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is bare and JPMorgan have jumped headfirst into the crypto market it seems companies in the same space are struggling to accomplish one of the most basic tasks for modern businesses opening a bank account on March 3rd 2019 report from Bloomberg reveals that many business owners of blockchain and cryptocurrency focused companies are having a hard time getting local banks to open business accounts for them entrepreneurs from the United States and Europe reports similar treatment from local banks with some of the establishments including HSBC Holdings plc and ironically Morgan Chase & Company why the suspicions as the report pointed out some of these issues can be boiled down to the fact that cryptocurrency is still a new and emerging industry and thus there is less trust from financial institutions towards it another industry that was reported to have been struggling with the same issue was the nasan cannabis industry some of these suspicions are based on genuine reasons according to Robbie haben a lawyer and professor at the University of Antwerp who co-authored a paper for the European Parliament on financial crime involving cryptocurrencies according to happen for every legitimate entrepreneur in the crypto industry there are many that merely want to use it as a front to evade taxes or scam people another contributing factor is the public attention that cryptocurrency has received for being involved in crime such as the Silk Road incident in 2013 and also its use for bribery and kidnapping purposes while there are many legitimate reasons for a crypto firm to open a bank account it is a much easier task for banks to issue a blanket ban on the industry than sort on a case-by-case basis there is also the cost issue for banks the law requires that banks be sure of the identity of those that give accounts to in some might field that it isn’t worth the cost to set up compliance systems regardless these practices do nothing for the growth of the industry and only serve to perpetuate the idea of the crypto industry being shady denying basic banking is madness impede sector growth and forces companies to get creative to solve the problem said Ben Sibley the head of brokerage and KB Group the banks are being overly prudent thanks for watching the Ohio Bitcoin dot-com Bitcoin News Channel today we appreciate you spending some of your valuable time with us disclaimer price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice neither Ohio Bitcoin comm nor the author is responsible for any losses or gains has the ultimate decision to conduct a trade is made by the reader always remember that only those in possession of their own private keys are in control of their own money if you enjoy this type of content please smash the like and subscribe buttons below it helps us to get more views thanks again see you with more Bitcoin headline news and analysis soon Bitcoin lightning Network hits 1,000 BTC capacity on its one-year anniversary Bitcoin lightning Network has surpassed 1000 BTC network capacity on its one-year anniversary the event highlights the layer to scaling solutions progression in the short span of only a year dock Bitcoin Lightning Network happy birthday one year ago on March 15th Lightning labs CEO Elizabeth Stark announced the first official beta implementation of the Lightning Network the solution saw support from Twitter CEO Jack Dorsey Tesla and SpaceX investor Bill Lee backing from computer giant Microsoft and other prominent members of the cryptocurrency community one year later the lighting network LN has gone a long way according to Ellen monitoring website 1ml the network’s capacity is 1050 6.83 BTC are more than 4.2 million dollars marking a 54 percent increase over the last thirty days alone the number of channels has also jumped with more than 47 percent in the last month currently standing at 39222 the number of nodes is seven thousand 381 seventeen point eight nine percent increased throughout the same period moreover the actual adoption of the ln is also making serious advances twitter CEO Jack Dorsey praised the scaling solution outlining that it’s only a matter of time for it to come to Twitter it’s not an if it’s more of a win how do we make sure that we’re getting the speed that we need in the efficiency and also gained massive attention thanks to an initiative by user HUD Lynott called the Lightning torch it aims to raise awareness of lightning networks benefits by passing around a snowballing payment around the globe instantly and at almost no cost Ellen’s not only good for micro payments network engineer Melek manikin a trio Ludvik also pointed out that liquidity also increasing as the BTC united states dollar exchange rate rises assuming current number lightning limits of sixteen point seven meters sot channel capacity and four point three meters HT l CS @ 4k BTC USD a channel can route up to 172 united states dollars at 40k BTC USD a channel can route up to 1720 United States dollars at 400 KB TC USD a channel can route up to 17,000 200 United States Dollars liquidity Rises with BTC USD exchange rate assuming current number lightning limits of sixteen point seven meters Sat channel capacity and four point three meters HT l CS @ 4k BTC USD a channel can route up to 170 to USD 84 T KB TC USD a channel can route