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Feb 11 2021

Personal Finance Survey Reveals that 67% of Individuals Trust Robots More than Humans to Manage their Investments

We’ve been trusting robots to manage money more than we “trust” ourselves, according to a recent study from Oracle and personal finance specialist Farnoosh Torabi. The global survey of over 9,000 individuals across 14 different countries revealed that the COVID-19 pandemic has “increased finance-related stress at home and in business, and people around the world are looking to AI for help.”

The Oracle study found that financial anxiety and sadness among individual consumers and business owners or leaders “more than doubled (increased by 103%) in 2020.” Notably, the study revealed that 67% of people “trust robots more than humans to manage finance.”

Around 85% of survey respondents “believe robots will replace finance professionals and 46% believe it will happen in the next five years.” Around 85% of business leaders “want help from robots for finance-related tasks.”

People are also “rethinking the role and focus of corporate finance teams and personal financial advisors,” according to the research.

Other notable results from the survey include:

  • Consumers want personal financial advisors “to provide guidance on major purchasing decisions such as buying a house (45%); buying a car (41%); and planning for retirement (38 percent).”
  • 60% of consumers “say the pandemic has changed the way they buy goods and services.”
  • 72% of consumers “say the events of 2020 have changed how they feel about handling cash, with people feeling anxious (26%); fearful (23%); and dirty (19%). More than a quarter (29%) of consumers now say that cash-only is a deal-breaker for doing business”.
  • Businesses have been “quick to respond as 69% of business leaders have invested in digital payment capabilities and 64% have created new forms of customer engagement or changed their business models in response to COVID-19”.
  • 51% of organizations are “already using AI to manage financial processes, compared with 27% of consumers”.
  • 87% of business leaders “say organizations that don’t rethink financial processes face risks, including falling behind competitors (44%); more stressed workers (36%); inaccurate reporting (36%); and reduced employee productivity (35%)”.

As noted in the update shared with CI, managing finances can be challenging during the best of times, and the financial “uncertainty” due to the COVID-19 pandemic has further exacerbated financial challenges at home and at work, according to Farnoosh Torabi, personal finance expert and host of the So Money podcast.

Torabi added:

“Robots are well-positioned to assist – they are great with numbers and don’t have the same emotional connection with money. This doesn’t mean finance professionals are going away or being replaced entirely, but the research suggests they should focus on developing additional soft skills as their role evolves.”

Research Methodology

Research findings are “based on a survey conducted by Savanta, Inc. between November 10 – December 8, 2020 with 9,001 global respondents from 14 countries (United States, United Kingdom, Germany, Netherlands, France, China, India, Australia, Brazil, Japan, United Arab Emirates, Singapore, Mexico and Saudi Arabia)”. The survey “explored attitudes and behaviors of consumers and business leaders towards money, finances, budgets, and the role and expectations of artificial intelligence (AI) and robots in financial tasks and management.”

Juergen Lindner, SVP, Global Marketing, Oracle, remarked:

“Financial processes in our personal and professional worlds have become increasingly digital for many years and the events of 2020 have accelerated that trend. Digital is the new normal and technologies such as artificial intelligence and chatbots play a vital role in managing finance. Our research indicates that consumers trust these technologies to accelerate their financial well-being over personal financial advisors and business leaders see this trend reshaping the role of corporate finance professionals. Organizations that don’t embrace these changes risk falling behind their peers and competitors; hurting employee productivity, morale and well-being; and struggling to attract the next generation of AI-empowered finance talent.”

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Feb 09 2021

2021: Looking Ahead

A lot of ink has been spilled about 2020 — about its rolling disasters and general upheaval. But here, in this post, we don’t want to dwell on the negative. We want to talk about the positives that happened in 2020, and share our excitement for the year ahead. A lot of awesome stuff happened last year in the world of crowdfunding. Backers funded innovative campaigns, Indiegogo launched sweeping initiatives, and the crowdfunding community learned some key lessons that we can expand on in 2021. 

In this post, we round up last year’s top campaigns, discuss the takeaways we’re building on as we look ahead to 2021, and recap the initiatives that Indiegogo set in motion last year.

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Top 10 Campaigns of 2020

10. Amazfit Curved Smartwatch

$2.2M raised
12,041 backers
Beijing, China

This smartwatch has a curved screen and tracks vitals 24/7, using tech to improve health.

