This Top REIT Pays an Incredible 10%, and It Just Hit Our Buy List


You always hear that the market is “efficient,” but that’s just not the case.

In an “efficient market,” there are very few opportunities for outsized gains. But you and I both know there are plenty of moneymaking opportunities in this market.

The best opportunities come from inefficiencies and overreactions.

Plunging bond yields have created huge opportunities for REITs.

Many of the best dividend-paying REITs are trading at high prices at the moment.

Despite the rich prices in the REIT space, I still love the idea of buying REITs for your portfolio in an environment of falling interest rates. In just a moment, we’ll show you our top REIT of the week, which pays an astounding 10% yield.

If rates fall further, valuations of REITs will be even higher than they sit today.

Watch Now: Serial entrepreneur Neil Patel reveals how to achieve the American Dream… for as little as $50. Click here

We still have a long way to go before rates go negative in the States. But some, like bond complex Pimco, are increasing the odds of negative rates on a day-by-day basis.

Imagine then the joy I experienced when finding a REIT that pays a massive dividend and trades for a very reasonable valuation.

Frankly, I’m overwhelmed.

The only way this happens is inefficiency.

Here’s the top REIT I’m referring to…

This Top REIT Will Pay You a Whopping 10%

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World Bank Raises Additional AUD $50M Via Blockchain Bond

bitcoin world bank

Blockchain proves once again that it is a must-have technology for financial institutions at all levels. Last week, the World Bank raised an additional AUD 50 million ($33.8 million) through its blockchain-based Kangaroo bond, called bond-i.


Bond-i Sale Co-Managed by CBA, RBC, and TD

The bond tap, i.e. the reopening of the bond initially issued in August 2018, was fully handled on the distributed ledger technology (DLT). Thus, the World Bank’s debt instrument became the first bond issued, allocated, sold, and managed on blockchain.

The bond was sold via the Bond-i platform, a blockchain-based bond issuance infrastructure jointly developed by the World Bank and the Commonwealth Bank of Australia (CBA). The latter was also a lead manager of the bond tap, along with RBC Capital Markets (RBC) and TD Securities (TD). The tap had new and existing investors.

Last year, the World Bank commissioned CBA to handle the blockchain-based bond after consulting with the market for about two weeks. The bond with a two-year maturity raised AUD 110 million at the time.

In May of this year, CBA and the World Bank added a new feature to the platform. It allows Secondary Bond Trading, thus opening the door to the last week tap.

The platform is part of the World Bank’s broader vision to leverage the benefits of innovative technologies like blockchain. The international financial institution launched the blockchain innovation lab back in 2017. The goal is to implement the DLT in various areas, such as supply chain management, cross-border payments, land administration, health, education, and carbon market trading.

Andrea Dore, head of funding at the World Bank, commented:

We are happy to see the continued, strong support and collaboration from investors and partners. The World Bank’s innovation and experience in the capital markets is key to working with our member countries to increase digitization to boost productivity in their economies and accelerate progress towards the Sustainable Development Goals.

World Bank’s Platform Reviewed by Microsoft

According to the joint statement by the World Bank and CBA, Microsoft reviewed the Bond-i platform independently. The Windows maker analyzed the platform’s architecture, security, and resilience. Also, Hong Kong-based law firm King & Wood Mallesons was a counsel on the bond issue and came with legal advice during its implementation.

As per CBA, the platform relies on blockchain for all bond’s main procedures, including launch, bookbuild, allocation, and management. It has the following features:

  • Automated bond auction, bookbuild, and allocation
  • Electronic bid capture
  • Live updates and increased visibility based on participant’s permissions
  • Auditable and immutable transaction record for probity and operational risk management
  • Permissioned network of authorized participants

Do you think blockchain will secure a decent place in the financial world? Share your expectations in the comments section below!


Images via Shutterstock

The post World Bank Raises Additional AUD $50M Via Blockchain Bond appeared first on Bitcoinist.com.

Source: Bitcoininst

Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone

Markets Update: Prices Drop as Crypto Sentiment Plunges Below the Fear Zone

Cryptocurrency markets fell hard on August 21 following the $700 price drop bitcoin core (BTC) saw during the early morning trading sessions. Most digital assets have lost 2-8% in value as the overall market valuation of all 2,000+ coins has plunged to $263 billion. Crypto price movements have been following a trend of strong volatility, having been turbulent for several weeks.

