Business model of the future
During the 2017 hype, I sold tokens for my time (for advice and training) by launching trading on them on the Waves platform.
The price in bitcoins naturally increased with demand. Someone even managed to speculate having received + 40% to investments. It was funny.
Now, in the era of global depreciation and loss of benchmarks, the "creative potential" of people comes to the fore. Only the market and its demand can determine the value of creativity. How to form it?
"Creative people" in their social accounts are already offering to do something that they can do best, completely free of charge. Thus, they monitor the demand for their services and quickly understand how much their talents are in demand. Do you need to learn something else right now or you can not fuss.
If the service is in demand, then a demand queue is formed. With a long queue, there will be those who want to pay for the first place in it. And as soon as the number of such “firsts” begins to form the “second” stage, the price will start to grow in the currency that the performer himself will determine and on the platform where it is convenient for him, and not where the aggregator or banker says.
Yes, we are scared that a "mousetrap" is usually hidden behind the free, but this is only for cases when we are obsessively offered what we do not need, and we ourselves do not really need it. Understanding excess needs is a critical skill in our complex consumer world.
During the 2017 hype, I sold tokens for my time (for advice and training) by launching trading on them on the Waves platform.
The price in bitcoins naturally increased with demand. Someone even managed to speculate having received + 40% to investments. It was funny.
Now, in the era of global depreciation and loss of benchmarks, the "creative potential" of people comes to the fore. Only the market and its demand can determine the value of creativity. How to form it?
"Creative people" in their social accounts are already offering to do something that they can do best, completely free of charge. Thus, they monitor the demand for their services and quickly understand how much their talents are in demand. Do you need to learn something else right now or you can not fuss.
If the service is in demand, then a demand queue is formed. With a long queue, there will be those who want to pay for the first place in it. And as soon as the number of such “firsts” begins to form the “second” stage, the price will start to grow in the currency that the performer himself will determine and on the platform where it is convenient for him, and not where the aggregator or banker says.
Yes, we are scared that a "mousetrap" is usually hidden behind the free, but this is only for cases when we are obsessively offered what we do not need, and we ourselves do not really need it. Understanding excess needs is a critical skill in our complex consumer world.
Huawei introduced a smartphone with built-in support for the digital yuan
Chinese electronics manufacturer Huawei has unveiled a new smartphone with a built-in hardware wallet to work with the digital yuan. This was reported by The Block with reference to the company's Friday press conference.
Among other things, the Huawei Mate 40 model was presented. Huawei's General Director of Consumer Products Yu Zhengdong said that this is the first smartphone adapted at the hardware level to work with the digital currency of the People's Bank of China.
On the social network Weibo, the company writes that the Mate40 will provide security when working with the digital yuan and will allow offline transactions. Yu noted that this development was the next step in using the digital yuan on mobile devices.
Huawei founder Ren Zhenfei is a strong supporter of the digital yuan idea. In July 2019, commenting on the news about the development of the stablecoin Libra, he said: “China can issue such a currency itself. Why wait for others to release it? The country will always be stronger than a single Internet company. "
In November of the same year, it became known about the official cooperation of Huawei with the Digital Currency Research Institute of the People's Bank of China. It was supposed to be aimed at researching financial technologies. The participants then refused to disclose additional details.
Chinese electronics manufacturer Huawei has unveiled a new smartphone with a built-in hardware wallet to work with the digital yuan. This was reported by The Block with reference to the company's Friday press conference.
Among other things, the Huawei Mate 40 model was presented. Huawei's General Director of Consumer Products Yu Zhengdong said that this is the first smartphone adapted at the hardware level to work with the digital currency of the People's Bank of China.
On the social network Weibo, the company writes that the Mate40 will provide security when working with the digital yuan and will allow offline transactions. Yu noted that this development was the next step in using the digital yuan on mobile devices.
Huawei founder Ren Zhenfei is a strong supporter of the digital yuan idea. In July 2019, commenting on the news about the development of the stablecoin Libra, he said: “China can issue such a currency itself. Why wait for others to release it? The country will always be stronger than a single Internet company. "
In November of the same year, it became known about the official cooperation of Huawei with the Digital Currency Research Institute of the People's Bank of China. It was supposed to be aimed at researching financial technologies. The participants then refused to disclose additional details.
JP Morgan begins to recognize crypto
A week ago, back in the report, the bank wrote:
Bitcoin is overbought, very soon its price may decrease, analysts of the American investment bank JPMorgan warned. Over the past ten days, BTC has risen in price by 15%, to $ 13,000, and traders are likely to start taking profits soon.
