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Richard Thaler is well-known for his expertise and work in behavioural economics, also, he’s a Nobel prize-winning economist. Recently while speaking to a Portuguese publication ECO, he stated that after taking a close look at the market, he thinks that “bitcoin and its sisters” seem like a bubble and despite his analysis, he doesn’t have any idea when this bubble might burst.

Thaler said, that he can clearly see a bubble in the debt markets, as the given rates are almost close to zero. Furthermore, he added, that the market to him seems like a bubble of “bitcoin and its sisters”. Also, the cryptocurrency ecosystem is also acting absurdly, according to Thaler.

Thaler highlighted the Long Island Iced Tea’s shares as an example, as the shares are surging above 300% following a blockchain rebrand to Long Blockchain Corp. According to Thaler, it doesn’t make sense that companies are adding blockchain to their name and by just doing that, their value is going up, and it just keeps going like this.

bitcoin and its sisters

Thaler had already paradoxically discussed the whole Long Island Iced Tea case on his Twitter account. It happened after he got the Nobel prize, for his work in behavioural economics that also warns us of the distinctions between the behaviour of reality and homo economicus.

By using the examples of the dot-com bubble and 1987 Black Monday crash, Thaler said, he didn’t try to anticipate when this bubble of “bitcoin and its sisters” will burst, because by looking at history, we can clearly see that awful things can happen when markets become irrational.

In normal markets, we don’t see extreme events like these as often as we do in the cryptocurrency markets – Richard Thaler

Last year, in an interview, he stated that it looked like he was living in the riskiest moment of his life, and the stock markets seemed to be napping, although he admitted that he couldn’t understand it. He also admitted that was anxious about the stock markets and when the investor gets nervous, then it’s obvious that he’s going to get agitated. However, he noted that nothing can spook the market.

It seems like that Richard Thaler doesn’t like bitcoin, however, he isn’t the only Nobel prize-winning economist who dislikes bitcoin. Joseph Stiglitz, who won the price in Economic Sciences in 2001, apparently doesn’t find any useful functions for Bitcoin and thinks that cryptocurrency could be regulated out of the existence. Robert Shiller (Nobel laureate), who won a prize for his work in Trendspotting in asset markets, back in 2013, predicted that we’ll see a bitcoin crash, although it won’t go to zero, but it will probably bring the cryptocurrency down.

 

 

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How to Protect Your Privacy and Bitcoin Security Online?

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Bitcoin Security Online

In today’s world, maintaining online privacy and security has become quite a big deal. Despite all the technological advancements, the hackers are still able to find ways to breach the security of internet users – especially those involved in Bitcoin transactions.

Since Bitcoin is the most valuable form of digital currency out there, hackers particularly target those who prefer to store their wealth in the digital realm.

But it’s not only hackers that are stealing your data. Government and non-state actors also spy on your personal information. But don’t worry, there are many steps that one can take to secure his online privacy and the Bitcoin security.

First, we will talk about how to protect your privacy online.

How to Protect Your Bitcoin Online:

Online Bitcoin Security:

Web Browsers That Are Privacy-Centric:

There are very few browsers that put user privacy on top of their priority list. Brave browser, Mozilla’s Firefox and Tor browser are few to name.

Here is a brief idea as to how each of these browsers works:

Brave browser:

  • Blocks ads
  • Blocks tracking applications
  • Uses bitcoins incentives to give users a better experience

Mozilla’s Firefox:

Mozilla Firefox is a great tool if you want extensions that focus on security and confidentiality of a user.

Tor Browser:

One of the top-notch browsers that provide complete anonymity to its users. Some highlights of Tor browser include:

  • Hides IP
  • Obscures the proxies
  • Allows users to surf websites that are not indexed on traditional browsers like Google Chrome.

Use a VPN:

A Virtual Private Network (VPN) changes a user’s IP address and server location. Moreover, they provide re-routing and encryption which provide the users with complete anonymity. As a result, third parties are unable to track the location and interfere with the privacy of a user.