Also read: The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt

The Top Digital Currency Markets See Percentage Losses

BTC and a slew of other digital assets dropped significantly on Wednesday. At the time of publication, there’s been around $59 billion worth of daily trades happening between the most popular coins. BTC holds the top position and commands 69% of the $263 billion dollar market cap. At the moment, BTC is hovering at around $10,124 per coin and has an overall market valuation of about $181 billion. The top fiat currencies traded with BTC on Wednesday include JPY and USD and tether (USDT) captures more than 66% of all BTC trades. BTC has lost 5.8% over the last 24 hours and 2% in the last seven days.

Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone

The second highest valued market cap belongs to ethereum (ETH) where each coin is being swapped for $185 per coin. ETH is down 5.8% today and there’s $7.4 billion in global ETH trades. Following ETH is ripple (XRP) which has seen the least volatility over the last few weeks. One XRP is trading for $0.26 and markets are down 3.3% today and 4.9% for the week. Lastly, litecoin (LTC) commands the fifth-largest valuation and each LTC is trading for $72. LTC has dropped only 3.5% today but lost more than 8% this week.

Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone
On August 21, 2019 during the price slide, tether (USDT) is a dominant pair for every major cryptocurrency. Did you know you can now easily buy Bitcoin with a credit card? Visit our Purchase Bitcoin page where you can buy BCH, BTC, ETH, XRP, BNB, and LTC securely, and keep your BCH and BTC secure by storing them in our free Bitcoin mobile wallet.

Bitcoin Cash (BCH) Market Action

Bitcoin Cash (BCH) still holds the fourth position and each BCH is trading for $299. BCH has an overall market cap of around $5.3 billion and about $1.39 billion in trade volumes. Today BCH is down more than 5% and over 8% over the last seven days. Daily transactions (txn) this Wednesday have been around 43,000 and BCH has had an average of about 40K txn every day since April. BCH is the sixth most traded digital asset on August 21, just below EOS and above XRP. Tether (USDT) captures around 58% of all BCH trades which is followed by BTC (22.5%), USD (8.4%), ETH (6%), and KRW (2.5%).

Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone

The Verdict: Short-Term Crypto Sentiment Shows Extreme Fear While Long-Term Believers Are Still Cheerful

Despite the falling prices, traders and crypto enthusiasts on social media are still optimistic about digital currency markets and BTC prices. Popular Twitter trader Jacob Canfield says the charts look like a “pretty classic rising wedge that hit resistance.” “First support zone didn’t hold up price at all — Ideal buy zone $8900-$9100 if we can get there,” Canfield concluded on Wednesday. Meanwhile, Mark Mobius, the founder of Mobius Capital Partners, told the press this week that cryptocurrencies like bitcoin are “psycho currencies.” “I call them psycho currencies because it’s a matter of faith whether you believe in bitcoin or any of the other cyber-currencies,” Mobius explained during an interview.

Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone
“[The crypto surge] began with the European Central Bank and was followed swiftly by a U-turn into interest rate cuts from the Federal Reserve,” Henny Sender said this week.

Meanwhile, traditional markets like stocks and bonds have been just as shaky and some people believe that institutional and retail investors are hedging macro risks with digital currencies. The Financial Times’ chief correspondent Henny Sender wrote a column for the Nikkei Asian Review which suggests central banks are pushing investors toward cryptocurrencies. “Central banks drive demand for bitcoin by devaluing their currencies,” the reporter detailed. “Cryptocurrency, wildly popular in China, is now a safe-haven asset.” Sender’s editorial continued:

Central banks have played a big role in driving this latest rally in crypto. That is because they have adopted policies which amount to competitive currency devaluations in the name of reflating their economies, in response to protectionist policies as the trade war leads to slower growth everywhere.

Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone
Today the current Fear & Greed Index is an 11, which points to “extreme fear” in regard to the crypto community’s emotions and sentiments.

For now, BTC, ETH, BCH and the rest of the top digital currencies are feeling the pressure of weak hands, day-trading scalpers, and short-sellers. Even with a large number of optimistic hopium huffers on crypto Twitter, people are uncertain of what will happen next according to sentiment data. The current Crypto Fear & Greed Index, which analyzes the emotions and sentiments from different sources and crunches them into one simple number, is low today. At press time, the Fear & Greed Index for BTC and other popular digital assets rests at “extreme fear” or #11. The index was in “fear” (39) yesterday, where it has spent the entire month.