But on a longer horizon, the value of BTC will increase from current values two to three times. This will happen if the cryptocurrency wins a small part of the market from gold, analysts at JPMorgan believe.
In their opinion, there are two reasons for this. Firstly, the cryptocurrency is generally accepted by the younger generation. Now its influence on the financial market is insignificant, but over time it will grow.
Secondly, bitcoin, unlike gold, can be used not only as a store of value. Cryptocurrency acts as a payment system, and in the future more and more market participants will accept BTC for payment, which will increase its applicability and cost.
The specialists noted that one of the latest drivers of growth in the value of bitcoin was the announcement of PayPal. The payment system announced that it will soon add cryptocurrency support. Users will be able to buy, sell and store Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. (rbc)
A week ago, back in the report, the bank wrote:
Bitcoin is overbought, very soon its price may decrease, analysts of the American investment bank JPMorgan warned. Over the past ten days, BTC has risen in price by 15%, to $ 13,000, and traders are likely to start taking profits soon.
But on a longer horizon, the value of BTC will increase from current values two to three times. This will happen if the cryptocurrency wins a small part of the market from gold, analysts at JPMorgan believe.
In their opinion, there are two reasons for this. Firstly, the cryptocurrency is generally accepted by the younger generation. Now its influence on the financial market is insignificant, but over time it will grow.
Secondly, bitcoin, unlike gold, can be used not only as a store of value. Cryptocurrency acts as a payment system, and in the future more and more market participants will accept BTC for payment, which will increase its applicability and cost.
The specialists noted that one of the latest drivers of growth in the value of bitcoin was the announcement of PayPal. The payment system announced that it will soon add cryptocurrency support. Users will be able to buy, sell and store Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. (rbc)
When will US lawmakers decide on a second US bailout?
Negotiations on a new coronavirus-related stimulus package are still ongoing, with Americans awaiting a second round of direct bailouts. House Speaker Nancy Pelosi, President Donald Trump and Senate Majority Leader Mitch McConnell have their own ideas about when the next direct-pay-to-Americans stimulus package will be passed.
US lawmakers are continually discussing the next stimulus package to help Americans cope with the economic crisis caused by the coronavirus pandemic. Americans have been waiting for a second round of stimulus checks for $ 1200 since the first round was approved under the CARES Act ('The Coronavirus Aid, Relief, and Economic Security Act').
The Speaker of the House of Representatives has proposed to revise the HEROES Act ('Health and Economic Recovery Omnibus Emergency Solutions Act') by $ 2.2 trillion, while the White House has made a counter offer of $ 1.8 trillion. Pelosi and Treasury Secretary Stephen Mnuchin discuss the terms of the next coronavirus-related economic package almost every day. Although both agree to the issuance of a second check to the Americans, they still cannot agree on some issues.
Many Americans live in poverty without knowing when they will receive new direct payments. President Trump has made some bold promises as to when he can push through the next stimulus package. He told reporters about this on Friday: "Immediately after the elections, we will have a huge package of stimulating measures."
Negotiations on a new coronavirus-related stimulus package are still ongoing, with Americans awaiting a second round of direct bailouts. House Speaker Nancy Pelosi, President Donald Trump and Senate Majority Leader Mitch McConnell have their own ideas about when the next direct-pay-to-Americans stimulus package will be passed.
US lawmakers are continually discussing the next stimulus package to help Americans cope with the economic crisis caused by the coronavirus pandemic. Americans have been waiting for a second round of stimulus checks for $ 1200 since the first round was approved under the CARES Act ('The Coronavirus Aid, Relief, and Economic Security Act').
The Speaker of the House of Representatives has proposed to revise the HEROES Act ('Health and Economic Recovery Omnibus Emergency Solutions Act') by $ 2.2 trillion, while the White House has made a counter offer of $ 1.8 trillion. Pelosi and Treasury Secretary Stephen Mnuchin discuss the terms of the next coronavirus-related economic package almost every day. Although both agree to the issuance of a second check to the Americans, they still cannot agree on some issues.
Many Americans live in poverty without knowing when they will receive new direct payments. President Trump has made some bold promises as to when he can push through the next stimulus package. He told reporters about this on Friday: "Immediately after the elections, we will have a huge package of stimulating measures."
DeFi market growth drivers are professional investors
The DeFi decentralized finance market is expanding thanks to professional investors. This is the conclusion reached by analysts at Chaianlysis.
At the same time, the overwhelming majority of participants in this ecosystem are newcomers. Large investors hold assets on the market in the amount of $ 10,000 or more. However, the largest number of users own tokens for amounts below this level, the researchers emphasized.
