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Russia’s Biggest and Oldest Bank Will Spend More Than $100 Million to Buy 5,000 Blockchain-Enabled ATMs Capable of Mining Cryptocurrency

By
Adam Barry
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0

Cryptocurrency mining has been one of the latest internet crazes, and Russia has some of the largest and specialized ”farms” for mining them. Each month, the farms earn millions of dollars to their owners. Banks in Russia have been very active in discussing the operations and the future of cryptocurrencies. Government bodies and market players have also enjoined the discussions. Their primary role is to reach a consensus on whether or not the circulation of cryptocurrencies presents any unwarranted risk.

As far as all this unfolds, Sberbank, Russia’s largest and oldest bank, is concerned about the mining of cryptocurrencies. The financial institution has announced a tender that will provide 4,917 ATMs. These will be the world’s first blockchain ATMs, and their standards include a built-in graphic card that can run blockchain operations.

Could Sberbank Be Issuing Its Cryptocurrency?

Russia’s central bank has been a front runner in support of digital innovation, having launched infrastructure projects, including a blockchain platform. Hence whether or not Sberbank issuing its Cryptocurrency remains an area of interest given that the government is one of its largest shareholders. Besides, Herman Gref Russia’s former minister of Economics and Trade and the bank’s current CEO is a big advocate of blockchain.

The bank has quoted $108,501,718.05 as the maximum bid for the tender. While it’s very common to have regular bank ATMs with blockchain technology, there are several hesitations and uncertainties concerning the use of optimized graphics cards.

Even the experts seem to have no clue how the cards would be used, as expressed by the co-founder of the Ergo blockchain platform. Alexander Chepurnoy said, “Besides mining, perhaps it could be used for processing of some cryptographic algorithms, but I have no idea why an ATM would need it.”

Meanwhile, Sberbank and Huawei have partnered in support of the digital economy. The two will be providing cloud services for Russian businesses: partnership targets, large, small, and medium-sized enterprises as well as startups. The partnership with one of the largest technology giant is a clear indicator of the Sberbank’s obligation to its digital goals.

Monero Mining Malware Infects More Than 1000 Corporate Systems

By
Adam Barry
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0

The technology industry is one of the many that is experiencing rapid growth. Every day, there is a demand either for an upgraded application or system. The researchers, as well as security companies, are at work to address these demands and activities by cybercriminals, which have also become rampant.

On May 26, Red Canary Cloud Security Company reported a global spread of new crypto-jacking malware. According to the company’s report the Monero mining, which was discovered in December 2019, has infected over 1,000 corporate computer systems to date.

Servers Running ASP.NET Applications Are More Vulnerable 

Hackers and cybercriminals will install all sorts of cryptojacking hardware to the computing systems of unsuspecting users’. With these, they can easily mine cryptocurrencies. They will also install the XMRRig application, which gives them an added advantage of accessing the resources of the infected machines.

Servers operating on ASP.NET applications have a higher risk of malware attacks. According to Red Canary, it is hard to compute the total number of infections, which took place within a very short time. The company did add that the criminals explored the weakness of the Remote Desktop Protocol in Windows to penetrate systems. Nonetheless, a majority of the already infected machines are seemingly from large corporates.

Red Canary Cautions the Firms, Which Are Not Yet Infected

There has been a ransom rise in the illegal mining of cryptocurrencies, thanks to the XMRRig app. This is the reason why Red Canary has sent a word of caution to the firms, which have not been infected by the Monero mining malware.

Speaking of the current vulnerabilities of systems threat analyst at malware lab Emsisoft, Brett Callow said, “Cybercriminals specifically look for errors and weaknesses and take advantage of them when they find them. Companies can significantly reduce their risk factor by following best practices’’.

Meanwhile, another cybersecurity company has unearthed another type of malware known as Smominru. The mining malware steals user data as well as the mining operations. There is speculation that the hackers sell the stolen data on the dark web.

