Virtual Monument Of Bitcoin Founder Satoshi Nakamoto Opens In Ukraine’s Capital City

The pseudonymous founder of Bitcoin Satoshi Nakamoto gets his statue erected in the virtual reality of a mobile app. In honor to him, a Ukrainian project group has made this virtual monument in Ukraine’s capital city Kiev for the purpose of creating a chain of virtual cities around such statues. Even Slovenia also honored Bitcoin during the starting of 2018 in its monument erected at Kranj.

The users can see the monument on their smartphones pointed at the empty pedestal in central Kiev. This is the place where previously a statue of the Russian communist revolutionary Vladimir Lenin used to attract the visitors’ eyeballs that was later flattened by the protestors in 2013.

The idea of creating such a virtual monument of the founder of Bitcoin belongs to the Satoshi Nakamoto project, which was previously declared in May this year. However, the inauguration took place in presence of huge multitude on September 29. During that peak hours, a colorful procession was made to pass through the streets of Kiev with the supporters and crypto enthusiasts waving the sky-blue banners of the republic. One of the most noticeable things during the procession was the followers holding the banners that read “We want pension in Bitcoin,” “Return the rate of $20,000 for one Bitcoin,” etc., as reported by Bitcoin News.

The idea of taking such a step is symbolizing two epochs, past and modern. According to Andriy Moroz, the co-founder of the Ukraine-based project group, the monument of Lenin was not only a symbol of the previous centuries, but it also left conflicting feelings in the heart of common people. Whereas, Moroz believes that the pseudonymous founder of Bitcoin and decentralization of society are parts of the present era and explore new opportunities, BTC Manager noted.

The app is now available on iOS Store and Google Play. Since the virtual monument is an augmented reality experiment, anyone can have a glimpse of it in 360 degrees and click a selfie. The statue has a Bitcoin symbol glued on its chest whereas the face of Ethereum and Bitcoin Magazine’s co-founder Vitalik Buterin is tattooed on the backside.

Here isn’t the end! The crypto aficionados will be happy to know that the second virtual statue devoted to the founder of Bitcoin, Satoshi Nakamoto will be inaugurated on the Hollywood Walk of Fame in Los Angeles on November 3.

The post Virtual Monument Of Bitcoin Founder Satoshi Nakamoto Opens In Ukraine’s Capital City appeared first on OWLT Market.

from OWLT Market https://ift.tt/2RvhGU2
via IFTTThttps://ift.tt/2OlCCL9

ACC, Ambuja Cements, Ultratech Cement Come Under Pressure In Indian Share Market After Rs 6,300 Crore Penalty Imposed By CCI

Shares of many cement firms in Indian share market, including Ultratech Cement, ACC, and Ambuja Cements, went under pressure on October 5, 2018, session after the Supreme Court remained the Rs 6,300 crore penalty forced by the reasonable exchange controller CCI for alleged cartelization.

In August 2016, the CCI had slapped around Rs 6,300 crore in penalties on 11 cement organizations, including UltraTech Cement Ltd, ACC Ltd, Ambuja Cement Ltd, Ramco Cements Ltd and JK Cement Ltd, and also industry body Cement Manufacturers’ Association (CMA), for enjoying cartelization.

Shares of Ultratech Cement (down 2.55 percent), ACC (down 2.40 percent), Birla Corporation (down 1.92 percent), Ramco Cements (down 1.58 percent) and JK Cement (down 0.09 percent) fell in a specific order.

Equity market benchmarks Sensex and Nifty in Indian share market stretched out their losing streak to the third back to back session on October 5, 2018, in the midst of worries over rupee’s nonstop fall against the US dollar and surging global unrefined petroleum costs.

The cement produces the Competition Appellate Tribunal, the past investigative body, which requested that the CCI issue a new request, tested this. In its August 2016 request, aside from punishing the CMA, the CCI had guided every one of the organizations to “cease and desist” from enjoying any movement identifying with assertion, comprehension or course of action on costs, generation and supply of cement in the market.