Where do you see the price of bitcoin cash and the rest of the crypto markets heading from here? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com 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 the private keys are in control of the “money.”


Images via Shutterstock, Crypto Fear & Greed Index, Trading View, Bitcoin.com Markets, and Coinlib.io.


Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

The post Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone appeared first on Bitcoin News.

Source: Bitcoinnews.com

Anthony Pompliano Says it Only Took Bitcoin 10 Years to Get to the G7

Bitcoin G7 nations

The G7 is meeting next week to explore the regulations around Bitcoin and other cryptocurrencies. Unsurprisingly, Anthony Pompliano is not worried.


G7 to Discuss Bitcoin

Next week, the G7 is scheduled and this time the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States will set aside some time to discuss Bitcoin and digital currencies at length. 

Previously, the group had discussed the need for oversight and regulation within the nascent sector, but the final result amounted to each country developing their own regulatory frameworks or doing nothing at all. 

Earlier this week, Morgan Creek Digital Asset CEO Anthony Pompliano briefly spoke to CNBC’s Joe Kernen about Bitcoin’s upcoming second ‘debut’ before the G7. 

The digital asset analyst focused on the fact that in just 10 years Bitcoin went from a fringe token discussed by technology zealots on the internet, to a serious discussion topic amongst regulatory institutions across the globe. 

Regulations are Coming… According to the Trump Administration

As previously reported by Bitcoinist, U.S. President Donald Trump, Treasury Secretary Steven Mnuchin, and even Secretary of State Mike Pompeo, have issued official statements highlighting their opinions about Bitcoin and other cryptocurrencies. 

Pompliano believes that future regulations will likely target fiat onramps such as wallet providers and crypto exchanges. The analyst conceded that these targeted regulations “could definitely hurt in the short term” as they will weigh on sentiment and deter people from investing in cryptocurrency. 

Ultimately, Pompliano and many other analysts agree that regulations are something of an inconvenient truth. Nobody likes the idea of government oversight, regulation and tax compliance but in order for the sector to truly expand and mainstream regulations are required.

No Pain, No Gain!

Pompliano told CNBC presenter Joe Kernen that whatever regulations the G7 might cook up could it will “ultimately be a net benefit for Bitcoin in a long period”, as the asset will be more accessible to retail and institutional investors. 

The context and tone of next week’s meetings could cast a short-term bearish cloud over the crypto-market but Pompliano remains confident on Bitcoin’s long-term prospects.

The analyst pointed to the approval of Bakkt by the CFTC as proof that Bitcoin will continue to draw the interest of institutional investors. 

Do you think the G7 will develop a multinational crypto regulatory framework next week? Share your thoughts in the comments below! 


Images from Shutterstoc

 

The post Anthony Pompliano Says it Only Took Bitcoin 10 Years to Get to the G7 appeared first on Bitcoinist.com.

Source: Bitcoininst

Big Upcoming Dates For Bitcoin’s Diary That You Need to Know

bitcoin diary

Bitcoin has several big dates in the next couple of months which should be of interest to anyone with a stake in the network. Depending on how these pan out, we could well see renewed confidence and uptake, as well as another bull run. So what are we waiting for?


23 September – Bakkt Bitcoin Futures Launch

bakkt bitcoin

We learnt last week that after a regulatory quest which seemed to go on forever, Bakkt will finally launch its physically delivered Bitcoin futures product on 23rd September.

Back in May, the company got so frustrated by a lack of action by the Commodity Futures Trading Commission (CFTC) that it self-certified. This gave the CFTC 10 days to raise an objection, which was clearly too much to ask. The New York Department of Financial Services (NYDFS) recently came up with the regulatory goods for the custodial solution, so all systems are now go.

This is big news for Bitcoin as it opens the door to institutional investors and is a huge step forward for crypto industry legitimization in the US.

13/18 October – Bitwise/VanEck Bitcoin ETF Rulings

The Securities and Exchange Commission is another regulatory body that could hardly be accused of urgency in its decisions. It has been repeatedly delaying decisions on several Bitcoin exchange traded funds (ETFs) for over a year. Some gave up trying, but two have persevered knowing that, eventually, the SEC could delay no longer.

