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Bitcoin Mayhem Results In Mixed Messages – Forbes

Posted on October 1, 2019 by Danzig

Bitcoin and cryptocurrency market chaos this week has caused panic among traders and investors who have been nervously waiting for a sudden move for months.

The bitcoin price plummeted this week from its recent plateau of around $10,000 per bitcoin to under $8,000losing some 15% of its value in a matter of hours.

Now, as bitcoin technical data looks bleak and bitcoin bulls advise traders to "buy bitcoin at every chance" they get, the market looks as confused as ever.

The bitcoin and cryptocurrency market was caught off-guard this week by a sudden sell-off.

The GTI Global Strength Indicator, which measures upward and downward movements of successive bitcoin closing pricesshows bitcoin isn't yet "oversold," potentially pointing to further declines, it was first reported by Bloomberg, a financial newswire.

Meanwhile, the founder, chief executive, and chief investment officer of Morgan Creek Capital, a U.S. bitcoin and cryptocurrency investment company, told traders to "buy the dip," adding daily moves in the bitcoin price "don't matter," and should be ignored.

Yusko, who was speaking to CNBC, has previously said the bitcoin price could hit $30,000 per bitcoin before its next major pullback.

The bitcoin price has rallied hard so far this year as traders and investors cheered the likes of social media giant Facebook and iPhone maker Apple showing interest in bitcoin, cryptocurrency and bitcoin's underlying blockchain technology.

Elsewhere, other market analysts said this week's sell-off, which saw over $30 billion wiped from bitcoin's total value, was likely not due to a change in fundamentals.

The bitcoin price moved sharply lower this week, dropping well under the psychological $10,000 per ... [+] bitcoin mark.

"When [the $9,100-$9,300 suport range] was broken, we probably saw some sell-stops elected and the whole thing began to snowball lower," Matt Maley, equity strategist at Miller Tabak and Co, told Bloomberg.

The sudden market rout was put down to a lackluster debut for the hotly-anticipated Bakkt bitcoin and cryptocurrency investment platform at the beginning of the week.

Bitcoin Mayhem Results In Mixed Messages - Forbes

Striking Bitcoin Market Manipulation Revealed – Forbes

Posted on October 1, 2019 by Danzig

Bitcoin and cryptocurrency markets are in turmoil tonight after the disappointing launch of the hotly-anticipated Bakkt crypto platform.

The bitcoin price shed 15% of its value this week, with some of its biggest rivals including ethereum, Ripple's XRP, litecoin, and bitcoin cash, recording losses as high as 22% as investors balked at Bakkt's low bitcoin trading volume.

Now, new research has warned of a "striking systematic trend" in bitcoin price movements, with bitcoin falling far further than average ahead of CME's bitcoin futures contracts being settled each month.

The bitcoin price has plummeted this week after trading sideways for months.

Bitcoin has dropped on average 2.27% towards settlement each month, compared to an average fall of just 0.06% on a random day over the same period, bitcoin and cryptocurrency analysts at Arcane Research found.

Adjusting for "large outliers," researchers found the average price movement up 0.04%, while for the period before CME bitcoin futures contracts are settled the price falls by 1.99% on average.

"Statistically, it is highly unlikely that the price falls in advance of CME settlement should be caused by mere coincidence," Arcane's Bendik Norheim Schei wrote.

"The figures thus support a hypothesis that the bitcoin price is manipulated in advance of CME settlement. However, the figures do not say anything about deliberate manipulation or, for example, only a result of investors strategy of hedging," Schei added, acknowledging "other factors" could "potentially explain the pattern, or show that it is even stronger," and calling for further analysis.

Bitcoin and crypto analysts found what they called "significant" bitcoin price disparities ahead of ... [+] bitcoin futures contracts being settled.

CME, a Chicago-based financial markets company, began offering bitcoin contracts at the peak of bitcoin-mania in December 2017, to much fanfare.

CMEs bitcoin futures settle in cash, unlike the new "physically" settled bitcoin futures traded on Bakkt, which has led to accusations traders are playing the system by betting against the bitcoin price with these futures contracts, a practise known as shorting.

"These futures contracts are optimal for manipulation. They are settled in dollars and not in bitcoin. The price for the settlement is determined by the bitcoin price in the underlying market. Thus, it is never actual bitcoin that change hands, and it is just an overlying market traded in dollars," Schei explained.

Some bitcoin and crypto market watchers are hoping Bakkt's bitcoin futures will gain popularity and steer investors away from cashed settled contracts.

After a period of stability, the bitcoin price took a sharp turn for the worse this week.

However, with only 72 bitcoin traded on Bakkt on its first day, compared to several thousand traded daily on CME, there's a long way to go.

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Striking Bitcoin Market Manipulation Revealed - Forbes

Bitcoin, ETH, XRP, LTC, And XLM Sell-off — Is It Overdone? – Forbes

Posted on October 1, 2019 by Danzig

Last week was a horrible week for cryptocurrency markets. Bitcoin,ETH, XRP, LTC registered double digit losses, with ETH and LTC losing more than 20% of their value--see Table 1.

Table 1

Seven-Day Price Change For Major Cryptocurrencies

Source:Coinmarketcap.com 9/28/19 at 11:40 a.m.

The losses spread across the entire market, with only 11 out of the top 100 cryptocurrencies advancing and 89 decliningsee Table 2.

Table 2

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks

Source:Coinmarketcap.com 9/28/19 at 11.40 a.m.

The board sell-off in cryptocurrencies coincided with a couple of events that should have been bullish rather than bearish for the digital currency. One of them is the introduction of Bakkt Bitcoin futures.

Thats a positive development for cryptocurrency markets. Futures contracts could solve one of Bitcoins problems: market volatility, and help the digital currency to become peoples currency. Gain broad acceptance among merchants as a medium of exchange, that is.

Then theres the rising uncertainty in Washington that shook Wall Street.

That should have been positive for Bitcoin, too, as the digital currency is supposed to be a hedge against uncertainty.

Does anyone know what caused the sell-off?

Nicholas Pelecanos, Advisor to NEM Ventures, offers a couple of clues. One of them is technical. The BTC price has seen a 20% sell offthis week after breaking out to the bottom side of the descending triangle pattern its price had been consolidating in since late June, he says.

Then theres the news of a flush crash in the Bitcoin hash rate. News of a 40% flash crash in the Bitcoin hash rate (the metric usedtomeasure the amount of computational power securing the blockchain) was touted as the cause of the dump in price, but I dont necessarily agreethis caused fall in price or actually happened, says Pelecanos.

But he doesnt believe that the flush crush, indeed,happened. For a 40% flash crash in the hash rate to occur,40% of mining rigs securing the network would have had to shut off at the same time.I believe amore likely explanation for the reported fall in hash rate canprobablybe found in themethods blockchain monitoring websiteslike Blockchain.comuse tocalculate the hash rate.

Simply put, cryptocurrency markets may have been misreading the news.

And theres the Bakkt event, which tricked Bitcoin traders.

The thinking on Bakkt was thatthe futures volume would end up being net long asthe contracts areBTC settled unlikethe CME futures which are cash settled, Pelecanos says. This would mean that finally the institutional money could flow into BTC and pump the market, I still believe thiswill be thecase. As this didnt happen on the first week of Bakkt going live,sentiment changed under the shadow of a large bearish descending triangle.

Again, cryptocurrency markets could have been misreading the news. Wall Street is trying to reduce rather than raise market uncertainty.