Tiny Cryptocurrency Showcases Outstanding Performance As Bitcoin Remains On The Low

By
Adam Barry
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0

The poor performance of bitcoin experienced this week has had the bitcoin and cryptocurrency enthusiasts watching with bated breath. They are quite nervous as they continue looking forward to seeing how matters play out in line with the performance of bitcoin. However, an industry shocker is pointing to a massive rise of one little –known cryptocurrency.

Bitcoin has remained the most outstanding drive of the cryptocurrency market for many years, impacting prices significantly. Matters don’t seem to be progressing well, considering that bitcoin has lately been trading sideways. There are reports that it rallied quite hard in April.

The cryptocurrency has surprised everyone by rising quite fast to take up one of the top 30 slots is said to have climbed up by almost 230% in a month. It is the OmiseGO, which happens to be an ethereum token powering the smart contract platform, and it has been trading as OMG.

Coinbase, which happens to be a bitcoin and cryptocurrency exchange based San Francisco, announced the plan to list the token. Market experts have pointed to the pronouncement by Coinbase as being the major cause for the sharp spike in the token.

The director of research at bitcoin, known as Larry Cermak, has spoken about the latest turn in events. He described the performance of the token as the resurgence of the Coinbase listing pump.

The smart contract platform of OmiseGO is in Bangkok, and the main reason for its development was to cater to the transfer of funds between the decentralized blockchains and most of the traditional payment systems. Ethereum happens to be one of the many good examples of the decentralized blockchains.

At the start of this month, market experts discerned the rise in the omiseGO price shortly after Coinbase pronounced the plan about the payments transfers. It was an announcement pointing to a new wave that would make it possible for the Coinbase Pro users to execute the inbound OmiseGo transfers. OmiseGO is at the moment associated with a market value of about $257 million.

Italian Porn Site, PornVisory Introduces Crypto Rewards For Porn Viewers

By
Adam Barry
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0

Italian cryptocurrency project, PornVisory, is planning to introduce crypto rewards in the form of PVY tokens that will be given to users for viewing content on the platform.

PornVisory to pay viewers to watch porn

Veronica Noschese, the founder of PornVision, told Cointelegraph that there is significant synergy between the pornography and cryptocurrency industries. As a result, there is a need of having an anonymous financial system for porn viewers.

Noschese indicated that in 2019 when PayPal banned Pornhub from using its payment system, the pornography giant decided to begin supporting Verge (XVG) cryptocurrency. Pornhub has made progress in its financial system, and as of January, the site had begun accepting Tether (USDT) as a form of payment.

She added that there are several issues in the pornography industry regarding reputation and privacy. For instance, Pornhub was blocked from using Paypal, and for content viewers, they might not wish to use their premium accounts in watching porn using the same bank account that they share with their spouse.

PVY tokens inspired by Brave’s BAT

PornVisory made the move to reward viewers, and it is a decision inspired by Brave Browser’s Basic Attention Token (BAT). The privacy-focused browser awards users with BAT for viewing ads. Following this model, Noschese indicates that viewers of content on the PornVisory platform will receive PVY tokens for viewing.

Through the inspiration of the Brave browser, the site chose to replicate the model but with something associated with the pornography industry. Noschese added that this is a simple concept where viewers will be compensated for watching porn videos as well as when interacting with the platform.

The founder indicated that there are no plans for PornVisory to carry an initial coin offering. However, they are planning to airdrop the tokens as a way of marketing. For now, the site is an adult content news outlet, but they are planning to include a porn video site as well as a live streaming platform. Noschese is financing the plans through her funs, but she is planning to seek additional investment after the platform has grown.

The Launch Of The Chinese e-Yuan Has Drawn Investor Interest From All Over The World

By
Adam Barry
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0

China has been developing its own cryptocurrency led by the people’s Bank of China since 2018, and the release of the digital Yuan has created a lot of attention. President Xi Jinping indicated that the digital Yuan will be vital in advancing technological innovations as well as industrial transformation.

e-Yuan to help solve the debt problem in China

The country released the e-Yuan in last month, and since then, the digital currency has attracted significant interest from investors across the globe touting it to hit heights as those of bitcoin. Following the release, Chinese stocks saw a surge of foreign investments that reached more than $26.99 billion. However, it is not clear the extent to which the country will incorporate the e-Yuan in the financial system.