Well, this month we saw those final delays, meaning the final decisions on the Bitwise and VanEck ETFs must happen in October. Bitwise is due first, with VanEck following less than a week later, although the delays have often been announced together.

Of course, this doesn’t mean that either fund will be approved, but if one is then it could again remove another hurdle for institutional investors to move into the space.

28 October – Mt. Gox Rehabilitation Plan

Another long running saga in the Bitcoin world is the fallout from the 2014 hack and collapse of the MT. Gox exchange. Come 28 October, this too will see some form of resolution, as this is the final date for resolution plans to be submitted.

Every time we have seemed to be nearing resolution of this, another party will come out of the woodwork, with an often spurious claim on the funds. The latest such claim was from CoinLab, which rather audaciously suggested that it had suffered damages of $15 billion.

Seeing the victims of this heist finally compensated, will go a long way towards building confidence in an industry which often seems plagued by high profile hacks. By the end of October we should at least have a plan for this.

Which date are you most excited about? Let us know in the comment section below!


Images via Shutterstock

The post Big Upcoming Dates For Bitcoin’s Diary That You Need to Know appeared first on Bitcoinist.com.

Source: Bitcoininst

What the Past 28 Years Have Taught Us About Disruption

I’ve been a bit obsessed recently with the story of Shelly Pennefather. I didn’t know who she was until about a week ago. But once I heard her story, I haven’t been able to stop talking about it.

The Pennefather story, which you can read here in this terrific report by ESPN, is a tale of faith, family, sports, friendship and – believe it or not – disruption.

Pennefather was a terrific basketball player. She was an All-American at Villanova in the late ’80s. And she went on to play professional basketball in Japan. (The WNBA didn’t exist at the time.) Pennefather still holds the all-time scoring record at Villanova (for both men and women). And people who watched her play compared her to Larry Bird. She was that good.

But in 1991, just a few years into a very lucrative basketball career, Pennefather returned to the U.S., retired from the game and became a cloistered nun. Pennefather now goes by Sister Rose Marie. And here’s what her life as a cloistered nun is like:

The Poor Clares are one of the strictest religious orders in the world. They sleep on straw mattresses, in full habit, and wake up every night at 12:30 a.m. to pray, never resting more than four hours at a time. They are barefoot 23 hours of the day, except for the one hour in which they walk around the courtyard in sandals.

They are cut off from society. Sister Rose Marie will never leave the monastery, unless there’s a medical emergency. She’ll never call or email or text anyone, either. The rules seem so arbitrarily harsh. She gets two family visits per year, but converses through a see-through screen. She can write letters to her friends, but only if they write to her first. And once every 25 years, she can hug her family.

This year, she hugged her now 78-year-old mom for the first time in 25 years. It’s likely she will never hug her again. Her dad died in 1998. Sister Rose Marie sent a letter that was read at her father’s funeral.

I have immense respect for people of faith. Sister Rose Marie felt a calling and chose to live a life most of us struggle to understand.

I’m also incredibly curious about what Sister Rose Marie would think about the world she lives in today.

When Sister Rose Marie became a nun, the World Wide Web was still an experimental project at the European Organization for Nuclear Research (CERN).

People listened to music on CDs. Mixtapes were still a thing. Apple was an afterthought in the computing industry. People rented movies (on VHS!) from Blockbuster. We had “car phones,” not cellphones.

Pizza stores competed on how fast they could deliver. Starbucks was still a private company. Newspapers were immensely profitable. And General Electric was still a juggernaut.

The world is different now. And if I had to explain the past 28 years to Sister Rose Marie, I would tell her they’ve been one giant disruption story.

Almost every element of life has been disrupted. Between email, messaging and smartphones, communication is instant now. We now stream our music, movies and TV over the internet. Electric cars are here. Autonomous vehicles are becoming a reality.

Apple is now a luxury brand. Google, which didn’t even exist in 1991, is now a verb. Uber, Lyft and Airbnb have changed the face of transportation, travel and labor. Almost every restaurant delivers now. And Jeff Bezos, who launched Amazon in 1994, is one of the world’s richest people and the owner of The Washington Post.

As investors, we should learn from the past 28 years.

