Aryacoin is a new cryptocurrency, which allows for decentralized, peer to peer transactions of electronic cash. It is like Bitcoin and Litecoin, but the trading of the coin occurs on sales platforms that have no restriction to use. Further, it was created with the goal of addressing the double spend issues of Bitcoin and does so using a timestamp server to verify transactions. It works by taking the hash of a block of items to be timestamped and widely publishing the hash. The timestamp proves that the data must have existed at the time in order to get the hash. Each timestamp then includes the previous timestamp in its hash, forming a chain. The Aryacoin team is continuously developing new use cases for the coin, including exchanges where users can exchange the coins without any fees or restrictions, and offline options where the coins can be bought and sold for cash. The coins can also be used on the company’s other platform, mrdigicoin.io. Along with the coin, there is a digital wallet that can be created and controlled by the user entirely, with no control being retained by the Aryacoin team.
The concept of Blockchain first came to fame in October 2008, as part of a proposal for Bitcoin, with the aim to create P2P money without banks. Bitcoin introduced a novel solution to the age-old human problem of trust. The underlying blockchain technology allows us to trust the outputs of the system without trusting any actor within it. People and institutions who do not know or trust each other, reside in different countries, are subject to different jurisdictions, and who have no legally binding agreements with each other, can now interact over the Internet without the need for trusted third parties like banks, Internet platforms, or other types of clearing institutions. When bitcoin was launched it was revolutionary allowing people to transfer money to anytime and anywhere with very low transaction fees . It was decentralized and their is no third party involved in the transaction , only the sender and receiver were involved. This paper provide a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Bitcoin was made so that it would not be controlled or regulated but now exchanges and governments are regulating bitcoin and other cryptocurrencies at every step. Aryacoin was developed to overcome these restrictions on a free currency. Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
1.1 OVERVIEW ABOUT ARYACOIN
Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community. Aryacoin is a blockchain based project that allows users to access their wallet on the web and mobile browsers, using their login details. Aryacoin can be mined; it also can be exchanged by other digital currencies in several world-famous exchanges such as Hitbtc, CoinEx, P2pb2b, WhiteBit, Changelly and is also listed in reputable wallets such as Coinomi and Guarda. Aryacoin is a coin, which can be used by anyone looking to use cryptocurrency which allows them to keep their privacy even when buying/selling the coin along with while using the coin during transactions. Proof of work and cryptographic hashes allows transactions to verified. Stable Fee Per AYA is a unique feature of Aryacoin, so by increasing the amount or volume of the transaction, there is no change in the fee within the network, which means that the fee for sending an amount less than 1 AYA is equal to several hundred million AYA. Another unique feature of Aryacoin is the undetectability of transactions in Explorer, such as the DASH and Monero, of course, this operation is unique to Aryacoin. Using Aryacoin digital currency, like other currencies, international transactions can be done very quickly and there are no limitations in this area as the creators claim. Aryacoin aims to allow users to access the Aryacoin wallet via the web and mobile browsers using their login details. Aryacoin is a peer-to-peer electronic cash system that enables users to send and receive payments directly from one party to another, and allow them to transfer funds across borders with no restriction or third party involvement. The blockchain-based system embraces the digital signature, which prevents double spending and low transfer fees, which enables users to transfer huge amounts with very low fees. The proof-of-work consensus mechanism allows each transaction to be verified and confirmed, while anonymity enables users to use the coin anywhere at any time. According to the website of the operation, each wallet is divided into 2 or more AYA wallet addresses for each transaction, and depending on the volume of the transaction block, the origin, and destination of transactions in the network can not be traced and displayed to the public. In fact, each wallet in Aryacoin consists of a total of several wallets. The number of these wallets increases per transaction to increase both security and privacy. Aryacoin also uses the dPoW protocol. In the dPoW protocol, a second layer is added to the network to verify transactions, which makes “51% attack” impossible even with more than half of the network hash, and blocks whose Blockchain uses this second layer of security never run the risk of 51% attacks. AYA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.
1.1.1 ARYACOIN HISTORY
Aryacoin (AYA) is a new cryptocurrency, which has been created by a group of Iranian developers, is an altcoin which allows for decentralised, peer to peer transactions of electronic cash without any fees whatsoever. Along with the coin, there is a digital wallet that can be created and managed by the user entirely, with no control being retained by the Aryacoin team. Aryacoin’s founder, Kiumars Parsa, has been a fan of alternative currencies and particularly Bitcoin. “We see people from all around the world using Blockchain technology and the great benefits that came with it and it then that I decided to solve this puzzle for find a way of bringing the last missing piece to the jigsaw. The idea for Aryacoin was born.” Parsa said. Parsa and his team of Iranian ex-pats not only persevered but expedited the project and just a year later, in the summer of 2019, the first version of Aryacoin was released. In 2020, Aryacoin is the first and only Iranian coin listed on CMC. Parsa goes on to state that it is now the strength of the community that has invested in the coin that will ultimately drive its success, alongside its robust technology and appealing 0% network fees. “We have thousands of voices behind Aryacoin. People for the people make this coin. It is a massive shout out for democracy. This had made us base the whole team strategy on the benefits for both our users and our traders.” “One key example is that the network fee on AYA Blockchain is 0%. Yes, absolutely nothing, which which differentiates us from other networks. What also differentiates us from other coins is that we have AYAPAY which is the first cryptocurrency Gateway in the world which does not save funds on third party storage with all funds being forwarded directly to any wallet address that the Gateway owner requests”. “So for the first time ever, and unlike other gateways, incoming funds will be saved on the users account with submitted withdrawal requests then made on the Gateway host website. In AYAPAY which has also been developed by the Aryacoin team, all funds without extra fees or extra costs will directly forwarded to users wallets. We have named this technology as CloudWithdrawal.” “We are continuously challenging ourselves as it is a crowded marketplace. We are striving to have a safer Blockchain against 51% attacks, faster confirmations speeds of transactions, cheaper network fee, growing the market by cooperation with Top tier Exchangers.”
1.1.2 ARYACOIN’S MAIN GOAL
Aryacoin’s main goal is to educate people and give them the freedom to use cryptocurrency in any way they want. Aryacoin empowers the users to transfer, pay, trade cryptocurrency from any country around the globe. Platforms that have been created by Aryacoin Team, as well as those that will go live in future, operate on the same principle and exclude absolutely no one.
1.1.3 PROBLEM ARYACOIN SEEKS TO SOLVE
Aryacoin aims to provide a long-term solution to the problem of double spending, which is still common in the crypto market. The developers of the system have created a peer-to-peer distributed timestamp server that generates computational proof of the transactions as they occur. Besides, the system remains secure provided honest nodes control more CPU power than any cooperating group of attacker nodes. While Bitcoin was designed not to be regulated or controlled, many exchanges and governments have put regulatory measures on the pioneer cryptocurrency at every step. Aryacoin aims to overcome these restrictions as a free digital currency.
1.1.4 BENEFITS OF USING ARYACOIN
Aryacoin solution offers the following benefits:
Real-time update: whether you’re going on a holiday or a business trip, no problem. You can access your coins all over the world.
Instant operations: Aryacoin makes it quite easy for you to use your digital wallet and perform various operations with it.
Safe and secure: all your data is stored encrypted and can only be decrypted with your private key, seed, or password.
Strong security: The system has no control over your wallet. You are 100% in charge of your wallet and funds.
1.1.5 ARYACOIN FEATURES
1. Anonymity The coin provides decent level of anonymity for all its users. The users can send their transactions to any of the public nodes to be broadcasted , the transaction sent to the nodes should be signed by the private key of the sender address . This allows the users to use the coin anywhere any time , sending transactions directly to the node allows users from any place and country . 2. Real Life Usage aryacoin’s team is continuously developing new and innovative ways to use the coins , they are currently developing exchanges where the users can exchange the coins without any fees and any restrictions . They also are currently developing other innovative technologies, which would allow users to spend our coins everywhere and anywhere. 3. Offline Exchanges They are also working with different offline vendors which would enable them to buy and sell the coins directly to our users on a fixed/variable price this would allow easy buy/sell directly using cash . This would allow the coins to be accessible to users without any restrictions which most of the online exchanges have, also increase the value and number of users along with new ways to spend the coin. This would increase anonymity level of the coin. In addition, introduce new users into the cryptomarket and technology. Creating a revolution, which educates people about crypto and introduce them to the crypto world, which introduces a completely new group of people into crypto and a move towards a Decentralized future! 4. Transactions When it comes to transactions, Aryacoin embraces a chain of digital signatures, where each owner simply transfers the coin to the next person by digitally signing a hash of the previous transaction and the public key of the next owner. The recipient can then verify the signatures to confirm the chain of ownership. Importantly, Aryacoin comes with a trusted central authority that checks every transaction for double spending. 5. Business Partner with Simplex Aryacoin is the first and only Iranian digital currency that managed to obtain a trading license in other countries. In collaboration with the foundation and financial giant Simplex, a major cryptocurrency company that has large companies such as Binance, P2P, Changelly, etc. Aryacoin has been licensed to enter the world’s major exchanges, as well as the possibility of purchasing AYA through Credit Cards, which will begin in the second half of 2020. Also, the possibility of purchasing Aryacoin through Visa and MasterCard credit cards will be activated simultaneously inside the Aryacoin site. plus, in less than a year, AYA will be placed next to big names such as CoinCapMarket, Coinomi, P2P, Coinpayments and many other world-class brands today.
1.1.6 WHY CHOOSE ARYACOIN?
If you want to use a cryptocurrency that allows you to keep your privacy online even when buying and selling the coins, the Aryacoin team claims that AYA is the way to go. Aryacoin is putting in the work: with more ways to buy and sell, and fixing the issues that were present in the original Bitcoin, plus pushing the boundaries with innovative solutions in cryptocurrencies. You can get started using Aryacoin (AYA) payments simply by having a CoinPayments account!
1.1.7 ARYANA CENTRALIZED EXCHANGE
Aryana, the first Iranian exchange is a unique platform with the following features:
The first real international Persian exchange that obtains international licenses and is listed in CoinMarketCap.
The first Iranian exchange that has been cooperating with a legal and European exchange for 3 years.
The possibility of trading in Tomans (available currency in Iran) at the user’s desired price and getting rid of the transaction prices imposed by domestic sites inside Iran.
There is an internal fee payment plan by Iranian domestic banks for depositing and withdrawing Tomans for Aryacoin holders in Aryana Exchange.
The number that you see on the monitor and in your account will be equal to the number that is transferred to your bank account without a difference of one Rial.
The last but not least, noting the fact that there is a trading in Tomans possibility in Aryana exchange.
Aryana Exchange is using the most powerful, fastest, and most expensive server in the world, Google Cloud Platform (GCP), which is currently the highest quality server for an Iranian site, so that professional traders do not lag behind the market even for a second. The feature of Smart Trading Robots is one of the most powerful features for digital currency traders. Digital cryptocurrency traders are well aware of how much they will benefit from smart trading robots. In the Aryana exchange, it is possible to connect exchange user accounts to intelligent trading bots and trade even when they are offline. The injection of $ 1 million a day in liquidity by the WhiteBite exchange to maintain and support the price of Tether and eliminate the Tether fluctuations with Bitcoin instabilities used by profiteers to become a matter of course.
1.1.8 HOW DOES ARYACOIN WORK?
Aryacoin (AYA) tries to ensure a high level of security and privacy. The team has made sure to eliminate any trading restrictions for the network users: no verification is required to carry out transactions on AYA, making the project truly anonymous, decentralized, and giving it a real use in day-to-day life. The Delayed-Proof-of-Work (dPoW) algorithm makes the Aryacoin blockchain immune to any attempts of a 51% attack. AYA defines a coin as a chain of digital signatures — each owner transfers the coin to the next owner by digitally signing the hash of the previous transaction and the public key of the next owner, and the receiver verifies the signatures and the chain of ownership.
2. ARYACOIN TECHNOLOGY
They use a proof-of-work system similar to Adam Back’s Hashcash to implement a distributed timestamp server on a peer-to-peer basis, rather than newspaper or Usenet publications. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash. For their timestamp network, they implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it. The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If honest nodes control a majority of CPU power, the honest chain will grow the fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of the block and all blocks after it, then catch up with, and surpass the work of the honest nodes.
The steps to run the network are as follows:
New transactions are broadcast to all nodes.
Each node collects new transactions into a block.
Each node works on finding a difficult proof-of-work for its block.
When a node finds a proof-of-work, it broadcasts the block to all nodes.
Nodes accept the block only if all transactions in it are valid and not already spent.
This is a very simple system that makes the network fast and scalable, while also providing a decent level of anonymity for all users. Users can send their transactions to any of the public nodes to be broadcast, and the private key of the sender’s address should sign any transaction sent to the nodes. This way, all transaction info remains strictly confidential. It also allows users to send transactions directly to the node from any place at any time and allows the transferring of huge amounts with very low fees.
