Which Cyprus forex brokers are scam? - Quora

1. Regulated Forex Scams? You Bet

Yes, Regulated Forex Brokers Commit Scams

When one typically hears the phrase “forex scam” one automatically assumes that it is being perpetrated by an unlicensed or unregulated forex broker. For the most part, that assumption is correct. All you have to do is a quick google search and you will find numerous articles detailing reprehensible acts committed by unregulated forex and binary options brokers. However, there have been numerous instances of regulated forex brokers skirting the rules.

Not all regulated brokers are trustworthy

Unfortunately, there are numerous regulated forex brokers that have defrauded unsuspecting clientele as well. Last year on the CFTC slapped a $7 million fine on Forex Capital Markets (FXCM) in a civil monetary penalty for engaging in fraudulent and misleading solicitations, spanning from September 4, 2009, through at least 2014.
Additionally, the CFTC emphasized that FXCM had misrepresented that its ‘No Dealing Desk’ trading platform had no conflicts of interest with its clientele. Instead of running a true ECN execution platform where trades are performed directly in the interbank market, their clientele’s trades would be redirected to a Effex Capital LLC, which was originally designated to be an independent market maker but was, in reality, an extension of FXCM. Effex Capital would take very aggressive forex trades against the investors in order that they would lose and in return, FXCM would be the beneficiary of some very high kickbacks, which they received under the table from FXCM.

FXCM barred from the U.S.

Because of their duplicitous practices, the CFTC withdrew their regulation and FXCM was no longer allowed to service U.S. customers. Additionally, FXCM was caught by the FCA in yet another forex scam. They took away their investors’ positive swaps, causing them to only receive negative swaps. Surprisingly, the FCA did not remove their regulation.

Beware of OTCapital

OTCapital, forex broker regulated by ASIC has been swindling numerous investors. Broker Complaint Registry has received numerous complaints from those who have been victimized by their reprehensible practices. Complaints have ranged from not allowing clients to withdraw their earnings to never receiving a call back after they had deposited. Unfortunately, ASIC has not taken any action against OTCapital.

Protect yourself from a forex scam

Before you deposit money with a broker you must first make sure that the broker is regulated by an entity such as the CFTC, FCA, ASIC or the IIROC. Remember not all regulatory bodies are created equal. For example, if the broker that you are interested in has only a CySEC (Cyprus) regulation it would be wise to steer clear. Although they have gotten tougher on rulebreakers, CySEC is still lax in numerous areas.
Additionally, do your research. This means reading reviews, looking at various forums, and so on. It is not enough that the broker you are interested in has a regulation. You must vet them.
If you have fallen victim to a cryptocurrency scam, send a complaint to at [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process. Visit www.fundsrecovery247.com for more information or Contact - [email protected] com.
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Five countries with the cheapest gasoline

Five countries with the cheapest gasoline
The cost of oil is an important component of gas prices. Also, an essential factor influencing the retail price of petrol is the commission, subsidies, the cost of processing and transportation, and other charges.
Today we will talk about countries with the cheapest gasoline, according to statisticstimes.com. The ranking includes 164 countries of the world. In 61 states, 1 liter of gasoline costs less than $ 1.
5th place: Algeria
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Price of 1 liter of gasoline: $ 0.35
Algeria's economy is based on gas and oil. Segments provide 30% of GDP, 60% of the state budget revenue, and 95% of export revenue.
The Algerian authorities are making efforts to diversify the economy and attract foreign and domestic investment in other sectors.
4th place: Iran
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Price of 1 liter of gasoline: $ 0.29
For many centuries this country has played a crucial role in the East. Iran is one of the most technologically advanced states in the region.
Iran is located in a strategically important region of Eurasia and has large reserves of oil and natural gas.
3rd place: Sudan
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Price of 1 liter of gasoline: $ 0.14
Since 2011, after South Sudan gained independence, oil production in the country has decreased (most of the fields were located in the south of the state).
Sudan is covering the external debt of South Sudan through exports of South Sudanese oil through its territory.
2nd place: Cuba
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Price of 1 liter of gasoline: $ 0.09
Venezuela plays an important role in Cuba's foreign trade, which, in exchange for the services of Cuban doctors, teachers, and trainers, supplies Havana with cheap oil.
1st place: Venezuela
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Price of 1 liter of gasoline: $ 0.01
According to the statement of the International Monetary Fund, the inflation rate in Venezuela will reach 1,000,000% at the end of 2018.
The leading causes of the economic crisis are structural and political factors. It triggered a significant dependence on imports, a decrease in world oil prices, and state control over the production and distribution of food.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Past performance is not a reliable indicator of future results.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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The richest man in the world lost $ 7 billion in a day