The NSE Nifty50 file was exchanging 138 points down at 10,461. The 30-share BSE Sensex was down 352 points at 34,817 in the meantime. In the Sensex list, 11 stocks were progressing and 20 were declining.

After this, the cement producers in the National Company Law Appellate Tribunal (NCLAT), which maintained the CCI’s organization on 25 July, tested the CCI’s structure for the penalty, according to the report of Livemint.

The CCI had forced the highest penalty of Rs 1,175.49 crore on Aditya Birla amass firm UltraTech.

IndusInd Bank, Infosys, Kotak Mahindra Bank, Sun Pharma, and PowerGrid were among the gainers in the Sensex list.

In Indian share market ONGC, Vedanta, Reliance Industries, Mahindra and Mahindra and Coal India were among the failures in the Sensex kitty of stocks, according to the report of Economic Times.

The post ACC, Ambuja Cements, Ultratech Cement Come Under Pressure In Indian Share Market After Rs 6,300 Crore Penalty Imposed By CCI appeared first on OWLT Market.

from OWLT Market https://ift.tt/2PhCrkR
via IFTTThttps://ift.tt/2OlCCL9

Nifty Index Update: Nifty50 Hits Two-Year Low; Forms ‘Three Black Crows’ Pattern On Daily Chart

The Nifty index hit a two-year low in a signing session on October 5, 2018, and framed a ‘Three Black Crows’ pattern on the daily graph, which proposed the market that isn’t finished with the correction yet.

On the week after week scale, the list shaped a bearish candle for the fifth week consecutively. It has been making lower highs and lower lows and has lost some 1,500-odd points amid this period.

The development of Three Black Crows light and lower highs and lower lows on the daily diagram demonstrated that the bears are having a tight grasp available, said Chandan Taparia of Motilal Oswal Securities, who trusts the record may float towards the past swing high of 11,171 soon. For the day, the record declined 44.55 points or 0.39 percent, to 11,234.

The downside gap in an opening exchange last two sessions stays unblemished said Nagaraj Shetti Technical Research Analyst at HDFC Securities. According to the gap theory, this pattern demonstrated a bearish runaway hole, which could mean the declining pattern could proceed for some additional time, he said.

“Along negative candle has been framed on Nifty’s week after week time allotment graph, which flags a quicker descending (retracement of 9 weeks’ decrease in five weeks). This is a negative sign,” Shetti said.

Rajesh Palviya of Axis Securities said in Nifty index report, “This selling pressure was seen from the 50-DMA (11,336) level, which would now go about as a vital obstruction proceeding. The Nifty50 has denoted the days low at 11,210 around the bullish gap area of 11,210-11,185 made in July, which is probably going to remain its prompt help zone.”

Any pullback rally from the support zone couldn’t be ruled out. Any sustainable move above 11,260 would trigger an intraday bounce towards 11,300 and 11,330 levels. The violation of the 11,210 level would cause further correction towards 11,180 and 11,150 levels.

On the weekly outline, it was the fifth back to back shoulder candle for Nifty50 in succession, which recommends the market might extend more on the drawback and, in this way, can pull in trigger a help rally going ahead.

In the Nifty index, daily strength indicator RSI and force pointer Stochastic both were in the negative zone. Mazhar Mohammad of Chartviewindia.in, however, accepts positional brokers that can start new longs as the Nifty50 exchanges the 11,100-11,000 zone, according to the report of Economic Times.

The post Nifty Index Update: Nifty50 Hits Two-Year Low; Forms ‘Three Black Crows’ Pattern On Daily Chart appeared first on OWLT Market.

from OWLT Market https://ift.tt/2NsdhOI
via IFTTThttps://ift.tt/2OlCCL9

Stock Market Index Of Jet Airways Drop As ICRA Reduces Its Long-Term Borrowing Program

Stock market index of Jet Airways (India) Ltd fell as much as 7.3 pct to 182.65 rupees. Rating office ICRA minimized long-term rating allowed to long-term credits and NCDs of the company.