9. STRØM CITY W

$2.3M raised
3,291 backers
Copenhagen, Denmark

A stylish eBike made especially for women, created in the biking capital of the world.

8. Monster X

$2.3M raised
3,779 backers
Kowloon, Hong Kong

This generator is powerful enough to let you set up a TV or PS4 in your backyard.

7. ElecHive

$2.8M raised
2,453 backers
San Diego, United States

The ElecHive’s battery can provide a massive 2,200W of power output, just like a standard wall socket.

6. Stoggles

$3M raised
60,753 backers
Los Angeles, United States

Stoggles offer similar eye protection to full goggles but with style, shielding eyes from dirty fingers and airborne droplets.

5. GPD WIN Max

$3.M raised
4,356 backers
Shenzhen, China

GPD WIN Max combines the portability of a handheld gaming console with the graphics of a gaming laptop.

4. Reevo

$3.6M raised
1,777 backeers
Delaware, United States

This hubless design puts an emphasis on style, making it the perfect eBike for a discerning rider. 

3. Bluetti AC200 Solar Power Station

$7.5M raised
7,030 backers
Denver, CO

This power station uses solar energy to put out a colossal 2,000 watts of continuous power.

2. Superstrata Bike

$10.3M raised
3,853 backers
San Francisco, United States

Each Superstrata bike frame is 3D-printed with carbon fiber to give the user a custom fit. 

1. Babymaker

$14.8M raised
8,731 backers
San Diego, CA, United States

This eBike was the runaway (or bike-away?) hit of 2020, thanks to its sleek, lightweight design.

Five takeaways from 2021

Backers and campaigners are hungry for community and connection

Community is what differentiates crowdfunding: It’s the backbone of everything that happens at Indiegogo. So it was no surprise to find that, in a year when people were feeling isolated, backers chose to not just fund campaigns — they also chose to engage with the communities that are built amongst a campaign’s supporters. Nearly 50,000 backers came to our Facebook Virtual Hangouts, attending events like an unboxing and Q+A with Chase Reeves from Pakt, and roundtables for female entrepreneurs and Indiegogo community favorites. And 2.1 million people tuned into Instagram takeovers, where we gave fan favorite campaigners the keys to our Instagram for a few days to communicate directly with our social audience, sharing exclusive stories and content. Backers also shared tips and tricks on campaign pages: Productivity products alone garnered 50,000 comments as backers discussed their favorite life hacks and offered each other encouragement as they advanced towards their goals, and backers attended live Q+As with creators of productivity-enhancing products like this one with the creators of Midea and this one with Arrow and TimeChi. 

Backers are more interested in green campaigns

Crowdfunding has always been an ideal place for entrepreneurs to raise funds for products that can help save the planet. And as more and more people look to make the transition to greener lifestyles, support for green campaigns grew nearly 900% in 2020, as compared to the previous year. Backers are seeking out everything from plastic-free cleaning products to solar panels to portable bidets to help put the planet first. Solar-powered batteries were particularly popular, with power stations like Monster X and Bluetti bringing in millions of donations from backers looking to get off the grid and lower their carbon footprint. In fact, green energy campaigns raised a total of $16.7M in 2020. eBikes also got a lot of love in 2020, as backers looked to ditch their cars and find greener ways to get around. Electric bicycles like Reevo, Superstrata, Babymaker and MATE  raised a whopping $24M combined. And, of course, it wouldn’t be crowdfunding if backers weren’t also connecting with the creators of their favorite campaigns. Indiegogo community members attended events like an Instagram Live with QuenchSea, an Instagram Takeover with One Bottle founder Petrice Jones, and a Virtual Hangout on Facebook with ETEE. 

Crowdfunding helps underrepresented entrepreneurs achieve their dreams

2020 was a year of reckoning for many industries, as they struggled to overcome their racially homogenous makeup and move forward towards a brighter and more equitable future. Crowdfunding has long been a path for diverse voices to circumvent venture capital firms and other traditional investment avenues, which still give the majority of their money to white men. In 2020, Black female campaigners launched children’s books like The Mermaid Princesses, the Parisian concept store Little Africa, the eco-conscious perfume company Scents and Style, the digital archive of womxn in hip hop The Keeper, and so much more. 