2.3 AYAPAY PAYMENT SERVICES GATEWAY:
According to creators Aryacoin, the development team has succeeded in inventing a new blockchain technology for the first time in the world, which is undoubtedly a big step and great news for all digital currency enthusiasts around the world. This new technology has been implemented on the Aryacoin AYAPAY platform and was unveiled on October 2. AYAPAY payment platform is the only payment gateway in the world that does not save money in users’ accounts and transfers incoming coins directly to any wallet address requested by the gateway owner without any additional transaction or fee. In other similar systems or even systems such as PayPal, money is stored in the user account.
2.4 CONSENSUS ALGORITHM IN ARYACOIN
The devs introduced the Delayed-Proof-of-Work (dPoW) algorithm, which represents a hybrid consensus method that allows one blockchain to take advantage of the security provided by the hashing power of another blockchain. The AYA blockchain works on dPoW and can use such consensus methods as Proof-of-Work (PoW) or Proof-of-Stake (PoS) and join to any desired PoW blockchain. The main purpose of this is to allow the blockchain to continue operating without notary nodes on the basis of its original consensus method. In this situation, additional security will no longer be provided through the attached blockchain, but this is not a particularly significant problem. dPoW can improve the security level and reduce energy consumption for any blockchain.
2.5 DOUBLE-SPEND PROBLEM AND SOLUTION
One of the main problems in the blockchain world is that a receiver is unable to verify whether or not one of the senders did not double-spend. Aryacoin provides the solution, and has established a trusted central authority, or mint, that checks every transaction for double-spending. Only the mint can issue a new coin and all the coins issued directly from the mint are trusted and cannot be double-spent. However, such a system cannot therefore be fully decentralized because it depends on the company running the mint, similar to a bank. Aryacoin implements a scheme where the receiver knows that the previous owners did not sign any earlier transactions. The mint is aware of all transactions including which of them arrived first. The developers used an interesting solution called the Timestamp Server, which works by taking a hash of a block of items to be ‘timestamped’ and publishing the hash. Each timestamp includes the previous timestamp in its hash, forming a chain. To modify a block, an attacker would have to redo the proof-of-work of all previous blocks, then catch up with, and surpass the work of the honest nodes. This is almost impossible, and makes the network processes more secure. The proof-of-work difficulty varies according to circumstances. Such an approach ensures reliability and high throughput.
3. ARYACOIN ROADMAP
April 2019: The launch of Aryacoin; AYA ICO, resulting in over 30BTC collected December 2019: The launch of AYA Pay April 2020: The successful Hamedan Hardfork, supported by all AYA exchanges, aimed at integrating the dPoW algorithm, improving the security of the AYA blockchain. June 2020: Aryana Exchange goes live, opening more trading opportunities globally July 2020: The enabling of our Coin Exchanger November 2020: The implementation of Smart Contracts into the Aryacoin Ecosystem Q1 2021: Alef B goes live (more details coming soon)
Aryacoin (AYA) is a new age cryptocurrency that combines the best of the blockchain technology and strives to deliver high trading and mining standards, enabling users to make peer-to-peer decentralized transactions of electronic cash. Aryacoin is part of an ecosystem that includes payment gateway Ayapay and the Ayabank. AYA has a partnership with the Microsoft Azure cloud platform, which provides the ability to develop applications and store data on servers located in distributed data centers. The network fee for the AYA Blockchain is 0%. In Ayapay service, which has been developed by the Aryacoin team, all funds without extra fees or costs are directly forwarded to users’ wallets with technology called CloudWithdrawal. The devs team is introducing new use cases including exchanges where users will exchange AYA without any restrictions. You can buy AYA on an exchange of your choice, create an Aryacoin wallet, and store it in Guarda.
When a user navigates from Google to a piece of content Google has recommended (or when a user clicks on a shared cached AMP link), they are, unwittingly, remaining within Google’s ecosystem and the publisher’s domain is obscured by the google.com/amp prefix. To work around this Google introduced Signed HTTP Exchanges ([Draft], , ), a web-standard that allows the browser to display the original site's URL, instead of the actual one (the one with the google.com/prefix). This would solve the original issue, but while doing so it introduced new ones (e.g. it obfuscates the fact that they're delivering the AMP page you're visiting). Interestingly enough, Google's Chrome already has support for this technology, but parties not involved with AMP are not so enthusiastic: Mozilla has deemed it a harmful web standard, and Apple has taken a similar stance.
Google’s entire business model is about collecting as much personal data as possible, AMP is just another tool to do so. As described in Google’s Support article:
“When you use the Google AMP Viewer, Google and the publisher that made the AMP page may each collect data about you.”
The controversies with non-cached AMP pages To be clear, the above flaws are only with AMP pages cached by Google (or another party like Bing or Cloudflare) but there are also plenty of pages simply utilizing the AMP framework, recognized by URLs such as bbc.com/news/amp/. However, these are also problematic, mainly because there's only a small performance improvement when AMP pages aren't cached and AMP pages tend to be less feature-rich and less diverse than their originals. And in some edge cases, it breaks stuff. One could argue that the more popular the AMP framework becomes, the more AMP threatens the open web. That said, it should be clear that the biggest problem lies with the cached AMP pages. AMP is open source, but that doesn't make it holy. Or as Ferdy Christant puts it quite nicely in his blog:
Google’s main defense is that AMP is open source. Which isn’t just a weak defense, it’s no defense at all. I can open source a plan for genocide. The term “open source” is meaningless if the thing that is open source is harmful.
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This is all ridiculously hypothetical; and is probably best ignored. Bust, having had the thought, I can’t stop thinking about it. So if you are in to detailed descriptions of low probability events, please enjoy the rabbit hole. I know people like the idea of a gold standard, but it is unpalatable. Having worked in mining, there is a tail risk a deposit can be found which devalues existing assets. It is pegging your finances to the unknown, and it was abandoned for a reason. This is why, since World War II, the USD has been a global reserve currency. And it kept this role after it abandoned the gold standard in the 1970’s. This has remained the case for a number of reasons: 1) The US has been a surprisingly large chunk of global GDP: in the post WWI world under the Bretton Woods system, the US at one point represented 50% of GDP, crucially at a time when other countries were getting their financial house in order. US treasuries, particularly when the dollar was still backed by gold, were one of the safest investments. A reminder that US debt isn’t just about profligacy, but also about long-term yields. 2) This created a built-in house wins effect - when the US removed the gold standard, countries stayed with the USD because it was still so stable compared to other options - and they were already heavily invested. As a fiat, the US can run higher deficits because other counties hand it cash for their own stability stability (you can almost think of US debt like tribute to a dominant political power, or protection money to the mafia). 3) No competitors. I understand the skepticism about fiat in this community - but if you had to choose a fiat, what would be the alternative to the USD? The Renminbi’s value is manipulated by Chine. The Euro lacks a body like the US federal reserve to intervene in the event of inflation, and the block is increasingly unstable. The US government has supported its currency as the global reserve currency because it vastly strengthens its hand in international diplomacy. US sanctions against countries like Iran are effective because the US can enforce financial penalties via soft power through other countries banking systems. This is why there is increasing pressure from countries like Russia and China to find another reserve currency. But it is bad for the US economy to be the reserve currency. Think about manufacturing. If your currency goes through inflation, then your exports cheapen relative to other markets. This is why the Chinese government tries to peg the Renminbi at a little over 8 yuan to the USD. Thus they can Incentivize manufacturing to move to their county. The US cannot play the same game - because it is the denominator for other countries financial systems, it is guaranteed to be on the losing side of the equation every time. Thus despite its strong post-war economy, manufacturing was always doomed to leave, which has introduced instability in the US political system. Allowing the USD to inflate (as all fiats want to do) relative to a global currency would incentivize manufacturing to return. Or, at minimum, stem the bleeding. That said, there would be significant disruption from the higher deficits the US has run for decades. Crypto As The Global Reserve For a global reserve currency, the following conditions must be met (there are others, but this is the minimum):
Must remain stable (I can hear the eyes rolling, but hang in with me here)
(politically) Must convince other nations that it is at greater risk of deflation than inflation (e.g. value more likely to go up than down over the long term).
(politically) Must have a secure transaction system that cannot be manipulated to benefit one country over another (e.g. satisfy concerns of China, Russia, and others).
Crypto, despite its short life, is capable of achieving these. The system designed by Satoshi and adopted by others is as strongly counter-inflationary as possible. From the viewpoint of a global reserve currency, this structurally removes the need for a body like the US federal reserve. The deflation side of the coin would potentially convince the US government to let go of its global financial role for the sake of economic growth. The big negatives of using crypto as a global reserve are its current volatility and its slow transaction times. The latter is a technological problem that can be solved either by speeding up times or guaranteeing value at time of transaction. The first I suspect may be a self-fulfilling prophecy. Once a currency is the global reserve denominating debts, confidence would follow out of political and financial necessity. Power resides where people think power resides. This would be a long term road for Crypto if it continues for the next two decades. Ideally; a slowly deflating world reserve would provide inflationary benefits to all counties. It would also potentially stabilize fiat currencies barring government manipulation. But in that case, government manipulation would be more obvious and less an us-vs-them scenario given the current financial system. Any such transition, should it happen, would taken one of two form. Either a) a significant economic crisis forces the US to accept a shock on its high deficits or b) the transition to crypto occurs slowly enough over decades to allow a battleship-style course realignment. The biggest obstacle I see to crypto is climate change. Most countries take it very seriously (imho, as they should), and crypto has a high energy cost, thus a high carbon cost. Most countries are bound by diplomatic and treaty agreements to hit certain targets. A crypto system would need to resolve this to have a chance at being the global reserve. Or, renewable energy infrastructure would be built fast enough so that a given crypto is at least carbon neutral. Lastly, it is possible that this transition could happen after mining is no longer profitable. If Bitcoin, for example, exists in 2050 and is still undergoing slow deflation while block rewards are infinitesimally small, it may behave in ways that satisfy concerns about stability. tl;dr: Structural deflation in crypto could satisfy political and economic needs for a global reserve currency in a multi-polar world.
My passion is to push real world adoption in Venezuela, I usually go and test the merchants (which are being promoted on discoverdash and marcocoino [coinmaporg is totally useless outdated data]) if they actually accept any coins and if that is the case I promote them on Bitcoin Map DASH adoption is actually quite big in Venezuela for the simple fact, that they have been here for 1.5 years investing 100k+ into various conferences and teams working on the ground visiting the merchants. But still BTC adoption is bigger! Most people here are doing BTC transactions via localbitcoins, which is free of tx cost as long as they keep their funds on that website. Venezuelans are very trustful people, they do not care much about a wallet being non custodial. They do not actually understand the technical details too much. Even as localbitcoins was blocked in Iran and that could easily happen to Venezuela too... So far ALL the merchants I met do accept BTC in addition to DASH and if that was not the case, then by now I helped them to install the Coinomi Wallet which supports all the coins and I always educate them to accept BTC, DASH and BCH. BCH adoption is very low here, even as bitcoincom paid some promoters to put the (now outdated) brand sticker of themselves on their door in addition to the BCH logo. 8 out of 10 merchants which are promoting to accept BCH do not actually do that, there was uploaded a 10 part series video proof here: https://www.youtube.com/watch?v=dylda-3kHKs I want to create a multi-coin environment, where everyone is free to choose which coin he would like to use, different humans have different interests but my interest is just to support any unfakeable coin!
I'm trying to put together a list of what's coming out this year. Have this very simple list so far. Anyone care to add anything or suggest some better dates?
