transactions which are processed by midsize public associations — such tax obligations or patent prices — on the blockchain. Before documenting the trade, all nodes engaging in the procedure are obliged to accept it.

Also Read: Irish Govt approves Anti-Money laundering bill affecting cryptocurrency

TGR reports that it expects a frequent database utilized both by authorities, banks and institutions can help eliminate data postings, decrease time spent on obligations, in addition, to cut operational expenses, while providing the essential degree of protection for private data.

The government is researching blockchain in many locations, for example, power and finance industries. Back in April, Chile’s federal energy regulation firm declared the launching of a job depending on the Ethereum (ETH) blockchain to capture data in the country’s energy industry.

The Chilean Parliament is currently analyzing a bill on blockchain adoption which was introduced by local MPs in October. The proposition indicates carrying out research on the benefits of blockchain-based energy and security options.

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EXCLUSIVE: Indian Police warn Public against Investing in Cryptocurrencies

The authorities of this Indian state of Jammu and Kashmir have issued a public announcement, warning the general public against spending in cryptocurrencies, neighborhood company information each day the Company Standard reported on Jan. 2.

Police allegedly warned the public against the”increased risk” of investments such as Bitcoin (BTC) and educated investors who cryptocurrencies aren’t sanctioned by the authorities. The Business Standard lent the division’s inspector general as stating:

“The public is advised to not earn any sort of investment from cryptocurrencies, virtual monies like Bitcoin since there’s a real and increased risk related to them.”

The company general further said the crypto market may experience an “abrupt and prolonged crash, exposing investors especially retail customers who stand to lose their hard-won cash.”

Also Read: DMM.com to cease crypto mining business

India currently enforces a ban on banks servicing cryptocurrency-related operations after a circular issued from the Reserve Bank of India (RBI). The tough line against electronic assets has caused the departure of numerous regional businesses along with also a challenge from the Indian Supreme Court.

Before this week,” Pon Radhakrishnan, the Minister of State at the Ministry of Finance and Ministry of Shipping, stated that the government is coming cryptocurrency law with a warning.

Radhakrishnan said that the absence of a”globally acceptable solution” supposed lawmakers was not likely to issue formal figurines in the brief term.

The RBI announced that it’s postponed strategies to develop a federal cryptocurrency or even “crypto-rupee.” India’s central bank initially declared it had been contemplating a central bank electronic money (CBDC) in April 2018, going so far as to launch an interdepartmental team to look into the possible benefits of a CBDC.

Also Read: New York Assemblyman declares creation of ‘First’ US Crypto Task Force

The findings of this group have never been revealed, and also the Hindu Business Line quotes an unidentified source as saying,

“The government does not need the electronic money anymore. It thinks it’s too premature to think about digital money.”

Abkhazia Government cuts off the power of 15 Crypto Mining Farms

The authorities of the Republic of Abkhazia has cut electricity to a cryptocurrency mining farm because of power concerns, state electrical utility Chernomorenergo RUE declared at a Facebook place on Dec. 31.

As per the statement,

Chernomorenergo cut electricity to 15 facilities with an entire capacity of 8,950 kilowatt-hours (kWh), which is supposedly equivalent to the energy consumption of 1,800 families. The cuts have been created as part of a collection of”temporary steps to restrict the usage of power by particular types of readers.” Chernomorenergo also notes that, after the reductions, owners of these mining farms revealed understanding and cooperation.

Regulators worldwide have voiced worries within the cryptocurrency mining business’s power consumption. In November, Norway finished power subsidies for Bitcoin (BTC) mining centers. Parliamentary Representative for the Socialist Left Party (SV) Lars Haltbrekken said that “Norway can’t continue to offer substantial tax incentives to the most filthy type of cryptocurrency output [Bitcoin] takes a great deal of energy and creates large greenhouse gas emissions internationally.”

Also Read: Fortnite Merchandise begins accepting Monero as a Payment method

From the United States, the Chelan County Public Utility District of the nation of Washington suggested a new power pricing arrangement for cryptocurrency miners intended to reduce the price of increased energy demand. The district”is Shifting (the speed arrangement ) in a manner that catches the price and shields the investment for those clients which are currently here and spent heavily in our system”

Since Cointelegraph reported at October, Bitcoin miner earnings for its first six months of 2018 had exceeded outcomes in 2017, but miners themselves saw small gain, based on weekly crypto socket Diar. At the time, the fees and rewards for BTC miners had reached $4.7 billion in the first 3 quarters of 2018, approximately $1.4 billion over the earnings in most of 2017. Miners allegedly still gained 54,000 Bitcoin monthly.