up to 17 20 USD 8400 KB TC USD the channel can route up to 17 thousand two hundred United States Dollars liquidity Rises with BTC USD exchange rate Melek MA and uky a n @ real Ludvik March 16 2019 meanwhile Bitcoin BTC 0-0 has once again breached 4,000 dollars according to the head analyst at fund strict Global Advisors Tom Lee should it manage to maintain stability at around these levels bitcoins price might cross its 200-day moving average in the next five or six months and going to start looking technically like its back in a bull market have you used the Bitcoin lightning Network don’t hesitate to share your experience in the comments below [Music] [Applause] [Music] [Applause] [Music] [Music] [Music] [Music] allow [Music] [Music] [Music] it’s impossible I’m trying to tell you that what do you want you will continue to come our way a billionaire investor Warren Buffett is doubling down on his the coin criticism calling it a delusion that attracts charlatans blocked Shane is important but Bitcoin has no unique value at all Buffett told C and B C’s Becky quick in a squawk box interview Monday it is a delusion basically the Berkshire Hathaway CEO recently stated he’s sympathetic to optimists who bought the world’s largest cry / currency in the hopes that it would change their lives it attracts charlatans Buffett said if you do something phony by going out and selling yo-yos or something there’s no money in it but when you get into Wall Street this huge money bitcoin has lost more than 80 percent of its value since reaching a high near $20,000 at the end of 2017 the cry / currency was trading near three thousand seven hundred and eighty one dollars on Monday according to data from coin desk and other trusted Bitcoin news networks this price can also be viewed at Ohio Bitcoin Kong along with further news and analysis on Bitcoin and other cryptocurrencies and tokens Buffett has been a longtime critic of cryptocurrency he referred to Bitcoin recently as probably rat poison squid ahead of the 2018 Berkshire Hathaway and your shareholder meeting a mirage not a currency and tulips are among the descriptions Buffett has used for Bitcoin according to C and B C’s Warren Buffett archive what do you think about Warren Buffet doubling down on his stance on Bitcoin please let us know in the comments below thanks for watching the Ohio Bitcoin calm Bitcoin news channel today we appreciate you spending some of your valuable time with us disclaimer price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice neither a ohio bitcoin calm nor the author is responsible for any losses or gains as the ultimate decision to conduct a trade is made by the reader always remember that only those in possession of their own private keys are in control of their own money if you enjoy this type of content please click the like and subscribe buttons below it helps us to get more views please smash that subscribe button thanks again stay tuned and we will see you in the next video with more Bitcoin headline news and analysis soon blockchain to be integrated into facebook login Facebook CEO Mark Zuckerberg reveals in an interview with Jonathan Zittrain a professor at Harvard that he’s willing to put the login on the blockchain Zuckerberg revealed that the technology could give the social media users cell powers when using and giving information access to third-party apps in May 20 18 the media giant formed a blockchain team headed by David Marcus ex vice president of messenger the primary objective of the team was to explore the best techniques to leverage blockchain technology with social network dot like many other companies Facebook is exploring ways to leverage the power of blockchain technology a spokesman revealed dot Facebook to create its own cryptocurrency last year the meteor giant was also delving into the possibility of creating its own digital currency for payments but this is the first signal that the company could incorporate blockchain as part of its login and data sharing system dot in an eye interview Zuckerberg revealed confirmation was her use of the technology that is greatly interested in even though he hasn’t discovered the best way for this to operate the suggested system would substitute Facebook Connect with distributed ledger technology dot the system will enable users to select which apps to give access to and also set the limit of data shared various third party services are already designing similar systems to safeguard individuals personal information but joining the bandwagon would be a substantial change in the field dot Zuckerberg further explained dot you basically take your information you store it on some decentralized system and you have the choice of whether to log in in different places and you’re not going through an intermediary there’s a lot of things that I think would be quite attractive about that dot in December Facebook began a struggle of hunting blockchain technology specialists to work on its new project as reported by Cornell there has been much hype on the growing of startups and initial coin offerings established monthly and this triggers the meteor giant to join the trend if you enjoy this type of content please click the like and subscribe buttons below it helps us to get more views thanks again see you with more Bitcoin headline news and analysis soon Bitcoin mining