Is bitcoin growing up? Regulated futures boom as investors seek a safer ride

LONDON (Reuters) - When bitcoin was born it was a symbol of counterculture a rebel currency with near-anonymity and a lack of regulation. A decade later there are growing signs its entering the establishment its creators sought to subvert. As the cryptocurrency has surged in value bigger investors from trading firms to hedge funds have increasingly turned to exchanges regulated in traditional financial centers. They are buying bitcoin futures to gain exposure to the asset while avoiding the hacks and heists that plague the industry. The crypto market associated by many with the dark web money laundering and the Wild West is beginning to be discussed by financiers in the same breath as derivatives hedging instruments and compliance. Investors plowed record levels of money into bitcoin futures at regulated exchanges in the United States and Britain last month hungry for a piece of the action but seeking the kind of protection that will satisfy their compliance officers. Between March and May bitcoin more than doubled in price an ascent peppered by double-digit price swings reminiscent of its 2017 bubble which was driven by smaller retail investors. During that period Chicago-based CME Group Incs average daily volumes of futures contracts climbed over seven-fold to a record $508 million in May. The number of open interest contracts - those that havent been settled - also hit a record. CME said bitcoins price gains and the subsequent increase in volatility attracted new investors seeking to hedge risk. Crypto Facilities a London-registered platform bought this year for over $100 million by major U.S. cryptocurrency exchange Kraken said bitcoin futures daily trading volumes jumped over three-fold from March to a record $84 million in May. In a sign of the growing mainstream market the owner of the New York Stock Exchange Intercontinental Exchange Inc (ICE) plans to offer bitcoin futures in the coming months through a new crypto-trading platform Bakkt. Its logical they (institutional investors) would want to be moving in this direction especially considering their size and how much more there is at stake said Joel Kruger currency strategist at LMAX Exchange Group. Futures - financial contracts that lock buyers and sellers into trading an asset at a set date and price - are seen as key components of any mature market as they boost market liquidity and allow investors to bet on the direction of prices. Its a useful hedging instrument said Daniel Matuszewski head of trading at Goldman Sachs-backed crypto firm Circle. Futures are much easier to trade much easier to use for hedging much easier to get leverage on. Playing out in the spiking demand is the emergence of a twin-track global bitcoin futures market - on onshore exchanges like CME and offshore exchanges which are more lightly regulated and still command the bulk of the multi-billion-dollar daily market. Onshore exchanges - those regulated in established financial centers - are usually subject to strict checks on governance technology and client vetting. They demand a high degree of transparency. Offshore platforms in contrast are typically registered in jurisdictions with less onerous rules. They tend to accept business from investors who can sign up with few checks on their identity or the provenance of their funds. Larger investors bound by strict compliance rules are heading to regulated platforms in financial hubs like CME according to industry players. Traders with more tolerance for risk - including retail investors from north Asia and companies earning money in cryptocurrency from miners to gaming firms - use of offshore exchanges. Offshore exchanges arent really exchanges - they are more like private markets said Vladimir Jelisavcic of trading firm Cherokee Acquisition in New York. Offshore exchanges have offered bitcoin futures since as early as 2011. One of the biggest Seychelles-registered BitMEX said it now accounts for over 65% of global cryptocurrency derivatives t

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Is bitcoin growing up? Regulated futures boom as investors seek a...