Latest News (most recent first) - Instant channels enable safe Lightning payments with unconfirmed funding Beta - Feb 10, 2019 - Voyager, New trading app from Uber & E-Trade execs announce launch date - Feb 9, 2019 - bumi/blockstream_satellite ruby gem for the Blockstream Satellite API - Feb 8, 2019 - New Zap Desktop 0.3.4 is out. New features, massive performance - Feb 8, 2019 - New release: @lightning desktop app v0.4.0-alpha - Feb 8, 2019 - valerio-vaccaro/Liquid-dashboard - Feb 7, 2019 - Japanese SBI Holdings will allow trading of coins - March 2019 - lnd v0.5.2-beta released - Feb 6, 2019 - Koala studios launches online LN gaming platform - Feb 6, 2019 - Independent Reserve has become the first #crypto exchange in Australia to be insured, with coverage underwritten by Lloyd's of London. - Feb 6, 2019 - Coinbase announces BTC support for their mobile (keep your own keys) wallet - Feb 6, 2019 - Blockstream published a new open source Proof of Reserves tool. - Feb 5, 2019 - RTL release v0.1.14-alpha - Feb 5, 2019 - dr-orlovsky/typhon-spec spec for new trestles side chain published - Feb 5, 2019 - Payment requests coming soon to BTCPay. - Feb 5th, 2019 - Kraken Acquires Futures Startup In Deal Worth At Least $100 Million - Feb 5th, 2019 - Next Blockchain cruise scheduled for June 9-13 - Feb 4, 2019 - Work on a GoTenna plugin to Electrum wallet in progress - Feb 4, 2019 - Bitcoin Candy Dispensers being open sourced - Feb 4, 2019 - New release of JoinMarket v0.5.3 - Feb 4, 2019 - Prime Trust won’t charge its clients to custody digital assets any longer. - Feb 4, 2019 - nodogsplash/nodogsplash wifi access using LN - Feb 3, 2019 - @tippin_me Receive tips using Lightning Network adds message feature - Feb 3, 2019 - Bitcoin-for-Taxes Bill in NH Unanimously Approved by House Subcommittee - Feb 3, 2019 - Full support for native segwit merged into bitcoinj - Feb 3, 2019 - Bitfury is partnering with financial services firm Final Frontier! - Feb 2, 2019 - Now you can open #LightningNetwork channels in @LightningJoule - Feb 2, 2019 - Integrating Blockstream’s Liquid payments on SideShift AI - Feb 1, 2019 - Wyoming legislature passes bill to recognize cryptocurrency as money - Feb 1, 2019 - Casa is open sourcing the code for the Casa Node - Feb 1, 2019 - Casa Browser Extension released - v0.5.2-beta-rc6 of lnd, full release getting very close now - Feb 1, 2019 - Tallycoin adds subscriptions and paywall features in bid to rival Patreon - Jan 31, 2019 - Static channel backup PR merged into LN - Jan 31, 2019 - The NYDFS grants another Bitlicense to ATM operator - Jan 31, 2019 - @pwuille currently proposing the “MiniScript” language to describe BTC output locking conditions for practical composition - Jan 31, 2019 - Fidelity is in the “final testing” phase for its new digital asset business - Jan 31, 2019 - Hardware wallet PR #109 just got merged so that @Trezor no longer requires user interaction for PIN - Jan 31, 2019 - CBOE, VanEck & SolidX filed a new & improved bitcoin ETF proposal. - Jan 31, 2019 - Casa Node code is now open sourced - Jan 31, 2019 - Next Bitoin halving in roughly 497 days - Jan 31, 2019 - BTCPay released 18.104.22.168 - Jan 31, 2019 - @binance now lets users purchase cryptos using Visa and Mastercard credit. - Jan 31, 2019 - Bitfury to Launch Bitcoin Operations in Paraguay - Jan 31, 2019 - Coinbase introduces very generous affiliate program - Jan 30, 2019 - DOJO Trusted Node bitcoin full node. Coming Early 2019 - Jan 30, 2019 - FastBitcoins.com Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 30, 2019 - TD Ameritrade says clients want cryptocurrency investment options - company plans major announcement in 'first half of 2019' - Jan 30, 2019 - Storage component of Fidelity's @DigitalAssets live, with some assets under management, @nikhileshde - Jan 29, 2019 - lightning mainnet has reached 600 BTC capacity - Jan 29, 2019 - Drivechain shows picture of Grin side chain and suggests might be ready in 2 month - Jan 29, 2019 - Lightning labs iOS neutrino wallet in testing stage now - Jan 29, 2019 - Aliant offering cryptocurrency processing free-of-charge - Jan 29, 2019 - Chainstone’s Regulator product to manage assets on the way - Jan 29, 2019 - Fidelity Investments’ new crypto custody service may officially launch in March. - Jan 29, 2019 - Gemini's becomes FIRST crypto EXCHANGE and CUSTODIAN to complete a SOC 2 Review by Deloitte - Jan 29, 2019 - Iran has lifted the ban on Bitcoin and cryptocurrency - Jan 29, 2019 - Confidential Transactions being added into Litecoin announcement - Jan 28, 2019 - http://FastBitcoins.com Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 28, 2019 - Germany’s largest online food delivery platform now accepts btc - Jan 27, 2019 - Launching a Bitcoin Developers School in Switzerland - Jan 27, 2019 - RTL release v0.1.13-alpha Lightning Build repository released - Jan 27, 2019 - The first pay-per-page fantasy novel available to Lightning Network. - Jan 27, 2019 - Numerous tools become available to write messages transmitted with Blockstream Satellite - Jan 26, 2019; - BTCPay 22.214.171.124 released - Jan 26,2019 - WordPress + WooCommerce + BTCPay Plugin is now live - Jan 25, 2019 - Juan Guaido has been promoting #Bitcoin since 2014 is new interim president of Venezuela - Jan 25, 2019 - Morgan Creek funds @RealBlocks - Jan 25, 2019 - Coinbase integrates TurboTax - Jan 25, 2019 - Robinhood received Bitlicense - Jan 25, 2019 - Anchor Labs launches custody - Jan 25, 2019 - NYSE Arca files w/ @BitwiseInvest for BTC ETF approval - Jan 25, 2019 - South Korea, Seoul, Busan & Jeju Island currently working to create pro crypto economic zones. - Jan 25, 2019 - valerio-vaccaro/Liquid-dashboard - Jan 25, 2019 - Bermuda to launch crypto friendly bank - Jan 25, 2019 - Mobile Bitcoin Wallet BRD Raises $15 Million, Plans for Expansion in Asia - Jan 25, 2019 - BullBitcoin rolling out alpha access of platform - Jan 25, 2019 - Electrum Wallet Release 3.3.3 - Jan 25, 2019 - Bitrefill, purchase Bitcoin and have it delivered directly over LN - Jan 25, 2019 - South Korean crypto exchange Bithumb looking to go public in USA - Jan 24, 2019 - Bitcoin Exchanges Don’t Need Money Transmitter Licenses in Pennsylvania - Jan 24, 2019 - US; New Hampshire Bill Aims to Legalize Bitcoin for State Payments in 2020 - Jan 24, 2019 - Robinhood, LibertyX Receive Licenses from New York Regulators - Jan 24, 2019 - Bakkt Bitcoin futures contract details released - Jan 24, 2019 - Blockstream CryptoFeed V3 now includes 30+ venues and 200M+ updates per day - Jan 24, 2019 - Binance Jersey – The Latest Binance European Exchange - Jan 2019
Bitfury Rolls Out Lightning Peach, Its Own Suite of Lightning Tools - Jan 24, 2019
Good news. v3.6.2 just hit the play store for Android. - Jan 24, 2019
Bitrefill - LN now accounts for more payments than alts - Jan 24, 2019
proofd.app allows you to store a checksum of a doc on the blockchain - Jan 24, 2019
487 days until bitcoin halving - Jan 23, 2019
New #GalaxyS10 coming with ‘Samsung Blockchain KeyStore’- Jan 24, 2019
Proof-of-Reserves tool for Bitcoin github.com/stevenroose/reserves - Jan 24, 2019
Lightning Network Pac-Man Arcade introduced - Jan 23, 2019
ExpressVPN: Ranked #1 out of 100 VPNs that we tested ExpressVPN is one of the most popular VPN services on the market, but is it really the “#1 trusted leader in VPN” as it claims to be? We put ExpressVPN through rigorous testing and in this review we’ll tell you if it’s honestly the top VPN of 2019, and we’ll answer common questions like: Is ExpressVPN really that fast? Is it legit and safe to use? Does ExpressVPN unblock Netflix? Does ExpressVPN allow torrenting? How much does ExpressVPN cost? But before we jump in, here’s a quick overview of ExpressVPN’s pros and cons: Pros Cons Exceptionally fast same-country speeds Works with Netflix, BBC iPlayer & more Safe, fast & unrestricted torrenting/P2P Strong logging policy & no IP, DNS, WebRTC leaks User-friendly apps for PC, Mac, iOS, & Android Great server network across 94 countries More expensive than some rivals Fire Stick TV app needs updating Works with Netflix, BBC iPlayer, HBO, Hulu, Amazon Prime Video, Sky, SlingTV, Torrenting, Kodi Available on Windows Mac Ios Android Linux Price from $6.67/mo That’s just a few highlights of what’s to come. Keep reading to see if ExpressVPN is the right VPN for you, starting with how fast it is. Speed & Reliability One of the fastest VPNs we've tested ExpressVPN is one of the fastest VPN services we’ve tested – it’s extremely quick and responsive. ExpressVPN is also remarkably reliable and consistent, whether you’re connecting to a local server, or one on the other side of the world. It’s speed is also very impressive in high censorship countries like China, where most other VPN services struggle to even connect. Use the table below to see how ExpressVPN speeds fare against its top-scoring rivals in 11 locations around the world. Select server location ExpressVPN NordVPN IPVanish DOWNLOAD AVERAGE 52.10 Mbps 69.67 Mbps 44.83 Mbps UPLOAD AVERAGE 23.84 Mbps 27.86 Mbps 27.70 Mbps PING AVERAGE 141 ms 135 ms 131 ms Here are the average speeds you can expect from ExpressVPN from a handful popular regions. Europe Asia USA Australia DOWNLOAD AVERAGE 125 Mbps 47 Mbps 151 Mbps 129 Mbps UPLOAD AVERAGE 101 Mbps 34 Mbps 135 Mbps 113 Mbps PING AVERAGE 73 ms 3 ms 4 ms 2 ms Averages are calculated from our test results over the last 4 weeks. To read about our speed testing methodologies, please read How We Test VPN Speed. Speed results from our physical location in London (100Mbps fibre optic connection) to a London test server. Before using ExpressVPN: DOWNLOAD Mbps 95.71 UPLOAD Mbps 98.71 PING ms 3 When connected to ExpressVPN: DOWNLOAD Mbps 85 UPLOAD Mbps 91.22 PING ms 8 Download speed without ExpressVPN: 95.71Mbps Download speed with ExpressVPN: 85.00Mbps Our download speed loss when ExpressVPN is running: 11% On top of fast download and upload speeds, ExpressVPN’s low latency and low ping times make it a good VPN for gaming, not as good as other VPN services but a strong gaming contender nonetheless. From our location in the UK, we tested average speeds connecting out to various locations worldwide while connected to ExpressVPN: USA: 77Mbps (download) & 40Mbps (upload) Germany: 79Mbps (download) & 66Mbps (upload) Singapore: 73Mbps (download) & 22Mbps (upload) Australia: 59Mbps (download) & 1Mbps (upload) Server Locations 3,000+ servers across 160 locations Globe with a blue flag 94 Countries Image of a city landscape 160 Cities Image of a pink marker 3,000+ IP Addresses See all Server Locations ExpressVPN operates more than 3,000 VPN servers across the world, spread evenly over every continent (excluding Antarctica). No matter where you’re located you should have no trouble finding an ExpressVPN server near you. 3,000 servers is one of the widest ranges of servers we’ve seen from any VPN service, and the ExpressVPN website even lists which VPN security protocols are available in each location (either country or city). ExpressVPN provides city-level servers in a number of locations, too: US UK Australia Brazil India Singapore Netherlands Germany France Italy Spain ExpressVPN’s 27 different city-level locations in the US and in four in Australia are some of the highest totals we’ve seen. Streaming & Torrenting Instantly unlocks Netflix, BBC iPlayer and torrenting ExpressVPN easily unlocks Netflix through almost all of its US-based VPN servers (apart from New York), even if it doesn’t offer servers dedicated to streaming like some of the other top-tier VPN services like CyberGhost. ExpressVPN’s Isle of Man and Jersey servers work well with UK Netflix, while most UK servers will unlock BBC iPlayer (although customer support informed us it will only work if you’re located outside of the UK). ExpressVPN is also a popular choice with viewers of a whole range of other big streaming services. Plenty of subscribers enjoy using ExpressVPN with: Amazon Prime Video Hulu HBO Sling TV Sky Now TV PlayStation Vue The following ExpressVPN servers worked for unlocking Netflix: USA (New Jersey, Washington DC, San Francisco) Canada (Montreal, Toronto, Vancouver) UK (Isle of Man, Jersey) Torrenting Torrenting and any type of P2P traffic is allowed on all ExpressVPN servers, resulting in less congestion and faster speeds as a bonus. ExpressVPN registered fast speeds both downloading and uploading, which is fundamental for a good torrenting and P2P experience. ExpressVPN also works for those looking to stream via Kodi or similar media player apps. Privacy and security-wise, ExpressVPN’s kill switch works extremely well (should your VPN connection drop at any point) and when we tested ExpressVPN for IP or DNS leaks, we found zero. What’s more, ExpressVPN doesn’t keep any activity logs. You can read more about all of this below. Bypassing Censorship Works in China, UAE and more ExpressVPN works in China, bypassing Chinese censorship with ease, largely thanks to the company devoting significant resources into outsmarting the censors. That is why ExpressVPN is our best VPN for China. If you have protocol selection switched to Automatic, ExpressVPN’s proprietary obfuscation security protocols are activated, which are very effective in beating aggressive state-level censors. These obfuscation protocols ensure that its VPN apps easily beat even the most aggressive of blocks in countries like Turkey, Saudi Arabia and Iran. Platforms & Devices Works with all popular devices Apps Windows Logo Windows Mac Logo Mac iOS Logo iOS Android Logo Android Linux Logo Linux Router Logo Router ExpressVPN supports just about any operating system or device out there – Microsoft Windows, MacOS, iOS and Android – with installation instructions given for each one. Where ExpressVPN doesn’t have a native dedicated VPN app, you have access to a walkthrough