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Research: Investor psychology is the only thing keeping the price of stablecoins stable

Jul03
by on July 3, 2018 at 1:40 pm
Posted In: Around the Web, cryptocurrency, Hard Fork


It seems that there is no cutting-edge technology or financial principle keeping the price of stablecoins stable. It is simply the psychology of investors. BitMEX Research studied two of the most popular distributed stablecoins — BitShares-based BitUSD and MarketDAO-based Dai — to examine the mechanism these two cryptocurrencies relied on to keep their price stable. The research found that what ultimately keeps stablecoins at the same price point is what BitMEX refers to as the “why would it trade at any other price” principle – a peculiar market logic which emerges when majority of investors trade a certain asset at a…

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a couple of laughzillas on a blue diamond background

Research: Investor psychology is the only thing keeping the price of stablecoins stable

Jul03
by on July 3, 2018 at 1:40 pm
Posted In: Around the Web, cryptocurrency, Hard Fork


It seems that there is no cutting-edge technology or financial principle keeping the price of stablecoins stable. It is simply the psychology of investors. BitMEX Research studied two of the most popular distributed stablecoins — BitShares-based BitUSD and MarketDAO-based Dai — to examine the mechanism these two cryptocurrencies relied on to keep their price stable. The research found that what ultimately keeps stablecoins at the same price point is what BitMEX refers to as the “why would it trade at any other price” principle – a peculiar market logic which emerges when majority of investors trade a certain asset at a…

This story continues at The Next Web

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a couple of laughzillas on a blue diamond background

Deutsche Bank, HSBC, and IBM are testing blockchain-powered bank transfers

Jul03
by on July 3, 2018 at 12:17 pm
Posted In: Around the Web, cryptocurrency, Hard Fork


It was confirmed today that the first cross-border, commercial transactions have been conducted on the we.trade blockchain platform – an initiative established by a group of financial giants, including Deutsche Bank, HSBC, and Rabobank. These aren’t your average bank-funded, cross-border remittances transactions powered by the blockchain, though. This particular test was a sustained cross-country, multi-bank, interoperability remittance fest. Over a whole business week, 10 companies conducted trades on the we.trade platform, making use of four different banks across five countries. The list of participants boasts high profile brands like Santander, Societe Generale and KBC. Participation spans across 11 European countries,…

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Or just read more coverage about: IBM

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IRS launches international initiative to hunt down cryptocurrency tax fraudsters

Jul03
by on July 3, 2018 at 9:56 am
Posted In: Around the Web, cryptocurrency, Hard Fork, world


Cryptocurrency crimes defy borders, and regulatory bodies are collaborating internationally to fight them. The US Internal Revenue Service (IRS) has allied with tax authorities from Australia, Canada, the Netherlands, and the UK to fight tax crime and money laundering with cryptocurrency and other financial assets, the government agency announced on its website on Monday. The joint efforts — named ‘Joint Chiefs of Global Tax Enforcement (J5)’ — will comprise of six agencies from the five countries including the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Fiscale Inlichtingen- en Opsporingsdienst (FIOD) from the…

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Definitely don’t use these VPNs to avoid Uganda’s social media tax

Jul03
by on July 3, 2018 at 9:39 am
Posted In: Apps, Around the Web


In case you hadn’t heard, Uganda has a social media tax. From the 1st July, citizens of the East African country have had to pay 200 Ugandan Shillings (roughly $0.05) every single day to access social networks, such as Twitter, Instagram, Facebook, and WhatsApp. As you can imagine, people are really, really, really happy about this. Fuck #socialmediatax. This government is laughably insecure — MoRie Maurice (Audio (@MoRieMaurice) July 1, 2018 Sent this tweet without paying tax, feels good evading tax. Fuck #socialmediatax — Kagangure (@pitnhopet) June 30, 2018 Let me take this moment to say “FUCK THE UGANDAN GOVERNMENT”…

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