Still, he thinks that the sell-off is overdone. Several indicators, both technicalandquantitative, are startingto show signs of BTC beingoversold, he says. Oneofthe main indicators Im keeping my eye on is our network valuemodel. This model helps us predict price action 3 days in advance with a 70% correlation. Generally,when the network value climbs above the market price, its a signal for bulls to rush in.

Thats what happened back in 2017 and 2018, when the Bitcoin market bottomed.

Will history repeat itself? It remains to be seen.

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Bitcoin, ETH, XRP, LTC, And XLM Sell-off -- Is It Overdone? - Forbes

New Bitcoin Fraud Goes Right To The Top – Forbes

Posted on October 1, 2019 by Danzig

Getty Images

As bitcoin scams go, this one takes some beating in the credibility stakes. In a physically mailed letter purporting to be from the Queen's private office within Buckingham Palace, brazen scammers have asked recipients for a bitcoin donation to help the U.K. fund its Brexit mess. After more than three-years of quagmire, Brexit will now happen quite quickly, and the money is needed to save Great Britains economy.

Paul Ridden, CEO of a U.K. technology company, claimed to have received the letter and duly shared it on LinkedIn. For such a poorly drafted scam to be sent by regular mail is bizarreespecially given the would-be fraud revolves around cryptocurrency.

"I think it's an attempt to be different, Ridden told ITPro. In a corporate world, one of the things we're always trying to protect against is these social engineering attacks and I guess coming in on paper, it's perhaps trying to come through a door that's not protected... As a tech firm ourselves, we're reasonably aware of what's going onso, nobody's going to be sending any Bitcoin off to them."

Paul Ridden / LinkedIn

Asking for between 450,000 and 2,000,000 ($585,000 and $2,600,000), the letter promises 30% interest for a three-month loan, as well as membership of the Royal Warrant Holders Associationa legitimate organization that supports individuals and businesses that have supplied goods or services to the Households of HM The Queen, HRH The Duke of Edinburgh or HRH The Prince of Wales for at least five years.

More importantly, the letter promises to delay any economic hard-shocks from Brexit and to keep EU imports running as normal. All in all, hard to refuse.

According to the phishing letter, signed by the Queens Private Secretary, 19 billion ($24.7 billion) must be paid by the U.K. to the EU to save and sustain the economy. The good news is that the Queen has already raised 82% of the required funds. The bad news is that the October 19 deadline to raise the rest is approaching fast.

The recipients of the letter are also asked to keep its contents secret, to avoid it going viral, which might have adverse effects on the bilateral agreements now in place.

Targeted scams and social engineering have reached almost epidemic proportions. The use of familiar names and platforms to entice victims into trusting scammers has become sophisticated enough that it is often hard to spot. Not this time, though.

If this is a legitimate scam and not a prank of some sort, the main question raised is why would fraudsters go to so much trouble in framing an attack to let themselves down with poor grammar and such an obvious ruse. With email and messaging compromises, its a volume playyou can mail and message many thousands of people at a time and you might get a handful of positive responses. With a physical attack the numbers simply dont work.

Unsurprisingly, this scam does not seem to have generated any bitcoin funds. And so the quest for Britains orderly exit from Europe continues.

The Queen, one can assume, is decidedly unamused.

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New Bitcoin Fraud Goes Right To The Top - Forbes

Post-Crash Bitcoin Warning As Wallets Targeted In Active And Ongoing Hack Attack – Forbes

Posted on October 1, 2019 by Danzig

First bitcoin crashes and then more bad news is piled onto cryptocurrency investors

Bitcoin went into meltdown starting September 24 when the BTC price dropped by more than 10% in what some highly-respected commentators referred to as a bitcoin crash. The bad news for bitcoin continued through the week, with the price continuing to fluctuate around, and below, $8,000 (6,500). Now bitcoin buyers have been issued a warning concerning another threat to their cryptocurrency investment; an "active and ongoing" threat campaign that steals bitcoin wallets.

Security researchers from Juniper Threat Labs have reported how spyware delivered by a Trojan and using the encrypted Telegram messaging platform for data exfiltration, targets cryptocurrency wallets.

The off-the-shelf malware, identified as "Masad Clipper and Stealer," is currently being distributed in black market forums online. The malware starts off free, but the prices ramp up to $85 (69) for the versions with the most functionality. Juniper researchers discovered a Telegram group, with more than 300 members, where potential buyers can learn more and, it is thought, also get tech support. The Telegram messaging service, with more than 200 million users worldwide, is also being deployed as a command and control (C2) channel for the malware to provide anonymity to the operators. I say operators for a good reason: Masad is sold as an off-the-shelf package and therefore being used by multiple criminal actors. The Juniper researchers have found 338 different Telegram C2 bot IDs to date, which ties in nicely with the Telegram Masad support group membership.

Juniper researchers have said that the main route to infection being used by those behind the Masad attacks has been to pose as a legitimate application, or sometimes bundling the malware executables into third-party tools, to fool the unwary victim. These downloads are advertised, and linked to, in user forums, third party download sites and file-sharing sites. Just some of the software and tools that Masad is known to currently be masquerading as include a Fortnite game aimbot, fake updates for Samsung Galaxy smartphones and the CCleaner system clean up application. The full list can be found in the Juniper research report.

The malware is, at heart, simple spyware: it looks for sensitive data through the web browser including credit card details, passwords, autofill fields, cookies, installed software and processes, desktop files and system information.

Oh yes, and cryptocurrency wallets.

One function of the Masad malware is to interrogate the system clipboard looking for data that matches the configuration of specific cryptocurrency wallets. If a match is detected, then Masad replaces that clipboard data, that wallet, with a wallet belonging to the attacker which is coded into the malware binary. As well as bitcoin, Masad will look for almost every other cryptocurrency; these are opportunist cybercriminals and they will not overlook any chance to make a quick profit.

The mitigation advice is not to download software, tools or services through anything other than an official app store or manufacturer site. "In order to protect your organization, make sure that you have a next-generation firewall (NGFW) with Advanced Threat Protection," Juniper researchers said, "NGFWs have the ability to identify the Telegram protocol and block it, if there is no legitimate business use, while Advanced Threat Protection products offer other methods to detect and counteract this malware."

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Post-Crash Bitcoin Warning As Wallets Targeted In Active And Ongoing Hack Attack - Forbes

Bitcoin nosedives 22% this week to its lowest level since June – CNBC

Posted on October 1, 2019 by Danzig

People walk past a board with the logo of Bitcoin in a street in Yerevan, Armenia September 9, 2019.

Anton Vaganov | Reuters

This has been a tough week for bitcoin.

The world's first and largest cryptocurrency plunged more than 20% over seven days, hitting a low of $7,757 Friday its lowest level since June. Bitcoin futures meanwhile, were on pace for their worst week of the year.

The cryptocurrency known for its volatility had been relatively stable since August, trading in the $10,000 range until this week. The sharp drop below $8,000 began Monday and continued to sell off throughout the trading week. Other major cryptocurrencies ether and XRP are down 24% and 19% for the week, respectively.

As is often the case in cryptocurrency markets, analysts were unable to point to one specific catalyst for the price drop.

One theory investors pointed to was a lackluster debut of a new bitcoin futures product. On Sunday, the Intercontinental Exchange, parent company of the New York Stock Exchange, launched its futures contracts on a platform called Bakkt as a way to usher in new bitcoin investors who may have been cautious about trading on exchanges.

Michael Moro, CEO of Genesis Trading, said there was a "sell the news" effect after the Bakkt launch especially after what was "perceived as a low-volume launch," he said.

"Anticipation for Bakkt was really high in Asia, and fairly or unfairly, the launch was counted on as a positive price catalyst," Moro said.

