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Singapore’s Prime Minister Lee Sen-Long revealed that a blockchain platform attempted to sell cryptocurrency by stealing his Twitter profile information.
Prime Minister Lee said through his Facebook official account on the 3rd, “The people who created this (blockchain) site are anonymous, but through a public tweet, I requested that my name and photo be immediately deleted from the site.”
In a Facebook message, Prime Minister Lee urged, “Do not be vigilant and always be alert when visiting cryptocurrency platforms.”
“It should be borne in mind that dealing with an organization or institution not regulated by the Monetary Authority of Singapore (MAS) (which corresponds to the central bank) is not subject to legal protection from the regulatory authority (MAS).”
If you look at Prime Minister Lee’s Facebook message, the blockchain platform is a site that trades a new type of cryptocurrency called’Bitclout’. Bitcloud seems to have made the value of the so-called’creator’, which has high social media influence, into cryptocurrency.
If you look at the photo uploaded along with the Facebook message that Prime Minister Lee posted, he created his own Creator Coin and owned 27 coins, the value of which is $9800. It is also stated that the account is managed by the Singapore Prime Minister’s Office.
News1 It is written with content provided through <�News Connect>.
The “best” time for Bitcoin is the “worst” time for everyone.
Original title: “The Year of Bitcoin”
Written by: Pantera Capital
On March 16, 2021, Pantera Capital, a top investment institution, published a monthly report ” Bitcoin Coming Of Age “, which analyzed the future expectations of Bitcoin and Ethereum, including the valuation of Bitcoin and why Ethereum underestimated.
Pantera Capital, as the top capital focusing on investing in the field of blockchain technology, can see Pantera Capital on every track, from public chains to protocols, from Layer 2 to applications. Every month, Pantera publishes a monthly report to conduct in-depth discussions on the market environment, trends, and industry development.
In the March monthly report, Pantera gave a deeper understanding of Bitcoin’s valuation and scarcity. Rhythm BlockBeats translated the opinions on Bitcoin in the monthly report, hoping to help investors.
The following is the Bitcoin part of “Bitcoin Coming Of Age”:
Dear investors:
Last year, when the virus began to affect us all, I wrote in my March 2020 investor letter:
“Bitcoin was born in the financial crisis. Now it has just come to his prime.”
When I was a bond trader, I realized that something was upside down. The “best” time for bonds is the “worst” time for everyone. A recession is the “best time” for bonds.
Unfortunately, I think this is happening in our cryptocurrency market.
As the government continues to increase the number of banknotes, people need to use more banknotes to buy a fixed amount of goods, such as stocks and real estate, but the government will ignore the money entering these areas, at least I think they will. But the result is that this will also inflate the prices of other things, such as gold, Bitcoin and other cryptocurrencies.
The United States entered this crisis with an unprecedented structural deficit. Expenses are 31% more than income. Before the emergence of the SARS-CoV-2 (new crown) virus, the Congressional Budget Office estimated that the deficit would exceed $1 trillion. It may now be three times as expected.
“1 billion spent here, 1 billion spent there, and soon this will become a huge sum of money.”
—U.S. Senator Everett McKinley Dirksen (Everett McKinley Dirksen)
Now that we have reached the trillion-dollar level, needless to say, the deficit must have a positive impact on the prices of things that cannot be increased at this time, similar to stocks, real estate, and cryptocurrencies. In other words, the exchange rate of the BTC/USD trading pair will rise.
The price of Bitcoin may set a new record in the next twelve months. This will not happen overnight. My guess is that it will take institutional investors 2 to 3 months to process their current portfolio. It will take 3 to 6 months to research new opportunities, such as bad debts, special circumstances, cryptocurrencies, etc. Then, when they begin to allocate assets, these markets will really start to take off.
All this has happened, it took months to stabilize, and it took months to regain strength. The firepower is now fully on.
I have gone through multiple cycles in these 35 years, and my trading instinct tells me that the price of encrypted assets will enter a period of rising.
We will see higher prices before the end of this cycle.