Also Read: Iran says Telegram Crypto Aspirations an Act against National Security

In December, Chinese miners allegedly became the largest short vendors of Bitcoin both locally and globally, after a higher variety of hedging operations at the present bear market. The acute cryptocurrency market decrease reportedly caused brand new creation miners to begin hedging their coins to prevent market risks

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Samsung wants UK Trademark for Crypto Wallet

South Korean electronics giant Samsung is allegedly Looking for a Signature at the United Kingdom to Get a cryptocurrency wallet, according to a Dec. 27 filing Together with All the U.K. Intellectual Property Office.

From the “Courses and conditions” part of this program, Samsung cites such advancements as “Computer applications for use for a cryptocurrency pocket ; Pc applications such as cryptocurrency payment and transfer utilizing blockchain technologies; Computer software software for smartphones, specifically, applications to permit users to move cryptocurrency predicated on blockchain technologies and cover via 3rd party’s application program.”

The program follows rumors — then refuted from Samsung — which the firm has plans to incorporate a cryptocurrency chilly pocket on its own Galaxy S10 smartphone. Samsung registered three European Union signature software for blockchain- and – cryptocurrency- related applications on Dec. 10.

Also Read: Japanese FSA receives 190 Cryptocurrency Exchange License Apps

Earlier in December, Cointelegraph reported that important smartphone maker HTC incorporated decentralized browser Brave about the HTC Exodus 1 telephone, “the very first native blockchain telephone” together with support for a number of blockchains, such as Bitcoin (BTC) and also Ethereum (ETH) networks.

Last month, blockchain-focused electronics provider SIRIN Labs launched its initial blockchain-based smartphone named FINNEY. According to both Android and SIRIN’s open-source functioning platform, SIRIN OS, the FINNEY telephone delivers a cold-storage crypto wallet and gives encrypted communications.

In October, Samsung’s production wing, Samsung Foundry, launched a brand new manufacturing process of its own 7-nanometer (nm) Low Power Plus (7LPP) procedure node, which could reduce its energy consumption by around 50 percent. The processor may supposedly have positive consequences for crypto miners using Samsung’s hardware because energy prices end up being a crucial element in the business’s profitability.

Blockchain will survive a Cryptocurrency Apocalypse

One year before, the concept that Bitcoin and cryptocurrencies were planning to change the entire world has become the consensus notion. Now, not too much.

The electronic money currently trades under $5,000. It is 77 percent off its high near $20,000 in January. Additional cryptos are falling, also.

There’s a catalyst. Individuals who follow electronic tokens attribute the hard disk of Bitcoin Cash. The bigger, namesake cryptocurrency is a branch of Bitcoin appropriate. But the past week, its programmers and miners couldn’t agree about the future of this electronic token. They decided to divide into two rival cryptos, Bitcoin ABC and Bitcoin Satoshi’s Vision (SV).

If this sounds to be an inherently bad idea, it’s. Bitcoin is an open source project. Programmers are free to replicate the foundation code and make cryptocurrencies at will. Plus they have. As of November 2018, you will find 2,502 cryptocurrencies, as per a record compiled at Investing.com. The cumulative market capitalization of those tokens is $142 billion, but it was considerably greater.

Also Read: As Bitcoin price drops, industry startups are forced to cut back

Forgive me. I am burying the lede. The issue with Bitcoin and cryptocurrency generally speaking isn’t working. It is that programmers shouldn’t have the ability to make money, whatsoever.

I started composing in January which cryptocurrencies were in which the net was at the dot-com age, also in February that the majority of these thousands of cryptos were led to zero. At the moment, it wasn’t a popular place. I prefaced my opinion two things every possible investor should know about”me too” digital coins: there’s not any use case worse, it is unlikely they could possibly represent a store of value.

Remember, many things can signify a store of value. Collectibles like artwork, baseball cards, and signed memorabilia immediately come to mind. Cryptocurrencies, at least the huge majority of these, will not be.