Use Email/Messaging Services That Provide End to End Encryption:

Use privacy-focused email services such as Tutanota, Protonmail, etc. as they provide end to end encryption. These services are extremely useful to communicate with other users without giving away your personal details.

You can also read our guide on the safest Bitcoin wallets to ensure the safety of your Bitcoin assets.

How to Protect Your Bitcoin Online?

Following are the ways that can help you keep your bitcoin safe from a security threat.

Multi-Signature Transactions:

The system requires more than one person and keys to authorize a Bitcoin transaction. It’s a digital signature scheme and protects the cryptocurrency from being spent without informing all the signers.

Cold Storage:

The system involves storing your assets offline. Cold storage helps to keep your bitcoins away from intruders. The cold storage techniques can store online wallets, offline wallets, paper wallets and other forms of protected media.

Backing Up the Information:

Most the privacy and security-focused services use passwords, PINs and secret phrases to gain access. Backing up these details so they won’t be lost is a good idea.

Learn how to backup Bitcoin wallet and other related information here.

Make copies of your security codes, PINs, password and store them in secure, offline location. If you don’t backup the information and, unfortunately, lose your wallet – there is no way to recover the lost assets.

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How to Earn BitCoins Fast and Easy

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Bitcoin is getting more and more popular each day. In 2011, you needed to write to a man from another country to order a pizza for you with Bitcoins, but now you can do things similar to that in various major cities. In a few countries like the Netherlands, the whole towns are Bitcoin-accommodating, (for example, Arnhem, regularly called ‘the Bitcoin city’).

This growing popularity of Bitcoin has caught attention of many people, and thus we see so many people asking how to earn bitcoin.

The best and easiest way to earn Bitcoin is through mining. There are several mining pool which one can join in order to earn their own bitcoin. Apart from that, it can also be earned through carrying out certain tasks, or accepting bitcoin payments if you own a business. In short, Bitcoin can be earned in as many ways as real money. So, next time someone asks how to earn bitcoins, you know what to tell them.

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South Korean Blockchain Startups Bypass ICO Ban

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After South Korea banned ICOs (Initial Coin Offerings), things seem to have slowed down; however, the ban hasn’t totally halted the flow of new digital coins on local exchanges. Despite the South Korea ICO ban, startups in the country haven’t closed their doors on the fundraising process and are settling their ICOs overseas and then, listing their digital coins on the exchanges of South Korea. The expansion arises on the heels of a report which suggests that the country, South Korea, is reconsidering its stance on ICOs.

blockchain start ups

Crackdown on Crypto-Markets

In September 2017, South Korea unleashed its crackdown on the cryptocurrency markets and banned ICO listings in the country. This move by South Korea threw a wrench into trading volumes of cryptocurrencies, where the price of Bitcoin is considered to trade at a heavy premium against other markets. Also, a rumour was circulating last month that the investors in South Korea might be scooping up Bitstamp (Luxembourg-based bitcoin exchange), in a contract which has the worth of almost $400 million; however, these reports haven’t been confirmed yet.

With all the other news related to the virtual currency exchanges, it’s been observed from several sources that Bitstamp, as it is one of the oldest exchanges, is in the final stage of being vended to the investors of South Korea for $400 million; however, buyers and the exchange, both are not commenting on it.

 

ICON (ICX)

For now, the surge has started to turn for ICO issuers, as it’s proven through ICON (ICX), which is a new coin developed by DAYLI Financial Group (Seoul-based fintech), though it is issued in Switzerland. The ICON Foundation is listed in Switzerland and works out of Korea. The top two cryptocurrency exchanges of South Korea are; Bithumb and Upbit. Both of these exchanges support ICON for trading. While South Korea followed China and banned ICOs, the issuing firms have discovered a way to avoid the regulations. ICON has been proved as a lucrative investment up to now, as it started trading at $0.11 and rocketed to $2.64 immediately.