Price prediction through halving and S2F model
In the April 2020 letter , we announced the analysis of the impact of the Bitcoin halving event on the price of Bitcoin through the S2F (Stock to Flow ratio) model.
We predict that if the impact of the Bitcoin halving is similar to the historical one, it will increase along the following monthly path:
Bitcoin is now ahead of our forecast for April 2020—it will reach $115,000 this summer.
inflation
“In a sense, inflation is a ubiquitous monetary phenomenon that occurs when monetary increments are higher than production output.”
—Milton Friedman (Milton Friedman), 1970, “The Counter-Revolution of Monetary Theory”
Inflation is a ubiquitous monetary phenomenon, but not all inflation is the same.
Investors often ask why we can’t see inflation? The answer is: it all depends on where you look.
CPI (Consumer Price Index) does not show inflation. The Fed’s CPI targets mainly include those things with unlimited supply-flat-screen TVs, flip-flops, etc. With the severe weakness of the global economy, it will be difficult for people to see inflation on these things. This is why I firmly believe that the Federal Reserve and other central banks will continue their operations.
The epidemic ban and stimulus policies have allowed consumers in rich countries to save a lot of savings and backlog a lot of demand. In the United States, the savings rate has soared from 7.6% in 2019 to 16.0% in the third quarter of 2020 and 13.4% in the fourth quarter.
Things that cannot be easily increased will have large-scale inflation: gold, real estate, Bitcoin, etc. The best proof of this argument is the stocks in the S&P 500 index. Revenue in the second quarter of 2020 was 32.3% lower than the same period last year. However, the Standard & Poor’s 500 Index has hit a record high. This is entirely a monetary phenomenon.
The number of shares is limited. However, Fed Chairman Powell made it clear that quantitative easing will be unlimited. He went on to say:
“When it comes to loans, the matter of running out of ammunition will not happen.”
—Jerome Powell (Jerome Powell), March 26, 2020
The U.S. budget deficit for fiscal year 2020 is $14,500 per adult. From one perspective, this is 1,000 times more than a dose of vaccine ($14.50).
Unlimited dollars
What happens when you flood the market with a lot of goods? The price of goods will fall. Just as the price in USD:
This is the Fed’s inflation-adjusted and trade-weighted dollar value. This reminds us of Econ 101’s supply and demand diagram.
Bitcoin’s monetary policy is designed from a mathematical perspective-no central agency can carry out “quantitative easing.” Some people may change the old saying to use “Bitcoin” instead of “Land”:
“Buy land; no one can reproduce land.”
–Mark Twain
Morgan Stanley talks about crypto assets
“I have been preaching Bitcoin for ten years. In the early days, it was like preaching in the desert. But in recent years, it has become more and more like preaching to a choir, which has also made preaching more and more interesting, and The choir is also slowly growing. Now the singing of the choir has become more and more beautiful-I immediately let them sing by themselves.”
–Morgan Stanley, Ruchir Sharma, Head of Emerging Markets and Chief Global Strategy Officer, February 9, 2021
Why cryptocurrencies are coming out of the shadows
“The government slowly realized this revolution. When the epidemic broke out, the U.S. dollar ruled the world and was used as the most popular medium of international trade. The currencies of other countries were anchored to the U.S. dollar. Most central banks used it as a “reserve currency. “. Before the United States, only five major countries enjoyed the coveted “reserve currency” status, dating back to the mid-1400s: Portugal, then Spain, the Netherlands, France, and the United Kingdom. These reigns lasted an average of 94 years. At the beginning of 2020, the U.S. dollar’s hegemony lasted for 100 years, which gave us reason to question how long the U.S. dollar can dominate…”
“In addition, under the leadership of the Federal Reserve, major central banks are printing money frantically to keep the economy running during the epidemic, which has also weakened people’s confidence in all sovereign currencies. 20% of the circulating U.S. dollars are in 2020 The issuance of printed money greatly increases the attractiveness of Bitcoin. Bitcoin is designed to gradually “mining” new coins and the total supply is limited. In fact, various central banks are unintentionally working together to promote the development of cryptocurrency. For a long time, cryptocurrency has been considered a decentralized, democratic alternative to the dollar…”
“Bitcoin is not only the hottest investment option in 2020. Looking back at the past 10 years, it is also the hottest investment target, with an average annual growth rate of more than 200%. Bitcoin has exceeded a trillion market value. But this is a hedge against traditional inflation. Assets, such as gold, are still very small compared to gold. The global gold market has reached 12 trillion U.S. dollars. This also leaves a lot of room for Bitcoin to grow.”