on the ExpressVPN website to show you how to set up a workaround. Games Consoles & Streaming Devices AppleTV Logo AppleTV Amazon Fire TV Logo Amazon Fire TV Chromecast Logo Chromecast Nintendo Logo Nintendo PlayStation Logo PlayStation Roku Logo Roku Xbox Logo Xbox ExpressVPN is one of the best VPN services for Amazon’s Fire TV Stick, although it is not our number one choice. Why is not our top pick? Well, ExpressVPN may have been one of the first VPN providers to roll out a Fire TV Stick app, and it works fine, but it’s grown to look out-dated and lacks some of the features that we’ve enjoyed in more recent Fire TV Stick VPN apps. If you own a Fire TV Stick and want to use a VPN app with it, take a look at our top VPN picks for Amazon Fire TV and Fire TV Stick. If you want to run ExpressVPN on other streaming devices or games consoles, you’ll need to install ExpressVPN at router level, or you can piggyback off of the VPN connection from another device, like your PC or Mac. Browser Extensions Chrome Logo Chrome Firefox Logo Firefox Safari Logo Safari ExpressVPN provides full VPN browser extensions for Google Chrome, Mozilla Firefox, and Safari. Most of the VPN browser add-ons we see from other VPN providers are proxies pretending to be full VPNs, but ExpressVPN’s extensions are the real deal. You can choose your server location from within the browser extension, which is a really neat solution. Thanks to a recent update you can now use ExpressVPN on five different devices at once, too. Encryption & Security Leader in security, with strong extras like a VPN kill switch & obfuscation protocols Protocol IKEv2/IPSec L2TP/IPSec OpenVPN (TCP/UDP) PPTP SSTP Encryption AES-256 Security DNS Leak Blocking First-party DNS IPV6 Leak Blocking VPN Kill Switch WebRTC Leak Blocking Advanced features Split Tunneling Please see our VPN Glossary if these terms confuse you and would like to learn more. ExpressVPN is a legitimate and extremely secure VPN service, with a multitude of standards and VPN protocols in place to keep your browsing data private and secure. If you leave the VPN protocol setting on Automatic then the ExpressVPN app will determine what is the best security protocol to use – a handy feature that’s not all that common. AES-256 encryption is widely regarded as near-unbreakable; OpenVPN, our favorite VPN protocol, is one of many available; and ExpressVPN also has the always-essential VPN kill switch, ensuring you stay protected in the event of your connection dropping. Split tunneling is yet another powerful feature that’s not all that common among VPN services. It allows you to protect your web traffic while keeping access to connected devices on your network, like your printer or Smart TV. We found ExpressVPN to be fully protected from any IP or DNS leaks, too. You can count on ExpressVPN to successfully hide your real IP address. ExpressVPN recently launched its TrustedServer feature, a proprietary technology that removes the need for local storage such as hard disks or solid state drives. Once again, ExpressVPN is leading the pack when it comes to security and privacy. Logging Policy Close to truly no-logs and away from 14-Eyes ExpressVPN doesn’t collect any personally identifiable activity logs. Here’s all the information collected by ExpressVPN’s VPN servers: Dates when connected to the VPN service Choice of VPN server location Total amount of data transferred per day That’s it. ExpressVPN maintains that this is the minimum amount of information required to be collected in order to keep the performance of its servers as strong as possible. The most important thing of all is that this data cannot be used to identify you, or what you do. All that’s possible to reveal is that you have used ExpressVPN’s service at some point. This is totally anonymous, and about as close to zero-logs as you can get. A recent report by the Center for Democracy and Technology (CDT) questioned ExpressVPN in greater detail and concluded that its servers were both “extremely difficult to compromise” and “limited in the amount of data that could be revealed” in the event that they were. ExpressVPN’s logging policy was put to the test in December 2017 when one of ExpressVPN’s Turkish VPN servers was seized and inspected by Turkish authorities investigating the assassination of Russian ambassador to Turkey, Andrei Karlov. The investigators could not find any customer connection logs. Jurisdiction ExpressVPN was founded in 2009 and is operated by Express VPN International Ltd., which is based in the British Virgin Islands and far outside of the intrusive 14-eyes surveillance alliance. That’s an excellent choice of location for a privacy-minded VPN company, as the British Virgin Islands has full sovereignty over its own data regulations. Foreign governments can still make demands for information, but ExpressVPN makes it clear that it will never share data with them and, crucially, that it doesn’t have any personally identifiable information to share in the first place. In case you’re still wondering, you’re safe with ExpressVPN. Ease of Use Hassle-free setup and easy to get started How to Install & Set Up ExpressVPN Screenshot of the ExpressVPN installation wizard This is the screen you'll see after you've downloaded your chosen software from the ExpressVPN website. Screenshot of the ExpressVPN download success screen When the installation is complete, you'll receive a prompt to start the ExpressVPN app. Screenshot of the activation code box in the ExpressVPN app Before you can start using the app, you'll need to enter the activation code provided in your welcome email. Screenshot of the main screen of ExpressVPN's desktop app The main view of the ExpressVPN screen - just click connect to fire up your new VPN. Screenshot of ExpressVPN while connected The on/off button turns green when you're connected, and clearly displays your chosen server location. Screenshot of ExpressVPN's list of server locations Your favorite server locations display here in a separate window. Screenshot of ExpressVPN's protocol choices in the desktop app Choose your protocol here - we really like the helpful contextual information provided ExpressVPN is so easy to use that it’s hard to go wrong – not just with the main desktop client, but also with its many device-specific apps and browser extensions. The ExpressVPN home screen is simply a big on/off button and a list of VPN servers, but if you want to customize things you can also find advanced settings behind a separate menu. Even ExpressVPN’s advanced options are explained in plain and easily-understood language, so you’ll never be making changes without knowing exactly what you’re doing. Browser Extensions ExpressVPN’s browser extensions are available for Chrome, Firefox and Safari. They give you full protection that fully masks your web activity without you having to leave your browser window. Customer Support Responsive and friendly live chat 24/7 Live chat support Email Online Resources ExpressVPN’s helpful 24/7 live chat means if you ever have a problem, you’ll be back up and running as quickly as possible. ExpressVPN really is one of the most customer-focused VPN services we’ve reviewed, and the ExpressVPN support team makes sure to keep you happy before and well after you’ve become their customer. You can also reach out to ExpressVPN’s customer support via email, with equally responsive, helpful and enthusiastic responses. Pricing & Deals A little expensive, but well worth it ExpressVPN Coupon ExpressVPN logo ExpressVPN Get 3 months free with ExpressVPN's 12-month plan TestedEnds in 2 days Get CodeED Terms ExpressVPN Pricing Plan ExpressVPN provides the same features on all its price plans, so the only decision to make is how much you want to pay upfront and how much your subscription costs you per month. The longer you subscribe to ExpressVPN for, the cheaper the monthly cost: a single month of ExpressVPN costs $12.95 (which is more costly than other 1-month plans offered by its rivals), but there’s a 49% reduction to $6.67 for a 15-month plan, which is great value for the best VPN service around. Monthly US$12.95/mo Billed $12.95 every month 6 Months US$9.99/mo Billed $59.95 every 6 months Save 23% 15 Months US$6.67/mo Billed $99.95 first 15 months and 12 months thereafter Save 49% All plans have 30-day money-back guarantee Payment & Refund Options Credit Card PayPal Bitcoin AliPay UnionPay You’re entitled to a 30-day money-back guarantee when you first sign up to ExpressVPN. We found that they grant refunds quickly and with no questions asked, after we made a simple request to customer service. ExpressVPN doesn’t have a true free trial in place, but take a look at our guide on how you can make the most of the 30-day refund guarantee. There’s also a ‘Refer a Friend’ program which earns you a 30-day free ExpressVPN subscription for both you and the friend you convince to sign up – plus there’s no limit to the number of friends you can refer.
CyberGhost VPN is one of the most established VPN services around. It was founded by Robert Knapp in 2011, and it quickly became one of the most popular free VPNs. CyberGhost currently has over 30 million users and its popularity keeps growing but the question is, how does it compare to other top VPN providers? In this review you will learn what is good and what is not so good about CyberGhost, and you will find answers to popular questions like: Is using CyberGhost safe? Is it legal and does it really work? Does CyberGhost still have a free version? Does it work with Netflix? Is torrenting & P2P allowed? Before we answer all these questions (and many more), lets first examine CyberGhost VPN’s pros and cons: Pros Fast speeds: 64Mbps (global average) Unlocks Netflix, BBC iPlayer & other streaming sites Optimized servers for torrenting/P2P traffic Strong logging policy & no IP/DNS/WebRTC leaks User-friendly apps for PC, Mac, iOS, & Android Great server network across 60 countries Cons Torrenting not available on US & Australia servers Doesn't work in high censorship countries Not recommended for Kodi 14-day refund guarantee on 1-month plan Works with Netflix, Amazon Prime Video, Hulu, BBC iPlayer, Sky, HBO, Torrenting Available on Windows Mac Ios Android Linux Price from $2.75/mo As you can see CyberGhost is without a doubt an impressive VPN, but there are a few drawbacks that you need to know about in more detail. Lets start off our in-depth review by looking at how fast CyberGhost really is. Speed & Reliability Very fast speeds, especially for same-country connections CyberGhost will match almost any VPN service for fast download and upload speeds, but what it occasionally lacks is consistency. CyberGhost VPN’s same-country (for example, London to London) download and upload speeds are impressive and reliable, but CyberGhost users connecting to international servers may notice a drop-off in speed, with ping times also increasing. Speed results from our physical location in London (100Mbps fibre optic connection) to a London test server. Before using CyberGhost: DOWNLOAD Mbps 95 UPLOAD Mbps 97 PING ms 2 When connected to CyberGhost: DOWNLOAD Mbps 54 UPLOAD Mbps 77 PING ms 13 Download speed without CyberGhost: 95 Mbps Download speed with CyberGhost: 54 Mbps Our download speed loss when CyberGhost is running: 43% We put all of the VPNs on the site through a rigorous scientific speed testing process, determining the average speeds from multiple locations across the globe. These are the average speeds you can expect to pick up from these locations: USA: 51Mpbs (download) & 41Mbps (upload) Germany: 78Mbps (download) & 74Mbps (upload) Singapore: 28Mpbs (download) & 15Mbps (upload) Australia: 32Mbps (download) & 7Mbps (upload) Server Locations 4,600 servers around the world Globe with a blue flag 60 Countries Image of a city landscape 84 Cities Image of a pink marker 4,680+ IP Addresses See all Server Locations CyberGhost’s servers cover the whole world, with great server coverage in Europe and North America. A choice of over 4,680 servers is paired with a similar number of IP addresses. Screenshot of CyberGhost VPN server locations in Windows app 4,600 servers is a very good number, and one of the highest server counts on the market. While it’s considerably less than NordVPN‘s 5,000 plus servers, it is still a very high number of VPN servers. Similarly to IPVanish, CyberGhost owns all of its DNS servers meaning that it doesn’t rely on rented servers to provide VPN connections. The countries with the most CyberGhost servers are the US (1085), Germany (608), France (324), the UK (665) and Canada (223). At city-level, CyberGhost covers 13 different US locations, and 3 locations in Australia, Canada and the UK. Streaming & Torrenting Great for Netflix, Torrenting and More CyberGhost provides many dedicated Netflix servers, which is great. They are very east to find in the app and we’ve never had any issues unblocking Netflix when using CyberGhost VPN. CyberGhost has also its own dedicated BBC iPlayer server, too, and CyberGhost is currently our highest-recommended VPN for BBC iPlayer. That’s not all, though. CyberGhost subscribers also report that they can successfully stream: Amazon Prime Video Hulu HBO Sling TV Sky Now TV PlayStation Vue Torrenting CyberGhost is also a good choice for torrenting, although there are a couple of caveats: It doesn’t allow torrenting on its US or Australian servers Torrenting on mobile is a hassle compared to Windows and macOS applications You can torrent from mobile while using CyberGhost if you check and select the existing P2P servers on the desktop app or on the website. P2P torrenting is allowed on mobile, but there is no tab to find out which work. If you’re ok with these P2P limitations, then CyberGhost is a safe, fast and reliable VPN for torrenting. CyberGhost doesn’t log, it