It is expected that the e-Yuan will offer a solution to China’s debt problem. Currently, recognized debt in China stands around $341 billion, which is due to the problem of people obtaining several loans using the same collateral.  Blockchain Researcher J Rothers indicates that the smart contracts offered by the e-Yuan will enable the government to keep track of assets and liabilities. This will help in ensuring people don’t take several loans through the same collateral.

Authorized banks and brokers to sell e-Yuan

With the e-Yuan, the state will control currency circulation by allowing authorized banks and brokers to sell the crypto at first. There is no information on whether physical assets will back the digital assets. Recently the country acquired huge amounts of gold for backing the Yuan. It is expected that if the value of the digital Yuan drops, the Chinese government will back it with physical assets to even out prices in favor of investors.

Already some US franchises such as McDonald’s and Starbucks have reportedly started taking part in the trial of the e-Yuan after a successful pilot last month. SmartCard Marketing Systems Inc. has indicated that there is potential on the Chinese digital Yuan, and the launch will expand the company’s influence globally.

Articlesofados Launches American Descendants of Slavery podcast

By
Adam Barry
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0

Articlesofados.com is inviting visitors to explore their website and proudly announces the launch of its new podcast called The Articles of ADOS. Both focus on the social movement referred to as ADOS, or the American Descendants of Slavery. The podcast is set to bring undiscussed news, articles, and information important to the ADOS movement.

ADOS is a socio-political movement whose purpose is to advocate for reparations — compensating those who have been wronged — on behalf of their ancestors. The group argues that reparations for American slavery are economically and morally justified. And have demonstrated how slavery, segregation, red lining, and economic depression in the ADOS community affects descendants of slavery to this day—where the average white family has roughly ten times the amount of wealth as the average black American. The Articles of ADOS podcast seeks to discuss and inform listeners weekly how these disparities affect their daily lives.

Video link: https://youtu.be/rFOyimC1LD8

The new podcast, Hosted by Lisa Todd, and Co-host Daud GeAzan, will feature news and information that ADOS may have missed. Segments include Voices of ADOS, The Rapid News Reports, and The Main Event—where they interview articles and pull out key information or lack thereof.

“The idea that I could take my love of podcasts and my love of storytelling and combine them to create a brand-new way to connect with listeners was an option I couldn’t walk away from,” said Daud GeAzan, co-host of Articles of ADOS podcast. “This kind of in-depth commentary is something that’s rarely – if ever – been done in this way, so I’m looking forward to opening the door to this new type of medium.”

Never miss a show, subscribe to the Articles of ADOS Podcast Today. Listeners to the Articles of ADOS podcast will stay informed with the latest news and information and how it affects their everyday lives. “We welcome all ADOS, allies and friends to listen to the show, as we want everyone to get an understanding of what we’re fighting for” says host Lisa Todd. 

The Articles of ADOS podcast is available now on Apple Podcast, Google Play Music, Stitcher, Spotify, and SoundCloud. Also keep up with them on Facebook, YouTube, and Twitter, for continued discussion and conversation on all the news that is being shared. Don’t let news pass you by, join the Articles of ADOS every Thursday and Sunday for great content and conversation.

AAL Stock – American Airline’s rally could grow strong and here’s why

By
Adam Barry
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0

Another amazing day for American Airlines Group (AAL) thanks to Mr. Trumps support for the airline industry and stimulus package. AAL operates American Airlines and U.S. Airways. The company has nearly 1,000 aircraft and serves destinations in more than 50 countries. It is also one of the world’s largest cargo transporters.

AAL, along with the entire airline sector, has been crushed in recent weeks. Last week, the stock fell to an all-time low. Volume during the decline was extremely high, a sign of capitulation. The rebound in recent days off the intraday lows has occurred on very heavy trading volume, a bullish sign.