LONDON (Reuters) - When bitcoin was born it was a symbol of counterculture a rebel currency with near-anonymity and a lack of regulation. A decade later there are growing signs it’s entering the establishment its creators sought to subvert. As the cryptocurrency has surged in value bigger investors from trading firms to hedge funds have increasingly turned to exchanges regulated in traditional financial centers. They are buying bitcoin futures to gain exposure to the asset while avoiding the hacks and heists that plague the industry. The crypto market associated by many with the dark web money laundering and the Wild West is beginning to be discussed by financiers in the same breath as derivatives hedging instruments and compliance. Investors plowed record levels of money into bitcoin futures at regulated exchanges in the United States and Britain last month hungry for a piece of the action but seeking the kind of protection that will satisfy their compliance officers. Between March and May bitcoin more than doubled in price an ascent peppered by double-digit price swings reminiscent of its 2017 bubble which was driven by smaller retail investors. During that period Chicago-based CME Group Inc’s average daily volumes of futures contracts climbed over seven-fold to a record $508 million in May. The number of open interest contracts - those that haven’t been settled - also hit a record. CME said bitcoin’s price gains and the subsequent increase in volatility attracted new investors seeking to hedge risk. Crypto Facilities a London-registered platform bought this year for over $100 million by major U.S. cryptocurrency exchange Kraken said bitcoin futures daily trading volumes jumped over three-fold from March to a record $84 million in May. In a sign of the growing mainstream market the owner of the New York Stock Exchange Intercontinental Exchange Inc (ICE) plans to offer bitcoin futures in the coming months through a new crypto-trading platform Bakkt. “It’s logical they (institutional investors) would want to be moving in this direction especially considering their size and how much more there is at stake” said Joel Kruger currency strategist at LMAX Exchange Group. Futures - financial contracts that lock buyers and sellers into trading an asset at a set date and price - are seen as key components of any mature market as they boost market liquidity and allow investors to bet on the direction of prices. “It’s a useful hedging instrument” said Daniel Matuszewski head of trading at Goldman Sachs-backed crypto firm Circle. “Futures are much easier to trade much easier to use for hedging much easier to get leverage on.” Playing out in the spiking demand is the emergence of a twin-track global bitcoin futures market - on “onshore” exchanges like CME and “offshore” exchanges which are more lightly regulated and still command the bulk of the multi-billion-dollar daily market. Onshore exchanges - those regulated in established financial centers - are usually subject to strict checks on governance technology and client vetting. They demand a high degree of transparency. Offshore platforms in contrast are typically registered in jurisdictions with less onerous rules. They tend to accept business from investors who can sign up with few checks on their identity or the provenance of their funds. Larger investors bound by strict compliance rules are heading to regulated platforms in financial hubs like CME according to industry players. Traders with more tolerance for risk - including retail investors from north Asia and companies earning money in cryptocurrency from miners to gaming firms - use of offshore exchanges. “Offshore exchanges aren’t really exchanges - they are more like private markets” said Vladimir Jelisavcic of trading firm Cherokee Acquisition in New York. Offshore exchanges have offered bitcoin futures since as early as 2011. One of the biggest Seychelles-registered BitMEX said it now accounts for over 65% of global cryptocur

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Is bitcoin growing up? Regulated futures boom as investors seek a...

LONDON (Reuters) - When bitcoin was born it was a symbol of counterculture a rebel currency with near-anonymity and a lack of regulation. A decade later there are growing signs it’s entering the establishment its creators sought to subvert. As the cryptocurrency has surged in value bigger investors from trading firms to hedge funds have increasingly turned to exchanges regulated in traditional financial centers. They are buying bitcoin futures to gain exposure to the asset while avoiding the hacks and heists that plague the industry. The crypto market associated by many with the dark web money laundering and the Wild West is beginning to be discussed by financiers in the same breath as derivatives hedging instruments and compliance. Investors plowed record levels of money into bitcoin futures at regulated exchanges in the United States and Britain last month hungry for a piece of the action but seeking the kind of protection that will satisfy their compliance officers. Between March and May bitcoin more than doubled in price an ascent peppered by double-digit price swings reminiscent of its 2017 bubble which was driven by smaller retail investors. During that period Chicago-based CME Group Inc’s average daily volumes of futures contracts climbed over seven-fold to a record $508 million in May. The number of open interest contracts - those that haven’t been settled - also hit a record. CME said bitcoin’s price gains and the subsequent increase in volatility attracted new investors seeking to hedge risk. Crypto Facilities a London-registered platform bought this year for over $100 million by major U.S. cryptocurrency exchange Kraken said bitcoin futures daily trading volumes jumped over three-fold from March to a record $84 million in May. In a sign of the growing mainstream market the owner of the New York Stock Exchange Intercontinental Exchange Inc (ICE) plans to offer bitcoin futures in the coming months through a new crypto-trading platform Bakkt. “It’s logical they (institutional investors) would want to be moving in this direction especially considering their size and how much more there is at stake” said Joel Kruger currency strategist at LMAX Exchange Group. Futures - financial contracts that lock buyers and sellers into trading an asset at a set date and price - are seen as key components of any mature market as they boost market liquidity and allow investors to bet on the direction of prices. “It’s a useful hedging instrument” said Daniel Matuszewski head of trading at Goldman Sachs-backed crypto firm Circle. “Futures are much easier to trade much easier to use for hedging much easier to get leverage on.” Playing out in the spiking demand is the emergence of a twin-track global bitcoin futures market - on “onshore” exchanges like CME and “offshore” exchanges which are more lightly regulated and still command the bulk of the multi-billion-dollar daily market. Onshore exchanges - those regulated in established financial centers - are usually subject to strict checks on governance technology and client vetting. They demand a high degree of transparency. Offshore platforms in contrast are typically registered in jurisdictions with less onerous rules. They tend to accept business from investors who can sign up with few checks on their identity or the provenance of their funds. Larger investors bound by strict compliance rules are heading to regulated platforms in financial hubs like CME according to industry players. Traders with more tolerance for risk - including retail investors from north Asia and companies earning money in cryptocurrency from miners to gaming firms - use of offshore exchanges. “Offshore exchanges aren’t really exchanges - they are more like private markets” said Vladimir Jelisavcic of trading firm Cherokee Acquisition in New York. Offshore exchanges have offered bitcoin futures since as early as 2011. One of the biggest Seychelles-registered BitMEX said it now accounts for over 65% of global cryptocur