The richest man in the world lost $ 7 billion in a day
Amazon founder CEO Jeff Bezos has lost nearly $ 7 billion due to a fall in the company's stock following a third-quarter results report, according to CNBC.
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The corporation's report said that Amazon's operating income declined to $ 3.2 billion over the same period in 2018 when it was $ 3.7 billion. Besides, the company's net profit fell to $ 2.1 billion against $ 2.9 billion for the same reporting period in 2018.
The main reason for Amazon's weak performance was the increase in costs of free one-day delivery to Prime customers. The company explained that it is investing heavily in logistics and service infrastructure.
Back in the previous quarter, Amazon indicated that it spent "a little more" than it intended to work on this project. It was about $ 800 million. The company did not disclose how much it spent on the project in the third quarter. Still, financial director Brian Olsavsky said that Amazon plans to allocate $ 1.5 billion in the fourth quarter.
After the release of the report, the value of the company's securities decreased by 9%, which is why, according to CNBC, Bezos lost $ 6.9 billion. Subsequently, Amazon's stock price rose to $ 1.76 thousand apiece but later fell again.
If Amazon shares continue to fall in price, Bezos could lose the status of the richest man in the world and give up first place in the list of billionaires Bloomberg Billionaire Index to Microsoft founder Bill Gates, the channel notes.
In early October, Forbes reported that the fortune of the head of Amazon after a divorce from his wife fell by $ 46 billion compared to last year, to $ 114 billion. With the divorce, Mackenzie Bezos received about 19.7 million shares of Amazon, which allowed her to get on the list of the wealthiest people in the world. Now she takes the 21st line there with $ 35.8 billion.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Past performance is not a reliable indicator of future results.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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Telegram allowed that TON launch could be postponed for six months or a year

Telegram allowed that TON launch could be postponed for six months or a year
The team wants to resolve disputes with the US regulator during this time, sources said.
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Telegram may postpone the launch of the TON blockchain platform for six months or a year due to an injunction in the United States. About this, Forbes told two project investors.
According to one of the interlocutors of the publication, the team of the founder of Telegram, Pavel Durov, is confident that during this time, he will be able to resolve all disputed issues with the US Securities and Exchange Commission (SEC).
The Telegram management will make the final decision after the court on October 24 considers the SEC statement to suspend the release of the Gram cryptocurrency. Up to this point, Telegram representatives will limit their communication with investors, said the source of the publication, close to the team of Durov.
On October 11, the US Securities and Exchange Commission secured a temporary injunction against the issuance and further sale of Gram tokens in the United States by Telegram Group and TON Issuer. SEC insists that Gram is a security, which means issuing it involves issuing a prospectus and disclosing information about the financial condition, management, and risk factors.
Telegram planned to launch the TON blockchain platform by October 31. Otherwise, the company promised to return the invested $ 1.7 billion to investors. However, The Bell writes that Telegram management can avoid the need to return the investment since the agreement classifies the SEC ban as force majeure.
Officially, Telegram representatives did not comment on the cryptocurrency ban.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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Telegram allowed that TON launch could be postponed for six months or a year

Telegram allowed that TON launch could be postponed for six months or a year
The team wants to resolve disputes with the US regulator during this time, sources said.
https://preview.redd.it/v27xl5xh0xs31.png?width=810&format=png&auto=webp&s=577119d8ca9968e2e329afb4bc0807b14a72655e
Telegram may postpone the launch of the TON blockchain platform for six months or a year due to an injunction in the United States. About this, Forbes told two project investors.
According to one of the interlocutors of the publication, the team of the founder of Telegram, Pavel Durov, is confident that during this time, he will be able to resolve all disputed issues with the US Securities and Exchange Commission (SEC).
The Telegram management will make the final decision after the court on October 24 considers the SEC statement to suspend the release of the Gram cryptocurrency. Up to this point, Telegram representatives will limit their communication with investors, said the source of the publication, close to the team of Durov.
On October 11, the US Securities and Exchange Commission secured a temporary injunction against the issuance and further sale of Gram tokens in the United States by Telegram Group and TON Issuer. SEC insists that Gram is a security, which means issuing it involves issuing a prospectus and disclosing information about the financial condition, management, and risk factors.
Telegram planned to launch the TON blockchain platform by October 31. Otherwise, the company promised to return the invested $ 1.7 billion to investors. However, The Bell writes that Telegram management can avoid the need to return the investment since the agreement classifies the SEC ban as force majeure.
Officially, Telegram representatives did not comment on the cryptocurrency ban.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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Developer from Indonesia became a billionaire after the growth of his company shares by 500%

Developer from Indonesia became a billionaire after the growth of his company shares by 500%
The value of the shares of the developer Pollux Properti Indonesia has grown by more than 500% since mid-July 2019. As a result, the primary owner and CEO of the company, Nico Purnomo Poe, became a dollar billionaire with an estimated value of $ 3.6 billion, Bloomberg writes.
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As of October 14, Pollux shares are trading at 7,000 Indonesian rupees per share ($ 0.49), with a capitalization of 58.02 trillion Indonesian rupees (about $ 4.1 billion).
According to Bloomberg estimates, a company's value is 34 times the size of its net assets and ten times the market average. Since mid-June, the daily trading volume of Pollux shares has reached $ 70,000, which is not a very large volume for such a sharp increase in value, the publication notes.
The rapid rise in stock prices reflects the investment attractiveness of future projects and the company's prospects, says Nico Purnomo Poe. According to the owner of Pollux Properti, the stock is growing because the company has shown that it can fulfill promises to customers.
The company recently completed the construction of the World Capital Tower business complex, which has become one of the tallest buildings in Jakarta. However, other Pollux Properti projects have not yet been completed, Bloomberg points out.
Pollux Properti's profit for the first half of 2019 increased by 201% compared to the same period in 2018 and reached 35.9 billion rupees ($ 2.5 million), it follows from the company's statements.
The sharp rise in shares of Pollux Properti attracted the attention of the Financial Services Authority of Indonesia. The regulator monitors the situation together with the Indonesia Stock Exchange, which in early September temporarily suspended trading in Pollux Properti shares. Now trading resumed.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Past performance is not a reliable indicator of future results.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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Facebook will pay only parts of the media for publishing their materials

