Quezon City Business

A pop-up released by AtomicDEX from Komodo shows Ethereum holds a connection with different networks of UTXO and bitcoin.

Friday was a highlight with the launch of a new project by Komodo, namely AtomicDEX. Are you aware of the platform? Not much? It is a platform that aims at empowering the “no trust atomic swaps” within blockchains, making a connection with Ethereum at present and tokens to Dogecoin, Bitcoin, and Litecoin.

With the help of atomic swaps, users get a chance to indulge indirect trading of native tokens. Most of the people investing in ETH (Ether) and BTC (Bitcoin) together might end up exchanging coins ownership on the blockchain, eliminating representations in tokenized form as an intermediary.

Komodo developed a wallet with dedicated multiple blockchains which lay stones for the integration. It also has a feature for “atomic swap.” At 6 PM (UTC) Friday, an official launch was announced for the trading network’s beta.

When defining atomic swaps, it refers to an interaction occurring in a cross-chain type that holds a presence of special techniques in cryptography –like the ones depending upon HTLCs (hast-time locked contracts) showing an assurance that there’s a complete occurrence of two exchanges or it’s not happening in any manner. With this, one can understand that two exchange parties will perform the transaction by simultaneously swapping funds. And if there’s any part taking steps back, it results in canceling the transaction.

JC (agent of pseudonymous transactions in Komodo)speaks up while talking in an interview that the primary goal of the project is to build a connection among most of the environments in blockchain, with integrations that are upcoming including the ecosystem for Cosmos. When talking in a general manner, it’s a mechanism that works as a blockchain supporter but a manual addition is necessary for every integration. Also, a team is made to work upon the privacy of integrating XMR (Monero) coins but with a priority at a lower stage.

In the exchange, it relies on using a traditional model present in an order of decentralized books with techno-based support. It holds a contrasting relationship with the famous decentralized type of exchange in the present time, depending upon automated makers in the market like the popular Uniswap. Also, oracles in “Band Protocol” are being used within the project to set a benchmark for target prices. For plans, the team is working upon a plan for Chain Link integration, since “we can’t just get married to a single solution for oracle,” stated JC.

JC gave a reassurance on the system that it won’t hold complete control on the funds or won’t custody funds anytime within the operating mechanism, depicting that “process gets slower with decentralization, so we can’t completely bang it together.”  The mechanism holds a potential limitation that is a higher level of security requirement, wherein blockchains are to be kept on the waiting list for trade confirmation, noted by JC, but it something common in the general DEXs.

In bridging the gap between tokens and blockchains, one of the valid options is atomic swaps, it’s a process existing in a centralized form because of certain technical restrictions imposed on it.

Online trading has become more accepted and used by traders. Since the lockdown, online trading, and most of the businesses have gone online, education, marketing, and affiliate programs are excellent examples.

There was more fast development in trading to help people gain profits in less time—all this while keeping with the law. Several companies launched their respective apps to facilitate the trading to more people from home.

What is the immediate edge app?

Immediate Edge App is one of those apps that help you trade without hiccups and difficulty—developed to understand trading more quickly for any user. The benefit includes many. However, the most important is saving your time. The time you will need to spend to study market data and find out the trading opportunity yourself.

How can the immediate edge help you with trading?

The easy trading withthe immediate edge app will help you by providing a tool that can guide you to trade more fluently and efficiently. You can get maximum benefits from this app, whether you are a beginner, intermediate, or advanced user. One must comprehend how trading apps can be more efficient than traditional trading.

There is another angle of online trading, and that is there is a minimal margin of error. It helps to remove big hurdle between the newcomers and the belief in this business. Online trading also involves your expertise in practicing the app operation along with the trading skills. When someone becomes an expert in both, then there is a good chance of making progress.

Benefits of using immediate edge app

• Easy to set up and use.
• The earnings achieved is solely belonged to the user.
• Brings the power with advanced AI technology.
• There are no hidden fees.
• It’s compatible with several devices.
• It provides an automatic trading process.
• Option to select the financial assets of user choice.

 The Immediate Edge takes these stresses away and takes care of your trading with proper guidance—this app is built with advanced AI algorithms. The security measures are rigid to give you a more pleasant trading experience. Immediate edge monitors the market data for you to find a fair trade.

