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The Connection Between Cryptocurrencies And The Equity Markets

June G. Bauer

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As you probably know the stock market went down hard, it’s been one of the I would say shocking pieces of what had happened when Federal Reserve Chairman Jerome Powell decided to cut the interest rates in order to boost the economy, the reason why this is critical for you to know this is because this marks a turning point in the sentiment towards fiat currency.

Prior to the Fed cut that happened a couple of days ago, the Federal Reserve and our government officials had decided that the economy was doing well and the recent remarks that were shown by by mr. Powell indicated that perhaps there was a lot of weakness in the economy, something that people have already been talking about in the past about a recession but somehow never really materialized. If you take a look at the historical range for recessions, we usually get in recession once every six or seven years, we are actually long overdue for one and it has been delayed for so long, in fact we our last recession was almost 10 years ago is that this is really kind of not something normal. What had happened here was stock market beginning to react to the fact that there could be a possibility that this could be the end of the bull market run and the end of a bull economy as we’re heading into 2020.

Crypto plays a very critical and strategic role, the first one has been the fact that cryptocurrencies are considered to be a very different asset class and what I mean by that is that if you take a look at cryptocurrency as a whole it evolved as a payment system but what we are currently seeing is cryptocurrencies are becoming more and more like an asset that people are storing their wealth in. This has been a fundamental shift from Satoshi Nakamoto’s specific reference to payment channels he envisioned a world where you can bypass fiat completely clean and maybe we’re gonna get there at some point I just don’t feel that now it’s a time because there just isn’t enough awareness for Cryptos. I could be completely wrong and tomorrow the whole Fiat system goes down the tubes and the next thing you know cryptocurrencies are adopted it doesn’t matter whether that’s gonna happen or not but the big question is, is crypt going to be something that will continue to be here in the next ten years and the answer is I think yeah absolutely.

Going back to Bitcoin price in the next couple of weeks, you’re probably gonna see people talk about how Bitcoin probably gonna go up to 50k or even to hundred thousand or whatever the case is and that’s where we start getting into the FOMO event you probably will get some some massive gains if you are a BTC holder.

The Altcoin markets right now are facing something that we haven’t seen before in a while, the last time we’ve had something like this was back in 2012, in 2015 and 2016 most of the Altcoins are getting flushed out of the system and this has to do with a couple of things happening number one being the fact that the exchanges are getting fragmented we’ve had almost a 400 percent growth in exchanges in just the last two years alone in fact the exchange is now constitute are the source of a lot of the new cryptos and because of that the supply of cryptos is just rising exponentially which means as more exchanges are coming online there really isn’t enough demand to soak up that so at some point these exchanges are gonna start collapsing and when they do collapse there’s going to be a rush for the exits and I think this turmoil that we’re seeing right now in the equity market and also in the cash market is a canary in the coalmine to what’s coming ahead. Now crypto right now is facing a pretty nice run but I suspect that you know we’re gonna get some sort of action coming in in the next couple of weeks because as the market begins to consolidate both from the exchange perspective and also from these many cryptos you’re gonna start seeing a lot of cryptos literally kind of get off and die off and when that happens there’s going to be a lot of shift in wealth.

As an example many of these exchanges are running stable coins and sable coins there’s too many of them right now, I think there isn’t going to be a lot of the quiddity for them in the future because every exchange wants to have their own stable coins obviously you it’s kind of like having their own fiat currencies and you’re gonna have to switch between one or two of the other.

Either way the the roadmap for this rally this epic rally what a call for Bitcoin is going to really focus on stability and security and I think that bitcoin is in a very very special position that many of these other stable coins are not one being it’s been around for ten years second to is we already know the tech and three is the fact that we have a huge event coming up next year now stable coins are going to be its rival but the problem with stable coins as I mentioned is that you have way too many exchanges with questionable reserves and even if they issue up their own stable coins there’s no guarantee that another exchange gonna pick it up, it would br very similar to what ripple is encountering when they’re trying to sell the XRP token to banks because banks don’t want to be trading other bankss currencies.

Pop cultureaholic, Technology expert, Web fanatic and a Social media geek.

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Bitcoin

A Backdoored Tor Browser is Being Used to Steal Bitcoin From Tor Users

June G. Bauer

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Tor-Browser-Backdoor

A trojanized version of the Tor Browser is currently targeting Russian users to steal their Bitcoin funds. This was discovered by ESET security researchers.

When victims try make any Bitcoin transactions, the Backdoored Tor browser will automatically replace the original destination address with another address controlled by criminals.

The attackers are promoting their trojanized version of the Tor Browser through posting spam message on some popular Russian cryptocurrency websites to encourage victims to download and use the infected browser. Two domain names are used to distrubute the infected browser tor-browser[.]org and torproect[.]org

At the moment of publishing, the cryptocurrency wallets controlled by the attackers received 863 transactions worth of $40,000 in Bitcoin cryptocurrency.

Example of spam message promoting tor-browser[.]org . Image credit: welivesecurity.com

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Bitcoin

Malicious WordPress Plugins Used to Mine Cryptocurrencies

June G. Bauer

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WordPress Plugins Used to Mine Cryptocurrencies

Security researchers at Sucuri have discovered a number of fake and malicious WordPress plugins that are being used not just to maintain access on the compromised websites but also to mine cryptocurrencies.

WPframework is a commonly used WordPress malicious plugin that hides itself to be a legitimate plugin, but its a PHP backdoor that will allow attackers to maintain their access even after the initial infection vector has been cleaned up.

The plugin will download Linux executable binary files to mine cryptocurrencies in the background.

What is WordPress?

WordPress is a widely used open source content management system (CMS) written in PHP with back-end MySQL database. WordPress is considered to be the easiest and most powerful blogging and website content management system in existence today. Right now, there are around 75,000,000 websites are using WordPress.

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A 148 Years Old Church is Being Sold for 182 BTC in UK

June G. Bauer

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church-btc

A 148 Years old church located in Durham, North East England is up for sale for around 182 BTC (£1,200,000).

The church dates back to 1871 and was designed by the Darlington based architect JP Pritchett . The listing is posted on UK property portal Rightmove.

According to the listing, the vendor is willing to accept the cryptocurrency Bitcoin (BTC) as a method of payment. The final sale price in BTC is to be agreed and confirmed with the vendor and will depend on the market valuation of BTC at the time of sale.

Image Credit: RightMove.

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