proof of work and the reinvention of energy financial markets blocked shame-based innovations are as much about new technology as they are about new concepts of governance in particular the continued proliferation of proof-of-work power consensus has the potential to fundamentally change the structure and incentives of the energy markets by translating physically trapped energy into global and digital immobile value the energy economics of production and distribution may change one of the most common misconceptions about the blockchain and digital assets space is that we witnessing a technology-driven revolution while the technology paradigm of distributed Ledger’s DL T’s certainly brings incremental innovations to the table mainly increased standardization and electronification arguably the big transformational innovation comes from new forms of distributed governance and incentive mechanisms dural innovations that drive blockchain and digital asset systems technology and governance it is perhaps not surprising that those who follow this space spend a significant amount of their time on governance and durability of incentives a decade in since the launch of the Bitcoin network and the introduction of prove their work Pawel consensus numerous arguments have been made and fiercely debated at its core proof of work power is an incentive mechanism designed around the consumption of energy in exchange for a reward from securing a global distributed data ledger so long as securing this ledger the blockchain rewards someone with economic value that is worth more than what they put in the incentive works a wise person once said show me the incentive I’ll show you the outcome this deceivingly simple incentive has birthed new industries e.g krypter mining and has the potential to trigger knock-on effects for global energy systems and markets as proof of work consensus mechanisms mature traditional paradigms advocated in energy systems engineering energy economics and energy financial markets eg power trading project financing green finance purchase power agreements could fundamentally change this article explores some of the context and significance for these changes split across three sections section one understanding the very basics of proof-of-work power and mining section two power and energy systems engineering and energy economics section three implications for energy markets understanding the very basics of proof-of-work and mining to set the appropriate context for the rest of the article it is important to understand the very high-level basics of proof-of-work power and crypto mining the basics of the proof-of-work process is to convert energy something which is globally distributed and available in various formats / quantities into a digital liquid and mobile form of economic value represented in the form of a cryptocurrency / token example Illustrated for the Bitcoin network the phrase proof-of-work refers to the fact that work in the form of energy consumption which has real costs is expended and converted into another form of economic value Bitcoin or other tokens institutions that participate in the proof-of-work process are all miners miners runs specialized hardware / equipment to solve a cryptographic puzzle e.g sha 256 in the Bitcoin network those that can configure their mining operation to solve the puzzles and the fastest time while incurring the least amount of costs will have profitable businesses this is not dissimilar to other types of energy in manufacturing eg in the oil and gas industry except that the final economic good being manufactured is digital therefore so long as people ascribe a nonzero value to the tokens being mined e.g bitcoin there is an economic incentive to mine refer to an earlier article on non-sovereign assets for y tokens may have nonzero value miners do not necessarily need to believe in the principles of the block chains they are helping to secure through mining in fact they can be 100% agnostic and mine the block chains that the market deems to be most valuable e.g the mined tokens that the market will pay them the most for in many ways this is the beauty and elegance of proof of work this property and incentive could have profound implications for those who study and work in the energy sector all away from exploration and production refining and distribution to energy financial markets and policy power and energy systems engineering and energy economics back in university i majored in chemical engineering in my final year i took a course called energy systems engineering which would proceed to have a major impact on my life the point of the course was to design and analyze energy systems that could technologically supply sufficient energy to meet the round-the-clock demands of customers of a given market while also being economically and financially viable the basics of energy systems engineering matching supply and demand by configuring the optimal energy iMix matching supply and demand in a nutshell the key to understanding the complexity of energy systems revolves around matching the profile of energy supply much energy can be produced in a given physical location at a given point in time versus the profile of energy demand how much energy does a community need in that same location at a given point in time the energy mix based on what