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Is bitcoin growing up? Regulated futures boom as investors seek a...

LONDON (Reuters) - When bitcoin was born it was a symbol of counterculture a rebel currency with near-anonymity and a lack of regulation. A decade later there are growing signs it’s entering the establishment its creators sought to subvert. As the cryptocurrency has surged in value bigger investors from trading firms to hedge funds have increasingly turned to exchanges regulated in traditional financial centers. They are buying bitcoin futures to gain exposure to the asset while avoiding the hacks and heists that plague the industry. The crypto market associated by many with the dark web money laundering and the Wild West is beginning to be discussed by financiers in the same breath as derivatives hedging instruments and compliance. Investors plowed record levels of money into bitcoin futures at regulated exchanges in the United States and Britain last month hungry for a piece of the action but seeking the kind of protection that will satisfy their compliance officers. Between March and May bitcoin more than doubled in price an ascent peppered by double-digit price swings reminiscent of its 2017 bubble which was driven by smaller retail investors. During that period Chicago-based CME Group Inc’s average daily volumes of futures contracts climbed over seven-fold to a record $508 million in May. The number of open interest contracts - those that haven’t been settled - also hit a record. CME said bitcoin’s price gains and the subsequent increase in volatility attracted new investors seeking to hedge risk. Crypto Facilities a London-registered platform bought this year for over $100 million by major U.S. cryptocurrency exchange Kraken said bitcoin futures daily trading volumes jumped over three-fold from March to a record $84 million in May. In a sign of the growing mainstream market the owner of the New York Stock Exchange Intercontinental Exchange Inc (ICE) plans to offer bitcoin futures in the coming months through a new crypto-trading platform Bakkt. “It’s logical they (institutional investors) would want to be moving in this direction especially considering their size and how much more there is at stake” said Joel Kruger currency strategist at LMAX Exchange Group. Futures - financial contracts that lock buyers and sellers into trading an asset at a set date and price - are seen as key components of any mature market as they boost market liquidity and allow investors to bet on the direction of prices. “It’s a useful hedging instrument” said Daniel Matuszewski head of trading at Goldman Sachs-backed crypto firm Circle. “Futures are much easier to trade much easier to use for hedging much easier to get leverage on.” Playing out in the spiking demand is the emergence of a twin-track global bitcoin futures market - on “onshore” exchanges like CME and “offshore” exchanges which are more lightly regulated and still command the bulk of the multi-billion-dollar daily market. Onshore exchanges - those regulated in established financial centers - are usually subject to strict checks on governance technology and client vetting. They demand a high degree of transparency. Offshore platforms in contrast are typically registered in jurisdictions with less onerous rules. They tend to accept business from investors who can sign up with few checks on their identity or the provenance of their funds. Larger investors bound by strict compliance rules are heading to regulated platforms in financial hubs like CME according to industry players. Traders with more tolerance for risk - including retail investors from north Asia and companies earning money in cryptocurrency from miners to gaming firms - use of offshore exchanges. “Offshore exchanges aren’t really exchanges - they are more like private markets” said Vladimir Jelisavcic of trading firm Cherokee Acquisition in New York. Offshore exchanges have offered bitcoin futures since as early as 2011. One of the biggest Seychelles-registered BitMEX said it now accounts for over 65% of global cryptocur

