Does fear of failure keep you from starting exploring new ventures?
Have you ever asked yourself, why online success comes easily to other people, but seems to be eluding you all the time?
Have schemers driven you to the point of giving up?
My advice is short, sweet and to the point: You need to know that, it’s always too soon to quit! Remember quitters never succeed.
Successful people hang in there, they get back up when they fall and try again. You see, your friends who have become Online Success Stories didn’t throw in the towel and quit when the going got tougher, NO, No , No! They knew what they wanted in life and they wanted it badly enough to persevere through the desert, and what happened: They got to the other end. They paid the price and achieved their Online business dream. You CAN too ,only if you don’t quit on yourself and your internet venture.
Remember: It’s always too soon to give up. In other words, Never Give Up until you get the results that you after.
All the best!
In the course of operating their businessess entrepreneurs meet challenging situations on a daily basis. However, its how they react that determines their altitude. It is very important for the business owner to know the value of challenges. That challenges are meant to make us strong, many of the great achievers we see today turned obstacles into stepping stones and in the end became successful beyond measure.
Today, I have decided to share a story which I am sure will help to make us appreciate the role of obstacles in our different situations . Lets learn to welcome challenges for our own growth.
By: Author Unknown
A little girl walked daily to and from school. Though the weather that morning was questionable and clouds were forming, she made her daily trip to school. As the afternoon progressed, the winds whipped up, along with thunder and lighting.
The mother of the little girl felt concerned that her daughter would be frightened as she walked home from school, and she herself feared that the electrical storm might harm her child.
Following the roar of thunder, lightning, through the sky and full of concern, the mother quickly got in her car and drove along the route to her child’s school.
As she did so, she saw her little girl walking along, but at each flash of lightning, the child would stop, look up and smile. Another and another were to follow quickly, each with the little girl stopping, looking up and smiling.
Finally, the mother called over to her child and asked, “What are you doing?”
The child answered, smiling, “God just keeps taking pictures of me”.
A man claiming to be the anonymous creator of Bitcoin has published the first article in a three-part series that will supposedly unveil the identity of the cryptocurrency mastermind known as Satoshi Nakamoto.
In part one of “My Reveal”, the self-professed Satoshi says he grew up in Pakistan, and his father worked at United Bank Limited, a Pakistani multinational bank based in Karachi.
“Nakamoto” says he was deeply affected when the UK’s central bank shut down Pakistan’s scandal-ridden Bank of Credit and Commerce International (BCCI) in 1991, as well as the global financial collapse and great recession that began in 2008.
“On a personal level, when I visited the UK in 2005, no bank would open its doors for me to give me access to a bank account because I didn’t have a permanent UK address. Without a bank account, I had no access to online facilities, and I didn’t know how to overcome this obstacle…
I felt like a failure and was humiliated by the banks so I made it my mission to invent something that would enable a common layperson to access money without involving the big banks. I wanted to empower the poor person, empower the little man, and create something that was accessible as the people’s money – the people’s bank with no boundaries, no nationalities, and no discrimination – where nothing was controlled by the government and where no one dictated and destroyed people for the sake of misplaced politics.
Even a poor kid with limited education could potentially reap the benefits from Bitcoin whilst sitting in China, India or Africa. I was driven to create something that would change finance and the banking world forever and would give people the power, taking away the central banks’ control.”
After studying cryptography, “Nakamoto” says he began to build Bitcoin with Hal Finney in 2006. Finney, a computer scientist who passed away in 2014, is well known for working with Satoshi and famously proclaimed he had successfully started running a Bitcoin node back in 2009.
In the post, “Nakamoto” also publishes images of a computer he claims to have used to mine Bitcoin back in the early days. The computer is a Fujitsu Lifebook laptop, model Fpc04041b.
The post concludes by thanking Finney for his contributions to Bitcoin, and promises to reveal the name and identity of Nakamoto on August 20th.
“Hal knew from day one that I was neither a cypherpunk nor a hard-core techie, but he always said that he liked my sincerity and smartness in things that no one else could envision. He liked when I talked about signs in people and he mentioned that in his last post on the 19th of March 2013 on Bitcointalk.