Facebook will pay only parts of the media for publishing their materials
Partners will receive from several hundred thousand dollars to $ 3 million per year.
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Facebook will not pay all the media that agree to post their materials in the news section of the News Tab social network. Only a quarter of partner publishers will get paid, writes The Wall Street Journal, citing sources familiar with the situation.
The launch of the News Tab is scheduled for October 2019; the section will appear in the Facebook mobile application. At the start, there will be 200 publications from various sources. One of the interlocutors of WSJ claims that the company never planned to pay all partners.
According to the publication, the social network offers partners, which consist of significant media holdings and federal news agencies, three-year contracts with annual payments ranging from several hundred thousand dollars for regional publications to $ 3 million per year.
Facebook is negotiating publications with Dow Jones & Co (publisher of The Wall Street Journal), Washington Post, New York Times, Business Insider, BuzzFeed, HuffPost, Philadelphia Inquirer, and others.
The News Tab will be in the bottom menu of the Facebook mobile application. When you open the tab, the user will be taken to the section "Top News" with ten headlines from different publications. According to WSJ, there will be no ads in the News Tab feed.
The curators will put the collections in the section "Breaking News" for this Facebook will hire journalists. News in other parts ("Sports," "Entertainment," "For You" and so on) will collect algorithms. Facebook will allow the media to choose the format for posting materials - the publication of full texts on the social network or only headings with links to the publication's website.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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Green zone: Dow Jones is rising again

Green zone: Dow Jones is rising again
US stock indexes finished Wednesday on a positive. Standard & Poor's 500 increased by 21.54 points (0.72%), amounting to 3000.93 points on September 11. The Nasdaq Composite value increased by 85.52 points (1.06%) - up to 8169.68 points. The Dow Jones Industrial Average index increased by 227.61 points (0.85%) - up to 27137.04 points.
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At the same time, the Dow Jones Industrial Average will finish in positive territory for the 6th day in a row, which has not happened since June 10. Besides, for the first time since July, it exceeded the mark of 27,000 points, and Standard & Poor's 500 rose above the level of 3,000 points for the first time in 6 weeks, according to MarketWatch.
The Russell 2000 Small Capitalization Companies Index rose 2.1%, increasing the rise from the start of the week to 4.6%. The S&P 500 added just 0.5% since last Friday.
GameStop Corp Securities Price (NYSE: GME). collapsed by 9.8% after a video game retailer reported a loss of more than $ 400 million last quarter. At the same time, revenue and adjusted earnings fell short of analysts' forecasts.
Cost of Amazon.com Inc (NASDAQ: AMZN) rose by 0.1%. The US Federal Trade Commission (FTC) has launched a survey of representatives of small companies that sell products on the Amazon platform to determine whether the e-commerce giant uses its market power to infringe on its competitors.
Securities of Apple Inc. (NASDAQ: AAPL) added 3.2%. A day earlier, the company introduced three new iPhone models, including cheaper ones, and talked about plans to enter the video streaming market, where it will offer a subscription at attractive prices for customers. Apple seeks to offset the slowdown in sales of its devices by expanding its offer of new services, including streaming TV and video games.
Quotes of Taxi order services, such as Uber Technologies Inc. and Lyft Inc. increased by 1.5% and 2.4%, respectively. The Senate of the US state of California approved a bill that could oblige companies in the so-called gig economy to consider independent workers their employees.
Granting independent employee status to company employees and compensation payments will increase Uber and Lyft expenses per driver by $ 2-3.6 thousand per year, according to a study by Barclays Plc (LON: BARC) and Macquarie Capital.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Past performance is not a reliable indicator of future results.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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Apple introduced the iPhone 11 Pro and Pro Max with a triple camera

Apple introduced the iPhone 11 Pro and Pro Max with a triple camera
Apple introduced the iPhone 11 Pro and Pro Max with three main cameras at 12 MP. The broadcast of the annual autumn presentation of the company was conducted on YouTube.
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The new iPhone will have: a camera with an ultra-wide-angle lens with a coverage of 120 degrees, a camera with a telephoto lens and a regular camera (in Apple it is called simply wide-angle). Apple also showed the Deep Fusion feature, which takes several shots and combines them into one image to “pull out” as many details as possible.
All three cameras shoot video in 4K resolution and 60 frames per second. New functions have appeared in the photo and video editor - for example, in one window you can see how the frame from each camera looks and select the best one.
iPhone 11 Pro and Pro Max are equipped with a new OLED screen. The smartphone supports Dolby Vision and Dolby Atmos; Apple called the Super Retina XDR display. The screen size of the Pro will be 5.8 inches, and the Pro Max - 6.5 inches. Both models are equipped with an A13 Bionic processor.
The iPhone 11 Pro will last four hours longer than the iPhone XS, and the iPhone Pro Max five hours longer than the iPhone XS Max, the company said. The kit will go fast charging.
Smartphone sales in the first wave countries will begin on September 20, 2019. The iPhone 11 Pro and iPhone 11 Pro Max will be available in four colors: dark green, silver, gold and space gray. Available memory: 64 GB, 256 GB and 512 GB.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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WeWork valuation before IPO fell from $47 billion to $ 20-30 billion