Moro said low demand for a new product is normal. But disappointed bitcoin investors sold and set off a cascade of liquidation.

Brian Kelly, CEO of BKCM, said that selling was exacerbated by a key $9,000 technical level being broken on Monday. The next level investors are watching is $7,500 the price at which Kelly said mining bitcoin becomes unprofitable. The bitcoin "mining" process uses high computing power to compete and solve a complex math equation. The winning miner gets bitcoin as a reward for successfully completing the equation.

Jeff Dorman, chief investment officer at Los Angeles-based digital asset manager Arca, said none of the explanations this week really add up, and he "can't remember a time when a crypto price move has made less sense."

"While no one has perfect clarity ahead of big moves, and fast and violent price moves are often unpredictable, it has historically been possible at least to rationalize large moves after the fact," he said. "But three days after this decline started, there still haven't been any valid explanations."

Dorman said the best explanation was investors selling on a rumor about a decline in hash rates, which is a measure of how fast bitcoin miners can solve equations, as well as the "disappointing" launch for Bakkt. The selling was made worse by stop loss liquidations, where people automatically sell when bitcoin hits a certain level.

"The continuation of the selling pressure may be based on confusion, as the market tries to regain equilibrium even though neither buyers or sellers really understand why we're here in the first place," Dorman said.

Still, bitcoin has roughly doubled since the beginning of the year. Prices got a boost this summer after Facebook announced its own planned libra cryptocurrency, which analysts said brought more legitimacy to the space. Bitcoin is nowhere near its all-time high, near $20,000 in December 2017.

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Bitcoin nosedives 22% this week to its lowest level since June - CNBC

Dark web weed dealers used Craigslist of Bitcoin to launder their illicit profits – The Next Web

Posted on October 1, 2019 by Danzig

Two men have pleaded guilty for conspiring to launder money using Bitcoin BTC after selling marijuana on the dark web.

Connor Brooke and Aidan Curry, 25 and 23 respectively, gave their plea in federal court yesterday. The pair agreed to forfeit tens of thousands of dollars worth of cash, cryptocurrency, and [computer hardware] that was used to commit the crime, the Times of San Diego reports.

Brooke and Curry ran a series of dark web enterprises, one of which sold marijuana while the other allowedpeople to buycryptocurrencyfor cash at a premium.

In a text message, Curry described the perpetrators cryptocurrency transfer business as a currency exchange place for Bitcoin. They went on to add that they advertised their business on a website that was the equivalent to the Craigslist of Bitcoin.

The report states that BayCoins had posted two solicitations for business, one featuring Currys details and the other featuring Brookes. The pair promised fast and easy Bitcoin transactions and enforced a non-negotiable transaction fee of 5 percent.

Even though BayCoins is said to have generated sufficient profits, how much the pair actually made though isnt stated. Its said that the perpetrators sold marijuana on various dark-web marketplaces, after receiving payment in cryptocurrency they sold the coins for additional profit through BayCoins, always for cash.

While the pair have already pleaded guilty, they will face sentencing early next year on January 6. They each face a maximum of 20 years in prison and a $500,000 fine.

Through using Bitcoin and cash the pair allegedly maintained some level of anonymity. It seems they were able to evade the authorities for some time, and what actually led to them being reprimanded isnt immediately clear. However, their capture appears to be the result of an ongoing Homeland Security investigation.

The investigation resulting in todays guilty plea is an excellent example of the commitment and partnership between HSI [Homeland Security Investigations] and prosecutors to seek out individuals and criminal networks who try to conceal their illicit activities under the cloak of the Dark Web, said Nick Annan agent in charge of HSI in San Diego.

I guess this is just another dark web cryptocurrency drug bust to add to the ever-growing list.

Want more Hard Fork?Join usin Amsterdam on October 15-17 to discuss blockchain and cryptocurrency with leading experts.

Published October 1, 2019 08:38 UTC

Bitcoin Approaching Biggest Weekly Price Loss of 2019 – CoinDesk

Posted on October 1, 2019 by Danzig

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Bitcoin is on track to post its biggest weekly loss of 2019, having found acceptance below key support for the first time in nearly six months.

The top cryptocurrency by market value is currently trading at $8,030 on Bitstamp, representing a 20 percent drop from this weeks (Mondays) opening price of $10,022. That is the biggest weekly loss of 2019 assuming prices remain at similar levels until Sundays UTC close.

The biggest loss of 2019 so far was a 13 percent fall back in the second week of January, so any greater loss this week would be the most severe of the year to date.

As seen above:

The latest two-figure drop, though, indicates the bull market from Aprils lows near $4,000 has ended and the sellers have regained control.

Its worth mentioning that the cryptocurrency has found acceptance below the 200-day MA for the first time since April 2. The breakdown of the long-term support has further confirmed a bullish-to-bearish trend change. The average is currently located at $8,352.

All-in-all, a corrective bounce, if any, over the weekend will likely be short lived and the cryptocurrency could close below $8,719 on Sunday, confirming the biggest weekly loss of 2019.

BTC has dived out a narrowing price on the weekly chart, confirming a bearish reversal.

The 14-week RSI has dipped below 50 for the first time since the end of March. A reading below 50 indicates bearish conditions.

The MACD histogram is producing deeper bars below the zero line, also indicating a strengthening of bearish momentum.

On the 4-hour chart, the RSI has produced higher lows, indicating scope for a corrective bounce. Further, the 14-day RSI is reporting oversold conditions with a sub-50 print.

Hence, a minor bounce, possibly to levels above the 200-day MA at $8,352 cannot be ruled out.

The daily chart, however, is biased bearish.For instance, the MACD is indicating strong bearish momentum, and the 5- and 10-day MAs are trending south. These averages currently located at $8,553 and $9,337 could offer strong resistance.

Recovery rallies, if any, could be reversed, possibly leading to a deeper drop to $7,500. The bearish setup would be neutralized only if prices rise above $9,097, as discussed yesterday.

Disclosure:The author holds no cryptocurrency assetsat the time of writing.

Bitcoinimage via CoinDesk Archives;charts byTrading View

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Bitcoin Approaching Biggest Weekly Price Loss of 2019 - CoinDesk

Bitcoin Price (BTC) Staging Another Dip Before It Could Recover – newsBTC

Posted on October 1, 2019 by Danzig

Bitcoin price is showing signs of more downsides below $8,000 against the US Dollar. BTC is likely to find a strong buying interest near the $7,500 or $7,200 support.

Recently, there was a minor upside correction in bitcoin above the $8,000 level against the US Dollar. The BTC/USD pair even climbed above the $8,200 resistance. Finally, the price spiked towards $8,400, but it failed to gain momentum. Moreover, there was no proper close above $8,200 and the 100 hourly simple moving average. As a result, the price started a fresh decline below the $8,000 support.

It even broke the $7,700 level and traded to a new monthly low at $7,661. Besides, the current price action is bearish, with an immediate resistance near the $7,900 level. Additionally, 50% Fib retracement level of the recent decline from the $8,157 high to $7,661 low is also near the $7,900 level. The main resistance on the upside is near the $8,000 and $8,100 levels. More importantly, there is a key bearish trend line forming with resistance near $8,050 on the hourly chart of the BTC/USD pair.

An intermediate resistance is near the $8,040 level, plus the 76.4% Fib retracement level of the recent decline from the $8,157 high to $7,661 low. Therefore, an upside break above the $8,000 and $8,100 levels is must for a decent recovery in bitcoin. The next key resistance is near the $8,400 level.

