Category: Economy

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Crypto Economy News

Marshall Islands Ditched The US Dollar To Adopt Sovereign (SOV) Cryptocurrency

The sovereign country of the Marshall Islands has decided to ditch the US Dollar as its official currency and adopt the Sovereign (SOV) cryptocurrency, a crypto coin created by the Island’s inhabitants that promises, among other things, to be a more secure and efficient way of conducting transactions than the USD. Definitely, this a historical decision, as Marshall Island is now the first country in the world to choose an official cryptocurrency over a fiat currency.

The Marshall Islands chose its own Sovereign cryptocurrency over the USD

The proposal was made in February 2018 and was made official just one month later, in March.

However, this has come back in the news these days, once again, due to the implication this movement has for international banking systems which normally point to the lack of support from an international authority as the reason for criticising or not accepting cryptocurrency.

The Marshall Islands’ decision to ditch the United States Dollar and adopt its own Sovereign (SOV) cryptocurrency drew the attention of cryptocurrencies market investors and the crypto-related publications who used Twitter to draw more attention to the event.

At the moment of this article, the Sovereign (SOV) cryptocurrency is in full process of implementation which will commence with an ICO (Initial Coin Offering).

Cryptocurrencies are still frequently undermined by international banking systems and governments

This follows multiple international attempts to lower the profile of cryptocurrencies, including an executive order from U.S. President Donald Trump to veto investments in Venezuelan Petro cryptocurrency, as well as the problems in regulating these digital assets in countries like Chile.

In certain territories such as Germany and Japan, cryptocurrencies are accepted and considered under the law, although there are still problems in places like Venezuela, where the state seeks to dominate with its own currency called Petro, or China, where crypto coins are still seen as competing for the country’s traditional money.

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Crypto Economy Finance News Personal Finance

Essential Crypto Trading Strategies to Avoid Bankruptcy

Investing in cryptocurrencies is a risky business and there’s no doubt about that. Just take for example how the crypto market unexpectedly crashed when 2018 started. Nonetheless, today we are going to present the three essential crypto trading guidelines that are going to help every new investor get a better understanding of what they should and shouldn’t do. With that being said, let’s get into it!

Follow Bitcoin

Even though new investors might not want to invest in Bitcoin because the buy-in is quite expensive, this doesn’t mean that Bitcoin should be discarded. Closely following Bitcoin is the best thing that new investors can do because its price usually dictates how the market goes.

For example, if Bitcoin price is pumping then altcoins price is highly likely to go down because investors are going to sell their altcoins and start purchasing Bitcoin instead. In addition, history shows that whenever Bitcoin goes up, the entire crypto market starts moving.

Don’t Invest All Your Money

The most important tip that we can give new investors is to never invest more than they can afford to lose. As previously mentioned, the crypto market crashed in January 2018 and this caused many investors to go bankrupt, especially since the prices were higher than usual at the end of 2017. Also, investing a smaller sum makes it easier to not get FUD (Fear, uncertainty and doubt) whenever an altcoin dips.

The Long Run

While there might be tens of stories about people who invested a couple hundred dollars at the right time and became millionaires overnight, this is highly unlikely to happen nowadays. Prices go up and down every day because the crypto market is highly volatile and predicting when that happens is nearly impossible. Therefore, we advised new investors to look at the long run and only invest in cryptocurrencies that they believe in.

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Economy News Tech

ShowBox Update – Save Money Using It

Money can easily be saved using the popular Android app, Showbox. This lets you watch the latest movies and shows from TV. The best news is that all is for free. No subscription. No monthly rate. Be free to spend the money on whatever you want, while being informed about this entertainments. All you have to do is downloading the app on your tablet or phone that runs Android and then, just have fun!

What about the safety of the user?

Until now, Showbox was found to be safer than other contents taken from the Internet. And that’s because the information is taken just from one source. The legal terms are also observed. The user is free to watch movies for himself and a little group, but not for the entire school or place of work. The download is not possible. The content can only be seen. That is how you avoid stealing.

The app cannot be downloaded, as usual from the Google Play Store. But, this “little thing” leads to some questions, like: Is it safe? Why should I turn on “Unknown Sources”? So, it’s somehow dangerous, even if it’s free.