‘Today, Satoshi’s true identity has become a mystery,’ he said. ‘But at the time, I thought I was dealing with a young man of Japanese ancestry who was very smart and sincere. I’ve had the good fortune to know many brilliant people over the course of my life, so I recognize the signs.’
I think he used this post as a way to communicate with me, as he knew all my emails had been hacked. Unfortunately, by the time I looked at the post in 2015, he was gone forever.”
The digital marketing agency Ivy McLemore & Associates published the piece and claims it’s a transcription of Nakamoto’s words. The New York-based agency has strongly denied the notion that the series is an elaborate PR stunt.
The real Satoshi can prove his identity by signing a message with the address from the very first Bitcoin block. Until then, crypto leaders like Litecoin’s Charlie Lee say they’re taking the new posts from the self-professed Bitcoin creator with a giant grain of salt.
Bakkt has announced the coming launch of its much-anticipated platform for daily and monthly futures in the United States in a blog post on Aug. 16. Having received approval from the necessary regulators, the launch is scheduled for Sept. 23.
Bakkt’s physically delivered futures have been the subject of a great deal of anticipation, with the company initially announcing its launch August 2018 before being subject to repeated delaysover compliance issues. Satisfying the Commodity Futures Trading Commission (CFTC) has proven particularly challenging. The company began testing in earnest on July 22, as Cointelegraph reported at the time.
Per the announcement, Bakkt has hosted numerous events in New York and Chicago — cities critical to the U.S. futures market. They have also sat down with regulators from the CFTC as well as the Securities and Exchange Commission.
Bakkt will be partnering with Intercontinental Exchange Futures U.S. and Intercontinental Exchange Clear U.S. to provide its futures contracts.
Institutional services and custody have been a growing market in crypto, with major U.S. exchange Coinbase announcing the addition of Xapo’s Institutions into its custodial operation last night. After the announcement, Coinbase CEO Brian Armstrong commented on the major rise in institutional clients for crypto services, saying:
“Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it’s safe to say we now know the answer. We’re seeing $200-400M a week in new crypto deposits come in from institutional customers.”
Coinbase Custody acquires Xapo’s institutional business, becoming the world’s largest crypto…
Crossing $7 billion in assets under custody, Coinbase Custody is now the most popular and trusted choice for institutions to store…
Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it’s safe to say we now know the answer. We’re seeing $200-400M a week in new crypto deposits come in from institutional customers.
Coinbase unveiled a push to bring billions of dollars of Wall Street money into Bitcoin and crypto late last year, with the launch of Coinbase Custody and its over-the-counter (OTC) trading desk.
Vice president and general manager Adam White talked about the company’s master plan for institutions in an interview with CNBC.
“We think this can unlock $10 billion of institutional investor money sitting on the sideline. We’re seeing a rapid increase in attention awareness and adoption in the cryptocurrency market.”
The new numbers from Coinbase coincide with a recent report from Grayscale, the world’s largest cryptocurrency asset manager.
The firm reported a new all-time high in volume in Q2 2019 and hit $2.7 billion in assets under management, thanks in large part to institutional investors.
“Grayscale assets under management (AUM) nearly tripled: Grayscale AUM grew from $926 million at the end of Q1 2019 million to $2.7 billion at the end of Q2, and all ten investment vehicles included in the Grayscale family of products generated positive performance, net of fees for the first time…
Inflows nearly doubled quarter-over-quarter, from $42.7 to $84.8 million, demonstrating that the recent rally in digital asset prices is supported by fresh investment and despite the fact that the Grayscale Bitcoin Trust was temporarily closed to new investment throughout May and June…
This quarter, institutional investors comprised the highest percentage of total demand for Grayscale products (84%) since we began publishing this report in July 2018.”
Since hitting the all-time high, Grayscale AUM dipped along with the price of Bitcoin, with the figure now standing at $2.5 billion.
A BBC journalist is sharing his story on how he lost $30,000 in Ethereum (ETH) in an effort to try and educate crypto newbies.
Business reporter Monty Munford says he decided to buy the second-largest cryptocurrency by market cap in mid-2017.
“I chose it not for any other reason than it was second to Bitcoin by valuation and looked like it could emulate that 100,000% rise. So in the middle of 2017, I made some investments, figuring that it was a long-term plan and might even become a nest egg for a pension.”