If the price fails to recover above the $8,000 and $8,100 resistance levels, it could continue to decline. An immediate support is near the $7,600 level, below which the price is likely to test the main weekly bearish target of $7,500. Moreover, if there are more downsides, the price may perhaps test the $7,200 support area.

Looking at the chart, bitcoin is clearly declining and is struggling below the $8,000 level. Therefore, there is a risk of more downsides towards $7,500 and $7,200. Having said that, the bears need to be careful since there could be a strong bounce once the current wave is complete.

Technical indicators:

Hourly MACD The MACD is gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is currently well below the 30 level.

Major Support Levels $7,500 followed by $7,200.

Major Resistance Levels $8,000, $8,100 and $8,400.

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Bitcoin Price (BTC) Staging Another Dip Before It Could Recover - newsBTC

Tether Prints Another 20 Million USDT Bitcoin Pump Imminent? – BeInCrypto

Posted on October 1, 2019 by Danzig

Tether the controversial stablecoin company linked to Bitfinex has just minted an additional 20 million USDT. Many industry commentators believe that the company is responsible for artificially inflating the price of Bitcoin.

Whale Alert (@whale_alert) posted evidence of the fresh USDT just before 15:00 GMT today to Twitter.

The news comes just one week after a similar mint. Last Tuesday, the firm reportedly added an additional 15 million USDT immediately following Bitcoins sudden crash to below $10,000. BeInCrypto reported on the mint at the time.

One cryptocurrency trader who believes Tethers frequent massive minting sprees are behind Bitcoin price pumps is Andrew Rennhack. He tweeted in early August about the correlation between Tether issuing new USDT and sudden, dramatic Bitcoin price rises.

Rennhack opined that Tethers issuance of new tokens was behind the entire 2019 run-up in the price of Bitcoin. BTC traded at the start of this year at around $3,800. Months of sideways price action later, it eventually shot upwards in a rally that took its price to just shy of $14,000 this June.

Research by University of Texas finance professor John Griffin supports Rennhacks theory. It states that at least half of the 2017 bull run that saw an ultimate high of just less than $20,000 per Bitcoin was down to market manipulation enabled by Tether. Griffin told the publication:

It [Tether] was creating price support for bitcoin, and over the period that we examined, had huge price effects Our research would indicate that there are sophisticated people harnessing investor interest for their benefit.

Just today, the evidence presented by the Blockchain Transparency Institute suggests that only 36 percent of trading supposedly conducted using USDT is genuine.

Tether has been the subject of much controversy since it first hit the cryptocurrency market.

The idea behind the stablecoin was that it would serve as a less volatile digital asset than Bitcoin or other cryptocurrencies. It would achieve this by supposedly being backed 1:1 by a real US dollar. However, both Tether and Bitfinex have a history of secretive banking arrangements and a less-than-willingness to undergo financial audits. The lack of transparency from both companies has made many people suspicious of them.

In fact, earlier this year, Tether revealed that USDT was not in fact 100 percent backed by dollars. The companys website reads:

Every Tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, reserves).

What do you think about Tether printing more tokens? Do you think the USDT really is pumping up the price of Bitcoin? Let us know below.

Images courtesy of Twitter.

Original post:

Tether Prints Another 20 Million USDT Bitcoin Pump Imminent? - BeInCrypto

UK cops auction off TalkTalk hacker’s Bitcoin – The INQUIRER

Posted on October 1, 2019 by Danzig

These aren't real Bitcoins. In fact, they look like chocolate coins...

A BRITISH POLICE FORCE has made history by being the first to sell off a criminal's cryptocurrency.

In all, the Eastern Region Special Operations Unit sold 240,000 worth of cryptocurrency in small lots containing a mix of Bitcoin, Ethereum and Ripple (the coin, not the chocolate bar). Bidders had to be approved users, to prevent the police from inadvertently funding criminal activity.

"Asset recovery in a digital world has evolved, so it's really important that, working alongside commercial partners, we have a clear process for the storage and sale of cryptocurrency," Detective Chief Inspector Martin Peters of the Eastern Region Special Operations Unit told the BBC.

"This goes to show there is no place to hide criminal assets - we are constantly developing our techniques and capabilities to ensure that proceeds of crime are either given back to the rightful owner or, as in this case, are reinvested in crime."

The cryptocurrency apparently came from the account of Eliott Gunton, who was last week sentenced to 20 months for selling stolen data for Bitcoin. Due to time spent on remand, that sentence is already up, but he is required to pay back 407,359 with restrictions preventing him from using any private internet-capable device.

That might seem like a tough punishment to adhere to, but it's not Gunton's first run-in with the law. Back in 2016, he was given a 12-month youth rehabilitation order for his part in hacking TalkTalk which the Guardian says was supposed to "draw him from the lonely confines of a bedroom and that lonely world of computing to a family where his knowledge and skills could be put to good use and to project that out to the wider world."

It seems that the softly-softly approach didn't work as planned, and desperate times called for more desperate measures.

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UK cops auction off TalkTalk hacker's Bitcoin - The INQUIRER

Bitcoin Price Risks Drop to $7.5K After Third Biggest Daily Loss of 2019 – CoinDesk

Posted on October 1, 2019 by Danzig

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Bitcoin fell sharply on Tuesday, confirming a bearish reversal and opening the doors for a test of crucial price support near $7,500.

The leading cryptocurrency by market value ran into selling pressure around $9,700 in the early U.S. trading hours and fell to a 3.5-month low of $7,998 at 19:45 UTC on Bitstamp.

BTC had been on slippery ground following Tuesdays volatility band breakdown. A widely-followed indicator was also reporting the strongest a bear bias in nine months, as discussed earlier this week.

The price slide was likely exacerbated by along squeeze, when investors square off (or sell) long positions to cut losses in a falling market, thereby creating further downward pressure on prices.

So, while a price drop was expected, the magnitude of the sell-off has caught many by surprise. The cryptocurrency fell by 11.83 percent on Tuesday 2019s third-biggest single-day drop, as per Bitstamp data.

The latest double-digit price slide has taken the cryptocurrency below major support levels. Therefore, a deeper drop toward $7,500 a level seen a week ahead of Facebooks launch of Libra could be seen over the next few days.

As of writing, BTC is changing hands around $8,400 on Bitstamp. Its worth noting the cryptocurrency is still up about 127 percent on a year-to-date basis.

Bitcoin dived out a three-month contracting triangle on Tuesday (above left), confirming an end of the bull market, which had started from Aprils low near $4,000.

Currently, prices are flirting with the 200-day moving average (MA) support at $8,309. That long-term MA has come into play for the first time since April and will likely be breached, as the post-triangle breakdown price drop looks to have legs volumes hit three-month highs on Tuesday.

BTC, therefore, risks extending losses to support at $7,500 lows seen before Libra hype gripped the market in mid-June

Moreover, the triangle breakdown could yield a drop to $4,000 (target as per the measured move method), as tweeted by bitcoin skeptic and CEO of Euro Pacific Capital Peter Schiff.That target looks far-fetched, however.

The monthly chart (above right) is also now teasing a bearish reversal. The cryptocurrency charted inside-bar candlestick patterns in the previous two months, signaling an impending bullish-to-bearish trend change.

The outlook as per the monthly chart would turn bearish only if prices close below $9,049 (first inside bars low) on Sept. 30. That looks likely, with prices currently trading at $8,400 and the daily chart reporting a strong bearish setup.

The bearish case would weaken if prices find acceptance above $9,097 a higher high created on May 30.The outlook would turn bullish if prices bounce from the 200-day MA and chart a quick V-shaped recovery to levels above Tuesdays high of $9,782. That, however, looks unlikely.

BTC has found acceptance below the 55-candle exponential moving average, which served as a strong base during the 2016-2017 bull market.