The ChaInalysis team found that almost 50% of the funds sent in the DeFi market are from $ 100,000.
The analyst report says:
“The data shows that the majority of people sending funds to the DeFi market are retail users. The vast majority of transfers are made for amounts of at least $ 10,000. Nevertheless, professionals manage the market, and most of the funds sent to the market are transfers of $ 10,000 or more. "
Currently, the capitalization of the decentralized finance market is $ 11 billion. According to the DeFiPulse.com service, UniSwap, Maker and WBTC are ranked first, second and third in the ranking of the largest crypto projects in the DeFi market.
In 2020, the rapid development of this ecosystem began. Over the past five months alone, the value of tokens has grown by about 11 times.
Many experts believe that the DeFi market will revolutionize not only the cryptosphere but also the global economy. Already now, we can say with confidence that this is not a "bubble", but a promising segment of the financial industry.
The DeFi decentralized finance market is expanding thanks to professional investors. This is the conclusion reached by analysts at Chaianlysis.
At the same time, the overwhelming majority of participants in this ecosystem are newcomers. Large investors hold assets on the market in the amount of $ 10,000 or more. However, the largest number of users own tokens for amounts below this level, the researchers emphasized.
The ChaInalysis team found that almost 50% of the funds sent in the DeFi market are from $ 100,000.
The analyst report says:
“The data shows that the majority of people sending funds to the DeFi market are retail users. The vast majority of transfers are made for amounts of at least $ 10,000. Nevertheless, professionals manage the market, and most of the funds sent to the market are transfers of $ 10,000 or more. "
Currently, the capitalization of the decentralized finance market is $ 11 billion. According to the DeFiPulse.com service, UniSwap, Maker and WBTC are ranked first, second and third in the ranking of the largest crypto projects in the DeFi market.
In 2020, the rapid development of this ecosystem began. Over the past five months alone, the value of tokens has grown by about 11 times.
Many experts believe that the DeFi market will revolutionize not only the cryptosphere but also the global economy. Already now, we can say with confidence that this is not a "bubble", but a promising segment of the financial industry.
Bitcoin grows - so does the fear of lost profits
The bullish rally of bitcoin continues, which reached a new high in 2020 at $ 15,950. The market is gradually being dominated by the fear of lost profits - FOMO ('fear of missing out').
Over the past 24 hours, the price of bitcoin has grown by more than 10% and surpassed the $ 15,000 level for the first time since January 2018.
According to Alternative, the Fear and Greed Index is currently in the "extreme greed" zone at 90. It was last so high in June 2019, when Bitcoin hit an annual high of just under $ 14,000.
Experienced investors such as billionaire and former hedge fund manager Mike Novogratz advise never to sell assets out of emotion.
“The hardest part in a bull market is sitting out to the end. My buddy Paul Jones calls it 'the pain of profit'. This is the BTC bull market. Your task is to sit back and not listen to anyone. "
The bullish rally of bitcoin continues, which reached a new high in 2020 at $ 15,950. The market is gradually being dominated by the fear of lost profits - FOMO ('fear of missing out').
Over the past 24 hours, the price of bitcoin has grown by more than 10% and surpassed the $ 15,000 level for the first time since January 2018.
According to Alternative, the Fear and Greed Index is currently in the "extreme greed" zone at 90. It was last so high in June 2019, when Bitcoin hit an annual high of just under $ 14,000.
Experienced investors such as billionaire and former hedge fund manager Mike Novogratz advise never to sell assets out of emotion.
“The hardest part in a bull market is sitting out to the end. My buddy Paul Jones calls it 'the pain of profit'. This is the BTC bull market. Your task is to sit back and not listen to anyone. "
Capitalization of DeFi-project UniSwap approached $ 3 billion
UniSwap (UNI) continues to lead the list of DeFi projects. Its capitalization now exceeds $ 2.8 billion, according to data from the DeFiPulse .com service.
The closest competitor to UniSwap is the Maker project, which costs about $ 2.18 billion. Analysts predict that UNI's capitalization will exceed $ 3 billion by the beginning of next week.
The rapid growth in the value of UniSwap was observed last month. At the end of September, the capitalization of the project was just over $ 2.1 billion, and by the end of October it had grown to $ 2.7 billion.
Moreover, if in September the cost of UNI tokens fell several times (at a minimum it was about $ 400 million), then in October it steadily increased.
The UniSwap protocol was launched on November 2, 2018. Its founder Hayden Adams recently thanked investors and announced a further increase in UNI's capitalization.
At the time of publication of this material, the UNI token was trading at around $ 2.57. Now the growth has slowed down against the background of a sharp strengthening of bitcoin.
