Recently, the company had been suffering thanks to what executives felt was a lack of enthusiasm for crypto due to its lagging prices as of late. The company had not been selling as much crypto-mining equipment, and there were fears that that division would ultimately shut down. However, the company appears to have made a serious comeback in divisions like gaming.
Sales of its crypto-mining tools have also improved now that bitcoin and other major forms of crypto have been experiencing price swells. Co-founder and CEO Jensen Huang commented:
NVIDIA is back on an upward trajectory. We’ve returned to growth in gaming, with nearly 100 new GeForce Max-Q laptops shipping, and NVIDIA RTX has gained broad industry support, making ray tracing the standard for next-generation gaming.
NVIDIA now says it projects sales of approximately $2.55 billion for its second quarter. This is better than its original trajectory of $2.53 billion.
Wall Street analyst Harlan Sur did a study of NVIDIA and published his findings:
Although GPU channel inventories have largely normalized in the April quarter, gaming growth also appears to be held back somewhat by the well-known notebook CPU shortages, impacting the initial ramp of its notebook business. However, we expect seasonal growth in gaming (augmented by ramp of second-generation Nintendo Switch) for the remainder of the year. In datacenters, the team noted that the July quarter guidance was softer than what they had originally anticipated due to large CSPs going through a period of digestion. However, we believe this view was largely expected as other large compute semiconductor companies such as Intel have guided towards a later recovery during their recent earnings call, which points to more of a 3Q and onwards type of recovery with stronger growth in 2020.
NVIDIA Just Keeps Growing
Other analysts also weighed in on NVIDIA’s success. Christopher Rolland, for example, echoed some of Sur’s sentiment by stating:
Somewhat surprising, implied gaming guidance beat our expectations, helped in part by a strong return of Nintendo Switch sales as the Japanese company is expected to launch a cost-reduced version of the device. While CPU shortages weighed a bit, management announced 100 notebook wins as their new laptop parts gain further traction (up from 40 announced at CES). While we previewed the many issues with GPU in the data center in C1H19 (primarily hyperscale digestion), we were positively surprised by the strong narrative around a ramp in their T4 inferencing product… Overall, it has been a harrowing few quarters, but we remain long-term bulls on NVIDIA as we believe in the AI inference opportunity, the proviz upgrade cycle, and 7nm refresh coming this fall.
Ethereum has always been well known for its smart contracts and technical capabilities, and that reputation is spreading to some of the biggest retailers and financial companies out there.
A Network That’s Known for a Lot
Among the new companies that are building or have built business platforms across the Ethereum Network include JPMorgan, Amazon and Microsoft Azure. JPMorgan, for example, used the Ethereum Network to build its digital USD, which ultimately came to be known as JPM Coin. It was a strange sight in many ways, considering the CEO and Chairman of JPMorgan Chase Jamie Dimon had repeatedly let the public know of his distaste for crypto in the past.
JPMorgan says that it wants customers to have the opportunity to tokenize fiat “instantly and confidentially.” JPM Coin is also allegedly a stable currency, meaning it’s tied to USD and thereby less prone to the volatility one often witnesses with bitcoin and other mainstream forms of crypto. JPMorgan has also stated that it is looking to expand its blockchain division through the end of the year.
In the case of Amazon Web Services (AWS), the company has used the Ethereum platform to develop a new “open-blockchain standard” by adding it as an “option for its Amazon Managed Blockchain.” While ether tokens cannot be used to pay for items or services through Amazon, a new system supporting Ethereum is expected to be released sometime during the summer months.
Amazon’s goals are to give several companies an opportunity to add blockchain technology to their platforms without developing the technology themselves. Amazon also seeks to support millions of transactions at once through the new network.
Microsoft Azure is also built atop the Ethereum platform. Azure allows companies to keep all their technical tools in one place, relatively similar with Office Suite. However, Microsoft has also expressed an interest in developing further Ethereum-based tools and items for customers to use in the cloud, meaning a lot of companies will have the chance to expand their global business operations.
Despite its popularity, Ethereum seems to have one major drawback. Many of the companies or individuals that utilize the Ethereum Network have not bothered to patch up specific security problems, which means that the network is potentially vulnerable to a 51 percent attack.
This Needs to Be Fixed!
Karsten Nohl, a researcher with the cybersecurity firm SRLabs explained in a statement:
According to our collected data, only two-thirds of nodes have been patched so far… One month after this alert, we used data from Ethernodes.org to assess the security of the Ethereum node landscape and found that around 40 percent of all scanned parity Ethereum nodes… remained unpatched, and thus are vulnerable to the mentioned attack.