has a VPN kill switch and when we checked for IP/DNS leaks, we found none. If however the torrenting limitations above are putting you off, then take a look at our best VPNs for torrenting. Bypassing Censorship No good for China and highly censored countries We can’t recommend CyberGhost as a VPN to use in high censorship countries, as it simply can’t guarantee to bypass aggressive web censors. Unfortunately CyberGhost doesn’t have the obfuscation tools that make ExpressVPN and VyprVPN better VPN services to beat online censorship in countries like China, the UAE, Saudi Arabia and Iran. CyberGhost even warns that you use of a VPN in certain countries is forbidden and CyberGhost VPN shouldn’t be used in these nations. CyberGhost does mention that workarounds to make its VPN work in these countries are available, but that you shouldn’t try them. Basically, CyberGhost doesn’t want people to use its VPN in countries where VPNs are not legal. Platforms & Devices Compatible with popular devices, including routers Apps Windows Logo Windows Mac Logo Mac iOS Logo iOS Android Logo Android Linux Logo Linux Router Logo Router Whatever your device or operating system, CyberGhost has you covered with either a custom VPN app, or a manual workaround for you to configure your device and use CyberGhost VPN with it. CyberGhost VPN is compatible with all Windows, macOS, iOS and Android devices. You can also use CyberGhost on multiple devices at once, up to 7 in total (depending on the plan chosen). Games Consoles & Streaming Devices AppleTV Logo AppleTV Amazon Fire TV Logo Amazon Fire TV Chromecast Logo Chromecast Nintendo Logo Nintendo PlayStation Logo PlayStation Roku Logo Roku Xbox Logo Xbox You can also use CyberGhost with a range of gaming consoles and streaming devices, by installing the VPN onto your home router and connecting the devices to it. You can also piggyback off the CyberGhost VPN connection from another device running the CyberGhost app, such as your laptop. The recent addition of a native VPN app for the Amazon Fire TV Stick is also a big plus. Browser Extensions Chrome Logo Chrome Firefox Logo Firefox CyberGhost has VPN browser extensions available for Google Chrome or Mozilla Firefox. These extensions are entirely free but, regardless of whether or not you’re a paying customer, you’ll only get access to eight servers in four locations (2 servers each) through them: United States, Germany, Romania and the Netherlands. These VPN add-ons are only proxies though, so they will only protect your web traffic. We recommend you use CyberGhost’s VPN extensions with the main VPN application or VPN client at all times. Encryption & Security One of the best VPNs for security Protocol IKEv2/IPSec L2TP/IPSec OpenVPN (TCP/UDP) PPTP Encryption AES-256 Security DNS Leak Blocking First-party DNS IPV6 Leak Blocking VPN Kill Switch Advanced features Split Tunneling TOR via VPN Server Please see our VPN Glossary if these terms confuse you and would like to learn more. CyberGhost is an excellent choice for privacy, with one of the most advanced security suites of any VPN available today. The CyberGhost apps default to our favorite protocol, OpenVPN, and it encrypts your web data traffic with the ultra-secure AES-256 encryption and has a kill switch to make sure your identity stays protected in the event of a connection drop. Rest assured that your true location is safe and hidden with CyberGhost: we ran several IP or DNS leak tests and we found no leaks. Logging Policy Based in EU but no logs policy assures privacy This is a list of all the anonymous information that CyberGhost collects (taken from their logging policy): “CyberGhost VPN records the log-in of an anonymous account for statistical purposes. We do this once a day (all other log-ins will be ignored) and sum up each daily log-in for one month. The daily log-in data will be deleted after 24 hours, the monthly sum at the end of each month.” CyberGhost claims that this data is the bare minimum required to keep its VPN service running optimally. CyberGhost’s logging policy makes it clear that no personally identifiable information is collected and therefore there is nothing stored on CyberGhost’s servers that could be used to identify you, should anyone ever seize their servers. Excerpt from CyberGhost Logging Policy Excerpt from CyberGhost Logging Policy Jurisdiction CyberGhost VPN is operated by the Romanian company CyberGhost SA, which was acquired by Kape Technologies PLC (previously known as Crossrider) in 2017. The fact that CyberGhost is headquartered in Romania may seem less than ideal since Romania is part of the EU which has aggressive data-retention and sharing agreements in place with other nations. However we are not concerned by where CyberGhost is located given that it doesn’t collect any personally identifiable connection data. CyberGhost is a VPN you can trust with your online privacy. Ease of Use Extremely easy to use How to Install & Set Up CyberGhost CyberGhost download in our CyberGhost VPN review Find the relevant software on CyberGhost's website and click 'Download'. CyberGhost download in our CyberGhost VPN review #2 OPT Follow the simple installation prompts and agree to the Terms and Conditions. CyberGhost login in our CyberGhost VPN review The app will automatically open once installation is complete. Simply type in your login details. CyberGhost connected screen in our CyberGhost VPN review After connecting the main screen will show the time you've been connected, your chosen server location, and new IP address. CyberGhost main screen in our CyberGhost VPN review The main screen is compact and simple, with a connect button in the middle and your chosen server location below. CyberGhost connected screen in our CyberGhost VPN review After connecting the main screen will show the time you've been connected, your chosen server location, and new IP address. CyberGhost main screen in our CyberGhost VPN review The main screen is compact and simple, with a connect button in the middle and your chosen server location below. CyberGhost connected screen in our CyberGhost VPN review After connecting the main screen will show the time you've been connected, your chosen server location, and new IP address. CyberGhost extended screen and server list in our CyberGhost VPN review Click on the arrows in the bottom left to open up the extended app interface. Here you can see the full server locations list and choose optimized servers. CyberGhost settings in our CyberGhost VPN review Click the cog symbol to open up the setting menu where you can change the VPN protocol and switch on leak protection. CyberGhost connection features in our CyberGhost VPN review Under the Connection Features tab you can activate the ad blocker feature and other privacy extras. CyberGhost split tunneling in our CyberGhost VPN review Click the Smart Rules tab to the left and then Exceptions. Here you can decide which apps you'd like to route outside of the VPN tunnel. CyberGhost is still one of the easiest VPNs to use, even with all of its bells and whistles. Menus in the apps are clearly labeled and come with helpful contextual tooltips. There’s even a set of demonstrative videos on the CyberGhost website that show you just how simple its VPN apps are. Browser Extensions CyberGhost’s browser extensions couldn’t be simpler. You just have to click the icon and select a location. Customer Support Live chat and extensive troubleshooting 24/7 Live chat support Online Resources The round-the-clock live chat support agents are always friendly and responsive, usually managing to solve our queries in a matter of minutes. There’s a good chance you won’t ever need to use live support, though, as the online troubleshooting guides are pretty comprehensive. Pricing & Deals A great value VPN made very cheap with long-term plan CyberGhost Coupon CyberGhost logo CyberGhost Get 79% off CyberGhost's 3-year plan TestedEnds 31 Aug Get CodeED Terms CyberGhost Pricing Plan CyberGhost used to provide a free VPN service, however that is no longer the case. At its very cheapest, CyberGhost costs $2.75 per month – a 79% saving – but this requires a 3-year commitment. We think it’s worth the money, but if you don’t want to commit for 3 years then a monthly subscription plan jumps to $12.99 per month while a 6-month plan will cost $7.99 per month (a 39% saving). CyberGhost has a 45-day money-back guarantee in place, which is one of the longest we’ve come across, but it only applies to subscriptions of six months or longer – one-month subscriptions have a 14-day refund guarantee. There are no hidden catches or restrictions. If you want your money back then CyberGhost will refund you in 5-10 working days. To get a refund, simply contact CyberGhost support (live chat or email) and request a refund before the 45-days are up. You may be asked to fill in a short survey. CyberGhost also offers a one-day free trial (or seven days for mobile devices). The free trial grants you the full VPN experience with no personal or payment details asked for. A handy pop-up will remind you of your remaining runtime every time you use the VPN service. Monthly US$12.99/mo Billed $12.99 each month 6 Months US$7.99/mo Billed $47.94 every 6 months Save 39% 3 Years US$2.75/mo Billed $99.00 every 3 years Save 79% All plans have 45-day money-back guarantee Payment & Refund Options Credit Card PayPal Bitcoin CyberGhost accepts a range of payment options including most major credit cards, PayPal and Bitcoin. Unfortunately, it doesn’t currently accept any other international options like Alipay or UnionPay.
Private Internet Access Review - An in-depth review
Private Internet Access talks a big game on its website. In among all the technical jargon it boasts that it’s “the most trusted name in anonymous VPN service.” Its name certainly promises as much, but can you trust Private Internet Access to give you the VPN speeds and security you need? We’ve spent days testing Private Internet Access to answer all your questions, such as: Is Private Internet Access trustworthy? What does Private Internet Access do? Does Private Internet Access work with Hulu? Does Private Internet Access keep logs? Who owns Private Internet Access? Before we get stuck in, let’s take a look at the basics of Private Internet Access, along with what we found to be its main pros and cons: Pros Excellent speeds - 87Mbps global average Easy, high-speed access to Netflix Unlimited P2P & torrenting Keeps no usage logs & no IP/DNS leaks 3,300+ servers across 32 countries User-friendly apps for PC, Mac, iOS, & Android Cons Small server network compared to top-tier providers Based in the privacy-unfriendly US Email support can be slow, limited live chat Patchy access in China Works with Netflix, Amazon Prime, Hulu, Now TV, HBO, Sling TV, Torrenting, Kodi Available on Windows Mac Ios Android Linux Price from $2.91/mo Private Internet Access is an incredibly fast VPN, with some excellent features that make it ideal for privacy advocates. It’s not perfect, though – read on to find out more. Speed & Reliability Very fast and impressive speeds Private Internet Access is a very fast VPN. PIA’s best VPN servers are impressive for speed: if you live near London, New York or Toronto and want to connect locally you won’t find a faster provider in the current market. We were also highly impressed with PIA’s global performance, with very fast average download speed of 87Mbps. This is one the highest we’ve seen from any provider, making it a fantastic choice for P2P users and torrenters. Speed results from our physical location in London (100Mbps fibre optic connection) to a London test server. Before using Private Internet Access: DOWNLOAD Mbps 92 UPLOAD Mbps 99 PING ms 2 When connected to Private Internet Access: DOWNLOAD Mbps 47 UPLOAD Mbps 74 PING ms 12 Download speed without Private Internet Acess: 92Mbps Download speed with Private Internet Access: 47Mbps Our download speed loss when Private Internet Access is running: 50% Gamers will love PIA’s practically non-existent latency of less than 1ms in some locations. It also has exceptional upload speeds – you can expect 268Mbps at the best of times. We put all of the VPNs on the site through a rigorous scientific speed testing process, determining the average speeds from multiple locations across the globe. These are the average speeds you can expect to pick up from these locations: USA: 31Mbps (download) & 38Mbps (upload) Germany: 85Mbps (download) & 72Mbps (upload) Singapore: 26Mbps (download) & 9Mbps (upload) Australia: 35Mbps (download) & 10Mbps (upload) Server Locations Important locations are covered, the server list is small Globe with a blue flag 32 Countries Image of a city landscape 52 Cities Image of a pink marker 3,300+ IP Addresses See all Server Locations Private Internet Access’ servers are spread over 33 countries – a smaller selection than many of its big-name rivals, although every PIA location is courtesy of a real physical server. While 3,300-plus VPN servers is a fantastic amount, it’s likely that there’s only one IP address for each. That’s a good number, but VPN services like IPVanish (40,000) and VyprVPN (200,000) have far more. PIA VPN covers all the most popular locations in a good global spread, while 14 separate cities (and 1,500 servers) within the US is outstanding. There’s also city-level selection in the UK, Canada, Australia, and Germany. Private Internet Access Server Locations on the Private Internet Access Website Streaming & Torrenting Good for Netflix, great for torrenting Private Internet Access’ huge array of US servers means that unblocking Netflix is never more than one or two clicks away. We found access through its Washington DC, Atlanta, Chicago and Houston servers to be very reliable, and less so with US East, New York City, Florida and California