Coin News

CoinDesk has spoken to various bitcoin companies to breakdown the cost of the BitLicense application process both in monetary and non-monetary terms.

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Changes are coming to small business retirement plans (Reuters)

Reuters reports approximately half of US states are "working to create government-sponsored automatic individual retirement account (IRA) plans that would enroll workers without access to employer-sponsored retirement plans." According to Reuters, California and Illinois are among the states that have taken the lead on this initiative and are hoping to begin enrollment in 2017. It has yet to be determined if the Employee Retirement Income Security Act (ERISA) will provide regulatory protection for the retirement accounts. The Federal Reserve Board's triennial Survey of Consumer Finances released in September 2014 the percentage of US households with any type of retirement account has fallen from 48% in 2007 to 40% in 2014.

The Atlanta Fed lowered its Q3 GDP forecast (Federal Reserve Bank of Atlanta)

The Federal Reserve Bank of Atlanta lowered its third quarter GDP forecast to up 0.7% from its previous estimate of up 0.9%. The Federal Reserve Bank attributes the downward revision to inventory investment, which shaved off 2.2 percentage points. This more than offset the upward revision to consumer spending.  

S&P putting Berkshire Hathaway on 'negative watch' is impacting muni bonds (Bloomberg)

On Tuesday, S&P placed Berkshire Hathaway on "negative watch," meaning its AA+ rating has a 50% chance of being downgraded in the next three months. The move by S&P has sent ripples across the muni bond market as data compiled by Bloomberg shows the rating agency has shifted its focus towards the 966 securities backed by Berkshire for possible downgrades. According to Bloomberg, Berkshire's AA+ rating is the highest among bond insurers rated by S&P. 

A brokerage firm was trading against its clients (Business Insider)

Electronic brokerage firm ITG has admitted to trading against its clients. The SEC said the firm set up a secret trading desk called "Project Omega," which "misused highly confidential customer order and trading information for its own benefit." The trading desk was launched in 2010 and brought in about $2.1 million in revenue before being shut down in July 2011. 

Edward Jones settles muni fraud charges with SEC (Wealth Management) 

Edward Jones has agreed to pay $20 million to the US Securities and Exchange Commission to settle charges the firm overcharged customers for new municipal bond issues. According to Wealth Management, "the former head of Edward Jones’ municipal underwriting desk, Stina R. Wishman, improperly procured new bonds for the firm's inventory and then offered them to customers at inflated rates" from 2009-2013. The SEC says clients bought 156 separate bonds at a price of at least $4.6 million over face value. Edward Jones neither admitted nor denied the allegations as part of the settlement. 

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Different countries face different problems.

Some nations struggle with security issues, while others are crippled by ineffective governments.

With that in mind, the Economist Intelligence Unit assessed risk across 180 countries around the world in terms of various indicators.

We put together world maps from the EIU that present risk scores for several different factors, as well as one for overall risk.

Check them out below.

SEE ALSO: Here's what the 'spectrum of pain' looks like for the 12 members of OPEC

Somalia is the most risky country in terms of security, followed by Syria, and Iraq.

Somalia has been struggling to rebuild itself after 25 years of civil war, during which the country was without a formal parliament. 

Meanwhile, Iraq is has seen increased violence due to ISIS, and Syria continues to be plagued by a civil war.

Source: EIU

However, in macroeconomic terms, Iran, North Korea, and Sudan are the most risky.

Iran is the wild card on the world stage as investors, politicians, and regular citizens anxiously await sanctions relief. Additionally, everyone's unsure what the return of Iranian oil means for the markets.

Meanwhile, North Korea continues to be largely closed off from the rest of the world, and extremely-poor Sudan lost approximately three-fourths of its oil production after South Sudan seceded in 2011.

Source: EIU

Somalia is also number one risky in terms of government effectiveness, followed by Syria and Turkmenistan.