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Craig Wright: Bitcoin Users Are Money Launderers & Will Rot in Jail

By CCN: According to self-declared Bitcoin creator Craig Wright everyone who runs a Lightning node uses privacy-centric cryptocurrency Monero or uses mixing services like CashShuffle will be guilty of money laundering and eventually suffer the brutal legal consequences. Wright says that once courts figure out the money transmitter nature of various blockchain products swift action can be expected. Wright believes that a few government orders could swiftly lead to the destruction of several blockchain systems. He acknowledges that this will not be good news for crypto investors but he insists it’s probably on the cards for them. One day their investment will have value the next it won’t he warns. Those who ignore his warnings and run Lightning Network nodes anyway will find themselves rotting in prison all for the crime of using Bitcoin. In a broader perspective Wright advocates for one method of scaling Bitcoin and for leaving much of the original design alone. Wright recently claimed copyright over much of the early code and the entirety of the whitepaper. Someone else has subsequently filed for the same copyright. The self-proclaimed Satoshi Nakamoto might rail against it but in the Bitcoin world there’s only one kind of acceptable proof: cryptographic evidence. Without it people are just prone to doubt whatever someone says. This type of evidence would carry a lot more weight than whatever any court or copyright office says. At this point there are several people with competing claims to the “Bitcoin” brand. There are also several cryptocurrencies with a semi-similar history who all have “Bitcoin” in their names. Some believe this alone presents a particular threat to Bitcoin. But if most people don’t immediately understand the way Bitcoin and blockchain work they do understand the price of assets. They’ll know something is wrong if they’re getting multiple coins for the price of one. Everything requires a fair bit of research. At this point only Bitcoin Cash and Bitcoin are listed on most major crypto exchanges. Bitcoin SV – a fork of BCH which was itself a fork of BTC – relies on a tertiary market that may or may not be liquid enough to float itself. The liquidity of crypto markets in general is a question for the ages. If a vast majority of the coin were to be liquidated would there be sufficient cash to justify the prices people would be trying to hold at? For his part Wright believes that the government is going to play a significant role in the shaping of the future of the blockchain. Wright says: “To think that it’s a distributed system which makes you safe is a big error. You’re playing lotto with your future. More importantly it allows law enforcement to trace your addresses and in the future hold you accountable. It doesn’t matter whether you’ve been a criminal before you start using such systems; the mere fact that you are aiding and abetting and allowing criminals to mix money with your funds makes you a part of the system.” The nChain chief scientist also proclaims that a regulated system is likely to be freer than a system like Monero which seeks anonymity. In this sense Wright may be referring to the legal difficulty with building a business in the ecosystem.

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Ethereum to Skyrocket by 70 Percent Against Bitcoin Predicts Analyst