Another fantastic feature of Immediate Edge is that it follows your trading strategies and adopts your trading habits. After a certain amount of time you have spent with the app, it may look for the trades suitable for your criteria faster.

Bitcoin is gaining a lot of attention across the world. The latest value in terms of dollar remains at $17000, and it reached a three year high recently. Everyone from the Wall Street Journal to the Queen is talking about the rise in Bitcoin. The searches for Bitcoin reached their highest level this year on Google. Market experts feel that this trend is likely to continue for many more months if the governments do not interfere.

Paypal fueling growth in Bitcoin

It is interesting to note that Paypal has taken close to 70% of newly minted Bitcoins since it started offering cryptocurrency services a month ago. The remaining 30% of the newly minted Bitcoins are taken up by Square’s Cash App. These new players want to offer tough competition to the other players in the market as they are not able to handle the demand properly. In recent weeks, Coinbase has suffered a number of outages whenever there was a spike in demand.

Future of Bitcoin

According to market analysts, the future of Bitcoin looks very bright, and it can even head to $160000 if the bull run continues for many years. On the other hand, a bottom can be seen at $25000 levels for the long term.

However, this is one side of the analysis, as the other side looks scary. The US financial authorities have proposed a new rule that would lower the threshold for an international transfer to $250. In this way, they want to regulate the cryptocurrencies and seek more information about who is using the currencies and for what reasons. The Trump administration is not in favor of stopping down, and such proposals may get complete support from other agencies.

Even the new President-elect Joe Biden is not a huge fan of cryptocurrency, and he has appointed Janet Yellen as Treasury Secretary. Yellen has experience handling the Federal Reserve as Chairman, and he had earlier called Bitcoin as “anything but useful.” Considering these views from the people in power, analysts feel that the rise of Bitcoin can be halted by these forces.

The rise in prices of cryptocurrencies was in sync with the rest of the markets as the pandemic situation continued worldwide in 2020. If the new government in the US provides some stimulus to boost the markets, it can also have an impact on the investments coming into the crypto markets.

Did you know that the prices of Bitcoins have significantly risen to 7%? And along with that, Tesla stock had a surprising surge from $330.21 to $449.76, which approximately comes to 36.2%.

Why is it so popular?

There is a significant notion that millennials clearly love Tesla and bitcoin. Why? Both Tesla and Bitcoin have seen an unnatural correlation between them in recent times for various reasons. It might be due to the Bitcoin price movements and the S&P 500. Another reason could be related to the fact that there is more trading among individuals with respect to bitcoins and Tesla.

A surprising point here is that the day when finally bitcoin got a spike above $11,000 across significant cryptocurrency exchanges. There has been a significant high record of Tesla.

There has been a wide market sell-off of the Nasdaq whale and fell by 10% in six days. But just after the initial drop, there was a quick recovery in the U.S stock market, and the tesla prices have rebounded. And again, coincidentally, bitcoin rose from $10,300 to $11,100 at the exact same time. Again surprising, right?

Why such a strange correlation?

Furthermore, there is another asset that has a surprising correlation with them, and that is avocados. How? The spot price of Mexico city Hass Avocado from Michoacan has shifted quite similarly to bitcoins since June 2018. Quite strange, right?

According to Bloomberg’s reports, on July 14, a massive number of 10,000 day traders on Robinhood purchased Tesla shares injust a single hour at the day’s peak, which is massive!

Even the major data providers have found such correlations. Thus, this is not a hoax! TradingView and Tesla, and bitcoin were undoubtedly the most viewed assets in July as the demand rose gradually.

And the demand for the avocados rose as well along with them as usual. One of the evident reasons could be pandemic. How? This is because, during the epidemic, the demand went high and crazy. Thus, with massive arrival at a time, they have shipped smaller volumes to the United States since it was already well-supplied by California and Mexico. And the drop in the prices gave a boost in the overall demand, which has been pretty high if compared to the previous years, according to the reports published earlier.

