Earlier on Thursday, the National Assembly's Amendment Subcommittee on Parliamentary Affairs passed a legal amendment to the still-in-development Special Financial Transactions Information Act to force virtual asset exchanges to register with the Financial Services Commission (FSC). Those failing to do so would face up to five years in prison or a fine of up to 50 million won ($42,460). Under the amendment, aimed to align the industry with international anti-money laundering guidance from FATF, crypto exchanges must also have so-called real name virtual bank accounts – sub accounts for users within an exchange's primary account – to avoid falling foul of the legislation. Opposition lawmakers had expressed concerns that that exchanges without real-name virtual accounts would be forced to close, bringing further contraction of the domestic cryptocurrency industry.
Someone hacked the official website of the Monero cryptocurrency project and quietly replaced legitimate Linux and Windows binaries available for download with malicious versions designed to steal funds from users' wallets. The latest supply-chain cyberattack was revealed on Monday after a Monero user spotted that the cryptographic hash for binaries he downloaded from the official site didn't match the hashes listed on it. At this moment, it's unclear how attackers managed to compromise the Monero website and how many users have been affected and lost their digital funds.
Having dropped to one-month lows below $8,000, bitcoin is now eyeing the first test of a key average support, now at $7,714, since April. The top cryptocurrency by market value fell more than 2.4 percent in the 60 minutes to 08:00 UTC on Thursday to hit a low of $7,875 – a level last seen on Oct. 25, according to Bitstamp data. The drop marked a downside break of a 48-hour narrowing price range seen above $8,000. Notably, with a slide to levels below $7,900, bitcoin has erased 80 percent of the rally from $7,293 to $10,350 seen in the second half of October. On a month-to-date basis, the cryptocurrency is now reporting a loss of over 13 percent. Further, the cryptocurrency is trading in the red for the fourth straight week. The dismal performance contradicts the positive seasonality factor: bitcoin has put on a good show in November in six out of the last eight years. Notably, prices gained for six straight years in November, starting from 2012 to 2017, before falling hard in November 2018.
The United Kingdom Jurisdiction Taskforce of the Lawtech Delivery Panel published a statement concerning the status of cryptocurrencies, distributed ledger technology (DLT) and smart contracts under English and Welsh private law. U.K. entrepreneur network Tech Nation announced the paper’s publication on Nov. 18. The document attempts to address the legal uncertainties of cryptocurrency and recognizes crypto assets as tradeable property and smart contracts as enforceable agreements under local law. Lawtech Delivery Panel director Jenifer Swallow noted that the worldwide smart contract market is expected to reach $300 million by 2023 while the World Economic Forum predicts that one-tenth of the global GDP will be stored on a blockchain by 2027. Due to this, she thinks adapting regulations on these new technologies is particularly important.
Institutional investors are aware of the risks that come with allocating a large percentage of their funds to a particular asset or market indices. For one, the downturn of such a market or asset would have a crippling effect on their returns. The same is true for investors that allocate the majority of their portfolio to asset classes that have strong correlations to one another. Hence, adopting a strategy that allows the allocation of funds to different asset classes, with little or no correlation, is the appropriate solution. This is where Bitcoin excels. While other markets had moderate correlations to one or two traditional asset classes, Bitcoin maintained a very weak correlation to all of the asset classes examined. In other words, Bitcoin could fit nicely into an investment portfolio and boost returns. VanEck’s study went further to prove Bitcoin’s eligibility as an investment option. This investigation entailed the assessment of the asymmetric return of portfolios allocated to varying percentages of equities, bonds and Bitcoin from January 2012 to July 2019. A portfolio with 58.5% of the fund distributed to equities, 38.5% to bonds and 0.5% to Bitcoin generated returns that surpassed that of a portfolio allocated solely to the S&P 500 by over 150% as of July 2019.
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Deliverance of a Kingdom gone& Outrage about outrage in action - how to shriek a good, loud reeeee in an era where the faith in youtubers is often far blinder than the faith in MSM
Gaming/Nerd culture Journalism Ethics Orgs/persons under socjus attack by media Most people who keep an eye on games, gaming and assorted happenings know the rough plot outline when it comes to the controversy around Kingdom Come - Deliverance. Story so far: Developers strive for historical accuracy and face some amount of pretty ridiculous scrutiny loaded with racism accusations because of it. Lead developer, Daniel Vávra, is in the centrefold of this and ends up having to explain and justify his heavy metal t-shirt of choice among other things, shit you not. Most of these little little anger volcanoes erupted on forums, twitter and other SoMe venues. Couple of gaming sites, too, have pitched in with contributions of similar tone. Much of the said outrage is just stupid. Luckily, there really isn't that much of it. That isn't where the buzz is at; This is yet another topic where we've long since reached a point where outrage about the outrage has taken over instead. I encourage anyone here to do some google/etc searches about the matter. Most conceivable relevant search term combinations (Daniel Vávra, Kingdom Come, racism, nazi and so on) produce top results that aren't people or gaming sites pouring these fiery accusations against Vávra. Instead, results mostly consist of angered reactions of people outraged about the outrage. If you do end up doing such searches, I bet a bitcoin that you won't have to google for long til you come across this video It is relatively wide spread. It got posted in KiA too a few days back, spoken about in game's official site and has generated few thousand comments in youtube. Basically the video is 9 minutes of thoroughly appreciated&approved and KiA- approved anger directed at a Metro article..that doesn't exist. OP of the KiA post about the video summarises: " A gaming website nobody's ever heard of calls for a boycott of Kingdom Come: Deliverance" Video comes with a subtitle " Some media outlets are still calling for a boycott of this game." Video, by Youtuber Worth a Buy, includes declarations like "He (Vavra)is a racist and a sexist. That's according to Metro. This guy, Andrew Middlemus, says we should boycott Kingdom Come Because Varva is a racist and a sexist!" Wellp. Here is the kicker. Even a cursory glance at the general direction of the actual " article" would reveal how this small fuzz is about something that isn't an article at all.This " article" is literally nothing besides a post among others in " letters from our readers" - type of a section of Metro. That's it. Basically,the video is making a big deal of " letters from readers!" - contriobution from some random person, mistakenly assuming and claiming it is an article by an actual journalist on Metro payroll and then parading the "article" as an exhibit D when highlighting a huge media attack vs Vavra. And guess what? Everybody, KiA included, just immediately buys it. How widespread the fruits of this youtuber's embarrassing mistake are is a bit uh.. embarrassing. The (moderately unnoticed)KiA thread about this saw 60 posts and not a single comment calling any of this bullshit. Same went down when the video was posted in the official forums of Kingdom Come. Feel free to take a wild fucking guess what those few thousand youtube comments underneath the video are like. Youtuber makes an extremely simple mistake that requires next to nothing to see it as such. Next to nothing is more than tens of thousands of people manage. Ultimately. I consider this another decent example of the staggering measure of good faith people often put on "youtubers getting it right!". Basically, MSM and official media outlets are scrutinized and pecked to absolute death. Up to a point where conclusion that "all of it is all bad" gets made. Meanwhile, youtubers of "our camp" are, ofc, " our guys!!" and their message is simply eaten whole without any resemblance of source criticism or even most baseline fact checking. If it comes from CNN, it is to be considered utter bullshit immediately and by default. If it comes from Reuters,it is highly suspicious at best. If it came from a youtuber, it is without a question so fucking true and accurate that there is no need to even look into the arguments made, they are to be eaten whole instead. It is legit disturbing to consider how simple and evident the mistake here is. If youtuber is saying something you want to hear, even token measure of anything resembling source criticism goes out of the window. - One just proceeds to get upset by whatever the youtuber is upset about. Srs how fucked up is that? Does this apply to all youtubers who wear the right colors? It is pretty staggering to see something this verifiable and simple become so wide spread without anyone really challenging it. This is not some complex, convoluted difficult jungle of legislative political bullshit or anything. You don't need a jungle knife&law degree to verify stuff. Nah, instead, 30 seconds of skimming a page where it all originates from is what is required. Nobody managed.Not the youtuber who made the the video, nor thousands of people going reee about "Metro demanding for a boycott!". As a grand finale of sorts, a 9 min rant about an article that doesn't exist is busy milking outrage due to a magazine's call for a boycott that doesn't exist and lo, it gets 95% upvotes in KiA. Imo something in this is some sort of a" let that sink in for a sec"-type of a moment. TLDR of sorts?" Trust but verify" and elementary, token measure of source criticism shouldn't be seen as some weapons of war that get drawn when, and only when, your ideological enemies are saying something. Edit, As u/B-VOLLEYBALL-READY pointed out, there WAS a KiA thread about the original entry itself, too. It is encouraging people in that thread, at least, point out it is a contribution from reader, not an " article."