By CCN Markets: On May 21 a pseudonymous cryptocurrency technical analyst named “Rampage” posted on Twitter that ETH/BTC is about ready to catch up to ETH/USD. In a tweet the attached an image in which the price action of two markets is overlaid in a single chart. The analyst predicts that Ethereum will move higher against bitcoin and follow the price action of its USD counterpart: We’re covering this particular tweet because of a compelling technical analysis on why Ethereum is bullish against bitcoin. Within the same tweet the person behind the account created a thread to support the forecast. For instance on May 24 the analyst emphasized how Ethereum converted the former resistance of 0.03 into support. In our book that’s seemingly bullish price action as it shows rejection of lower prices. Here is an illustration of Ethereum flipping a key resistance area into support: The analysis also points to an ultra bullish take on a longer time frame. Based on the tweet the resistance into support (S/R) flip and the retest of the three-day order block (OB) looks clean on the longer timeframe. In technical analysis jargon order block is another term for a support or demand area. With the cryptocurrency flashing bullish signals Rampage posted a chart where the targets are specified. The first target is 0.040873 and the second target is 0.053449. Ethereum is trading at 0.030858 as of press time. If the analysis turns out to be accurate long postitions in the market can potentially boost Ethereum holdings against bitcoin by over 70 percent. It has been three weeks since the prediction was made and Ethereum has yet to make its move. However bulls have a legitimate chance in the next 24 to 48 hours to finally make their presence felt. The key level to take out is the resistance between 0.031 and 0.032. A look at the daily chart shows that the cryptocurrency is painting a large falling wedge. This is regarded as a bullish pattern. The breach of the diagonal resistance should start the fireworks for Ethereum. The good news is that bulls are in the perfect position to break out of the pattern. They have been threatening to take out the diagonal resistance for almost a month now. During that period the daily RSI has gone bullish. It broke out of a triple bottom pattern when it converted resistance of 47 into support. This is a very good signal indicating that the market is gaining significant bullish momentum. All of which supports the analyst’s forecast and price targets. So far we have a confluence of several events that support the analyst’s forecast. First we have a clean support into resistance flip (S/R) in both the shorter and longer timeframes. In addition bulls look ready to break out of a falling wedge on the daily chart. The bullish momentum gained as seen on the daily RSI will likely give the bulls the push they need to go over the edge. With these factors we may very likely see Ethereum trading at 0.040873 and then 0.053449 in the coming weeks.

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Amazons $16 best-selling wallet is the perfect Fathers Day gift

If your dad is anything like mine his wallet is likely a decades-old leather accordion style overflowing with credit cards loyalty memberships and receipts. This Father’s Day why not help him step up his game with a sleek and modern carbon fibre wallet that even James Bond would approve of. One such wallet is Amazon’s top rated Dlife Carbon Fiber Mini Wallet which has a 4.2 star rating from nearly 700 customer reviews and is part of the selection of Amazon’s Choice products. Made with RFID technology to protect credit cards this is one wallet that keeps cards safe while also taking up less space than traditional bi-fold styles. It’s able to hold up to 12 different cards while still maintaining a slim 2cm profile. In addition to an extendible body that holds onto credit cards it comes with an external money clip that can be attached to the outside of the wallet for safeguarding cash and receipts. One shopper was thrilled with the quality and the price of this wallet compared to more expensive alternatives saying “I was initially skeptical. However the quality is great. I found a VERY similar product in-store by another manufacturer listed for $90. This unit is a fraction of the price and works great. No issues and have been using this wallet for over six months.” Another was a fan of the carbon fibre design writing “Great wallet. It is small but can hold all my essential cards. It looks cool with the carbon fibre design and is easy to use. I would definitely recommend this wallet.” Available to purchase through Amazon Prime this little wallet makes a great last-minute gift for Dad and doesn’t break the bank at just $16. To pick one up now head over to Amazon. The editors at Yahoo Lifestyle Canada are committed to finding you the best products at the best prices. At times we may receive a share from purchases made via links on this page. Let us know what you think by commenting below and tweeting @YahooStyleCA! Follow us on Twitter and Instagram.

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Report: Gas prices to drop just in time for summer

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Report: Gas prices to drop just in time for summer

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Startups Debut First Protocol for Issuing Tokens via Bitcoin’s Lightning Network