“The most irresistible and practical application of cryptocurrency is reflected in the $470 billion remittance market-explosion-proof workers can send money back to low- and middle-income countries. These transfers usually take 1 to 5 days and cost 5% of the total remittance. To 9%. Nowadays, payment systems using cryptocurrency can complete the remittance in a few seconds, and the fee is only a few cents.”
Source link: www.theblockbeats.com
Former Canadian Prime Minister Stephen Harper and Bitcoin | Maps.Me to Offer DeFi to 140 million Users | China’s BSN CBDC Integration and 2021 Roadmap | AC Milan Launches Fan Token with Chiliz and Socios.com | Tomochain Updates | Enjin Partners With Miss Bitcoin for Japan NFT COVID Charity | Mitsubishi and Coinbase Crypto Investments | Livecoin Exchange Shut Down After December 2020 Hack | Big Institution are ONLY Interested in Bitcoin
#bitcoin, #defi, #crypto
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⏰ Timestamps
0:00 Introduction
2:17 Former Canadian Prime Minister and Bitcoin
5:34 Maps.Me to Offer DeFi to 140 million Users
7:24 China’s BSN CBDC Integration and 2021 Roadmap
9:08 AC Milan Launches Fan Token with Chiliz and Socios.com
12:20 Tomochain Updates
12:50 Enjin Partners With Miss Bitcoin for Japan NFT COVID Charity
13:41 Mitsubishi and Coinbase Crypto Investments
14:51 Livecoin Exchange Shut Down After December 2020 Hack
15:44 Big Institution are ONLY Interested in Bitcoin
References:
https://cointelegraph.com/news/former-canadian-prime-minister-names-bitcoin-as-possible-reserve-currency
https://cointelegraph.com/news/sbf-leads-50m-funding-round-to-bring-defi-to-maps-me-s-140m-users?utm_source=Telegram&utm_medium=social
https://defipulse.com/
https://www.coindesk.com/chinas-blockchain-based-service-network-to-integrate-central-bank-digital-currency
View at Medium.com
https://cointelegraph.com/news/ac-milan-employs-blockchain-to-reach-450-million-fans-amid-covid-lockdowns
View at Medium.com
https://missbitcoin.medium.com/miss-bitcoin-enjin-partner-to-launch-japans-first-charity-nft-project-1d35c1c8b4ff
https://cointelegraph.com/news/mitsubishi-and-tokyo-tech-create-blockchain-system-for-p2p-energy-trading?utm_source=Telegram&utm_medium=social
https://www.coindesk.com/coinbase-joins-6m-funding-round-for-licensed-middle-east-exchange-rain-financial
https://cointelegraph.com/news/after-alleged-hack-russian-crypto-exchange-livecoin-shuts-down
http://livecoin.news/
https://www.theblockcrypto.com/linked/91500/big-institutions-are-only-interested-in-bitcoin-says-nydig-ceo
https://twitter.com/Scaramucci/status/1350921538762137601?s=20
https://twitter.com/cz_binance/status/1351019027745959938?s=20
Disclaimer:
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Please do your own due diligence and rating before making any investments and consult your financial advisor. The information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
NASSAU, Bahamas, Dec. 30, 2020 /PRNewswire/ — Doo Prime, an international pre-eminent online broker successfully secured a one-year professional indemnity (PI) insurance for Doo Prime Bahamas Limited, effectively from December 10, 2020.
This PI insurance is an acknowledgement of Doo Prime as a licensed professional, and their dedication in complying with the higher standards of practice in the online trading industry.
Through this PI insurance, the aggregate limit of liability shall be US $500,000.00, being the insurer’s maximum liability exposure to all claims during the PI insurance policy period.