Sign-up for Binance Jersey Fiat Exchange At this time, the digital currency exchange market is filled with a wide variety of choices, therefore choosing the right exchange or trading platform can be quite a headache for both novice and veteran cryptocurrency users. Binance is a popular cryptocurrency exchange which was started in China but recently moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. While the company is still fairly new on the market ( it launched last year ), it has managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, professional attitude and friendly CEO and also due to its low trading fees. Binance Website In our review, we will attempt to outline everything that you must know about Binance, including how it works, the crypto pairs that you can exchange, trading fees/limits, security aspects, and customer support. Visit Binance » How the Exchange Works Contents [Show] Those who visit Binance for the first time will quickly notice that the platform offers two options for digital currency trading- basic and advanced. Neither the basic, nor the advanced versions are bound to be easy to use for complete beginners. However, anyone with a background in digital currencies and with a bit of knowledge into how exchanges work should be able to use the platform and its different services. The main difference between the basic and the advanced version is that the advanced one offers more-in-depth technical analysis of digital currency value over time. At this time, the dashboard for the basic version offers several graphs and charts for the pairs that you’re trading, order books, and trade history. 3Commas This is what the basic view looks like : Binance Trading View The Basic view is nicely designed and well laid out, all the information you need is clearly presented with prices on the left, graphs in the center along with the buy and sell boxes and the trade history is presented on the right so you can quickly see what the latest trade prices were. And this is what the advanced view looks like: Advanced View The advanced view uses a dark theme and makes the trading charts larger and the latest trade prices are displayed on the right with the buy sell boxes underneath. Which you choose is a matter of preference really, I like the lighter colored basic view and find the layout a little easier to use. Binance Signup & Login To use the exchange, users will first have to create an account. The process behind this is fairly simple and straight-forward and you don’t have to verify your account for level 1 which is a 2BTC daily withdrawal limit. For level 2 which allows up to 100BTC per day, you need to upload a photo ID and wait till you are approved. There are higher limits still, but you will need to contact them directly to arrange that. Time for verification can vary depending on how busy the site support staff are, so make sure to plan ahead if you wish to withdraw larger amounts and make sure this step is complete before depositing and trading large sums on the exchange. ID Verification Now, that this is out of the way, users can go ahead and fund their Binance account. While you can choose from a multitude of digital currencies, it is recommended that you stick with either BTC or ETH. To fund your account visit the “Funds” > “Deposits / Withdrawals” link at the top of the site and find the currency you wish to send, then click the “Deposit” button next to it which will then you give you the wallet address. You can then send your funds to this address to begin trading on the platform, depending on which currency you deposit it will take different times to show up as this is reliant on that currencies blockchain. Some currencies like Ethereum are faster than Bitcoin which can take a while. Binance Wallets Now that your account is funded, you can simply start trading, exchanging and investing in various digital currency pairs. Binance offers plenty of choices, as they support all major digital currencies, but also numerous ICO listings and their respective tokens. At this time, the platform can only be used to generate limit and market orders. This has been considered a disadvantage by some, as many expected trading options that would be more advanced. Following the placement of your order, simply wait for it to be fulfilled according to the terms that have been set. How to Trade on Binance Trading on Binance is fairly straight-forward if you have used any other cryptocurrency exchange before. To get started, make sure you have deposited some funds – there are options for trading pairs in BTC, ETH, BNB and USDT. Once you have your funds, at the top right menu, select “Exchange” > “Basic” or “Advanced” to load the trading screen. We will be using the Basic view. Binance Trading View On the right hand side, of the screen select a tab from BTC, ETH, BNB or USDT this is what you will be trading in. Then choose your desired currency from the list. You can also search here and you can create a favorites list by clicking the star next to any currencies. Choose currency to buy Once your desired currency has loaded, take note of the left-hand column which shows prices that people are willing to sell at in the top half in red and prices people are willing to buy at in green in the bottom half. The number in the middle shows the last sale price. Buy and Sell Prices Now to place a buy order, use the center box underneath the graphs and you will see the buy box is in green on the right. You can manually enter a price you wish to purchase at, but a better way is to click a number on the left-hand column. You can then enter the amount of the currency you wish to buy or click the 25%, 50%, 75% or 100% buttons which will fill it with an amount based on how much of the buying currency you have ( in this case BTC ). Buy Order Once your order is placed it will be show underneath in the “Open Orders” section until it is filled. At that point your new currency will be available under the “Deposits / Withdrawals” menu where you can withdraw it to the wallet of your choice. Supported Crypto Currencies Binance has often been praised for its wide variety of support coins. Traders can use the platform for multiple digital currencies, including, but not limited to Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, Dash, LiteCoin, NEO, GAS, Zcash, Dash, Ripple and more. As mentioned before, Binance also supports numerous tokens, as part of ICO listings. With this in mind, traders can use the platform to trade these tokens for a profit as well. Binance is currently very quick to add new coins and tokens after their ICO which usually means you can purchase them cheaply which allows for greater profit down the road. They currently offer trading pairs in BTC, BNB, ETH and USDT. Binance Markets Binance ICO & BNB Coin Another thing to note is the Binance Coin, which was issued during their own ICO. The Binance coin can be used to pay fees and it will also feature in their future plans to create a Decentralized Exchange where it will form one of the key base currencies. Purchasing the Binance coin itself looks like a good investment for the future as the exchange plans to use their profits to buy back a portion of the coins every quarter and destroy them: hence decreasing the supply and making them more valuable for holders. Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining. Binance BNB Coin If you’d like to read more about the BNB Coin, check out our indepth guide. Binance Fees & Limits At the time of writing, Binance charges an average fee of 0.1% on each trade that a user makes. Those who choose to pay via the Binance token can get a 50% discount on the trading fee, which is absolutely great news. These are surely some of the lowest fees available at this time. Withdrawal fees tend to vary for each digital currency. For instance, 0.0005 is charged for Bitcoin withdrawals, and 0.005 is charged for ETH withdrawals. Here are some examples to give you an idea of the fees you will be paying for withdrawals: COIN CODE Fee Unit Binance Coin BNB 1 BNB Bitcoin BTC 0.001 BTC Ethereum ETH 0.01 ETH Litcoin LTC 0.01 LTC Neo NEO Free NEO Qtum QTUM 0.01 QTUM Status SNT 10 SNT Bancor BNT 1.2 BNT Eos EOS 0.7 EOS Bitcoin Cash BCC 0.0005 BCC Gas GAS Free GAS USDT USDT 50 USDT When it comes down to transfer limits, there is no limit on the number of coins that you can deposit. However, without getting verified, users are limited in terms of how much they can withdraw. Verification will establish you as a level two users, thus lifting these limits and providing a lot more freedom when using the platform. The verification process requires users to provide Binance with their full name, country, gender, a photo of passport/government-issued ID, and even a selfie with the passport. Binance Competitions A unique feature of Binance you will notice is that they regularly hold competitions with some amazing prizes. Some examples of competitions in the past include Waves and Tron. The waves competition gave away 20,000 Waves to Traders based on how many trades they have made of this currency. The other competition for Tron (TRX) gave participants the chance to win a Maserati car, Mercedes Benz car, a Macbook Pro or a iPhone X. Again, the winners were the people with the highest trading volume of this currency. The current rankings show that the person in first place had over 358 BTC volume in trades so you will need to be a whale to be in with a chance of winning first prize. There are other regular competitions though, so keep an eye on the site for your chance to enter. Is Binance Safe? While Binance is one of the newest cryptocurrency exchanges available on the market, it has quickly managed to attain a high level of trust from its users and the digital currency community. However, the exchange fails to provide users with enough information on how the funds are being secured, yet we like to believe that security is taken seriously. Two-factor authentication is available and is always a nice sight. It is however known that the platform offers a multi-tier and multi-tier system architecture. Update: In March 2018 Binance suffered a hacking attempt. The hackers tried to pull off an audacious move which was luckily caught by the automated systems in place at the exchange. For months the hackers had been accumulating people’s logins via a phishing website and secretly installing API access on the affected accounts. They then struck, converting all the victims altcoins to BTC and purchasing Viacoin, pumping the coin to a huge price and then selling their own supply of Viacoin at the high point, before trying to withdraw the BTC to their own wallets. Luckily no one lost funds as the hack was caught and the only people to lose out were the hackers, whose funds will be donated to charity. As this hack was made possible by people entering their site logins and 2FA details into a fake website, you should always make sure you are on the correct Binance url before logging in. We recommend you bookmark the site and only use that to access it, never click links from emails, Twitter, Telegram etc. This event has done a lot to instill confidence around Binance, not only did their automated processes catch the attempted hack before anyone lost any funds, they have since offered a $250,000 bounty to anyone who can help catch the hackers. Throughout this event, Binance acted exemplary and have been praised for their swift action in resolving this. Binance Customer Support For an exchange to be successful, it requires a great customer support team, capable of answering all user questions and requests in a timely manner. While the support area on Binance could use a little work, the team is responsive and capable of offering professional aid to traders in need. Support tickets are submitted via an online form featured on the website, and responses are made via email. There is currently no live chat support, nor a phone number where customers can get in touch with the support team. Binance Customer Support Other than the CS team, Binance offers a couple of FAQs and articles meant to help users get accustomed to the exchange and the way it works. Binance FAQs It should be noted that customer support on Binance has been known to be slow to respond to customer requests. This is a familiar phenomenon with most of large exchanges and is due simply to the volume of users and amount of support staff. The exchanges have grown at an explosive rate this past year and the companies simply haven’t been able to keep up with demand. Binance grew fast especially, going from launch to the largest exchange on the planet in a few short months. Support staff for exchanges have to be carefully vetted and trained due to the technicalities and security requirements involved – unlike other traditional companies where staff can be trained quicker. Some things to bare in mind are double-checking wallet addresses, make sure you are sending the correct cryptocurrency to it’s corresponding address on the site. Mixups with wallets are one of the biggest mistakes people make when using exchanges. Other things to note are, try a smaller test payment first if you plan to transfer large sums – it may cost you a little more in fees but will be worth it for peace of mind. If you do need to contact support, make sure you provide them with enough information to be able to help you first time. Include wallet addresses, times of transactions and any other information you think they might need to help speed up the process. The Move to Malta In March 2018, Japanese Newspaper Nikkei reported that Binance was trading in Japan and not following their official regulations. This caused some turbulence in the markets until Binance made an official announcement that they were going to be moving operations to the crypto-friendly island of Malta in Europe, stating : After reviewing several different locations, the company decided to invest in the European nation due to its existing pro-blockchain legislation and the stability that it offers financial technology companies through its regulatory framework. This is good news for the company and they even received a warm welcome from the Prime Minister of Malta on Twitter. Binance also announced that they were in talks with Maltese banks with the goal of providing Fiat transactions, meaning they can offer an on-ramp for fiat to crypto transactions in future along with fiat trading pairs on the exchange. More good news for Binance, it seems as their profile and reputation within the industry continues to grow. Launching a Decentralized Exchange More recent news for Binance and what seems like good news BNB holders is the fact that they are planning to launch their own Decentralized Exchange ( DEX ): “After extensively researching decentralized exchange frameworks and analyzing existing implementations, we believe significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed. Centralized and Decentralized exchanges will co-exist in the near future, complementing each other, while also having interdependence.” The BNB digital asset, now an ERC-20 token, will migrate as the native token of that network and be used for paying the trading fees on the new exchange. Launching a Decentralized Stock Exchange More good news recently for Binance is that they are partnering with Neufund to build the world’s first Decentralized Stock Exchange. Alongside the Malta Stock Exchange, they are aiming to create a regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets. According to CapLinked, the market cap of equity tokens alone is projected to reach $1 trillion by 2020 and thanks to the partnership with MSX, a subsidiary of the Malta Stock Exchange and Binance, Neufund will become the first end-to-end primary issuance platform for security tokens, in particular, equity tokens. It will secure ways for secondary trading of equity tokens and enable companies around the world to fundraise on Blockchain in a legal way while offering much-needed liquidity. This is more positive news for Binance as they aim to consolidate their position as the world’s number one Crypto Exchange. Binance Jersey Launch – Now Supports Fiat to Crypto As of 16th January 2019, Binance has announced the launch of a new Fiat to Crypto exchange named “Binance Jersey“. The trading platform is live and active and allows you to trade in fiat currencies such as euros and pound sterling, with Europe being their target market. We have now carried out a full review of Binance Jersey, so take a look for more indepth details about the new platform. Binance Jersey Visit Binance Jersey » At the time of writing they are only offering four trading pairs with more to follow soon: BTC / EUR BTC / GBP ETH / EUR ETH / GBP Supported Jurisdictions: Argentina Eswatini (formerly Swaziland) Latvia Romania Armenia Finland Liechtenstein Singapore Australia France Lithuania Slovakia Austria Germany Luxembourg Slovenia Azerbaijan Gibraltar Macau South Africa Belgium Greece Malta South Korea Brazil Hong Kong Mauritius Spain Bulgaria Hungary Mexico Sweden Canada Iceland Monaco Switzerland Chile