Backers come to crowdfunding for global connection

One of our favorite things about crowdfunding is that it lets backers meet and support entrepreneurs from all over the globe. Last year, Indiegogo expanded its reach to Japan, offering resources to Japanese entrepreneurs and allowing Japanese backers to donate to campaigns using Japanese yen. Our new Made in Japan category is off to a great start, with $6M raised amongst 13,000 backers. And with our new partnership with Makuake, the leading pre-order and support platform in Japan, backers can expect to see even more exciting things to come. In 2020, Indiegogo continued expansion into China, helping Chinese brands reach international audiences through crowdfunding.

Games are having a moment

Indie game creators flock to Indiegogo to turn their intricate and creative concepts into games that people can enjoy with their friends in real life, dice and cards and all. And with the pandemic trapping everyone indoors, people found themselves playing tabletop games like never before. With their interest in gaming piqued, 35,000 backers supported up and coming game designers in 2020, resulting in more than a 200% increase in funds raised for tabletop games compared to 2019. One notable standout has been Queeng, a deck of playing cards designed by a 12-year-old girl that raised over $500k. But it wasn’t just tabletop games that had a good year on Indiegogo: Digital games also had a great showing in 2020. The GPD WIN Max console made the 2020 top ten, raising $3.4M and creative approaches to gaming like Polycade gained a following.

Five Initiatives We Launched in 2020

Commitment to uplifting marginalized and underrepresented groups

We’ve been asking ourselves hard questions about how we can do more to foster a diverse and inclusive landscape. In 2020, we launched the Indiegogo Fellowship Program, a six-week course that guides campaigners in running a successful crowdfunding campaign from beginning to end. The Fellowship Program aims to provide guidance and resources to creators from communities that are typically marginalized in tech and innovation, and focuses on helping female-identifying, BIPOC, and LGBTQIA+ entrepreneurs. We also established Juneteenth as a company-wide holiday last year. Indiegogo has been publishing an annual diversity report since 2014 and while we still have tons of work to do, our 2020 report reveals that our internal initiatives have been progressing diversity and inclusion at Indiegogo over the last half a decade.

Local business relief program

2020 was a turbulent year for small businesses, with lockdowns pummeling the local establishments that make up our communities. Last year we launched the Local Business Relief Program, which waived Indiegogo’s platform fees for local businesses, like restaurants and theaters, that operate in the service industry. These businesses launched Indiegogo campaigns to raise money to stay afloat and pay staff until quarantines were lifted. Through this program, local businesses like Fitdog Doggy Daycare in Santa Monica, Baker’s in Seattle, WA, Terrapin Crossroads in San Rafael, CA, and the oldest operating bar west of the Mississippi, Shooting Star Saloon in Huntsville, Utah, were able to raise extra funds to get through the pandemic.

Global launches

Brands often face headwinds when expanding into the global market, whether it’s a language barrier, shifting consumer needs, or cultural differences. Last year, Indiegogo expanded the Global Fast Track program to Japan. The program helps the world’s top innovative products launch in international markets. We partnered with the Japan External Trade Organization (JETRO), and with Makuake, the leading pre-order and support platform in Japan, to give entrepreneurs additional support for launching successful crowdfunding campaigns. Lu Li, the general manager of global strategy at Indiegogo, has been spearheading international efforts, helping entrepreneurs raise more than $260 million in funds. Her dedication and expertise in global crowdfunding has landed her on the 2021 Forbes 30 Under 30 List. Our global expansion wasn’t just limited to Japan: We built out additional tools for our Global Fast Track Program in China like an official WeChat account and informative webinars like our presentations with Facebook and Shopify. 

Support for causes that matter

On Giving Tuesday, Indiegogo launched Tips for Indiegogo, a feature that gives backers the option to add a tip for Indiegogo to their contribution during checkout. Indiegogo matches the money given through Tips and donates to causes that are important to the Indiegogo community. Tips for Indiegogo are optional, but if you find yourself in a giving mood, just look for the “add a tip” call-out on Indiegogo contribution pages! “Community has the power to accomplish some pretty incredible things. We see it every day in the campaigns you support, the causes you rally behind, and the projects you bring to life,” says Andy Yang, Indiegogo CEO. “Now we’ll be able to amplify the goodwill together, and make the world a better place while doing it.”