WeWork valuation before IPO fell from $47 billion to $ 20-30 billion
The WeWork coworking network has lowered its estimate before the IPO, due in 2019. The Wall Street Journal, Bloomberg and CNBC write about it citing their sources.
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Interlocutors of WSJ and Bloomberg say that WeWork expects an estimate of $ 20 billion to $ 30 billion. CNBC sources say that the forecast is $ 25 billion. These amounts are one and a half to two times lower than the estimate of $ 47 billion that WeWork received from private investors in January 2019.
The final estimate may still change depending on investor demand, Bloomberg points out. Now WeWork and its investors, including SoftBank, are discussing the terms of the sale of shares. According to the publication, the company expects to sell shares for $ 3.5 billion and plans to hold a series of meetings with investors and analysts until September 15.
According to WSJ, at the end of August, the head of WeWork, Adam Neumann, flew to Tokyo to meet with SoftBank CEO Masayoshi Son and discuss the possibility of additional financing for the company. According to sources, the parties discussed several options:
SoftBank will act as the primary investor during the IPO and will buy back most of the shares that WeWork expects to sell for up to $ 3-4 billion.
SoftBank is additionally investing in WeWork, which will allow the company to postpone its IPO until 2020.
The interlocutors of WSJ were not able to say whether SoftBank will ultimately additionally invest in WeWork. A WeWork representative declined to comment.
Founded in 2010, WeWork has raised more than $ 12 billion over nine years and is still unprofitable. It follows from the August prospectus that the company's loss in the first half of 2019 was $ 904 million with revenue of $ 1.5 billion.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Past performance forecasts are not reliable indicators of future results.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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Google released Android 10 for Pixel smartphones

Google released Android 10 for Pixel smartphones
Google has released the first stable version of the Android ten operating system for regular users. While it is available only for Google Pixel smartphones.
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The company promised that on smartphones from other manufacturers, Android 10 would appear later in 2019. The exact dates and specific partners at Google were not named. Some models of smartphones Huawei, OnePlus, LG, Xiaomi, and other manufacturers participated in testing the beta versions of Android 10.
Part of the features that Android 10 received:
A dark theme which can be activated both for individual applications and for the entire system.
The "smart answer" supports various actions with notifications: for example, the system prompts you to immediately open the link in Chrome, the video on YouTube, the address in the maps application.
Updated navigation with gestures: swiping on the screen replaces the "Back" button; by default, when swiping to the right, the system deletes the notification, and when swiping to the left, it opens a new menu.
Live Caption - creates subtitles for video and audio clips (for example, podcasts or audio messages) in any application in real-time.
Security updates and other vital components of the Android OS are downloaded via Google Play. This way, Google will be able to quickly distribute essential updates without waiting for device manufacturers to download them.
Control over track location. For example, a user may restrict tracking for applications to their active use only. The system will warn if an application continues to track location after closing.
Focus Mode allows you to temporarily disable applications that distract the user from the main work, including social networks, instant messengers, YouTube, and more. The feature will be available later in 2019.
You can find more information about the stock market, commodity market, and FOREX on the ITRADER site.
This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
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KFC will start selling vegetable-based chicken nuggets using Beyond Meat in the US

KFC will start selling vegetable-based chicken nuggets using Beyond Meat in the US
KFC fast-food chain will begin selling vegetable-based chicken nuggets and wings Beyond Fried Chicken from artificial meat producer Beyond Meat. Testing will be conducted at one of the KFC restaurants in Atlanta, Forbes writes.
Testing will begin on August 27, 2019. How long it will last is not specified. The company wants to collect feedback from visitors before deciding whether to launch the product in several establishments or throughout the network in the United States, Business Insider notes.
KFC will sell nuggets for $ 1.99 for four. Wings will cost $ 6 for six or $ 12 for 12 wings, respectively.
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According to the Plant-Based Foods Association, retail sales of plant-based products grew 11% in 2018 in the U.S. The organization estimated the market for such products at $ 4.5 billion, Forbes notes.
In May 2019, KFC head in the U.S Kevin Hochman said that the company was interested in artificial meat producers. Then he emphasized that in the near future, the network was not going to introduce vegetable-based chicken into the menu.
Beyond Meat was founded in 2009 in the USA. The company produces products from plant ingredients that mimic the taste and texture of real Meat. The company held an IPO in May 2019.
Beyond Meat already collaborates with Carl's Jr., Dunkin' Donuts, Burger King and other restaurants and shops.
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Top 3 most profitable companies in China

Top 3 most profitable companies in China
China has become the center of development of the global economy, and Chinese companies have shown excellent financial performance in recent years.
Fortune magazine ranked the 500 largest Chinese companies.
The joint profit of China's three most profitable companies reached 1.46 trillion yuan, accounting for 40.3% of the total benefit of all companies, the study said.
Below we will talk about the three most profitable companies in China.
3rd place: China Construction Bank
China Construction Bank is one of the largest banks in China.
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The China Construction Bank network has 14,925 branches in mainland China, as well as ten branches outside (in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo, Seoul, Sydney, Taipei, New York, and Ho Chi Minh City).
And a number of subsidiary banks, such as CCB Principal Asset Management (asset management services), CCB Financial Leasing (lending), CCB Trust (trust fund), CCB Life (insurance), Sino-German Bausparkasse (Sino-German building society), CCB Asia (Asia), CCB London (UK subsidiary), CCB Russia (Russian subsidiary), CCB Dubai (Dubai subsidiary) and CCB International.
2nd place: Bank of China
Bank of China is a Chinese financial group formed based on the oldest of the current Chinese banks. Headquarters - in Beijing.