Life doesn’t stand still. Each year, thousands of companies are challenging the status quo and trying to disrupt business – and life – as we know it today. And the biggest winners are the most disruptive. Incremental change is nice and safe. But it doesn’t last. The companies that think big and dream big change the world. And they’re the most profitable investments.

So as an investor (particularly a startup investor), you should take a hard look at the companies you’re considering investing in. Are they disrupting big markets? Are they thinking big? Are they nimble? Are they competitive?

If they are, you should consider investing in them. If they’re not, learn from the past 28 years and pass. We’re living in a disruptive era. It’s time to get used to it.

Good investing,

Vin Narayanan

Senior Managing Editor, Early Investing

The post What the Past 28 Years Have Taught Us About Disruption appeared first on Early Investing.

Source: Early Investing

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt

Last year the World Bank and the Commonwealth Bank of Australia announced a permissioned Ethereum-based blockchain to facilitate the end-to-end issuance of bonds between financial partners. The Bretton Woods-created financial institution hopes to make debt capital markets far more efficient with a bank-to-bank blockchain network. At the same time, the World Bank’s bond scheme has been scrutinized for corporate and political collusion with global leaders and Fortune 500 multinational corporations.

Also read: Central Banks Worldwide Testing Their Own Digital Currencies

The World Bank’s Plans to Sell Debt via Blockchain

The World Bank wants to digitize bond markets and debt capital settlement on a private Ethereum blockchain. The project is led by three other large financial institutions in Commonwealth Bank of Australia (CBA), RBC Capital Markets (RBC) and TD Securities (TD). According to the World Bank and CBA’s blog post, the project had gathered $81 Million for the issuance of distributed ledger-based bonds in August 2018. This year, on August 16, the World Bank revealed the project’s partners increased the liquidity of the blockchain bond by more than $33 million. Essentially the bank uses the private blockchain to issue a digitized instrument of indebtedness called the Bond-i, an autonomous smart contract token system that pays coupon payments over a length of time. The technicalities of the blockchain platform were developed by CBA’s Innovation Lab’s Blockchain Centre and the bank has revealed that the “blockchain platform’s architecture, security, and resilience was conducted by Microsoft.” Additionally, on the legal side of things, the project is supported by the litigation firm King & Wood Mallesons.

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt
The World Bank was established in 1944 and is deeply rooted in Keynesian economics. Over the last year, the World Bank has been under scrutiny for participating in nepotism and corporate collusion, while also introducing a blockchain bond system built on a private Ethereum-based blockchain.

At its core, the project is very centralized with its permissioned distributed ledger only viewable by bank-to-bank associates, Microsoft, and a well-known law firm. Fundamentally, outside observers must take the World Bank and its partners’ press releases with a grain of salt. The ETH-like token of debt is in its initial stages and the $114 million locked into the project is mere pennies in comparison to what these banks play with when participating in debt capital markets worldwide. Eventually, the World Bank wants to include the institution’s annual lending of $50 billion to $60 billion. The asset manager Northern Trust and several Australian financial institutions and government entities participated in purchasing the Bond-i. With a two-year lifespan, the World Bank expects the Bond-i blockchain debt security to trade among buyers and sellers. Basically, the World Bank hopes to hide the fact that the institution’s bond scheme is inefficient because it only serves the bureaucrats and corporations, rather than countries buying the bonds.

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt
So far the World Bank and its partners have issued more than $114 million into the Bond-i experiment, but they eventually want to process $50 to $60 billion worth of debt capital on a blockchain.

The IBRD: Selling Debt to Governments to End Extreme Poverty Since 1944

In order to understand what the Bond-i project is, it’s a good idea to gain some knowledge of what the World Bank’s operations entail. The World Bank was introduced as the International Bank for Reconstruction and Development (IBRD) at the same time as the International Monetary Fund (IMF) was announced. The two financial institutions were created after the 1944 Bretton Woods conference, and the IBRD concept was designed by the project’s principal architect and leading economist John Maynard Keynes. At the time, economists called the period between 1944 and 1971 the Bretton Woods era and IBRD was meant to provide financing to developing nations in need of an economic boost.

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt
John Maynard Keynes (right) and Harry Dexter White were dubbed the founding fathers of both the World Bank bond scheme and the International Monetary Fund (IMF).