Partnerships

Entrepreneurs are most successful when they have some help along the way. We partner with companies that help entrepreneurs launch great campaigns and deliver perks to their backers. Those partnerships provide everything from one-on-one assistance to educational content to exclusive discounts.  In 2020, in-person events moved online, and Arrow, Easyship, and others shared their expertise on webinars about everything from managing supply chains to building medical technology with Analog Devices to Virtual Hangouts, connecting partners and the campaigns they’ve supported directly with the backer community. We helped entrepreneurs in our social community connect with specialists and gain access to new information and expert advice through articles and Q+As. We also welcomed Clearbanc to the Indiegogo family, and their marketing advances helped Reevo and Stoggles make the top ten list last year. Easyship worked with campaigns like the Philips PicoPix Max and the Stereogum Covers Compilation to ship products around the world. And as usual, the Arrow Certification Program helped tech entrepreneurs build viable, working products. The top five Arrow campaigns in 2020 were:

1. Reevo – $3.6M raised
2. NeoRythm – $1.6M raised
3. Tempest – $1.1M raised
4. SPLACH – $783K raised
5. GoSun – $514K raised

Explore our Experts Directory to learn more about our partners. 

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Feb 05 2021

Bitcoin is not a bubble anymore, Amber Group CEO says

A number of entities have called Bitcoin (BTC) a bubble since its inception roughly 12 years ago. Michael Wu, CEO of digital asset financial services outfit Amber Group, thinks otherwise, however. 

“I think it’s always like this when people come into a new paradigm shift,” Wu said in a CNBC interview on Thursday, referring to the concept of Bitcoin as a bubble. “People start with doubts, with skepticism — it’s very natural because they will have to take time to understand what’s new there, is it sustainable,” he said, adding:

“In the early stage, that kind of understanding, that kind of skepticism, always comes with a lot of price volatility. However, I don’t think you can call Bitcoin a bubble anymore, because, like I mentioned earlier, you have all these institutions, all these billionaires, multi multi-billion-dollar listed companies, all these, you know, all these newcomers into crypto. They’re buying Bitcoins, they’re buying crypto and there are only 21 million Bitcoins out there.”

References to large mainstream players buying Bitcoin has become much more common in recent months. Microstrategy allocated more than $1 billion to Bitcoin in 2020. MassMutual put $100 million into BTC sometime thereafter, and Square later came in as welwith $50 million.

Rationale for Bitcoin’s long-term price rise includes its limited supply matched with significant interest in the asset, Wu explained. “There will be price volatility, there will be short-term price corrections,” he added. “Sometimes these price corrections can be violent, but I think we’ve passed the stage of calling Bitcoin a bubble anymore.”

Wu also commented on BTC and its store of value role, similar to gold. Bitcoin has seen its fair share of comparisons against gold over the years. “The worst case scenario of Bitcoin is still a better form of gold,” he said.

On Wednesday, Wu’s company Amber Group announced that Annabelle Huang, one of the firm’s partners, had been given the task of furthering institutional and retail involvement. Amber Group “appointed partner, Annabelle Huang, to lead GlobalX Center, a strategic global expansion team established to grow the company’s institutional and retail product offerings in regions including South Korea, Japan, Hong Kong, Singapore, Taipei, North America and more,” said a statement provided to Cointelegraph.

Bitcoin is not a bubble anymore, Amber Group CEO says

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Written by bizbuildermike · Categorized: cryptocurrency · Tagged: 2020, Adoption, Billionaires, bitcoin, Bitcoin Price, bitcoins, btc, bubble, ceo, company, crypto, digital, digital asset, expansion, financial services, Global, gold, Hong Kong, interview, japan, Korea, MassMutual, Microstrategy, more, North America, Offerings, product, retail, said, Singapore, south-korea, square, sustainable, youtube

Jan 23 2021

Bitcoin in jeopardy, Ether briefly breaks records, Biden takes action: Hodler’s Digest, Jan. 17–23

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Three reasons Bitcoin tumbled below $30,000 in a surprise overnight correction

Intensifying sell pressure saw Bitcoin briefly plummet below $29,000 for the first time since Jan. 5. The fall from $37,000, which happened within 48 hours, resulted in the biggest daily candle ever.

There have been some signs of institutional investors taking profit, as bulls attempt to cement $32,000 as a new support level. Analysts at QCP Capital are seeing signs of “institutional exhaustion,” and they warned the rally could be in danger if appetite for BTC slows down.

Of course, some institutions are indefatigable… with MicroStrategy “buying the dip” and snapping up 314 BTC at an average cost of $31,808 — a total spend of $10 million.