Many bitcoiners thought it would be a cold day in hell when BHB Network co-founder Giacomo Zucco admitted that all tokens aren’t inherently scams. But as it turns out all he needed were the right partners. What started as a client’s request for a more secure alternative to ethereum’s ERC-20 tokens will soon emerge as the first unique protocol for issuing tokens via bitcoin’s lightning network. A better token-minting protocol Zucco said could be a game changer for entrepreneurs. “If ethereum is going to die eventually then we have very high hopes that this will be sustainable long term” the notorious ethereum critic told CoinDesk. This open-source token project called Spectrum includes contributions from investors at Fulgur Ventures and Poseidon Group startups such as Bitrefill and Chainside as well as support from crypto exchange giant Bitfinex. The goal is to change the perception that bitcoin is too slow moving for experimentation. Indeed Bitfinex CTO Paolo Ardoino said in a press release that he hopes to issue a Spectrum-compatible version of the tether stablecoin by the end of the year. “Bitfinex will continue supporting Lightning projects and features in our platforms” Ardoino added. Spectrum which uses the RGB colored coin standards anchored to bitcoin allows people to issue tokens several layers above bitcoin’s base layer. This would complement rather than compete with sidechain tools like Blockstream’s Liquid as well as efforts to enable cross-currency swaps with the lighting network. The fundamental difference here is that ethereum-based tokens bake complex logic such as automated token distribution related to external factors straight into the assets themselves via chunks of code called smart contracts. Gregory Rocco a staffer at ethereum venture studio ConsenSys told CoinDesk that colored coins never really took off because compared to ethereum’s built-in support for complex functions the former required external coordination for the tokens to “represent something” beyond simple units. On the other hand a Spectrum-compatible RGB token will be more like an international socket converter connecting the token to the bitcoin blockchain via the lightning network and also externally to software that automates functions similar to smart contracts. There’s still some abstraction but some bitcoin advocates feel the security trade-offs are worth it. “If you want to do something with tokens we think Layer 3 is the right place to put it” Zucco said of his Spectrum solution. “With lightning now you can be competitive fast creative reckless.” Federico Tenga co-founder of the startup Chainside told CoinDesk some of his consulting clients have already asked for bitcoin wallets that support such units for use cases such as equity tokenization. “Theoretically you could do anything you could do on ethereum” Tenga said. “Some people may use RGB on Liquid ideally if the standard is adopted it would be useful across different protocols maybe even centralized databases. Even for atomic swaps things like that.” By expanding on the earlier work done by Blockstream developer Alekos Filini Spectrum contributors are looking to provide a do-it-yourself bitcoin toolkit to enable the network effects that propelled ethereum’s popularity. After all the reason DIY ERC-20 tokens became so popular is that all ethereum-based platforms and wallets were compatible with them. That made it easy for startups and hobby projects to distribute them with some level of liquidity. Along those lines Spectrum will provide the first bitcoin-centric standard for tokens that can utilize the lightning network for near-instant transactions. Bitfinex will be the first to promote this protocol via its new tether variant. Bitrefill CCO John Carvalho said he believes the subsequent snowball effect could turn the bitcoin ecosystem into a “playground where people are going to start doing things like they are trying to do on ethereum.” Since Bitrefill recently closed a $2 mill

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Researchers: bitcoin’s carbon footprint equal to Las Vegas

Researchers calculate that the electricity required for the virtual currency bitcoin generates as much carbon dioxide as a city like Las Vegas. The Technical University of Munich said Thursday that researcher Christian Stoll and colleagues first calculated the power consumption of the entire bitcoin network. They then combined the results with the carbon emissions from electricity production in the countries where the computers were located concluding that bitcoins carbon footprint in late 2018 was 22-22.9 megatons of CO2 per year. Stoll who also works at the Massachusetts Institute of Technology said the findings should prompt policymakers to consider regulating bitcoin so it uses mainly low-carbon renewable energy. Alex de Vries a bitcoin expert who wasnt involved in the study said the figures were plausible and probably on the conservative side.

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Russia Is Getting Serious About Blockchain but Remains on the Fence About Cryptocurrencies