Bill Harris, a former chief executive officer in PayPal, made headlines in August when he composed at Recode:

“OK, I will say it Bitcoin is a scam.”

Harris asserts Bitcoin is a pump-and-dump strategy, in which promoters push the value of investments that are questionable with hype and constant advocacy. Since the cost surges and excitement is best, everything, leaving unsuspecting investors holding worthless securities.

Ironically, I’ve made this instance about so-called choice coins. Purchasing a First Coin Offering is similar to speculating in an extremely promoted junior gold mining firm where the possibility of locating real gold is nil. There’ll be cost volatility and a good deal of claims made. However, in the long run, the investment is useless. Plus it was always likely to be unworthy.

However, Harris is conflating Bitcoin with other coins. That’s a mistake, I think.

Pure digital money is a fantastic idea. It takes power away from the central power. The issue is oversupply. There are now too many coins and also many charlatans.

Also Read: Litecoin Foundation to sponsor UFC Title Fight in a bid to increase crypto adoption

This may pass. The Securities and Exchange Commission will round up the fraudsters. Their fake investment assumptions will cause a fantastic reckoning. Many ICOs goes to zero since they’ll be not able to pass the evaluation of valid government supervision.

That may leave Bitcoin as among the past digital coins status. When that happens, my guess is that it will finally be more precious than it is now. But, there’s loads of annoyance ahead as pump-and-dump approaches are found, and coins fall — souring the mood for each of their peers. The drama for stock investors is blockchain, Bitcoin’s cryptographic infrastructure.

In the end, this electronic ledger process will find its way to international supply chains and fiscal services since it removes middling trusted brokers for affirmation.

Blockchain will create legions of accountants, attorneys and back office employees redundant.

IDC, a worldwide data technology research company, sees blockchain as part of a bigger digital transformation. The change may be worth $7 billion by 2022.

Microsoft has been an early convert to the energy of blockchain. It started working with fiscal services start-ups in 2016. More lately, the Redmond, Wash., software giant has been touting the scalability of its Azure cloud computing platform to operate ledger systems. The business is working on a blockchain-as-a-service tool.

Shares trade at 20x forward earnings. The market capitalization has come down to $780 billion at the previous leg of the technology wreck. The stock could be a terrific pickup in the low $90s.

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Bank of America discloses New Blockchain Patent targeting cash handling

Bank of America (BoA) needs to patent a method utilizing blockchain technologies to boost money handling, a new program printed Dec. 25 supports.

Originally filed in June 2017, the patent references “banking systems controlled by information bearing documents ”

“Aspects of this disclosure link to deploying, configuring, and using cash managing devices to supply dynamic and flexible operating purposes,” its subjective notes.

Also Read: Ex-CIA Official says Blockchain is ‘Biggest Threat’ to Future of US National Security

BoA clarifies there stay communication difficulties in facets of money managing responsibilities across banks’ big surgeries and indicates blockchain might help facilitate these.

“Money handling devices might be utilised in managing centers and other places to provide a variety of purposes, like easing cash deposits and withdrawals,” the patent record persists.

“In several cases, but it could be tricky to incorporate such money managing devices with specialized infrastructure which supports banking operations and other operations while also maximizing the efficient and effective technical operations of the money handling devices and assorted related systems.”

Also Read: Morgan Creek’s digital branch founder Anthony Pompliano says Pension Funds should buy Bitcoin

BoA has sought to measure its attempts to overthrow intellectual property in the blockchain world over a previous couple of decades.

In November, the lender was demonstrated to possess the maximum such blockchain patents in over 50, amid interest as to if it would place all to utilize in the long run.

While eager on the blockchain, BoA has embraced an extremely risk-averse stance on cryptocurrency, becoming among the few associations to enact bans on related fiat purchases by customers earlier this season.

Source

Ex-CIA Official says Blockchain is ‘Biggest Threat’ to Future of US National Security

Andrew Bustamante, allegedly a former CIA intelligence officer, has promised blockchain is “super strong stuff” that signifies a hazard to America’s national security. Bustamante, who specializes in publishing life-hacks according to his understanding of espionage, made his hands on opinions at a subreddit thread Dec. 22.

