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What’s Happening on November 5th, 2020 in the UK?

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5th of november

“Remember, remember, the Fifth of November, the Gunpowder Treason and Plot. I know of no reason why the Gunpowder Treason should ever be forgot…”

Is that why November 5th is significant?

Well, not for those dramatic reasons, however, if the rumors were to be believed then it could be as big.

If you spend any time on the social media in the crypto related channels, you may have heard some people speculating that the recent surge in Bitcoin price is because of what’s about to happen on November 5th in the UK.

What’s about to happen November 5th 2020?

The UK is bringing the COVID related ban back on November 5th.  

Rumor is that the UK is also going to introduce a negative rate system while the country is in lock down.

These rumors have gained steam in the light of the letter from the Bank of England to banks asking ‘how ready are they if the interest rates were to be cut to zero or lower’.

The lock down will ensure that even if there were any riots or resistance against these new banking decisions – there will be less people on the streets.

Will this covert scheme work?

Again, if these rumors were to be believed and if the UK ends up introducing negative rates and if the public (especially savers) do not like these new regulations – there could be riots on the street.

The COVID regulations may not be able to hold down the people.

We saw this with Black Lives Matter movement in the US where people marched on roads in thousands in spite of COVID related restrictions.

Is negative interest rates all that bad?

That depends on how easy it is for you to get money from the bank today.

If you are among the people who can secure a big loan without much issue with the bank – this could be a great deal.

But what about people who are currently not ‘favored’ by the institutions because of poor rating or lower income levels?

What about people who have saved money all their life to retire in peace?  They certainly may not have a need to ‘borrow’ money to take advantage of these new regulations.

And, to think that they will be penalized for keeping money with the banks is an alien concept for many people around the world.

What general populace does not understand is that people are already penalized for saving in the form of inflation.  The negative rates only add insult to the injury for the savers.

People who know how to exploit the system to borrow will benefit greatly.  

In other words, this will be a boon to the rich and the elite class of the society who will now be paid to borrow money.

Will negative interest rates help the economy recover?

In theory, when people are penalized for saving, they are forced to spend.

Spending stimulates the economy.

Japan already has this negative interest system which was introduced in January 2016, however, it does not seem to be showing any significant improvement in their economy.

 

GDP growth in Japan

Source: World Bank

It does give edge to the governments around the world though by forcing people from ‘saving the money’.

One major flaw with the negative interest rates

When banks start penalizing people for saving money – they will pull the money out and stash it somewhere.

For the negative interest rates scheme to work, governments have to get all money into the system.

Central Bank Digital Currency (CBDC) is an easy way to bring money into the system.

Most money that is held with the banks is in digital form anyways, so it will be easy to swap the existing accounts at the bank to CBDC balances.

Once that happens, governments can introduce demonetization and declare all the old currency notes to be ‘illegal’ and force people to exchange their paper notes to the CBDC.

As onerous and cruel as this sounds – governments can do it. They have the power to do it.

A recent example is India which declared all of its 100 and 500 bills to be invalid overnight.  Some say, India had to do this, suspecting a multi-billion dollar worth of fake currency being injected into the country by anti-social elements.

No matter the reason behind this move, it just showcased the outreach of the governments into our financial lives.

Without CBDC (or similar form) – governments can never enforce a negative rate based system because people will opt out of the system.

In an ironic twist, blockchain based currency could help governments execute the plan of bringing all monies into the system’s fold.

Bitcoin could gain even under a CBDC scenario

If governments around the globe move to the CBDC system, then bitcoin which is touted as ‘digital gold’, could be used as a reserve in conjunction with other assets. 

Banks could use Bitcoin and Gold reserves as a ruse to lure people into believing that their money is ‘backed by’ something.

We say ruse because they can always change the rules back to ‘fiat system’.

November 5th may also have another significance, a big one

The US elections conclude on November 3rd (which is November 4th for the other side of the world) and if Democrats do not win with a landslide majority then there could be social unrest with Trump and his crew preparing to challenge the ballots cast through mail.