Tel Aviv – a city in Israel – has announced that it will be running a new blockchain and cryptocurrency project designed to boost its growing economy. Tel Aviv is known as one of the most prominent tech hubs in the world.
Israel and Crypto Come Together
Blockchain and crypto was originally designed to boost one’s financial means. Digital currencies were released with the potential of helping customers who either didn’t have access to reasonable credit or standard financial tools and offering them the ability to govern themselves when it came to money. If they didn’t have access to fiat, they could use crypto to purchase everyday needs.
Unfortunately, one of the biggest things getting in the way of these cryptocurrencies’ original goals is their volatility. Entities like bitcoin, for example, have been prone to wild price swings over the past several years. The currency fell from nearly $20K to about $3,500 between January and November of 2018, and only recently has it begun expanding its price once again.
Many forms of crypto have proven too vulnerable to outside market influence, and as a result, many retailers and merchants have been reluctant to accept them as forms of payment, which puts crypto-owners in the dark and unable to use their coins for goods and services.
But Tel Aviv is allegedly looking for ways to alleviate this problem. One of those ways is the region’s new pilot program, which began on May 5. It is set to last for one month and will offer rewards points to all people who use crypto to make purchases with local merchants through what’s known as the Colu app. Once users spend approximately $30, they will earn about 25 digital city currency units. The money can be spent at any outlet that operates through Colu’s payment system.
CEO of the Tel Aviv Foundation Hila Oren comments:
This way, you support the local businesses because people buy more from those little businesses, and (part of) every transaction is donated to a social cause.
The first social cause that will benefit through the Colu program will be what’s known as the “Children of Music” project, based at the Lev Yafo Youth Center. The platform will earn three dollars of every transaction that occurs during the pilot project.
Crypto Use Is Growing Everywhere
The project is part of what’s known as the 100 Resilient Cities program, which was created by the Rockefeller Foundation in the United States in 2013. Among the other cities taking part in the program include Belfast, Northern Ireland; Milan, Italy; Addis Ababa, Ethiopia, and Cape Town, South Africa.
After the project is over, Tel Aviv will publish a report of the results and determine if crypto usage was successful enough to continue. Granted they decide it is, the project will last permanently from there.
For the past few weeks, Live Bitcoin News has been actively reporting on Facebook. The company is developing a new cryptocurrency called “Facebook Coin” that it says account holders can use through its upcoming crypto-based payment platform to pay for goods and services.
What’s Happening with Facebook Coin, Now?
That platform will be known as the “Libra Network,” and it will also allow customers to use Facebook Coin to pay for items with other merchants that boast Facebook login options on their websites. Executives are allegedly pursuing more than $1 billion in investments to make the network a reality within the next two years.
Facebook clearly isn’t happy being a simple social media network. It wants to be something much bigger. Now, new reports have emerged from Reuters and other sources that allege the Libra Network will be developed in Switzerland, a country renowned for its financial dealings and banking security.
Libra was registered in Geneva, Switzerland on the morning of Thursday, May 2, 2019. Facebook Global Holdings (FGH) will be the primary stockholder in the company. According to Reuters, FGH will “provide financial and technological services and develop related hardware and software plans that will be submitted to the Swiss register reveal.”
The company has been working hard to roll out its crypto plans at an even pace. On May 14, the company announced that it would be bringing two compliance managers from Coinbase on board to ensure it stays in line with all legalities and regulations involving cryptocurrency. Coinbase is one of the largest and most popular cryptocurrency exchanges in the United States.
This all sounds fine and dandy, but Facebook’s crypto plans have rubbed certain members of Congress the wrong way. Recently, several wrote to Mark Zuckerberg and other Facebook executives for specific details regarding its rollout of the Libra Network, citing the previous Cambridge Analytica scandal as the reason for its inquiry. Senators were curious how Facebook plans to monitor activity and keep users’ private financial data safe.
In an open letter, various members of Congress wrote:
The Wall Street Journal recently reported that Facebook is recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system using its social network. Last year, Facebook asked U.S. banks to share detailed financial information about consumers. In addition, privacy experts have raised questions about Facebook’s extensive data collection practices and whether any of the data collected by Facebook is being used for purposes that do or should subject Facebook to the Fair Credit Reporting Act.
Facebook Remains Silent
Facebook later released a statement regarding its plans. While no specifics were given, the statement read:
Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. Our new [small blockchain] team is exploring many different applications.