Back then, the cryptocurrency charted bullish higher lows along the key EMA and not once did the sellers managed to secure a close below the crucial support.

Hence, the latest close below the 55-candle EMA could be considered a strong bearish development.

The 14-day relative strength index (RSI) is currently hovering below 23, its lowest level since November 2018. A reading below 30 indicates oversold conditions and suggests scope for a corrective bounce.

That said, indicators can and do remain oversold for a prolonged period in a strong bearish market, especially when a sell-off is preceded by a major bout of consolidation. BTC was trapped in a narrow range for almost three months before breaking lower.

In such situations, seasoned trades consider an oversold reading on the RSI as an indicator of trend strength. So, expecting a notable price bounce on the basis of the oversold reading on the RSI could prove costly.

Disclosure:The author holds no cryptocurrency assetsat the time of writing.

Bitcoin image via Shutterstock;charts byTrading View

Originally posted here:

Bitcoin Price Risks Drop to $7.5K After Third Biggest Daily Loss of 2019 - CoinDesk

Thanks-thanks to TalkTalk teen hacker: UK cops’ first auction of ill-gotten Bitcoin nets 240k – The Register

Posted on October 1, 2019 by Danzig

British cops have raised 240,000 in their first ever UK-based auction of cryptocurrencies understood to have been seized from former TalkTalk hacker Elliot Gunton , who'd "earned" it selling hacking services and flogging people's stolen personal details online.

The sell-off of Bitcoin, Ripple and Ether to the highest bidder ran for 24 hours from noon on 25 September as part of the Eastern Region Special Operations Unit's (ERSOU) asset recovery process.

The assets were said to have had a fluctuating value of up to 500,000 and were spread across various sized lots.

Gunton's wallet contained over 400k worth of Bitcoin at the time of the seizure.

The bidders for the digital currency were vetted by ERSOU's procured asset management and realisation contractors, we are told, to ensure only ethical buyers participated and the crypto-coins stayed out of the hands of criminals, for the time being at least.

"This historic auction should help us instill the public's confidence in our open, transparent system to recoup the proceeds of crime in a secure and innovative way," said detective chief inspector Martin Peters of ERSOU's cyber crime division.

"Asset recovery in a digital world has evolved, so it's really important that, working alongside commercial partners, we have a clear process for the storage of the cryptocurrency," he added in the statement.

Wilson's Auctions was fully insured to store the assets on behalf of the police before the sales process kicked off. This is the second time it has been involved in a crypto-cash auction: the first was in March, when it sold some 315 Bitcoin on behalf of a private company.

Aidan Larkin, asset recovery director at the auctioneer, said this was the first such sale of Bitcoin "under the instruction of a UK police force" and claimed to have received worldwide interest.

He said it received over 7,500 bids from "as far as Brazil, Australian, Dubai, USA, Canada and Singapore".

There was no reserve on the Bitcoin lot that fetched 240,000. Larkin said that given the roller-coaster nature of Bitcoin valuations, he decided to break the coins into lots.

Both Australian and American cops have been auctioning off crypto-coins over the past few years. In 2016, Aussie police and the US marshals flogged off $11.5m and $1.6m worth of Bitcoin respectively. The American auction saw off blockchained loot once belonging to dark web souk Silk Road's boss, the Dread Pirate Roberts, aka Ross Ulbricht, among others.

Earlier this year, Surrey Police became the first force in the UK to have succeeded in having Bitcoin confiscated by a court, worth 1.25m.

With the cops scrambling for budget after years of cuts, cryptocurrency auctions like this might be just the fillip the police need. Let's hope this helps the Home Office avoid having to dip into cops' IT budget. Just hold onto your Airwaves, peeps.

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Thanks-thanks to TalkTalk teen hacker: UK cops' first auction of ill-gotten Bitcoin nets 240k - The Register

Forget Bitcoin! Id rather make a million by following this tried-and-tested strategy – Yahoo Finance UK

Posted on October 1, 2019 by Danzig

Bitcoins slump over the last few weeks highlights the risks involved in owning the virtual currency. Certainly, any asset can fall in price. However, Bitcoins 26% drop in the last month highlights that its performance can quickly change without clear reason. This may leave its holders wondering whether to sell, hold or buy more of the cryptocurrency.

As such, following a tried-and-tested means of investing your hard-earned cash could be a better idea than buying Bitcoin. Through regularly investing in a diverse range of mid and large-cap shares, it may be possible to significantly improve your long-term financial outlook.

While all investors would prefer to buy at the very bottom of the stock markets trading range, and sell at the top, doing so may not always be possible. After all, it is incredibly challenging to accurately predict the near-term performance of the stock market.

As such, buying shares regularly could be a better idea. It will allow an investor to capitalise on the downturns which the stock market inevitably faces, and could mean that their capital is not generating low returns in the meantime in other assets such as cash. Regular investing also removes the decision on when to buy stocks, which can prove to be difficult. There are always risks facing the world economy and the stock market that may dissuade investors from buying, while buying too many stocks in one go during bull markets may limit the overall returns that are achievable.

As mentioned, one of the drawbacks of Bitcoin is not knowing whether or not it offers good value for money. Its lack of fundamentals mean that investors may become increasingly cautious about buying it following a price fall, since its price is solely dependent on investor sentiment.

By contrast, the stock market offers a wealth of information that can provide an investor with an insight into whether a specific stock offers good value for money. This could enable an investor to improve their chances of generating high returns, while also helping them to avoid potential pitfalls in terms of weak stocks that are value traps.

Through focusing on value stocks, it may be possible to emulate successful investors such as Ben Graham and Warren Buffett. Their track records of success highlight that buying high-quality shares while they trade at low prices can be handsomely rewarded over the long run.

Perhaps the most appealing part of buying shares is the opportunity to benefit from compounding. This may take a while to have a noticeable impact on a portfolios valuation, but over time it can make a real difference to your chances of making a million.

Since the stock market generally follows an upward trajectory over the long run, adopting a buy-and-hold strategy that provides your holdings with the time they need to deliver on their potential could be a worthwhile move. History shows that simply holding stocks over the long run generally leads to high-single-digit returns which, when compounded, could eventually produce a seven-figure portfolio.

Bitcoin (BTC) Price Might Drop To $3000; Here’s How? – Bitcoinist

Posted on October 1, 2019 by Danzig

Noted YouTube financial markets and cryptocurrency analyst Alessio Rastani in his latest video has talked about the possibility of bitcoin crashing down to $3000. However, he believes that his wildcard BTC price scenario has a higher probability of playing out.

Rastani began by discussing a very important market metric the sentiment cycle. In any kind of market analysis, it is crucial to take into consideration the current mood or collective psychology of the market players at a certain point of time. Alessio did just that.

He pointed out a high enough probability of traders or market participants hitting the peak optimism levels on the chart when bitcoin price almost touched the ~$14,000 mark this summer. This corresponds to Euphoria and signifies that markets are on the verge of entering the maximum risk zone. It was followed by folks embracing the Anxiety and Denial mindset as soon as BTC started slipping to $11,000, $10,000.

According to Alessio, anyone who put out an opposing bitcoin price stance against the market sentiment then would be ridiculed as he was, for starters.

Considering the latest BTC drop, Rastani goes on to say that the market is in grip of Fear, Panic, and Depression. Very soon with further bitcoin price descent, traders and investors are bound to find themselves in the Capitulation stage of the market sentiment cycle.

As he opines, articles and media coverages will start talking ill about the market as if theres no tomorrow. Bearish talks will pop from all nooks and corners spelling doom for bitcoin (dead, going to zero, that kind of stuff).

