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| September 19, 2018

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Hard-pressed Chinese consumers are key to keeping the world’s second-largest economy on track

September 3, 2018 |

For the growth driver that will keep the world’s second-largest economy on track this year, look beyond Beijing or Shanghai.

Life for many in China’s most sophisticated consumer markets is getting harder, with soaring rents gnawing at disposable incomes. As Donald Trump’s trade war with China begins…


L.A. Times – Business

Pompeo: N. Korea Not Keeping Nuclear Promise

August 3, 2018 |

US Secretary of State Mike Pompeo says North Korea is far from living up to its pledge to denuclearize and remains in violation of numerous UN Security Council resolutions. Speaking Friday before he attends an Asian security forum with North Korea’s foreign minister, Pompeo told reporters in Singapore there was…
Newser

Hugh Hefner’s daughter Christie opens up about keeping Playboy founder’s legacy alive

July 12, 2018 |

For Christie Hefner, visiting the Playboy Mansion was a child’s dream.
FOX News

Trump praises military for keeping US ‘safe, strong, proud’

July 5, 2018 |

President Donald Trump on Wednesday praised the U.S. military for keeping America “safe, strong, proud, mighty and free” and used the Independence Day holiday to thank them for being willing to put their lives on the line in defense of the nation.
FOX News

ICOs Are Keeping More of the Pie to Themselves

March 24, 2018 |

ICOs Are Keeping More of the Pie to Themselves

With diminishing returns, increased demand, and pre-sales muscling out public sales, profiting from ICOs in 2018 is a tall order. Just to add to investors’ woes, the percentage of tokens allocated for public sale is also on the decline. On average, ICOs now keep more of the pie to themselves and dole out increasingly slender pieces to the public.

Also read: Game of Thrones Bitcoin Hacker Included in Broader Iranian Sanctions

Public Token Allocations Are Down 12% in Three Months

Dfinity, an ICO to create a decentralized world cloud computer, came in for flak this week after details of its public sale were revealed. It was reportedly seeking to raise $ 350 million from the public in return for 10% of the tokens. This would effectively value the company, which has yet to create a working product, at $ 3.5 billion. To add insult to injury, the public would be paying 200x the rate that Dfinity had charged their friends and family for tokens during the private sale round.

ICOs Are Keeping More of the Pie to Themselves
ICO public token allocations dropped from 55% to 43% on average between November and February

Dfinity has promised to release an official statement on the matter, presumably in a bid to justify its valuation and deep discounting. If these figures are confirmed to be accurate, they represent an extreme case, but are indicative of a more gradual trend: ICOs are selling less tokens to the public and keeping more to themselves and their advisors. News.Bitcoin.com has tracked average public token allocations since 2017, and found that this figure has dropped steadily since November. In February, the public received just 43% of all tokens issued on average, down from 55% in November.

Less Pie for the People

When the concept of the Initial Coin Offering was born, the notion was that the bulk of the tokens would be sold to the public and the project team would keep a small percentage to themselves to cover their wages for the next couple of years while they set about building the platform. Then, last year, some crowdsales started keeping an additional portion of tokens to incentivize dApp development or as a fund for onboarding new users. Instead of those costs coming out of the money raised by the crowd, they were now being counted as a separate deductible, leaving less tokens for the public.

News.Bitcoin.com examined the token allocation for 105 ICOs, each of which raised over $ 20 million. ICOs above that threshold tend to have more hype and thus can get away with issuing a lower percentage of tokens to the public. The average public token allocation for all 105 ICOs comes to 49%, a figure which includes pre-sale allocations that were open to the public. The actual percentage offered from project to project differs wildly. Some crowdsales, such as Elastos, 0Chain, and Fusion offered less than 25% of all tokens to the public, while EOS, Crypto20, Polybius, and Envion all sold more than 80%.

ICOs Are Keeping More of the Pie to Themselves

Because the average amount raised per ICO has been increasing, prior to November 2017 the sample set (based on crowdsales that raised >$ 20m) is too small to draw any meaningful conclusions. Between November 2017 and February 2018, however, the data is clear: the public’s average allocation has been dropping every month. Less pie for the people. More pie for the projects.

Do you think ICOs that issue less than 30% of their tokens are being greedy, or are they justified in keeping the majority of tokens back? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post ICOs Are Keeping More of the Pie to Themselves appeared first on Bitcoin News.