The whole concept was and still is deeply rooted in Keynesian Economics, a theory of total spending and using debt capital markets to affect the output of inflation. In essence, the IBRD is not much different than a loan shark who loans out zero to negative-interest credits and government bonds to countries in need. Despite the fact that spending and debt markets have produced high inflation rates, Keynesian economists behind the World Bank still believe it works. The World Bank says that the ultimate goal is to end extreme poverty by the year 2030, but so far it has only enriched fortune 500 companies, bankers, and politicians. As the Austrian economist Murray Rothbard once said: “It is easy to be conspicuously ‘compassionate’ if others are being forced to pay the cost.”

The Artificial and Insidious Bond Scheme Seriously Damages the Global Economy

This is because the global elite, politicians, world financiers, and the banking cartel are the only ones reaping the benefits of the World Bank’s debt selling scheme. Basically, the World Bank sells these bonds for real-world commodities and political influence and promises to pay bondholders interest or they promise to pay the full principal at a later maturity date. The biggest borrowers, who have secured bonds and loans through IBRD in 2018, include India ($859 million) and China ($370 million). In 1998, it was estimated that countries with very little economic resources owed the World Bank close to $2.5 trillion and the figure has risen more than $150 billion every year since.

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt

After the IBRD secures real assets and commodities from loaning out government bonds and credits, the central banks in the countries purchase the borrowed IBRD bonds from the government on the open market. This, in turn, increases the country’s money supply which then fuels inflation and rising prices attached to goods and services. The World Bank’s bond system is no different than the insidious mechanisms that jeopardize the global economy like fractional reserve banking and quantitative easing. The World Bank selling debt in the form of bonds so central banks can print more money has the same effect as the direct manipulation of interest rates.

“If the government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will,” explained Murray Rothbard of the growing credit and debt cycle in 1995. “As a result, this ‘inflation’ of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.”

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt

In the Midst of Selling Blockchain Bond Snake Oil, the World Bank Is Heavily Scrutinized for Nepotism

Despite the World Bank’s blockchain project being one of the highest-profile experiments of its kind, the institution has been under scrutiny for quite some time for allowing the growth of nepotistic behaviors. Last year, the bank was criticized for cronyism and corporate influence in a research report written by Rabia Malik and Randall Stone. The report explained that corrupt states skim development funds, technocrats manipulate statistics, and how bureaucrats participate in the political capture of international financial institutions (IFIs). Stone and Malik’s research shows that wealthier countries use the World Bank’s bond scheme to bolster their influence over political power.

“The World Bank withholds loan disbursements in order to build a reputation for enforcing conditionality, and multinational firms lobby for these funds to be released,” the research report details. “We find evidence of participation by Fortune 500 multinational corporations as project contractors and investments by these firms are associated with disbursements that are unjustified by project performance.”

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt
The World Bank and its partners are selling blockchain snake oil in order to keep the bond shell game going strong.

It’s not too hard to notice the shell game taking place with the World Bank’s growing bond scheme and so-called ‘compassion’ toward poorer nations. Many people believe loan sharks of this capacity are not compassionate at all and are only selling debt to the unfortunate in a parasitic way. People like Ludwig von Mises, Lew Rockwell, Ron Paul, and Murray Rothbard have all explained how the World Bank is just another failed concept designed by John Maynard Keynes and his followers. Similarly, the Bond-i blockchain project is just a fancy form of selling debt but the process is not really transparent, unless you are a member of the banking cabal.

The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt
There is no cure for the broken economics and fallacies tied to Keynesian Economics and central planners.

Unlike public blockchains, the general public has no access to this project’s blockchain explorer and they likely never will. To skeptics, the $114 million locked in the Bond-i project is a joke and if the World Bank wishes to end the systematic global economic crisis it should stop interfering with the economy by selling debt. The world’s politicians and central bankers, however, are not ready to hit rock bottom as they wholeheartedly believe in interfering with the market’s adjustment process. Whether it’s hosted on a fancy blockchain or not, until the World Bank stops the bond scheme, the borrowing economies will remain manipulated and artificial.

What do you think about the World Bank’s new blockchain Bond-i project? What do you think about the World Bank/IBRD’s practices of selling debt to poor countries? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, World Bank logo, Wiki Commons, Pixabay, Jamie Redman, Peter VanValkenburgh, and WBG.