Last week an annual forum featuring Russia’s top people from the economic sector was held in St. Petersburg and cryptocurrencies were a hot topic there. Notably government agents and state-controlled businesses were vocal about their interest in blockchain but seemed to distance themselves from digital tokens. Meanwhile the regulatory framework for cryptocurrencies is still missing in the country despite the fact that local authorities have been tasked to prepare the needed amendment a while ago. So where is Russia heading in terms of crypto and blockchain? Brief introduction to Russia’s relationship with cryptocurrencies Russia’s stance on cryptocurrencies has been mixed and fluid as demonstrated by how the “CryptoRuble” — the national stablecoin project — has been unfolding. First the prospect of using a substitute for conventional money was deemed “illegal” by financial ombudsman Pavel Medvedev. Then the Kremlin supposedly decided that a pet stablecoin could “minimize the amount of anonymous transactions” or even help evade Western sanctions thereby greenlighting the project. However the CryptoRuble ended up on the back burner in the end as the current status of the project is unclear. It was last mentioned in the news in January 2019 when a government official declared that it could go live “in a 2-3 years” although the Central Bank of Russia (CBR) was acting “very conservatively” about the idea. Cryptocurrencies at large are in a similar situation. In October 2017 President Vladimir Putin claimed that cryptocurrencies “cause serious risk” and are used for crime citing the CBR’s decision to block websites selling digital assets. Just a month prior to that Russian Finance Minister Anton Siluanov argued that the authorities had to accept the idea of the digital currencies market: There have been numerous attempts to define cryptocurrencies legally since then. At different times Russian lawmakers have been urged to introduce a regulatory framework by President Putin (twice) the local Supreme Arbitration Court and the Financial Action Task Force. In May 2018 the crypto bill — titled “On Digital Financial Assets” (DFA) — was passed by the Russian parliament but was soon sent back to the first reading stage due to the lack of definitions for key concepts such as crypto mining cryptocurrencies and tokens. Last month Prime Minister Dmitry Medvedev reportedly said that the popularity of cryptocurrencies “has decreased” which is why the regulation issue “not that relevant” anymore. Notably a year ago he urged the government to legislate at least some basic crypto terms. The current deadline for the regulatory framework set by Putin expires in July. Recap of SPIEF an annual Russian business event for the economic sector Binance and Huobi reported an influx of traders Vitalik Buterin talked about Ethereum 2.0 Despite the prime minister’s suggestion that cryptocurrencies have decreased in popularity they were widely discussed at the St. Petersburg International Economic Forum (SPIEF) an annual Russian business event for the economic sector which took place from 6 to 8 June. The panel dubbed “Blockchain technology and cryptocurrencies: Past Present Future” saw Vitalik Buterin a co-founder of Ethereum; Chris Lee a financial director at Huobi; Ted Lin chief growth officer at Binance; and Kevin Shao among others featured in the expert pool. Lin and Lee reported an influx of traders of a “new generation” on their platforms due to the recent market growth. According to them the trend will persist for the near future. Buterin in turn talked about Ethereum 2.0 also called Serenity — a major upgrade that is supposed to make Ethereum 1000 times more scalable in 18 to 24 months. The Bank of Russia said that cryptocurrencies are not part of traditional financial sector Sergey Shvetsov first deputy governor of the CBR reportedly compared cryptocurrencies to a “game” while peaking at the SPIEF. He is quoted as saying:

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Bloomberg - Are you a robot?

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Bloomberg - Are you a robot?

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Bloomberg - Are you a robot?

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Getting Fire From A Tree Without Burning The Wood

A scientist walks up to a cottonwood tree sticks a hollow tube in the middle and then takes a lighter and flicks it. A jet of flame shoots out from the tube. It seems like a magicians trick. Turns out theres methane trapped in certain cottonwood trees. Methane is the gas in natural gas. Its also a powerful greenhouse gas. So how does it get inside towering trees like the ones on the campus of the Oak Ridge National Laboratory in Tennessee? The wood in this particular species naturally has this condition called wetwood where its saturated within the trunk of the tree says the lighter-flicking scientist Oak Ridge environmental microbiologist Christopher Schadt. This wetwood makes for a welcoming home for all sorts of microorganisms. You cant actually see a lot of the organisms because we cant grow a lot of these organisms says Melissa Cregger a staff scientist at Oak Ridge. So were able to identify them using their gene sequences. Some of those organisms turned out to be species of archaea that are known methane producers. So its not the trees themselves that are making the methane its the microbes living in the trees. Cregger says scientists have known for a while that these organisms existed in forests but not in the trees. We had historically worked below ground she says looking at soil communities root communities. Because methane is such a potent greenhouse gas Cregger says its important to see how much of it the trees are actually producing. This raises the surprising notion that trees could actually be contributing to global warming. Yes these trees remove carbon dioxide from the atmosphere but could the methane be making things worse? But University of Delaware ecologist Rodrigo Vargas says trees are most likely doing more good than harm. Its not like now trees are the bad actors and now theyre emitting methane and now were seeing a big source of that he says. Vargas says thats because the amount of methane leaking from the trees is small compared with other sources. Hes developing a system to get a better understanding of the gases trees produce. Its automated because doing the measurements manually would be a giant pain. Because then you would need to be there in the tree and measuring every half an hour forever Vargas says. And if it rains you have to be there. If its dark you have to be there. If youre uncomfortable hungry you have to be there. Once his system is up and running hes hoping to be able to see whether the amount of methane increases from time to time for example after a big storm or when the temperature suddenly changes. We have the opportunity to see these patterns that no one has seen before Vargas says. Perhaps this is one of those cases where its more important to see the trees than the whole forest. A number of the Democratic presidential hopefuls are in South Carolina this weekend to make a special pitch to African Americans at the Black Economic Alliance Presidential Candidates Forum. The candidates are addressing a range of issues. But right now we are going to focus on one sensitive matter of public policy. That is abortion as a number of states are moving to restrict access to the procedure. Recently NPR PBS NewsHour and Marist polled Americans about their views. And one finding that stood out is that Republican women tend to be the partys strongest supporters of restrictions on abortion and a theory about that being that women tend to be more religious than men and people tend to oppose abortion on religious or moral grounds. Well that got us to thinking. According to the Pew Research Center data African American adults are more likely than any other racial group to regularly attend religious services. They are also more likely to say religion is very important in their lives. And data from the Public Religion Research Institute finds that just over half of African Americans believe having an abortion is wrong. However the same data shows 67% of black Americans believe that abortion should st