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The main activity is commercial banking; it accounts for 90% of operating profit; this area includes corporate banking (42%), private banking (33%) and treasury operations (15%).
The main region of activity is in mainland China (PRC, excluding Hong Kong and Macau). Hong Kong, Macau, and Taiwan account for 17% of assets and 23% of operating profit.
The group's overseas network consists of 545 branches in 53 countries, the most significant presence in Canada, the UK, and Singapore.
1st place: Industrial and Commercial Bank of China
ICBC is China's largest commercial bank. The company enters the Big Four of the largest state-owned banks in China (along with Bank of China, Agricultural Bank of China and China Construction Bank).
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The PRC government owns the majority stake through several state-owned investment companies. In general, ICBC has more than 500 thousand shareholders.
ICBC controls a fifth of China's banking sector.
The main region of activity is the People's Republic of China: it accounts for more than 90% of the bank's revenue and assets (with half of the foreign activity accounted for by the special administrative regions of the PRC of Hong Kong and Macau).
The bank's overseas network includes 419 organizations in 45 countries and is also present in 20 more African countries through partnership with the South African Standard Bank.
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Top 3 most influential Chinese brands

Top 3 most influential Chinese brands
The American information-analytical and consulting network Kantar together with WPP published a report on influential Chinese brands.
It is noted that the strength of Chinese brands is growing fastest in Japan, France, and Spain, which are developing growth centers.
3rd place: Alibaba
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Brand strength: 1.624
% change compared to 2018: 48%
Chinese e-commerce publicly-traded company, owner of B2B web portal Alibaba.com. Company's headquarters locates in Hangzhou. The main activities are trading between companies in a B2B scheme and online retail trading.
2nd place: Lenovo
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Brand strength: 1.698
% change compared to 2018: 0%
Lenovo is the Chinese company, which produces personal computers and other electronics. It is one of the largest manufacturers of personal computers.
Lenovo's headquarters are located in Beijing, China, and a company is registered in Hong Kong. The main research centers of the company are located in Beijing, Shanghai, and Shenzhen (PRC), as well as in Yamato (Japan).
1st place: Huawei
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Brand strength: 1.862
% change compared to 2018: 22%
Huawei is one of the world's largest telecommunications companies. Huawei founded in 1987 by the former engineer of the People's Liberation Army of China, Zhen Zhenfei.
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Sonder rental service raised to $ 210 million, valuing over $ 1 billion

Sonder rental service raised to $ 210 million, valuing over $ 1 billion
The rental service of premium apartments Sonder $210 millions during round D, with an estimate of more than $ 1 billion, the company blog says.
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Investment companies Valor Equity, Westcap, and venture investor Nicholas Pritzker through Tao Capital Partners have become the leaders of the round. By the end of the summer of 2019, Sonder plans to raise another $ 15 million.
“The future of hospitality will be dynamic,” writes Sonder co-founder and chief executive officer Francis Davidson in a statement.
“It will demand flexibility. And that’s what our diverse, unique and adventure-seeking world is like too. That’s why, while our spaces will continue to take on new forms and expand to exciting neighborhoods around the world, a Sonder will always be unforgettable,” he added.
The company will spend the raised funds on opening a second headquarters in Canada and expanding the staff of designers, developers, and finance specialists.
Startup Sonder was founded in 2012 in San Francisco. Users can rent premium apartments without intermediaries using the service. Employees of the company are engaged in the design and equipment of flats, as well as ensure that customers have all the essentials.
“Canada has such a trajectory and momentum and it’s the obvious choice in my view,” Mr. Davidson said in the interview with The Globe and Mail. “You know the stories about the Bay area and how absurd the housing market has become. San Francisco is one of the most expensive cities in the world and that’s reflected in the salaries as well and the competitive war for talent. It would be unsustainable for us to continue to grow here."
There are more than 8,500 apartments in 20 cities of Europe and North America at the disposal of Sonder, according to TechCrunch. By the end of 2019, the company plans to increase revenue to $ 400 million.
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Microsoft invests $1 billion in the organization for the development of artificial intelligence OpenAI

Microsoft invests $1 billion in the organization for the development of artificial intelligence OpenAI
Microsoft said it planned to invest $1 billion in the organization for the development of artificial intelligence OpenAI, according to the VentureBeat publication.
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The companies have agreed to enter into a partnership to jointly develop AI technologies based on the Microsoft Azure cloud platform. Under the terms of the deal, the corporation will be able to sell products based on some OpenAI technologies. Besides, the organization will use the Azure cloud to test its AI models.
"AI is one of the most transformative technologies of our time and has the potential to help solve many of our world's most pressing challenges," said Microsoft CEO Satya Nadella. "By bringing together OpenAI's breakthrough technology with new Azure AI supercomputing technologies, our ambition is to democratize AI — while always keeping AI safety front and center — so everyone can benefit."
Co-founder of OpenAI, Greg Brockman, said that the company needed this partnership also because of the lack of computing power. According to the company, from 2012 to 2018, the number of calculations required for launching AI models increased more than 300 thousand times.
In 2018, a quarter of all expenses of OpenAI fell on cloud computing, Reuters writes. In 2017, the company spent in this area approximately $7.8 million.
The organization has released several projects: the OpenAI Gym AI research platform, the Neural MMO gaming platform for bots training, the MuseNet AI 4-minute composition generator, the OpenAI Five program, which beat the professional Dota 2 players and others.
OpenAI was founded by Elon Musk, Peter Thiel and other partners in 2015. All of them have invested $1 billion in the organization. Until 2020, the company planned to spend only "a small part of this amount."
In February 2019, Musk announced that he had left the company due to a conflict of interest. According to him, Tesla tried to hire the same people as OpenAI.
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Nicolas Maduro ordered the largest bank in Venezuela to accept El Petro

