Bitcoin ETFs will enhance Crypto Market Decentralization

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September 3, 2023

Bitcoin is a digital currency that operates on a decentralized network of computers, without the need for a central authority or intermediary. Bitcoin ETFs are exchange-traded funds that track the price of bitcoin and allow investors to gain exposure to the cryptocurrency without having to buy, store, or manage it themselves.

There are several potential benefits of investing in bitcoin ETFs, such as:

Liquidity: Bitcoin ETFs trade on regulated stock exchanges, which means they have high liquidity and can be easily bought and sold throughout the day.

Diversification: Bitcoin ETFs can offer investors a way to diversify their portfolio and hedge against inflation, currency devaluation, or geopolitical risks.

Simplicity: Bitcoin ETFs eliminate the hassle of dealing with bitcoin wallets, exchanges, or custodians, which can be complex, costly, or insecure.

Tax efficiency: Bitcoin ETFs may have lower tax implications than directly owning bitcoin, depending on the jurisdiction and the type of fund.

However, there are also some drawbacks of investing in bitcoin ETFs, such as:

Fees: Bitcoin ETFs charge management fees and other expenses that reduce the returns for investors. These fees may vary depending on the fund provider and the structure of the fund.

Tracking error: Bitcoin ETFs may not perfectly replicate the performance of bitcoin, due to factors such as market volatility, liquidity constraints, or regulatory issues. This means that the price of the fund may deviate from the price of bitcoin over time.

Regulatory uncertainty: Bitcoin ETFs are subject to the rules and regulations of the jurisdictions where they are listed and traded, which may change or differ from those governing bitcoin itself. This creates uncertainty and risk for investors, especially in countries where bitcoin is not widely accepted or legal.

Limited availability: Bitcoin ETFs are not widely available in many markets, as they face significant regulatory hurdles and skepticism from authorities. As of August 2023, only a few countries have approved or launched bitcoin ETFs, such as Canada, Brazil, and Germany.

Decentralization means that no single entity or authority has control over the network, the transactions, or the governance of the system. Instead, the power is distributed among the participants, who can verify, validate, and contribute to the network in a transparent and democratic way.

Why is decentralization important for the cryptocurrency industry? There are several reasons:

Decentralization enhances security. By eliminating the need for intermediaries or central servers, decentralization reduces the risk of hacking, censorship, or manipulation. The network is protected by cryptography and consensus mechanisms that ensure its integrity and reliability.

Decentralization promotes innovation. By allowing anyone to participate and contribute to the network, decentralization fosters a culture of creativity and experimentation. The network can evolve and adapt to the changing needs and preferences of the users, without being constrained by bureaucratic or regulatory barriers.

Decentralization empowers users. By giving users more control over their own data, assets, and identity, decentralization enhances their privacy and sovereignty. Users can choose how to interact with the network, what services to use, and whom to trust, without relying on third parties or intermediaries.

The cryptocurrency industry will only become better as it becomes decentralized. Decentralization is not only a technical feature, but also a social and economic vision. It is a vision of a more open, fair, and inclusive world, where everyone can benefit from the opportunities and advantages of digital currencies.

Bitcoin ETFs are a convenient, decentralized and accessible way for investors to gain exposure to the cryptocurrency market, but they also come with some challenges and risks. Investors should weigh the pros and cons of investing in bitcoin ETFs carefully before making a decision.

Get The First WIN And The Lessons from Daniel and Jose Mourinho

By

Ndubuisi Ekekwe

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September 3, 2023

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“And this is the writing that was written, MENE, MENE, TEKEL, UPHARSIN.” And the king called his enchanters, astrologers, and diviners – the wise men of Babylon – and commanded, “Whoever reads this writing and tells me what it means will be clothed in purple and have a gold chain placed around his neck, and he will be made the third highest ruler in the kingdom.” None helped!

Then the queen, his mother, came to the rescue, and told King Belshazzar that in his kingdom, there was a young man: “In the time of your father he was found to have insight and intelligence and wisdom like that of the gods. Your father, King Nebuchadnezzar, appointed him chief of the magicians, enchanters, astrologers and diviners”.

Daniel is that man; when Belshazzar took over from his father, he was demoted. Daniel was brilliant, and when Nebuchadnezzar ruled over his empires, he assembled the most knowledgeable people in all the kingdoms he controlled. He went for the best including appointing brilliant “slaves” to become heads of important positions in his government: he made Daniel the leader of his strategy team – “chief of the magicians, enchanters, astrologers and diviners”. But Daniel lost that job when Belshazzar took over.