Bitcoin has lost 14% of its value over the past seven days. But over this period, many major altcoins haven’t been suffering sell-offs to the same extent. Ether is down just 2.6% on the week, Polkadot is actually up 1.5%, and XRP has fallen by 5.6%.

BTC/USD is in a corrective phase since the rally became overextended above $40,000. The question now is when this will end. If the $30,000 area doesn’t hold, a further drop to $24,000 becomes likely — resulting in a retrace of 40% since recent highs.

Guggenheim CIO expects Bitcoin to drop to $20,000

Just a month ago, Guggenheim’s Scott Minerd was anticipating that $400,000 was in sight for Bitcoin. How times have changed.

Speaking to CNBC, Guggenheim’s chief investment officer argued that BTC is now poised to drop to $20,000 — and Bitcoin is unlikely to climb any higher than $42,000 until 2022.

He said: “I think for the time being, we probably put in the top for Bitcoin for the next year or so.”

ETH finally beats its 2018 all-time high, surpassing $1,428

It’s been a long time coming. This week, ETH finally reached new all-time highs against the dollar — surpassing $1,428 on Bitstamp. Unfortunately, the major altcoin didn’t spend much time in uncharted territory — falling as low as $1,050 in the days that followed.

Are Ether bulls now in trouble? Well, the large drop after the ATH has been linked to how the Ether futures market was extremely overheated, with open interest on ETH hitting a record high of $1.8 billion.

At one point, Vitalik Buterin’s main wallet saw the ETH in his wallet amount to over $470 million. That’s a stark contrast to Jan. 2020, when his ETH fortune stood at just $58 million.

Strategists at Fundstrat Global Advisors believe that 2021 could be a year to remember for ETH. According to its researchers, the second-largest cryptocurrency could climb more than sevenfold to $10,500.

President Biden freezes FinCEN’s proposed crypto wallet regulations

Joe Biden wasted little time in getting to work following his inauguration on Jan. 20. One of the first actions the new president took on his first day in office was to freeze the federal regulatory process — and this is good news for the crypto community.

The freeze means that the controversial regulations surrounding self-hosted crypto wallets, proposed by former Treasury Secretary Steven Mnuchin, are now on ice for 60 days.

Compound Finance’s general counsel Jake Chervinsky lauded the move, declaring: “We fought hard & earned the right to take a breath & reset. Janet Yellen isn’t Steve Mnuchin. I’m optimistic.”

It’s fair to say that Yellen isn’t wild about Bitcoin, though. During her confirmation hearing with the Senate Finance Committee, she stated that cryptocurrencies are being used “mainly for illicit financing” — and that she wanted to “curtail” their use. She later clarified that she only wanted to clamp down on cryptocurrencies being used illegally.

The former chair of the Federal Reserve is now one step closer to earning the nomination after the Senate Finance Committee voted unanimously in her favor, paving the way for a full Senate vote.

Ripple pins hopes on Biden administration as co-founder sells 28.6 million XRP

As it readies itself to face a lawsuit from the U.S. Securities and Exchange Commission, filed under Donald Trump’s administration, Ripple is hoping that Biden’s time in office will bring favorable changes in regulations.

Executives at the embattled company have predicted that Biden’s team will most likely “bring a renewed focus on regulation and enforcement in the crypto space.” The post said that fintech and blockchain players have been left “in a state of limbo” by the lack of a clear framework — and warned countries like the U.K. and Japan are “miles ahead.”

Ripple’s general counsel Stu Alderoty wrote: “Intelligent, well thought-out regulations communicated effectively and uniformly applied can help level the playing field and unleash innovation and further mainstream adoption here in the U.S.”

When Gary Gensler’s appointment as SEC chair was announced, Ripple CEO Brad Garlinghouse tweeted: “Congrats to Gary Gensler! We’re ready to work with SEC leadership and the broader Biden administration to chart a path forward for blockchain and crypto innovation in the US.”

Is $1 billion a day in volume the “new normal” for Uniswap?

Uniswap is nearing an average of $1 billion a day in trading volumes during January.

It’s already surpassed the previous monthly trade volume record of $15.3 billion set in September during the DeFi boom.

Uniswap traders are spoiled for choice with 1,558 coins traded in more than 2,400 pairs, however, the majority tend to favor less risky trades. 

On one day this week, ETH pairings with stablecoins USD Coin, Tether and Dai made up 45% of the $1.1 billion traded.

Uniswap strategy lead Matteo Leibowitz has already declared that $1 billion volume a day is the new normal.

