What, Jamie? Bitcoin Price Regains Pre-FUD $4,400 Heights, NEO Jumps 15%
Bitcoin prices finally shrugged off the negative impact of Jamie Dimon and China Monday to pass $4,400.
As of press time, BTC was trading at around $4,440, marking its highest level since Sep. 9.
The achievement continues a trend which began in the last week of September, with prices jumping almost $1,000 in the intervening days, data from Bitcointicker shows.
Chinese regulatory posturing including the slow shutdown of its exchange industry, as well as negative comments from JPMorgan CEO Jamie Dimon, saw last month drag down markets across cryptocurrency.
While Chinese investors soon rallied to find alternative means to continue trading, a raft of well-known figures likewise came out in support of Bitcoin against Dimon.
With the ‘FUD’ effect now in reversal, a further surge in prices Sunday came as the results of an "illegal" referendum in Spain on the independence of Catalonia returned an alleged 90 percent of voters in favor.
The impact on Bitcoin strictly due to this event is being increasingly reported, yet the evidence is dubious, according to commentators from within the crypto sphere such as WhalePanda.
Full story at http://bit.ly/2g2WCmP
Source: CoinTelegraph
Goldman Sachs Contemplates Creating a New Bitcoin Trading Operation
The Manhattan-based financial management service, Goldman Sachs Group, says that it’s looking into entering the world of bitcoin trading markets according to a report from the Wall Street Journal. The publication’s columnist, Paul Vigna, explains that people familiar with the matter say Goldman Sachs is interested in dealing with bitcoin trading markets. The source explained Goldman’s plan is in its “early stages,” but is the first Wall Street firm to show this much interest in the bitcoin trading arena.
“In response to client interest in digital currencies we are exploring how best to serve them in this space,” a Goldman spokeswoman told both the Wall Street Journal and CNBC news outlets.
Goldman Sachs interest in bitcoin started off with the firm discounting nearly every benefit the technology had to offer a few years ago. A couple of years down the line the financial management company suddenly couldn’t stop talking about bitcoin and this time highlighting its positive attributes. Goldman Sachs also has technical stock and forex analysts watching the market closely and has given investors trading advice in a few market reports. Just recently a lead technical strategist at Goldman, Sheba Jafari, has been plotting charts and predicting price waves for clients. Reports revealthat the company started covering bitcoin markets due to “numerous client requests.”
Full story at http://bit.ly/2hMc9LI
Source: Bitcoin News
Bitcoin: Is It A Fraud Or Is It The Future Of Currency?
Jamie Dimon, CEO of JP Morgan Chase, recently labeled the leading digital currency, Bitcoin, a “fraud,” likening it to the 17th century tulip bulb mania and adding that he would fire any employee caught trading it. But on October 2, the Wall Street Journal reported that rival Goldman Sachs is considering trading in cryptocurrencies, potentially the first Wall Street firm to do so.
For me, the jury is still out. Here’s why.
Back in the 1960s, I partnered with a commodities broker at the then-existent Hayden, Stone brokerage firm to form the Comsec Fund, a mutual fund that could trade commodities as well as other securities. I provided a statistical trading system; he handled administration and sales. Hedging was an important feature of the fund, since trading in commodities requires frequent short selling of commodities contracts. Registering the fund with the Securities and Exchange Commission was difficult and time-consuming. We had to persuade staff members that hedging both securities and commodities contracts was an acceptable investment strategy and not mere speculation. Eventually, we succeeded in registering with the SEC and 37 US states before piling up legal debts that were so large that we had to find a buyer, in our case a financial services company, to bail us out.
The experience could have soured me on the entire notion of hedge funds. But of course hedge funds later came into vogue, prompting the growth and development of an entire hedge fund industry. If anything, the experience left me more open-minded than ever about innovative financial endeavors. So that brings me to the subject of digital money or “cryptocurrency,” a form of encrypted digital money.
Full story at http://bit.ly/2hLcwWN
Source: Forbes
A Few Chinese Bitcoin Exchanges Bid Farewell to the Crypto-Community
Last month many Chinese cryptocurrency trading platforms announced they would be closing their doors for an unknown amount of time. On September 30, BTCC and Viabtc said goodbye for now to the bitcoin ‘community’ and closed exchange operations.
“Dear friends, Viabtc has closed our Exchange service from 00:00 Sept 30th, 2017,” explains the Chinese exchange. “Viabtc has also completed CNY and crypto withdrawal of all users. We appreciate all your support and trust in us from all over the world — See you my friends.”
Currently, Chinese bitcoin traders can still use the trading platforms Huobi and Okcoin until the end of October. Speculators believe Chinese traders are already moving funds to exchanges in Hong Kong and other neighboring regions. Further Over-the-Counter (OTC) trade volumes on exchanges like Localbitcoins is higher than ever before in history. Additionally, people are reporting that Chinese traders are selling bitcoin over Wechat, Telegram and some are flocking to a new decentralized exchange called “Airswap.”
Full story at http://bit.ly/2hMZfNv
Source: Bitcoin News
How to Check If Your PC Being Pirated to Mine Bitcoin
First it was The Pirate Bay, then Showtime was caught secretly using page visitor’s processing power to mine cryptocurrency as a form of alternative revenue.
It has led to some indignation from users of such sites, as well as worry and fear about the vulnerability of users who are visiting sites and staying on them for a long time. However, there are a few things that can be done to protect yourself.
It must be stated that the reasoning put forward, along with an apology, from The Pirate Bay was that they saw it as an alternative to banner advertising, which is tricky for what is essentially an illegal website.
Many were happy with the idea of their processor being used, but not happy with the secret nature of it all.
Full story at http://bit.ly/2xPJVDL
Source: CoinTelegraph
Here's Another Sign Goldman Sachs Is Taking Bitcoin Seriously
Even as China shutters Bitcoin exchanges and the U.S. Securities and Exchange Commission signals heavier scrutiny of initial coin offerings, clients of trading giant Goldman Sachs are still to get in on the cryptocurrency trade.
According to the Wall Street Journal citing people with knowledge of the matter, the banking giant is reportedly considering a new trading operation involving cryptocurrency thanks to increased interest in digital currencies. Potentially, the operation under consideration could become a full-fledged team of traders and sales people.
Such an operation would make Goldman the first Wall Street giant to directly deal with cryptocurrency, according to the Journal.
“In response to client interest in digital currencies, we are exploring how best to serve them in the space,” a Goldman Sachs representative said in a statement.
Full story at http://for.tn/2hLcy0R
Source: Fortune
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