Here is the business lesson: you just need to win once, and the “queen” [your colleague, your roommate, etc] will remember you. Like Jose Mourinho, ex-Chelsea, ex-Real Madrid, ex-ManU, ex-Inter Milan, ex-FC Porto, and currently Roma’s coach, they will keep remembering you, to pick a new “football club” and manage it. What it takes is to WIN just once, on something important, and the world will NEVER forget.

In the Igbo Nation, it takes the killing of one leopard to be called a killer of leopards. Learn from Daniel and Jose Mourinho (he won the Champions League with FC Porto and doors opened for Jose) on the pillars of enduring careers. Yes, until people can recommend you in your absence, your career ascension cannot come. Find the GREAT first #Win. Happy Sunday.

I have written about him many times and have used him as a case study in Tekedia Mini-MBA. In May 2021, I wrote “You cannot explain these things. AS Roma, the Italian football giant, has appointed Jose Mourinho as its new head coach for the 2021/2022 season. Yes, the special one returns. There is a business lesson there: people with prior great results continue to be recycled despite the abundance of new people looking for opportunities.

”You cannot make this up, as one CEO leaves one job for another job, and another CEO from another company fills it up. Jose has moved from FC Porto, Chelsea, Inter, Real Madrid, Chelsea, ManU, {vacation in my village}, Spurs, and now is gifted another via AS Roma.”

People, the special one just won the Europa Conference League with Roma and this line sums it up: ‘”Football is about winning and Mourinho wins,” said former Manchester United midfielder Owen Hargreaves on BT Sport’.

Records, records and records build careers. Even when they begin to fade, the kingmakers always default to the man or woman with records. Put some great records in your resume!

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Comment 1: This is a beautiful piece, Prof. Permit me to add another lesson here. Never hide your talents in any circumstances. Whenever the opportunity arises, show whatever you can do. If Daniel had hidden his talents in the past, no one will remember him. No one will call you to the big stage unless you have shown your talents in the small stages, paid or unpaid. Joseph and Daniel never hid their talents, they always used their talents. That’s why people always remembered them. Sometimes, we pray that God should remember us. No one remembers the person they’ve never met or do anything of value. Your talents will make ways for you when you display them.

The Referral At The Palace

As Bitcoin Plummets Below $26,000, Over $127M Liquidated to Market Volatility

By

Paul Ugbede Godwin

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September 3, 2023

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The cryptocurrency market has experienced a sharp decline in the last day, wiping out more than $127 million worth of digital assets from traders’ portfolios. The main catalyst for this sell-off was the drop of Bitcoin, the leading and most influential cryptocurrency, below the $26,000 mark. This article will analyze the reasons behind this market movement and the implications for the future of crypto investing.

Bitcoin is often considered as a store of value and a hedge against inflation, especially in times of economic uncertainty and geopolitical tensions. However, it is also subject to high volatility and price fluctuations, depending on various factors such as supply and demand, regulatory developments, technological innovations, and market sentiment. In the past 24 hours, Bitcoin has lost more than 10% of its value, falling from around $29,000 to below $26,000 at the time of writing. This is the lowest level since December 2020, when Bitcoin was on its way to reach its all-time high of over $64,000 in April 2021.

There are several possible explanations for this sudden drop. One of them is the ongoing crackdown on crypto mining and trading in China, which has reduced the hash rate and liquidity of the Bitcoin network. Another factor is the rising popularity of alternative cryptocurrencies, such as Ethereum, Cardano, Solana, and others, which offer more functionality and innovation than Bitcoin. Some investors may have decided to diversify their portfolios or switch to these newer platforms, reducing the demand for Bitcoin.

A third reason could be the general bearish sentiment in the crypto market, fueled by negative news, regulatory uncertainty, cyberattacks, and environmental concerns. Many traders may have decided to take profits or cut losses, triggering a cascade of liquidations and margin calls. Lastly, consistent delays by the US regulatory bodies on Spot Bitcoin ETFs approval is another sell off signal plummeting the current downside on the price of Bitcoin as many investors are eagerly playing mind bet games on whatever the outcome might be.

Whatever the cause, the fact is that more than $127 million worth of crypto assets have been liquidated in the past 24 hours, according to data from Bybt.com. This means that traders who borrowed money or used leverage to amplify their positions have been forced to sell their assets at a loss to repay their debts or meet their margin requirements.

This creates a downward pressure on the market, as more selling leads to lower prices, which in turn triggers more liquidations. The most affected assets were Bitcoin, Ethereum, XRP, and Binance Coin, which accounted for more than 80% of the total liquidations.

