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John McAfee Launches Ghost Phone Service to Supplement His Cryptocurrency

John McAfee Launches Ghost Phone Service to Supplement His Cryptocurrency and Exchange

Two-time U.S. presidential candidate John McAfee has launched a privacy-centric cell phone data service. McAfee said that his Ghost cell phone data service offers 4G data without using a physical SIM card, is compatible with most major phones, and works in more than 50 countries.

Ghost Cell Phone Data by McAfee

John McAfee announced Tuesday the launch of his new product called the “Ghost Cell Phone Data Service,” which he described as “the first 4G data service to make connections to the network untraceable.” Beta testing began on July 3 and the global launch of the service is planned for September.

The Ghost by McAfee website explains that subscribers will be “invisible,” as “All traffic passes through multiple anonymized servers and cannot be traced back” to them. No SIM card is required as the service uses eSIM technology that allows data connections on a smartphone without a physical SIM card. The “app will offer base layer VPN protection for your phone, encrypting any data you send over our network.” The website currently lists 37 supported countries but McAfee tweeted an additional 16, making the total number of supported countries 53 at press time. Tuesday’s announcement details:

The Ghost Cell Phone Data Service is one component of a larger ecosystem, which also includes the Ghost cryptocurrency for private transactions and the Ghostx Exchange for private cryptocurrency exchange.

McAfee described: “the Ghost brand will encompass a range of practical, real world tools for people to protect our rights and take back our privacy. Privacy is a human right.” The Ghostx exchange went live on Jun 21, following the launch of McAfee’s Ghost cryptocurrency, a proof-of-stake privacy coin.

The service is data-only but will support VOIP and other IP based communication platforms. It will be compatible with “most of the latest flagship phones,” the announcement adds. “Support for more phones will be added as eSIM technology gets added to mid-range and budget models.” Supported phones currently include a few models from Google, Samsung, and Apple’s iPhone.

To use the data network, scan a QR code supplied after purchasing the service using a supported phone. The announcement adds: “No personal information is required for sign-up and all service is prepaid with no contract. The service includes a free app available for both Android and iOS that further enhances data protection and privacy.”

What do you think about McAfee’s Ghost cryptocurrency and other services? Let us know in the comments section below.

The post John McAfee Launches Ghost Phone Service to Supplement His Cryptocurrency appeared first on Bitcoin News.

Source: Bitcoinnews.com

Jeffrey Epstein Confidant Ghislaine Maxwell’s Last Reddit Post Was About Bitcoin

Jeffrey Epstein Confidant Ghislaine Maxwell's Last Reddit Post Was About Bitcoin

The cryptocurrency community has been discussing the infamous Ghislaine Maxwell, the associate of the financier and convicted sex offender Jeffrey Epstein. Maxwell was recently arrested and many speculators think she may see the same fate as Epstein before she talks. Moreover, it seems the last time Maxwell used Reddit, her last post was about someone mysteriously sending almost $1 billion in bitcoin on Wednesday, June 30, 2020.

Ghislaine Maxwell was a well known associate of the now-deceased Jeffrey Epstein. The financier Epstein is a convicted sex offender who allegedly had a ring of sex slaves that were used to satisfy celebrities, politicians, and known British royalty figures.

Maxwell is accused of being the main ringleader behind Epstein’s sex trafficking and blackmailing empire, and was recently taken into custody by the FBI. Interestingly, Maxwell is tied to well known people in both the Democrat and Republican parties including people like former U.S. President Bill Clinton, and the current incumbent Donald Trump.

Both powerful American leaders can be seen in a variety of photos with Maxwell in the pictures.

Jeffrey Epstein Confidant Ghislaine Maxwell's Last Reddit Post Was About Bitcoin

Now it seems that Maxwell was a Reddit connoisseur and used the platform quite a bit. Her last post on June 30, was specifically about bitcoin, when she posted a Vice article called “Someone Mysteriously Sent Almost $1 Billion in Bitcoin.” The Reddit post was Maxwell’s last post on the platform, but according to the Twitter user Joe Leonard, Maxwell was an avid Reddit user.