Nicolas Maduro ordered the largest bank in Venezuela to accept El Petro
The largest bank in Venezuela, Banco de Venezuela, will begin to accept the national cryptocurrency El Petro. The corresponding order was given by President Nicolas Maduro, according to CCN.
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Thus, the head of state issued an “urgent decree on the opening of Petro terminals in all branches of the Bank of Venezuela.” Note, there are about 790 Banco de Venezuela branches in the country.
In the local crypto community, the news was faced with enthusiasm:
“It is a bold and correct decision to move forward towards a hybrid economy where the fiduciary currency of a country competes face to face with cryptocurrency,” José Angel Alvarez, president of the National Cryptocurrency Association said.
“We should also note that Banco de Venezuela is the most important bank in the Venezuelan financial system and has the most significant number of clients. With this decision, this bank would become one of the exchanges with more physical offices in the world,” he added.
Recall, Venezuelan President Nicolas Maduro said for the first time about the creation of digital currency El Petro, which, presumably, should be provided with oil produced in the country, in early December 2017.
Later, by order of the president, some Venezuelan enterprises were obliged to make deals using El Petro, and then Nicolas Maduro announced that the country would have a new wage and price system tied to the national cryptocurrency.
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Ex-head of mining giant Bitmain has launched a new cryptocurrency startup

Ex-head of mining giant Bitmain has launched a new cryptocurrency startup
The former head of the Chinese company Bitmain Jihan Wu, together with some ex-employees of the mining giant, has launched a new platform for over-the-counter trading, lending and storage of digital assets, Bloomberg reports.
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So, according to the CEO of the site called Matrixport Ge Yuesheng, it began to work this Monday, July 8. He also said that the idea of its creation appeared in January amid financial problems of Bitmain.
Then the company fired dozens of employees, many of whom later became part of the Matrixport team. Nevertheless, Yuesheng noted that the new platform is not going to compete with Bitmain in any way.
“We are closely tied to Bitmain by our origin,” Ge, a Bitmain shareholder himself, said in an interview. “But because we operate in different businesses, we are partners rather than competitors.”
The site intends to compete with other companies. The organization is registered in Singapore, which, according to Yuesheng, will allow it to circumvent the ban on trading cryptocurrencies in the PRC. At the moment, the Matrixport team has about a hundred people, and Jihan Wu is one of the largest investors.
Recall that Jihan Wu intends to leave the leading post in Bitmain and it became known at the beginning of the year. However, he retained the right to vote on issues of strategic importance to the company.
Later, the media reported that Wu intends to launch a startup specializing in over-the-counter trading, lending, and custody solutions by the end of July.
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The trial of the founder of Theranos Elizabeth Holmes will begin in August 2020

The trial of the founder of Theranos Elizabeth Holmes will begin in August 2020
The trial of Elizabeth Holmes, founder of the Theranos blood test startup, will begin in August 2020. She faces up to 20 years in prison and "millions of dollars" of fines, TechCrunch reports.
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Holmes and former Theranos president Ramesh Balwani were charged with 11 prosecutions. Two of them are related to the organization of fraudulent schemes against investors, as well as doctors and patients, the others relate to specific cases of fraud.
Protection of Theranos plans to act against Wall Street Journal journalist John Carreyrou. He first spoke about the work of Theranos and described a scheme to deceive investors and patients, who hoped that the company would provide a cheap, quick, and accurate blood test. WSJ has already announced that it is confident in the accuracy and honesty of the journalist.
According to Theranos lawyers, Carreyrou not only contacted the regulators and doctors to prepare the text, but also urged his sources to file complaints against the company, and agencies to investigate these reports. The journalist deliberately distorted the company's image in front of the regulators, the defense believes.
Lawyers polled by Bloomberg suggest that Theranos's position may confirm the allegations, and the company is trying to shift the focus from fraud charges to Carreira's work. The jury's decision on the criminal case should be unanimous, and lawyers may try to find at least one person on the board who will be sympathetic to the company, experts say.
Theranos was founded in 2003 and attracted more than $ 700 million from private investors and estimated at $9 bn. The US Securities and Exchange Commission believes that the project was originally conceived as a fraudulent scheme, fueled by false statements about the company's finances and technologies.
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Top 3 countries with the most significant uranium reserves

Top 3 countries with the most significant uranium reserves
Some people may think that uranium is used only to make atomic bombs and nuclear power plants. However, uranium has many possibilities for application. Also, this element is of great importance.
That is why ITRADER is going to describe you the top 3 countries with the largest uranium reserves in the world.
3rd place: Russia
Russia ranks third in uranium reserves. According to specialists, there are 487,200 tons of uranium in its depths, which is 9.15% of the world's uranium resources.
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Despite the size of the country and vast reserves of uranium, there are only seven deposits in Russia, and almost all of them are in Transbaikalia.
More than 90% of the mined uranium in the country is from the Chita region.
2nd place: Kazakhstan
The second place in uranium reserves belongs to Kazakhstan. In the Asian country is 11.81% of world fuel reserves, which is equal to 629 thousand tons of uranium.
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There are 16 developed fields in Kazakhstan, where a valuable resource is mined.
Kazakhstan is a country rich in natural resources. It is noted that 22% of the country's total exports go to Russia and China.
1st place: Australia
Australia is the undisputed leader in uranium reserves in the world. According to the World Nuclear Association, about 31.18% of the world's uranium reserves are in this country, which in numerical terms means 661 thousand tons of uranium.
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Australia has 19 uranium deposits. The largest and most famous ones are Olympic Dam, where about 3 thousand tons of uranium is extracted per year, Beverly (production of 1 thousand tons) and Honeymoon (900 tons per year). The cost of uranium mining in the country is $40 per 1 kg.
Australia's political and economic stability makes it an ideal place to work for many mining companies, such as Rio Tinto and BHP Billiton Limited.
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Where to register the company for your Forex Brokerage?