If such a declaration comes from the President’s office – it is entirely possible that we could see marching and rioting in the US.

With Trump confidants carrying assault weapons to ‘defend’ their beliefs – it could get quite ugly.

It may not lead to a civil war but the unrest will be quite unsettling.

When such issues arise – people look to hold cash on their hand and that could lead to liquidation of cryptocurrencies (along with stocks and other assets).

The recovery of cryptos and broader markets will depend on what happens on November 5th week.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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Transforming Data Center Infrastructure With Blockchain

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Blockchain Infrastructure

Cryptocurrency – just hearing the name – can spark discussion topics on how innovative and controversial it is. However, nowadays, there seems to be a consensus that blockchain – the technological backbone of every form of cryptocurrency – is the former. The latter part of the discussion comes from the fact that cryptocurrency is still new, and needs more improvement, before it can actually be considered a wildly-accepted type of commercial (public) currency.

On the bright side, companies like Google and Goldman Sachs have already started to invest in various blockchain firms. And, it’s expected that sometime in the future, more big-name companies will follow suit, if cryptocurrency succeeds. Therefore, data centers and cloud hosting services must be ready to serve these new blockchain-based companies, as well as their needs, in the coming years.

So, you may be wondering: How did we get here? 

How Did It Start?

Modern blockchain started in 2008 with Bitcoin, which is a peer-to-peer Electronic Cash System. This white paper was a form of cryptocurrency that could live on a distributed network without any centralized authority; and blockchain is the technical backbone of that system, or a distributed digital ledger or database for it. No central authority will be able to manipulate the blockchain, since the whole network contributes to its creation and maintenance.

How It Works

In blockchain, two parties will make a transaction, to which they advertise it to the network. Then, various network nodes pick up multiple transactions, and arrange them into blocks. Afterwards, miners will use computers to add this block to the ledger (or blockchain).

Now, in order to add these blocks to the blockchain, the task requires a lot of computing power. Why? Because each of these blocks come with a sort of attached mathematical puzzle. And, to solve these puzzles, they need computing resources. But don’t worry: these puzzles are what miners are interested in, because they’re usually rewarded with tokens, just for adding a block to the blockchain.

Before the existence of blockchain though, business transaction would’ve been made through a trusted third-party company (i.e. a bank or a government institution), in order to guarantee the integrity of a transaction between two parties. However, blockchain eliminates that need by opening up the possibility for business transactions between parties worldwide, without the need for any financial or government institutions to step in. 

What Blockchain Means For GPUs

The need for blockchain means elevated demand for graphical processing units (or GPUs). As blockchain calculates, miners will have to provide enough computing power for it. And, as cryptocurrencies and blockchain-based applications become more popular, the higher the demand for computing power. That’s where GPUs come in, since blockchain-based calculations are best performed on these units. 

Data centers and cloud-hosting services will also have to look into AMD and NVIDIA graphics cards, in order to better serve the blockchain market; however, these graphics cards can be pricey. And, they’ll have to better optimize their infrastructure to be GPU-compatible.

Concerns?

The most controversy that cryptocurrency has faced is its vulnerability to possible hacking schemes. One can argue that there are major concerns about blockchain hackers taking – or planning to take – advantage of the fact that cryptocurrency doesn’t have enough protection yet to sustain itself, in case of a security breach that can cost millions.

Concerns on cybersecurity for data centers, in that case, seems to have spawned from cryptocurrency market’s promise of immense riches and overnight successes, to where anyone – including bad actors and hackers – will create an ever-growing threat in the cyber realm.

“One example of hacking of cryptocurrency was in January of 2018, when hackers were able to steal more than $500 million (or £380 million) worth of cryptocurrency from the Tokyo-based cryptocurrency exchange Coincheck,” adds Barnard. “Thus, that story, to this day, serves as a warning to what can happen, if cryptocurrency is unchecked. And, this story has many people concerned about whether cryptocurrency is safe to invest in or not.”