Ireland Netherlands Turkey Croatia Israel New Zealand United Arab Emirates (UAE) Cyprus Italy Norway United Kingdom (UK) Czech Republic Jamaica Peru Uruguay Denmark Japan Poland Estonia Jersey Portugal Customers who wish to trade in the support fiat currencies will need to carry our KYC procedures by uploading their ID documents such as passport and driving license. Wei Zhou, Binance’s CFO released this statement about the launch : “Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern. Through Binance Jersey, we want to help bridge the crypto-fiat channel for Europe and the U.K. as part of our global expansion to support broader cryptocurrency adoption”. If you are familiar with trading on Binance, then you will feel at home on their new exchange – it uses the same engine and the trading screen is laid out in the same fashion with the option to choose between Basic and Advanced views: Binance Jersey Trading Screen To fund your account in fiat, you will first need to complete the KYC process, once that is done you can then deposit funds directly from your bank account by linking it from the Deposits screen. You can also fund your account with BTC or Ethereum. Once you have your account setup and bank account linked, you can also withdraw funds in fiat currency – this is great news as Binance is now able to offer a way for investors to cash out their cryptocurrencies. We have upgraded our review scores below and we feel this is a huge improvement to Binance’s Exchange offering, if they manage to roll this out to even more countries ( USA is currently excluded) it could be a game changer as people now have an extra, regulated fiat on and off ramp for their holdings. Buying Bitcoin with Australian Dollars On March 20, 2019, Binance announced the launch of Binance Lite Australia, the continent’s first fiat gateway to the world of cryptocurrencies which provides a secure, reliable, and easy to use way to buy Bitcoin with cash in Australia. The cash-to-Bitcoin brokerage service operates via a network of over 1,000 newsagents across Australia, and currently allows anyone to buy Bitcoin using Australian Dollars (AUD), and there are plans to include additional digital currencies and fiat purchasing options in the future. Users must first undergo account verification on Binance Lite, and after being successfully verified, users can place online orders and deposit cash at their nearest newsagent, in order to receive their pre-ordered Bitcoin. The Binance Lite brokerage service is operated by InvestbyBit, an independently operated subsidiary of the Binance.com cryptocurrency exchange. The service aims to simplify the process of purchasing cryptocurrencies and make digital assets such as Bitcoin readily accessible across Australia. Fees A 2.5% transaction fee (50% discount applied) plus GST on the transaction fee for each purchase is currently being charged as an introductory rate. Therefore, for a $50 order, the transaction fee will be $1.22 and the GST will be 10% of the transaction fee, which is $0.12. Limits The system is currently in its Beta phase, and the minimum purchase amount has been lowered to $30 with the maximum purchase amount capped at $1000. These limits may change over time and only multiples of $10 are being accepted, such as orders for $50, $60, $70 etc. Verification First time customers are required to go through a one-time Know Your Customer (KYC) document verification. When using the service, it’s necessary to follow the instruction prompts after the order page and go through the verification. In order to complete the verification process, it’s necessary to submit 1 or 2 forms of government issued ID documents as a Passport, Driver’s Licence, or Medicare card, in addition to your residential address. Any returning customers, who have already completed KYC verification, will be sent to the order summary page directly after opening a new order. Each account is linked to a mobile number, and users should ensure to use the mobile number provided when first completing the verification process. Anyone choosing to use a new mobile number will be required to complete the ID verification process once again. Paying by Debit and Credit Card Binance allows users to make debit and credit card payments for cryptocurrencies via a partnership with Simplex. It’s possible to purchase Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP tokens by Visa and MasterCard and the benefits of using a debit or credit card on Binance include: Swift Transfers: Average 10-30 mins for cryptocurrency to reach your wallet Low Fees: only 3.5% per transaction or 10 USD, whichever is higher Convenient: Visa and MasterCard accepted In order to purchase the supported cryptocurrencies with a debit or credit card, users can first go through the official instructions page and then visit: https://www.binance.com/en/creditcard. Binance Launchpad and Initial Coin Offerings (IEOs) Binance Launchpad is the exchange’s token launch platform that aims to connect blockchain projects with the greater cryptocurrency community and enable projects to raise funds while interacting with Binance’s significant user base. In December 2017, the BREAD and GIFTO projects were able to hold successful token sales on Binance Launchpad and projects such as BitTorrent and Fetch.AI have also held successful launches in 2019. The platform makes use of the exchange’s native BNB token and rewards users for holding the token as well as allowing it to be used to participate in token sales. Read: What is an IEO? How Token Offerings Work on Binance Launchpad The ability to part in token offerings continues to attract a significant amount of users to Binance and it’s necessary to go through a number of steps in order to get used to the Launchpad platform. Anyone interested in a project should first go to the Binance Launchpad website and click on the project page and thoroughly research any of the projects on offer. If not already done, it’s also necessary to complete your Binance account verification, as token sales are carried out in compliance with the regulatory requirements in supported user jurisdictions. The Lottery System Binance Launchpad operates a lottery system which sees that the number of lottery tickets you can claim being dependant on the amount of BNB tokens you hold in your Binance account over a 20-day period leading up to the day of the lottery, with a maximum of up to 5 tickets per eligible account. The 20 days leading up to the lottery draw date is represented by X below, and by example, 100 ≤ X < 200 means that your BNB balance over the entire 20-day period is kept at 100 BNB or more, but does not exceed or reach 200 BNB. A snapshot at 0:00 AM (UTC) each day records each user’s BNB balance, and should your BNB balance drop below the minimum balance required on any given day during the 20-day period, they will be put into the lower threshold. For example, if User A holds 301 BNB for 19 of the 20 days but their balance drops to 299 BNB on one day. They will move to the lower threshold and only be eligible to claim 2 lottery tickets. Before the actual lottery date, users are given a 24 hour period to select how many lottery tickets they wish to enter, with the maximum number based upon their BNB holdings over the previous 20 days. Here, if a user submits an entry of 5 tickets and 2 tickets end up winning, they are committed to pay for 2 ticket allocations (in BNB) for the tokens. Each lottery ticket has a unique number with multiple lottery ticket holders, obtaining tickets with consecutive numbers. For example, when claiming 5 tickets, the tickets may be numbered 100010, 100011, 100012, 100013 and 100014. Once the 24 hour period ends and all tickets have been fully issued, Binance begins to randomly select multi-digit numbers. These are matched against the tail digits of all issued tickets in order to determine the list of winners. The selection process continues until the maximum number of winners are matched, and the respective BNB is deducted from each winning user’s balance, as soon as they are deemed a winner. Binance announces the maximum number of potential lottery ticket winners, and the allocation amount corresponding to each winning ticket in advance. Conclusion Currently, the matching engine of the exchange is capable of processing approximately 1.4 million orders each second, hence making it one of the fastest exchanges available on the market. Additionally, the exchange works on all forms of devices, including web, Android, WeChat, and HTML5. Non-English speakers will be happy to know that Binance offers multiple-language support in Chinese, English, Korean and Japanese. Based on everything that has been outlined so far, Binance is undoubtedly the leading Cryptocurrency Exchange and offers great fees and awesome digital currency support. As it reportedly has access to abundant resources and partners, chances are that Binance will continue to evolve and offer great digital currency exchange services to its clients. We are happy to recommend Binance and have added it to our list of the Best Cryptocurrency Exchanges. Update, April 2019: We have continued to update this review since Binance was first launched ( we were one of the first to offer a review of the platform at the time ). And as time has progressed, time and time again Binance have proven to be one of the very best, if not the best, exchanges available. Their CEO Changpeng Zhao (CZ for short) has been part of the cryptocurrency community and shown high standards of integrity. Binance the exchange has continued to innovate, bringing new products to market and new options for purchasing and trading cryptocurrencies to all corners of the globe.
"A Sea Of Red": Global Stocks Plunge With Tech Shares In Freefall
While there was some nuance in yesterday's pre-open trading, with Asia at least putting up a valiant defense to what would soon become another US rout, this morning the market theme is far simpler: a global sea of red. Stocks fell across the globe as worries over softening demand for the iPhone prompted a tech stock selloff across the world, while the arrest of car boss Carlos Ghosn pulled Nissan and Renault sharply lower. Even China's recent rally fizzled and the Shanghai composite closed down 2.1% near session lows, signalling that the global slump led by tech shares would deepen Tuesday, adding a new layer of pessimism to markets already anxious over trade. Treasuries advanced and the dollar edged higher. S&P 500 futures traded near session lows, down 0.6% and tracking a fall in European and Asian shares after renewed weakness in the tech sector pushed Nasdaq futures sharply lower for a second day after Monday's 3% plunge and crippled any hopes for dip buying. News around Apple triggered the latest bout of stock market selling, after the Wall Street Journal reported the consumer tech giant is cutting production for its new iPhones. Europe's Stoxx 600 Index dropped a fifth day as its technology sector fell 1.3% to the lowest level since February 2017, taking the decline from mid-June peak to 21% and entering a bear market. Not surprisingly, the tech sector was the worst performer on the European benchmark on Tuesday, following Apple’s decline to near bear-market territory and U.S. tech stocks plunge during recent sell-off. The selloff was compounded by an auto sector drop led by Nissan and Renault after Ghosn, chairman of both carmakers, was arrested in Japan for alleged financial misconduct. The European auto sector was not far behind, dropping 1.6 percent, and the broad European STOXX 600 index was down 0.9 percent to a four-week low. “Most of Europe had a red session yesterday and that has been compounded by the news on Apple and tech stocks overnight, The overall climate is risk off,” said Investec economist Philip Shaw. “Beyond stocks, the Italian bonds spread (over German bonds) is at its widest in about a month now, and Brexit continues to rumble on - uncertainty is very much hurting risk sentiment,” he added. Earlier, MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1.2 percent, with Samsung Electronics falling 2 percent. In Japan, Sony Corp shed 3.1 percent. Japan’s Nikkei slipped 1.1 percent, with shares of Nissan Motor Co tumbling more than 5% after Ghosn’s arrest and on news he will be fired from the board this week. Meanwhile, as noted yesterday, the CDS index of US investment grade issuers blew out to the widest level since the Trump election, signaling renewed nerves about the asset class. Exactly two months after the S&P hit all time highs, stocks have been caught in a vicious decline and continue to struggle for support as some of the technology companies that helped drive the S&P 500 to a record high earlier this year tumbled amid a slowdown in consumer sales and fears over regulation, many of them entering a bear market. At the same time, a more gloomy macro outlook is emerging, with Goldman chief equity strategist David kostin overnight recommending investors hold more cash even as it reiterated its base case of S&P 3000 in 2019. Ray Dalio disagreed, and said that investors should expect low returns for a long time after enjoying years of low interest rates from central-bank stimulus. “The easy days of long, global bull markets where you can invest in a tracker for five basis points -- I say this as an active fund manager -- and watch the thing go up, I think those days are gone,” Gerry Grimstone, chairman of Barclays Bank PLC and Standard Life Aberdeen PLC, said in an interview on Bloomberg Television. “It’s going to be a move back to value investing, and back to the Warren Buffett-style of investment.” In the latest Brexit news, UK PM May is reportedly drawing up secret plans to drop the Irish border backstop and win support from angry Brexiteers, while reports added PM May has received agreement from the EU to drop the backstop plan if both sides can agree on alternative arrangements to keep the border open. Meanwhile, Brexiteers reportedly still lack the sufficient number of signatures required to trigger a no-confidence vote against UK PM May, the FT reported. In related news, Brexit rebels reportedly admitted attempts to oust PM May has stalled as Eurosceptic MPs turned on each other. The Telegraph also reported that the confidence vote now appears to be on hold until after Parliament votes in December on Mrs May's Brexit deal. Sky News reported that the UK government are to publish new analysis before the MPs’ meaningful vote on the Withdrawal Agreement comparing the “costs and benefits” of Brexit. The impact of three scenarios will be measured; no Brexit, no deal, and leaving with the government's draft deal and a free trade agreement. In rates, Treasuries rose, driving the 10-year yield down to its lowest level since late September, ahead of Thanksgiving Thursday. Italian government bond yields jumped to one-month high on Tuesday and Italian banking stocks dropped to a two-year low, hurt by risk aversion and concerns over the Italian budget. Euro zone money markets no longer fully price in even a 10 bps rate rise from the European Central Bank in 2019, indicating growing investor concern about the economic outlook in the currency bloc. In FX, the Bloomberg Dollar Spot Index whipsawed in early London trading even as it stayed near a more than one-week low on concern cooling global growth will slow the pace of Fed rate hikes, keeping Treasury yields under pressure. At the same time, the pound stabilized as Theresa May appealed to business leaders to help deliver her Brexit deal, and evidence mounted that a plot to oust her as U.K. Prime Minister is faltering. The euro slid as Italian bonds dropped, pushing the yield spread to Germany to the widest in a month; the currency had opened the London session higher, supported by corporate buying in EUGBP. The yen rallied to a month-to-date high as Asian stocks followed a U.S. equity slide while the New Zealand dollar got a boost from a jump in milk production; the Aussie was on the back foot even after the RBA said Australia’s unemployment rate could fall further in the near term. India’s rupee rallied a sixth day after the central bank signaled a compromise with the government in their dispute over reserves. Bitcoin extended its drop below $4,500 for the first time since October 2017. WTI crude oil futures hovered around $57 a barrel after oil prices lost steam as fears about slower global demand and a surge in U.S. production outweighed expected supply cuts by the Organization of the Petroleum Exporting Countries. Brent crude slipped 0.9 percent to $66.21 per barrel. In other overnight news, BoJ Governor Kuroda said there is currently no need to ease further, while he added that there was a need for bold monetary policy in 2013 and now we need to persistently continue with policy. Furthermore, Kuroda suggested that the chance of reaching the 2% inflation target during FY2020 is low. Japanese PM Abe says the next initial budget is to have measures to address sales tax. India's Finance Ministry sources expect that the RBI will stand pat on rates at its meeting next month. RBA Governor Lowe states that steady policy is to be maintained for 'a while yet' and it is likely that rates will increase at some point if the economy progresses as expected. Expected data include housing starts and building permits. Best Buy, Campbell Soup, Lowe’s, Medtronic, Target, TJX, and Gap are among companies reporting earnings. Market Snapshot