The stock fell 7.36 percent to hit a low of Rs 182.60 on BSE. The rating agency credited the downgrade basically to the lofty increment in jet fuel costs and rupee devaluation. Additionally, it noticed that there have delays in execution of liquidity activities by the organization. ICRA, however, reaffirmed here and now appraising has been at ICRA A4.

Oil costs ascended on October 5, 2018, as dealers anticipated a more tightly market because of U.S. authorizes on Iran’s rough fares. Independently, the ambushed transporter got around 2.58 bln rupees from Jet Privilege – its client loyalty program – for development ticket deal.

The cash-strapped airline has out the past neglected to pay rates to its representatives. The rating was assigned out to Jet’s Rs 698.9-crore, non-convertible debenture program, Rs 4,970 crore of long-haul advances, Rs 645 crore of long-term, fund-based facilities, and Rs 700 crore of long haul and non-finance based offices.

For the stock market index, ICRA reaffirmed the transient rating relegated to the aircraft’s Rs 3,950-crore here and now, non-finance based offices at A4, which implies a “minimal degree of safety regarding timely payment of financial obligations,” according to the Web site. “Such instruments carry very high credit risk and are susceptible to default.”

The airline, halfway claimed by Etihad Airways, said in August it intends to monetize a portion of its benefits, including the JetPrivilege faithfulness program, which has 8.5 million individuals. Jet Airways stock down 76.3 pct this year starting the last close, according to the report of Reuters.

“The rating downsize considers the postponements in the usage of the proposed liquidity activities by the management, additionally irritating its liquidity strain,” ICRA said in an announcement.

The ongoing choice by the government for the stock market index is to force 5 percent customs duty on ATF, a noteworthy segment of an aircraft’s operational expenses apparently added to the organization’s woes, according to the Economic Times detailed.

The post Stock Market Index Of Jet Airways Drop As ICRA Reduces Its Long-Term Borrowing Program appeared first on OWLT Market.

from OWLT Market https://ift.tt/2Csid5b
via IFTTThttps://ift.tt/2OlCCL9

Non-Energy Commodity Trading Exposure Makes China Weaker In US-China Trade War

China’s sensitivity to non-energy commodity trading has made it weaker in the ongoing trade war between the US and China.

Diana R. Rudean, Director of Applied Research at Axioma, said the tariff fight trapped China to get more sensitive to changes in the broad non-energy commodity prices. Rudean also stated that the latest downturn in the non-energy commodities has impacted much heavily on the Chinese market.

The Chinese markets’ exposure to non-energy commodities have resulted in the market trend with the Chinese shares on a downturn and the US markets on a tear, and it seems that the US stocks are withstanding the intensifying trade war much better than the China stocks, based on the study published by Axioma in August 2018.

The diminishing sensitivity of the US markets towards non-energy commodities might be due to tax cuts and deregulation. The protectionist policies like tariffs boosting investor sentiment in the US market could also be one of the reasons.

Moreover, the U.S. market might have progressed towards stocks that are less sensitive to the commodity market, added Rudean.

The non-energy commodity trading prices started decreasing after the trade war between the US and China intensified in June 2018. The GSCI Non-Energy Index has fallen 4.5 percent until now this year.

The Chinese indexes have recorded sharp losses and its market volatility is increasing until now this year, while the U.S. stocks are going up and the American market volatility is down, according to a report available on CNBC.

The escalating trade war between the US and China has thus impacted much heavily on the Chinese market, with a more diffident influence on the US market. The differences in the impact on the market are due to the difference in the sensitivities of these two countries towards non-energy commodity trading, as reported on Harvest.

The post Non-Energy Commodity Trading Exposure Makes China Weaker In US-China Trade War appeared first on OWLT Market.

from OWLT Market https://ift.tt/2Ct38QB
via IFTTThttps://ift.tt/2OlCCL9

Argentina To Get 30 Cryptocurrency ATMs To Buy And Sell Bitcoin As Peso’s Value Dwindles

Argentina got its first Bitcoin ATM installed last month in a Buenos Aires shopping mall. Now the South American nation could be getting as many as 30 cryptocurrency ATMs by the end of 2018 with the rising demand of Bitcoin.

