For those investors who are still considering investing in crypto, here is a roundup of the top news stories for 11/16. Updates on bitcoin’s trading price as well as what will happen with it after its fork next week and PIVX’s investment round might be interesting reads for you this morning.
The crypto market is back in the green, with prices up roughly 40% from their recent low. Despite this, many cryptocurrencies are still at risk of falling off a cliff due to bearish predictions and poor fundamentals. Here’s an overview of what happened yesterday for the top 20 coins by market cap.,Crypto investors are being targeted by hackers in the midst of a market downturn. Cybersecurity firm BitSight released research on November 15th, finding that more than 13% of cryptocurrency exchanges have been hacked since January 2017. But what does this mean for crypto holders? Experts say you should continue to invest into coins that have strong development teams and encryption protocols.The “will bitcoin rise again 2021” is a question that has been on the minds of investors for years. The answer to this question will be provided in today’s news article.
Your Crypto Rights (Binance): A manifesto on how the cryptocurrency sector should progress, with a focus on investor rights.
Takeaway for Investors: Binance, one of our Future Winners, is once again leading the pace with a forward-thinking approach to crypto legislation. We agree on all 10 points. Take a look at these.
The Wall Street Journal has a six-minute explanatory video about DeFi. Investor takeaway: Keep in mind that Ethereum is the substrate on which most DeFi is constructed, which is why we purchase and retain ETH for the long term.
The great proclivity of ordinary people to be active in the financial markets is one of the numerous characteristics that characterize this era of time.
Millions of individuals have been motivated to work from home as a result of pandemic lockdown limitations, and memories of the Great Financial Crisis have established a vital lesson that everyone should have a basic understanding of financial assets, lest they become the proverbial tiny fish.
As you may remember, things came to a head in January, when a group of young retail traders fantasized about sticking it to the man and getting back at Wall Street by purchasing GameStop shares, which were massively shorted by multiple hedge funds.
They rapidly discovered, though, that you can’t defeat the devil at his own game.
Many equities have surged beyond rational value since then as a result of gangs of traders branding them memestocks for different reasons.
The AMC ape squad is one of these gangs, and they appear to believe that the unlawful practice of naked shorting, in which traders sell equities short without previously borrowing the requisite supply, is at the foundation of price manipulation.
Yesterday, I had the privilege of participating in a one-of-a-kind Twitter Spaces call in which a simple solution was suggested for community review, and yes, it used blockchain.
The suggestion
As we all know, bare shorts are the kind of issue that open ledger technology’s transparency can readily remedy.
It’s considerably more typical these days to see startup enterprises raise funds from the public by producing a new currency rather than using established methods of funding.
It is significantly more difficult to move to an open source model for legacy firms that were founded before Satoshi Nakamoto’s invention spread.
Marc Cohodes, a venture investor who invested in Overstock, which established the tZero market for regulated digital assets, was on the conference yesterday.
For each ordinary share of AMC stock, investors would get one digital token on tZero.
To avoid being labeled as unregistered securities, these new tokens would need to be infused with some form of usefulness, such as a free movie watching or perhaps an AMC discount.
The notion would have to be proposed to shareholders, who would then vote on it. Adam Aron, the president, CEO, and chairman of AMC Entertainment Holdings, Inc., has a reputation for being open-minded and has lately welcomed crypto payments for movie tickets. The tokens would be airdropped to all AMC holders if they voted to support the concept.
The idea is that any short sellers who did not really borrow the stock would be denied access to these tokens, exposing their nakedness when their options expired.
In other words, if their loans are recalled by the broker, they will have no option but to pay for fresh security tokens, which they will have to buy on the open market to repay their obligation.
Of course, the diamond hands community, being who they are, would almost certainly demand such a premium price for these new tokens that the accused offenders would be bankrupted.
Alternatively, it might exonerate them if they are innocent, but either way, it would put an end to the drama.
Will it, however, be successful?
This seemed to me to be a wonderful approach that might speed the transition to completely tokenized and fairer financial markets, something we have been dreaming about for about a decade.
Because, although you can’t battle Wall Street at their own game, crypto is an open arena on neutral ground with an equal playing field, if applied, we may finally see the spirit of the GameStop movement fulfilled.
Cohodes, for his part and mine, expressed a desire in hearing honest input on why this could or might not work, and for that reason, I’d want to invite you, our readers, at least those of you who’ve made it this far, to weigh in.
So please react to this message or contact me on social media if you have any questions, comments, or observations, as I’d love to hear them.
In the meanwhile, allow me to provide you with a remarkable piece of study conducted by analyst Gerald Votta. The author of this post takes a new look at the question of who originated bitcoin, adding another name to a limited list of contenders.
We’re proud of you as well!
This is just too important to take seriously. (To share this meme, go here.)
“Bitcoin News” is a blog that provides daily cryptocurrency news. For the day of November 16, 2018, they have an article about Bitcoin investors. Reference: bitcoin news.
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