Category Archives: Cryptocurrency

Crypto Insider (press release) (blog)

Is Kazakhstan the next cryptocurrency hotspot? Crypto Insider (press release) (blog) Back in 2014, Kairat Kelimbetov, then-head of Kazakhstan's National Bank suggested that Bitcoin could be a form of financial pyramid scheme. The common belief among Kazakhstani officials was that cryptocurrencies could undermine the country's already ...

Read this article:
Is Kazakhstan the next cryptocurrency hotspot? - Crypto Insider (press release) (blog)

Investors are mesmerized with AMD's impressive second quarter as cryptocurrency mining demand drove the company's financial results above Wall Street's expectations.

The chipmaker reported better-than-expected second-quarter earnings and guidance Tuesday. Its shares surged more than 10 percent in after-hours trading following the report and were up more than 9 percent in early regular trading Wednesday.

"AMD turned in a solid beat to our and consensus estimates as the company's new Ryzen desktop CPU ramped into production and GPU demand outstripped supply," Stifel analyst Kevin Cassidy wrote in a note to clients Wednesday. "While management wasn't specific on how much, the GPU revenue upside was driven by cryptocurrency applications."

AMD shares have rallied 102 percent through Tuesday in the previous 12 months compared with the S&P 500's 14 percent return. That performance ranks No. 4 in the entire S&P 500, according to FactSet.

Cryptocurrency miners use graphics cards from AMD and Nvidia to "mine" new coins, which can then be sold or held for future appreciation. AMD traditionally has a better reputation for mining cryptocurrencies.

The ethereum cryptocurrency is up more than 2,400 percent year to date through Wednesday, while bitcoin is up about 160 percent this year, according to data from industry website CoinDesk.

In June, AMD shares jumped after the company told CNBC that the dramatic rise in digital currency prices has driven demand for its graphics cards. At the time, major computer hardware retailers had sold out of AMD's recently launched RX 570 and RX 580 models.

Digital currency mining was the key topic during AMD's earnings conference call with Wall Street on Tuesday evening. Analysts asked company management three times for clarification on the magnitude and sustainability of cryptocurrency mining demand.

One analyst noted the company is working to mitigate future downside risk and is not incorporating continued digital currency mining outperformance in its guidance.

"Crypto mining helped stimulate demand for AMD GPUs in Q2, which we think could translate to a risk should cryptocurrency values decline, AMD is working to manage the crypto risk by targeting supply to the core GPU gaming market, and working with some of its AIB [add in board] partners to offer specific feature sets to segment the market between gaming & mining," Jefferies analyst Mark Lipacis wrote Wednesday. "AMD is not including upside from mining in its outlook."

Lipacis reiterated his buy rating on the company and raised his price target to $19 from $16, representing 35 percent upside from Tuesday's close.

To be sure, some analysts are still skeptical about AMD after its big run.

"We were surprised at the aftermarket reaction for the stock," Morgan Stanley analyst Joseph Moore wrote Wednesday. "We continue to be somewhat cynical on the long-term intrinsic value of the stock, despite being excited about Zen and maintaining numbers that are above the Street. As street numbers start to catch up, absolute valuation levels are going to matter more."

Moore reiterated his equal weight rating and $11 price target for AMD shares.

CNBC's Michael Bloom contributed to this story.

Read this article:
Wall Street stunned over AMD's blowout results due to cryptocurrency mining demand - CNBC

Because of the growing attention towards Zcash (ZEC) cryptocurrency, EXMO exchange reports about the launching of trades in four currency pairs at a time: ZEC/BTC, ZEC/USD,ZEC/EUR, ZEC/RUB.

28th July, EXMO cryptocurrency exchange expanded the list of financial instruments, having integrated Zcash (ZEC) cryptocurrency, which total market capitalization is estimated at $302 700 000. The cryptocurrency has gained users attention and trust because of the high degree of anonymity of transactions in the system and the simplicity of its mining.

Why its cryptocurrency Zcash (ZEC) that weve chozen? The decision to launch this cryptocurrency was based on the results of the survey, conducted earlier among active exchange users, according to which, Zcash (ZE) cryptocurrency took the first place.

