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The Pandemic Was Just the Catalyst

Harry Dent predicted 2020’s economic upheaval several years in advance. The coronavirus pandemic was just a trigger to a long-term reckoning over public debt, he says.

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In his 2017 book, “Zero Hour: Turn the Greatest Political and Financial Upheaval in Modern History to Your Advantage,” Harry Dent forecast a catastrophic economic crash would hit us no later than early-2020. 

Dent saw the developed world arriving at the pointy-end of a long and unsustainable period of technological progress and growth, which was destined to implode in the greatest bubble burst of modern history. In a feeble attempt to thwart the resulting downturn, and in an expression of gross monetary manipulation central banks would respond by printing more money. 

This post is part of CoinDesk’s 2020 Year in Review – a collection of op-eds, essays and interviews about the year in crypto and beyond. Leah Callon-Butler, a CoinDesk columnist, is the director of Emfarsis, a consulting firm focused on the role of technology in advancing economic development in Asia.

Then, amid rising geopolitical tensions and regional trade wars, domestic melting pots would finally boil over as citizens from incongruous cultures, religions and income groups railed against the establishment in a backlash against intensifying globalisation. In 2017, he pointed to Donald Trump’s election as U.S. president, Brexit and Black Lives Matter, and predicted “the greatest revolution and financial crisis since the late 1700s.”

Harry who?

Harry Dent, who is 67, has built a career on such bold predictions. His books have titles like “The Great Crash Ahead” (2011), “The Great Depression Ahead” (2009) and “The Next Great Bubble Boom” (2006). The son of a political strategist, Dent created an investment and newsletter empire in Tampa. But recently he has decamped to Puerto Rico, where he mixes with several members of the island’s crypto community. 

“At least it’s dealing with its crisis rather than printing money to cover the problems,” wrote Harry about his decision to set roots in Puerto Rico.

The debt-ridden Caribbean island is known for its favorable tax incentives. Around 2018 it began to attract some high-profile blockchain entrepreneurs and investors who set their sights on building the local scene. Harry’s rhetoric was in alignment with the core philosophies of Puerto Rico’s burgeoning crypto community and his new neighbor, investor and PR man Michael Terpin, invited him to deliver a keynote on the future of money at his investing conference, CoinAgenda Caribbean

Harry concludes our chat with a warning: You better start listening to me, not those egghead economists and central bankers.

That’s where I met Harry and where he gifted me a signed copy of his new book, “Zero Hour.” Had I read it back then, in May 2018, I might have dismissed most of his bizarre predictions as hyperbole. But I didn’t get around to it until March 2020, after the coronavirus lockdown had kicked in and suddenly I had all this free time on my hands. Reading it as the global crisis was unfolding and the economic outlook turned bleak it felt like Harry was commentating world events in real time. 

“Zero Hour” mentions nothing of a pandemic, but speaking with me via Zoom in December 2020, Harry said COVID-19 was simply the trigger for a series of calamitous events that had been timetabled for decades. To arrive at these conclusions, Harry and co-author Andrew Pancholi identified a range of demographic and geopolitical cycles all due to collide in 2020. They explain that it is rare to get so many cycles converging at once, with the most comparable event in history being the period known as “The Great Depression.”

In Harry’s view, recessions, depressions, booms and busts are completely normal and necessary for efficiency, but the natural process has been interfered with. “Central banks have hijacked democracy and killed free market capitalism by taking over the economy and driving it from the top down,” he said, pointing out that governments worldwide had responded to the financial crash of 2020 exactly as he predicted, with quantitative easing and excessive stimulus. 

Of course, that only helped to add value to bitcoin’s ideology – and price – throughout the year. 

Shoot the messenger

Harry will never call himself an economist and it’s true that his unconventional approach has attracted many critics. An opponent of note is the economic researcher and wealth adviser Larry Swedroe, who has made it his mission to hold Harry accountable to his predictions – which he claims have been more often wrong than they are right. 

Via a LinkedIn DM, Larry described Harry’s harbingers as “investment porn that is designed to titillate, stimulate and excite you into action, but has no basis in reality.” He compared Harry’s success as a forecaster to a blind squirrel that occasionally finds an acorn. Larry said he’d “written many pieces exposing [Harry’s] garbage” and shared a few links as evidence, one going back as far as 2013

See also: Leah Callon-Butler – What DeFi Can Learn from ‘InFi’

But Harry isn’t fazed. He says this is just how disruptors are met. “That’s the way I’m greeted by economists: ‘Shut up, we don’t want to listen to this, you’re a cuckoo,’” he said, outlining the plight of anyone who dares to position their opinions on the wrong side of popular. “It’s the same as innovators. We are greeted with bullets and A-bombs and told to get out of here.” 