Recall that BTC soared this week to a maximum since January 2018, exceeding $ 15,000 in price. Experts believe that there is an inverse correlation between the largest cryptocurrency and DeFi tokens.
UNI holders looking for long-term coin storage will benefit from the imminent fall in BTC. Moreover, the correction of bitcoin has already begun, the cryptocurrency fell in price from $ 15,800 to $ 15,300 last Friday, November 6.
UniSwap (UNI) continues to lead the list of DeFi projects. Its capitalization now exceeds $ 2.8 billion, according to data from the DeFiPulse .com service.
The closest competitor to UniSwap is the Maker project, which costs about $ 2.18 billion. Analysts predict that UNI's capitalization will exceed $ 3 billion by the beginning of next week.
The rapid growth in the value of UniSwap was observed last month. At the end of September, the capitalization of the project was just over $ 2.1 billion, and by the end of October it had grown to $ 2.7 billion.
Moreover, if in September the cost of UNI tokens fell several times (at a minimum it was about $ 400 million), then in October it steadily increased.
The UniSwap protocol was launched on November 2, 2018. Its founder Hayden Adams recently thanked investors and announced a further increase in UNI's capitalization.
At the time of publication of this material, the UNI token was trading at around $ 2.57. Now the growth has slowed down against the background of a sharp strengthening of bitcoin.
Recall that BTC soared this week to a maximum since January 2018, exceeding $ 15,000 in price. Experts believe that there is an inverse correlation between the largest cryptocurrency and DeFi tokens.
UNI holders looking for long-term coin storage will benefit from the imminent fall in BTC. Moreover, the correction of bitcoin has already begun, the cryptocurrency fell in price from $ 15,800 to $ 15,300 last Friday, November 6.
The first crypto platform in the Netherlands. Crypto exchange BLOX has been granted permission to operate in the Netherlands, making it the first platform to do so since the country enacted the 5th European Union Anti-Money Laundering Directive, or AMLD5. Blox BV, listed as an approved cryptographic service provider, is now advertising registration with De Nederlandsche Bank NV, the central bank of the Netherlands.
More than 1.5 million Bitcoin Cash transferred to exchanges before the hard fork
In anticipation of the expected November 15 hard fork, Bitcoin Cash (BCH) holders are transferring their coins to exchanges.
According to Chainalysis, in just the last week, about $ 140 million of BCH was transferred to the exchanges, and in November - $ 300 million. Since the beginning of the month, more than 1.56 million BCH have been transferred to the exchanges.
Some analysts have suggested that a significant inflow of funds may indicate that investors are looking to sell Bitcoin Cash before the fork, however, data from Chainalysis show that trading activity in the BCH market has remained largely unchanged since late October.
In August, Amori Sechet, lead developer of Bitcoin ABC, the popular Bitcoin Cash (BCH) implementation, posted a controversial update that users must activate by November 15th. The update includes a feature called coinbase-rule. The new rule rejects all mined blocks that do not transfer 8% of the reward to the address to fund Bitcoin Cash developers.
The developers of the alternative BCH implementation - Bitcoin Cash Node (BCHN) - refused to accept the update. BCHN has accounted for 83.6% of all mined blocks on the Bitcoin Cash network over the past seven days.
At the same time, the value of Bitcoin Cash to Bitcoin has reached new record lows in recent days.
In anticipation of the expected November 15 hard fork, Bitcoin Cash (BCH) holders are transferring their coins to exchanges.
According to Chainalysis, in just the last week, about $ 140 million of BCH was transferred to the exchanges, and in November - $ 300 million. Since the beginning of the month, more than 1.56 million BCH have been transferred to the exchanges.
Some analysts have suggested that a significant inflow of funds may indicate that investors are looking to sell Bitcoin Cash before the fork, however, data from Chainalysis show that trading activity in the BCH market has remained largely unchanged since late October.
In August, Amori Sechet, lead developer of Bitcoin ABC, the popular Bitcoin Cash (BCH) implementation, posted a controversial update that users must activate by November 15th. The update includes a feature called coinbase-rule. The new rule rejects all mined blocks that do not transfer 8% of the reward to the address to fund Bitcoin Cash developers.
The developers of the alternative BCH implementation - Bitcoin Cash Node (BCHN) - refused to accept the update. BCHN has accounted for 83.6% of all mined blocks on the Bitcoin Cash network over the past seven days.
At the same time, the value of Bitcoin Cash to Bitcoin has reached new record lows in recent days.
