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| July 16, 2019

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Unlikely Archives - Page 2 of 11 -

Killer Escaped From Prison, Got Ride From Unlikely Source

July 19, 2018 |

A newspaper editor picked up a twice-convicted killer who asked for a ride in Mississippi, not realizing he’d just escaped from prison. Michael “Pretty Boy Floyd” Wilson, serving life sentences for the 2014 killings of two men, jumped a fence at the South Mississippi Correctional Institution in Leakesville on July…
Newser

Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely

June 29, 2018 |

Yukio Noguchi, a famous economist in Japan and an advisor to Waseda University’s Business and Finance Research Center argues we can’t expect Bitcoin’s prices to rapidly surge again. In his books and in recent articles, Noguchi makes his case eloquently. He wrote a recent article in Diamond Weekly clarifying his position but has been making his case since January of this year and published a book last December.

Also read: The Daily: Analysts Predict Bitcoin Will Rebound, Enthusiasm for State Coins Lost

“Because It’s Now Possible to Trade on Bitcoin Futures You’ll Never See a Rapid Surge Again”

Noguchi points out that the price of BTC is now almost a third of what it was in December of last year. He believes that because it’s now possible to trade on Bitcoin futures people will never see a rapid surge again.

On one hand, he says that because the price of bitcoin has gone down, the costs of sending bitcoin are now back to a level that makes it cheaper than doing bank transactions and this is welcome.

Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely
Bitcoin won’t surge, Japanese economist says

He argues that the introduction of the futures market has driven down the price considerably. This year in January he persuasively argued that the cause of Bitcoin price collapse was the start of the selling of bitcoin futures. “Bitcoin prices were a bubble, to begin with, and now we’re seeing a return to normal values. The San Francisco Federal Bank, in a report, also suggested that the introduction of Bitcoin futures trading caused a price drop.

Additionally, the market is heading towards a situation in which it will be possible to short-sell bitcoin futures and that will also contribute to keeping the prices down.

Noguchi points to a paper published on May 7 by the Federal Reserve Bank of San Francisco, “How Futures Trading Changed Bitcoin Prices“, authored by Galina Hale, Arvind Krishnamurthy, Marianna Kudlyak, and Patrick Shultz. Here is the key passage:

“From Bitcoin’s inception in 2009 through mid-2017, its price remained under US$ 4,000. In the second half of 2017, it climbed dramatically to nearly US $ 20,000, but descended rapidly starting in mid-December. The peak price coincided with the introduction of bitcoin futures trading on the Chicago Mercantile Exchange. The rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence. Rather, it is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset.”

Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely
Waseda University, Japan

Noguchi insists that actually, the majority of investors are predicting that prices of bitcoin will continue to fall, especially when some are able to make money from short-selling the cryptocurrency.

He also feels that allowing cryptocurrency to branch off, it makes people feel like they can get new cryptocurrency for free and that also drives down price.

Does he see that as resulting in a decline in the popularity of Bitcoin?

Surprisingly, Noguchi believes it’s a good thing. As the price of bitcoin drops, it becomes a more attractive means of sending money. He calculated that at current prices, if you had to use Mitsubishi UFJ Bank to send money, it costs you 432 yen for any amount above 30,000 yen. But with the current value of Bitcoin, it’s cheaper to send via a regular bank transfer than BTC, unless the value of BTC falls to 675,000 yen. When BTC returns to that level, it will finally be trading at what should be a normal value.

On December 20th last year, Noguchi’s book, “An Introduction To Bitcoin And Blockchain” was published and received rave reviews.

What do you think of Prof. Noguchi’s analysis on Bitcoin surge? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely appeared first on Bitcoin News.

Bitcoin News

Google’s retreat from AI contract is unlikely to cool the Pentagon’s love for Silicon Valley

June 14, 2018 |

Silicon Valley’s cutting-edge work increasingly has made it an attractive place for the Pentagon to look for a defensive edge. That’s why military officials recently opened an outpost in Mountain View, Calif., to build relationships with technology start-ups and major players.

The Pentagon’s enthusiasm…


L.A. Times – Business

In ‘Unlikely’ String of Events, Amazon Echo Records, Sends Conversation

May 24, 2018 |

Amazon says an “unlikely” string of events prompted its Echo personal assistant device to record a Portland, Oregon, family’s private conversation and then send the recording to an acquaintance in Seattle, the AP reports. The woman told KIRO-TV that two weeks ago an employee of her husband contacted them to…
Newser

TMZ

Usain Bolt Says ‘Door Is Open’ for Olympic Return, But Unlikely

April 27, 2018 |

So you’re saying there’s a chance!!! Usain Bolt tells TMZ Sports … the “door is open” to unretire and compete in the 2020 Olympics — but right now he doesn’t have the urge.  “I don’t think so,” Bolt said when asked about a return to the…

TMZ.com

TMZ

Harvey Weinstein, Rape Charges in Paz de la Huerta Case Highly Unlikely

December 11, 2017 |

Harvey Weinstein is under investigation for allegedly raping Paz de la Huerta on 2 occasions, but law enforcement sources tell TMZ a prosecution is highly unlikely. De la Huerta says in November 2010, Weinstein went to her apartment, pushed her on…

TMZ.com

Purple Spots Marring Vatican Scroll Have Unlikely Source

September 8, 2017 |

Call it the attack of the purple pigment. Live Science reports purple splotches are damaging old animal-skin parchments around the world. Take, for example, a 16-foot-long scroll inside the Vatican Secret Archives. The parchment was written by Italian villagers in 1244 asking the Church to make Laurentius Loricatus a saint….
Newser

TMZ

Dana White: ‘Highly Unlikely’ Jon Jones Steroid Test Is Wrong

August 24, 2017 |

Dana White says he REALLY hopes Jon Jones’ positive drug test is a mistake and he’ll be exonerated by the B sample … but he says that’s “highly unlikely.”  White appeared on the “TMZ Sports” TV show (airs weeknights on FS1) and said he still…

TMZ.com

Rare Butterfly Has Found Home in Unlikely Place

July 2, 2017 |

In the shadow of giant war machines, a tiny, rare butterfly is flourishing. Oddly, experts say, the US military gets the credit. The frosted elfin, which flutters along on a 1-inch wingspan, has found a home at several defense installations because of the way the military manages open spaces, says…
Newser

It’s ‘unlikely’ the U.S. economy’s growth will meet Trump’s goal, International Monetary Fund says

June 28, 2017 |

The International Monetary Fund has trimmed its outlook for the U.S. economy, citing the number of uncertainties that surround President Trump’s plans to boost economic growth.

The IMF forecasts that the U.S. economy will grow this year at an annual rate of 2.1%. That would be an improvement over…


L.A. Times – Business