Where to register the company for your Forex Brokerage?


Thinking about starting your own Forex Brokerage? The first logical question is "Where is the best location to incorporate and license your broker?".
However before we proceed on to answer this question, there are other related questions a person who has a serious interest in opening his FX Brokerage needs to answers.
Q1) Which regions are your going to concentrate on for retail clients?
Q2)When do you plan on launching your company & product?
Q3)How much money do you plan on establishing your brokerage?
Q4)Which business model are you going to have ? (STP,Market Maker,DD,Mixed)
Q5)Which bank will open you a corporate bank account?(depends on license & country of incorporation)
Q6)How're you going to collect the payments from your clients?
For the purposes of answering the question, we will divide certain geos(regions) in Tiers based on the level of reporting, capital requirement & tight regulated environment each jurisdiction has.
1) Tier 1 :
To safeguard investors from fraudulent and ponzi schemes, many countries have established private or state owned organizations to monitor and regulate the Forex Market and are actively supported by the governments. Example of countries in this Tier are JAPAN(FSA JAPAN) & USA(NFA & CFTC).
There are profound reporting requirements, broker required to provide high quality in services and prove the availability of $20 Million USD of free liquid capital not including clients money. There is also a compulsion to have local offices and a significant membership fee as well.
2) Tier 2:
Regulations like FCA UK & ASIC Australia fall under this category. These jurisdictions require lower initial capital and are committed to reporting. Obtaining a license from these authorities may take anything between 6 months to a year depending on how fast the required documents are submitted.
Applying for a license from these regulatory authorities typically requires one to have a minimum of $100,000 USD of non client funds. The cost for this is approximately $35,000 to $50,000(depending on what license you take) for example if you plan to have a Dealing Desk which doesn't forward the liquidity flow to a third party then you need to show a high availability of disposable liquid funds available approximately $1 Million USD where as for STP(Straight Through Processing) models where you forward all the liquidity flow it's about $100,000 USD.
3)Tier 3:
Offshore with certain level of protection for investors like Cyprus(CySEC),, Malta(MSA), New Zealand (FSP) are the Tier 3 jurisdictions.
These regulators require the availability of a local office, simpler reporting & very low taxes. Specially Cyprus which offers good access to EU and is also ESMA compliant. The cost for CySEC range from 125,000 Euro to 750,000 Euro depending which model you're going for STP or Dealing Desk and the process time remains on par with the Tier 2 regulators.
4)Tier 4:
BVI, Marshall Islands, Belize & Seychelles are the Tier 4 jurisdiction and have a official regulation and license the broker needs to obtain if providing FX Instruments. Obtaining a license and getting a license usually takes 3-4 months and cost around $20,000 to $30,000 USD with a $500,000 USD in capital requirement(Belize). Also with these licenses it's easier to open and maintain a bank account.
5)Tier 5:
There are certain offshore jurisdictions Like St. Vincent & Grenadines or Bermuda where there getting a Forex license is not compulsory. Setting up a company needs only a little capital and the money saved can then be used on operations or marketing.
It's a bit difficult to obtain an account in a credible bank for Tier 5. Most startups go around this issue by listing their company for more than one service for example Consultancy, Marketing,FX, Travel etc or through EMIs which can provide an online IBAN. (B2B accounts mostly).
Many big brokers around the world start with small licenses and obtain their bigger licenses much later such examples include big names like Alpari, Admiral, Primus etc.
To keep up to date with the latest trends in FX industry or info on brokerages or white labels visit Stratton Forex. We'd love to hear from you.
Also check out our Recommended Brokers & Partners or Contact Us for the cheapest brokerage startup solutions in the world guaranteed!
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JPMorgan Bitcoin Analyst Report Part 2 - Full Text (sorry, no graphs)