“Ghislaine Maxwell was the first person on Reddit to hit 1 million karma LMAO,” Leonard tweeted. “She’s the #8 karma to this day. Her posts to /r/worldnews constituted roughly 30% of the posts there. This connection was made after she was arrested and that account stopped posting there after 14 years.” Leonard gives a comprehensive overview of Maxwell’s Reddit habits and notes:

[Ghislaine Maxwell] hasn’t posted since June 30th. She was arrested on July 2nd.

Jeffrey Epstein’s confidant Maxwell was recently transferred to NY-based prison after her arrest. It is well known that the former Bear Stearns partner Jeffrey Epstein liked bitcoin (BTC) and spoke about the subject often before his death.

“When we talk about gold as a store of value that just means a lot of people agree to pay the same price for one ounce of gold,” Epstein once said. “In 2017, enough people agree on the value of bitcoin that it can serve the same purpose. There will only ever be 21 million bitcoins, but this limit comes from computer code, not by how many bitcoins are left to remove from the earth. If we learn tomorrow that half of Montana contained a secret cache of gold, the value of gold would decrease instantly. Bitcoin doesn’t have this problem.”

Jeffrey Epstein Confidant Ghislaine Maxwell's Last Reddit Post Was About Bitcoin

It is uncertain how much Maxwell liked bitcoin, but her recent Reddit post suggests she followed the subject intently. As for the crypto community knowing that Epstein enjoyed the cryptocurrency, a number of people have suggested that “Jeffrey Epstein’s bitcoin intrigue deserves scrutiny at MIT”

This was after it was found that the former director of MIT’s Media Lab, Joichi Ito, allegedly attempted to “conceal financial contributions from pedophile Jeffrey Epstein.”

U.S. federal prosecutors allege that Maxwell, between 1994-1997, “assisted, facilitated and contributed to Jeffrey Epstein’s abuse of minor girls by, among other things, helping Epstein to recruit, groom and ultimately abuse victims known to Maxwell and Epstein to be under the age of 18.” Maxwell faces a myriad of sex trafficking charges and she “poses an extreme risk of flight” according to prosecutors.

“[Ghislaine Maxwell] absolutely no reason to stay in the United States and face the possibility of a lengthy prison sentence,” the prosecutor’s memo stressed.

What do you think about Ghislaine Maxwell’s last post on Reddit about Bitcoin? Let us know what you think about this subject in the comments section below.

The post Jeffrey Epstein Confidant Ghislaine Maxwell’s Last Reddit Post Was About Bitcoin appeared first on Bitcoin News.

Source: Bitcoinnews.com

Permissionless Software Foundation Aims to Foster Open-Source Software With Bitcoin Cash

Permissionless Software Foundation Aims to Foster Open-Source Software With Bitcoin Cash

Just recently, Bitcoin Cash proponents were introduced to a new foundation called the “Permissionless Software Foundation” aimed at spreading Bitcoin Cash and SLP token technology.

This week an organization called the “Permissionless Software Foundation” (PSF) revealed an announcement to the BCH community. The group’s mission aims to “foster the growth of open-source software and growing adoption of Bitcoin Cash across the globe.”

Permissionless Software Foundation Aims to Foster Open-Source Software With Bitcoin Cash
“The mission of the Permissionless Software Foundation is to foster the growth of open-source software and the adoption of Bitcoin Cash across the globe. The Foundation will focus on the development and promotion of software that makes it easy for individuals to protect their privacy, circumvent censorship, and engage in Agorism,” explains the PSF website.

Moreover, the PSF plans to bolster Simple Ledger Protocol innovation. Crypto fans can read about the PSF on the organization’s new web portal called psfoundation.cash. The organization’s business model states:

The Foundation is a community-oriented, highly automated, and legally-nonexistent decentralized autonomous organization whose purpose is to foster the growth of open-source software and the adoption of Bitcoin Cash across the globe. The PSF will offer a Simple Ledger Protocol (SLP) token on the Bitcoin Cash (BCH) network to self-fund the development of open-source software, and reward contributors that help the organization grow.