servers. Access to BBC iPlayer had recently stopped working for us, and Private Internet Access has said that rectifying it is not a priority for the service. Our most recent tests, however, had success accessing the service. Private Internet Access is also a popular choice with viewers of a whole range of other big streaming services. Plenty of subscribers enjoy using Private Internet Access with: Amazon Prime Video Hulu HBO Sling TV Sky Now TV PlayStation Vue Torrenting Private Internet Access is a very, very good VPN for torrenting. P2P traffic is permitted on all servers and the market-leading upload and download speeds ensure rapid file transfers and buffer-free Kodi. It has a VPN kill switch to keep your identity safe while you download or seed, it’s totally protected from IP and DNS leaks, and its logging policy ensures your traffic will be kept private and anonymous. Bypassing Censorship No good in China but works well in other countries Private Internet Access is unusable in large parts of China as the government has successfully managed to block it via the Great Firewall. Reports and anecdotes from users suggest that it still works in Beijing at least, for example. Unless you want to spend a lot of time tampering with long-winded manual configurations, you’ll be better off finding another VPN service, though – our roundup of the best VPNs for China should help. PIA will still work to unlock the internet in slightly less dilligent nations though, such as Turkey, Iran or Saudi Arabia. Platforms & Devices Works across all platforms, and router too Apps Windows Logo Windows Mac Logo Mac iOS Logo iOS Android Logo Android Linux Logo Linux Router Logo Router There are custom apps to get Private Internet Access running on all the popular operating systems, both desktop and mobile, while a router-level installation will cover everything else. Private Internet Access works with Microsoft Windows, Apple MacOS, Android, iPhone and more. You can use Private Internet Access on a number of devices, up to ten in total. Manual setup guides are also available on the Private Internet Access website to help walk you through more obscure platforms or older OS versions. Games Consoles & Streaming Devices AppleTV Logo AppleTV Amazon Fire TV Logo Amazon Fire TV Chromecast Logo Chromecast Nintendo Logo Nintendo PlayStation Logo PlayStation Roku Logo Roku Xbox Logo Xbox Private Internet Access offers a custom app for Amazon Fire TV and Stick. Installing the app requires a little bit of technical knowhow, but once installed you’ll be able to choose servers all around the world and access your favorite video content. It’s also possible to use PIA’s software with other streaming devices and games consoles, like the PlayStation 4, Xbox One or Google Chromecast, by connecting them to a configured router. Browser Extensions Chrome Logo Chrome Firefox Logo Firefox Private Internet Access also has browser extensions for Google Chrome, Mozilla Firefox, and Opera, which protect your browser traffic. They’re just proxies, but still protect your IP address and prevent WebRTC leaks when surfing the web. You can learn more about the differences between VPNs and proxies with our guide. Encryption & Security One of the most secure VPNs around Protocol L2TP/IPSec OpenVPN (TCP/UDP) PPTP Encryption AES-128 AES-256 Security DNS Leak Blocking First-party DNS IPV6 Leak Blocking Supports TCP Port 443 VPN Kill Switch WebRTC Leak Blocking Advanced features Ad Blocker SOCKS Please see our VPN Glossary if these terms confuse you and would like to learn more. After all this, you’re still probably wondering one question: is Private Internet Access trustworthy? We can safely say that the answer is yes. Private Internet Access is one of the most advanced VPNs on the market, sure to satisfy even the most demanding of users. A screenshot of PIA's recommended security configurations PIA’s recommended security configurations You get a broad choice of protocols with Private Internet Access (including our favorite, OpenVPN), encryption (including AES-256), an ad and malware blocker (PIA MACE), TCP Port 443, as well as a kill switch. It also features IPV6 leak protection, although it’s unlikely you’ll need that right now – still, it’s good future-proofing for when IPV6 eventually becomes the new internet standard (you can learn more about IPV6 here). One small thing we’d change is that PIA VPN offers PPTP as a protocol, but not IKEv2. We prefer OpenVPN to IKEv2, but some users like that it often gives you faster VPN connection speeds. PPTP, on the other hand, is old and insecure and shouldn’t really be used by anyone. On top of all that, we also found it didn’t leak our IP or DNS – Private Internet Access operates its own DNS servers, which helps. Logging Policy Absolutely no logging information kept Private Internet Access keeps absolutely no VPN logs whatsoever – you can use the service with total peace of mind that your data and traffic is not being monitored, nor can it be traced back to you. Jurisdiction Private Internet Access first launched in 2010 and is owned by London Trust Media, a firm with a diverse portfolio of products and a particular focus on privacy and tech. It’s based in Colorado, Denver, USA. We would normally criticize a VPN for choosing the US as its base of operations, however, in the case of Private Internet Access we’ll make an exception. The fact that absolutely no browsing logs are stored or monitored by PIA means that any prying authorities would have nothing to uncover. Ease of Use Updated app does wonders for usability How to Install & Set Up Private Internet Access Private Internet Access download options screenshot in our PIA review Go to the downloads section on PIA's website to find the right software for your device. Private Internet Access installation instructions screenshot in our PIA review We love PIA's step-by-step instructions on how to navigate the installation process. Private Internet Access setup options screenshot in our PIA review PIA gives you the option to create a handy desktop shortcut for the app. Private Internet Access setup wizard screenshot in our PIA review Once the installation is complete, you'll be given the option to launch PIA and begin using the software. PIA Main Screen Screenshot for PIA Review PIA have drastically improved its app so that it is much simpler to navigate and pleasing to look at. PIA Server List Screenshot for PIA Review When clicking on 'VPN Server' on the main screen you are taken to this list of available server connections. Its a detailed list with a search bar to find your favorite server quicker than having to scroll. PIA Connected Screenshot for PIA Review When you choose a server, the app automatically takes you back to the home screen where the button animates itself in an attempt to connect. Once connected, it turns green. PIA Main Screen Expanded Screenshot for PIA ReviewPIA Setting Menu Screenshot for PIA Review The advanced settings open in a new and separate tab to the app. In the Privacy Settings you can find the inclusion of a kill switch with the helpful option to have it on 'Always'. You can also block domains used for ads, trackers, and malware through the PIA MACE option. PIA DNS Leak Protection Screenshot for PIA Review In the 'Network' screen you can protect yourself against DNS leaks, with the options to 'Set Custom DNS' alongside tick boxes for 'Request Port Forwarding' or 'Allow LAN Traffic'. PIA Protocol and Encryption Screenshot for PIA Review In the past, PIA’s one glaring failure was its clunky, unintuitive and grossly outdated desktop app. PIA has since released a far more modern app which is much easier to navigate and straight-up better looking, clearly taking note from its competitors. There are plenty of customization options for desktop notifications, launch on start-up, and a kill switch with an ‘always’ option. PIA has come a long way, but it’s not perfect: the advanced settings still open in a new tab and the tray app remains open on top, blocking the view. Annoyingly, you have to close the whole tray app manually in order to see it. The PIA mobile app is terrific – with just as much configurability as the desktop app, plus some extra connection details. Customer Support Lacking 24/7 support but good online knowledge base Live chat Support Email Online Resources 24/7 live chat is the obvious absence from Private Internet Access’ support repertoire. It’s something almost all of its higher-scoring rivals have, such as StrongVPN and VPNArea, and a feature we’d love to see soon. With PIA VPN you can only live chat with support between 4pm-1am UTC. You must be logged in to the member area to do so, meaning it’s also only available to paying customers. The positive flip-side to this, though, is that PIA has one of the best online knowledge bases out there. It’s well organized and should answer almost any query or issue you have. Pricing & Deals Affordable on two-year plan Private Internet Access Coupon Private Internet Access logo Private Internet Access Get 65% off Private Internet Access's 2-year plan TestedEnds 28 Aug Get CodeED Terms Private Internet Access Pricing Plan A month-long subscription with Private Internet Access costs $9.95. This is around the industry standard and isn’t very competitive. The cost goes down the longer you subscribe for, though, with a two-year subscription costing $3.49 per month. Private Internet Access isn’t the cheapest VPN, but it is one of the best. Private Internet Access doesn’t have a free trial and the money-back guarantee is only seven days long. However, cancelling within these seven-days is 100% no-questions-asked, with your refund arriving within seven working days. Monthly US$9.95/mo Billed $9.95 every month 12 Months US$5.99/mo Billed $71.88 every 12 months Save 40% 2 Years US$3.49/mo Billed $83.87 every 2 years Save 65% All plans have 7-day money-back guarantee Payment & Refund Options Credit Card PayPal Bitcoin PIA accepts a broad range of payment methods including most major credit and debit cards, PayPal and a few cryptocurrencies including Bitcoin, Ethereum, and Zcash. Users in certain countries may also have access to additional international payment options like Mint, ecoPayz, and Neosurf, although they can’t be used to set up a rolling subscription.
USD (DXY) down 0.14%, EUR up 0.10%, GBP down 0.05%, JPY up 0.06%, CNY Onshore down 0.23%, CNH Offshore down 0.14%, AUD up 0.23%
VIX up 1.33% to 10.64
Gold up 0.02% to $1,323.57
Silver down 0.37% to $17.80
Copper down 1.24% to $294.40
WTI Crude up 0.65% to $49.62
Brent Crude up 0.34% to $55.35
Natural Gas down 0.10% to $3.06
Corn up 0.43% to $3.53/bu
Wheat up 0.51% to $4.46/bu
Bitcoin down 2.69% to $3,793.12
Treasuries 2yr yields are up ~0.0bps at 1.347%, 10yr yields are unch at 2.188% and 30yr yields are up ~0.5bps at 2.792%
Japan 10yr yields 0.020%, up ~1.6bps on the day
France 10yr yields 0.683%, up ~0.2bps on the day
Italy 10yr yields 2.044%, up ~1.4bps on the day
Spain 10yr yields 1.584%, up ~2.4bps on the day
Germany 10yr yields 0.394%, down ~0.4bps on the day
What’s happening this morning? Things are pretty quiet (once again). The China Aug eco data came in soft and that weighed on Asian equities and is placing mild pressure on Eurozone stocks and US S&P futures (S&P futures are down only 1-2 points). Most of the major Asian indices ended lower although there were some pockets of green: TPX -0.32%, NKY -0.29%, Hang Seng -0.42%, SHCOMP -0.38%, Taiwan +0.2%, KOSPI +0.74%, Australia - 0.1%, and India was flattish. Korea was bolstered by tech (Samsung Electronics +1.37%, Hynix +1.45%, LG Display +2.74%, etc.). The major Eurozone indices are trading off small; the SXPP basic resources index is down >1% off China but otherwise there aren’t any other major sources of softness while media and retail are upside standouts (retail is being helped by the Next PLC news). The SNB tweaked its FX language in a slightly more hawkish direction, calling the CHF “highly valued” instead of “significantly overvalued”. Overall the broader macro narrative isn’t shifting dramatically despite China (in fact some see a silver lining in the data as this could make the gov’t more inclined to pursue growth-friendly policies). There were a ton of tax articles in the US but the outlook for that topic remains unchanged (the GOP blueprint is due out during the week of 9/25). The week’s last major (scheduled) catalyst hits at 8:30amET this morning (US Aug CPI) while next week’s main focus is the FOMC decision (Wed 9/20; the messaging around a Dec hike may be more hawkish than the market currently assumes).
Calendar for Thurs 9/14 – the focus will be on the BOE rate decision (7amET), the US CPI for Aug (8:30amET), Thy God Emperor Trump ’s trip to Florida, some analyst meetings (ANSS and GKOS), earnings (JBL and ORCL after the close), and sell-side conferences (Goldman Communacopia, Morgan Stanley Laguna, and RBC Industrials). o US CPI Thurs morning – the latest leg of the SPX rally has been spurred by proreflation forces as risk sentiment welcomed firmer inflation numbers (in China, India, Sweden, and the UK). Thus the US CPI (due out Thurs morning 8/14 at 8:30amET) needs to be at least inline (the St is modeling headline +0.3% M/M and core +0.2% M/M) and mild upside would likely be a net positive. Too much inflation though risks unsettling sentiment and if the Thurs CPI causes 12/13 FOMC FF hike odds to spike back >50% that would likely be met w/equity pressure.
Calendar for Fri 9/15 – the focus will be on the Eurozone trade balance for Jul (5amET), the US Empire Manufacturing index for Sept (8:30amET), US retail sales for Aug (8:30amET), US industrial production for Aug (9:15amET), US Michigan confidence numbers for Sept (10amET), US business inventories for Jul (10amET), and sell-side conferences (Morgan Stanley Laguna).