That might also explain why Harry isn’t getting invited to speak at the crypto conferences anymore, since he’s now saying stuff like: There’s no bigger bubble than bitcoin, it’s the bubble of bubbles. Refusing to concede the current bull run represents mass-scale adoption and true institutional acceptance, Harry thinks he’ll still be feeling bearish until some point in 2022, when bitcoin should experience a 90% correction, by his clock. 

Some of his neighbors would like to insist they’ve seen the worst of the crypto winter already, but Harry sees an even bigger shakeout on the way up to the next big thing. He says it’s a perfect example of an S-shaped adoption curve at very early stages, with the technology still at 1% but growing exponentially. He likens blockchain to the World Wide Web on a 20-year lag, recalling the time “the internet ran past the Nasdaq like a race car.” 

Harry concludes our chat with a warning: You better start listening to me, not those egghead economists and central bankers.

Disclosure

Source: https://www.coindesk.com/pandemic-just-catalyst

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Profiting from Crypto: Here’s a tool that’s actually useful

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Introduction to Profit Farmers

It’s no hidden secret that Bitcoin has been on a record-breaking bull-run ever since PayPal announced they’d offer their users the ability to use Bitcoin and other altcoins for transactions.

This has led to numerous altcoins rising in value too, riding in the slipstream of Bitcoin’s big rush.

With all these crazy gains being reported, many of us are left wondering;

“How can I best capitalize on crypto’s opportunities without rushing in and making mistakes?”

Well, that’s precisely the question I’ll attempt to answer today.

There’s a crypto trading tool called ProfitFarmers that claims it can help you make more profitable trades without all the stress, staring into charts, and the years of experience otherwise needed.

Their website boasts no commissions or fees on your trades, complete honesty on how their tool functions and a 100% money-back guarantee in the event their tool doesn’t offer you profitable opportunities.

In light of that, you’d be wise to set aside the next 5 short minutes to look into ProfitFarmers with me!

What is ProfitFarmers? 

Put simply, ProfitFarmers is a subscription-based service that produces trading signals, which are complete instructions for trading a given coin pairing from entry to exit.

ProfitFarmers is integrated with Binance through an API, so all your trades and profits actualize within your own account on Binance. This also makes it possible for PF to place trade orders on your behalf, saving you time, hassle and preventing accidental errors!

PF’s integration with Binance means you only need to click on a signal from their dashboard, enter how much you wish to trade with, and let ProfitFarmers’ software handle the rest!

ProfitFarmers will perform your trade from entry to exit based on the information programmed within the trading signal.

This also includes a stop-loss function where ProfitFarmers will place an order to sell your coins if the price takes a turn in the wrong direction. Perfect for anyone looking to make their risk management less of a headache to keep ‘on good terms’ with!

With absolutely no commissions or fees on your trades, ProfitFarmers is one of the few platforms where you can make trades knowing 100% of the profits you make are 100% yours to keep.

Better yet, thanks to their 100% money-back guarantee, you can join ProfitFarmers with the assurance that you WILL be presented with a fair amount of trading signals that offer a profitable opportunity each month.

Tools for more experienced traders: 

Besides from the main features described above, ProfitFarmers entails a host of tools designed for the more experienced and active traders to make use of. These tools are the Price Action Scanner, RSI Scanner, and a manual trading terminal linked directly to the Binance Exchange.

Maximize your profitability with the manual trading terminal by using some basic chart analysis to achieve close-to-perfect entry and exit points on your trades!

Results 

On a bi-weekly and monthly basis, Matthew Tansley (ProfitFarmers founder) creates a video breaking down their trading signal’s performance for everyone to digest.

These breakdowns are particularly beneficial for members, as the videos give valuable insights on what signals, strategies, and coin pairings are trending with the highest profitable performance.

For 6 months their Signal win rate has NOT been below 70%! That’s really impressive…

ProfitFarmers’ signal results & performance breakdowns dating months back are publicly accessible for everyone to go through on their website.

For the month of November, ProfitFarmers produced 256 trading signals, of which 81% hit target 1 (of 4 targets, where the higher the target hit, the higher the % peak gains offered).

Perhaps even more enticing is the fact that 61% of November’s signals hit targets 2,3 or 4, offering even higher money-making opportunities.

Here is the “Average Profit % Per Target” breakdown for the month of November: 

Read more about ProfitFarmers results on their website here

Conclusion: 

Would you like to instantly increase your chances of making more profitable trades today?

If you don’t want to spend years learning and hours stressing & staring into price charts all day, then I’d say ProfitFarmers is your best bet moving forward.

This platform offers tech-savvy answers to some of the biggest questions and pain-points involved with trading crypto. Save yourself the time and hassle by utilizing a tool that has been proven to do a majority of the ‘heavy lifting’ in trading for you.

With trade signals boasting a 78% all-time historical win rate and ProfitFarmers 100% money-back guarantee if that number ever falls below 60%, you can try ProfitFarmers with more peace of mind than any other tool I’ve seen on the market.