Bitcoin News

TMZ

Rick Ross Hospitalized, Machine Keeping Him Alive

March 3, 2018 |

Rick Ross has been hooked up to a machine that’s taking over the function of his heart and lungs … according to sources connected to the music mogul. Rick is in a Miami area hospital getting treatment in the cardiac unit — a strong sign he might…

TMZ.com

TMZ

Sofia Richie Won’t be in ‘Keeping Up with the Kardashians’

December 17, 2017 |

Sofia Richie won’t be on “Keeping up with the Kardashians” even though she’s dating Scott Disick because they haven’t crossed a certain bridge yet … his kids. Production sources tell TMZ … there’s absolutely zero plans for ‘KUWTK’…

TMZ.com

Why Rupert Murdoch is keeping the Fox lot in Century City even as he sells to Disney

December 16, 2017 |

Fox’s decision to hang onto its historic Century City studio lot even as it sold much of its assets to Disney in this week’s blockbuster $ 52.4-billion deal is a testament to the enduring value of the movie factories dreamed up a century ago by Hollywood pioneers.

Internet streaming services such…


L.A. Times – Business

Trump and the Federal Reserve Are ‘Keeping an Eye on Bitcoin’

December 1, 2017 |

Trump and the Federal Reserve Are 'Keeping an Eye on Bitcoin'

The U.S. government is very aware of cryptocurrencies and the rise of bitcoin. This week American authorities from multiple agencies such as the IRS, the Federal Reserve, and President Trump’s press secretary all explained they are monitoring cryptocurrencies and bitcoin’s recent popularity.

Also read: It’s Official – CME Group to Launch Bitcoin Futures December 18

U.S. Government Agencies Are Paying Attention to the Rise of Bitcoin

Trump and the Federal Reserve Are 'Keeping an Eye on Bitcoin'Bitcoiners from the U.S. may have some more stringent battles to fight ahead as multiple government agencies are looking into the use of cryptocurrencies and some officials seem somewhat cynical. For instance, the country’s Internal Revenue Service has been granted permission by a federal judge to review Coinbase accounts for people who transacted with $ 20,000 or more from 2013-2016. Then a couple of days later the Federal Reserve revealed it was contemplating its own digital currency, but launching the idea is a different story. The president of the Fed’s New York branch, William Dudley, explained he believes bitcoin and cryptocurrencies are “more of a speculative activity.”

Bitcoin Is Being ‘Monitored’ by Our Team

Following the statements from the New York Fed executive on November 30, president Trump’s press secretary, Sarah Sanders discussed bitcoin briefly at the White House press briefing. A reporter asked Sanders whether or not the president was following cryptocurrencies “specifically the major run-up with bitcoin,” explains the journalist.

“Does he have an opinion on it, and does he feel it is now something that needs to be regulated?” asks the reporter. The press secretary Sanders explains the government is watching bitcoin stating;       

The [Bitcoin situation] is something that is being ‘monitored’ by our team — Homeland Security is involved. I know it’s something that he’s [Trump] keeping an eye on — And we’ll keep you posted when we have anything further on it.

Trump and the Federal Reserve Are 'Keeping an Eye on Bitcoin'
Trump’s press secretary, Sarah Sanders.

Members of the Federal Reserve Are Concerned About Cryptocurrency Spillover Effects

Trump and the Federal Reserve Are 'Keeping an Eye on Bitcoin'
U.S. Federal Reserve vice chairman, Randal Quarles.

In addition to the White House press secretary’s comments the U.S. Federal Reserve vice chairman, Randal Quarles stated on the same day that the rise of cryptocurrencies poses a threat to “financial stability.” Discussing the subject at the 2017 Financial Stability and Fintech event, Quarles said retail investors and regulators need to watch out for threatening “spillover effects” tethered to the popularity of digital assets. The reason Quarles is concerned is because decentralized currencies are not backed by traditional reserves, and suffer from significant price swings.

“Risk management can act as a mitigant, but if the central asset in a payment system cannot be predictably redeemed for the U.S. dollar at a stable exchange rate in times of adversity, the resulting price risk and potential liquidity and credit risk pose a large challenge for the system,” explains Quarles during the Fed’s conference.

Like many U.S. officials and agencies, Quarles says research is needed and testing these cryptocurrencies to see if they can handle financial stress. “It is not clear whether the payment system would be able to function, in times of stress,” Quarles emphasizes.

What do you think about the U.S. government’s statements towards bitcoin and cryptocurrencies? Do these issues concern you? Let us know in the comments below.


Images via Pixabay, the White House, the Federal Reserve logo and Bloomberg.


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The post Trump and the Federal Reserve Are ‘Keeping an Eye on Bitcoin’ appeared first on Bitcoin News.

Bitcoin News

Rep. Jordan: Trump is keeping promises, Congress should too

October 14, 2017 |

House Freedom Caucus member reacts on ‘Your World’ to the president’s decision on the Iran nuclear deal.
FOX News