Once the Despondency state is hit, and all hope dies, we will have found the next bottom, and thats when bitcoin price will begin its next ascending move. Rastani says that it could happen very soon and the occurrence is just around the corner.

Bitcoin price is currently lingering below the 21 MA, according to Alessio, and its a big deal. Currently bears have full control of the market, which means market players will have to exercise caution.

As explained by Rastani, by plotting the Fibonacci retracement tool on the weekly BTC/USD TradingView chart, from December 2018 price lows to the high in June this year, we get the 78.6% retracement level at $5433.6. The $5000-$5433 range needs to be given serious importance, as theres a 30-35% probability of BTC dropping below this support zone. So he says. When that happens, the chances of bitcoin price moving down to the $3000 or $2000 level will massively increase.

The odds will increase to 80-90% if BTC crashes further below the $4500 mark.

What do you think of Alessio Rastanis bitcoin price hitting $3000 theory? Share your thoughts in the comments below!

Images via Shutterstock, YouTube: Alessio Rastani

Note:- This article is purely educational and isnt to be construed as financial advice.

Bitcoin (BTC) Price Might Drop To $3000; Here's How? - Bitcoinist

Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees – CoinDesk

Posted on October 1, 2019 by Danzig

Ethereum transaction fees are back on the rise and gaining parity with bitcoin transaction fees.

As seen in data charts provided by blockchain analytics firm CoinMetrics, ethereum surpassed bitcoin in daily transaction fees on Sept. 21. While ethereum has since been maintaining a close parity with bitcoins daily transaction fees, bitcoin currently beats out ethereum at roughly $350,000 in fees per day.

Granted, bitcoin trading volume has been experiencing a slump as of late June, falling from $1.32 million to below $300,000 across major cryptocurrency exchanges, according to data from Bitconity.org. Bitcoins market value is also tanking in recent days dropping from a high of $8,500 to below $8,000 on Thursday.

However, this slump isnt expected to last forever, with many cryptocurrency day traders such as Eric Choe noting that transaction fee volumes should pick up again in coming months as trading for the asset begins to increase.

I do believe this is a temporary thing, said Choe. Historically, bitcoin transaction fees have been higher. I do think this is more a temporary fixation of the markets right now.

Choe added that part of the reason for a surge in ethereum transaction fees has been the recent increase in trading activity surrounding dollar-pegged stablecoin Tether (USDT).

Since 2018, USDT has been trading on ethereum, as well as on the bitcoin-based Omni Layer Protocol. Over the course of 2019, however, the ethereum version of Tether has been surpassing the Omni Protocol version by some metrics.

The Ethereum version of Tether hit a new all-time high of 187,912 daily transactions on September 9th, CoinMetrics reported in a Sept. 17 newsletter, adding:

USDT-ETH is generating so many transactions that it recently accounted for over 25% of all Ethereum transactions on September 8th, and has consistently accounted for more than 10% of all Ethereum transactions since mid-August.

According to Tethers official website, there is roughly $2 billion worth of USDT currently issued on the ethereum platform. In December of last year, there was only a reported $60 million.

Calling this the rise of Tether on ethereum, TM Lee, co-founder of cryptocurrency data aggregator CoinGecko, said the spike in Tethers popularity is likely due to the migration of users from Omni to ethereum.

This is likely due to the gradual switch of USDT support from Omni to Ethereum in most exchanges, especially Binance, which made the [switch] sometime in July 2019, Ong said via email.

Financial markets director at cryptocurrency exchange OKEx Lennix Lai added:

The shift is potentially beneficial to the Ethereum ecosystem since it shall decrease fiction for the most-used stablecoin in the world integrating into the open finance space. However, with USDT clogging the Ethereum network, it means other developers have to encounter a spike of cost on computation power in Ethereum.

In order to prevent network congestion, miners on the ethereum network have recently responded to the surge in transaction activity by increasing ethereums gas limit.

Stepping back, the cost to send a transaction on the ethereum network is called gas and paid in fractions of ETH called gwei. For every block processed on the ethereum blockchain, there is a limit to the overall amount of gas that can be collected by miners.

In short, a higher gas limit means that a higher number of transactions can be included in a block. On Sept. 19, ethereum miners collectively raised network gas limits from 8 million to 10 million gwei.

Ethereum blocks are now effectively 25 percent larger allowing for larger transaction processing loads.

At the same time, the concern around larger block sizes on ethereum is that block propagation speed may slow down. The slower it is for a block to be propagated and accepted by all miners in the ethereum network, the higher the likelihood is for temporary chain splits to occur.

As gas limit goes up, block size will eventually follow it, requiring more storage and initial sync time for nodes, said Eric Conner, founder of ethereum information site ETHHub. So far though, block size hasnt really gone up despite the gas limit increasing.

Even so, some outside of the ethereum community have viewed the collective decision-making of miners on the platform with derision.

Its official! Ethereum miners have unilaterally increased the gas limit and made it even harder to sync a full node, tweeted self-proclaimed bitcoin maximalist Conner Brown. Meanwhile ethereans rejoice at how easy it was for miners to do this without public debate.

However, there is still room for public debate, according to ethereum core developer Alexey Akhunov, who says hed like to better understand the effects of this gas limit increase.

I would like to analyse whether this increase in the gas limit by 25 percent has accelerated the [ethereum] state growth by 25 percent, or by a lower percentage, Akhunov said, adding:

I do not know yet but we shall see soon.

Ethereum and bitcoinimage via Shutterstock

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Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees - CoinDesk

Heres how to fight back against Bitcoin-ransoming malware – The Next Web

Posted on October 1, 2019 by Danzig

Losing your data sucks. It sucks even more when someone uses ransomware to maliciously encrypt your files and demands Bitcoin BTC to ensure its safe return. But dont worry, because there are things you can do to get one over on the cyberbaddies.

Software company Emsisoft has recently released a free decryption tool for prevalentBitcoinextorting ransomware, called WannaCryFake.

According to Emsisofts security researchers, WannaCryFake is a strain of the infamous WannaCry ransomware that began spreading around the world back in 2017, infecting big corporations including hospitals, banks, and telecom companies.

WannaCryFake is a strain of ransomware that uses AES-256 to encrypt a victims files.

If youve identified that your system has been infected with the WannaCryFake malware, you might be able to use Emsisofts free tool to regain access to your files. Though, under no circumstances should you make contact with the hackers, the company says.

Its a pretty simple process too. Firstly, ensure youve removed the malware from your system, and then download Emsisofts decryptor.

Run the decryptor and ensure the hard drives/storage devices that have been encrypted are selected and click the decrypt button.

While decryption tools can help you recover lost files, they dont work all the time and sometimes experts just end up paying the hackers. Emisosft told Hard Fork that its decryptor has been 100 percent effective so far, based on reports of its use.

If off-the-shelf decryptors dont work for you, there are other things you can try.

Emsisoft, along with a host of other security organizations, is part of the No More Ransom project, a collaboration between law enforcement agencies and cybersecurity firms to help victims hit back at ransomware.

On the No More Ransom website you can seek more help from experts. Here, you can upload a couple of encrypted files and more details about the ransomware attack and the project will direct you to a solution, if one exists.

That said, perhaps the best method is to protect yourself against malware in the first place and ensure you make regular backups of your data.

If youre unlucky and have been hit by Bitcoin-ransoming malware, you can download Emsisofts decrypto here.

Sadly,Bitcoin-ransoming malware is quite prevalent. One strain of malware, Ryuk, managed to earn hackers more than $3 million inBitcoinover the first five months of the year. Its about time we put a stop to this, in any capacity we can.

