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0:00 – 32 Ethereum Elite Club
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Cryptocurrency mining software is the method used to create new cryptocurrency and add components to an existing blockchain. Once mined, new cryptocurrency is validated and belongs to the mining party as a reward for contributing to the blockchain. Cryptocurrency mining technology utilizes the processing power of a computer’s graphics processing unit (GPU) to assist in finding blocks. Most mining today is done through a mining pool, which shares resources over a network and distributes the reward.

Cryptocurrency mining software utilize the processing power of site visitors or application users. Other tools dedicate local server resources to mining pools. Companies can use these tools to generate cryptocurrency of their own.

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Earlier this week Bitcoin ( BTC ) bulls and crypto investors were thrilled by the news that MicroStrategy, a Nasdaq-listed business intelligence company worth $1.2 billion, had formally adopted Bitcoin as its primary reserve asset by purchasing 21,454 BTC ($250 million). This led the majority of top crypto analysts and industry folk to post uber-bullish statements on Twitter and for many this confirmed their belief that Bitcoin is in the early stages of a bull market. While this news is exciting and a strong sign that institutional adoption of cryptocurrency continues to occur, there is even better news. BlackRock, the $89 billion investment giant, is the biggest shareholder of MicroStrategy. According to data from CNN Business, BlackRock Fund Advisors hold a 15.24% stake in MicroStrategy. This means MicroStrategy’s recent purchase gives BlackRock indirect exposure to Bitcoin, the company has essentially turned itself into a “ publicly-traded Bitcoin play. ”MicroStrategy has BlackRock as its biggest stakeholder. Source: CNN BusinessIn an official statement, MicroStrategy said it was adopting Bitcoin as a “primary treasury reserve asset.” and CEO Michael J. Saylor acknowledged  that Bitcoin could potentially be superior to cash.“Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.”The purchase becomes even more interesting when considering the previous comments both Saylor and BlackRock strategists made about Bitcoin. In February 2018 conversation with CNBC, BlackRock’s global chief investment strategist Richard Turnill said :”We see cryptocurrencies potentially becoming more widely used in the future as the markets mature. Yet for now, we believe they should only be considered by those who can stomach potentially complete losses.”At the time, Turnill laid out some factors that could help buoy Bitcoin in the long-term. He also emphasized that a global regulatory framework on cryptocurrencies could potentially aid the growth of crypto assets. Since then, the Financial Action Task Force (FATF) under the G7 established a unified cryptocurrency regulatory framework. Most major countries across Asia, Europe, and the U. S. also adopted clearer policies regarding cryptocurrencies. Saylor, who this week expressed his optimism about the long-term trajectory of Bitcoin had an even more critical perspective in 2013 when he said :“Bitcoin’s days are numbered.  It seems like just a matter of time before it suffers the same fate as online gambling.”Companies that previously rejected Bitcoin are now beginning to warm up to cryptocurrencies. For example, JPMorgan reportedly accepted Bitcoin exchanges Coinbase and Gemini as clients in May. Changpeng Zhao, the CEO of Binance, said :“Smart publicly listed company buys $250,000,000 worth of bitcoin, as a safe haven asset. Stimulus money flowing from Wall Street into bitcoin. Are you in front or behind them?”This shifting trend in the cryptocurrency industry highlights the increasing maturity of Bitcoin and its growth as a store of value.

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/blackrock-vanguard-indirectly-hold-bitcoin-via-microstrategy-investment

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Cyprus, a major international business center and tax haven, is warning investors against several suspicious websites offering foreign exchange and digital currency investment. The Cyprus Securities and Exchange Commission issued a warning against seven firms that have apparently been operating illegally. Published by the CySEC on Aug. 6, the warning document says that none of the listed companies belong to an entity that has been granted approval for providing investment services. The list notes fxg.market, 247firstinvest.com, keyoncapital.com, procloudoptions.online, cryptotradecentr.com, fxgrowcapital.com, and meritkapital.net. One of the blacklisted websites, cryptotradecentr.com, positions itself as a multinational fintech company providing a wide range of trading services. The allegedly fraudulent firm offers trading of forex and contract for differences on shares, indices, commodities, as well as cryptocurrencies on its main page as of publishing. Claiming to be headquartered in Australia and Luxembourg, Crypto Trade Center says that it is licensed and regulated by the Commission de Surveillance du Secteur Financier, a major financial regulator in Luxembourg. The CySEC has been actively monitoring global investment services to protect investors from fraudulent offerings. In May 2020, the authority blacklisted another bunch of crypto and forex exchange-related websites including a company known as “Binance Capital Options.”According to online reports , Binance Capital Options has no connection with the world’s largest crypto exchange, Binance . Instead, the firm was a clone website scam that aimed to defraud investors using corporate details of a legit company. On its website , Binance Capital Options still claims to be regulated by the CySEC.

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/cyprus-sec-blacklists-7-investment-and-crypto-related-websites

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Bitcoin & Cryptocurrencies Are Surging – But Are They A Good Investment – Coffee With Markus | Episode 77

Join me live this upcoming Monday, August 10th for special discussion on Bitcoin & Cryptocurrencies. Over the last few weeks, Bitcoin and other cryptocurrencies are surging.

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Well that’s exactly what I plan to do a deep dive on live at 2:30 pm Central this Monday.

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For one, shares of GBTC are qualified to be held in certain Individual Retirement Account, Roth IRA, and other brokerage and investor accountsallowing easy access for all levels of financiers in a wide range of accounts. Investors are offered with an item that tracks the value of one-tenth of a Bitcoin. As an example, if the worth of bitcoin is$ 1,000, each share of GBTC must have a net possession worth of$ 100. In reality, investors are

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As investors navigate periods of market volatility, they are increasingly looking to uncorrelated assets like digital currencies to diversify their portfolios. This, combined with demographic changes that will see more than $68 trillion of wealth transferred from older to younger generations over the next 25 years in the U.S. alone, means that more than ever, advisors must tune in to their clients’ shifting investment preferences. Interestingly, studies have shown those shifting preferences include an interest in
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Disclaimer: This content is NOT to be considered as financial advice, legal advice or taxation advice of any kind. All content is purely for educational purposes and reflect the speaker(s) personal opinions only (which may or may not be correct). Cryptocurrency is HIGHLY volatile and a very high-risk investment. Please do your own research before investing into cryptocurrency and never invest more than you can afford to lose. You should at all times consult a financial advisor before making any investment decisions.

Trading & investing in cryptocurrency carries a high level of risk and may not be suitable for all investors. The high degree of leverage and the lack of regulation in the market can work against you as well as for you. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss in excess of your initial investment. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor if you have any doubts.

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