Somalia's president is currently facing accusations over corruption. Most recently, over 90 Somali lawmakers "lodged a vote of no confidence in President Hassan Sheikh Mohamoud, accusing him of violating the constitution," according to a report by Bloomberg.

Meanwhile Turkmenistan's leader granted himself unlimited power and misuses the revenues from the nation's vast energy reserves.

Source: EIU

Bitcoin price looks like it may make a drop to new lows, but then again, gold is pushing higher; actually the US dollar is strengthening - oh, wait the yuan is being devalued... The pushes and pulls on prices are extreme. Like Cargo Cult members expecting the best or the worst, bitcoin traders are left unsure in a vacillating market. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 16h40 UTC OKCoin Bitcoin […]

The post Bitcoin Price Keeps The Market In Suspenders appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

A 30-year-veteran of the US National Security Agency (NSA) has joined the board of advisors at New York-based bitcoin exchange itBit.

itBit, a bitcoin exchange that leverages block chain technology with traditional capital infrastructure, named two financial technology veterans to its board of directors: Jim Manzi and Ed Giorgio. Manzi is former chairman and CEO at Lotus Development Corp., while Giorgio is a National Security Agency (NSA) veteran and co-founder of Ponte Technologies. “Jim and Ed are important additions for itBit, which will benefit from their extensive expertise developing products and growing companies in the technology sector,” said Chad Cascarilla, itBit’s CEO and co-founder. Jim brings over 20 years of investment experience developing and advising technology companies, and Ed’s expertise in cryptography and […]

The post Bitcoin Exchange itBit Adds NSA Codebreaker and Technology Veteran to its Board of Directors appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

In April, Bitcoin Magazine reported that UBS was planning to investigate blockchain technology in a new innovation lab based in London. The innovation lab located in Level39, Europe’s largest technology accelerator space for finance and cyber-securities, focuses on exploring the role of blockchain technology in financial services. “Our innovation lab at Level39 will provide a unique platform to explore emerging technologies such as blockchain and cryptocurrencies, and to understand the potential impact for the industry,” said UBS Group CIO Oliver Bussmann. UBS, a Swiss global financial services company with its headquarters in Basel and Zürich, Switzerland, provides investment banking, asset management and wealth management services for private, corporate, and institutional clients worldwide. Operating in more than 50 countries with about 60,000 […]

The post UBS Launches Future of Finance Challenge for Fintech Entrepreneurs and Startups appeared first on Bitcoin Magazine.

Launched today, HashPool offers both GEO-IP load balanced, Stratum and P2P mining pools and is seeing higher payouts than other leading pools with a more user friendly, intuitive and functional system then seen in rest of the market. HashPool has undergone extensive testing and improves on features from the top 10 current Bitcoin mining pools worldwide. HashingSpace’s mission is to build out key infrastructure for the global adoption of Bitcoin including Bitcoin Mining Farms, ASIC Miner Colocation, ATM’s and Wallets. WENATCHEE, WA / August 12, 2015 / HashingSpace Corporation (OTCQB: HSHS), a Bitcoin ASIC mining and hosting company, announced today that it has launched a new public Bitcoin mining pool called HASHPOOL. This mining pool is accessible to anyone on […]

The post HashFin Corporation a wholly owned subsidiary of HashingSpace Corporation Launches Bitcoin Mining Pool – HASHPOOL.COM with iOS and Android Apps for Bitcoin Miners appeared first on Bitcoin Magazine.

There are plenty of people who believe they can predict the future of Bitcoin, but no one can really say for sure what will happen over the next five to 10 years. Some say that bitcoin will become the new reserve currency of the world, while others say issues involving scalability or regulation will eventually get in the way. Although no one can know what will happen, it’s still useful to analyze where Bitcoin has been, where it is right now, and where it may go in the future. Dave Hudson, who is vice president of software architecture at Peernova and previously worked at Qualcomm, was recently interviewed on the Epicenter Bitcoin podcast, where he was asked about his thoughts […]

The post Former Qualcomm Engineer on the Future of Bitcoin Mining: Decentralize the Pools appeared first on Bitcoin Magazine.