New financial instruments of Zcash It should be noted that due to Zcash integration platform users are able now to perform trading operations for the most demanded currency pairs: ZEC/BTC, ZEC/USD, ZEC/EUR, ZEC/RUB. The deposit and the withdrawal are already accessible on the page Wallet.

Let us remind you, that EXMO cryptocurrency exchange has already added three new currency pairs: ETH/EUR, ETH/LTC, DASH/RUB and also promising WAVES token. In the near future the company is also planning to extend the list of financial trading instruments.

Follow our updates, that are published on EXMO trading platform in the News section and follow us on Telegram, Facebook, Twitter pages. Thank you for staying with us! Best regards, EXMO team

See more here:
EXMO integrates Zcash cryptocurrency - newsBTC

Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated maths problems that generate coins. Users can also buy the currencies from brokers, then store and spend themusing cryptographic wallets.

Cryptocurrencies and applications of blockchain technology are still nascent in financial terms and more uses should be expected. Transactions including bonds,stocks and other financial assetscould eventually be traded using the technology.

Cryptocurrencies are known for being secure and providing a level of anonymity. Transactions in them cannot be faked or reversed and there tend to be low fees, making it more reliable than conventional currency. Their decentralised nature means they are available to everyone, where banks can be exclusive in who they will let open accounts.

As a new form of cash, the cryptocurrency markets have been known to take off meaning a small investment can become a large sum over night.

But the same works the other way. People look to invest in cryptocurrencies should be aware of the volatility of the market and the risks they take when buying.

Because of the level of anonymity they offer, cryptocurrencies are often associated with illegal actvity, particularly on the dark web. Users should be careful about the connotations when choosing to buy the currencies.

Read more here:
What is cryptocurrency? - Telegraph.co.uk

Fortune has published an examination of a secretive cryptocurrency hedge fund that is backed by some of Silicon Valleys top venture capital firms. The fund was co-founded by Naval Ravikant, Joshua Seims, and Lucas in 2014, and has produced returns of over 500%.

Also Read:Hedge Funds Are Quietly Investing in Bitcoin

Metastable Capital is a cryptocurrency hedge fund that has attracted investment from many top venture capital firms despite largely shunning publicity since its inception in 2014. Metastable was co-founded by Angellist CEO, Naval Ravikant, cryptography expert, Lucas Ryan, and former angel investor, Joshua Seims.

Fortune has reported that Andreessen Horowitz, Sequoia Capital, Union Square Venture, Bessemer Venture Partners, and Founders Fund are among Metastables major investors all of whom participated in Polychain Capitals fundraiser earlier this year.

Metastable takes a long term perspective when assessing the markets, aiming to invest in projects that it expects will be profitable over the course of at least a decade. Theres a handful of, say between five and 10 of these major use cases that could be trillion-dollar blockchains, Seims told Fortune. Its all very long-term focused, and we think were in super early days right now. It really comes down to which do we think is the strong enough technology, that we think can win.

Metastables website describes two funds offered by the firm, Metastable Balanced, and Metastable Edge. The Balanced fund seeks to take a value-investor approach to investing, guided by deep technical understanding of the protocols to select a portfolio that we believe will deliver the greatest returns, holding a large portion of bitcoin, in additional to several smaller sized positions in major altcoins. Edge is designed for investors that already have substantial Bitcoin holdings, and holds ETH and a variety of smaller coins from more recent ICOs, although the ETH portion fluctuates based on whether we believe that the value from new coins is going to accrue to the new coin or to ETH.

Metastables flagship cryptocurrency hedge fund has yielded impressive performance throughout 2017. At present, Fortune asserts that Metastables Balanced fund is invested in approximately a dozen different markets, including bitcoin, ethereum, and monero of which it is reported to own roughly 1% of total supply. During mid-March, Metastable reported returns of 539%, however, since March, bitcoin, monero, and ethereum have more than doubled prompting Fortune to estimate Metastables returns since inception are greater than 1,000%. On June 23 it is alleged that Metastable reported total assets of $69 million.