Because of the very steep slope, there is little overhead supply above current prices. The first piece of potential resistance is the 21-day exponential moving average near the $21 area. This is an extremely high-risk/high-reward technical play. Chart support from the recent trading low is at $14.50 and we would put a stop-loss just below there. We would take profits in the $21 zone.

Carvana (NYSE:CVNA) is one stock that could parabolic

By
Adam Barry
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0

Volatility remains and probably will for a few months. Biotech stocks related to the virus are up big again this morning but other than momentum day trades or risky gaps, I’m on the sidelines with those as they are quite extended and trickier and trickier to predict as we get further into this situation.

One chart that particualrly looks interesting it Carvana (CVNA). This stock isn’t connected to any major indexes or ETFs and has a lot of short interest, so it should trade more independently from the rest of the market.

Here’s what I’m seeing on the hourly chart.

CVNA Hourly Chart

The last few days the stock has hung around this strong support level it built almost going back to August. Additionally, we’re about to see a moving average crossover, along with a really strong finish yesterday.

I like this trade for a few reasons. First, there’s a clear stop out area below the lows of this current consolidation. That puts me really close to risk. The upside for a run is huge.

Second, it looks like momentum is shifting to the upside. While this stock may not always trade with the broader market, it still can rally when things get moving.

Right now, the implied volatility index on this stock (IV Index) is just under 50. That’s pretty high but not nearly as bad as it was just last week. I’d be fine with either playing long calls or selling a put credit spread underneath the current consolidation range.

If I could get the best timing possible, I’d want to see the market pullback some, while having this stock hang around this area or pullback just into the moving averages. That would create a super setup.

S&P 500 (VIX) calls for another bearish day

By
Adam Barry
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0

Markets bounced back after a horrible selloff yesterday on the back of the Fed announcement. It’s kind of a weird spot as there isn’t a lot of trading to do intraday. Things opened higher and are trading in a relatively tight range.

I’m watching to see if the VIX starts to crack anytime soon. We do have a bearish crossover on the hourly chart. But that low it made the other day after the Fed announcement gives me pause.

VIX Hourly Chart

The high from the other day in the SPY was $313.84. I’ll use that as my resistance area for the time being. More than likely, we’ll trade in a range from around $295-$310 for quite a while as we try to figure out the impact of both the elections and this pandemic.

Also, keep an eye on the VVIX. The low from the other day was $108.59. If we start closing hourly and then daily below that level, we should get a brief rally as it heads towards $105.

Future turn red pre-market for another blood bath

By
Adam Barry
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0

Futures are down again this morning. The SPY is currently sitting at 291.01 in the premarket which is at the bottom of the Bollinger band. We are looking at a potential 7 full points gap down.  In the premarket charts at the moment we see that the 10 moving average line is below the 20 moving average line on the 5 but above it on the 10 and the 15 minute charts. We also continue to see high volume this morning.

Our momentum indicators are mixed at the moment and there is volume coming in. Because the VIX is on the rise this morning and now into the 40s the fear in the market is growing and with the current trend, I am going with PUTS again. I’ll watch closely at the open and the alert may come quick. If the SPY moves up at the open I would wait for a reversal off a resistance line of 293.50 or 297.50. A few other ways to play a reversal for puts is off the top of the Bollinger band on the 10 minute chart or if you see the ticks start rolling over.  I’ll also look for the vix moving back up or I’ll look for selling volume to confirm my decision. Both of those happened yesterday.


So In order for this trading plan to be in play SPY must remain trading below $300. If I see this it would trigger a buy to open followed by sell to close PUT option move today. If I see a move with enough conviction, I will text you that the trade plan has been triggered followed by an email before 1030 am. 

Two important things to continually keep in mind. Volatility will make the price options expensive and may whip the price around to places that may be beyond your risk tolerance. You have to trade what is right for you. As a reminder, I encourage you, if you do jump in, manage your stop loss according to your tolerance.

Resistance:  291.10, 291.60, 292.65

Support: 290.12, 289.41, 288.80


Today’s Trade of The Day is SPY March 4 280 PUTS

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