Conclusion

As of now, traders have been expecting another breakdown of the amount approximately from $10,110 to 10,200. The Tesla stock market has also dropped in pre-market trading significantly. The rate is 2.55%, and again it has coincided with the prices of Bitcoin. This is a pretty crucial resistance that has great significance. There have been constant reports and analytics that are closely recording the changes and the numbers. This is excellent for better insight regarding the nature of the graph. And this will result in better prediction of the shares of such markets regarding the upcoming years.  However queer it might seem, but they are coinciding certainly for the right reasons here!

Did you know that the prices of Bitcoins have significantly risen to 7%? And along with that, Tesla stock had a surprising surge from $330.21 to $449.76, which approximately comes to 36.2%.

Why is it so popular?

There is a significant notion that millennials clearly love Tesla and bitcoin. Why? Both Tesla and Bitcoin have seen an unnatural correlation between them in recent times for various reasons. It might be due to the Bitcoin price movements and the S&P 500. Another reason could be related to the fact that there is more trading among individuals with respect to bitcoins and Tesla.

A surprising point here is that the day when finally bitcoin got a spike above $11,000 across significant cryptocurrency exchanges. There has been a significant high record of Tesla.

There has been a wide market sell-off of the Nasdaq whale and fell by 10% in six days. But just after the initial drop, there was a quick recovery in the U.S stock market, and the tesla prices have rebounded. And again, coincidentally, bitcoin rose from $10,300 to $11,100 at the exact same time. Again surprising, right?

Why such a strange correlation?

Furthermore, there is another asset that has a surprising correlation with them, and that is avocados. How? The spot price of Mexico city Hass Avocado from Michoacan has shifted quite similarly to bitcoins since June 2018. Quite strange, right?

According to Bloomberg’s reports, on July 14, a massive number of 10,000 day traders on Robinhood purchased Tesla shares injust a single hour at the day’s peak, which is massive!

Even the major data providers have found such correlations. Thus, this is not a hoax! TradingView and Tesla, and bitcoin were undoubtedly the most viewed assets in July as the demand rose gradually.

And the demand for the avocados rose as well along with them as usual. One of the evident reasons could be pandemic. How? This is because, during the epidemic, the demand went high and crazy. Thus, with massive arrival at a time, they have shipped smaller volumes to the United States since it was already well-supplied by California and Mexico. And the drop in the prices gave a boost in the overall demand, which has been pretty high if compared to the previous years, according to the reports published earlier.

Conclusion

As of now, traders have been expecting another breakdown of the amount approximately from $10,110 to 10,200. The Tesla stock market has also dropped in pre-market trading significantly. The rate is 2.55%, and again it has coincided with the prices of Bitcoin. This is a pretty crucial resistance that has great significance. There have been constant reports and analytics that are closely recording the changes and the numbers. This is excellent for better insight regarding the nature of the graph. And this will result in better prediction of the shares of such markets regarding the upcoming years.  However queer it might seem, but they are coinciding certainly for the right reasons here!

Roberto Campos Neto, who is the current President of the Central Bank in Brazil, Banco Central, announced that the people of the country could soon expect the formation of central bank digital currency or CBDC set up in the country within three years. According to a news report released in September 2020 by the news agency Correio Braziliense, Brazil could see the CBDC set up by 2022. In a statement, the President of the Banco Central announced that the Central Bank has started to take important measures and implement innovative technology to modernize the country’s financial system. All of these measures would make the formation of CBDC inevitable. He announced the introduction of the PIX instant payment system, introducing open banking, in addition to many other measures.

From November, the Central Bank will launch the quick individual to individual and inter-business transactions that will take just ten seconds or even less. Different options that will be made available include a mobile phone, internet banking, or ATM. The proposed open banking system will make the banks’ swapping of information easy, allowing customers to change their banks from one to another with minimum paperwork. Campos Neto further stated that CBDC would be able to distinguish itself from other cryptocurrencies such as Bitcoin as it will be backed by a trusted national monetary regulator.

Banco Central is already working on the fundamentals of CBDC. The bank has created a team of experienced professionals to ass the different areas of digital payment systems and how it can fit into the country’s existing national payment systems. The team is also given the job to assess how the new digital currency will impact its economy. The team is expected to present its findings within a year.