Metastable requires a minimum investment of $1 million, and charges a 2% management fee and a 20% performance fee.

Do you think that cryptocurrency funds will continue to out perform mainstream hedge funds in coming years? Share your thoughts in the comments section below!

Images courtesy of Shutterstock and Wikipedia

Need to calculate your bitcoin holdings? Check ourtoolssection.

Read more:
Secretive Cryptocurrency Hedge Fund Metastable Examined - Bitcoin News (press release)

Chip maker AMD has seen its sales buoyed in recent months by big demand for graphics cards by cryptocurrency miners.

According to its latest financial report, AMD recorded $1.22 billion in revenue duringthe second quarter of 2017, up 19% compared to the same period last year. This increase, the company said, is being spurred "by higher revenue in the computing and graphics segment."

Yet cryptocurrency mining isn't part of its long-term strategy for growth, accordingto Lisa Su, the firm's president and CEO, who remarked on the phenomenon during a Q2earnings call this week.

However, that state of affairs could change depending on how the situation progresses in the months ahead.

Su said during the call:

"Relative to cryptocurrency, we have seen some elevated demand. But it's important to say we didn't have cryptocurrency in our forecast, and we're not looking at it as a long-term growth driver. But we'll certainly continue to watch the developments around the blockchain technologies as they go forward."

Mining is an energy intensive process by which new transactions are added to a blockchain. In return for adding a new blocks, miners are awarded with new tokens, with the profits being derived from the difference between the energy expended and the prevailing exchange rate of those tokens.

Much of the demand for graphics cards, or GPUs, is being driven by ethereum miners. Bitcoin mining, by comparison, is accomplished through special-purpose computers designed for that singular purpose.

Graphics cardsimage via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [emailprotected].

Here is the original post:
AMD: Cryptocurrency Mining Isn't 'A Long-Term Growth Driver ... - CoinDesk

News world

An unidentified source reported that Moroccan authorities have arrested Renwick Haddow, a British man charged with securities fraud in the United States. The US SEC alleges that Haddow, a former New York resident, solicited investors for a non-existent bitcoin trading platform, duping them out of their money.

According to an unidentified source, on Wednesday, July 26, 2017, Moroccan police in Tangiers arrested Renwick Haddow, a man charged with securities fraud by the US Securities and Exchange Commission (SEC). After appearing before the public prosecutor in Tangiers, Haddow was taken to a prison in Sal, close to the Moroccan capital, Rabat. The Moroccan Court of Cassation will consider his extradition.

On June 30, 2017, the SEC filed charges against Haddow, accusing him of failing to register his firm as a broker-dealer and creating front companies for an investment scam. Haddow solicited investors for two fake companies, Bitcoin Store, a purported bitcoin trading platform, and Bar Works, a flexible workspace firm.

According to Andrew M. Calamari, director of the SECs New York Regional Office, Haddow created two trendy companies and misled investors into believing that highly-qualified executives were leading them to quick profitability.

The SEC alleges that these executives never existed. The SEC further asserts that Haddow siphoned approximately $5 million using the front companies Bar Works and Bitcoin Store, and diverted the funds to offshore accounts in Mauritius and Morocco.

It appears that Haddow exploited bitcoins name to solicit investors chasing terrific returns. The charges against him, however, are not related to the SECs recent report on token offerings and securities.

Over the next few years, for every successful token offering and subsequent powerhouse company, there may be a handful of companies that will falter. In the cryptocurrency community, its vital to distinguish between classic cases of financial fraud (like Haddows) and actual companies that fail to deliver on their promises.

Matthew is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles.

Read more here:
Moroccan Police Arrest Alleged Cryptocurrency Investment Charlatan - ETHNews

When initial coin offerings emerged as a new way for startups to raise money a few months ago, there was much speculationand some doubt about whether the cryptocurrency crowdfunding method could disrupt or even replace the traditional venture capital industry .

Now, the early numbers are in, and there is no question that ICOs , an unregulated form of fundraising by which companies can sell their own form of digital currency or tokens to investors, are winning this race, at least in the blockchain industry.