Come say hi to the Hard Fork teamat our blockchain event. On October 15-17 in Amsterdam, hear from top experts as they discuss the industrys future.

Update September 26, 2019, 1345UTC: Emisoft replied to Hard Forks request for comment. The article has been updated to reflect this.

Published September 26, 2019 10:08 UTC

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Heres how to fight back against Bitcoin-ransoming malware - The Next Web

Here’s how to respond to dramatic shifts in HR technology – Human Resource Executive

Posted on October 1, 2019 by Danzig

Gerry Crispin and other HR Tech Influencers share their takes on how HR can stay on top of the coming shifts in technology.

Influence in HR technology comes from many places, takes many forms and continues to evolve over time. When the HRE/HR Tech Conference team met over to work on this Influencers list, we knew it would be important to consider all aspects of influence. Some have more of a direct and immediate effect on products, while others have a more subtle yet longer-term impact. Its safe to say all, however, are having an important and noticeable impact on where HR technology has been, where it is today and, perhaps most importantly, where it is heading. And that, above all else, informed the decision-making that went into compiling this list, which presents those being recognized in alphabetical order.

Click here to see the full list of the Top 100 HR Tech Influencers.

Gerry CrispinPrincipal and Co-founderCareerXroads

The vision of what is possible is shifting back to the HR and TA leaders. For decades it was mostly the technologist as entrepreneur who built HR solutions that they envisioned would satisfy a 21st century HR function. Today, increasingly, its the TA/HR/TM leaders, who now with years and years of experience and frustration managing those unfulfilled promises who are beginning to drivea new set of solutions.

Replicating flawed processes. Executing on solutions that simply make bad practicescheaper, and more efficient instead of rethinking what is possible with technology that makes a real difference for [all] the stakeholders.

Fully embrace automation that either tackles directly or allows for new approaches to candidate, employee or customer satisfaction. It is, for example, nearly impossible to provide a cost-effective means to offer feedback to candidates. Compliance, consistency and competency are major obstacles that automation and machine learning could solve in ways that would be easily measured in reduced cost of hiring downstream. A failure to aggressively pursue these possibilities will quickly change the landscape of successful employers in the next few years

Trish McFarlaneCEO and Principal AnalystH3 HR Advisors Inc.

Im going against the grain and saying the Core HR functions. For years, areas such as payroll, benefits, compliance and employee relations have been neglected compared to the focus and development spend on other areas of the people experience. Today, vendors are doing some very exciting, innovative development in the core areas. By not only further automating and adding better analytic capabilities in the core areas, but providing enhanced mobility, scalability and security, I predict this will be the season when organizations can be less hesitant on investing in new HCM technology.

I think the first big mistake organizations make is having vendor paralysis. They look at far too many vendors for far too long. The scope should be kept as specific as possible, then deep-dive with 3 top vendors. The second mistake is not being realistic about the amount of time needed to go through implementation. My recommendation is to determine how many hours you think your team will need to devote to the implementation process, then double it.

The most effective strategy is two-fold. First, communicate early and often. Be sure to start talking about the needs LONG before you buy a solution. Ensure that employees and leaders have an opportunity to weigh in on whether the perceived problems are the real problems. The second recommendation is to identify some of your biggest detractors, then pull them into the selection and implementation process. This should be people from every level of the organization. By getting known detractors on board, they become the trusted voice to convince the rest of the employees to use the new solution.

Katrina KibbenCEO and Co-founderThree Ears Media

Those mandatory, read now subject lines arent it! I recommend incorporating a technology onboarding with skill-based training. Youll not only upskill your team on the technical how-to but the techniques that will make the tool most effective.

Empathy. Every member of your organizations has been a job seeker before. Put them in the scenario and highlight whats broken. Most importantly, explain why that hurts the human on the other side of this exchange.

HR technology is creating more efficiencies that improve the overall communication for people on both sides of the equation. Were finally admitting that recruiting communications need to happen across channelsfrom email to mobile and social. Bonus: were even starting to track it.

Dan ShaperoVice President of Global SolutionsLinkedIn

Technology continues to transform the global talent marketplace, with the rise of automation (more than 50%of the activities in the U.S. economy are susceptible to automation) and the shrinking shelf life of skills. Were simply not operating under the same rules that were in place just five or 10 years ago. The majority of candidates (and jobs) can now be found online and via smartphones. Employees and job seekers are more informed about opportunities than ever before, making them more agile than ever. And, gone are the days where the skills an employee acquired while getting a college degree are enough to sustain them throughout a career. Led by this growing skills shortage, demographic shifts and the new rules of work, the competition for talent and getting hired has reached a new level.

In a market so noisy, data is a super power. Just think: Every function within an organization, from supply chain to finance, that has upped their game has used data to do so.As I meet one-on-one with companies big and small around the globe, what Ive learned is that every good leader knows that companies win or lose based on their people, or really, on the quality of their teams. But you cant build great teams if you dont know anything about the people on them. The challenge is, theres poor visibility into the talent companies have, the talent they need to find, and the talent they can develop. Only 8 percent of organizations report they have usable data about talent, and we know from our customers that the data they do have access to is often stale and disconnected. Backed by the right technology, HR leadersand their business partnerwill be armed with the data and insights they need to build teams that can navigate the changing world of work.

In a world driven by division and uncertainty, where employees have countless options and make career altering decisions in real-time, companies must act just as quickly to engage, develop and retain their employees. Employee engagement is quickly becoming one of the most important indicators in gauging organization health and employee happiness. Technologies, such as Glints people success platform, is built on a new approach that is changing the way organizations engage and develop their people. Through understanding employee sentiment and empowering managers with the right actionable insight companies can build stronger cultures where people are happier and can do their best work.

Ben BrooksFounder and CEOPilot Inc.

TALENT MANAGEMENT! HR tech has addressed the more commodity-like plumbing aspects of HR. Emerging technology is quickly moving to help address the more vexing elements of HR including: shaping culture, tapping into unrealized talent potential, empowerment of employees, greater self-directed work and other trends in the future of work. What were once elite professional service offerings for the top-of-the-house become democratized products that get scaled down the hierarchy. The business case for future HR tech will be less about reducing HR operational cost, and instead will be focused on increasing the ROI from the comp and benefits line, now the No. 1 expense in most service businesses.

We are too cautious in HR! I often see HR moving far too slowly and taking a backseat to other corporate functions. Traditionally HR is one of the laggards to adopt emerging technologies in the C-Suitejust compare us to marketing! We need to be more adaptable and quicker to deploy emerging technologies. I also notice that often times HR departments prematurely seek enterprise-wide solutions with cumbersome RFP processes before testing solutions with smaller groups to validate and enhance larger roll-outsor discover multiple solutions are needed. By being more adaptable and decisive, HR can truly be the change agents weve long aspired to be, breaking down barriers to innovation.

Do not make this about HR or the HR budget. This must be about the organizations strategy and driving performance as measured by the KPIs everyone focuses on. The technology you buy should be positioned to make the organization as a whole successful, not just the HR function. Saving 2% of the HR budget is peanuts compared to increasing the output of total people spend by 2%. Focus the technology investment towards solving persistent organizational problems and driving desired performance. And prove it with numbers! As Mike Bloomberg says: In God we trust; everyone else bring data.