Top Headlines for Thursday
Economic data/monetary policy recap for Thurs 9/14 – there was a lot of data out this morning. The China data was soft and as a result JPMorgan is revising lower Q3 GDP forecasts for the country (see the full note: http://bit.ly/2x226Wk). IP for Aug came in at +6% (vs. JPM and the St +6.6%), retail sales rose 10.1% (vs. JPM +10.2% and the St +10.5%), and FAI climbed 7.8% YTD as of Aug (vs. JPM +8.3% and the St +8.2%). We revise down our current quarter growth forecast to 6.2%q/q saar (previously 6.6%q/q saar), or 6.7%oya (previously 6.8%oya). Meanwhile, we maintain our 4Q17 forecast at 6.2%q/q saar (or 6.6% in yoy terms), and the full-year growth forecast stays unchanged at 6.8%. Elsewhere on the economic front, Australian jobs data for Aug was solid although the UR held steady at 5.6% (http://bit.ly/2jpRH3x) and Eurozone new auto registration growth accelerated in Aug to +5.6% (vs. +2.7% in Jul). The SNB tweaked its CHF language and said the recent weakening "is helping to reduce, to some extent, the significant overvaluation of the currency" (previously the SNB has lamented the CHF’s “significant overvaluation” http://bit.ly/2eXuwIC). ECB’s Jan Smets said Eurozone inflation appears to have bottomed out (http://nyti.ms/2f8nynT). Greece said it would exceed prior primary budget surplus targets for this year (http://reut.rs/2x2RxUq). o What Thy God Emperor Trump Can Do to Prevent the Next Crash – the Fed doesn’t do enough to restrain out-of-control prices for stocks, houses, and other assets. http://nyti.ms/2eX7IsC o Fed officials admit they’ve lost some inflation credibility – a Bloomberg article recounts recent Fed remarks about how the institution’s credibility on inflation has started to weaken at the margin. Bloomberg. https://bloom.bg/2y0yyru
Bipartisanship in Washington – can it last? Frustrated by the failure to pass repeal/replace, Thy God Emperor Trump has displayed a willingness to work w/Democrats. o Thy God Emperor Trump is extremely eager for a “win” after months of failure and if that requires him to work w/Democrats, so be it. “We learned this summer that keeping 50 or 52 Republicans (in the Senate) is not something that’s reliable,” Marc Short, Thy God Emperor Trump ’s liaison to Congress, told reporters this week. Reuters http://reut.rs/2x3yn0L o Thy God Emperor Trump prioritizes legislative wins over party purity – the new dynamic is creating uncertainty within the GOP ahead of the upcoming tax and budget battles. WSJ. http://on.wsj.com/2eWBspz o Fresh off striking a three-month fiscal deal with “Chuck and Nancy”, Thy God Emperor Trump agreed Wed night to work w/Democrats on a DACA/Dreamers compromise. Thy God Emperor Trump ’s outreach to Dems on immigration represents a “major political gamble” as this topic was the centerpiece of his campaign. Rep. Steve King (R-Iowa), an immigration hard-liner and early Thy God Emperor Trump supporter, wrote that if reports of a potential immigration deal are accurate, the president’s “base is blown up, destroyed, irreparable, and disillusioned beyond repair. No promise is credible” – Washington Post http://wapo.st/2y81heI
Taxes – Republicans are pushing forward w/an aggressive tax timeline (a blueprint is due out during the week of 9/25) but the overall plan remains inchoate. o “Thy God Emperor Trump urges quick action on tax plan that’s still in pieces” – the NYT notes that while there is a lot of eagerness for action on the tax front, Republicans are far from aligned on the details and a path through Congress isn’t apparent at the moment. NYT http://nyti.ms/2jpuApI o GOP “shudders” as Thy God Emperor Trump courts Dems on taxes – Republican leaders in Congress are pursuing a delicate tax strategy premised on passing a partisan bill and thus Thy God Emperor Trump ’s flirtation with “Chuck and Nancy” risks upending the effort. Politico http://politi.co/2h4gUfr o Thy God Emperor Trump signals openness to upper-income tax hikes in a bid to secure Democratic support - Thy God Emperor Trump on Wednesday expressed a willingness to raise taxes on the wealthiest Americans. Thy God Emperor Trump met w/lawmakers on Wed and “repeated his willingness to raise taxes on the wealthiest Americans several times”– Roll Call http://bit.ly/2y724fS o How low could the corporate tax rate go? A new study finds that eliminating all corporate tax breaks could only move the rate from ~35% now down to 26% - Washington Post. http://wapo.st/2vU7zNy
Paul Ryan speculation heats up – his job as Speaker seems secure but people are beginning to talk – The Hill. http://bit.ly/2x3NlUm
Healthcare struggles to advance in Congress – a bipartisan initiative to pass legislative aimed at fixing the ACA (rather than replacing it) was dealt a setback on Wed as two groups of Senators released the details of diametrically opposed plans. WSJ. http://on.wsj.com/2waLtdO
Russia’s war games sparks NATO alarm – Russia and Belarus are holding massive war games in what will be the largest display of Russian military power since the end of the Cold War. NATO and the West in general are worried that Russia is moving far more troops into Belarus than it intends to withdraw, establishing a permanent military presence in the country. Some are concerned that Moscow will use the exercise as cover for a more aggressive act (such as when Russia used exercises in ’14 to prepare for its annexation of Crimea). NYT http://nyti.ms/2vUXBLV
Venezuela stops accepting USD for oil payments – the gov’t is telling oil traders that it will no longer receive or send payments in dollars – WSJ http://on.wsj.com/2f7zsP9
Volatility spike coming? The NYT profiles a hedge fund positioning for a large spike in volatility. http://nyti.ms/2eWeJd5
Company-specific news from Thurs morning 9/14. There are a few notable items in Europe. Next PLC shares are the top performing stock in the SXXP after raising its full-year earnings guidance. GVC Holdings also has a post-earnings bid. GKN PLC is higher following mgmt. changes. Autoliv shares are spiking ~8% after the co said it would pursue a split. On the downside, Morrison Supermarkets is leading on the SXXP on the downside after reporting while Experian is getting hit following the credit agency sell-off in the US on Wed. Hermes shares are weak after the co warned that a strong euro would weigh on financial results (the Hermes news was discussed in this article http://bit.ly/2y7L0q7). Munich Re is holding in well despite issuing a profit warning related to the US hurricanes.
Company-specific news from Wed night 9/13. There weren’t any major micro headlines. Munich Re (right before the US close on Wed) said the US hurricanes could cause it to post a loss in CQ3 and miss prior full-year guidance. BZH said new home sales/closings may be down Y/Y in its FQ4 as a result of the hurricanes but its overall tone stayed sanguine. EMR reported Aug underlying orders up a relatively healthy 9% (although mgmt. said Harvey/Irma had a neg. impact on business results towards the end of Aug and into Sept). The White House formally blocked the LSCC buyout (which isn’t a shock as CFIUS had already recommended scrapping the transaction). THC is exploring options, including a sale, according to a WSJ article. UNFI posted small EPS upside and CDNS named a new CFO.
AAPL – iPhone carrier discounts muted following the 8/X introductions on Tues – wireless carriers during prior iPhone cycles have been extremely aggressive in offering promotions and discounts but this time around the industry is staying (relatively) disciplined. Deals for the iPhone 8, 8 Plus and X have been pared back from the deals offered for the iPhone 7 – Reuters http://reut.rs/2wrCpMR o Toshiba, AAPL – Apple may contribute ~$3B of equity towards Bain’s purchase of the Toshiba memory business. This could make Toshiba the largest deal in AAPL’s history (exceeding the $3B it paid for Beats) – Bloomberg https://bloom.bg/2y0FGUC
EQT, RICE – DE Shaw is pushing for EQT to complete the RICE deal but then wants to see the combined company pursue a break-up (this contrasts w/Jana which wants to see EQT call off the RICE deal all together) – WSJ. http://on.wsj.com/2vVe56N
ALV to pursue split – the co said it aims to split into two companies under a strategic review announced on Thursday. Reuters http://nyti.ms/2y7O8Cj
Calendar of events to watch for the week of Mon Sept 18
Calendar for the week of 9/18 – the main focus will be the FOMC decision (Wed 9/20). Balance sheet normalization is widely expected to commence coming out of this meeting but the bigger near-term wildcard will be messaging around a Dec hike (the Fed will likely suggest odds for a 12/13 hike that are higher than present market assumptions). The other big area of focus will be on the data front w/the flash PMI readings for Sept from Japan, Europe, and the US hitting Fri morning 9/22. The press will stay filled w/tax-related articles as Republicans gear up for publication of their blueprint (the GOP is set to unveil their tax plan during the week of Mon 9/25). The UN annual meeting kicks off in NYC on Tues 9/19 (Thy God Emperor Trump speaks 9/19); US officials will apparently hold talks on the sidelines of this event on the Iranian nuclear deal.
Calendar for Mon 9/18 – the focus will be on China’s Aug property prices (Mon morning), the US NAHB housing market index for Sept (10amET), analyst meetings (BA), and earnings (SCS after the close).
Calendar for Tues 9/19 – the focus will be on the German ZEW survey for Sept (5amET), opening day of the UN’s Generate Debate in NYC (Thy God Emperor Trump will speak this day at the UN), US eco data (Q2 current account, Aug housing starts, Aug import prices, and Aug building permits at 8:30amET), analyst meetings (AIR Canada, BA, BBY, BIG, and CARB), and earnings (APOG, AZO, and PGR pre-open and ADBE, AIR, ALOG, BBBY, and FDX after the close).
Calendar for Wed 9/20 – the focus will be on US existing home sales for Aug (10amET), the FOMC decision (2pmET press release/supplemental and 2:30pmET press conf.), analyst meetings (PPC), and earnings (GIS pre-open and MLHR after the close).
Calendar for Thurs 9/21 – the focus will be on the BOJ decision (Wed night/Thurs morning), the ECB economic bulletin (4amET), US FHFA home prices for Jul (9amET), the US Leading Index for Jul (9amET), the Eurozone consumer confidence numbers for Sept (10amET), and earnings (MANU pre-open and PSDO, YOGA after the close).
Calendar for Fri 9/22 – the focus will be on the Eurozone flash PMIs for Sept (4amET), the OPEC compliance meeting (Saudi Arabia could make a proposal to monitor exports in addition to production), the US flash PMIs for Sept (9:45amET), a few Fed speakers (Williams, George, and Kaplan), and earnings (FINL and KMX before the open).
Calendar for Sun 9/24 – the focus will be on the German elections.
Catalysts – big events to watch over the coming months
US inflation – the Aug CPI will hit Thurs 9/14.
Russia military exercise in Belarus – 9/14-20.
UN meeting – the UN annual meeting begins Tues 9/19 in NYC (Thy God Emperor Trump speaks 9/19).
Fed meeting – decision out Wed Sept 20. There will be a press conf. and supplemental. The Fed is expected to announce commencement of balance sheet shrinkage at this meeting.
BOJ decision – Thurs morning 9/21
Brexit – May could deliver an important Brexit speech around Thurs 9/21.
Flash PMIs for Sept – Fri 9/22
OPEC/non-OPEC compliance meeting – Sept 22.
German elections – German federal election Sept 24.
US taxes – Republicans expected to publish tax plan during week of Mon 9/25.
Yellen delivers keynote at NABE conference in Cleveland. Tues 9/26. 12pmET.
US inflation – the Aug PCE will hit Fri 9/29.
Catalonia parliament independence vote – Sun 10/1.
China mainland markets closed Mon 10/2-Fri 10/6 for the National Day holiday.
Autos – US Sept auto sales get reported Tues 10/3; Ford/F’s CEO will also be giving a strategic update on that same day (this will be the first major update from the new CEO at Ford).
Yellen delivers opening remarks at Community Banking conf. Wed 10/4. 3:15pmET.
ECB meeting minutes – Thurs 10/5.
WMT analyst meeting – Tues 10/10 (note that KR has an analyst meeting the next day, Wed 10/11).
Fed minutes – minutes from the 9/20 meeting will be released Wed 10/11. 2pmET.
Bank earnings – the CQ3 earnings season kicks off w/Citigroup and JPM Thurs morning 10/12 while BAC, PNC, and WFC all report Fri 10/13.
US inflation – the Sept CPI will hit Fri 10/13.
HON – the co will announce its portfolio review decision before earnings in Oct.
CQ3 earnings – the week of Mon 10/16 is the first busy week of the CQ3 reporting season.
Iran – Thy God Emperor Trump will certify whether Iran is complying w/the nuclear agreement around mid- Oct.
China - the National Congress of the Communist Party of China starts Oct 18.
China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning) – Thurs morning 10/19.
Flash PMIs for Oct – Tues 10/24
ECB meeting/press conf. Thurs Oct 26. The ECB is expected to provide guidance on LSAP tapering at this meeting.
US Q3 GDP report – Fri 10/27
Fed meeting – decision Wed 11/1 (no press conf. or supplemental).
Thy God Emperor Trump trip to China – he is scheduled to visit China in November.
GE – the co will likely hold an analyst meeting in Nov at which it will provide a refresh of its long-term financial guidance.
OPEC meeting – the next formal OPEC leaders meeting is Nov 30 (a decision on extending the production agreement beyond Mar ’18 could be reached at this gathering).
US gov’t funding/debt ceiling – current legislation funds the gov’t and suspends the debt ceiling until 12/8 (the debt ceiling is unlikely to become binding again until “well into” 2018).
Fed meeting – decision Wed Dec 13. There will be a press conf. and supplemental.
ECB meeting/press conf. Thurs Dec 14.
Tech Events – calendar of events coming up over the next few weeks
Goldman Communacopia Conf. Sept 12-14. NYC.
ANSS analyst meeting – Thurs 9/14.
JBL, ORCL earnings – Thurs night 9/14.
ADBE earnings – Tues night 9/19.
BBY, CARB analyst meeting – Tues 9/19
PSDO earnings – Thurs night 9/21
RHT earnings – Mon night 9/25
MU earnings – Tues night 9/26
UBNT analyst meeting – Tues 9/26
AMAT, PANW analyst meeting – Wed 9/27
ACN earnings – Thurs morning 9/28
SGH earnings – Thurs night 9/28
INTU analyst meeting – Tues 10/3
PAYX earnings – Tues morning 10/3
TTD analyst meeting – Wed 10/4
TECD, WDAY analyst meeting – Tues 10/10
BOX, HPQ analyst meeting – Thurs 10/12
Full catalyst list
Thurs Sept 14 – China retail sales, IP, and FAI for Aug (Wed night/Thurs morning)
Thurs Sept 14 – Eurozone auto registration figures for Aug. 2amET.
Thurs Sept 14 – SNB rate decision. 3:30amET.
Thurs Sept 14 – BOE rate decision. 7amET.
Thurs Sept 14 – US CPI for Aug. 8:30amET.
Thurs Sept 14 – analyst meetings: ANSS, GKOS, YUM
Thurs Sept 14 – earnings after the close: JBL, ORCL
Thurs Sept 28 – Eurozone confidence measures for Sept. 5amET.
Thurs Sept 28 – German inflation for Sept. 8amET.