According to the press release, PSF and the web portal fullstack.cash will offer consulting services going forward.

“More and more businesses are looking into the great opportunities of integrating Bitcoin Cash and SLP tokens into their operations,” explains the announcement. “Finding the right information and the best people can be a daunting task but this service is already proving helpful for those businesses wanting to step into the world of Bitcoin Cash.”

Permissionless Software Foundation Aims to Foster Open-Source Software With Bitcoin Cash

The Bitcoin Cash (BCH) proponent and host of the developer’s monthly video series, David R. Allen, joined the PSF as the Business Development Manager. “[Allen] has agreed to assist and support the Permissionless Software Foundation and to be a primary contact for businesses as the community grows out of its infancy. His experience and contributions are a welcome addition to the foundation,” the PSF announcement details.

PSF also aims to offer “white-label BCH and SLP wallets” as well, according to the press release details. At the time of publication, the work is being executed in order to provide the community with a “fully functional white-label web wallet.”

“With this wallet, businesses will be able to release reliable web wallets with organisation-specific branding,” the announcement notes. “This will lower the barrier to entry for businesses even further. An early prototype of the wallet can be seen at ​wallet.fullstack.cash.”

The software developer Chris Troutner is also involved with the PSF, and nine days ago he created a post about the subject on the Reddit forum r/btc. Troutner and the PSF have also released an introductory video which can be viewed on Youtube.

BCH supporters seemed to like the project, according to a number of comments within the Reddit post. “Super interesting [and] very exciting,” one person wrote.

What do you think about the Permissionless Software Foundation (PSF) for Bitcoin Cash? Let us know what you think about this subject in the comments section below.

The post Permissionless Software Foundation Aims to Foster Open-Source Software With Bitcoin Cash appeared first on Bitcoin News.

Source: Bitcoinnews.com

About 90% of Bitcoin Investors Worried About Fate of Their Assets After Death: Study

About 90% of Bitcoin Investors Worried About Fate of Their Assets After Death: Study

Nearly 90% of cryptocurrency investors worry about what will happen to their assets after they die, but few plan appropriately. Younger investors are particularly culpable, barely thinking beyond their own lives.

According to a new study by the Cremation Institute, only about one quarter of bitcoin (BTC) investors have a documented plan of how their crypto funds will be distributed once they die.

Younger generations — those between the ages of 18 and 40 years — are 10 times more likely not to have a plan in comparison to older generations, the study found.

Only 65% of millennials and 41% of Generation Z reported having some sort of plan on how their crypto wealth will be passed on to their loved ones once they die, it said.

That compares with 86% of Generation X (41 to 55 years) and 94% of baby boomers (56 to 76 years) who said they have a plan to ensure that their crypto assets are inherited properly.

“While complacency is a large factor, the combined issues of lacking crypto estate services and government regulation are important reasons for overall planning disorganization,” said the Cremation Institute in the study, published July 7.

There have already been several examples around the world of bitcoin investors who have died without leaving their keys for their relatives. In such cases, families must deal with a kind of “double funeral,” as they mourn the loss of their loved ones while coming to terms with the loss of an irretrievable fortune that might have been theirs.

This underscores how bitcoin’s main attraction — its safe remove from regulators and impenetrable privacy from regulation — can also become its fatal weakness. Users may enjoy immunity from high bank fees and taxes, but they miss out on the good side of the old system, such as help with the administration of their estate.

According to Coincover, it is estimated that around 4 million bitcoin (about $37 billion) has been lost forever due to death. In one of the most widely publicized examples, paranoid U.S. investor Matthew Mellon died in 2018, leaving few clues to a crypto fortune reportedly valued at more than $500 million at the time.

In its study, the Cremation Institute surveyed a total of 1,150 people between October 2019 and June 2020. The research aimed to “understand the metrics behind crypto investors who had a plan for what happens to their investment after they pass away, in addition to those who don’t.”

It also aimed to establish the “proportion of investors who plan, along with how they planned, and whether they were concerned about losing their assets.” The findings show that 65% of crypto investors store their assets in their households for their spouses to access. Other popular areas include a computer (17%) and USB (15%).