Part 1: http://www.reddit.com/Bitcoin/comments/1xmo61/jpmorgan_bitcoin_analyst_report_part_1_full_text/ Part 3: http://www.reddit.com/Bitcoin/comments/1xmoax/jpmorgan_bitcoin_analyst_report_part_3_full_text/
MAKING MONEY THE OLD FASHIONED WAY
A discussion of bitcoin should begin with an Economics 101 refresher on money – what it is, how it is created and why we hold it. The classic definition of money is anything that serves as medium of exchange, unit of account and store of value. A medium of exchange can be anything deliverable for a good or service, whether a mundane object, a precious metal or piece of paper. In allcases, users value the medium because employing it is more efficient than bartering. A unit of account is a way of measuring value from a common reference point, thus also facilitating commerce because goods can be compared more easily. (Recall the euro’s usefulness in this regard since now prices in Europe are comparable across 18 countries.) A store of value is just a way of holding wealth until it is exchanged for goods and services or lent or given to someone else.
For centuries precious metals, or paper currencies convertible into metal at a fixed rate, served these three functions. But followers of financial history know the limitation of a system based on a fixed or slow-growing money supply: it imposes uncomfortable financial discipline on governments, households and corporates.
Hence the progressive debasement of pure gold coins with alloys; the global abandonment of the gold standard during the financial strains during World War I; and the US government’s suspension of the dollar’s gold convertibility given fiscal and balance of payments pressure from the Vietnam War.
Today most countries employ fiat currencies, or paper and coins with no intrinsic worth whose perceived value stems from government declaration (or fiat) collective belief. The government creates demand for a currency by declaring it legal tender, meaning it must be accepted as payment for all debts and it will be used in any transactions between the government and other agents.
Consumers and corporates accept this fiat currency because it is a requirement for settling all debts public (paying taxes) and private. The government attempts to guard the value of money by maintaining a monopoly on its production to avoid counterfeiting, and by establishing a central bank with a mandate to manage its supply responsibly over time.
While this system may sound like blithe existence in The Matrix, this relationship amongst government, central bank, households, corporates and fiat currencies is much more efficient than an alternative like barter. It also makes macroeconomic shocks much easier to manage than an alternative like the gold standard (recall the deflation of the Great Depression and more recently peripheral Europe).
BITCOIN AS BETTER MONEY
Bitcoin proposes an alternative, however. If – despite their mandates – the world's biggest central banks risk inflation and currency debasement via the rapid expansion of their balance sheets, and if even European governments still impose capital controls (Cyprus), couldn’t a non-state entity more responsibly supply a fiat-like currency to the world? And if this currency were created and exchanged digitally amongst peers of consumers and corporates, it would have the additional advantage of avoiding the fees imposed by financial intermediaries as well as the loss of privacy inherent in third-party payments systems. Hence the purported appeal of a virtual currency: a medium of exchange, a unit of account and a store of value without the alleged recklessness, capriciousness, siphoning and snooping inherent in traditional systems. Even leaving aside this caricature of bitcoin's underlying philosophy, there is something compelling about the idea.
Simple in theory, but more complex in practice. Consider the infrastructure of a traditional monetary and payments system to highlight what bitcoin attempts to replace. A traditional financial system is a national network comprising a central bank owned by a government, which creates money by physically printing currency and minting coins, or by electronically creating bank reservess. That money is used by households, consumers and the government to facilitate trade and investment via a payments system of banks and other financial intermediaries (think PayPal, Visa, Western Union and in some countries, the post office). Financial intermediaries provide numerous services of varying complexity, but their role in the payments system is simple: verify that Customer A has sufficient funds to pay Customer B, then securely transfer ownership of that money between accounts. For assuming that verification and transfer risk, intermediaries levy a fee.
Bitcoin performs these functions of money creation, payment verification and fund transfer quite differently. Its network is international and comprises miners who create the currency and users who obtain the currency to buy goods and services. There is no central monetary authority or regulator. There is also no financial intermediary for exchanging bitcoins for real products. The closest to an intermediary is an exchanger who will swap bitcoins for traditional fiat currencies like dollars, euros, yen or renminbi, like a forex dealer or futures exchange.7
Miners create bitcoins electronically by solving a mathematical algorithm released in 2009 by an unidentified programmer (or perhaps group of programmers) known by the pseudonym Satoshi Nakamoto. Anyone can be a miner; they simply need to download the software required to interact with others on the network, and acquire hardware powerful enough to run the multitudinous calculations to solve the algorithm. Since the technology required to solve an increasingly complex algorithm grows over time, miners will probably be programming specialists rather than the average consumer or businessperson.
Any individual or business can be a bitcoin user, however, by establishing an electronic account know as a wallet. This wallet is associated with a user's electronic address but not to any other identifying information such as their name, phone number or physical address. Thus bitcoin is a pseudonymous system rather than an anonymous one in that every user is known by something other than the legal names associated with traditional banking.
To provide security as well as transact with other users, bitcoin employs cryptography which assigns two keys (alphanumeric codes) to each account – a private one known only to them and a public one known to all other users in the network. When two users wish to transact, they send a message to the network using their public keys signed by their private keys. This transaction forms part of a block chain or bundle of transactions entirely in the public domain along with all other historical bitcoin transactions performed in the network.
Miners compete to verify that this trade is authentic via algorithms to confirm that indeed a user possesses the bitcoin and did not previously spend it. Programmers (miners) who solve the equations to authenticate a block of transactions receive 25 bitcoins increasing the money supply. Whenever the algorithm is solved, it becomes computationally more difficult so that the next attempt requires more time an effort (i.e. computing power). This feedback mechanism limits the growth rate of bitcoin supply, so is somewhat analogous to the production constraint on gold. The more that is mined, the greater the requirement to dig deeper pits, the greater effort required to extract the marginal ounce and the higher the price of the marginal ounce (or coin). The stock of bitcoins is arbitrarily set at 21 million units to be mined by 2140, 12 million of which have already been mined. At early-February market prices of about $700 per unit, the current bitcoin money supply has a value of about $8.5bn, equivalent to the market capitalisation of the Mauritius Stock Exchange.
As complicated as this process is, it begins to address several acknowledged deficiencies of fiat currencies. It provides steady, predictable growth in the money supply. It eliminates the risk of capital controls because the network lacks a central authority. It provides verification of fund balances to avoid fraud. And it eliminates or at least significantly reduces transaction costs for payments because verifiers are rewarded through bitcoin creation. As fanciful – and indeed Matrix-like – as this bitcoin creation system sounds, perhaps it requires no more suspended disbelief than the traditional fiat system in which a government declares paper to have value and a central bank or national mint thus issues the specie. One doesn’t need to be the caricatured miscreant, Austrian economist or anarchist to appreciate the appeal of such a system.
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