To start using ProfitFarmers or learn more about what they do, visit their website here!

Let me know about your experience with ProfitFarmers in the comments below.

Source:

Platodata

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How Top U.S universities are privately increasing their Bitcoin holdings

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How Top U.S universities are privately increasing their Bitcoin holdings

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Over the years, the acquisition of Bitcoin amongst investment companies has become a common practice, but the industry looks to be expanding as universities are now securing their spot in the Bitcoin market. According to Coindesk, sources aware of this activity have disclosed that leading U.S institutions have quietly been increasing their Bitcoin assets over the past year.

These are not just any institutions; In fact, these are some of the universities with the highest endowment funds in the United States. Harvard (over $40 billion), Yale (over $30 billion), and Brown ($4.7 billion) are three out of the eight ivy league colleges in the country that are said to be a part of the list. The highly reputable Michigan University ($12.5 billion) is also said to be following in the footsteps of the Ivies. Apparently, Coinbase has been the middleman facilitating the transactions. It was revealed that these institutions have been buying directly from the Coinbase exchange. 

The spokesperson who asked to be anonymous told Coindesk that there are a sizeable number of institutions currently pouring funds into crypto assets. “There are quite a few. A lot of endowments are allocating a little bit to crypto at the moment.”

But the interest in cryptocurrencies began in 2019 and Coinbase is being speculated to have held the funds for the institutions for as long as 18 months, according to the source, who notes that said institutions are likely cashing in on a decent return on investment and could possibly make their Bitcoin acquisitions public this year. The source is quoted saying;

“It could be since mid-2019. Most have been in at least a year. I would think they will probably discuss it publicly at some point this year. I suspect they would be sitting on some pretty nice chunks of return.”

Another source who is a part of the crypto hedge fund industry asserted that public pension plans are soon to begin allocations in the coming months.

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 “We are seeing defined benefit pension plans getting close to making allocations. We are seeing public pension plans getting close to making allocations,”

Ari Paul, the cofounder of BlockTower Capital chimed in saying; “If I had heard that three years ago, I would have said it was wrong,”.

“But a lot of institutions are now comfortable with Bitcoin. They understand it and can just buy it directly, as long as it’s from a regulated entity like Coinbase, Fidelity or Anchorage.”


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/how-top-u-s-universities-are-privately-increasing-their-bitcoin-holdings/

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DeFi Trading Platform dYdX Raises $10m in Latest Seed Round

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Venture capital coin is flowing into DeFi like never before as another trading platform hits its target for fundraising. The non-custodial Ethereum-based exchange dYdX has announced that it has raised a $10 million Series B round led by Three Arrows Capital and DeFiance Capital.

New investors include Wintermute, Hashed, GSR, SCP, Scalar Capital, Spartan Group, and RockTree Capital. The announcement added that it had continued support from a16z, Polychain Capital, and Kindred Ventures among others.

Millions Pouring into DeFi

dYdX is geared towards more experienced derivatives traders rather than DeFi degens token swapping on Uniswap. Its infrastructure combines non-custodial, on-chain settlement with an off-chain low-latency matching engine with order books to deliver an institutional-grade, liquid, and low slippage trading experience.

Its user base and trade volumes have grown significantly in 2020 as bigger players tend to get more out of DeFi operations than the smaller traders getting stung on gas fees. It added that cumulative trade volume across perpetuals, margin, and spot trading increased 40 times, reaching $2.5 billion in 2020, up from $63 million in 2019.

In terms of users, unique wallets depositing funds into the exchanges’ smart contracts increased by almost five times from 8,000 wallets to 38,588 wallets through December 31. It added that since the start of 2021, the total cumulative trade volume has surpassed $3.5 billion. According to Defipulse.com, the exchange was listed at eighteenth on the TVL list with a near all-time high of $145 million locked.

In February 2021, dYdX will launch Layer 2 solution with StarkWare using zk-Rollups for perpetual contracts.

The announcement added that the funding will be used to decentralize more parts of the stack and hand over more control to users in addition to adding new assets and features to its perpetual contracts. dYdX will also be strategically investing in international growth markets such as Asia, with a focus on China.

The Decentralization Debate

There has also been much debate about whether projects can really call themselves ‘decentralized’ if they’re backed by venture capitalists that will be entitled to a share of any tokens or rewards. In reality, they’re just like corporations with shareholders and the whales will control governance votes and the future direction of the protocol.

Last week, Uniswap founder Hayden Adams responded to a thread started by Synthetix founder Kain Warwick on exactly this subject;

DeFi analyst Chris Blec, who has been highly critical of any form of crypto centralization, aptly commented that VC involvement inevitably leads to decisions that are good for founders and strategic investors, but bad for users.

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Source: https://cryptopotato.com/defi-trading-platform-dydx-raises-10m-in-latest-seed-round/

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