John McAfee is at it again, folks. The man who predicts bitcoin to reach $1 million by the year 2020 has announced he’s running for president and that he wants America to “wake up.”
McAfee Doesn’t Think He’ll Win
In truth, McAfee says he doesn’t want to win the presidency, nor does he expect to. He’s using the opportunity to instead push people’s boundaries and challenge how they think. He says that Americans have done their part to usher in “all the wrong people” in Washington D.C., and he wants to challenge them to think in an opposite direction.
In a recent interview with Newsweek, McAfee explains in detail the goals behind his allegedly fake presidential run:
I want to change every individual’s attitude and understanding of government. Here’s my position: that we are being lied to by the government from every single corner of the world. The CIA provides [info] which is deceptive… The government provides information which is manipulative… So, you ask me what my position is on anything. How would I know? I don’t have any information that is real, so what’s the point? I saw that first we must wake up and understand that we have a corrupt government. That we have a system of slavery in effect. I mean, we work for three to four to five months every year for the government for free in terms of paying income taxes. Is that not slavery?
McAfee further explains that he’s not worried about his overall reach capacity, and that if he reaches ten people, then “that’s a change.” He openly claims he has no alternatives in mind when it comes to changing our present governmental system, but he also says he “doesn’t need any,” commenting that if everyone in America “woke up and saw the truth,” they wouldn’t have a plan either.
He compared the situation to a crowded theater that was on fire. He claims that if a fire breaks out in a movie theater, but that the movie is so good nobody else notices, you try to wake everyone up. From there, nobody really has a plan. They just try to escape the fire as quickly as they can.
Making People See the Truth?
He further added:
This is how the world works. I’m 73. I know human interaction and the dynamics of day-to-day life… We become dreamlike and we ignore those things which are the greatest threat to us. It’s called laziness. Wake one person, they’ll wake another one. Then they’ll wake another. How about a million? I don’t think it’ll take too long.
McAfee, who has exiled himself to a small island in the Bahamas, claims to have several people throughout the area “working on his campaign.”
The Consensus Conference has arrived in New York, and the future of blockchain and cryptocurrency is now being discussed by several experts, companies and keynote speakers within the space.
What a Writer Can Learn from Blockchain
This year’s Conference, however, posed a few surprises for attendees. Some of the keynote speakers did not necessarily work in crypto or blockchain-related positions but have used blockchain technology to enhance their own creative passions.
One of those people is Ken Liu, a science-fiction writer. On the side, Liu also works as a coder, but it’s science-fiction writing that appears to be his primary career. Nevertheless, Liu discussed what it was that first got him interested in blockchain technology, and how it’s advanced his storytelling procedures:
I got interested in the potential of blockchain and bitcoin to transform a lot of the problems that we have in contemporary life. I wanted to explain them in ways that are beyond the usual stories, that cryptocurrencies are only used to buy drugs, which seems to be the narrative in popular culture.
Liu is adamant in his belief that bitcoin and blockchain will become “law” in the future. He’s convinced that every industry, whether it be healthcare, finance and even entertainment, will somehow implement the technology into its operations.
He also says that he’s looking to write stories that break the mold when it comes to both blockchain and crypto. He comments that right now, the primary sentiment is that crypto is only used for malicious projects, and he’d like to tackle ideas and stories that show them in a more truthful light. He states:
A storyteller can make up all kinds of stories and doesn’t need to back it up with any kind of real implementation. I really have to caution the rest [of you] against believing your stories as though they are the truth. The only way forward is to invest in and work toward the vision, and then see what happens. You have to put in the work to enjoy the result.
Other companies, such as Bayer, also made surprising appearances. The aspirin enterprise has integrated a new blockchain division into its overall structure, and its blockchain center of excellence leader Kimberly Harrington was at the event to mention some of the “live deployments” the company has utilized through blockchain to track and trace seeds and other ingredients that make their way into the company’s medicinal products.
Aspirin and Crypto: A Perfect Match?
Traditionally, when you think about transparency, the concept is ‘farm to fork,’ but we start before the farm. The seeds are produced and leave our organization and then go into fields with growers, where there’s an entire process that transforms that product into something that’s sold. [Blockchain] really helps to get all of the parties to coordinate and participate more efficiently.
The exchange is now one of many that have fallen victim to malicious activity. Others, such as Mt. Gox in 2014 and Coincheck in 2018, boast much bigger losses, so things could have been a lot worse for one of the world’s largest crypto exchanges.