Bustamante can also be allegedly a United States Air Force veteran and Fortune 10 corporate adviser. He brought up blockchain in response to some query at a subreddit ribbon, on information aggregation website Reddit, devoted to Bustamante’s”Regular Espionage” — exactly what he dubs an”integrated instruction and training stage which educates global espionage strategies to benefit regular life.”

1 Redditor had requested Bustamante that which he believed represents”the greatest danger to America [sic] federal security in the next few years?” Giving several top possible replies such as “Russia,” “climate change,” “Iran” or “North Korea?” To which Bustamante responded:

“Block-chain tech [sic.] No joke. Super strong stuff, and also the first one to work out how to hack on it, manipulate it or deliver down it.”

While the ex-CIA officer didn’t further elaborate on his opinions, he confessed another Redditor’s answer, who requested him to get clarification in respect to blockchain versus improvements in quantum computing — to that Bustamante reacted with”fair stage!!!”

Bustamante’s exclamation spawned a debate of this risk that quantum computing will”forever change” the cryptographic protection which underpins blockchain — hence specifically attributing Bustamante’s”bring it down” into a debate along this vein.

Also Read: Morgan Creek’s digital branch founder Anthony Pompliano says Pension Funds should buy Bitcoin

Others attempted to extrapolate unique meanings depending on the scant data given in Bustamante’s remark.

1 Redditor implied his opinions could refer to”the persistent likelihood of untraceable, anonymous trades which can occur” on blockchains as being a single kind of federal safety threat supposedly posed by the tech. Still, another pointed into the possibility of “falsified” information — i.e. hijacking the blockchain for the aims of disinformation — that would supposedly become even more pernicious when kept within an immutable blockchain-based system.

Especially, the final time blockchain, alleged geopolitical machinations, and the intelligence community created joint headlines was once the U.S. Department of Justice (DoJ) billed seven officers out of Russia’s Main Intelligence Directorate (GRU) with crypto-funded worldwide hacking and relevant disinformation surgeries this October.

Also Read: UAE to become the main destination for Blockchain-Related Businesses in 2019, Experts says

Back in July, the DoJ had billed twelve people from two components of the GRU with utilizing crypto — supposedly either mined or got from”other methods” — to fuel attempts to hack into computer networks connected with the Democratic Party, Hillary Clinton’s presidential campaign and U.S. elections-related country boards and tech companies.

Exclusive: UAE to become main destination for Blockchain-Related Businesses in 2019, Experts says

The United Arab Emirates (UAE) is seeking to combine the list of top destinations for blockchain-related companies in 2019 because of promising new crypto legislation. Experts commented about the situation into the UAE’s daily paper The National on Monday, Dec. 24.

Since the UAE has declared that a new legal framework for first coin offerings (ICO) and succeeded about potential law for crypto exchanges, pros see a potential for the nation to combine Malta and Gibraltar as a favorite crypto destination.

Hans Fraikin, CEO of Libra Project — a blockchain-driven effect investing application — told

“The National that the UAE has been perfectly positioned for a worldwide pioneer at the ICO space. In addition, he thinks that the nation will develop into the most promising authority for tokenized startups as a result of its stance on ICOs.”

Also Read: SBI Holdings’ Vctrade beings accepting Bitcoin, Ethereum, Ripple Deposits

Andrea Bonaceto, CEO of Eterna Capital — a fund management company in London — also considers that the UAE could be”in the forefront of this sector” because of its government’s attempts to modernize the financial industry.

But, both experts think that the UAE must cultivate its own investors and developers to guarantee a sustainable potential of their crypto industry over the country.

Since Cointelegraph formerly reported, the UAE’s financial regulator disclosed in mid-December a new policy on ICOs will likely be released in ancient 2019. The Securities and Commodities Authority of the Nation will allegedly work together with the Abu Dhabi Securities Exchange and Dubai Financial Market to create a stage for ICO token trading.

Concurrently, the UAE is also growing several cryptocurrency and blockchain jobs on a country level.

Also Read: Increase in Blockchain revolution despite crypto crash

As an example, the nation partnered with neighboring Saudi Arabia to create a cryptocurrency approved in cross-border trades. In addition, the Advisory Council of the United Arab Emirates Banks Federation has discussed using blockchain in its member banks to enhance Know Your Client (KYC) processes.