The question now is whether this is a temporary correction or a sign of a deeper trend reversal. Some analysts believe that Bitcoin is still in a long-term uptrend and that this dip is an opportunity to buy at a lower price. They point out that Bitcoin has strong fundamentals, such as its limited supply, its network effects, its institutional adoption, and its resilience to external shocks. They also argue that Bitcoin is still undervalued compared to its potential and that it will eventually reach new highs in the future.

Others are more pessimistic and think that Bitcoin has entered a bear market and that it will continue to decline in the coming months. They cite the technical indicators, such as the death cross (when the 50-day moving average crosses below the 200-day moving average), which signal a bearish trend reversal. They also highlight the challenges that Bitcoin faces, such as its scalability issues, its environmental impact, its regulatory hurdles, and its competition from other cryptocurrencies. They claim that Bitcoin is losing its relevance and appeal and that it will be replaced by more advanced and efficient platforms.

Former SEC chair, Jay Clayton, says spot Bitcoin ETF approval is ‘Inevitable

Jay Clayton, who served as the chairman of the U.S. Securities and Exchange Commission (SEC) from 2017 to 2020, has recently expressed his confidence that the regulator will eventually approve a spot Bitcoin exchange-traded fund (ETF). In an interview with CNBC on September 2, 2023, Clayton said that he believes it is “inevitable” that the SEC will greenlight a Bitcoin ETF that tracks the price of the underlying asset, rather than a futures-based one.

Clayton’s comments come amid a series of delays and rejections by the SEC of various Bitcoin ETF proposals. The agency has cited concerns over market manipulation, investor protection, and custody issues as some of the reasons for its reluctance to approve a spot Bitcoin ETF. However, Clayton argued that these challenges are not insurmountable and that the SEC is likely to overcome them in the near future.

I think we’re getting closer to that point,” Clayton said. “I think the technology has evolved and the regulations have evolved to a point where it’s inevitable that we’ll see a Bitcoin ETF.

Clayton also noted that the SEC has already approved several Bitcoin futures-based ETFs, which he said are “a step in the right direction” but not a substitute for a spot Bitcoin ETF. He explained that futures-based ETFs have higher fees and tracking errors than spot-based ones, and that they do not reflect the true demand and supply of Bitcoin in the market.

“A futures-based ETF is not a pure play on Bitcoin,” Clayton said. “It’s a play on the futures market, which has its own dynamics and its own risks.”

Clayton added that he is optimistic about the future of Bitcoin and other cryptocurrencies, as they offer new opportunities for innovation and financial inclusion. He said that he is not opposed to regulation, but rather to excessive regulation that stifles innovation and competition.

I think we need to have a balanced approach to regulation,” Clayton said. “We need to protect investors, we need to ensure market integrity, but we also need to foster innovation and competition in this space.

Ultimately, the future of Bitcoin and the crypto market depends on many factors that are hard to predict with certainty. The only thing that is certain is that crypto investing is not for the faint-hearted and that it requires a lot of research, risk management, and patience. Those who decide to enter this market should be prepared for high volatility and potential losses, but also for high rewards and opportunities.

Crypto’s Newest Sensation: Pomerdoge (POMD) Pulls Fans from Nexo (NEXO) and Axie Infinity (AXS) – Find Out Why

By

TI Partners

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September 3, 2023

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Pomerdoge (POMD) is a newcomer that’s drawing the attention of enthusiasts from established cryptos such as Nexo (NEXO) and Axie Infinity (AXS). The intriguing part is that this shift in interest is happening while Pomerdoge is still in its presale phase, offering discounted rates for early adopters. Let’s jump into the details and see what exactly is making Pomerdoge such an enticing prospect.

Click Here To Find Out More About The Pomerdoge (POMD) Presale

Pomerdoge (POMD): A Memecoin with a P2E Model

The biggest driver behind Pomerdoge’s burgeoning popularity, especially among Axie Infinity’s community, is its distinct play-to-earn (P2E) model. It’s this familiar yet innovative structure that has caught the eye of Axie Infinity holders, as they recognize the potential of another promising venture in the P2E domain.

The presale phase of Pomerdoge only amplified the excitement. With its structured phases offering POMD tokens at attractive introductory prices, it’s no surprise that many from the Axie Infinity community have shown keen interest. The ascending price strategy throughout the presale has fostered both anticipation and swift action among potential investors.

Beyond just gaming, Pomerdoge’s comprehensive ecosystem, which promises seamless integration between gaming, trading, and community engagement, stands as a testament to its ambition. It’s not just about capitalizing on current trends; it’s about setting new ones.

