seniors Archives -
In today’s edition of The Daily, we look at the cryptocurrency entrepreneurs who now rank among the richest people in China, the limited return to operations of 1Broker, and a rather amusing attempt to explain Bitcoin to older folks by the AARP.
China’s Wealthiest Whales
The Hurun China Rich List 2018, the Chinese answer to the Forbes 400, was released on Wednesday and for the first time includes a total of 14 people working in the cryptocurrency space. This is the 20th annual ranking of the richest individuals in China, with a wealth cut-off of 2 billion yuan ($ 290 million). A total of 1,893 individuals made the list this year.
Two Bitmain executives — Zhan Ketuan (95th place with 29.5 billion yuan), age 39, and Jihan Wu (204th place with 16.5 billion yuan), age 32 — led the way. The third Chinese crypto whale, 41-year-old Binance founder Zhao Changpeng, took 230th place on the list at roughly 15 billion yuan. The report also noted that the blockchain industry is now officially the fastest-growing source of billionaires in China.
Other well-known crypto personalities on the list include Okex’s founder Star Xu, with 10 billion yuan, who took 354th place, as well as Leon Li of Huobi, who was ranked 556th, with 7 billion yuan.
1Broker to Start Processing
Withdrawal Requests Today
Marshall Islands-registered contracts-for-difference broker 1pool Ltd., which operates the 1Broker brand, has announced that the company will revive some if its functions today. The team tweeted that they will start processing clients’ withdrawal requests at 12:00 (UTC).
Three U.S. agencies took action against the international, bitcoin-funded securities dealer last month, including seizing its website domain for a period. The U.S. authorities alleged at the time that an undercover special agent with the Federal Bureau of Investigation “successfully purchased several security-based swaps on 1Broker’s platform from the U.S. despite not meeting the discretionary investment thresholds required by the federal securities laws.”
‘A Bunch of Computer Code’
It can be very difficult to explain the invention of cryptocurrency in a sentence or two, given that it’s a topic involving cryptography, computer science and economics. This is particularly true if one is trying to reach an audience that might be frightened or put off by new technologies and unfamiliar terms.
The AARP (formerly the American Association of Retired Persons) published a glossary of “Wall Street buzzwords” this week to help senior citizens improve their financial literacy and cut away the confusion when talking with high-finance big shots. But the list took a somewhat funny swipe at Bitcoin, while echoing some particularly tired tropes.
The glossary defines Bitcoin as “a bunch of computer code that a bunch of criminals, idealists and speculators agree is worth ‘real’ money. Sadly, its real-money value swings widely, making it impractical except for criminals, idealists and speculators.”
The AARP also defines Blockchain as: “1. A different bunch of computer code containing an unalterable record of a series of transactions. The most famous is a digital ledger recording all bitcoin transfers. 2. A word often uttered by companies hoping to snare investors’ attention — and dollars.”
The rest of the terms were also written in a comical way. For example, one entry defines an ETF as “marry a mutual fund to a stock and this is their baby.”
What do you think about today’s news tidbits? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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The post The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin appeared first on Bitcoin News.
Best Buy is acquiring San Diego’s GreatCall for $800 million, boosting its technology lineup for seniorsAugust 16, 2018 | dailybusinessnews
San Diego’s GreatCall, which provides mobile phone and connected health services to seniors, is being sold to Best Buy for $ 800 million in cash — the second time that GreatCall has changed ownership in the last 14 months.
The deal furthers the nation’s top electronics retailer’s strategy of selling…
In Japan, seniors and middle-aged adults are increasingly interested in investing in cryptocurrencies. The Japanese Cryptocurrency Support Center has launched an intensive course for seniors to help them learn and invest in cryptocurrencies.
Intensive Crypto Course for Seniors
Japan’s Cryptocurrency Support Center has launched an intensive crypto investment course for middle-aged and elderly adults. This is “Japan’s first virtual currency investment course for seniors,” local media reported last week.
The Tokyo-based center “supports dissemination of the correct information and knowledge of virtual currencies” and of “building assets with virtual currency with confidence,” its website describes. The organization says “we have connections with overseas exchanges and currency issuers” and aims to promote “the sound development of the virtual currency industry.” The center describes:
In the past, investment of stocks and FX was the mainstream. However, since 2017 virtual currencies became a topic in the news, and seniors who start investing [in] virtual currencies are increasing…we hold virtual currency seminars…and some participants in their 80s have participated.
One of the reasons why the elderly are increasingly turning to cryptocurrencies in order to increase their asset holdings is “for the future relief of family and grandchildren to eliminate anxiety about old age,” the center explained.
What Seniors Will Learn
The course is divided into two parts: “Basic operation and maintenance of virtual currency” and “Investment know-how of virtual currency and measures against taxation.”
The former teaches how to open an account at a crypto exchange, how to purchase cryptocurrencies using Japanese yen, and how to store crypto in wallets and cold storage. In addition, students will learn how to send and receive crypto remittances. This part will also touch on security such as two-step authentication and safekeeping and restoration of private keys.
“For beginners who do not know how to buy virtual currency, we will instruct [them] carefully from the beginning, including how to use a personal computer,” the center elaborated, emphasizing that:
Even if you are inexperienced, even if you are not good at personal computers, you can start investing in virtual currency during the course period!
The second part teaches fundamental analysis using Twitter, technical (chart) analysis using Tradingview and Cryptopia. Students will also learn some “promising altcoin watching methods,” how to create diversified investment portfolios, and tax measures or tax saving methods for those with capital gains.
What do you think of crypto courses for seniors? Let us know in the comments section below.
Images courtesy of Shutterstock and the Virtual Currency Support Center.
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The post Japanese Crypto Center Launches Investment Course for Seniors appeared first on Bitcoin News.
As far as senior pranks go, this may win “Most All-Around Appreciated” in the annual superlatives. BuzzFeed reports on some end-of-year scheming by students at Cumberland High School in Wisconsin, with the school district and even local cops applauding the results. The call that came into the Cumberland Police Department…
Bullying doesn’t end as we enter our golden years, apparently. The AP has uncovered incidents of cruelty at senior centers and housing complexes that highlight the surprising ways elderly people bully one another. “There’s the clique system just like everywhere else,” says Betsy Gran, who once ran a senior center…
Two Florida high school seniors were killed and one was severely injured Tuesday night when the Tesla they were riding in crashed into a concrete wall and burst into flames, police said.
Are seniors having sex? The survey says … yes. A new national study of 1,002 adults ages 65 to 80 has found that although frequency of sex declines with age and illness, many are still having sex and most older adults are happy with their sex lives. Investigators at…
Can federal student loan debt follow you into your golden years? It can and it is, per a report released Tuesday. The Department of Education last year garnished $ 171 million from Social Security checks going to Americans ages 50 and up, reports Consumerist . Since most of those affected are aging…
Japan is trying to reduce the number of car accidents involving elderly drivers by offering seniors the only thing they love more than their independence: discounted meals. The Guardian reports that starting this month elderly drivers in Aichi prefecture can hand their driver’s licenses over to police, receive a certificate…
Mark Zuckerberg famously said “young people are just smarter,” but when it comes to internet scams, it seems millennials aren’t so savvy after all. A new survey found that 50% of the victims of tech support scams were 18- to 34-year-olds; by comparison, only 34% of people ages 36 to…