ICOs have now raised nearly four times as much money as bitcoin companies raised in venture capital dollars so far this year. Thats according to PitchBook, which tallied up the latest numbers: ICOs have raised almost $1.3 billion in 2017 so far, while only about $358 million in traditional VC money went to blockchain startups over the same period.

And that's at a time when venture capital is booming among blockchain companies. Last quarter was the best quarter for blockchain and bitcoin VC funding on record, more than doubling the amount raised in the first quarter and up 89% year over year, according to CBInsights.

But ICOs are growing much faster, having already raised almost six times as much this year as they raised in all of 2016.

Now, a fundraising method that you likely had never heard of until a few months ago is on track this year to exceed all prior VC investment in blockchain, which has totaled a cumulative $1.7 billion over the past eight years, PitchBook says.

To underscore just what a whirlwind trend this has become, even entrepreneurs doing their own ICOs are astonished by the craze.

At a panel discussion hosted by BlockchainDriven Thursday night, Morgan Hill, an investor at Attis Capital, announced that he was launching a new cryptocurrency hedge fund called AxionV in August. But unlike the crypto hedge fund startup MetaStable , which recently received funding from Sequoia, Andreessen Horowitz, Founders Fund, Union Square Ventures and Bessemer Venture Partners, AxionV has a different plan. It will do an ICO itself, targeting a $30 million fund, which it will then use to invest in other ICOs, Hill said.

He also told a story of another hedge fund manager in London who was planning to launch an ICO of a company that aims to put the entire Quran online, and use the new cryptocurrency to compensate people who contribute to the digitization of the religious text. Hills take: The first thing I thought was, this is categorically insane.

He later came around, he said, acknowledging religion is a very important piece of information and that the project actually does provide a huge value.

See more here:
Cryptocurrency ICOs Are Making Bitcoin Startups Richer than VCs Ever Did - Fortune

New regulations for cryptocurrency exchanges have gone into effect in the U.S. state of Washington.

Following the passing of Senate Bill 5031 into law at the weekend, the state's money transmitter laws now apply to exchanges, meaning that they need to obtain a license fromthe Washington State Department of Financial Institutionsand must provide a third-party audit of their data systems.

Among other requirements, the law also mandatesa new transmitter bond requirement, with the figurebeingtied to the amount of currency exchanged during the previous year.

Lawmakers finalized the measure in April, sending it to the desk of Gov.Jay Inslee, who signed it days after work on the bill was completed. According to public records, the law went into effect on Sunday, July 23.

As CoinDesk haspreviously reported, lawmakers in the western U.S. state have been working since January to develop regulations for exchange startups.

The bill's passage wasn't without controversy, however. Cryptocurrency exchanges Poloniex and Bitfinex declared that they would would stop serving customers there, citing the new regulations.

At the same time, startupssuch as New York-based exchange Gemini moved in the opposite direction, obtaining approval to begin serving customers in the stateearlier this year.

Washington State Capitol imagevia Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [emailprotected].

See the rest here:
Washington's New Cryptocurrency Exchange Rules Are Now in Effect - CoinDesk

I believe the project will go beyond the sky! Now Bitcoin and maybe other cryptocurrency will have more users and holders through Coineasybuy . I enjoyed the store setup and completed the process within 5 minute. Great views and Escrow system for buyers and holders.Let the sales begin!

Aliexpress Seller-Mark Hong Vendor

I think this is a great kind of Cryptocurrency buying and selling community . Great system and setting . I hope to not only meet great sellers but also grow my business by reselling .

Bitcoin Enthusiast- David Wang Bitcoin User

I have always wanted to buy products from international sellers , but Banking regulations and Credit/debit card payment limitations would not just allow me. Now i am able to buy products even on wholesale and ship to my country with ease and making all payments in Bitcoin. Great!

Nigeria Reseller-Joseph Ekpen Buyer

This is what we have been waiting for. The Ability to sell with confidence and without limitation to buyers payment, Products, and ease of selling . CoinEasybuy will make a great impact in my business and double my sales from what i get from credit card payments. I am Glad!

Ebay Seller Alix James Vendor

Original post:
Buy/Sell with Cryptocurrency