Masters — who became managing director at JPMorgan at the age of 28 before becoming the head of global commodities — is not without her share of controversy in the financial space. She’s widely credited with creating a credit derivative vehicle known as the credit default swap, which has been identified as one of several investment vehicles responsible for the global economic crash of 2008. Her creation has been described in the media as a financial weapon of mass destruction.
However, there’s no denying that Masters is an expert in the field of finance and commodities, and with her new role as CEO of Digital Asset Holdings, which develops blockchain solutions for financial services, there are few people better qualified to speak on the application and adoption of blockchain in the commodities industry.
“Supply chains are notoriously complex and inefficient,” Masters said during her London speech. “This is especially true in the metals and mining industry where many operational and commercial practices remain inefficient and antiquated, leading to critical data omissions, security vulnerabilities, expenses, corruption, and unethical provenance.”
Bitcoin first appeared on Dinwiddie's radar in 2014, recommended by a friend who works in finance. At the time, Dinwiddie had little disposable income. In January of that year, as a college junior, he'd torn his ACL. In June, he slid to the second round of the NBA draft, where the Pistons selected him. He signed a contract with two guaranteed years for less than $1 million each. As a rookie, he appeared in fewer than half of Detroit's games and spent time in the D-League. Maybe he'd have a future in the NBA, or maybe he'd flame out, as many second-round picks before him had done.
As the 2017-18 NBA season opened, bitcoin cleared $5,000, banking immediate returns for Dinwiddie. By December, the price had doubled. Soon it would triple, up to $15,000.
Dinwiddie, feeling lucky, began to research some lesser-known coins. He noticed that a cryptocurrency called Tron had secured backing from wealthy investors. "If billionaires invest in something and push something, even if it doesn't have long term-success, it'll have its day," Dinwiddie says.
He bought into Tron in early December, when bitcoin's prices were spiking. Almost immediately, Tron spiked, too. It was quite a time to be Spencer Dinwiddie. As the crypto market took off, his basketball career went with it.
"Argentina's Banco Masventas has revealed that starting Monday it will enable customers to send cross-border payments using bitcoin. A partnership with Latin America-focused exchange startup Bitex, founded in 2014, the news finds the regional bank using bitcoin as a payments rail in international transactions as an alternative to Swift. Bitex chief marking officer Manuel Beaudroit told CoinDesk that the startup believes this marks the first time that a domestic bank has adopted bitcoin for cross-border payments.In statements, Jose Dakak, principal shareholder of Masventas, credited the move to a broader drive by the bank to enhance its digital, smartphone-based services, as well as to lower the bank's cost of service."One of the actions was to contract Bitex as a strategic partner in the implementation of the Bitex platform for payments and collections operations for our clients abroad," he said.
While no real-world transactions have been launched yet (the service began today), the bank will soon use bitcoin for real customer transactions, Beaudroit said. He told CoinDesk: "The customers will ask the bank to do an international payment, and the bank uses Bitex as a provider. For the customer, it's transparent, they don't touch, they don't see the bitcoin. We are a provider for them, and they are not touching bitcoin." #bitcoin#bitcoins#blockchain#блокчейн#Биткойн#криптавалюта#ФинТех#bitcoinasia#bitcoinnews#bitcointechnology#bitcointraiding#bitcoinguru#bitcoinprice#bitcoinbillionare#bitcoinmining#bitcoinexchange#altcoin#ethereum#money#cash#fintech#crypto#cryptoworld#cryptocurrency#cryptocurrencies#btc#xrp#ltc#argentinia" #india@trade_with_sean
Crypto currencies will be the new safe haven. Prepare for it
The 2008 financial crisis led to the Great Recession and millions of jobs lost. It took years for America to recover and many citizens still feel the ripple effects. According to Microsoft co-founder Bill Gates, though, we should be braced for another one. During a Reddit "Ask Me Anything" last week, when Gates was asked if, in the near future, the U.S. will have another crisis similar to the one in 2008, he offered a blunt response: "Yes. It is hard to say when but this is a certainty."
He added, "Fortunately, we got through that one reasonably well. Warren has talked about this and he understands this area far better than I do."Despite the warning, both Gates and his longtime friend Warren Buffett are generally optimistic about the U.S. economy. In an essay for Time magazine, Buffett stated that years of growth "certainly lie ahead," and "most American children are going to live far better than their parents did."Gates concluded his AMA response by saying, "Despite this prediction of bumps ahead, I am quite optimistic about how innovation and capitalism will improve the situation for humans everywhere." As for how you, the investor, should react if the market tanks, keep a level head and stay the course, says Buffett. In response to wild market fluctuations back in 2016, he told CNBC that buy-and-hold is still the best strategy. "Don't watch the market closely," he advised those worried about their retirement savings at the time. "If they're trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe sell them when they go up, they're not going to have very good results." #bitcoin#bitcoins#blockchain#блокчейн#Биткойн#криптавалюта#ФинТех#bitcoinasia#bitcoinnews#bitcointechnology#bitcointraiding#bitcoinguru#bitcoinprice#bitcoinbillionare#bitcoinmining#bitcoinexchange#altcoin#ethereum#money#cash#fintech#crypto#cryptoworld#cryptocurrency#cryptocurrencies#btc#ltc # #billgates#warrenbuffet"
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2 504 days ago
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“As the investment community knows, over the last six months, the digital asset market experienced one of the largest price drawdowns since the inception of Bitcoin in 2009. However, what is more interesting, and somewhat counterintuitive, is that the pace of investment into Grayscale products has accelerated to a level that we have not seen before. In fact, we raised nearly $250 million in new assets in the first half of this year, marking the strongest inflows of any six month period in the history of our business.”
The cryptocurrency market is quite clearly still in a bear market with major cryptocurrencies like Bitcoin, Ethereum, and Ripple unable to demonstrate strong momentum and large upside breakouts.
But, investors are still comfortable in investing large sums of capital to back emerging startups and projects. In a phase like this, it is more risky to invest in emerging startups than in established cryptocurrencies.
The approach of most hedge funds and high profile investors, both retail and institutions, represent confidence of investors in the long-term growth of the cryptocurrency sector.