Some more details

Google did not test the application to find out the risk of viruses, because it doesn’t make part of the Store. In other words, there is no insurance for this app. Not all of the applications go through these tests and are viruses-free, but the chances increase when they are not verified at all.

Although, the law did not obey the use of ShowBox and that’s the best point, the risk of using it is very high, because of the unverified source of downloading. Simply installing the app can be dangerous for the phone. To decrease the risk, the phone can be checked often from malware and the app can be taken from a trusty source.

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Crypto Economy

Bitcoin (BTC) Trading Attracts George Soros, The Rockefeller Family, And The Rothchild Family

After the strong correction of more than 60% experienced by the Bitcoin (BTC) cryptocurrency since its peak during last December, the time has come for the big sharks to join the frenzy. At least three of the most prominent members of the financial “royalty” believe in Bitcoin’s rise, as, in recent days, news emerged that George Soros, the Rockefeller family, and the Rothschilds are ready to make big investments in Bitcoin (BTC).

George Soros changed his mind in just three months

This news comes just three months after Soros himself described Bitcoin (BTC) as a bubble.

Now, Bloomberg revealed that Adam Fisher, the manager of the global macro investments of the Soros’ funds, has received authorization to trade cryptocurrencies but has not yet made any investments, according to the sources.

Also, the Rockefeller family would have plans to get on the wave of cryptocurrencies

As published by CoinTelegraph, the Rockefeller family’s venture capital fund, Venrock, has partnered with the CoinFund platform to not miss the boom of both cryptocurrency and the blockchain technology itself.

In this sense, David Pakman, partner of Venrock, told for Fortune that they are “very patient, (…) long investors and (…) wonder what will happen in the next five to ten years.”

The Rothchild family is buying Bitcoin (BTC) since the last year

In this way, both George Soros and Rockefeller follow the steps that the Rothchild family took last year when they decided to enter in the cryptocurrency investments world by buying Bitcoin (BTC) through the Grayscale Bitcoin Trust, according to their annual report.

Thus, it seems that the elites of the finances universe begin to believe that the cryptocurrencies market problems have passed after the strong correction experienced since December. In fact, Bitcoin (BTC) is a cryptocurrency par excellence, which is now trading above $6,800, while right before last Christmas it was touching the $20,000 mark after its debut in the futures market in Chicago.

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Economy News

Guggenheim Restates Shares Rating for Michael Cos.

On Wednesday, the research analysts at Guggenheim issued a research note that reiterates the ‘buy’ rating for Michael Cos. (NASDAQ:MIK). Currently, these have a $30 target price on the stock, which is lower than the previous price of $33. The price target set by Guggenheim shows a possible upside of 26.26% from the previous close of the company.

More Comments on MIK

However, there were many other research firms that had recently commented on MIK. For example, SunTrust Banks Inc. also restated a ‘buy’ rating on the Michael Cos. Shares in August. Back on October 26th, Zacks Investment Research also downgraded MIK from the ‘hold’ to ‘sell’ rating. At the same time, the Telsey Advisory Group cut the price objective from $28 to $27. Even more so, they had set a ‘market perform’ rating on the stock in the report they issued on Wednesday.

Moreover, the Bank of America Corp. downgraded Michael Cos., switching from a ‘buy’ rating to a ‘neutral’ one in the report they issued back on November 4th. Credit Suisse Group upgraded them from ‘neutral’ to ‘outperform’ and decided on a $29 price objective on the stock back in September. Now, the company has the average rating of ‘hold’ and the consensus price target reached $29.55.

More Information about the Michael Cos. Situation

In other news, EVP Philo Pappas managed to sell 1,152 shares of this stock in a transaction back on December 2nd. The stock had been sold at the time for an average price of $23.92, and the transaction totaled $27,555.84. The sale was made official in a legal filing with the SEC, which you can find on the SEC website. What’s more, there are several hedge funds, as well as other institutional investors that have modified their holdings of MIK. It remains to be seen how things will evolve for Michael Cos. and how many people will be more interested in their shares.

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