The insurance, often referred to as professional liability insurance or PI insurance, will cover any legal costs and expenses incurred by Doo Prime and any loss or damages incurred as a result of Doo Prime’s liability towards customers.
Moreover, the framework of PI insurance originates from internationally applicable standards of practice, knowledge, and ethics.
Besides, PI insurance shall be governed by and construed in all respects following the laws of Puerto Rico, and the parties agree to submit to the non-exclusive jurisdiction of the courts of Puerto Rico.
Doo Prime prides itself as a global leading online broker, strongly adhering to values in ensuring utmost security and safety for all our clients.
About Doo Prime
Doo Prime is under the Doo Group with operation centers in Hong Kong, Dallas, Singapore, Kuala Lumpur, and other regions. Our main ethos is to provide professional investors with global financial instruments (CFDs) on our trading platform.
Doo Prime holds the financial regulatory licenses in Mauritius and Vanuatu, which has granted the opportunity to deliver the finest trading experience to more than 18,000 professional clients, alongside with managing a massive trading volume of billions of dollars monthly.
By the virtue of robust technological innovation by the group, Doo Prime has achieved seamless connection with the global trading market, providing thousands of CFD products on multiple trading terminals such as MT4, MT5, TradingView, InTrade, and more, covering Forex, Precious Metal, Energy, Indices, Securities and Futures, allowing clients to invest globally with one click.
With a solid vigorous group background, competitive trading cost, convenient deposit and withdrawal methods, plus 24/7 multilingual customer service, Doo Prime is committed to become private veteran broker.
Website: www.dooprime.com
SOURCE Doo Prime
NASSAU, Bahamas, Dec. 30, 2020 /PRNewswire/ — Doo Prime, an international pre-eminent online broker successfully secured a one-year professional indemnity (PI) insurance for Doo Prime Bahamas Limited, effectively from December 10, 2020.
This PI insurance is an acknowledgement of Doo Prime as a licensed professional, and their dedication in complying with the higher standards of practice in the online trading industry.
Through this PI insurance, the aggregate limit of liability shall be US $500,000.00, being the insurer’s maximum liability exposure to all claims during the PI insurance policy period.
The insurance, often referred to as professional liability insurance or PI insurance, will cover any legal costs and expenses incurred by Doo Prime and any loss or damages incurred as a result of Doo Prime’s liability towards customers.
Moreover, the framework of PI insurance originates from internationally applicable standards of practice, knowledge, and ethics.
Besides, PI insurance shall be governed by and construed in all respects following the laws of Puerto Rico, and the parties agree to submit to the non-exclusive jurisdiction of the courts of Puerto Rico.
Doo Prime prides itself as a global leading online broker, strongly adhering to values in ensuring utmost security and safety for all our clients.
About Doo Prime
Doo Prime is under the Doo Group with operation centers in Hong Kong, Dallas, Singapore, Kuala Lumpur, and other regions. Our main ethos is to provide professional investors with global financial instruments (CFDs) on our trading platform.
Doo Prime holds the financial regulatory licenses in Mauritius and Vanuatu, which has granted the opportunity to deliver the finest trading experience to more than 18,000 professional clients, alongside with managing a massive trading volume of billions of dollars monthly.
By the virtue of robust technological innovation by the group, Doo Prime has achieved seamless connection with the global trading market, providing thousands of CFD products on multiple trading terminals such as MT4, MT5, TradingView, InTrade, and more, covering Forex, Precious Metal, Energy, Indices, Securities and Futures, allowing clients to invest globally with one click.
With a solid vigorous group background, competitive trading cost, convenient deposit and withdrawal methods, plus 24/7 multilingual customer service, Doo Prime is committed to become private veteran broker.
Website: www.dooprime.com
SOURCE Doo Prime
Former Israeli Prime Minister Ehud Barak praised blockchain as an important technology but thinks bitcoin is a Ponzi scheme that should be avoided. Barak — who was prime minister from 1999 to 2001 — made the remarks at the Globes Most Promising Startups event…
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