S&P500 futures down 0.8% to 2,676.00
STOXX Europe 600 down 0.5% to 353.25
MXAP down 1% to 150.89
MXAPJ down 1.2% to 481.70
Nikkei down 1.1% to 21,583.12
Topix down 0.7% to 1,625.67
Hang Seng Index down 2% to 25,840.34
Shanghai Composite down 2.1% to 2,645.85
Sensex down 0.8% to 35,498.94
Australia S&P/ASX 200 down 0.4% to 5,671.79
Kospi down 0.9% to 2,082.58
German 10Y yield fell 1.4 bps to 0.359%
Euro down 0.2% to $1.1433
Italian 10Y yield rose 10.4 bps to 3.223%
Spanish 10Y yield rose 0.3 bps to 1.653%
Brent futures down 0.8% to $66.23/bbl
Gold spot little changed at $1,223.14
U.S. Dollar Index up 0.1% to 96.29
Top Overnight News
Bank of England governor Carney appears before lawmakers on Tuesday. He’ll be joined by fellow interest-rate setters Jon Cunliffe, Andy Haldane and Michael Saunders. Treasury Committee Chair Nicky Morgan has already asked the BOE to assess any agreement
While Salvini is threatening to hijack the EU agenda as the dispute over Italy’s 2019 budget heats up, his closest adviser is trying to steer the populist coalition away from a head-on clash with Brussels, according to senior government and League officials who asked not to be named discussing confidential matters
Credit markets are set for the worst year since the global financial crisis as investors abandon hope of a late-2018 rally
Turmoil engulfed cryptocurrency markets again on Tuesday, with every major coin extending a rout that’s rocking confidence in the nascent asset class. Bitcoin, which started the year at more than $14,000, has fallen below $4,500. Rivals including Ether, Litecoin and XRP joined the slide, though they pared losses that reached as much as 17 percent
Evidence is mounting that the plot to oust U.K. Prime Minister Theresa May is faltering. One rebel leader said in private that more than 50 Tories had claimed they would submit letter but they hadn’t all followed through
Germany and France have warned the EU to do more to prevent the U.K. from being able to claim victory in Brexit talks, according to EU diplomats. Spain’s Foreign Minister said the EU shouldn’t accept a text on a Brexit agreement that Spain isn’t happy with
U.K. Labour Party leader Jeremy Corbyn said he wants to keep a second Brexit referendum open as an option
Australia’s unemployment rate may fall further in the near term based on leading indicators of labor demand, the central bank said in minutes of its November meeting
Bank of Japan Governor Haruhiko Kuroda says he welcomes a diversity of opinion on the effectiveness of negative rates. He also said he believes continuing current policy is best approach for achieving the central bank’s inflation target
Asian stock markets were lower across the board as the risk averse tone rolled over from Wall St, where the tech sector led the sell-off as Apple shares dropped nearly 4% on reports it had reduced production orders and with all FAANG stocks now in bear market territory. As such, the tech sector underperformed in the ASX 200 (-0.4%) and Nikkei 225 (-1.1%) was also pressured with Mitsubishi Motors and Nissan among the worst hit after their Chairman Ghosn was arrested on financial misconduct allegations. Shanghai Comp. (-2.1%) and Hang Seng (-2.0%) were heavily pressured after the PBoC continued to snub liquidity operations and as China’s blue-chip tech names conformed to the global rout in the sector, while JD.com earnings added to the glum as China’s 2nd largest e-commerce firm posted its weakest revenue growth since turning public. Finally, 10yr JGBs were weaker amid profit taking after futures recently hit their highest in around a year and following mixed results at today’s 20yr auction. Top Asian News - BlackRock Doesn’t Expect Significant Growth Slowdown in China - China Stocks Lead Global Losses as Tech Rout Hits Fragile Market - Stock Traders in Asia Keep Finding New Reasons to Hit ’Sell’ - World’s Largest Ikea to Open in Manila as Company Bets on Asia Major European indices are largely in the red, with the SMI outperforming (+0.1%) which is being bolstered by Novartis (+1.0%) following their announcement of a joint digital treatment with Pear Therapeutics for substance abuse disorder. The DAX (-0.7%) is lagging its peers, weighed on by Wirecard (-5.0%) following a disappointing change to guidance forecasting as well as weak sentiment across IT names after the FAANG stocks entered bear market territory on Wall St. In particular, the Stoxx 600 Technology sector (-1.9%), dropped to its lowest level since Feb 2017. Meanwhile, Deutsche Bank (-2.5%) are in the red due to reports that the Co processed payments for Danske Bank in Estonia. Top European News
Draghi’s Man in Rome Shows Populists Alert to Budget Backlash
BASF Targets $2.3 Billion Profit Boost From Corporate Revamp
Danske Fights Back as Hush Money Claims Raise New Questions
The One Thing Supercharging Europe Earnings in 2018 Is Crashing
As Things Stand, Spain Will Vote Against Brexit Deal: Sanchez
In FX, the DXY index remains technically prone to further downside pressure having closed below another Fib support level yesterday and testing the next bearish chart area around 96.050-10 ahead of 96.000 even. However, a more concerted bout of risk-off trade/positioning saved the DXY and broad Dollar from steeper declines as the tech-induced sell-off in stocks intensified, and jitters over Brexit alongside the Italian budget returned to the fore. NZD/AUD - The Kiwi is bucking the overall trend and outperforming in contrast to this time on Monday, with Nzd/Usd rebounding firmly to 0.6850+ levels and Aud/Nzd retreating through 1.0650 to just south of 1.0600 following overnight data showing a hefty 6.5% y/y rise in NZ milk collections for October. Conversely, the Aud/Usd has slipped back under 0.7300 again, and close to 0.7250 in wake of RBA minutes underscoring no rush to hike rates and subsequent affirmation of wait-and-see guidance from Governor Lowe. In fact, he asserts that the jobless rate could decline to 4.5% vs 5% at present without inducing wage inflation, while also underlining concerns about the supply of credit. JPY/CHF - Both benefiting from their more intrinsic allure during periods of pronounced risk aversion and investor angst, as Usd/Jpy probes a bit deeper below 112.50 and a key Fib at 112.46 that could be pivotal on a closing basis with potential to expose daily chart support circa 112.16 ahead of 112.00. Meanwhile, the Franc has inched closer to 0.9900 and over 1.1350 vs the Eur that remains burdened with the aforementioned Italian fiscal concerns. GBP/EUR - Almost a case of déjà vu for Sterling and the single currency as early attempts to the upside vs the Greenback saw Cable and EuUsd revisit recent peaks around 1.2880 and 1.1470 respectively, but a combination of chart resistance and bearish fundamentals forced both back down to circa 1.2825 and 1.1425. In terms of precise technical/psychological levels, 1.2897 and 1.1445 represent Fib retracements, ahead of 1.2900 and 1.1500, while the Pound has remained relatively unchanged and unresponsive to largely on the fence pending Brexit rhetoric from the BoE in testimony to the TSC on November’s QIR. In commodities, gold has stayed within a USD 5/oz range and traded relatively flat throughout the session moving with the steady dollar ahead of US Thanksgiving. Similarly, copper traded lacklustre breaking a 5-day rally because of a subdued risk sentiment stemming from ongoing US-China trade tensions; with Shanghai rebar adversely affected from these factors. Brent (-0.1%) and WTI (+0.2%) are following a relatively quiet overnight session, while recent upticks in the complex resulted in WTI reclaiming the USD 57/bbl and Brent edging closer to USD 67/bbl. This follows comments from IEA Chief Birol that Iranian oil exports declined by almost 1mln BPD from summer peaks. Looking ahead, traders will be keeping the weekly API crude inventory data which is expected to print a build of 8.79mln barrels. On today's light data calendar, in the US, there should be some interest in the October housing starts and building permits data, especially following Fed Chair Powell’s recent comments acknowledging a slowdown in the housing market and yesterday’s homebuilder data. Away from that, the BoE’s Carney is due to appear before the Parliament’s Treasury Committee to discuss the Inflation Report, while the ECB’s Nouy and Bundesbank’s Weidmann are both scheduled to speak at separate events. US Event Calendar
8:30am: Housing Starts, est. 1.23m, prior 1.2m; MoM, est. 1.79%, prior -5.3%
8:30am: Building Permits, est. 1.26m, prior 1.24m; MoM, est. -0.79%, prior -0.6%
DB's Jim Reid concludes the overnight wrap With the sell-off of the last 24 hours we have now traded through the last of our YE 2018 top level credit spread forecasts as US HY widened 6bps to +424bps (YE 2018 forecast was 420). We still think US HY is the most expensive part of the EUR & US credit universe but as discussed above, last night we’ve become more optimistic on all credit in the near-term after what has been the worst week of the year. Credit massively under-performed equities last week but equities caught up on the downside yesterday. The sell-off was underpinned by the FANG names selling off, an accounting scandal emerging at Nissan, oil swinging around and the US housing market spooked by weak data. Just on the market moves first, the NASDAQ and NYFANG indexes slumped -3.03% and -4.28% yesterday, registering their fourth and third worst days of the year, respectively. Facebook and Apple fell -5.72% and -3.96% respectively, as the sector remains pressured amid a slew of negative PR and the spectre of stricter government regulation. Over the weekend, Apple CEO Tim Cook said in an interview that “the free market is not working” and that new regulation is “inevitable”. This negatively impacted highly-valued social media companies. Twitter and Snapchat traded down -5.02% and -6.78% respectively. The tech sector was further pressured after the WSJ reported that Apple had cut production orders in recent weeks for the new model iPhones, with chipmakers broadly trading lower and Philadelphia semiconductor index shedding -3.86%. The S&P 500 and DOW also slumped -1.66% and -1.56% respectively while in Europe the STOXX 600 turned an early gain of +0.71% into a loss of -0.73%. In credit, cash markets were 2bps and 11bps wider for Euro IG and HY and 2bps and 6bps in the US. CDX IG and HY were, however, 3bps and 11bps wider, respectively. Elsewhere, WTI oil first tested breaking through $55/bbl yesterday, after Russia stopped short of committing to supply cuts, before recovering to close +0.52% at $56.76. Bond markets were relatively quiet, with Treasuries and Bunds ending -0.4bps and +0.6bps, respectively, albeit masking bigger intraday moves. BTP yields rose +10.6bps to 3.597%, within 10 basis points of their recent closing peak, as rhetoric between Italian officials and their European peers continued to intensify. Finance Ministers from Austria and the Netherlands separately spoke publicly about their concerns, and expressed their hope that the European Commission will loyally enforce the fiscal rules. Italian Finance Minister Tria tried to calm conditions by framing the disagreement as relatively minor, though he also accused the Commission of being biased against expansionary policies, which he argued are needed to avert a macro slowdown. Back to credit, as we highlighted yesterday, the recent weakness in the asset class has become a talking point for broader markets and while our view is now that value is starting to emerge, there are an increasing number of idiosyncratic stories plaguing the market. There were a couple more examples yesterday with the aforementioned story about Nissan removing its chairman after being arrested for violations of financial law. This caused Renault’s CDS to widen +25.0bps (equity down -8.43%), while Vallourec bonds dropped 15pts after falling 11pts on Friday as concerns mount about the company’s rising leverage in the wake of recent results. Like we’ve see in equity markets, it does feel like credits are now getting punished with sharp moves in the wake of negative headlines Certainly something to watch, but as we said above, credit is now much more attractively priced than it has been for some time. From steel tubing to Downing Street, where we’ve actually had a rare temporary lull for Brexit headlines over the last 24 hours, although behind the scenes it does look we’re getting closer to the threshold for a confidence vote in PM May with the Times yesterday reporting that “senior Brexiteers” had told reporters that they had “firm pledges” from over 50 MPs to submit letters. As a reminder, 48 are needed to trigger the process. Looking further out, yesterday DB’s Oliver Harvey published a report arguing that there is still a path towards an orderly Brexit based on the existing Withdrawal Agreement should May survive a confidence vote. This path is provided by the political declaration on the future economic relationship. The latter has yet to be negotiated, and as the EU27 and UK recognise in the joint statement, the existing temporary customs arrangement (TCA) already provides a basis for a future economic relationship. Oli argues that the UK should push for the political declaration on the future relationship to explicitly commit the UK to a form of Brexit that might be described as “Norway plus.” The temporary customs arrangement would become permanent, but under the governance framework of UK membership of the EEA and EFT. The UK should tie the political declaration on the future relationship to the good faith clause in the existing Withdrawal Agreement, meaning that if negotiations were not pursued on these lines after the transition period had begun, the UK could withhold payments from the EU27. This would help to allay concerns from across the political divide that the UK would be “trapped” in a sub optimal customs union with the EU27. Meanwhile, to complicate matters, Bloomberg has reported that the EU is mulling over issuing a series of separate statements on Brexit on Sunday, in addition to the Withdrawal Agreement and the Political Declaration. This comes after pressure from some EU countries not to appease any additional UK demands. Elsewhere, the SUN has reported that the PM May has drawn up a secret plan to scrap the Irish backstop arrangement in an attempt to win over angry Tory Brexiteers after a meeting with them yesterday. However, if a mutually agreeable solution couldn’t be found over the last couple of years, it seems tough to imagine one was finally found yesterday afternoon. We’ll see. Further adding to the complexity of where Brexit heads, last night the DUP abstained on the UK finance bill, which implements the budget. This stops short of their prior threat to actively vote against the legislation, but is still a surprise and signals that further political turbulence between PM May and the DUP is likely. The bill only just scraped through. Sterling finished +0.14% yesterday and this morning is trading flattish (+0.02%) in early trade. Sentiment more broadly in Asia is following Wall Street’s lead with almost all markets trading in a sea of red. The Nikkei (-1.25%, with Nissan Motors down as much as -5.41% and Mitsubishi Motors -6.71%), Hang Seng (-1.84%), Shanghai Comp (-1.63%) and Kospi (-0.96%) are all down along with most other markets. Elsewhere, futures on S&P 500 (-0.29%) are extending losses as we type. Back to yesterday, where as we mentioned at the top, weak US homebuilder sentiment survey data played its part in the moves for markets. The November NAHB housing market index tumbled to 60 from 68 in October after expectations had been for just a 1pt drop. That’s the lowest reading since August 2016 and biggest one-month drop since February 2014. The details weren’t much better and falls into line with the expectation of a softer outlook for housing. As you’ll see in the day ahead we’ve got more housing data in the US today so worth keeping an eye on even if the October data for starts could be distorted by Hurricane Michael. As far as the day ahead is concerned, we’re fairly light on data today with Q3 employment stats in France, October PPI in Germany and November CBI total orders data in the UK the only releases of note. In the US, there should be some interest in the October housing starts and building permits data, especially following Fed Chair Powell’s recent comments acknowledging a slowdown in the housing market and yesterday’s homebuilder data. Away from that, the BoE’s Carney is due to appear before the Parliament’s Treasury Committee to discuss the Inflation Report, while the ECB’s Nouy and Bundesbank’s Weidmann are both scheduled to speak at separate events.