The financial crisis in Argentina will be eased with the plummeted value of Peso. So far, the nation’s currency Peso has dwindled by 50 percent when valued against the US dollar in this year. With the value of Peso tumbling severely and inflation is believed to swell around 40 percent by the completion of 2018, the demand for world’s largest cryptocurrency has highly proliferated in Argentina. In other words, the growth of transactions in the digital currency has accelerated with the loss in Peso’s value against the US dollar.

A US company, Athena Bitcoin, installed the first Bitcoin ATM machine understanding the huge potential across the entire nation. Meanwhile, another US company, Odyssey Group is all set to foray its expansion in Argentina by installing around 150 cryptocurrency ATMs soon. Among those 150 ATMs, about 80 percent will be Bitcoin-operational within the first few months of 2019.

According to Dante Galeazzi, Argentina operation manager for Athena Bitcoin, with the rising demand of the digital currency ATMs all over the world, Argentina proved to have huge potential for capturing the market. “In Argentina, there were no commercial ATMs and the idea was to be the first to capture the market,” as reported on Reuters. He further added that investment in Bitcoin almost protects Peso’s value and gives a chance to make an investment in the market.

As far as Odyssey’s expansion plan is concerned, the company plans to install 1,600 Bitcoin ATMs in Argentina in 2019, AMBCrypto reported. Odyssey claims that its cryptocurrency ATMs will be the platform for the customers to not only buying and selling digital assets, those will also perform other activities such as withdrawal, deposit and transfer just same as traditional banks. Apart from Argentina, both the US companies are also trying to expand in Mexico, Brazil and Chile.

The post Argentina To Get 30 Cryptocurrency ATMs To Buy And Sell Bitcoin As Peso’s Value Dwindles appeared first on OWLT Market.

from OWLT Market https://ift.tt/2PbN2xn
via IFTTThttps://ift.tt/2OlCCL9

Hacked Crypto Exchange Zaif Yet To Compensate Customers

Crypto exchange Zaif which was hacked three weeks ago is yet to compensate its users. The exchange’s parent company, Tech Bureau suspended trading on the platform when it uncovered the hacking incident. It apologized to its customers and stated that the customers can expect compensation soon. Even though the exchange had allegedly made arrangements to have the funds available, the customers are still to receive compensation for their losses.

Earlier Tech Bureau had announced immediately after the hack that it has made a deal to sell off a large chunk of the company to Fisco Digital Asset Group for $44.5 million to compensate its customers. However, the exchange told regulators this week that it needs additional time to finalize the repayment plan.

Crypto exchange Zaif’s parent company, Tech Bureau added that it is still trying its best to work out the terms of the Fisco deal. This news comes as a surprise since the two companies had earlier quickly reached an understanding post the hack. Also, both the companies had three weeks in hand to hash out the details.

On October 1, Tech Bureau shared that as soon as they complete the basic agreement with Fisco, they will proceed towards negotiations and consultation for concluding the formal contract. It also added that there won’t be any change in terms of compensation for the customer assets. It assured that once the deal is finalized, it would promptly share the details, as mentioned in the PR Times Japan.

Meanwhile, Japan’s Financial Services Agency (FSA) launched an investigation into the crypto exchange Zaif hack. The FSA subsequently issued a business improvement order to Tech Bureau. This was the third business improvement order received by Tech Bureau for the Zaif exchange, as stated in the CoinGeek report. The recent hacks have added more pressure on regulators to crack down and intervene on crypto exchange operators to ensure that they are offering adequate security to their customers.

The post Hacked Crypto Exchange Zaif Yet To Compensate Customers appeared first on OWLT Market.

from OWLT Market https://ift.tt/2OenjIA
via IFTTThttps://ift.tt/2OlCCL9