By CCN Markets: Goldman Sachs analyst David Tamberrino delivered some ugly thoughts about Tesla’s stock, and it relates the sustainability of demand. There is a lot of that going around. Tesla’s annual revenue: 2019: $ 25.0 billion*2018: $ 21.5 billion2017: $ 11.8 billion 2016: $ 7.0 billion2015: $ 4.1 billion 2014: $ 3.2 billion2013: $ 2.0 billion2012: $ 413 million2011: $ 204 million2010: $ 117 million2009: $ 112 million2008: $ 15 million *analyst forecasts pic.twitter.com/wDjKbRODSR — Jon Erlichman (@JonErlichman) June 21, 2019 Tesla’s Success is Due to Government Rent-Seeking One of the many criticisms regarding Tesla is its reliance on government handouts, including tax incentives. The federal government provided a whopping $ 7,500
Over the last two years, the Lightning Network has been touted as the scaling solution for the Bitcoin Core (BTC) network. However, the solution has been heavily criticized for its lack of security, and on March 28, Bitcoin Unlimited’s chief scientist Peter Rizun wrote an interesting evaluation of the Lightning Network’s “dirty little secret.”
New Zealand-based altcoin exchange Cryptopia reportedly suffered a major security breach Monday that resulted in “significant losses.” In response, the exchange has gone into an indefinite maintenance mode. While little else is known beyond what was revealed in the announcement, the language indicates that the attack could sideline the exchange for an extended period of time. Cryptopia has […]
The latest equity market data makes for pretty grim reading for conventional equity traders, as it shows that the Dow Jones Industrial Average has suffered its worst week since the global financial crisis of 2008. According to the data, the Dow lost 1,655 points or about 7 percent in its worst week-on-week decline in 10 years
The post Bitcoin Price Recovers as Dow Suffers Worst Week in a Decade appeared first on CCN
The intense downtrend of the crypto market is finally having a toll on the best performing digital asset of the month. Ripple (XRP), now the second most valuable cryptocurrency in the market, is no longer up in value on a monthly basis. Throughout the past 30 days, XRP has maintained the $ 0.5 level relatively well … Continued
The post Ripple(XRP) Finally Suffers Major Price Drop as Crypto Market Wipes Out $ 12B appeared first on CCN
Whether “under attack” or otherwise, Bitcoin Cash SV (BSV), which at present has more than 4,000 unconfirmed transactions, has been experiencing a great deal of turbulence since last week’s hard fork. More importantly: around block 557301, multiple sources identified a block reorganization within the BSV blockchain. Our Bitcoin SV node experienced a 2 block re-org
The post Bitcoin Cash: Craig Wright’s BSV Suffers Multi-Block Reorg, Wins ‘Drama per Second’ Battle appeared first on CCN
“We got spanked.” That’s the message that SpankChain, the initial coin offering (ICO) funded adult entertainment website, used to inform its users that a hacker had exploited a bug in one of its smart contracts to abscond with 165.38 ETH, worth about $ 38,000 at the time of the theft. Another $ 4,000 worth of the platform’s
The post ‘We Got Spanked’: Adult Entertainment ICO Suffers $ 38,000 Hack appeared first on CCN
The fallout from India’s regulatory position on cryptocurrencies is leading to an exit of talent, businesses and investment from the country’s blockchain space on a scale paralleled only by a prior wave of tech industry flight during the internet boom of the late 90s and early noughties. According to a recent News 18 report, a substantial
The post India’s Blockchain Ecosystem Suffers as Antagonistic Government Policy Brings Exodus appeared first on CCN
Cryptocurrency Verge has suffered what executives are claiming is a DDoS attack. The platform is experiencing a serious delay in its blockchain, which has led to security concerns amongst users and worries about the currency’s stability.
At press time, Verge is trading for roughly $ 0.052, and its market cap value sits at $ 785 million. A decrease in the currency’s price has occurred over the last hour, docking Verge down by 0.36 percent, while the coin has fallen by nearly 7 percent over the last 24 hours. Currently, Verge is the world’s 31st largest cryptocurrency per CoinMarketCap.com.
It seems today is off to a bit of a rocky start as of right now. Although a temporary setback is nothing to be overly concerned at this point in time, it does show bearish momentum can form at any given moment. The top three are still in a safe position, for now, but the Tron price is getting a lot more pushback than expected at this point.
There’s a constant feud these days between Bitcoin Core (BTC) supporters and Bitcoin Cash (BCH) proponents right down to the nitty-gritty of nearly every topic in the space, and the arguments continue to this day, relentlessly. One such example is the Bitcoin Cash article hosted on Wiki has been page protected for a couple weeks now for “vandalism.”
Bitcoin’s price has suffered a slight blunder. After spiking to nearly $ 8,400 over the weekend, the coin fell during today’s early morning hours to $ 7,900, but has since rebounded to about $ 8,000 at press time. It’s good news to know that while bitcoin failed to develop stronger resistance during its Sunday high, the drop wasn’t any worse.
Joining bitcoin with an exact-matching four percent drop in value is ether, which has fallen from approximately $ 537 to $ 503 at the time of writing. In addition, bitcoin cash, Ripple’s XRP and litecoin have all fallen by roughly three percent each.
A strategist at JPMorgan Chase now says that Bitcoin could be a legitimate asset like gold even though CEO Jamie Dimon rips into the cryptocurrency. Will JPMorgan suffer whiplash from this constant back-and-forth?
Is there a doctor in the house? We could use one as JPMorgan Chase once again does an about-face concerning Bitcoin, which may lead to a case of whiplash. The banking and financial services giant has a dubious history with the popular cryptocurrency, mainly due to their CEO, Jamie Dimon, who has publicly and repeatedly lashed out at Bitcoin while praising the underlying blockchain technology. Now one of their strategists says that Bitcoin could be the new gold and be a legitimate asset.
When something like this happens there can be a lot of panic the results. Today I wanted to clearly lay out what happened here, the circumstances that allowed it to happen and then give you some reassurance that these stories do not mean cryptocurrencies themselves are not secure.
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