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| September 25, 2018

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Tilray’s shares surge as the hype around pot stocks catches up to the crypto craze

September 19, 2018 |

A massive surge this week in marijuana stock Tilray Inc. has investors comparing cannabis shares to the cryptocurrency rage of last year. And it has delivered a multibillion-dollar windfall for a little-known private equity fund backed by tech investor Peter Thiel.

Tilray, a Canadian medicinal…


L.A. Times – Business

Lara Trump shares photos of devastating Florence flooding in North Carolina

September 19, 2018 |

Lara Trump shared photos of the devastating flooding caused by Hurricane Florence at her grandmother’s house and her childhood church in North Carolina, urging her social media followers to keep the storm’s victims in their thoughts.
FOX News

After Kaepernick Ad, Nike Shares Hit a High

September 14, 2018 |

Despite the backlash (including people destroying gear and calling for a boycott) to its Colin Kaepernick ad campaign, Nike appears to be doing OK. Case in point: Nike shares reached an all-time high of $ 83.49 on Friday, CBS reports. Far from hurting sales, the ad campaign seems to be…
Newser

Stocks climb as inflation slows; tech shares rebound

September 13, 2018 |

U.S. stocks were climbing Thursday after the Labor Department said inflation slowed a bit in August. Technology companies such as Apple and Microsoft made some of the largest gains after a recent bout of uncertainty, and chip maker Qualcomm jumped after it announced it was proceeding with a big…


L.A. Times – Business

Tesla Shares Slide After More Executives Leave, Musk Interview

September 8, 2018 |

Tesla’s share price approached its 2018 low after the electric-car maker lost more executives and Chief Executive Elon Musk was seen appearing to smoke marijuana during an interview.
WSJ.com: What’s News Asia

Tesla Shares Slide After More Executives Leave, Musk Interview

September 7, 2018 |

Tesla’s share price approached its 2018 low after the electric-car maker lost more executives and Chief Executive Elon Musk was seen appearing to smoke marijuana during an interview.
WSJ.com: US Business

Square’s Big Week: Crypto Patent, Shares Leap and Lightning Plug

August 30, 2018 |

Square's Big Week: Crypto Patent, Shares Rise 6%, & Lightning Plug

Smartphone app payments company Square has had a pretty big week. It was revealed the company is further dipping its toes in the cryptosphere through a granted payments patent, and it’s causing quite a stir. Wall Street analysts have deemed the company a golden goose, thereby helping its stock price jump by 6%, and it’s finally getting an Apple-ready Lightning plug to ease users’ and merchants’ worries about design changes.

Also read: Venezuela Loves Dash: Altcoin Surges 30% on Adoption Push

Square Granted Patent for Crypto Payment Network

Merchants using the Square digital payments platform will soon be allowed to accept virtually any cryptocurrency, if the patent granted to the publicly traded company is to be believed. Ecosystem news outlet CCN appears first to have uploaded the 30-page approval document from the US Patent & Trademark Office. The company’s application was submitted Fall of last year, and the approval is dated from a few days ago.   

Converting from fiat currencies into crypto is something that has been done for years within the ecosystem by platforms such as Bitpay. The difference with Square is that it hits the crypto world already well established among millions of merchants. One of the most difficult aspects of spreading adoption among businesses is convincing them to also come along on other aspects of the infrastructure, from wallets to specialized point of sale systems. Square skips all of that, and thus its power.

Square's Big Week: Crypto Patent, Shares Rise 6%, & Lightning Plug

One immediate worry for any mainstream payments company dabbling in crypto is a possible slowdown in confirmations, as in the case of bitcoin core (BTC) during late 2017, impacting transaction times. According to the patent, Square has its own private blockchain, which could theoretically allow the company to monitor balances before final wiring/broadcasting. Double-spending is still possible, though difficult, but Square has smartly taken that burden off merchants and placed it on its own shoulders.

“The disclosed technology addresses the need in the art for a payment service capable of accepting a greater diversity of currencies,” the patent reads, “including virtual currencies including cryptocurrencies (bitcoin, ether, etc.)…than a traditional payment system in a transaction between a customer and a merchant, and specifically for a payment service to solve or ameliorate problems germane to transactions with such currencies. Specifically, the payment service described herein can facilitate real-time (or substantially real-time) transactions, allowing a customer to pay in any currency of their choice, while the merchant can receive payment in a currency of their choice.”

Square Lauded, Jumps 6%

The most highly touted crypto patent by a publicly traded company has been Bank of America (BA) adding to its collection. To anyone’s knowledge, BA has yet to act on any of them. Some have suggested they were only used as ways to market the legacy bank more than anything else. Square might be different here, again, though it doesn’t have to be. Its CEO has more or less predicted bitcoin core (BTC) will be a world standard currency within the decade.

Whatever the actual case, it has been a good week, news-wise, for Square. On top of making the ecosystem buzz with a crypto payments patent, its shares rose by 6% after Guggenheim showered it with praise as a “best idea” within the financial technology space. It went further, suggesting Square is its “highest conviction name” in the sector, and raised its price call from $ 75 to $ 100.

Square's Big Week: Crypto Patent, Shares Rise 6%, & Lightning Plug

In 2018 alone, the company’s stock price has boomed by more than 130%, and Guggenheim’s Jeff Cantwell noted, “We expect a strong rate of revenue growth for SQ which should drive further share price appreciation.” Much of that optimism is based around the company’s application, Cash App.

It eerily apes what original cryptos like BTC were meant to do: borderless money transfers, be a staple of micro finance, and even act as way to get at the unbanked. Mr. Cantwell continued, “We think Cash App’s future revenue potential is underappreciated, we see it providing a key ‘services’ role for the underbanked.” In this year’s second quarter, Cash App users spent a quarter of a billion dollars with its linked debit card, Cash Card.