Results also showed that women are significantly more likely than men to have some sort of cryptocurrency contingency plan if they were to pass away. This was significant across all age groups except baby boomers, where males actually planned more than females, said the study.

The Cremation Institute is a group of experts, contributors, and researchers “who create end-of-life resources for individuals and families to encourage thoughtful planning and to ensure security at all stages of life.”

What do you think about bitcoin after death? Let us know in the comments section below.

The post About 90% of Bitcoin Investors Worried About Fate of Their Assets After Death: Study appeared first on Bitcoin News.

Source: Bitcoinnews.com

Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85%

Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85%

Cryptocurrency market prices have improved a great deal since our last market update, as the overall market capitalization of all 5,700+ coins has gained $16 billion since June 14. Most of the top digital assets have remained in a consolidated cycle and a great number of cryptos have been able to hold above their 50-day averages.

Crypto Market Capitalization Inches Toward $300 Billion

The crypto community is curious about what’s going to happen next in the land of digital currency markets. Today, on Wednesday, July 8, a great number of coins are up in value and have gathered decent gains. At the time of publication, the entire crypto cap of all the coins in existence is around $277 billion and there’s roughly $21.6 billion in global trades. Bitcoin (BTC) is hovering around $9,342 per coin and has a $172 billion market valuation. As far as seven-day gains are concerned BTC is only up 1% for the week.

Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85%

The second-largest cap on Wednesday is Ethereum (ETH), which is trading for $245 per ETH at the time of publication. ETH has gained 7% during the last seven days. The stablecoin tether (USDT) currently holds the third-largest market valuation and it seems it will hold there for quite some time. Currently, the USDT market cap us around $9.6 billion and there’s $7 billion in global USDT trades today. XRP is the fourth largest valuation today, as each XRP is swapping for $0.19 per coin. XRP has gained 13% during the last seven days and it’s up over 8% today.

Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85%

Bitcoin Cash (BCH) is the fifth-largest market cap on Wednesday, with a valuation of around $4.4 billion at press time. Each BCH is swapping for $242 per coin and there’s $372 million in global BCH trades. Over the last 24 hours BCH has gained 2% and during the last seven days prices jumped over 8%. The top pair with bitcoin cash today is tether (USDT) with 58% of BCH trades being swapped for USDT. This is followed by BTC (26.27%), KRW (4.31%), USD (3.87%), GBP (1.95%), and ETH pairs (1.15%).

Digital Currency Market Analyst: ‘More Capital Inflows Are Needed’

This week a number of economists and analysts have been trying to predict what will drive the next cryptocurrency bull run. Etoro market analyst, Simon Peters, thinks that more institutional investment is needed to prime the bull.

Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85%

“So what is going to drive the next bull run in bitcoin?” Peters asked in a weekly investor’s note. “In my view, it is institutional investment. Bitcoin is the most well-known and biggest crypto by market cap and its development to date has mainly been dominated by retail investors. As word has spread, in particular since the price boom of 2017 and 2018 where prices hit all-time highs of $20,000, we have begun to see more institutional interest. This has taken the form of institutional investors buying the underlying crypto asset and indirect investment such as buying shares in bitcoin trust companies or investing in ETPs (Exchange Traded Products).” Peters continued by adding:

If we are going to see bitcoin prices rise sustainably above the $10,000 psychological barrier and even as high as $30k or $40k, then more capital inflows are needed, which will most likely have to come from institutions. Glassnode recently shared an interesting stat, showing that 61% of bitcoin in circulation hasn’t been touched in over a year. That’s an all-time high for this metric. In fact, the last time we witnessed such inactivity was just before the great bitcoin bull run of 2017. An omen of things to come, perhaps?

A Possible 1929-like Economic Crash Might be Looming on the Horizon

The cryptocurrency community recently witnessed the significant drop in value on March 12, 2020, otherwise known as ‘Black Thursday.’ Unfortunately, another leg-down could happen again, and the popular economist A. Gary Shilling believes it will be much like 1929’s economic crash. Shilling is specifically talking about traditional commodities, stocks, and equities, as he thinks the pandemic is the “most disruptive financial and social event since World War II.” Some bitcoin speculators think that there is a strong correlation between digital currency markets and the performance of traditional equity markets.