 

Park Nok-sun, the NH Investment and Securities cryptocurrency analyst told Reuters that the listing on the trading platforms of South Korea is substantial, since it’s the first-platform-coin of the country that has advanced on code which can support other applications as well. ICON isn’t the only digital currency of South Korea that have evaded the ban. This trend has matured, as almost 12 companies have launched ICOs abroad; however, they’ve also listed their coins on the exchanges of South Korean, including Hyundai subsidiary Hyundai BS&C.

According to Reuters, regulators of South Korea want the blockchain startups of the country to be “transparent” about the international deals but at the same time, it doesn’t intend to be a hurdle in their way. Meanwhile, it would be inexpensive and much easier for South Korea to let the local startups launch their token sales locally again.

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Blockchain Bill Passed by Malta, Pros, and Cons

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Malta has sought-after to make favorable environments for all types of innovation and avant-garde technology. Same goes with blockchain, “We ought to aim to possess the world’s best surroundings for the event and commercialization of Fintech models and tumultuous innovation … the govt. ought to make sure that Malta has the suitable regulative framework, the correct legal system and also the best infrastructure to support this ambition.

malta blockchain

The Parliament of Malta has passed 3 bills into law that establish a regulative framework for blockchain technology, native news outlet Malta these days reported July 4. The Innovative Technological Arrangement, Malta Digital Innovation Authority Act and Services Act, and also the Virtual financial asset Acts include in this blockchain bill.

“Place investors’ minds to rest as firms currently have the required legal tools to control in an exceedingly regulated atmosphere,” said Schembri on the move taken by the Parliament. The Junior Minister additionally expressed his optimism regarding corporations selecting Malta as their base of operations, an expression that the Republic currently offers a stable system which will “result in the more economic process.”

Malta Blockchain Initiatives

Blockchain in Malta has already discovered new grounds during the past year.

The Ministry for Education and Employment (MEDE) has signed a note of Understanding with Learning Machine cluster (LMG), a technology firm targeted on delivering digital social infrastructure at a sovereign state scale. The MOU coincided with the conclusion of “The State of Digital Education: participating with Connected, mixed and Open Learning”—a conference control between nineteen and twenty Gregorian calendar months as a part of Malta’s Presidency of the Council of the ecu Union.

The Malta gambling Authority government chairman Joseph Cuschieri same that he can later this year announce plans regarding cryptocurrencies within the gambling context.  He confirmed that plans also are being developed to line up a national dissipated exchange wherever bets are often qualified. The origin of an ecu gambling Institute which will give targeted and sector-specific coaching is additionally being mentioned.

Point of view by Doctor Jean-Phillipe

Dr. Jean-Philippe Chetcuti of Maltese law firm Chetcuti Cauchi Advocates, aforementioned the passage of the new legislation is “an important milestone for Malta as an advanced economy, really confirming Malta because of the ‘blockchain island.’” Chetcuti noted that firms can feel more well-off “committing to more investment and putting in in Malta.”

“The 3 Bills which will regulate distributed ledger technology (DLT) are approved by Parliament and enacted into law. Malta, the primary world jurisdiction to produce legal certainty to the current space.” Tweeted Silvio Schembri who is Junior Minister for money Services, Digital Economy and Innovation among the workplace of the Prime Minister of Malta, regarding the passing of the bills these days, noting that the island nation could be a pioneer in providing a solid legal framework for blockchain companies.

The country’s officers took restrictive steps to become the “blockchain island”. A multitude of blockchain and crypto business have already situated in Malta because Recently, many cryptocurrency exchanges, together with OKex, Binance, and BitBay have discovered operations in Malta because of the development of a blockchain and crypto-friendly area inside the country.

Moreover, the Malta gambling Authority issued a document with tips about blockchain and cryptocurrency applications inside the play trade, planning to apply standards to games that use cryptocurrencies and blockchain technology. Last year, the govt. of Malta collectively announced it had been developing a project to examine the practicability of victimization blockchain for the recording of educational certificates. This law formalizes regulative procedures for the cryptocurrency and therefore the blockchain industry. It additionally establishes the Malta Digital Innovation Authority (MDIA), which is able to function the restrictive body for the industry. The functions of the MDIA are going to be allotted by a Board of Governors, headed by a chief operating officer.

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