Conclusion

As you can see, data centers will have to go above and beyond to better accommodate the growing trend of cryptocurrency. And, to do so, they’ll need a good functioning digital infrastructure, to handle blockchain systems and increasing data processing demands.

This need for the right data center infrastructure is also increasing, since blockchain is expected to greatly impact the following:

  • Finance
  • Healthcare
  • Government
  • Transportation
  • Manufacturing
  • Medicine
  • Logistics
  • Other various industries 

Thus, it’s absolutely necessary for data center service providers to stay competitive, when it comes to such changes in technology, including blockchain. Ultimately, with an up-to-date infrastructure for blockchain to work on, data centers will be able to be sustainable, regardless of any changes and or developments made in the tech world for many years to come.

Author’s Bio: Katherine Rundell is a writer and editor at UK Writings and Academized. In her spare time, she likes to travel to different states, give special talks in various business training courses, read her favorite books (ranging in different genres).

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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5 Best Crypto Movies To Learn Crypto From

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Crypto Movies

Bitcoin has been around for 10 years. As a result, there are many people who will keep tabs on it and cheer for its modern successes. So today, we want to celebrate along with crypto fans by bringing you a fun article about the topic.

If you thought that cryptocurrency is all business, business, business – well, in actuality, crypto has also made its way into cinema. Yes, in this article, we’ll show you the 5 best movies that involve Bitcoin, crypto, and blockchain. And, the good news is, you don’t have to read really long articles that talk about crypto, when you can watch a fun movie instead!

So if you want to gain a bigger understanding on what Bitcoin is, and why it’s so important in today’s world… or if you want to educate others on why Bitcoin is NOT something out of a science fiction movie (no pun intended), then check out these 5 great movies.

Cryptopia: Bitcoin, Blockchains And The Future Of The Internet (2020)

Cryptopia Bitcoin Blockchains and the Future of the InternetCryptopia is an ideal film for novice cryptocurrency people. So, if you’re a newbie in the crypto world, or want to brush up on your crypto skills, then check out this documentary. 

This film is a deep-dive into the crypto world, and it doesn’t shy away from explaining the good things about crypto, as well as the negative parts of it. Yes, crypto can be both a Godsend and a curse, depending on how you look at the narratives you’ll listen you in the documentary. In hindsight, the movie will explore the story of bitcoin, and how it has managed to evolve through the years with its ongoing promises that crypto is “the future.”

So, whether you’re a skeptic, or you want to learn more about crypto, you’ll get to see both sides of the debate – as a better alternative to regular currency in the future, or a financial disaster in the making. Either way, this documentary will answer any questions that you might have about crypto.

The Rise And Rise Of Bitcoin (2014)

The Rise and Rise of BitcoinEver wondered how cryptocurrency became a thing? Then check out The Rise and Rise of Bitcoin! The film covers the stories of some of the early adopters of Bitcoin, including Gavin Andresen who was famous for communicating directly with Satoshi Nakamoto to help him create better technology. (By the way, Nakamoto is mostly famous for authoring the Bitcoin white paper, and for devising the first blockchain database.

Overall, this movie was one of the major productions to cover the main points, in regards to how Bitcoin and its assets were created to begin with.

The Second Target (2019)

The Second TargetThe Second Target was written by Graham Holliday, and stars Athen Walton. The movie follows a group of local crypto thieves now having their eyes set on their latest target. They kidnap a detective they think is on their case, but end up kidnapping the wrong guy. To make matters worse, the son of the kidnapped man teams up with a stranger, and they plot to stop the thieves’ second heist and save the kidnapped man.

While you’ll be immersed in the action, you’ll be learning the basics of what crypto is.

Trust Machine: The Story Of Blockchain (2018)

Trust Machine understands that almost a decade has passed, since the crypto world has transformed things. Since its existence came to be, many different cryptocurrencies have been created, with a small percentage of them expected to stand the test of time after the dust settles. While some people are still skeptical about the concept of cryptocurrencies, there are some parts of the world where people actually use cryptocurrencies as a way to buy things. However, other places have faced significant problems, as a result of exchanging goods with crypto within the industry.