Thurs Sept 28 – US Q2 data revisions (GDP, PCE, etc.). 8:30amET.
Thurs Sept 28 – US advance goods trade balance for Aug. 8:30amET.
Thurs Sept 28 – analyst meetings: AEE, AFL
Thurs Sept 28 – earnings before the open: ACN, MKC, MTN, RAD
Thurs Sept 28 – earnings after the close: SGH
Fri Sept 29 – China Caixin manufacturing PMI for Sept (Thurs night/Fri morning)
Fri Sept 29 – German jobs numbers for Sept. 3:55amET.
Fri Sept 29 – Eurozone CPI for Sept. 5amET.
Fri Sept 29 – US personal income/spending for Aug. 8:30amET.
Fri Sept 29 – US PCE for Aug. 8:30amET.
Fri Sept 29 – Chicago PMI for Sept. 9:45amET.
Fri Sept 29 – Michigan Confidence for Sept. 10amET.
Fri Sept 29 – analyst meetings: CMP
Sat Sept 30 – China NBS manufacturing and non-manufacturing PMI for Sept (Fri night/Sat morning)
Mon Oct 2 – China mainland markets closed Mon 10/2-Fri 10/6 for the National Day holiday.
Mon Oct 2 – Eurozone manufacturing PMI for Sept. 4amET.
Mon Oct 2 – Eurozone unemployment rate for Aug. 5amET.
Mon Oct 2 – US manufacturing PMI for Sept. 9:45amET.
Mon Oct 2 – US manufacturing ISM for Sept. 10amET.
Mon Oct 2 – US construction spending for Aug. 10amET.
Tues Oct 3 – Eurozone PPI for Aug. 5amET.
Tues Oct 3 – US auto sales for Sept.
Tues Oct 3 – analyst meetings: F/Ford (Ford CEO to host strategic update), INTU, SHW
Tues Oct 3 – earnings before the open: PAYX
Wed Oct 4 – Eurozone services PMI for Sept. 4amET.
Wed Oct 4 – Eurozone retail sales for Aug. 5amET.
Wed Oct 4 – RBI rate decision. 5amET.
Wed Oct 4 – US ADP jobs report for Sept. 8:15amET.
Wed Oct 4 – US services PMI for Sept. 9:45amET.
Wed Oct 4 – US non-manufacturing ISM for Sept. 10amET.
Wed Oct 4 – Yellen delivers opening remarks at Community Banking conf. 3:15pmET.
Wed Oct 4 – analyst meetings: MNK, TTD
Wed Oct 4 – earnings before the open: MON, PEP
Wed Oct 4 – earnings after the close: RECN
Thurs Oct 5 – ECB meeting minutes. 7:30amET.
Thurs Oct 5 – US factory orders and durable goods for Aug. 10amET.
Thurs Oct 5 – analyst meetings: BKH, CLX, LUK
Thurs Oct 5 – earnings before the open: STZ
Thurs Oct 5 – earnings after the close: COST, YUMC
Fri Oct 6 – German factory orders for Aug. 2amET.
Fri Oct 6 – US jobs report for Sept. 8:30amET.
Fri Oct 6 – US wholesale inventories/trade sales for Aug. 10amET.
Fri Oct 6 – US consumer credit for Aug. 3pmET.
Sat Oct 7 – China FX reserves for Sept (Fri night/Sat morning)
Mon Oct 9 – China Caixin services PMI for Sept (Sun night/Mon morning)
Mon Oct 9 – German industrial production for Aug. 2amET.
Mon Oct 9 – Columbus Day holiday in the US (equities will be open while fixed income is closed).
Tues Oct 10 – German trade balance for Aug. 2amET.
Tues Oct 10 – analyst meetings: TECD, WDAY, WMT
Tues Oct 10 – PG shareholder meeting
Wed Oct 11 – US JOLTs report for Aug. 10amET.
Wed Oct 11 – Fed minutes from the Sept 20 meeting (2pmET).
Wed Oct 11 – analyst meetings: KR
Wed Oct 11 – earnings before the open: FAST
Thurs Oct 12 – Eurozone industrial production for Aug. 5amET.
Thurs Oct 12 – US PPI for Sept. 8:30amET.
Thurs Oct 12 – analyst meetings: BOX, HPQ
Thurs Oct 12 – earnings before the open: C, JPM, Tata Consultancy.
Fri Oct 13 – China imports/exports for Sept (Thurs night/Fri morning)
Fri Oct 13 – US CPI for Sept. 8:30amET.
Fri Oct 13 – US retail sales for Sept. 8:30amET.
Fri Oct 13 – US Michigan Sentiment for Oct. 10amET.
Fri Oct 13 – US business inventories for Aug. 10amET.
Fri Oct 13 – analyst meetings: SAFM
Fri Oct 13 – European trading updates: Man Group
Fri Oct 13 – earnings before the open: BAC, PNC, WFC
Mon Oct 16 – China CPI/PPI for Sept (Sun night/Mon morning)
Mon Oct 16 – Eurozone trade balance for Aug. 5amET.
Tues Oct 17 – Eurozone Sept auto registrations. 2amET.
Tues Oct 17 – German ZEW survey results for Oct. 5amET.
Tues Oct 17 – US import prices for Sept. 8:30amET.
Tues Oct 17 – US industrial production for Sept. 9:15amET.
Tues Oct 17 – US NAHB housing index for Oct. 10amET.
Wed Oct 18 – US housing starts for Sept. 8:30amET.
Wed Oct 18 – US building permits fro Sept. 8:30amET.
Wed Oct 18 – US Beige Book. 2pmET.
Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
Thurs Oct 19 – US Leading Index for Sept. 10amET.
Fri Oct 20 – US existing home sales for Sept. 10amET.
Mon Oct 23 – US Chicago Fed Activity Index for Sept. 8:30amET.
Tues Oct 24 – Eurozone flash PMIs for Oct. 4amET.
Tues Oct 24 – US flash PMIs for Oct. 9:45amET.
Wed Oct 25 – US durable goods for Sept. 8:30amET.
Wed Oct 25 – US FHFA home price index for Aug. 9amET.
Wed Oct 25 – US new home sales for Sept. 10amET.
Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
Thurs Oct 26 – US pending home sales for Sept. 10amET.
Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
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Exclusive: Coinbase Buys Xapo Custody for $55 Million, Eyes Lending Business
Cryptocurrency firm Coinbase has acquired the custody business of Xapo, a service best known for storing Bitcoins in a vault under a Swiss mountain. The acquisition comes as part of an aggressive push by Coinbase to expand its custody services, and could result in the San Francisco company storing over 5% of all Bitcoins in circulation. Coinbase paid $55 million for Xapo and, as a result of the deal, now has over $7 billion in crypto assets under management, according to a person familiar with the deal. The person, who was not authorized to speak for attribution, said the purchase came after Coinbase outbid investment giant Fidelity. Xapo, which launched in 2013, will hold onto its exchange business, which lets ordinary consumers buy and sell Bitcoin. Its founder, Wences Casares, says he will stay on in his long-time role of CEO. In an interview with Fortune, Casares said the retail exchange business has always been Xapo’s core focus, and that the custody business developed as a sideline at a time when wealthy Bitcoin investors needed a secure place to park their digital wealth. “It’s hard to do a consumer business well at the same time as an institutional business. Earlier this year, we looked for a home for it,” he said, Casares said other firms placed higher bids for Xapo’s custody business than the one from Coinbase, but those bidders lacked the security or regulatory credentials to be acceptable to Xapo’s clients. Among those clients was Grayscale Investments, which manages Bitcoin and other crypto investments in trust for wealthy customers. In early August, Grayscale transferred over 225,000 Bitcoins worth about $2.7 billion in assets to Coinbase Custody, one of the largest crypto transactions in history. According to the source familiar with the deal, the majority of Xapo’s largest clients have agreed to transfer their assets to Coinbase, giving the company control of over 514,000 Bitcoins. The remaining Xapo customer accounts are reportedly worth over $3.5 billion, and if Coinbase can sign on those customers as well, the company will have over 860,000 Bitcoins under custody. (There are approximately 16.4 million Bitcoins in circulation, though analysts believe 4 million of these are lost forever. ) The price of the digital currency has fluctuated between $10,000 and $12,000 in recent weeks. Prior to the Xapo purchase, Coinbase Custody had over $1 billion assets under management—assets that included other currencies beside Bitcoin. Rumors of the Coinbase-Xapo tie-up first surfaced in May in Axios and trade publication The Block, but the deal closed much later due to the sensitivity over transferring customer assets, and details such as who would take possession of the Swiss vault. The vault has been a source of numerous media reports about its status as repository for ultra-wealthy clients, as well as its elaborate security measures that reportedly involve armed guards and multiple layers of granite inside a mountain. According to Casares, Xapo will keep possession of the vault and use it to store Bitcoins on behalf of its retail customers. Meanwhile, Coinbase has elaborate security measures of its own, including systems to store private keys—which unlock Bitcoin wallets—in secret locations in various cities. Casares, a serial entrepreneur who is famous in crypto circles as an early Bitcoin evangelist, says the bulk of Xapo’s retail business takes place in South America and other developing countries. A native of Argentina, Casares has often spoken of how Bitcoin can help ordinary people hedge against the monetary predations of corrupt and incompetent governments.
The “Next Phase of Crypto” for Coinbase
For Coinbase, the acquisition of Xapo’s custody business escalates its efforts to expand beyond its core trading business. For years, profits from trading commissions have been the company’s bread and butter, but, while lucrative, the business is exposed to the crypto industry’s notorious volatility. Custody could be the answer to that. Coinbase is betting that building a secure storage system that meets regulatory requirements will lure investors that have till now been wary of adding crypto to their portfolios. According to CEO Brian Armstrong, the company on average is adding 10 new custody customers a week and $200 million in new assets. Following the Xapo acquisition, Coinbase says it now has over 150 clients for its custody business. ”Custody is a critical step toward the institutionalization of crypto economy. It’s likely to start off small—maybe a few billion under custody—but it will grow quickly to a point that it’s a meaningful piece of stable, recurring revenue for the company,” said Armstrong. While custody promises a dedicated revenue stream, it’s unclear if the traditional arrangement—where customers pay a small fee for secure storage—is viable. At a time when some U.S. dollar savings accounts are paying over 2% interest, and startups like Compound are offering ways to lend crypto to earn income, Bitcoin customers may balk at earning a negative return. According to Coinbase Custody CEO Sam McIngvale, the safety deposit box model of custody is rapidly changing. “Moving forward, the next phase of crypto custody is a much broader suit of services serving a much broader set of crypto assets,” he said, noting that Coinbase is working to store dozens of digital currencies, while Xapo has only provided custody for Bitcoin. Coinbase’s new custody services will include insurance and regulatory support, as well as “staking,” which amounts to a sort of proxy voting service for cryptocurrencies that have built-in voting mechanisms. “Fundamentally, we have to help our investors earn a return on their assets. You can imagine lending out Bitcoin and earning interest on that,” McIngvale said. Coinbase Custody will offer features to let customers plug into investing tools from other companies, he added. In the case of Coinbase Custody, McIngvale says all of its customers’ assets are fully backed by an insurance syndicate led by Lloyd’s of London. Coinbase isn’t the only company making a push into the custody space. In July, the startup Anchorage announced $40 million in backing from finance giant Visa as it seeks to reel in more institutional clients. Meanwhile, Palo Alto-based BitGo is also vying to be a player in the emerging world of custody. * More Details Here
New Coins on the Block – TRON (TRX) Iran: Nutzung des Bitcoin nimmt zu. Chris Larsen vor Mark Zuckerberg - Krypto-Szene mischt Club der Milliardäre auf. Kryptowährungen News. Bitcoin im Aufwind: Handelsvolumen explodiert . 10.10.2019 10:59 Franz-Georg Wenner Es kam wie es kommen musste: Die amerikanische Börsenaufsichtsbehörde hat einen Bitcoin-ETF vorerst abgelehnt. Am Markt sorgt ... Bitcoin has been in the news recently for good and bad reasons. You are probably also seeing the word Blockchain, and may be curious what that is. It is important for people wary of government intervention in their lives to understand what Bitcoin is, and if it is an avenue that can be used to safeguard wealth or act as an investment. Five years ago, Bitcoin was the only major online currency. Power plants in Iran are allowed to mine cryptocurrencies, the deputy head of the country's Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly confirmed. Earlier this year however it has become mandatory to hold a license to extract Bitcoin in Iran. The miners must announce details of their extraction equipments and their activity when they request a license. A report that was published in January 2019 confirmed that at that time more than 100 mining companies were successful to get the license. Details! Bitcoin prices and US-Iran tensions. by Christopher Hamman. January 5, 2020. in Bitcoin, Business, Finance, General News. 3 min read 0. 0. SHARES. 1.3k. VIEWS. Share on Facebook Share on Twitter. The United States has done what it has always been known for: the world’s policeman. This, of course, has various consequences for the rest of the world. The recent killing of the commander ...
How transactions are verified in Bitcoin Blockchain ...
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