Nevertheless, executives say that while they have the reserves to replace what was lost, the action still “hurts.” The hack occurred on the morning of May 7. The funds were stolen from a hot wallet that was connected to the internet. Immediately following the hack, Binance released a statement to all its customers explaining what had happened and that they had halted all withdrawals, trades and deposits on its platform when it noticed unusual activity occurring.
CEO Changpeng Zhao also took to Twitter regularly to ensure all customers knew what was going on and what was being done to thwart future theft attempts. A variety of methods were used to steal the money, including viruses and phishing.
A statement released by the company reads:
The hackers had the patience to wait and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. The transaction is structured in a way that passed our existing security checks. Once executed, the withdrawal triggered various alarms in our system. We stopped all withdrawals immediately after that.
To get more of its customers to return, Binance is engaging in a heavy marketing campaign designed to boost bitcoin adoption and related services. Customers have an opportunity to be upgraded to “VIP levels” and potentially earn part of a 50,000 pool of Binance Coin units. As many enthusiasts and traders know, Binance is an exchange that boasts its own currency that’s also a stable coin. A pool of 50,000 would be equal to roughly $1.36 million in USD.
To qualify for a portion of the money, customers must have traded at least one bitcoin (or the equivalent of one bitcoin in other cryptocurrencies) between now and May 18.
Binance Explains How to Protect Your Funds
At press time, it is unclear who is responsible for the hack. The company has stated that it will improve current security protocols by implementing know-your-customer (KYC) tactics. Binance also released commentary regarding how users can better protect their accounts and prevent fraudulent activity. The company explains:
From now until the commencement of trading, users will be able to cancel open orders, process deposits and use other account-related functions… To increase the security and protection of your account, we recommend that you read through ’14 Tips to Enhance Security for Your Binance Account,’ as well as periodically change your password, reset your 2FA, and update your anti-phishing code.
A new cryptocurrency is set to make its official debut in the coming months.
Ava Heads for the Blockchain Charts
The currency is called Ava, and it’s being launched by digital asset entrepreneur Emin Gun Sirer. The man serves as co-director of the Initiative for Cryptocurrencies and Smart Contracts at Cornell University. He is also a blockchain researcher that has his own startup in the works known as Ava Labs, which will be launching the cryptocurrency to the public.
Thus far, Sirer has managed to raise approximately $6 million from hedge funds everywhere to grow his company. Among the hedge funds that have contributed their time and money to the venture include Andressen Horowitz, Polychain and Metastable.
Thursday, May 23 will mark the debut of a test version of the cryptocurrency. From there, testing and public issuance will occur over the following few months. Sirer says that Ava will act as a “high-throughput platform with fast transaction confirmation times.” He claims that the transaction record will be equal to or greater than international credit card companies like Visa.
He also says that users will be able to perform supply chain tracking and digitize assets on the Ava Network, which he says will be its main purpose. He further comments:
Every certificate will one day be represented on the blockchain. Every dollar bill… We are trying to create the correct foundation for making that vision happen.
This is a very ambitious feat. To have virtually every currency and asset listed on the Ava blockchain will prove challenging for Sirer and his team. Responding to his followers’ questioning eyebrows, Sirer explained Ava’s goal in a Twitter message:
So many academics forget that our goal, as a profession, is not to publish papers. It’s to change the world.
Ava Labs has also developed an enterprise known as the Avalanche protocol. It’s a “distributed method of transaction verification” that is allegedly much more flexible than even Bitcoin.
Big Companies Are Creating New Coins
You can create a digital asset on top of Ava, a coin X, and then you can say, ‘I want my coin to support Bitcoin transactions as well as Zcash.’ You can mix and mash features from different languages, and I want these features to be supported on this set of nodes.
It seems like every major tech company is into creating its own coin, these days. The big news as of late is that social media conglomerate Facebook is developing its blockchain division to potentially put out a new cryptocurrency called Facebook Coin by the end of the year. It’s also working on a payment network system that will allow users to purchase goods and services with Facebook Coin through the platform and through websites that offer Facebook login options.
Bitcoin has come to a bit of a halt as of late. The currency, which had recently pushed beyond the $8,000 mark, is now trading for just over $7,100. This marks a near-$1,000 fall over the last 24 hours, though the good news is that bitcoin had previously fallen to about $6,400, and the range where it’s at now is a definite improvement.
Why Is Bitcoin Falling?
It seems like no matter how well bitcoin does, it still manages to make investors nervous. Nobody can relax, and the idea that price swings can occur at any time rings through their brains.
The other unfortunate thing is that bitcoin’s behavior tends to take a serious toll on other forms of crypto. Ethereum, for example, also fell by over seven percent within the last 24 hours, while Ripple’s XRP dropped by more than 15 percent.