“Stocks are [behaving] very much like that rebound in 1929 where there is absolute conviction that the virus will be under control and that massive monetary and fiscal stimuli will reinvigorate the economy,” Shilling said in his recent interview.

Even though stock markets have seen some gains in the U.S. and in China, Citi strategist Robert Buckland agrees with Shilling’s sentiment. Buckland explained to the press that institutional and retail investors should wait until prices sink lower in order to enter new positions.

Cardano Jumps 85% in Ten Days Time

Lastly, during the last two weeks, the price of cardano (ADA) jumped from a low of $0.07 per ADA to $0.129 per coin. ADA is up 25% today and is the forerunner out of the top ten coins that rests right behind the BCH market position. Just recently, ADA founder Charles Hoskinson recently talked about a possibility of cross-chain interoperability with Bitcoin Cash (BCH).

Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85%

On the first of July, the Cardano development team deployed a Shelley upgrade node onto the network. The complete Shelley upgrade (hard fork) will take place on July 29. ADA did touch a high of 85% worth of weekly gains, but seven-day stats currently show the price has leveled, as ADA is up 52% for the week at $0.129 per ADA.

This Week’s Gainers and Losers

Overall it’s been a decent week for cryptocurrency investors and the top ten gainers this week includes dogecoin, vechain, constellation, cardano, acute angle cloud, sia coin, echolink, hdac, game, and ultrain. The top ten losers this week are coins like cosmochain, the SLP-based token spice, multi-collateral DAI, fanstime, egretia, fantom, nimiq, origin trail, energi, and digitex futures.

What do you think about this week’s cryptocurrency market action? Let us know what you think about this subject in the comments section below.

The post Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85% appeared first on Bitcoin News.

Source: Bitcoinnews.com

Major Indian Company TCS Launches Cryptocurrency Trading Solution for Banks’ Customers

Major Indian Company TCS Launches Cryptocurrency Trading Solution for Banks' Customers

Leading Indian IT company, Tata Consultancy Services (TCS), is launching a cryptocurrency trading solution for banks to allow their customers to invest in cryptocurrencies. TCS is part of the Tata group, India’s largest multinational business group, and is listed on two stock exchanges in India.

TCS Crypto Service Solution

India’s cryptocurrency industry just got a boost when Tata Consultancy Services (TCS) announced Wednesday the launch of its “Quartz Smart Solution for Crypto Services.” TCS is India’s leading IT services, consulting, and business solutions organization, part of the Tata group, India’s largest multinational business group. The company is listed on two Indian stock exchanges: the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange).

Quartz Smart Solution for Crypto Services aims to help financial institutions offer cryptocurrency trading, the TCS announcement explains, adding that it “allows banks and investment firms to enable investments and portfolio diversification into cryptocurrencies and digital assets for their clients.” The company elaborated:

The solution is designed to support multiple cryptocurrencies and stable coins, digital currencies linked to fiat currencies, trading venues and public blockchain networks.

TCS further emphasized, “Importantly, it can help banks and investment firms offer their customers the ability to transfer payments in the form of ‘digital cash’, and benefit from lower transaction costs and quicker access to liquidity.”

Major Indian Company TCS Launches Cryptocurrency Trading Solution for Banks' Customers

With over 448,000 consultants in 46 countries, TCS generated revenues of $22 billion in the year ended March 31. Quartz, a startup incubated by TCS, enables existing systems to integrate with blockchain platforms and other messaging networks.

According to the TCS website, Quartz Smart Solutions is part of the Quartz Smart Ledgers. The other Quartz solutions offered alongside the Smart Solutions are Devkit, which the website describes as smart contract development kits for different blockchain technologies; Gateway, which comprises solutions for integrating existing applications with blockchain ecosystems/networks; and Command Center, which comprises “solutions that facilitate administering and monitoring of the entire ecosystem.”