Winners and Losers

At the end of the week, Bitcoin is at $32,300.43, Ether at $1,250.90 and XRP at $0.27. The total market cap is at $944,648,313,957.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Enjin Coin, Curve DAO Token and Decentraland. The top three altcoin losers of the week are IOST, Zcash and Dash.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis. 

Most Memorable Quotations

“I think for the time being, we probably put in the top for Bitcoin for the next year or so. And we’re likely to see a full retracement back toward the 20,000 level.”

Scott Minerd, Guggenheim CIO

“Only by widening the playing field and facilitating more participation will crypto reach and maintain a market cap of $2 trillion and beyond.”

Aite Group

“Ethereum will continue to see demand outstrip supply as global adoption continues.”

Danny Ryan, Ethereum Foundation researcher

“We fought hard & earned the right to take a breath & reset. Janet Yellen isn’t Steve Mnuchin. I’m optimistic.”

Jake Chervinsky, Compound Finance general counsel

“We’ve obviously seen the price of Bitcoin rise quite a bit; we’ve seen a lot of activity in the DeFi space, and I think all of these things will provide a nice framework against which a new chairman can take a fresh look at questions across the board in the crypto space.”

“Crypto Mom” Hester Peirce, SEC commissioner

“I’m honestly loving how well $ETH is holding up in this climate.”

Neko, cryptocurrency trader

“There is an increasing amount of trader doubt that #Bitcoin will revisit $40,000. But according to address activity and trade volume, the long-term trend still looks plenty healthy. Keep a close eye on whether $BTC’s usage rate stays propped up.”

Santiment

“Congrats to Gary Gensler! We’re ready to work with SEC leadership and the broader Biden administration to chart a path forward for blockchain and crypto innovation in the U.S.”

Brad Garlinghouse, Ripple CEO

“Bitcoin is the best cryptocurrency suited for store of value. In terms of what the Bitcoin blockchain can currently handle from a latency and throughput point of view, Bitcoin is very strong.”

Konstantin Richter, Blockdaemon founder and CEO

“Grayscale were buying $251 million of #Bitcoin on avg per week in Q4 2020. Last week they did $700 million in one day… And today $590 million… Pay attention.”

Danny Scott, CoinCorner CEO

“The flow into the Grayscale Bitcoin Trust would likely need to sustain its US$100 million per day pace over the coming days and weeks for such a breakout to occur.”

JPMorgan

Prediction of the Week

Hedge fund predicts $115,000 Bitcoin price and the fall of “speculative” altcoins

New data from Pantera Capital this week suggested that Bitcoin’s current price action is closely following the stock-to-flow model’s trajectory.

The firm’s analysts believe BTC will have reached $115,212 by Aug. 1 and that its price will gain an average of more than $10,000 a month, hitting six figures in the early summer.

Pantera believes that a significant difference between this rally and 2017 is linked to the overall market composition and where value is located — with altcoins losing out.

Andy Yee, a public policy director for Visa in China, tweeted: “This rally is different. Massive shift from high-speculative, non-functioning tokens in 2017 to #Bitcoin and #Ethereum today.”

FUD of the Week 

More institutions will warm up to crypto once market cap hits $2 trillion, eToro says

Barriers are still hindering institutional adoption of crypto, a new report commissioned by eToro suggests.

Researchers at Aite Group said the crypto market could reach a $2-trillion market cap if more institutional players were to get on board amid more favorable conditions. These firms would be more likely to adopt crypto if there was less regulatory uncertainty, a developed market infrastructure, and less risk surrounding security.

Tomer Niv, head of business development at eToro, said: “Only by widening the playing field and facilitating more participation will crypto reach and maintain a market cap of $2 trillion and beyond.”

The report also warned that “technical complexity” is an issue that needs to be addressed, with Niv adding: “More needs to be done from a market infrastructure point of view to make this group of investors feel comfortable joining the crypto ecosystem.”

83% of cryptocurrencies that peaked in 2018 are still down by 90%

More than 80% of crypto assets that hit all-time highs in January 2018 are still down by at least 90%, according to data from Messari.

The data set included 410 assets that posted record prices during 2017 or later, with 2018’s 157 star coins performing the worst with an average of -90.71% since the previous ATH. 

2017’s top cryptos have since crashed by 82% on average, while 2019’s crop is down 72%, and 2020’s standouts have shed 53%.