Coinbase has submitted an application for a BitLicense in New York State, making it one of the leading bitcoin businesses to seek the necessary regulatory approval. Coinbase advised CCN of its action in the wake of plans by other cryptocurrency businesses – such as LocalBitcoins, BitFinex and Kraken – to bolt New York due to the controversial regulation. The law prohibits the sale of bitcoin without a license. “We can confirm that Coinbase has submitted a BitLicense application,” a Coinbase spokesman told CCN. “The process was a significant undertaking, but we're fortunate to have the internal resources and competent team […]

The post Coinbase: We Have Applied For a New York BitLicense appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

As the impact of China's historic currency devaluation ripples throughout global markets, entire countries remain on edge and opinion on the long-term effects are mixed.

"This devaluation is obviously negative for companies who sell to China," Credit Suisse's Andrew Garthwaite said in a note to clients. "Clearly, this is a bigger problem for companies with a transactional mismatch i.e. those which do not produce all their goods locally."

But even companies that do produce their goods locally face deteriorating local demand from China's slowing economy.

Garthwaite and his team identified 19 US companies with significant sales exposure to China. There are a number of big name companies on the list — GM, Ford and Apple — but the biggest loser seems to be the semiconductor industry. 11 of the 19 companies are semiconductor firms, which supply small components for a variety of technologies.

Below are the 19 stocks, including Credit Suisse's rating for each stock and comments on China from the latest earnings call from the company.

SEE ALSO: EL-ERIAN: China made the right move, but at the wrong time

Xilinx

Ticker:
XLNX

Industry:
Semiconductors

Percentage of Total Sales made in China:
24%

Credit Suisse rating:
Neutral

Executive comments: "While we do expect improvement in the second half of fiscal ‘16 from increased spending in China, North America and India, the rate of improvement remains difficult to forecast," said CFO Jon Olson.

Ford Motor

Ticker:
F

Industry:
Auto and Truck Manufacturing

Percentage of Total Sales made in China:
24%

Credit Suisse rating: 
Neutral

Executive comments: "So we’re still very bullish on China, but it’s going to go through its fluctuations and that’s what happens in emerging markets and we’re going to work our way through it in a positive way, and grow the business," said CEO Mark Fields.

Sealed Air Corp

Ticker:
SEE

Industry:
Non-Paper Container and Packaging

Percentage of Total Sales made in China:
29%

Credit Suisse rating:
Outperform

Executive comments: "In Asia Pacific, double-digit growth in India and Australia was partially offset by softness in China," said CEO Jerome Peribere.

Police in the Netherlands are appealing for witnesses to find a person who is planting explosives and requesting a bitcoin ransom. According to the police, the first attacks took place in May, when the perpetrator placed explosive devices in three different Jumbo supermarkets – a chain of stores belonging to the Van Eerd Group – […]

BetChain, already one of the largest Bitcoin casinos in the world, has officially integrated the 10th language into its site, more than any of its competitors. BetChain has placed an emphasis on availability to as many casino players around the world as possible, and with such a diverse range of languages, BetChain has become the most international Bitcoin casino. With the addition of its latest language, BetChain Bitcoin Casino is now available in Swedish, in addition to many other top European languages such as German, Dutch and Spanish. Whether you’re looking for a top German online casino spiele or perhaps […]

The post BetChain: the Most International Bitcoin casino. appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

A new blockchain startup has claimed its software could have tracked down Silk Road mastermind Dread Pirate Roberts in a matter of days.