Lightning

If patents and stock prices booming were not enough, the iconic smartphone reader and payments platform has also finally received a Lightning plug to make up for Apple’s ditching of a listenable headphone jack.

For Apple it was a matter of phone aesthetics and space. For Square users and merchants, it was a matter of financial life and death. Without the square reading block, usually white, the entire project goes out the window.

Square's Big Week: Crypto Patent, Shares Rise 6%, & Lightning Plug
Left is the old, clunky setup. Right, Lightning.

Ultimately its users found workarounds and adapted. It was a stroke of genius to initially re-purpose the headphones’ auxiliary, but it also left them, at least momentarily, exposed should a design change happen. Square would give in and sell a clunky adapter, but that obviously lessened some of the get-it-and-go cache the product was built upon.   

Returning to their initial business model, Square announced recently it will now offer an answer to Apple’s Lightning opening – that slim, rectangular entrance every Apple user is familiar when charging their phone. The plug will make the device compatible from 2012 products to the present day. The company can stay small, agile, and refrain from forcing its users into adapters. 

Is Square becoming an important part of crypto? Let us know in the comments below. 


Images via Pixabay.


We’re celebrating Bitcoin Journalist Pioneer Jamie Redman’s work. Check out Jamie Redman’s author archives. It’s an encyclopedia, a living history of crypto. 

The post Square’s Big Week: Crypto Patent, Shares Leap and Lightning Plug appeared first on Bitcoin News.

Bitcoin News

TMZ

Cardi B Shares Racy Lingerie Pic in Pink Wig on Private Jet

August 25, 2018 |

We already knew Cardi B’s post-baby bod was on point, but DAMN … this is a whole other level. Cardi shared a sultry shot of herself on a private jet Saturday, wearing nothing but black lingerie and rocking some long pink hair with the caption ……

TMZ.com

Mining Round-Up: Nvidia Shares Drop, College Students Mine on Campus

August 17, 2018 |

Mining Round-Up: Nvidia Shares Drop, College Students Mine on Campus

In recent news pertaining to cryptocurrency mining, Nvidia has witnessed a drop in its share price after announcing an unexpectedly modest earnings outlook – partly driven by reduced demand for mining hardware. Also, the World Digital Mining Summit has been scheduled for late September in Tbilisi, Georgia, and reports continue to surface detailing opportunistic students using college electricity to mine crypto.

Also Read: Chinese Courts Face Hundreds of Crypto Cases, Struggle with Rulings

Nvidia Shares Drop After Reduced Crypto Sales Fuel Declining Profits in Q2

The price of Nvidia stock fell by 6 percent on Thursday following the announcement of lower-than-expected revenue guidance. Despite the bearish response, the company reported better-than-expected earnings. As of this writing, Nvidia’s shares are valued at $ 247.25 USD each.

Nvidia announced revenue projections of $ 3.25 billion for Q3 of 2019 – roughly 2.7% less than analyst estimates of 3.34 billion for the third quarter, according to Thomson Reuters.

Nvidia posted earnings of $ 1.76 per share, excluding certain items, up from earnings of $ 1.66 per share that was anticipated by analysts, and revenue of $ 3.12 billion – up from an expected revenue of $ 3.10 billion. Nvidia’s revenue grew by 40 percent year-over-year for Q2 2018.

Whilst the company’s data center and automotive segments exceeded revenue prediction, the company’s revenues associated with products and intellectual property pertaining to cryptocurrency mining ($ 116 million) were 70 percent lower than those anticipated ($ 188 million).

Colette Kress, the executive vice president and chief financial officer of Nvidia, stated: “Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $ 100 million while actual crypto-specific product revenue was $ 18 million, and we now expect a negligible contribution going forward.”

The company’s chief executive officer, Jensen Huang, stated: “We benefited in the last several quarters from an unusual lift from crypto, but at this time, we consider it to be immaterial for the second half” of the financial year.

Mining Summit in Georgia Set to Take Place Next Month

The 2018 World Digital Mining Summit will take place in Tbilisi, Georgia next month.

The conference, which will be held from the 21st until the 23rd of September, will feature “30+ speakers, 50+ mining companies, and 1000+ attendees.” The CEO of Bitmain, Jihan Wu, and the CEO of Bitkan, Yu Fang, will be among the conference attendees.

Opportunistic Students Mine Crypto Using College Power

Patrick Cines, a graduate of Penn State College in 2017, has recounted his story of mining cryptocurrency using campus electricity.

“I had basically a box, maybe a foot and a half by a foot and a half tall. It was sitting in, right at the foot of my bed. Had several graphics cards,” said Cines. “It felt like passive income because when you’re at school, when you’re taking an exam or you’re doing your homework, you’re prepping or going to student meetings, it’s still back in your dorm room making money for you.”

Initially, Mr. Cines describes the heat produced by his mining rigs as being “unbearable,” adding “ I had fans running, I had the window open. The first day I was living there, [I] went to Home Depot, bought some dryer tubes, strapped them to the front, and used that to push all the hot air outside of my room.”

Are you surprised by the drop in Nvidia’s share price? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Mining Round-Up: Nvidia Shares Drop, College Students Mine on Campus appeared first on Bitcoin News.

Bitcoin News

Bayer Shares Plunge After Monsanto Weed Killer Ruling

August 13, 2018 |

Shares in Bayer dropped 10% after recently acquired Monsanto was ordered to pay $ 289.2 million in a landmark lawsuit over whether exposure to two of its weed killers caused cancer.
WSJ.com: US Business