Major Indian Company TCS Launches Cryptocurrency Trading Solution for Banks' Customers

R Vivekanand, TCS’ Global Head of Quartz, commented:

Cryptocurrencies, digital fiat currencies and digital assets are poised to become viable alternate avenues for investments, hedging and portfolio diversification.

He added: “Progressive financial institutions are looking to provide these options to their clientele. We are excited to offer them our robust, secure and scalable solution for trading, storing and transfer of these assets.”

Quartz is also hosting an event on July 15 with partner Techex Digital on “The New Age Crypto World.” Among the topics that will be discussed are how organizations can benefit from having crypto assets and tokenized securities in their product strategies and how cryptocurrencies are “influencing the world of finance as we know it.” Event panelists will discuss “The decreased usage of cash and the future of finance in the context of crypto assets, tokenized securities and central bank digital currency,” “How regulatory direction is bringing cryptocurrencies into mainstream,” and “How industries can ride the wave and embrace this disruptive trend.”

The crypto ecosystem in India continues to grow as the Indian government deliberates on how cryptocurrency should be treated in India. Local crypto exchanges have been reporting record-high trading volumes and new signups. New trading platforms are also launching in the country and, recently, global crypto exchange Binance joined the Internet and Mobile Association of India (IAMAI).

What do you think about TCS launching a cryptocurrency service? Let us know in the comments section below.

The post Major Indian Company TCS Launches Cryptocurrency Trading Solution for Banks’ Customers appeared first on Bitcoin News.

Source: Bitcoinnews.com

Crypto Facilities Gets FCA Nod to Set up Crypto Futures Venue

Crypto Facilities Gets FCA Nod to Set up Crypto Futures Venue

Crypto Facilities, a subsidiary of Kraken cryptocurrency exchange, has obtained a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA).

An MTF is a European regulatory term for a self-regulated financial trading venue. MTFs are an alternative to a traditional stock exchange where a market is made in securities, typically using electronic systems.

Touting this as a first on the European continent, Crypto Facilities says the license enables it to expand its product range. It will do this whilst staying inside the regulatory perimeter.

Traditionally, an MTF license is usually granted to approved market operators or larger investment banks. This is to allow retail investors to trade financial securities.

For Crypto Facilities, getting a nod from a regulator means it is now better placed to serve institutional clients.

In a statement, Jesse Powell, CEO and Cofounder of Kraken, says getting the license means constrained investors can interface with a regulated venue such as an MTF. This gives them “access to crypto derivatives in Europe for the first time.”

Powell adds, “We undergo these licensing efforts because Kraken is about making crypto accessible for everyone.”

Crypto Facilities’ MTF announcement comes a few days after FCA’s release of findings of a cryptocurrency research study. The research shows an increase in the number of UK citizens owning cryptocurrency.

In addition to Crypto Facilities’ validation, regulated institutions opt for MTF because they offer a level playing field for all market participants.

Buyers and sellers are matched according to a set of transparent rules that do not discriminate between members. When buying an instrument at a certain price, a user able to do so if a corresponding sell order is available.

Also, MTFs are compliant with the European Union’s (EU’s) Markets in Financial Instruments Directive II (MiFID II). MiFID II aims to increase competition in the financial markets and enhance investor protections.

What do you think about Crypto Facilities approval? Let us know in the comments section below.

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Source: Bitcoinnews.com

Renters Threaten US Real Estate Market, 20 Million Americans Face Eviction

The aftermath of the coronavirus-provoked business shutdowns in the United States caused a number of market observers to focus on the U.S. real estate and rental markets. As the federal moratorium on evictions reaches its expiry, a recent Aspen Institute report reveals that 20 million renters or around 20% of 110 million American citizens who rent, will possibly face eviction by September.

Over a week ago, news.Bitcoin.com reported on the pending U.S. real estate crisis, as last month’s data had shown 4.3 million mortgage delinquencies, while commercial properties have also started to sink in value as well. American citizens, economists, and market analysts have been worried about the rental and mortgage sector ever since Covid-19 made its way to the United States.

