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Brave, a browser that improves browsing speed by eliminating unwanted ads has generated largely positive feedback from users. Brave was developed as a solution for web users frustrated with the pervasive advertising that slows data connections and clogs web pages with tracking pixels, scripts and ads. Many users also appreciate the fact that the Brave browser […]

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On October 4, at the Distributed: Health conference in Nashville, Tennessee, Gem CEO and co-founder Micah Winkelspecht announced the...

The post GemOS: Automating the Healthcare Industry Using Blockchain appeared first on Bitcoin Magazine.

Hashed Health, a new collaborative healthcare innovation company, has announced a major partnership with Martin Ventures, a global leader in...

The post Hashed Health Partners With Martin Ventures to Propel Healthcare Industry Into the “Blockchain Age” appeared first on Bitcoin Magazine.

Risky markets and incapable central banks could drive investors into the arms of bitcoin, asset manager Bill Gross opined in a recent note.

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Richard Branson, Virgin Group founder and billionaire entrepreneur, said yesterday at an event in London that the blockchain technology could create an ‘economic revolution’ to numerous countries worldwide. At the Virgin Disruptors Week in London, Branson took some time out to talk about the potential of blockchain and how it’s being used, reports CNBC. During […]

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Calling electronic voting “inevitable,” a new paper by Philip Bucher for the European Parliament speculates on the possibility of Bitcoin’s revolutionary blockchain technology to bring transparency, efficiency, and greater fairness to elections in its various member democracies. The paper first notes that because electronic voting is in its infancy, there are still many unknowns, but […]

The post EU Parliament Asks “What If?” for Bitcoin Blockchain-Based Elections appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin is an example of a new innovation that will see the current financial infrastructure governed by central banks challenged, as the current negative/zero interest rates threaten capitalism itself, says billionaire Bill Gross, the financial manager who runs the Janus Global Unconstrained Bond Fund. In his latest investment outlook letter released today, billionaire bond manager […]

The post Go with Bitcoin, Skip Central Banks, Says Billionaire Finance Manager Bill Gross appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The Sydney Stock Exchange (SSX) has successfully prototyped its open blockchain ledger for real-time issuance and allocation of equity security, within a month after confirming the project. Following its mid-September confirmation that it is pressing ahead to build an open, public blockchain platform that will reduce settlement times of trades and equities, the Sydney Stock […]

The post Sydney Stock Exchange Public Blockchain Sees Successful Prototype appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bill Gross is going after central bankers... again.

The famed bond investor at Janus Capital released his monthly outlook for October on Tuesday and again compared the world's central banks to a dangerous game, this time blackjack.

Gross noted the theory of a Martingale System in which a bettor in a casino will eventually win if they continually increase the size of their bets.

Gross then compared the world's largest central banks — the Federal Reserve, Bank of Japan, and European Central Bank — to one of these gamblers, calling them "Martingale gamblers without a purse."

"Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today’s highly levered world," wrote Gross in the outlook.

Of course in theory these banks can continue to print money and purchase assets and drive down bond yields until they hit their goals, Gross noted. There is no theoretical limit to them doing so, as there is no theoretical limit to how high the bet for a Martingale gambler can be.

"An interesting counter to my Martingale characterization of central bankers is in fact that they do have an unlimited bankroll and that they can bet on the 31st, 32nd, or 'whatever it takes' roll of the dice," noted Gross. "After all, their cumulative balance sheets have increased by $15 trillion+ since the Great Recession. Why not $16 trillion more and then 20 or 30?"

The issue is these central banks do not work in a theoretical world, and eventually the savings erosion from negative yields will cause pain for investors and damage the world's financial markets, in Gross' opinion. Here's Gross (emphasis added):

"I think that the latter contention is true, but central bankers cannot continue to double down bets without risking a 'black' or perhaps 'grey' swan moment in global financial markets. At some point investors – leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives. Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms. Gold would be another example – historic relic that it is. In any case, the current system is beginning to be challenged."

All of this is to say that central banks cannot keep rates this low forever. Which, given that the Fed is already hiking and that the ECB has recently signaled that it may bring its asset purchases to an end, many central banks have already recognized this.

Gross goes on to say that these policies threaten "capitalism itself" since capital can no longer be efficiently allocated.

"Central bankers have fostered a casino like atmosphere where savers/investors are presented with a Hobson’s Choice, or perhaps a more damaging Sophie’s Choice of participating (or not) in markets previously beyond prior imagination," concluded Gross. "Investors/savers are now scrappin’ like mongrel dogs for tidbits of return at the zero bound. This cannot end well."

SEE ALSO: Hillary Clinton rips into Wall Street and corporate America in a fiery speech

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NOW WATCH: KRUGMAN: Obamacare was done 'on the cheap' and now it is struggling

A deep dive in how CGI is turning its Ripple validator node into an offering for 2,500 financial clients.

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Peter Rizun, known to many simply as “Peter R.,” made a recent summary post on Medium outlining a way for projects which aim to scale within the framework of Bitcoin Unlimited. Bitcoin Unlimited is an ongoing fork of the Bitcoin project which allows for larger blocks. It is an answer to an ongoing debate about […]

The post Bitcoin Unlimited to Provide “Several Hundred Thousand Dollars” for Bitcoin Projects appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin Press Release: DECENT and Naughty America will work together to create a blockchain based Digital Rights Management solution for IP and privacy protection. October 3, 2016 Geneva, Switzerland – The Swiss Blockchain Company, DECENT and Naughty America, one of the major adult content production companies in the USA have agreed to work on a […]

The post DECENT and ‘Naughty America Productions’ Partner to Create a Blockchain-based Content Distribution Platform appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin Press Release: mBit Bitcoin Casino has announced a new bonus program offering unlimited 25% reload bonus on deposits made every Monday. October 2, 2016, Curacao – mBit Casino, a Bitcoin casino platform known for its unique promotions, unmatched VIP program, and friendly 24/7 live support, has taken a giant leap forward with its new […]

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