US Futures Jump On Fresh Hopes For China Trade Deal, Dovish Powell Speech
In a generally quiet overnight session, renewed hopes for a thaw in U.S.-China trade relations at the upcoming G20 summit helped global shares rise to a one-week high on Wednesday, though lingering fears of a no-deal outcome weighed on European bourses. U.S. futures rose, extending on Tuesday's rebound and tracking gains in Asia as investors rekindled their risk appetite before a key speech by Fed chair Powell who many hope will reverse yesterday's hawkish rhetoric by Clarida, and come off as dovish, especially after this morning's report that Steve Mnuchin has been pushing for a shift from hiking rates to balance sheet reduction. The dollar and Treasuries were steady. While President Donald Trump talked tough on the trade tariffs issue ahead of a meeting with Chinese President Xi Jinping on Saturday, markets focused on comments by White House economic adviser Larry Kudlow, who held open the possibility that the two countries would reach a trade deal. Kudlow’s comments helped Wall Street close higher and allowed Chinese and Japanese shares to rally 1% as the MSCI index of Asian shares ex-Japan gained 0.7%. The mood however fizzled into the European session, with the pan-European index giving up opening gains to trade flat and Germany’s DAX trading unchanged. Technology companies and retailers were the best performers in the Stoxx Europe 600 Index, which struggled to maintain early gains as a Tuesday report that Trump may soon decide about new taxes on imported cars, still weighed on sentiment, keeping Europe’s auto sector shares 0.6 percent in the red. "An expectation is being priced into markets ahead of the G20 meeting that we will see some deal or at least a framework for a deal between Trump and (Chinese President) Xi Jinping,” said Bernd Berg, global macro strategist at Switzerland-based Woodman Asset Management. “But if they come out with nothing this weekend, it’s going to be very bad." Traders are also focusing on a speech at 12pm ET by Fed Chair Jerome Powell to see if he offers clues on how many more times the Fed could raise interest rates, following yesterday's modestly hawkish if cautious take from vice chair Clarida. While Fed Vice Chair Richard Clarida took a less dovish stance on Tuesday than some had expected and backed more rate rises, Powell and his colleagues have in recent weeks alluded to global volatility, leading many to speculate the bank’s three-year-long rate rise campaign could pause in 2019. Continued uncertainty over global trade as well as Brexit and Italy’s ongoing conflict with the European Union, have supported the U.S. dollar, which rose to a two-week high and approached the highest level hit in 2018. While the main driver for the greenback is the U.S. interest rate path, Rodrigo Catril, senior strategist at National Australia Bank, said it was also benefiting from the uncertain mood. “Markets seem to be jumping at shadows at the moment and against this backdrop of uncertainty, the dollar remains the preferred option for weathering the storm,” Catril said. Investors are also monitoring developments in Italy’s row with the EU over its budget spending, with Germany’s Handelsblatt and Italy’s La Stampa quoting EU commissioner Valdis Dombrovskis as saying the draft budget needed “substantial correction”. The 10-year Treasury yield drifted ahead of Jerome Powell’s speech as European bonds nudged higher and the Euro was range bound. Italian bond yields flatlined after sharp rallies that were triggered by what appeared to be a more conciliatory stance from the government over the issue. The dollar was mixed versus its Group-of-10 peers, trading in narrow ranges ahead of key events this week and EUUSD hovered below 1.1300; Treasuries were little changed with the 10-year yield at 3.05%. Sweden’s krona gained even after retail sales and an economic tendency survey missed estimates. The pound trimmed some of the previous session’s losses as U.K. Prime Minister Theresa May appeared to back down in a key Brexit battle with Parliament. Brent crude handed back earlier gains to trade little changed. Brent (-0.4%) and WTI (-0.1%) are lower heading into the US open after initially trading positive. A larger than expected build in API crude stockpiles of +3.453mln compared to the expected build of +0.8mln had little impact on the price rebound at the time which instead focused on the larger than expected gasoline draw. Additionally, three North Sea forties crude cargoes which were scheduled to load in December have been cancelled due to the temporary closure of the 150,000 BPD capacity Buzzard oilfield. Saudi Energy minister Al Falih stated this morning that Saudi will not and cannot reduce output on their own, and is hopeful that upcoming meetings will result in agreement to stabilise the market. Gold is slightly lower as the dollar continues to firm, although the yellow metal has rebounded from lows of USD 1211.3/oz in the previous session. Separately, copper is higher following a 3-session decline although, gains for the metal have been restricted by ongoing US-China tensions, with the most recent comments coming from White House Economic Advisor Kudlow saying that US President Trump is prepared to raise tariffs if G20 talks are not constructive. On other markets, cryptocurrency bitcoin jumped 6 percent to above $4,000, its biggest one day jump since the summer, and extending its rebound from a low of $3,475 touched on Sunday. Today's expected data include mortgage applications, wholesale inventories, and new home sales. Burlington Stores, Royal Bank of Canada, Tiffany, and Weibo are among companies reporting earnings. Market Snapshot
S&P500 futures up 0.1% to 2,686.75
STOXX Europe 600 up 0.06% to 357.60
MXAP up 0.7% to 152.77
MXAPJ up 0.7% to 490.34
Nikkei up 1% to 22,177.02
Topix up 0.6% to 1,653.66
Hang Seng Index up 1.3% to 26,682.56
Shanghai Composite up 1.1% to 2,601.74
Sensex up 0.8% to 35,785.59
Australia S&P/ASX 200 down 0.06% to 5,725.08
Kospi up 0.4% to 2,108.22
German 10Y yield fell 1.3 bps to 0.337%
Euro down 0.05% to $1.1283
Italian 10Y yield rose 2.0 bps to 2.92%
Spanish 10Y yield rose 0.2 bps to 1.556%
Brent futures down 0.3% to $60.05/bbl
Gold spot down 0.2% to $1,213.28
U.S. Dollar Index little changed at 97.38
Top Overnight News from Bloomberg
Treasury Secretary Steven Mnuchin privately asked bond dealers and investors in October whether they want the Federal Reserve to tighten monetary policy by raising interest rates or through faster cuts in its securities portfolio, six people familiar with the matter said; Mnuchin’s question could be seen as suggesting a way for the central bank to accomplish its goal of preventing a strong economy from overheating without triggering the ire of President Donald Trump
U.K. Prime Minister Theresa May has backed down in a key Brexit battle with Parliament, ditching moves to stop lawmakers trying to re-write her plans, according to an official. Risk of no-deal Brexit choking ports rising, U.K. lawmakers say
President Donald Trump and China’s Xi Jinping will meet over dinner Saturday evening in Buenos Aires marking a pivotal moment in the escalating trade war between the world’s two largest economies. Trump-Xi meeting puts emerging markets on pain-or-pleasure watch
President Donald Trump renewed his attack on Federal Reserve Chairman Jerome Powell, telling the Washington Post he’s “not even a little bit happy” with his choice to head the central bank
Federal Reserve officials on Tuesday sprinkled small doses of concern into otherwise upbeat assessments of the U.S. economy. Federal Reserve Vice Chairman Clarida backs Fed’s gradual hikes with neutral rate uncertain
The U.K.’s effort to rejoin a key World Trade Organization agreement that governs public procurement opportunities worth $1.7t a year gained provisional backing on Tuesday
Credit Suisse Group AG is set to make Madrid its post-Brexit trading hub in the European Union after initially planning to move only some investment banking positions to the Spanish capital from London, according to people with knowledge of the matter
Italian Prime Minister Giuseppe Conte said the budget negotiations with the European Union “won’t be easy,” as the government sticks to its spending plans, according to an interview published by Corriere della Sera
Asian equity markets traded mostly positive following a similar lead from Wall St. but with the session initially mired by lingering uncertainty regarding US-China trade relations. Nikkei 225 (+1.0%) outperformed as the index coat-tailed on the recent advances in USD/JPY, while ASX 200 (-0.1%) was subdued by weakness in miners after the metals complex felt the brunt of the recent USD strength and with financials subdued by AMP Capital amid risk of further mischarging cases and provisions. Elsewhere, Hang Seng (+1.3%) and Shanghai Comp. (+1.0%) were higher but with price action choppy in early trade amid tentativeness heading into the Trump-Xi showdown at this week’s G20 and as participants mulled over various comments from officials including White House Economic Adviser Kudlow who affirmed that Trump could hike tariffs if no constructive talks occur at G20 and that the White House is disappointed in China's response to the trade issue. However, Kudlow also noted that Trump is open to a deal with China and there were recent comments from China’s Vice Premier Liu that China wants a negotiated solution on trade based on mutual respect. Finally, 10yr JGBs weakened amid a lacklustre tone in T-note futures and with the BoJ’s presence in the bond market overshadowed by the outperformance of Japanese stocks. China's US envoy said selling or reducing purchases of US Treasuries would be very dangerous like playing with fire, while the envoy doesn't think anybody in Beijing is seriously thinking about pulling back from US Treasury debt market should tensions worsen. Furthermore, there were reports that China’s Ambassador to the US warned of dire consequences if the trade war leads to economic separation and that China prefers a negotiated solution, while the Ambassador warned that China will retaliate in proportion to any US sanctions regarding Muslim Uighurs in Xinjiang. Top Asian News - Bank of Thailand Minutes Signal an Interest-Rate Hike Is Coming - Furor Over Gene-Altered Babies Deepens With China Project Halted - Pakistan’s Umar Says No Hurry for IMF Deal as Talks Resume - Turkey Sinks to Last on Emerging-Market Scorecard; Malaysia Tops - Brookfield Is Said to Be in Talks to Invest in Dubai’s Meraas In a slightly choppy session thus far, European equities (Eurostoxx 50 +0.3%) have held on to opening gains seen in the wake of the upbeat US and Asia-Pac sessions, despite lingering trade concerns. The most recent interjection came from White House Economic Adviser Kudlow who commented that Trump is open to a deal with China and that the raising of tariffs to 25% is not a "certainty" but will be implemented if no constructive talks occur at the G20. In terms of sector specifics, IT names are the clear outperformers at this stage of the session with Wirecard (+1.3%) and Dialog Semiconductor (+3.1%) notable gainers in the tech-space after trying to recoup recent losses with not much else in the way of key newsflow. Noteworthy individual movers include EDF (+3.1%) with shares buoyed by reports that that a potential increase in the French government’s stake in the Co. would take place next year. To the downside, Tenaris (-8.2%), sit at the foot of the Stoxx 600 after the Co.’s chairman was indicted in a graft case, whilst Continental shares (-5.4%) have been weighed on by negative comments from Redburn who have warned over the group’s EBIT prospects in 2019. Top European News
Continental AG Falls After CFO Sees Margin Pressure Persisting
Italy Premier Says Social Stability Takes Priority Over Finances
LafargeHolcim Says Cost-Cutting Drive Will Lift 2019 Profit
Commerzbank, Helaba Are Said to Drop Out of NordLB Bidding