Jehan Chu – co-founder of Kenetic Capital – states his thoughts on the bearish turn crypto has taken:
This last drop was likely caused by a combination of profit-taking and algorithmic trading compounding the swift fall. We can expect these types of steep rises and drops to continue for some time until institutional investors grow market volume.
Ah, the age-old argument behind institutional investors. No doubt they’ve gotten involved in crypto over the last two years, but maybe they just haven’t gotten involved fast enough. With the introduction of cryptocurrency trading amongst investing platforms like Fidelity and E-Trade, we can likely expect more institutional activity in the coming months, but for now, their lagging presence is taking a toll on prices.
Chu further commented that:
The key takeaway from the past few weeks is that with each of these surges, the overall interest and investment continues to expand around a growing core of real blockchain use and adoption.
For the most part, bitcoin has been struggling for nearly a year-and-a-half to move back up towards its all-time high of roughly $20,000 in December 2017. While the currency has managed to incur a few spikes since the beginning of April, there’s still plenty of room for improvement. At press time, there’s still a near-$13,000 window remaining if bitcoin is to get back to its former glory days.
2018 was marred by so many serious drops that it’s likely to take bitcoin some time to return to its December 2017 status, and doing that without manipulation behind it could be even more difficult.
Did Someone Sell Too Much?
One of the potential reasons for the sudden drop may have been a near-$7,000 bitcoin sell order on Bitstamp. Su Zhu – CEO at Three Arrows Capital – explains:
BitMEX wicked down to $6,400. 2,000 BTC+ sell wall on Bitstamp absorbed. Looks like a mark price exploit by placing a large sell stamp (one of two oracles for mark on BitMEX) to trigger liquidations on BitMEX.
Cyprus, 17 May 2019 – Two major players in the gambling industry announced this week they had signed an agreement for a strategic partnership that could present both entities with massive growth and innovation opportunities.
While PBET is a unique innovation that addresses the convergence between physical and online gaming through a Unified Gaming Platform, DEK International is dedicated to the distribution, creation, assembly and operation of electronic systems for gaming tables in casinos worldwide.
The clear synergies presented in this partnership point to wins on both sides since DEK is continually adding innovative and commercially ready products to their portfolio of distribution while PBET is expanding its own commercial edge and aiming to increase awareness of its unique product and services.
“We are proud to have signed this strategic partnership agreement with such a large, experienced and reputable distribution company like DEK International, said Bassel Moukaddem, CEO of PLC. Player Loyalty LTD (PBET). “This partnership will not only offer important exposure but will also allow for faster expansion and rapid commercialization of our products thanks to the network of purchasing decision makers that become accessible. We look forward to collaborating and I am sure this opportunity will bring significant growth for both companies as we forge into new geographical regions and markets.”
As world attention becomes fixed on the iGaming industry, the ongoing appeal of the real-world casino remains significant. Where PBET and DEK converge is in the optimization of the relationship between these two spaces to create a holistic environment for casino operators and gamers alike.
PBET, which is currently in Pre-ICO stage, generates synergies between these physical and online gaming while integrating crypto-currencies instant payments and combining partners in a unique token-based Reward Club. The innovative business model relies on partnering with physical casinos and providing them with hassle-free turn-key solution to expand into the online gaming, thanks to a Unified Gaming Platform, allowing in-premises and online gaming. But PBET is unique in that it also possesses a real-world product – a physical casino management system, Genuina, currently deployed in 20 land-based casinos within 4 countries.
DEK International is an already well-established company, with 20 years’ experience successfully commercializing products in more than 25 countries, serving approximately a hundred casinos. The business is at the forefront of gaming technology, continuously researching new products, helping manufacturers in the development and production of a variety of innovations.
While DEK International already has the gaming knowledge and accessibility to feedback and purchasing decision makers in offline casinos, both companies stand to benefit from access to each of their real-world and digital assets and industry expertise.
Stephane Vachon, President of DEK International Inc. said he was extremely happy to enter into this agreement and believes it would open the door to significant growth for both parties, “This partnership will grant us the capacity to add a great, innovative product to our selection of gaming products to distribute. Our clients will certainly benefit from such an advanced and innovative unified gaming platform.”
Contributors interested in taking advantage of this partnership can participate in PBET’s Pre-sale ICO and benefit from a 45 % discount as early investors of proprietary tokens that will be put to use immediately as a central element of PBET’s unique and disruptive Omni-channel approach.