How could our Bitcoin Block Explorer tool help you? Use the handy Bitcoin address search bar to track down transactions on both the BCH and BTC blockchain and, for even more industry insights, visit our in-depth Bitcoin Charts.

The post The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt appeared first on Bitcoin News.

Source: Bitcoinnews.com

Litecoin Price Analysis: Litecoin Struggling Upon Reaching $70, Will Hold The Significant Support?

Litecoin has seen a further 5% price decrease over the past 24 hours, which has brought the price of the cryptocurrency down to $70. This latest price drop is mostly a result of Bitcoin dropping back beneath the $10,000 region as things start to look bleak for the overall cryptocurrency market.
Litecoin remains the fifth-largest cryptocurrency with a market cap of $4.47 billion. Litecoin has managed to rebound at the 0.007 BTC level against BTC – but if this support breaks, we could see Litecoin at $50 over the next few weeks.

Looking at the LTC/USD 1-Day Chart:

  • Since our previous Litecoin analysis, we can see that Litecoin has fallen back into our support at the $70 level. The cryptocurrency seems to be on the bearish footing – mainly accommodated by the recent BTC breakdown. Some positive news could be coming upon reaching down to the significant support level around $67.
  • From above: The nearest level of resistance lies at $74.72 and $77.45. Above this, higher resistance lies at $80, $84.77 and $88 (200 days EMA). If the bulls can break above the 200 days EMA, further higher resistance lies at $90, $95 – $96.18 and $100.
  • From below: The nearest level of support is located at $67.23, which is provided by a short term downside 1.272 Fibonacci Extension level. This level of support is further bolstered by a long term rising support line. This combined area of support is expected to allow the market to rebound. If the sellers do break beneath this level, further support can be found at $65, $63, $60.91 and $56.60.
  • The trading volume remains low, same as the rest of the market.
  • The RSI indicator is below the 50 level, which shows that the sellers are in complete control of the market.

ltcusd_aug21-min

Looking at the LTC/BTC 1-Day Chart:

  • Against Bitcoin, we can see that LTC has fallen further lower but has managed to find strong support at the 0.007 BTC level. Like the majority of the altcoins, Litecoin forecast is looking dire against BTC. However, if BTC does continue to fall – we may see a resurgence within the altcoin market, which would see LTC/BTC surge.
  • From above: The nearest levels of resistance lies at 0.0074 BTC and 0.0078 BTC. Higher resistance is located at 0.008 BTC, 0.008244 BTC, and 0.0086 BTC. If the bulls can drive LTC/BTC higher, further resistance is expected at 0.009 BTC and 0.0094 BTC.
  • From below: The nearest level of support lies at 0.0070 BTC. IF the sellers push the market beneath this, the next level of support is expected at 0.0068 BTC. If the sellers continue to push the market lower, we can find support at 0.0065 BTC, 0.006380 BTC, and 0.0060 BTC.
  • The RSI is rising, which is a promising sign. It shows that the sellers are starting to lose their strength within the market. However, we would need to see the RSI break above the 50 level for any bullish recovery. The Stochastic RSI is looking to produce a bearish crossover signal which could be a bad sign for the bulls.
ltcbtc_aug21-min

The post Litecoin Price Analysis: Litecoin Struggling Upon Reaching $70, Will Hold The Significant Support? appeared first on CryptoPotato.

Source: Crypto Potato

Petition for Clemency for Silk Road Founder Ross Ulbricht Nears 200k Signatures

Ross Ulbricht

Silk Road founder Ross Ulbricht has spent six years in prison and has 34 years and two life sentences to go unless a petition spearheaded by his mother and sister lead to a grant of clemency.


195K Signatures and Counting For Ulbricht

A petition seeking clemency for Silk Road founder Ross Ulbricht is quickly approaching 200,000 signatures. Ulbricht is currently serving a 40-year sentence on top of a double life sentence for his role as the leader of the defunct black market website.

Ulbricht is only six years into his sentence and his mother Lyn Ulbricht recently attended a blockchain conference in Toronto to advocate for her son.

Ms. Ulbricht is hopeful that if she collects enough signatures President Donald Trump will grant her son clemency.

The online petition currently has more than 195,000 signatures, including those of Litecoin creator Charlie Lee, Roger Ver and billionaire Bitcoin bull, Tim Draper.