We are focusing more and more on the financial aspect of Bitcoin and other cryptocurrencies. We are therefore looking for a developer that can join the CCN team and start developing a Market Cap list of the following cryptocurrencies: Bitcoin Litecoin Dogecoin Ethereum Dash Bitshares Stellar Peercoin Maidsafecoin Monero Namecoin (Forgot a few? Enter a comment below on why we should include your cryptocurrency. We only want to feature the most traded cryptocurrencies) And we want multiple tickers showing cryptocurrency prices and movements + stock markets and fiat currencies (examples on investing.com). If you got what it takes, contact me. […]

The post Searching for a Developer: Market Cap & Financial Tickers appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

We are focusing more and more on the financial aspect of Bitcoin and other cryptocurrencies. We are therefore looking for a developer that can join the CCN team and start developing a Market Cap list of the following cryptocurrencies: Bitcoin Litecoin Dogecoin Ethereum Dash Bitshares Stellar Peercoin Maidsafecoin Monero Namecoin (Forgot a few? Enter a comment below on why we should include your cryptocurrency. We only want to feature the most traded cryptocurrencies) And we want multiple tickers showing cryptocurrency prices and movements + stock markets and fiat currencies (examples on investing.com). If you got what it takes, contact me. […]

The post Searching for a Developer: Market Cap & Financial Tickers appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

We are focusing more and more on the financial aspect of Bitcoin and other cryptocurrencies. We are therefore looking for a developer that can join the CCN team and start developing a Market Cap list of the following cryptocurrencies: Bitcoin Litecoin Dogecoin Ethereum Dash Bitshares Stellar Peercoin Maidsafecoin Monero Namecoin (Forgot a few? Enter a comment below on why we should include your cryptocurrency. We only want to feature the most traded cryptocurrencies) And we want multiple tickers showing cryptocurrency prices and movements + stock markets and fiat currencies (examples on investing.com). If you got what it takes, contact me. […]

The post Searching for a Developer: Market Cap & Financial Tickers appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

We are focusing more and more on the financial aspect of Bitcoin and other cryptocurrencies. We are therefore looking for a developer that can join the CCN team and start developing a Market Cap list of the following cryptocurrencies: Bitcoin Litecoin Dogecoin Ethereum Dash Bitshares Stellar Peercoin Maidsafecoin Monero Namecoin (Forgot a few? Enter a comment below on why we should include your cryptocurrency. We only want to feature the most traded cryptocurrencies) And we want multiple tickers showing cryptocurrency prices and movements + stock markets and fiat currencies (examples on investing.com). If you got what it takes, contact me. […]

The post Searching for a Developer: Market Cap & Financial Tickers appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

We are focusing more and more on the financial aspect of Bitcoin and other cryptocurrencies. We are therefore looking for a developer that can join the CCN team and start developing a Market Cap list of the following cryptocurrencies: Bitcoin Litecoin Dogecoin Ethereum Dash Bitshares Stellar Peercoin Maidsafecoin Monero Namecoin (Forgot a few? Enter a comment below on why we should include your cryptocurrency. We only want to feature the most traded cryptocurrencies) And we want multiple tickers showing cryptocurrency prices and movements + stock markets and fiat currencies (examples on investing.com). If you got what it takes, contact me. […]

The post Searching for a Developer: Market Cap & Financial Tickers appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Launched today, HashPool offers both GEO-IP load balanced, Stratum and P2P mining pools and is seeing higher payouts than other leading pools with a more user friendly, intuitive and functional system then seen in rest of the market. HashPool has undergone extensive testing and improves on features from the top 10 current Bitcoin mining pools worldwide. HashingSpace’s mission is to build out key infrastructure for the global adoption of Bitcoin including Bitcoin Mining Farms, ASIC Miner Colocation, ATM’s and Wallets. WENATCHEE, WA / August 12, 2015 / HashingSpace Corporation (OTCQB: HSHS), a Bitcoin ASIC mining and hosting company, announced today […]

The post HashFin Corporation a wholly owned subsidiary of HashingSpace Corporation Launches Bitcoin Mining Pool – HASHPOOL.COM with iOS and Android Apps for Bitcoin Miners appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

A white-hat hacker has released a new tool designed to illustrate the ease with which illicit actors can steal bitcoins from brainwallets.