Now the latest findings from the Aspen Institute’s recent report indicate that homeowners who rent are going to feel more pain in the coming months. The report estimates that roughly 20 million tenants could face evictions at the end of September, and the findings blame issues on the post-Covid-19 economy.

“20 million renters are at risk of eviction; policymakers must act now to mitigate widespread hardship,” explains the Aspen Institute’s authors Katherine Lucas Mckay, Zach Neumann, and Sam Gilman.

The U.S. has around 110 million renters nationwide, and the Aspen Institute’s numbers are dependent on factors like the unemployment rate, cost of living, and the average American’s savings.

Another reason for the possible displacement stems from the federal moratorium on evictions expiry, which banned evictions in certain types of housing units up until July 25. Some of the local government enforced moratorium measures on the county level have expired in June. Moreover, a number of economists and analysts believe that the evictions will start to disrupt the $16 trillion U.S. commercial real estate market.

A few of the stricter American states have begun opening certain types of businesses in phases, as New York for example recently entered Phase 2, which allowed a number of different businesses to begin operating again. Other strict states, specifically in the Northeast are entering Phase 3.

States like Massachusetts will not allow Phase 4, which includes businesses like nightclubs and bars, until at the very least therapeutic action or a vaccine is available according to Governor Baker. These nationwide job losses, broken up by state-enforced phases, will affect the economy and have a domino effect on landlords who rent to tenants in the United States.

“I think it’s going to be a hail storm out there,” Jeffrey Citron, from the law firm Davidoff Hutcher & Citron LLP said about the situation. “And I think, in most instances, it’s probably in the best interest of landlords to sit down and work with their tenants,” he added.

Despite the data from the Aspen Institute and the moratorium expirations, a number of real estate visionaries think ‘things will be fine,’ thanks to another round of government stimulus, otherwise known as the Paycheck Protection Program (PPP).

One particularly hard-hit real estate and rental market will likely be New York and last Sunday, the U.S. government revealed the names of certain businesses that benefited from PPP. Reports say “multiple New York City real estate companies have locked down funds from the Paycheck Protection Program.” The stimulus funding from the federal government ($650 billion nationwide) could help rental and real estate markets fend off disaster.

In the media, Covid-19 has been a great excuse for the federal government to print money on a whim, and many Americans still believe it will help the economy. The biggest weight on commercial, multi-family, and single-family real estate will be the unemployment rate, which will lead to nationwide evictions. While certain investments like gold and a myriad of cryptocurrencies have weathered the storm, many investors think that real estate is an extremely risky investment right now.

What’s worse is, even with the strict state-enforced phase restrictions, “Shark Tank” investor Kevin O’Leary says that U.S. businesses are using “the pandemic as a cloak.” Essentially, O’Leary stressed on Wednesday’s “Squawk Box,” American companies wanted to relieve these employees well before the Covid-19 outbreak.

“They wanted to do this anyway, and they’re doing it under the cloak of, ‘Gee, I can’t open so I’m just going to do it,’” O’Leary said. “Their jobs will never come back. This is great for earnings in the S&P. It’s not great for employment.”

What do you think about the U.S. housing and rental market going forward? Let us know what you think about this subject in the comments section below.

The post Renters Threaten US Real Estate Market, 20 Million Americans Face Eviction appeared first on Bitcoin News.

Source: Bitcoinnews.com

Bitcoin Price Poised for ‘Imminent’ Breakout As Network Hashrate Hits Record Highs

Bitcoin Price Poised for 'Imminent' Breakout As Network Hashrate Hits Record Highs

The price of bitcoin could see an ‘imminent’ breakout, according to the latest Glassnode data.

The data firm says bitcoin (BTC) has been flashing bullish for the past six weeks amid positive onchain activity.

Meanwhile, the BTC network hashrate has continued to grow, with the seven-day average reaching 123.4 exahash per second (EH/s) on Monday.

In a report published July 6, the Glassnode Network Index (GNI), which measures the overall state of the Bitcoin network, rose by one point week-on-week, to a value of 56 points. At the same time, the BTC price slid from $9,125 to $9,070, a stability largely unexpected.