In FX, the DXY was off bet levels but retaining an underlying bid with supportive month end flows alongside HIA and SOMA redemption (24.9bln comes due on Friday) all impacting, while market participants keep a close eye on Fed Chair Powell’s speech scheduled for later today where he may stop the USD in its tracks or exacerbate the rally. The index has gained more ground above 97.000 to just over 97.500 before losing some momentum but still on the course to challenge the YTD high at 97.693, technically if not fundamentally. EUR: more choppy trade for the single currency with EUUSD trading around the middle of a 1.1267-1.1304 range having taken out stops at 1.1275. Italian politics keep weighing on the currency with the European Commission unimpressed as it will begin disciplinary actions on Italy regarding debt before Christmas. EU Commissioner Dombrovskis also added that a cut of 0.2% of the 2019 budget target is not enough. EUUSD is being drawn towards a large amount of option expiries between 1.1275 – 1.1300 (1.5bln). Looking ahead, markets will be keeping a close eye on the budget discussion between the Italian PM, two Deputy PM and Finance Minister for any hints of a budge towards EC’s direction. CAD – Another victim of the USD strength and global trade jitters as Trump’s economic advisor Kudlow said the USMCA agreement is to be signed on Friday at the G20 summit, but sticking points remain in regards to dairy. Note, choppy oil prices have hardly helped the Loonie slide to fresh multi-month lows around 1.3330. JPY - Edging closer to 114.00 vs. the buck with heavy option expiries around 113.50-55 (1.47bln) and 114.00 (1.9bln). EM – Mostly weaker as the greenback hold firm with RUB as the standout underperformer amid the ongoing escalation between Russia and Ukraine, though Germany and France stated they are against stricter Russian sanctions for now, while there were witness reports of a Russian minesweeper ship heading towards the Sea of Azov share by Russia and Ukraine. On the flip side, the Russian Central Bank governor emerged earlier with a hawkish tilt whilst keeping options open for the next meeting. Note, USD/RUB is at 67.4000. In commodities, Brent (-0.4%) and WTI (-0.1%) are lower heading into the US open after initially trading positive. A larger than expected build in API crude stockpiles of +3.453mln compared to the expected build of +0.8mln had little impact on the price rebound at the time. Additionally, three North Sea forties crude cargoes which were scheduled to load in December have been cancelled due to the temporary closure of the 150,000 BPD capacity Buzzard oilfield. Saudi Energy minister Al Falih stated this morning that Saudi will not and cannot reduce output on their own, and is hopeful that upcoming meetings will result in agreement to stabilise the market. Gold is slightly lower as the dollar continues to firm, although the yellow metal has rebounded from lows of USD 1211.3/oz in the previous session. Separately, copper is higher following a 3-session decline although, gains for the metal have been restricted by ongoing US-China tensions, with the most recent comments coming from White House Economic Advisor Kudlow saying that US President Trump is prepared to raise tariffs if G20 talks are not constructive. Looking at the day ahead, the focus for the market is likely to be squarely with Fed Chair Powell’s speech. Away from that we also have the second revision of Q3 GDP in the US where no change from the +3.5% qoq saar estimate is expected. The October advance goods trade balance reading should also be closely watched with the consensus expecting a widening in the deficit to $77bn from $76bn last month. Also due out in the US will be October new home sales and the Richmond Fed manufacturing index print. It is another busy day for ECB speakers however with Coeure, Guindos and Praet all due to speak. The BoE’s Carney will also speak at the Financial Stability Report press conference this afternoon when we will also get the latest annual bank stress test results. US Event Calendar
7am: MBA Mortgage Applications, prior -0.1%
8:30am: Wholesale Inventories MoM, est. 0.4%, prior 0.4%, Retail Inventories MoM, est. 0.5%, prior 0.1%
8:30am: GDP Annualized QoQ, est. 3.5%, prior 3.5%; Personal Consumption, est. 3.9%, prior 4.0%
8:30am: Core PCE QoQ, est. 1.6%, prior 1.6%
10am: New Home Sales, est. 575,000, prior 553,000
10am: Richmond Fed Manufact. Index, est. 15, prior 15
12pm: Fed’s Powell Speaks to Economic Club of New York
DB's Jim Reid concludes the overnight wrap One thing I haven’t heard much about this year is a Santa Claus rally but the US has now had two up days in a row for the first time since mid month so maybe Santa is trying to get some momentum going. In fact given the conviction with which markets have moved in recent weeks, yesterday was a actually a rare calmer day with US equities opening lower but floating upward into their close. The S&P 500 ended +0.33% despite opening down -0.66%, while the DOW gained +0.44% and the NASDAQ closed flat. Attention continues to focus on this weekend’s meeting between Presidents Trump and Xi. The White House’s top economic advisor Larry Kudlow confirmed today that the two leaders will have dinner on Saturday night at the G-20 in Buenos Aires. He said that “there is a good possibility that we can make a deal” and “I don’t want to go overboard, but he [Trump] has indicated some optimism.” So hopes are continuing to build, and emerging market equities, which would benefit from a benign trade outcome, outperformed yesterday gaining +0.70%. Apple continues to struggle and traded -0.22% lower yesterday as concerns continue regarding the company’s demand outlook and possible tariffs on components for their goods. Notably, Microsoft overtook it to become the world’s largest company by market cap again for the first time since October 2003! The last time Microsoft was larger than Apple was back in May 2010 (though at that time, Exxon Mobile was larger than either of the tech giants). Since Apple peaked in early October, it has shed around $300 billion of market cap, while Microsoft has shed ‘only’ $60 billion, or the equivalent of Pakistan’s GDP to the equivalent of Panama’s respectively. So in 7 weeks Apple has lost the entire annual GDP of a country with 197 million people in terms of market cap. Europe struggled after an early positive open to close slightly lower across the board with the STOXX 600 ending -0.26%. Part of the reason for the dip in Europe seemed to lie with a story in the German business magazine WirtschaftsWoche (WiWo) which reported that President Trump may, as soon as next week, impose tariffs on cars imported into the US. However the details of the story appeared vague with the source also referencing “EU circles,” while the EU later rebutted the story. That said, autos lagged the wider market in the STOXX 600 yesterday with the sector down -2.52% with EU Trade Commissioner Malmstrom also repeating the warning of the risk of US tariffs on cars. Making much less of impact on markets yesterday than his speech from two weeks ago were the comments from Fed Vice-Chair Clarida. It’s hard to argue that there was much new information for the market with many of his points a rehash from the October speech. Interestingly, there was no mention of financial conditions, global growth, or recent market volatility which is perhaps a touch hawkish at the margin, as it potentially signals the Fed isn’t hugely concerned about recent developments. Also, Clarida had previously outlined both upside and downside risks to the inflation outlook, but yesterday he dropped his reference to the downside scenario. The flip side however was Clarida’s mention that market- and survey-based measures of inflation expectations had slipped and also that, with an uncertain r-star, the Fed should infer its level from incoming market and economic data. Treasuries appeared fairly nonfussed though with 10-year yields moving as much as +1.8bps higher but quickly snapping back before ending the session close to flat at 3.055%. The USD index gained +0.31%. Later in the session, Chicago Fed President Evans highlighted that inflation is at target and said he favours getting policy back to neutral. The market did not react, but his comments are significant as he will be a voting member of the FOMC in 2019. His most recent vote was a dissent against the rate hike in December 2017. Staying with the Fed, today the baton passes to Fed Chair Powell when he speaks at the Economic Club of New York at 5pm GMT on “The Federal Reserve’s framework for monitoring financial stability.” Our US economists previously highlighted that they expect Powell to reiterate the Fed’s plan to get back to neutral. However, since Powell has previously emphasized that neutral is highly uncertain, they are also watching for any hints that Powell sees recent market developments and/or slower activity in rate sensitive sectors like housing and capex as evidence that neutral could be lower than previously thought. This morning in Asia markets are following Wall Street’s lead with Nikkei (+0.96%), Hang Seng (+0.91%), Shanghai Comp (+0.86%) and Kospi (+0.30%) all up with a rally largely driven by technology shares. Elsewhere, futures on S&P 500 (+0.03%) are pointing towards a flat start. Moving on. Yesterday’s slew of data in the US was unlikely to move the dial for policy makers much at the Fed. The S&P CoreLogic National Home Price Index rose 0.33% mom and 5.15% yoy on a seasonally adjusted basis, roughly in line with expectations. The FHFA purchase only house price index rose +0.2%, the third weakest month since January 2015. Higher interest rates and tax changes continue to weigh on the housing sector. On the other hand, consumer confidence and the labour market continue to look strong, with the Conference Board Consumer Confidence index printing at 135.7 as expected, down 2.2pts but near its multi-decade high. The labour market subindex rose to 34.4, a new cycle high. In other news, the daily Italy update consisted of another comment from the League suggesting that the deficit could be lowered to the 2.2% to 2.3% range, this time from Armando Siri. Reuters also reported that EU government delegates are today expected to back the EC’s disciplinary move against Italy, however a formal disciplinary proceeding may not begin until February. Also out yesterday was an MNI article suggesting that the ECB might be willing to consider OMT as an option for Italy should spreads come under further pressure. The story did appear to be rightly ignored by the market however, especially considering that OMT is conditional on an ESM programme. We are not close to being there yet, even if our head of research David Folkerts-Landau believes that the ESM and structural reforms will need to eventually be negotiated together in a grand bargain to deal with the Italian problem (see the op-ed here from David). After a good run, BTPs were slightly weaker yesterday with two-year yields closing +3.3bps higher and 10-year yields +2.0bps. As we go to print Italian daily Corriere Della Sera reported PM Conte as saying that dealing with the EU over the budget wont be easy while adding that Italy will push ahead with reforms as social stability is more important for Italy. Elsewhere, the EC VP Dombrovskis said in an interview with La Stampa that Italy needs a “significant correction” of its budget. Indeed as we’re pressing the send button HB is reporting that the EU will open deficit procedures before Christmas. So the pressure is still high even if the news flow has improved of late. Over to Brexit, where Prime Minister May continues to try to sell her Brexit Withdrawal Agreement to the public and to lawmakers. The leader of the DUP, Arlene Foster, said yesterday that “as far as I can see, this [deal] is not going through parliament” and the pound dropped -0.73% versus the dollar, as passage looks less and less likely and a hangover from the Trump comments the previous night on it being a better deal for the EU and that it precludes a UK/US free trade deal percolated. Nevertheless, a reminder that we turned bullish on the pound on Monday due to two key factors: first, the Government will allow amendments during the legislation process, and second, Labour has signaled their willingness to work through the amendment channel rather than try to topple the government. Together, these ingredients should enable the ‘soft Brexit’ majority in Parliament to coalesce around a non-disruptive exit plan. Voting on the motion to accept or reject the Brexit deal will start in the House of Commons at 7 p.m. on December 11 but the “Meaningful Vote” debate will start on December 4. There will be five days of 8hrs debate, each led by a different cabinet minister. So we may get an idea of potential amendments from next week. As far as the day ahead is concerned, as noted earlier the focus for the market is likely to be squarely with Fed Chair Powell’s speech. Away from that we also have the second revision of Q3 GDP in the US where no change from the +3.5% qoq saar estimate is expected. The October advance goods trade balance reading should also be closely watched with the consensus expecting a widening in the deficit to $77bn from $76bn last month. Also due out in the US will be October new home sales and the Richmond Fed manufacturing index print. This morning in Europe it’s quiet with December consumer confidence in Germany and the October M3 money supply reading for the Euro Area the only data due. It is another busy day for ECB speakers however with Coeure, Guindos and Praet all due to speak. The BoE’s Carney will also speak at the Financial Stability Report press conference this afternoon when we will also get the latest annual bank stress test results.