While Nexo has its unique appeal in the crypto financing space, the allure of Pomerdoge for Nexo fans is the chance to win passive income through its innovative P2E model. For instance, holders of the POMD tokens can stake their tokens to earn interest from the platform’s lending pool.

Analysts note that Axie Infinity and Nexo communities are just two of the many groups that have taken a keen interest in Pomerdoge. With its P2E model, attractive presale incentives, and ambitious ecosystem goals, analysts can see the POMD token price rising from $0.009 to $1.00 when the platform launches within the next year.

Why Nexo (NEXO) Holders are Being Lured by Pomerdoge (POMD)

Nexo is a leading figure in the realm of crypto-backed lending. It allows users to act as the lenders and borrowers of cryptocurrencies, enabling them to access liquidity without selling their assets.

Nexo’s decentralized approach to lending caused the Nexo token to soar by more than 1,000% during the 2020/21 bull run as investors sought out ways to capitalize on the surge in crypto prices.

However, the Nexo token has experienced a significant 87% dip to the current price of $0.58 as enthusiasm for Nexo has cooled off. Analysts note that the Nexo price has been moving within a descending triangle for a year, with the $0.55 area acting as strong support.

While a breakout from this pattern could catapult the Nexo price toward the coveted $1.00 mark, there is a huge risk that this level breaks and Nexo experiences a much larger drop. That’s yet another reason why Nexo holders are starting to turn their attention toward Pomerdoge.

Axie Infinity (AXS): Facing a Shrinking Player Base and the Breach of the $6.00 Support

As one of the pioneering projects in blending gaming with blockchain technology, Axie Infinity showcased a new way of thinking about in-game economies and player incentives. With digital creatures, or ‘Axies’, becoming prized NFT assets, many Axie Infinity players saw real-world profits from their gameplay.

The meteoric rise of over 10,000% in 2021 is a testament to Axie Infinity’s success and the surging interest in the P2E model. Nevertheless, the tide seems to have turned for Axie Infinity.

The decreasing active player base, coupled with broader market downtrends, has seen a stark depreciation in the Axie Infinity token’s value. With a staggering 97% drop from its zenith, many investors are wary, especially with the token’s breach of the crucial $6.00 support to the current price of $4.82.

The future for Axie Infinity now hinges on the team’s ability to innovate and recapture its audience. While Axie Infinity was a key player in starting the P2E realm, their inability to hold onto a majority of users has made them vulnerable to newcomers like Pomerdoge.

Find out more about the Pomerdoge (POMD) Presale Today

Website: https://pomerdoge.com/

Telegram Community: https://t.me/pomerdoge

How Nigerian Startup eBanqo is Using AI to Assist Businesses Automate Customer Engagements

By

Ojukwu Emmanuel

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September 3, 2023

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The crypto industry is facing a regulatory challenge as the Biden administration seeks to implement its economic agenda. The president has appointed several officials who have expressed skepticism or hostility towards cryptocurrencies, such as Gary Gensler, the chair of the Securities and Exchange Commission (SEC), and Janet Yellen, the secretary of the Treasury. These regulators have the power to shape the rules and enforcement actions that affect the crypto market, and they have signaled their intention to do so.

However, some lawmakers and industry representatives have urged the regulators to work with Congress on developing a clear and consistent framework for crypto regulation. They argue that the current situation is creating uncertainty and confusion for investors, innovators, and consumers, and that a collaborative approach would foster innovation and protect consumers. They also point out that some of the existing laws and regulations are outdated and ill-suited for the digital age, and that Congress has the authority and responsibility to update them.

One of the main issues that needs to be resolved is the classification of cryptocurrencies as securities or commodities. The SEC has asserted its jurisdiction over most cryptocurrencies, claiming that they are securities that need to be registered and regulated. However, the Commodity Futures Trading Commission (CFTC) has also claimed authority over some cryptocurrencies, such as Bitcoin and Ether, which it considers to be commodities. This creates a potential conflict and overlap between the two agencies, as well as a lack of clarity for the industry.

Another issue is the taxation of cryptocurrencies. The Internal Revenue Service (IRS) has issued guidance that treats cryptocurrencies as property for tax purposes, meaning that every transaction involving crypto is a taxable event. However, this guidance is vague and incomplete, and it does not address some of the unique features and challenges of crypto transactions, such as forks, airdrops, staking, and mining. Moreover, the IRS has not provided adequate tools and resources for taxpayers to comply with their obligations, such as reporting forms and software.