The index measures metrics such as network health, sentiment, and liquidity to determine the strength of bitcoin’s fundamentals. According to the report, network health and sentiment rose by 3 points and 6 points, respectively. Liquidity fell by 6 points.

“While BTC has remained surprisingly stable over the past couple of months, indicators are pointing to an imminent breakout, with fundamentals remaining consistently strong,” said Glassnode.

“However, external factors such as bitcoin’s as yet unconfirmed correlation with traditional financial markets mean that uncertainty remains in spite of positive signals within the market,” it added.

The news comes as the Bitcoin network hashrate reached new highs this week. According to data from Blockchain, BTC hashrate or total computing power touched a seven-day average of 123.4 EH/s on July 6, an all-time-high. A week earlier, the figure averaged 115.3 EH/s.

A rising hashrate tends to indicate faith in the network by bitcoin miners. Often, this leads to an increase in the price of BTC. Over the last couple of days, bitcoin has clawed up from around $9,070 to $9,316 at the time of writing, data from markets.Bitcoin.com shows.

The immediate target is to break above $10,000 and stay there. Analysts consider this level as important for sparking BTC’s long-awaited price rally.

What do you think about bitcoin’s price outlook? Let us know in the comments section below.

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Source: Bitcoinnews.com

The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network

The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network

The most popular stablecoin tether (USDT) has officially been minted on the Bitcoin Cash blockchain via the Simple Ledger Protocol (SLP). At press time there’s only 1,010 SLP-based USDT in circulation, as the firm Tether Limited seems to be issuing small amounts and testing the SLP framework.

Tether (USDT) is the king of stablecoins in the crypto economy and according to the company’s transparency page, there are more than $9.8 billion tethers in existence.

The stablecoin is a token that is also hosted on a number of blockchains including the Ethereum network, Omni Layer, Algorand, Tron, Liquid, and the EOS chain. Not too long ago, news.Bitcoin.com revealed that tether (USDT) was migrating some coins over to the Bitcoin Cash (BCH) blockchain via the Simple Ledger Protocol.

Tether Limited’s transparency page now shows that the company has been minting and testing the SLP framework. The data website simpleledger.info shows that the Tether team has officially minted 3,027 USDTs so far on the BCH chain.

The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network

However, 2,017 SLP-based USDT tokens have been burned, which only leaves 1,010 SLP-based USDT in circulation at the time of publication. A thousand dollars worth of stablecoins is not much, but Bitcoin Cash proponents believe that the company is simply trialing the SLP infrastructure.

Simpleledger.info also shows that the baton is “alive,” which means USDTs can be minted at any time. The genesis of the SLP-based USDT shows that the tokens were born on May 25, 2020. Searching the term “tether” in the simpleledger.info database also shows there is a number of phony ‘tethers’ people have created since the SLP network came out.

The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network

The official USDT token ID is shown at Tether Limited’s official website, alongside the balances of tether on other blockchains. There’s been a total of 50 SLP-based USDT transactions so far on the Bitcoin Cash blockchain.

The SLP-based USDT rich list shows that this address has the most stablecoins with a balance of 874.14 USDT at the time of publication. The rest of the coins in circulation are spread out through a number of different addresses.

The largest amount of USDTs on any blockchain is held on ETH with $6 billion in ERC20-based tethers to-date. Of course, Bitcoin Cash fans were both pleased and skeptical about the appearance of USDTs on BCH.

On the subreddit r/btc, BCH fans discussed the recently issued SLP-based USDT on the forum. On July 7, Sideshift.ai announced that the Bitcoin Cash version of USDT is now live on the swapping platform.

BCH proponents also discussed holding USDTs on the Bitcoin.com Wallet thanks to the recently added asset breakdown and stablecoin features. On Twitter, the Sideshift team wrote: “Be one of the first humans to shift USDT on SLP.”

What do you think about tether (USDT) being minted on the Bitcoin Cash chain? Let us know what you think in the comments section below.

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Source: Bitcoinnews.com