Crypto (2019)

Crypto MovieCrypto, despite its panning from critics, has garnered somewhat of a fanbase. With a stellar star cast like Alexis Bledel, Luke Hemsworth, and Jeremie Harris, it’s hard to not see this movie. And, with a thriving fanbase, this movie is not only for movie fans, but also for crypto fans. 

The story follows an anti-money laundering agent (Beau Knaff) who reunites with an old friend who’s now into mining cryptocurrency. Now, with a potato farm being on the verge of being repossessed, the two soon investigate a gallery, which may be tied into a multi-million-dollar money laundering scheme. 

It’s action-packed, and it has you cheering for the protagonists as you follow the story from beginning to end.

BONUS: Throwback Movie – Inside Job (2010)

Now, while the film doesn’t directly involve Bitcoin or blockchain, it’s a good appetizer for learning what they are. And, it’s a must-watch!

Inside Job covers the actions that made Bitcoin a household name in the first place. The movie sells the concept as a type of currency that can’t be manipulated, controlled, or corrupted by any government. 

However, the main topic of the documentary involves the late-2000s financial crisis. In 5 parts, the film will cover how changes in the policy environment and banking practices only added more fuel to the fire, rather than stop the crisis in its tracks. 

Critically acclaimed, and winning an Academy Award for Best Documentary, Inside Job will have you on the edge of your seat, as it takes you through the financial crash. All information in this documentary, as well as its controversial topic, are understandable for most audiences, regardless if you know about cryptocurrency or not. 

Conclusion

So, there you have it! That was our list of movies to check out, if you’re in the mood for learning about cryptocurrency. If you want to go down the rabbit hole about the topic, or if you’re in the mood for something different than your usual shows and movies, then head over to Netflix, online, or anywhere where movies are sold, and check out our picks on the best movies about crypto.

We hoped you enjoyed our list, and made it a movie night tonight! As you’ll see in these selected films, they’ll show you how cryptocurrency has changed people’s lives in so many ways than one, and has no plans of stopping. So, get out your popcorn, and take some good notes about crypto! 

Author Bio:

Kristin Herman is a writer and editor at Best essay writers. As a marketing writer, she blogs about the latest trends in digital marketing. In her spare time, she coaches up-and-coming marketers on how to perfect their advertising practices in the ever-evolving market.

For movie crypto movies: Crypto Movie Database

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Cryptocurrency Market Wrap

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Crypto news

Cryptocurrency news

Bitcoin hits a new all-time high.

Bitcoin just hit a new all-time high, surpassing the last all-time high of $19,783.21 on Dec. 18, 2017.

According to coingecko Bitcoin hit $19,860 on Nov 30, 2020.


Bitcoin’s attracts Mainstream media

As bitcoin hits its new all-time high, the mainstream media, The New York Times steps forward to cover the news and calls this time the rise is very less of a bubble this time around.


Bitfinex hackers move 5000 BTC in the midst of new highs

The hackers of Bitfinex who stole 119,756 BTC back in August 2016 have just moved 5045 BTC, worth $97 Million, to various addresses as the bitcoin prices reach all-time high since 2017.

A total of 14 transactions were sent as caught by btcparser.com


Venezuelan army turns to Bitcoin mining operations to overcome the country’s failing economy.

“Digital Assets Production Center of the Bolivarian Army of Venezuela” was inaugurated by the Venezuelan army.


No power supply to crypto miners in Yunnan province.

According to the Chinese crypto reporter Colin Wu, most of the miners have reported  that the authorities have passed the orders to shut the power being supplied to the Crypto Miners in Yunnan, which happens to be the third largest mining province in china.


Winklevoss twins on CNBC said that bitcoin is Gold 2.0, and it could disrupt gold.  When BTC reaches Gold’s market cap of $9 trillion each BTC will be worth $500,000.


Michael Sonnenshein, managing partner at Grayscale, says many public companies are adding bitcoin to their balance sheet.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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