Crypto Credibility (& Why Gold Makes Sense For Russia)

Last Monday, there was a striking headline in the Daily Telegraph: “Russia looks to bitcoin to soften effects of US Sanctions”. The immediate impact on bitcoin’s price was minimal, though it did rise 4.2% later in the day, after Zerohedge picked up the story.

The Telegraph’s source seemed credible. Vladislav Ginko is an economist at the Russian Presidential Academy of National Economy and Public Administration, which is the training ground for Russia’s political and administrative elite, a Russian equivalent of France’s École Nationale d’Adminstration.Professor Ginko appears to be a firm believer in bitcoin and its technology, and he seems well-connected. But it is not a brand-new story. Earlier this month he tweeted the following:

However, Professor Ginko perhaps should not be taken too seriously, being either a conspiracy theorist or perhaps a joker, as the following more recent tweet reveals:

Putting this bizarre allegation to one side, he has reminded us that President Putin has expressed an interest in cryptocurrencies and blockchain technology. The point missed in Professor Ginko’s tweets is that one way to destabilise the dollar would be to encourage a new bull market in cryptocurrencies, which could be the strategic logic behind a Russian move. It is not, as implied by Professor Ginko, that bitcoin is about to take its place alongside Western currencies in Russia’s currency reserves. Furthermore, the idea that Russia is seriously considering adding $10bn of bitcoin to reserves does not ring true, given it would be more likely to quietly accumulate them first instead of boasting about an intention and paying higher prices.

It may be just coincidence, but bitcoin’s vicious bear market broadly coincided with the US dollar’s recovery, which commenced only a month after bitcoin’s peak in December 2017. Recently, the dollar has shown signs of entering a new bear phase, in which case a negative correlation suggests bitcoin might begin to recover, and with other credible cryptocurrencies become to be seen as an alternative to the king of fiat.

Cryptocurrencies have disappeared from most people’s radar screens. While public attention has drifted elsewhere, it is clear that professionals are still working on solutions to identify and control risks at a time of market quietness. These are the generic market conditions usually identified with the prospect of a renewed bull phase.

Crypto criminal cleansing continues

For the moment, it might too early to expect cryptocurrencies to be ready for a lasting revival. The 2017 bull market blow-off exposed excessive greed, signalling the start of a probable multi-year bear market, or even the end of the entire phenomenon. Over a thousand cryptocurrencies were in existence by early 2018, issued mostly by wannabe Satoshis. Today it is estimated there are over 1,600.

In recent years exchanges and other service providers have been closed amid accusations of fraud and money-laundering. Freedom from national boundaries and the laws that go with them have undoubtedly contributed to criminal activity both real and imagined. On Monday this week, SlowMist, a Chinese-based blockchain security firm, reported suspected money-laundering in ethereum classic (ETC), in its newsfeed reproduced below:

ETC Network Is Abnormal, Large Transactions Suspected of Money Laundering 0735

Monitored by China-based blockchain security firm SlowMist, there was a large amount of abnormal miners' rewards on the ETC public chain in the early morning of Jan 14 (UTC+8). Further analysis revealed that the abnormal rewards resulted from the address starting with 0xb71ee622 that holds approximately 72,383 ETC. The address paid a huge transaction fee for a large number of transactions, and the large amount of high fees were taken by the miner's address starting with 0x00473. The miner transferred out the mining revenue in real time, which is suspected of money laundering.

The previous week, SlowMist got to the bottom of a rollback attack on ETC. Hackers deploy a rollback attack by resetting protocols to an earlier point in time, so they can alter a blockchain’s transaction history to clone cryptocurrency. SlowMist identified the exchanges involved and all of them have now returned the extra ETC, as declared in the following tweet on Wednesday, 16 January:

It is worth noting that the detectives in this story are China-based, which illustrates how markets left to their own devices lead to responsible cooperative behaviour, irrespective of nationality and national boundaries. You won’t hear this from governments, for whom this invisible hand of market forces is inexplicable and not to be trusted.

Defining cryptocurrencies and their role as currency

rest at link

https://www.zerohedge.com/news/2019-01-18/crypto-credibility-why-gold-makes-sense-russia

Businesses look to smooth way for jump in foreign workers to Japan

The Yomiuri Shimbun With Japan set to begin accepting more foreign workers from April, more companies are extending support to foreigners in areas such as visa acquisition, administrative procedures and securing accommodations, aiming to make it easier for them to settle in the country.

Prestate, a Tokyo-based start-up focused on real estate development, has since last year been promoting a plan to renovate vacant private houses and other buildings into company housing for foreign workers. It aims to transform 100 such buildings across the country into company housing for foreigners within the year.

On Wednesday, a 25-year-old Nepalese man moved into company housing arranged by Prestate in Hadano, Kanagawa Prefecture. Monthly rent including heating and electricity is ¥30,000 (about $275). That includes an air-conditioned private room and kitchen, as well as access to a common area with a refrigerator and microwave.