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Here's how to respond to dramatic shifts in HR technology - Human Resource Executive

ESPN Pulls Out The Technology Stops For MLB AL Wild Card, Includes Statcast AI On ESPN2 – Forbes

Posted on October 1, 2019 by Danzig

ESPN will use a variety of technologies as part of the AL Wild Card broadcast, including the use of ... [+] their "4D Replay"

With the 2019 regular season in the books, today starts the MLB postseason with the airing of the American League Wild Card Game. For ESPN, who will air the game between the Tampa Bay Rays and Oakland As (8 p.m. ET), it gives them a chance to crack open their technology toolbox for both the average fan, and those that want to dig deeper into the numbers. For the first time, ever, ESPN will air not just a traditional broadcast on their flagship station, but a Statcast AI broadcast on ESPN2. The game will be called on ESPN by Matt Vasgersian, analysts Alex Rodriguez and Jessica Mendoza and reporter Buster Olney. On ESPN2, the game will see Jason Benetti do play-by-play with analyst Eduardo Perez and MLB Statcast analyst Mike Petriello. The Statcast broadcast was first experimented with as part of last years Wild Card game, and was also used as part of this years Home Run Derby, which ESPN said garnered good ratings for an add-on broadcast. ESPN will have a Statcast broadcast as an additional hour of Baseball Tonight on ESPN2; a first for the network. Benetti, Perez and Petriello will provide extended Statcast-based coverage preceding the game.

As to what technology fans will see across both broadcasts, it runs the gamut. To start, ESPN upgraded mid-season this year to all 1080p cameras which allows the game to be broadcast in 4K. Introduced last year, ESPN will use their K-Zone 3D to give a better perspective on balls through the strike zone at any angle. Using MLBs Statcast data, it lays over a computer-generated virtual ballpark. Additionally, the broadcast will see the use of ESPNs Hit Tracker that was first introduced during last seasons Wild Card game and used throughout this years regular season broadcasts. Like K-Zone 3D, it uses Statcast data to visualize the tracking of the ball as it leaves the bat, and most notably used for home runs to see launch angle and exit velocity of the ball off the bat. As to how critical Statcast data is to provide additional visualization and context, senior executives at ESPN said it was a game-changer.

Statcast Data Visualized for spray charts

Statcast is very important, said Mark Gross, ESPN senior VP of production. Its where the game is at with exit velocity, launch angle, and defensive shifts. And with baseball being such a stat driven game, the use of Statcast and other analytics provides us with additional resources for fans, as well as players, staff, and personnel as an additional lens to look through at the game.

There will also be what ESPN dubs as the Front Row Cam, a robotic camera that is situated in a narrow box and mounted in the field behind home plate and features robotic pan, tilt and zoom controls.

Statcast data used to show K Zone 3D

But if theres one technical aspect that has garnered the most buzz for ESPN and their baseball broadcasts, its the use of what they call 4D Replay. Introduced as part of the 2018 Home Run Derby broadcast, the system utilizes more than 100 4K cameras placed throughout the stadium surrounding home plate and the pitchers mound, capturing a 180-degree view of a batter at the plate and the pitcher on the mound. What it allows for the production team to do is rotate views around batter and pitcher in a stopped frame to see body position from a sweeping view.

As to how it ties all together, ESPN will leverage the tried-and-true story telling that comes with baseball broadcasts. The key is that visualized data adds one more piece of telling the game story which helps retain viewers in the hyper-competitive media landscape.

Whether its Statcast data visualized, 4D Replay, or storytelling, the additional technology is just one piece in the overall resources at our disposal to provide our viewers, Gross added. You take all of these aspects in our toolbox. At the end of the day, its our job to use them all to tell a story.

ADDITIONAL ESPN WILD CARD GAME INFO

For those that cant watch the game, ESPN has exclusive rights to the AL Wild Card Game on ESPN Radio. Dan Shulman will provide play-by-play with Chris Singleton providing commentary for the American League Wild Card Game on ESPN Radio. ESPN Radio will also provide coverage of the National League Wild Card Game Oct. 1 with Jon Sciambi and analyst Jim Bowden on the call at 8 p.m.

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ESPN Pulls Out The Technology Stops For MLB AL Wild Card, Includes Statcast AI On ESPN2 - Forbes

Three Trends Supporting The Rise Of Financial Technology Companies – Forbes

Posted on October 1, 2019 by Danzig

The increase in the power of technology, greater and more equal access to information and other factors have fostered unprecedented growth in the financial technology (fintech) industry. One report (viaGlobenewswire) estimated that the market would be worth $305.7 billion by 2023. Much of the innovation I've seen in the fintech space is coming from non-bank entities, such as venture-backed startups. In fact, research from CB Insights (via CNBC) found that VC-backed fintech companies raised $39.6 billion in 2018, which is a 120% increase from the previous year.

These companies are focused on leveraging technology and the power of the internet to create better solutions for their clients, such as those that offer lower asset management fees and greater transparency. Throughout my time working in the venture capital world, I was able to watch many high-growth technology companies. Many of the high growth potential companies I came across used the power of technology to disrupt industries in a similar fashion to the way I see fintech companies doing today. Here are three of the key trends I've noticed.

Leveraging Computers And Online Platforms

Through computers and online platforms, fintech companies such as Betterment are able to offer their clients traditional banking services as well as personalized products and services without even meeting them in person. And Wealthsimple recently launched an application called "Wealthsimple Trade," which allows anyone in Canada to buy and sell stocks with $0 commissions. Compared to commissions many traders charge, this advancement is significant.

Fintech companies may be able to build better client solutions by allocating more of their internal resources to hiring software engineers. These software engineers can then build scalable services and investment products. Unlike traditional banks with physical locations on every corner, fintech companies communicate with their clientele strictly (or primarily) through technology, which could save them money -- which, in turn, can save their users money. That's a win, win situation.

Developing Analytical Tools

Rapid progressions in technology have fostered the creation of analytical tools that can collect and integrate data to support decision making, risk management and process optimization. Today, fintech companies with agile and scalable quantitative investment strategies could challenge the ability for traditional money managers to deliver value and justify their rates. Even some larger Canadian banks are catching onto this trend and are adding technological tools and fintech solutions to their offerings. One of these banks is BMO, with their robo-advisor BMO SmartFolio.

Removing Financial Barriers

Fintech companies are evolving at a fast pace and removing barriers the financial world. For example, Wealthsimple helped innovate on the financial landscape in Canada by eliminating account minimums. Additionally, fintech companies like Nest Wealth, WealthBar and ModernAdvisor -- online wealth management and financial advisory companies -- offer benefits like financial advice and access to an advisor or manager with their fees. At traditional banks, access to a financial planner or advisor can be quite costly and eat away at the wealth that you're trying to build. Creating solutions through technology has allowed these fintech companies to contend with long-standing banks and investment firms.

To be clear, I believe active investment managers play a key role in the financial markets. However, they may be handicapped by higher fees and costs when compared to the services offered by fintech companies. While an investment manager can only offer their solutions to a limited number of clients in a given period, the tools and programs that underpin financial technology investment firms can generally be offered to more individuals without any effect on their functioning. Technology has increased the speed and quality of information flow and removed geographical constraints, allowing fintech firms and other tech companies to appeal to individuals with lower fees and easier communication.

I am very interested to see what the next few years have in store for the fintech space. I believe we will see continued growth and investment into non-bank entities and startups who are using the power of technology to create better solutions than those offered in the market today. Although the future of fintech is very promising, there are certainly still challenges -- for example, a 2017 report from the Ontario Securities Commission found that 53% percent of Canadian millennials have no investments. As more fintech startups emerge and banks such as BMO and RBC (with a mobile app and online calculators) release their own technology solutions, I am optimistic that these hurdles will be overcome. Overall, individuals should be excited to see the continued rise of fintech companies as they can reap the benefits of better financial solutions.