CMT Digital analyst Matt Casto, who spotted the data, tweeted: “Holding assets that hit high marks +3 years ago is proving to be a massive lost opportunity cost for deploying capital.”

Armed robbers steal $450,000 from Hong Kong crypto trader

A manhunt is underway after robbers posing as crypto buyers stole $450,000 from a woman in Hong Kong.

One member of the gang completed multiple transactions with the victim to win their trust, and an investigation has uncovered there were three previous deals ranging between $77,000 and $90,000.

On the day of the robbery, the other members of the gang rushed to the scene as soon as their colleague received the Tether tokens in exchange for the $450,000 payment.

Armed with knives, they proceeded to lock the woman in the office where the deal took place but not before snatching her iPhone and the cash.

According to The South China Morning Post, the woman was able to use her second phone to inform her husband, who contacted the police. Detectives said that the woman’s uncle, who chaperoned her to the meeting place, reportedly saw four men fleeing the scene.

Luckily, the woman was unhurt in the attack, unlike other victims who have suffered physical injuries and even death at the hands of bandits looking to steal cryptocurrencies.

Best Cointelegraph Features

Believing, not seeing: Institutions still predict $100,000 Bitcoin price

Even though Bitcoin has struggled to reclaim its recent high of $42,000, Shiraz Jagati says projections of BTC reaching $100,000 still seem achievable to some.

Access denied: Banks seem prone to cryptophobia despite growing adoption

Banks in many countries continue to either outrightly deny or limit their services to crypto exchanges.

Bitcoin as a last resort? Murmurs of crypto as a reserve currency abound

Could Bitcoin fulfill the key functions of a reserve currency? Andrew Singer talks to experts as he aims to find out whether BTC can find a new and unexpected role for itself.

Bitcoin in jeopardy, Ether briefly breaks records, Biden takes action: Hodler’s Digest, Jan. 17–23

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Jan 20 2021

Indiegogo’s New Partnership with Japanese Pre-Order and Support Platform Makuake

Today we’re excited to announce a new partnership with Makuake, the leading pre-order and support platform in Japan, to empower entrepreneurs and consumers worldwide to unite around unique product ideas and, together, bring them to life.

Through this partnership, Makuake and Indiegogo will be combining resources, expertise, and a global network of communities to connect forward-thinking entrepreneurs in Japan with enthusiasts who power their innovation. The partnership will also allow successful campaigners on Indiegogo to find new audiences in Japan.

As the biggest pre-order and support platform in Japan, Makuake has an extensive track-record of supporting Japanese creators in developing and launching their products. We’ve done the same on the global stage over the last 12 years, having helped over 900,000 entrepreneurs successfully raise a total of more than $2 billion in funds directly from customers. Now our two platforms will join forces, bridging the gap between previously disparate crowdfunding markets. 

This announcement comes hot on the heels of a series of Japan-oriented developments to the Indiegogo platform — including an expansion of the Indiegogo Global Fast Track Program into the Japanese market, which aims to help Japan’s top innovators build international brands faster; a partnership with the Japan External Trade Organization (JETRO) to give Japanese entrepreneurs additional support for launching successful crowdfunding campaigns; and a new option for entrepreneurs to receive their funding directly in Japanese yen when their campaign ends.

These improvements, along with our latest partnership with Makuake, will grant consumers access to products that were previously out of their reach and give entrepreneurs in Japan a seamless way to raise funds for their products from backers around the world.

“Millions of people around the world visit Indiegogo to find clever and unconventional things that solve everyday problems large and small,” says Andy Yang, CEO of Indiegogo. “We are very excited to partner with Makuake, who share a very similar mission with us, so that together we can unite the world through bright ideas, all while providing the best opportunities for our creators and entrepreneurs to reach their goals.” 

“Our mission is to connect the world through the creation of new things,” says Makuake CEO Ryotaro Nakayama. “This partnership between Makuake and Indiegogo lays the groundwork for Japanese makers and creators to spread their innovative products and passion throughout the global market. In addition, Japanese consumers will be able to discover more global innovative products in Makuake.”

Want to learn more? Find additional information in the Indiegogo Japanese Crowdfunding Field Guide. 

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Written by bizbuildermike · Categorized: Crowdfunding · Tagged: brands, ceo, Crowdfunding, Entrepreneurs, funding, Global, html, ideas, IGG, information, innovation, international, japan, market, markets, more, partnership, platforms, product, Products, trade, us, world

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