“The apartment I lived in before was not air-conditioned. I’ll be comfortable living in this company housing because the walls and bed are clean,” he said.

In many cases, when renting an apartment or condominium, it is difficult to contract with a landlord if a guarantor cannot be secured. As a result, especially for foreigners with no relatives in Japan, finding accommodations can be a challenge.

However, through a rental contract between a company housing operator and the company employing foreign workers, it becomes possible for all the workers to move into the housing at once, solving the difficult hurdle of finding accommodations in Japan.

A Prestate executive director said, “Our business helps solve the problem of vacant houses that are a serious concern in rural areas.”

According to a survey by the Internal Affairs and Communications Ministry, the number of households of foreign nationals is rapidly increasing, reaching 1.39 million as of January 2018 — an 11 percent increase from a year earlier.

With the revised Immigration Control and Refugee Recognition Law taking effect in April, about 340,000 more foreign nationals are expected to arrive over the next five years.

rest at link

http://the-japan-news.com/news/article/0005489822

>>4818723

concur. Been using turmeric for many years. before you could buy it in pill form. It takes a few weeks to notice anything but it does work.

ASEAN ministers reach vague consensus over Rohyinga, China

The Associated PressCHIANG MAI, Thailand (AP) — Foreign ministers of the 10-member Association of Southeast Asian Nations on Friday hewed to the group’s practice of reaching the least provocative consensus possible in discussions of such divisive issues as Myanmar’s Rohingya crisis and China’s territorial claims in the South China Sea.

A two-day Foreign Ministers’ Retreat was the regional group’s first meeting since Thailand took over its annual chairmanship.

The host’s summary of the meeting emphasized the humanitarian role ASEAN members could play in Myanmar’s Rakhine State, where more than 700,000 members of the Muslim Rohingya minority fled from a brutal government counterinsurgency campaign.

Standard ASEAN practice is to avoid criticizing what are considered each country’s domestic affairs. But Myanmar’s Rohingya crisis is also a regional problem, because of the hundreds of thousands of refugees it has generated, justifying discussion by the group.

ASEAN has plans to send a team to Rakhine, but Thai Foreign Minister Don Pramudwinai at a closing news conference said its mission had been delayed because of a stalemate on the ground.

“Once things are cleared, then you will be seeing more visibly the presence of the collective ASEAN efforts in Myanmar and Rakhine State,” he said.

Don said the group suggested that Myanmar should “address the root causes of the conflict” and create “a conducive environment” so that affected communities can rebuild their lives.

Myanmar has previously acknowledged similar suggestions but done little to act on them.

ASEAN offered to act as a coordinator with U.N. agencies on the planned future repatriation of the Rohingya currently sheltering at camps in Bangladesh, Don said.

Many Rohingya are reluctant to return without more guarantees of safety and the prospect of obtaining citizenship, which is generally denied to them.

Myanmar was represented at the meeting by Minister for International Cooperation Kyaw Tin. Its foreign minister is Aung San Suu Kyi, but she is also the country’s executive leader and often delegates foreign minister duties to others.

The ministers also claimed progress on concluding a Code of Conduct in the South China Sea, long touted as a way of avoiding volatile confrontations in the disputed waters.

rest at link

http://the-japan-news.com/news/article/0005490031

Oxford suspends funding from Huawei

LONDON (AP) — Oxford University said it is suspending research grants and funding donations from Huawei amid growing security concerns about the Chinese telecom giant.

It’s another setback for Huawei’s image in Europe, an important market for the company, which has been effectively blocked in the United States over concerns its technology poses a cybersecurity risk. It’s now facing increasing scrutiny in Europe, where it is expected to play a major role in building new fifth-generation mobile networks.

The university decided on Jan. 8 that “it will not pursue new funding opportunities” with Huawei or related companies, it said in a statement Thursday.

The decision, which applies to both funding of research contracts and philanthropic donations, was made “in the light of public concerns raised in recent months” surrounding the company’s British partnerships.

Two existing research projects worth a combined £692,000 ($895,000) will continue, it said.

“We hope these matters can be resolved shortly and note Huawei’s own willingness to reassure governments about its role and activities,” the university said.

Huawei said it was “not informed of this decision” and awaits the university’s full explanation.

Britain’s defense secretary and its intelligence chief both voiced concerns last month about Huawei’s involvement in the country’s rollout of 5G networks. Huawei’s troubles are expanding elsewhere in Europe. The company fired its sales director in Poland last week after authorities there arrested him on charges of spying for China. The Czech Republic has warned against using Huawei equipment because of security fears and Norway is rethinking Huawei’s role in its telecom networks.

http://the-japan-news.com/news/article/0005489841

>>4818796

wherever they want to!

who is going to stop them

>>4818809

>>4818824

peace for you and your's sa.

>>4818794

>>4818924