The country is already working on updating the banking infrastructure besides implementing technology that will allow the processing of interbank payments instantly and for free. The Brazilian new system called PIX should be up and running by November 2020. This would lead to competition with other distributed ledger technologies such as Ripple’s ODL that were looking to establish themselves in the country. PIX will bring about a major digital evolution in the banking industry and boost the economy.

Campos Neto also added that introducing digital currency in Brazil would make their instant payment system more efficient. The open system will lead to creating competition and that, too, with a trusted currency that is credible, convertible, and globally accepted. This would easily pave the way for a digital currency that would be introduced by 2022.

Usually, when the price of gold rise this high as it is now, it is seen to witness a massive decline. In August 2020, gold stood more overvalued than it is in the last 50 years. It is the conclusion reached by the latest research conducted by Campbell Harvey, a finance professor at Duke University, Tadas Viskanta, founder/editor of AbonormalReturns.com, and former portfolio manager at TCW Group, Claude Erb. The timing of the research proved to be highly remarkable because the enthusiasm to invest in gold reached a new peak recently. 

One of the fund managers even predicted recently that the price of gold might even reach $4,000 per ounce in the near future. However, it needs to be noted here that the research in the discussion here has nothing to do with the volatility in the gold prices, as witnessed in recent times. As per many economic analysts, the gold is currently going through a price-discovery phase and unsure how long it would remain in this phase. Historically, it has been seen quite often that when the price of gold is high after being inflation-adjusted, its performance subsequently is almost always invariably low, and vice versa. 

As per the speculation of the research conducted, it is predicted that the price of gold would be lower in the coming years than at the price point, it is hovering over at the moment. Many of the gold-enthusiasts would go against the predictions made by the research and point towards the extensive money creation conducted by Federal Reserve in March. 

One other reason behind the massive Bull Run in the gold prices is gold ETFs. As per the data gathered by Bloomberg, the global holdings by gold ETFs are now over 3,356.6 tons. It easily surpasses the holdings of any government in the world, except the United States. It is seen recently that there is a strong correlation between the actual price of gold and that of total global ETF holdings. However, the researchers are not yet clear as to what this correlation may be. If the high price of gold is the reason why the ETF holdings are witnessing the influx of cash, then the ETF holdings would definitely take a hit when the gold prices decline. 

It is expected that the gold may hit a new all-time high during its current phase of price-discovery. However, historically, gold prices have always plunged whenever its inflation-adjusted price has sharply increased as currently. 

A major city in China had recently been rocked by a significant cryptocurrency fraud that amounted to over fourteen million dollars. Thankfully the swindle was successfully investigated and eradicated by Chinese law enforcement officers. The massive sum of hundred million dollars in yuan was attained back as well as several expensive vehicles and high-end real estate properties.  According to Chinese media outlets, the crypto conmen were swindling the masses since the last year and fished for prospective victims through social message-sharing groups that operate online. The chat groups were anonymous and hence an ideal place to commit such crimes.

Operating Scheme

The fraud is reported to have taken place by the common form of dishonesty, where greedy crypto-criminals lure unsuspecting victims with the promises of doubling the investment through higher returns. They spread out their messages on chat groups proclaiming to have benefited massively from investing in a specific crypto-currency platform and trading plan. Then they encouraged whoever they could to follow suit and transmit their cryptocurrency to a counterfeit altcoin wallet to receive a token that was double in value. But once it was done, the duped investor will only get a fake internet address and nothing else.

Stolen Commodities

The scammers operated cautiously and only promised eight percent more returns and not too much more, which would have made a potential investor suspicious. And in this way, they stole millions in Ether, Bitcoin, and other altcoins. They were eventually caught due to the extravagance that new money brings and were nabbed them when they tried to set up a center for their illegal activities in a complete building that they sourced. They had duped over a thousand people, and more details of the case are still surfacing.

These kinds of scams and frauds have become rampant with the growing use of crypto-currency and its burgeoning popularity on the trading floor. And it is especially hard to look out for fraudsters who promise good returns since the market volatility of crypto-currencies behaves in such a way that eight percent returns would seem like a reasonable promise any good crypto-currency investor would make. But with more and more usage and experience of dealing with altcoins grows in the common masses, the number of such scams and frauds will greatly diminish. There are always con artists out there who will try to lure you with fake promises. It is up to you to know the real from the fake.