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Changing Minds: How Do You Communicate with Climate Change Skeptics?

These indicators provide compelling scientific evidence that climate change is happening. But for some skepticism has crept in and science doesn’t hold the same authority as it once did. Emma Frances Bloomfield an assistant professor of communication studies at UNLV wants to know why. “There have been many attempts by scholars to categorize climate skeptics” Bloomfield said. “A lot of people turn to a strength of denial scale from ‘I sort of deny it’ to ‘I really adamantly deny it.’ Whether they’re very skeptical or not very skeptical I’m more interested in why. What is driving that skepticism at whatever level it might be?” Some agree — and are alarmed — with the studies assessments and reports establishing a link between human activity and climate-warming trends. Others however are completely dismissive. [if IE 9]> A

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Ethereum (ETH) Price Grinding Higher: $255 Presents Crucial Challenge

• ETH price started a steady rebound above the $240 and $245 resistance levels against the US Dollar.• The price traded close to the $250 resistance area and it is currently consolidating in a range.• There was a break above a key bearish trend line with resistance near $237 on the hourly chart of ETH/USD (data feed via Kraken).• The pair is currently trading with a positive bias but it might struggle near $252 and $255. Ethereum price is showing signs of a decent recovery versus the US Dollar similar to bitcoin. However ETH price must clear the $250 and $255 barriers to move into a positive zone. After trading to a new swing low at $226 Ethereum price started a steady recovery against the US Dollar. The ETH/USD pair traded above the $230 and $235 resistance levels to move into a positive zone. It even settled above the $240 level and the 100 hourly simple moving average. Moreover there was a break above the 50% Fib retracement level of the major decline from the $255 high to $226 low. During the climb there was a break above a key bearish trend line with resistance near $237 on the hourly chart of ETH/USD. Finally the bulls pushed the price above the $245 level and the 61.8% Fib retracement level of the major decline from the $255 high to $226 low. The price traded close to the $250 level but it struggled to continue higher. It tested the $248 level and the 76.4% Fib retracement level of the major decline from the $255 high to $226 low. At the moment the price is consolidating gains above the $240 level and the 100 hourly SMA. On the upside an initial resistance is at $248 and $250 above which the price might recover further. However the main challenge for the bulls is near the $255 level. If there is an upside break above $255 the price is likely to move into a positive zone. Conversely if the price fails to move above $250 or $255 there could be a fresh decline. Looking at the chart Ethereum price seems to be trading nicely above the $242 and $240 levels. As long as there is no close below $240 there are chances of a further upsides in the near term. Below $240 the price could retest the $233 pivot area or the $235 support zone. Hourly MACD – The MACD for ETH/USD is slowly moving in the bearish zone but with less negative signs. Hourly RSI – The RSI for ETH/USD is currently well above the 50 level and is correcting lower.

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Oops i did it again - FXStreet

You are in the middle of nowhere It’s embarrassing... This page does not seem to exist! This might be because you have typed the web address incorrectly please check the spelling.

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Oops i did it again - FXStreet

You are in the middle of nowhere It’s embarrassing... This page does not seem to exist! This might be because you have typed the web address incorrectly please check the spelling.

Read More(English)