The monster paragraph below, which is titled "On Proof", was taken from a website/blog I found while searching for a paper authored by CSW. The site I found appears to be some sort of confessional-tell-all CV authored by CSW to prove his identify. The text doesn't prove anything about CSW's work in bitcoin if true, but its possibly relevant to his ability to design bitcoin, his overall genius, and credibility. I have no position on whether Craig Wright is Satoshi at the moment. I have no information about whether the wall-o-text contains anything true, who runs the site I found, or what the site is exactly. However, the text-wall contains plenty of info about CSW that can be cross-checked with official records. In addition to the text (the wall is his, not mine), I've provided a link to the site, taken and an imgur album of my screen-captures. Some of the pictures show the browser tabs I had open when they were taken for time-stamping purposes. WARNING. There is a downloader thing on the site, and I'm not sure about the funky URL. Be careful if you do visit. http://bvde.cba.pl/9178.html (Text below) http://imgur.com/a/NCfdt It seems that I have to do this every couple years and each time it is generally worse as I have added to the list. In recent months I have been causing trouble again and as such there are always those who choose not to believe me or to engage in an attack on my character as a solution to not addressing the issue at hand. Let us start with career and that I am the VP of GICSR in Australia. Other than using an email address at GICSR, I am listed on the board as a director. Next, I am a trustee with the Uniting Church Trust Fund and am otherwise involved with the UC. That is me on page two of the funds newsletter where I had been accepted in the appointment. I have shaved, but it is still me in the photo. My role at Charles Sturt University is noted below and I have staff ID 11293457 if you want to actually check that. On certifications. I hold the three platinum certifications GSE, GSE-Malware and GSE-Compliance from GIAC. I will add my SANS/GIAC certs. I have more than any other person globally (not a boast, it is a fact). This is 37 Certs from GIAC alone. Click the link if you do not believe me. The answer is not just to believe this, validate it. All up, with Cisco and others I have over 100 certifications. Now, do you really care if you believe the total? Not really, and does it matter, not really. Some of those will start to disappear as I cannot maintain them and actually have a life anymore. I have 27 recertification’s next year that I will do at a cost of over $11,000. I will let some lapse. Degrees and more I am not going to cover all of my degrees any more. I will not discuss more than post graduate and a list of the papers associated with my doctoral work and I will simply cover those related to my profession here. I will not discuss my role as a lay pastor or theology degree other than face to face and only whit those I choose to discuss it with. There is enough to know I am involved with the Uniting Church and I am not here to convert people. If you are an atheist, that is your choice and I will not try to sway you at all. The thing is, atheism is also a belief. It is not and cannot be proven with science and hence is in a way also a religion even if in the negative. I do not wish to debate this (unless it is face to face, I like you and there is wine involved). If you are not happy with my post graduate qualifications, adding undergraduate qualifications right down to the associate degree level will add little. Then, does my having an Associate degree in Science (Organic Chemistry, Fuel sciences) add anything to my role in digital forensics and information security. If you really want to know what these are, there are old posts that searching will eventually uncover. As for the bio and claim that I am “a perpetual student with numerous post graduate degrees including an LLM specializing in international commercial law and ecommerce law, a Masters Degree in mathematical statistics from Newcastle as well as working on his 4th IT focused Masters degree (Masters in System Development) from Charles Sturt University where he lectures subjects in a Masters degree in digital forensics. He is writing his second doctorate, a PhD on the quantification of information system risk at CSU.” Charles Sturt University The masters degrees from CSU are: MMgmt(IT) – Masters of Management (IT) MNSA – Master of Network and System Admin MInfoSysSec – Master of Master Information Systems Security MSysDev – Master of System Development (nearly complete… I am just running out of subjects to do at the University. I even needed to take one where I was the author of the text just to have the credit points). Next year I complete my second doctorate. I also have two other Masters degrees not from CSU (the 4 they note in the link are those listed above), a Masters in Statistics (Newcastle AU) as well as a Masters in Law (Northumbria, UK). I am also doing the SANS Masters degree and have one more thing to complete this. That will give me 2 doctorates, 7 masters degrees and 8 other degrees. It is not too difficult to check that I am enrolled in the MSISE at the SANS Technology Institute (Master of Information Systems Engineering). Other than having presentations on the site (see this link) it would be crazy for me to state this. I have 37 GIAC certifications (which is most of either of the STI masters degrees. If I was to misrepresent my status at SANS/GIAC, the ethics policy means I will lose them all. So, first it is simple to actually check AND I have too much to lose in lying. I do this every couple years. Here is a link to a past time I had to do the same. Northumbria University I completed a Masters in Law in a UK based University. This is: LLM Northumbria – Master of Law (International Commerce Law, Ecommerce Law with commendation). PG Diploma in Law My dissertation was on "Internet Intermediary Liability". I received a commendation. If you need to check, I had Student Number: 05024288 Newcastle University MSTAT – Master of Statistics I was student number 3047661 at the University of Newcastle here in Australia. My thesis that I wrote to complete this degree was on “The homogeneity of Variances”. I analysed and tested many of the common statistical methods used in homogeneity tests in statistics (such as the Levene tests). Why? The links are associated with universities and others, so it is not too difficult to check me out. I am not stopping you. The only thing I do not wish to discuss openly is my role with the Uniting Church. My theological belief is one of the few things that remains personal and more than the stuff the church posts publically about me (which I attempt to minimise) I will not discuss. If you believe that my trying to maintain one personal and private thing in my life means I am lying, believe as you will. It does not impact my chosen career in information security and nor does it detract from this. Contrary to the believe structure some hold, one CAN be a doctor of the church as well as a scientist. Religion and Science do not overlap and nor should one seek to make them do so. We can never prove nor disprove the existence of any religion or other spiritual belief structure. This is why I also preach tolerance. I believe I am correct as far as I can be (and that is about zero as the human mind is too small to comprehend the infinite in any extent and any person who tells you differently is a liar or a fool). I comprehend and believe in my way, others in their own. Is Islam, Catholicism, Judaism etc right? Yes and no. Am I right, yes and know. Basically, we see a small aspect of the infinite and that is all we ever will. We can be right and wrong at the same time and will never be completely right as we cannot hold the concept of an infinite in our heads (and I have studied large number theory). In a way, I hate having to do this each few years. In this, I have scratched the surface of what I have done and that leaves many in disbelief. That stated, I fail in humility for this as well as other reasons. On Sanity I guess that the final aspect of this is on sanity. I have been accused of being insane for doing all I do. To take a quote from one of my doctoral supervisors: “Craig, you have a doctorate, why on earth would you want to go through this again. It is insane.” I love study. I can do it and I am good at it. I do not need to do formal study, but I like it. I enjoy the structure. I like the process and it means that I do more. I do not watch sport (I do play sport but there is a distinction) and I do not watch TV. Formal study is MY form of relaxation. To those people (usually without degrees) who keep attacking me and saying I cannot have done this, I offer you the chance to validate all of it. Now, the answer is that you can do something. Instead of engaging in an exercise designed to cut down tall poppies and to attack those who have done something, why not do something yourself? I will (and have in the past) helped others. I will do this for nearly anyone (none of us are not perfect and that includes me). There are ways that anyone can study these days. In fact, I am more than happy to help all I can to have people achieve this. Instead of attacking the character of others you see as frightening (and this really is what this is about), how about you spend the time doing a qualification yourself? Really, my email is public. I keep offering, instead of attacking the accomplishments of others, add to your own. I offer this and from time to time, people take me up on it. This is, I offer to help others improve their education. Not for money, not for fame, but as I want to have a better aware and education world. In this, I also benefit as a more educated (practically) world is one that will have fewer (though always some) issues and which could be more tolerant. Certification and membership numbers A limited subset of certifications I hold is listed below: CISSP # 47302 (ICS)2 Certified Information Systems Security Professional ISSMP # 47302 (ICS)2 Information Systems Security – Management Professional ISSAP # 47302 (ICS)2 Information Systems Security – Architecture Professional CISA # 0542911 IS Audit and Control Association – Certified Information Systems Auditor CISM # 0300803 IS Audit and Control Association – Certified Information Security Manager CCE # 480 ISFCE – Certified Computer Examiner ISSPCS # 051 International Systems Security Professional Certification Scheme MCSA # 3062393 Microsoft Certified Systems Administrator MCSE # 3062393 Microsoft Certified Systems Engineer MCSE # 3062393 Microsoft Certified Systems Engineer (Mail) MCSE # 3062393 Microsoft Certified Systems Engineer (Security) MCDBA # 3062393 Microsoft Certified Database Administrator MIEEE # 87028913 Member IEEE AFAIM # PM133844 Associate Fellow Aust Inst. Management (lapsed now as I have been culling memberships – they cost too much to maintain) MACS # 3015822 Senior Member Aust Computer Society GIAC… NOT ALLL GSE-Compliance #0001 [Platinum] GIAC Security Compliance (GSE-Compliance) GSEC # 10506 [Gold] GIAC Security Essentials Certification (GSEC) GCIH # 06896 [Silver] GIAC Certified Incident Handler GCIA # 02913 [Silver] GIAC Certified Intrusion Analyst GCFW # 01891 [Silver] GIAC Certified Firewall Analyst GCWN # 01234 [Silver] GIAC Certified Windows Security Administrator GAWN # 00894 [Silver] GIAC Assessing Wireless Networks GCUX # 00587 [Silver] GIAC Certified UNIX Security Administrator GNET # GIAC .Net GSLC # GIAC Security Leadership Certification GHTQ # 00368 [Silver] GIAC Cutting Edge Hacking Techniques G7799 # 0039 [GOLD] GIAC Certified ISO-17799 Specialist (G7799) GCFA # 0265 [GOLD] GIAC Certified Forensics Analyst (GCFA) GSNA # 0571 [GOLD] GIAC Systems and Network Auditor (GSNA) GSAE # 00141 [Silver] GIAC Security Audit Essentials (GSAE) GLEG # 0006 [GOLD] GIAC Legal Issues (GLEG) GLEG Incorporates GIAC Business Law and Computer Security (GBLC) GLEG Incorporates GIAC Contracting for Data Security (GCDS) GLIT GLEG Incorporates GIAC Legal Issues in Information Technologies (GLIT) GLFR # 0016 GIAC Law of Fraud (GLFR) GREM # 0586 GIAC Reverse Engineering Malware (GREM) GPCI # 0086 GIAC Payment Card Industry (GPCI) GSPA # 0101 GIAC Security Policy and Awareness (GSPA) GLDR # 0101 GIAC Leadership (GLDR) GWAS # 0535 GIAC Web Application Security (GWAS) GIPS # 0036 GIAC Intrusion Prevention (GIPS) SSP-MPA # 0416 Stay Sharp Program – Mastering Packet Analysis (SSP-MPA) SSP-GHD # 0246 Stay Sharp Program – Google Hacking and Defense (SSP-GHD) SSP-DRAP # 0171 Stay Sharp Program – Defeating Rogue Access Points (SSP-DRAP) Papers / Publications: Peer Reviewed Papers Right now, I have a further 8 papers in peer review. The following are all accepted and/or published. 2012 (Accepted) 1. Wright, C. (2012, February). Hacktivism, terror and the state: The Importance of Effectively Enforcing Cyber Security Legislation. Paper to be presented at the 10th Anniversary National Security Australia Conference. 2011 2. Wright, C. (2011, December) Who pays for a security violation? An assessment into the cost of lax security, negligence and risk, a glance into the looking glass. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. . 3. Wright, C. (2011, December) Current issues and liability facing Internet Intermediaries. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. 4. Wright, C. (2011, December) Criminal Specialization as a corollary of Rational Choice. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. Wright, C. (2011, December) A preamble into aligning Systems engineering and Information security risk measures. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. 5. Wright, C. & Via, T. (2011, December) Modeling System Audit as a Sequential test with Discovery as a Failure Time Endpoint. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. 6. Wright, C. (2011) “Exploiting format Strings with Python” Hakin9 7. Wright, C. (2011) “More Exploits with Python” Hakin9 8. Wright, C. (2011, September)Of Black Swans, Platypii and Bunyips. The outlier and normal incident in risk management. Paper presented at CACS2011 Australia. 9. Wright, C. & Zia, T. (2011, July)Compliance or Security, what cost? (Poster)” Australasian Conference on Information Security and Privacy. 10. Wright, C. (2011) “A comparative study of attacks against Corporate IIS and Apache Web Servers” Sans Technology Inst, USA 11. Wright, C. (2011) “Rationally Opting for the Insecure Alternative: Negative Externalities and the Selection of Security Controls” Republished and extended Paper, Sans Technology Inst, USA 12. Wright, C. (2011) “Rationally Opting for the Insecure Alternative: Negative Externalities and the Selection of Security Controls” Republished and extended Paper, Sans Technology Inst, USA 13. Wright, C. & Zia T (2011)”Rationally Opting for the Insecure Alternative: Negative Externalities and the Selection of Security Controls” CISIS Spain 14. Wright, C. & Zia T (2011)”A Quantitative Analysis into the Economics of Correcting Software Bugs” CISIS Spain 2010 15. Wright, C. (2010) “Software, Vendors and Reputation: an analysis of the dilemma in creating secure software” Intrust 2010 China 16. Wright, C. & Zia T (2010) “The Economics of Developing Security Embedded Software” SecAU Australia 17. Wright, C. (2010) “The not so Mythical IDS Man-Month: Or Brooks and the rule of information security” ISSRE USA 18. Wright, C. (2010) “Packer Analysis Report – Debugging and unpacking the NsPack 3.4 and 3.7 packer.” Sans Technology Inst, USA 2009 19. Wright, C. (2009) “Effective Patch Management – Saving Time and Getting Better Security” MISTI USA 20. Wright, C. (2009) “Database Auditing” Testing Experience, Germany 21. Wright, C. (2009) “SaaS Security” MISTI USA 22. CISecurity (Multiple) (2009) CIS BIND Benchmarks” Centre For Internet Security, USA 2008 23. Wright C, Kleiman D & Sundhar R.S. (2008) “Overwriting Hard Drive Data: The Great Wiping Controversy” Lecture Notes in Computer Science (Springer Berlin / Heidelberg) 24. Wright, C. (2008) “Detecting Hydan: Statistical Methods For Classifying The Use Of Hydan Based Stegonagraphy In Executable Files” Sans Technology Inst USA 25. Wright, C. (2008) “Using Neural Networks” Google 26. Wright, C. (2008) “Ensuring secure data transfer and data sharing” DQ Asia Pacific 27. Wright, C. (2008) “Record and Document Destruction in a Digital World” IT Security World, USA 28. Wright, C. (2008) “Managing Security in a Global Company” IT Security World, USA 29. Wright, C. (2008) “A Quick and Nasty overview of finding TrueCrypt Volumes” Sans Technology Institute 30. Wright, C. (2008) “Exploring Data Visualisation” Strategic Data Mining 31. Wright, C. (2008) “Statistical Methods to Determine the Authenticity of Data” CACS2008, Au 32. Wright, C. (2008) “Text Data Mining, the future of Digital Forensics” Hex Journal USA 33. Wright, C. (2008) “Compliance, law and Metrics: What you need to meet and how you prove it” SANS ACT 34. Wright, C. (2008) “Current Issues in DNS” Sans Technology Inst, USA 35. Wright, C. (2008) “Advanced Methods to Remotely Determine Application Versions” NS2008 LV, USA 36. Wright, C. (2008) “An in-depth review of the security features inherent in Firefox 3.0 Compared to IE 8.0” iDefense, USA 2007 37. Wright, C. (2007) “The Problem With Document Destruction” ITAudit, Vol 10. 10 Aug 2007, The IIA, USA 38. Wright, C. (2007) “Requirements for Record Keeping and Document Destruction in a Digital World” Sans Technology Inst, USA 39. Wright, C. (2007) “Electronic Contracting in an Insecure World” Sans Technology Inst, USA 40. Wright, C. (2007) “The Problem with Document Destruction” IRMA UK (Republished) 41. Wright, C. (2007) “Ethical Attacks miss the point!” System Control Journal ISACA 42. Wright, C. (2007) “Where Vulnerability Testing fails” System Control Journal ISACA 43. Wright, C. (2007) “Application, scope and limits of Letters of Indemnity in regards to the International Law of Trade” Internal Publication, BDO Aug 2007 44. Wright, C. (2007) “UCP 500, fizzle or bang” Internal Publication, BDO July 2007 2006 45. Wright, C. (2006) “Port Scanning A violation of Property rights” Hakin9 46. Wright, C. (2006) “A Taxonomy of Information Systems Audits, Assessments and Reviews” SANS Technology Inst USA 47. Wright, C. (2006) “RISK & Risk Management” 360 Security Summit AU 48. Wright, C. (2006) “A QUANTITATIVE TIME SERIES ANALYSIS OF MALWARE AND VULNERABILITY TRENDS” Ruxcon AU 2005 49. Wright, C. (2005) “Analysis of a serial based digital voice recorder” Published 2006 SANS Technology Inst USA 50. Wright, C. (2005) “Implementing an Information Security Management System (ISMS) Training process” SANS Darling Harbour AU 51. Wright, C. (2005) “Beyond Vulnerability Scans — Security Considerations for Auditors” ITAudit, The IIA, USA 52. Wright, C. (2005) “PCI Payment Card Industry Facts” Retail Industry journal, July 2005 2001 53. Multiple Authors (1999) “Windows NT Security Step by Step” SANS Technology Inst USA 2000 54. Ashbury A & Wright, C. (2000) “DNS Security in Australia” Net Security, June 2000. 1999 55. Wright, C. (1999) “A Comparative analysis of Firewalls” in “The Internet Hot Sheet” ATT Sept 1999 Books / Book Chapters 1. Wright, C. (2008) “0123456789The IT Regulatory and Standards Compliance Handbook: How to Survive Information Systems Audit and Assessments0123456789” Syngress USA 2. Litchko, J; Lang, D; Hennell , C; Wright, C & Linden, M V (2011) ““0123456789Official (ISC)2 Guide to the CISSP(R)-ISSMP(R) CBK0123456789” CRC Press, ISC2 USA 3. Kleiman, D; Wright, C; Varsalone, V& Clinton, T (2007) “0123456789The Official CHFI Study Guide0123456789” (Exam 312-49) (Paperback)” Syngress, USA 2007 This book is used as a text for ITE-513 at Charles Sturt University 4. Multiple Authors (2009) “0123456789Cisco Router and Switch Forensics: Investigating and Analyzing Malicious Network Activity0123456789”, Syngress Press 5. Multiple Authors (2009) “0123456789Mobile Malware Attacks and Defense0123456789”, Syngress Press 6. Multiple Authors (2008) “0123456789Check Point NGX R65 Security0123456789” Syngress, USA This book is used as a text at Charles Sturt University 7. Multiple Authors (2008) “0123456789Mobile Malicious Code0123456789” Syngress, USA 8. Multiple Authors (2008) “0123456789Best Forensic Book0123456789” Syngress, USA In 2012 the following book will be published by Taylor Francis Academic press: SCADA Security. I am the author of the Forensic chapter Chapter 16: Forensics Management
Did I miss anything? Do you have a Dogecoin community you want featured? Let me know! It’s 8:45AM EST and Sunday is FunDay, right? Right? Our Global Hashrate is holding at ~1430 Gigahashes per second and our Difficulty is holding at ~16674. As always, I appreciate your
Bitstamp has blocked all its russian customers for no reason!
Bitstamp has been informed that the Russian government is prohibiting access to Bitstamp’s website for all of our Russian customers. We deeply regret this inconvenience, and will attempt to resolve this situation as soon as possible. All Bitstamp accounts remain safe and secure. We have not been officially notified of the reason for this action, which we view as unjustified. We are not aware of any misuse of our services involving any Russian customer. Bitstamp poses no threat to the security of Russia or its economy. Bitstamp is a recognized leader in operating a safe, fully compliant exchange. We are attempting to contact officials in Russia to determine why they have taken this unfortunate action. We invite Bitstamp customers – and especially our Russian customers – to let us know if you learn anything more about this action, or have specific questions. We do not know much, but we will let you know what we lea rn, as we learn it. Please contact us at [email protected] We suspect that the ban is related to legislation pending in the Duma of the Russian Federation. For more background, see: http://www.coindesk.com/bill-bitcoin-ban-russian-legislature/ The proposed legislation would broadly ban the domestic use of BTC, and appears to criminalize use of an international exchange such as Bitstamp. To ensure compliance with the new regulatory regime, protect affiliate service providers, and most importantly – protect our valued customers in Russia – Bitstamp has decided to temporarily block access to its website from Russian IP addresses until we can assess the situation with more clarity. Again, we regret this inconvenience, but we do not want to expose anyone to possible fines or criminal sanctions by the Russian state. Best regards, Bitstamp team
I am a bit surprised Bitstamp (with its Slovenia/UK jurisdiction) is so concerned about Russian laws, but it’s up to them, they may be paranoid. OK. But even so, their arguments are not valid. If Bitstamp is lost here I will try to clarify some things for them:
Bitcoin is NOT banned/prohibited is Russia.
Access to Bitstamp's website is NOT prohibited by Russian Roskomnadzor (Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications), check here http://blocklist.rkn.gov.ru/
New Code of the Russian Federation on Administrative Offenses is being discussed now. There is a draft which is far from being finalized and accepted. The implementation of the new Code is planned for 2017.
48 points: LawnShipper's comment in President Trump on Twitter: "Despite so many false statements and lies, total and complete vindication...and WOW, Comey is a leaker!"
44 points: Hcfielden's comment in President Trump on Twitter: "The Fake News Media has never been so wrong or so dirty. Purposely incorrect stories and phony sources to meet their agenda of hate. Sad!"
43 points: deleted's comment in President Trump on Twitter: "As President I wanted to share with Russia (at an openly scheduled W.H. meeting) which I have the absolute right to do, facts pertaining...."
36 points: ergzay's comment in President Trump Ends Obama Era Protections For Undocumented Parents (DAPA)
35 points: Patronicus's comment in President Trump on Twitter: "Do you notice we are not having a gun debate right now? That's because they used knives and a truck!"
35 points: gjallard's comment in President Trump on Twitter: "You are witnessing the single greatest WITCH HUNT in American political history - led by some very bad and conflicted people! #MAGA"
33 points: Altherionftw's comment in Welcome to POTUSWatch, please read the sidebar and read previous meta threads (using this link) to get a better idea about what this sub is supposed to be, thank you!
32 points: SwingJay1's comment in President Trump on Twitter: "James Comey better hope that there are no "tapes" of our conversations before he starts leaking to the press!"
32 points: ckellingc's comment in President Trump on Twitter: "I believe the James Comey leaks will be far more prevalent than anyone ever thought possible. Totally illegal? Very 'cowardly!'"
31 points: AmoebaMan's comment in President Trump on Twitter: "The Fake News Media has never been so wrong or so dirty. Purposely incorrect stories and phony sources to meet their agenda of hate. Sad!"
parliamentary bodies in shaping legislation and exercising democratic scrutiny over EU internal policies. To contact the Policy Department or to subscribe for updates, please write to: Policy Department for Economic, Scientific and Quality of Life Policies . European Parliament . B-1047 Brussels . Email: [email protected] Bitcoin is a peer-to-peer version of electronic cash that allows payments to be sent directly from one party to another without going through a financial institution. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. – Satoshi Nakamoto Victoria will have a gain of £258,000 and she will need to pay Capital Gains Tax on this. After the sale, Victoria will be treated as having a single pool of 100 token A and total allowable costs ... UK bitcoin businesses seem, for the most part, to all take some measure or another to try and identify their customers for the purposes of preventing money laundering. Tax on Trading Bitcoin in the UK. Bitcoin trading regulation are based on securities: When Bitcoin & Co. get traded, the legislation is based on the existing regulations on securities. This means that according to the governmental guidelines for crypto taxation a trade with crypto assets is to be classified similarly as a trade with shares, securities and other financial products. Therefore ...
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