A third issue is the consumer protection and anti-money laundering (AML) aspects of crypto transactions. The Financial Crimes Enforcement Network (FinCEN) has proposed new rules that would require crypto exchanges and custodians to collect and report information on their customers and transactions above certain thresholds. The rules are intended to prevent illicit activities such as money laundering, terrorism financing, and tax evasion. However, some critics have argued that the rules are too burdensome and intrusive, and that they would violate the privacy and security of crypto users.

These are just some of the examples of the regulatory challenges that the crypto industry is facing in the US. The industry needs clear and consistent rules that balance innovation and protection, and that reflect the realities and opportunities of the digital economy. The regulators should work with Congress on developing such rules, rather than acting unilaterally or inconsistently. This would benefit not only the industry, but also the public interest.

Cryptocurrencies have several benefits, such as:

Lower transaction costs: Cryptocurrencies can be transferred across borders without intermediaries, such as banks or payment processors, which charge fees for their services. This reduces the cost of sending and receiving money, especially for international transactions.

Greater financial inclusion: Cryptocurrencies can be accessed by anyone with an internet connection and a compatible device, such as a smartphone or a computer. This means that people who are unbanked or underbanked, meaning that they lack access to formal financial services, can participate in the global economy and benefit from financial opportunities.

Enhanced privacy and security: Cryptocurrencies use encryption and digital signatures to protect transactions from fraud and hacking. Users can also choose to remain anonymous or pseudonymous, meaning that they do not reveal their real identities or personal information when transacting with cryptocurrencies. This protects their privacy and prevents identity theft.

More innovation and competition: Cryptocurrencies are open-source and permissionless, meaning that anyone can create, modify, or use them without needing approval from anyone else. This fosters innovation and competition in the cryptocurrency space, as new projects and solutions emerge to meet the needs and preferences of different users and markets.

Nigerian startup eBanqo, is a customer engagement SaaS provider that uses AI technology to help businesses automate customer-facing services and speed up the resolution of customer issues.

The startup helps businesses build stronger customer relationships on the web and messaging apps.

eBanqo was formed in 2019, and launched its product in July 2020. The product allows businesses to combine all their engagement channels, including web, mobile, Google Business, Facebook, Twitter, WhatsApp, and Instagram, on one omnichannel platform.

When customers come on these channels, they get instant answers to questions, resolve issues themselves, perform transactions, or chat with a support or sales representative if necessary.

The platform enables a smooth transition between AI bots and human agents, who can simultaneously engage with multiple customers from different channels on one screen.

eBanqo believes that communication between businesses and their customers should be easy, convenient, and reliable. That’s why it built an omnichannel AI customer engagement platform that helps businesses to interact with their customers and offers their services on the web and multiple messaging apps.

With eBanqo, users can automate FAQS, giving their customers instant answers to questions in their favorite messaging apps,

Integrate into their backend systems and automate workflows that allow customers to perform self-service or resolve common issues on their own.

Also, the startup seamlessly handover from a bot to a live customer service agent at a customer’s request or for complex requests, and sends predefined or custom messages to the customer’s preferred channels using selected criteria.

The Key features on eBanqo include:

An Ai chatbot to respond to questions
Multichannel live chat
Self-service options to enable customers to resolve issues on their own
Natural Language Processing that helps consumers bot to understand requests and intents better
Push notifications to enable users to send broadcast messages to customers on several messaging apps using different criteria from their dashboard.

Initially self-funded, eBanqo has since raised funds from friends, family, and VCs. The uptake has been impressive. The startup’s platform is used by several businesses in banking, fintech, insurance, and other B2C sectors. Over 100,000 customers chat with these businesses monthly on their channels.

Some of eBanqo’s Investors include LoftyInc Capital Management, EchoVC Partners, and Ventures Platform.

An online SaaS platform that can be used by any business globally, eBanqo is currently focused on English-speaking Africa but has aspirations to expand to the UK, the US, Canada, and the Caribbean.

In May 2023, the startup announced the introduction of its new app eBanqo chat, which is powered by ChatGPT which the company said will change the game of customer-business engagement.

The eBanqo Chat offers a revolutionary solution for businesses and customers to interact in an easy, efficient, and accessible way.

With ChatGPT, eBanqo Chat can deliver accurate and optimized experiences to its users. The Live Chat, Chatbot, and FAQs functionality allow businesses to provide instant solutions to their customers, track their progress, and reduce wait times.

The startup clients are charged a monthly subscription fee based on the number of their customers that use the solution and the number of channels they license.

Bitcoin ETFs will enhance Crypto Market Decentralization

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