technologies and methods are available reflect a complex optimization exercise in addition to supply and demand other real-world constraints can be overlaid including but not limited to things like environmental factors e.g burning coal releases more co2 versus burning natural gas versus running a wind farm build / Deka missioning factors e.g building a nuclear power plant requires building 100-year financial reserves for future teardown life cycle operation factors e.g different types of ongoing servicing / maintenance required for upkeep of different technologies from carbon-based to carbon free one of the main focuses of many energy systems engineering exercises today is to try and maximize the use of renewable carbon free sources political developments like that UN’s sustainable development goals / SDGs and the Paris climate agreement have further supported this however the challenge with achieving this often boils down to the inherent economics arising from renewable energy production the challenges most commonly cited are twofold one most renewable energies either are to intermittent and/or to two geographically limiting as a result the economics alone may not always incentivize development depending on where you live in the world to solve this problem a number of solutions have been proposed from government subsidies and purchase power agreements to technology R&D to develop better energy storage each have their own pros and cons the common thread across these solutions is that none can immediately address the issues we face at the scale needed at least not yet further complicating the matter is the high degree of global political coordination required to even take baby steps thought given the urgency as estimated by some to change our energy system there is a risk in relying on global political consensus to drive progress proof of work is a potential market driven bridge solution a potential bridge mechanism to kick-start the longer term solutions could be to leverage proof of work based mining mechanisms proof of work presents new potential pathways for the energy sector to monetize energy production and unlock it from its historical physical constraints in particular IBM makes quiet entry into the crypto custody space the companies won’t be storing cryptocurrencies and tokens themselves but are offering tools for others to do so shuttles chief investment officer Brad Chun explained that their potential users include banks brokers custodians funds family offices and high net worth investors who want to do self custody as well as exchanges he said we have a list of selected clients that we are launching limited service with this month the service is not open to the public yet and there is a wait list to get into our beta much like other institutional players in this growing space shuttle has started small offering its solution to a hand-picked list of clients that it believes can handle the cryptocurrency stress unlike the cold storage solutions the new custody service from shuttle and IBM holds the private keys in a device that is separate from the network Chung says that the use of these arrangements has been historically used to reduce the chance of an attack but it is technologically a little oxymoronic while enterprises want the connection with customers and want to offer a secure setting to make assets readily available this cold storage from shuttle has created a system that could potentially be more secure the solution is built on a hardware security module that is entirely tamper proof later Chung noted that there is always some kind of compromise between security and efficiency but this product is not like traditional cold storage options the keys remain encrypted in multiple layers storing backups with existing disaster recovery and backup processes in doing so the IBM cloud solution is more prepared for a future in digital assets once a particular critical layer is available then the custodian solution will be available for all businesses even in real estate and identity sectors custody a growing trend this underscores the industry trend of custody of digital assets per previous reports it has been officially confirmed that fidelity digital asset services FDA s the first fully fledged crypto platform backed by Wall Street has gone live just for reminder fidelity digital assets a company established by fidelity has launched cryptocurrency custody and trade execution services currently it is available now only for selected customers with the customer base expected to expand in the near future Tom Jessup a former Goldman Sachs executive turned head of FDA S explained that his brainchild offerings are live for a select list of eligible clients Jessup added that at the moment the platform only supports Bitcoin and will be staving off its verdict on ethereum due to impending blockchain upgrades the director of IBM’s Z as a service cloud solution Rohit badlani also commented on this crypto custody solution he said for Dax the on premise pervasive encryption capabilities offered by IBM Linux and was a key differentiator in choosing IBM as the most secure platform for their offering traditionally crypto custody was something that only wallet makers are crypto exchanges used to provide however of late a number of tech firms have

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