Ethereum prices have dropped. Is it worth buying cryptocurrency
Altcoin price is in the stage of correction, however analysts are confident that growth will continue in the near future
On the evening of November 14, the average Ethereum rate fell below $ 453. At the moment, the largest altcoin by capitalization is trading at around $ 459, over the past day it has fallen in price by 1.6%. NewsBTC analyst Ayash Jindal explained that the asset's price is correcting after peaking around $ 478.
The expert warned that if there is a breakdown below the support levels of $ 451 and $ 450, the correction may intensify. In this case, important support will be $ 440, but if it fails, the price may sharply drop to $ 425. To continue the upward trend, the cryptocurrency now needs to gain a foothold above the $ 450 level. In this case, he has a chance to retest the resistance at $ 465.
Jindal noted that the first major resistance is at $ 470, after which the price is likely to move towards the $ 478 mark. In this case, perhaps the next targets will be $ 495 and $ 500.
Vladislav Antonov, analyst at IAC Alpari, explained that given the current situation with altcoins in pairs with bitcoin, the growth of the ether rate against the American currency is limited. No matter how buyers try to raise the price of ether above $ 500, sales in the ETH / BTC pair completely neutralize the growth of the ETH / USD pair, the expert emphasized.
“Since the beginning of September, a bearish trend has emerged in the ETH / BTC pair. Ether fell in price by 34%, to 0.0266 BTC. Throughout the market, capital flows from altcoins to bitcoin, as it is more stable and brings more profit to investors, ”the expert explained.
According to him, the target for Ethereum is $ 1105, but buyers will not have time to raise the price to this level by the end of the year. If a correction begins in the ETH / BTC pair, we can expect the ether to strengthen to $ 550, Antonov believes.
He warned that the rise in the ETH rate to an all-time high of $ 1400 is questionable. If altcoins continue to decline in relation to bitcoin, then in three months, many of them will be "diagnosed with death" and delisting from exchanges due to low volumes.
However, there is an important event scheduled for December 1st. Ethereum transition to ETH 2.0. If everything goes smoothly, then Ethereum will have the opportunity to break through to the $ 600 level, the analyst predicted. If ether is bought for altcoins, then there is a possibility of seeing a rally above $ 600, the expert is sure.
- "Growth is inevitable." What to do with Bitcoin right now
- A new cryptocurrency will appear on Sunday. You can get it for free
- US PayPal customers gained access to cryptocurrency
Altcoin price is in the stage of correction, however analysts are confident that growth will continue in the near future
On the evening of November 14, the average Ethereum rate fell below $ 453. At the moment, the largest altcoin by capitalization is trading at around $ 459, over the past day it has fallen in price by 1.6%. NewsBTC analyst Ayash Jindal explained that the asset's price is correcting after peaking around $ 478.
The expert warned that if there is a breakdown below the support levels of $ 451 and $ 450, the correction may intensify. In this case, important support will be $ 440, but if it fails, the price may sharply drop to $ 425. To continue the upward trend, the cryptocurrency now needs to gain a foothold above the $ 450 level. In this case, he has a chance to retest the resistance at $ 465.
Jindal noted that the first major resistance is at $ 470, after which the price is likely to move towards the $ 478 mark. In this case, perhaps the next targets will be $ 495 and $ 500.
Vladislav Antonov, analyst at IAC Alpari, explained that given the current situation with altcoins in pairs with bitcoin, the growth of the ether rate against the American currency is limited. No matter how buyers try to raise the price of ether above $ 500, sales in the ETH / BTC pair completely neutralize the growth of the ETH / USD pair, the expert emphasized.
“Since the beginning of September, a bearish trend has emerged in the ETH / BTC pair. Ether fell in price by 34%, to 0.0266 BTC. Throughout the market, capital flows from altcoins to bitcoin, as it is more stable and brings more profit to investors, ”the expert explained.
According to him, the target for Ethereum is $ 1105, but buyers will not have time to raise the price to this level by the end of the year. If a correction begins in the ETH / BTC pair, we can expect the ether to strengthen to $ 550, Antonov believes.
He warned that the rise in the ETH rate to an all-time high of $ 1400 is questionable. If altcoins continue to decline in relation to bitcoin, then in three months, many of them will be "diagnosed with death" and delisting from exchanges due to low volumes.
However, there is an important event scheduled for December 1st. Ethereum transition to ETH 2.0. If everything goes smoothly, then Ethereum will have the opportunity to break through to the $ 600 level, the analyst predicted. If ether is bought for altcoins, then there is a possibility of seeing a rally above $ 600, the expert is sure.
- "Growth is inevitable." What to do with Bitcoin right now
- A new cryptocurrency will appear on Sunday. You can get it for free
- US PayPal customers gained access to cryptocurrency