A number of politicians and movie stars have also expressed their support for Ross Ulbricht. 

According to Ms. Ulbricht, Ross is a good person, an idealist, and a libertarian. She said: 

I didn’t think of him as someone who was interested in technology persay, but he was interested in Bitcoin because he was a freedom guy. He worked on the Ron Paul [Presidential] campaign. He was very interested in Bitcoin as a means to monetary freedom for people. 

The Audacity of Hope

Both Ms. Ulbricht and Ross’s sister Cally are placing their hopes in the Change.org petition, and nothing would make them happier than to have Ross home for his 36th birthday.

Ross also appears to be wishing for the same outcome and a recent tweet of a handwritten note expresses his desire to “turn 36 in freedom”. 

President Trump Can Save the Day

It’s hard to calculate the possibility of Ulbricht attaining freedom in the near future. Fortunately, President Donald Trump has proven to be dedicated to prison reform and a number of convicted criminals have seen their sentences commuted or have received pardons from the President.

Convincing Donald Trump to grant Ulbricht clemency could be the last stop as the U.S. Supreme Court chose not to hear Ulbricht’s case for appeal in June 2018.  

Placing all of one’s hope in President Trump could lead to disappointment however, because the President previously has tweeted his disdain for cryptocurrencies. 

 

Trump is clearly not a fan of cryptocurrencies and aligns their use with criminal activity. 

Regardless of the outcome, Lyn Ulbricht hopes that blockchain and cryptocurrency investors at least recognize that her son’s early involvement in the sector served as a catalyst for bringing Bitcoin and its underlying blockchain technology into the public sphere. Ms. Ulbricht said: 

…if it weren’t for Ross and his vision, very few people would have heard of Bitcoin and many of the people would have heard of Bitcoin and many of the people who have become wealthy would not be wealthy if not for Ross. I’m asking them please don’t forget him. He helped make this possible and now we need your help.”

Do you think the Ulbricht’s will collect enough signatures to bring the issue of Ross’s freedom before President Trump ? Share your thoughts in the comments below! 


Images from Shutterstock: @realDonaldTrump, @RealRossU

 

The post Petition for Clemency for Silk Road Founder Ross Ulbricht Nears 200k Signatures appeared first on Bitcoinist.com.

Source: Bitcoininst

Tether Plans to Issue Chinese Yuan-Pegged Stablecoin CNHT

New findings have revealed that controversial stablecoin issuer, Tether, is seemingly working on a new stablecoin project dubbed “CNHT”. The new stable coin will be pegged to the offshore Chinese official fiat currency Renminbi (RMB/CNY).

This was confirmed today by Zhao Dong, a shareholder at Bitfinex, a cryptocurrency exchange owned by iFinex Inc., which is also the parent company of Tether. Dong is also the founder of the digital asset management platform RenrenBit. He revealed that “his company would be one of the first to invest and test the upcoming CNHT stable coin which will be launched in the near future.”

Despite that Tether is yet to make an official announcement, further research shows that the stable coin had been already working on its Chinese stablecoin since April, according to information on EtherScan block explorer rightly revealed.

The details of the new stable coin on Etherscan shows that the token has a total supply of 10,000,000 CNHT held in a single smart contract address.

Chinese Regulation’s Question Marks

With the People’s Bank of China (PBoC) edging closer to launching its official Central Bank Digital Currency (CBDC), that would act as a digital Yuan both within and outside the country, Tether may struggle with getting regulatory approval for its CHNT stablecoin.

Besides, even if Tether will receive an approval for the CNHT, the stablecoin may not be as successful as the USDT as almost all the crypto trading platforms in China currently have support for the USDT’s Tether.

Despite issuing the largest stablecoin by market cap, the Tether has spent its four years of existence battling a lot of scandals. From accusations of manipulating Bitcoin price in 2017 and not having a full audit on Tether to burning 500 million USDT in 2018. Added to the above, is the ongoing investigation by the NY Attorney General’s office, which is going after iFinex, the parent company of Tether and BitFinex.

tether_history_scandals
The history of Tether’s scandals

The post Tether Plans to Issue Chinese Yuan-Pegged Stablecoin CNHT appeared first on CryptoPotato.

Source: Crypto Potato