Munford says the experience was “utterly terrifying” and after buying his Ethereum, he read about the frequency of crypto exchange hacks and decided to move his crypto to a wallet for safekeeping.
He chose MyEtherWallet and obtained the private key to his holdings – the string of letters and numbers he needed to access his crypto.
But then came the crucial mistake. Munford says he wrote the private key on a piece of paper and stored it in his Gmail drafts folder, so that he could access his crypto with ease. When the price of Ethereum shot up in late 2017, he decided to check his holdings, only to discover that all of his crypto had been moved to another address.
Munford contacted the US-based blockchain forensics company CipherBlade, and sent the results to Binance.
“The following morning I was contacted by Sussex’s cybercrime unit, my local force, and within a week they had received useful information from Binance. The unit tracked IP addresses to a telecoms company in the Netherlands, but there weren’t any personal identification details to be had – perhaps unsurprisingly.
The investigations continue, and my money remains stolen.”
Crypto thieves likely used a phishing scam to access Munford’s email or used malware to gain access to his computer, monitor his keystrokes and copy/paste his activities. Either way, Munford says he’s telling his story to let others know how careful they need to be with their private keys.
“So I’m left with my fingers burned, feeling like I wandered into a savage bazaar where criminals can pick your pocket at will. And get away with it. Please learn from my mistakes.”
Today, digital asset management fund Grayscale Investments will transfer nearly $3 billion worth in cryptocurrency holdings to American major crypto wallet provider and exchange exchange Coinbase.
Largest single crypto transfer?
As Forbes reported on Aug. 2, Grayscale is going to move almost $3 billion worth of its digital currency holdings, including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) and XRP, among some other tokens, to Coinbase. Coinbase Custody will then serve as custodian of the underlying assets for the company’s products.
Together with its cryptocurrency holdings, Grayscale will transfer its publicly quoted cryptocurrency trusts and its Grayscale Digital Large Cap Fund to Coinbase. The transfer will thus apparently be one of the largest single day transfers of crypto assets ever conducted.
Commenting on the deal, Sam McIngvale, Coinbase Custody chief executive, said:
“As a NY State-chartered trust company, Coinbase Custody is held to the same fiduciary standards as national banks. We also offer some of the broadest and deepest insurance coverage in the crypto industry.”
Hitting new records
In mid-July, Grayscale recorded an all-time high volume of assets under management of $2.7 billion. In such a way, the figure marked a near tripling of assets under management by the company since the preceding quarter.
As previously reported, Grayscale Investments’ Bitcoin Trust was up almost 300% on the year as of July 9. At the time, the trust was yielding a 296% year-to-date appreciation — a stratospheric increase as compared to mainstream investments reflected in the S&P 500 (18.7%) and Global Dow (12.9%) over the same time period.
Coinbase Custody revealed in June that it held $1.3 billion in assets under custody and the firm expected to hit $2 billion AUC soon.
Former Goldman Sachs analyst turned Bitcoin (BTC) maximalist Murad Mahmudov believes the top cryptocurrency will hit $100,000.
“Zoom out & think big”
In a tweet posted on Aug. 13, Mahmudov — who serves as chief information officer (CIO) at cryptocurrency hedge fund Adaptive Capital — wrote:
“At first glance this looks like a weak chop for the next week or so, but my intuition tells me there is steady accumulation happening at these levels. Don’t try to outsmart yourself on short timeframes, zoom out & think big. In my view, BTC is going to $100K per orangecoin.”
Mahmudov analyzed the coin’s key support levels, observing that “200MA [moving-average] /EMA [exponential moving average]/RSIbands [relative strength indicator]+Weekly support all point to 10.8 [$ thousands) but you may get a wick at most given the orderbook support across exchanges.”
Isolating $10,800 as an emergent key support level on the BTC/USD daily chart as well, he said that — with the caveat that he is not purporting to give financial advice — “If I were a betting man, I would be patiently and slowly adding at every key support.”
To the sky
Mahmudov’s eye-popping $100,000 forecast has been recently echoed by Morgan Creek Digital Assets founder Anthony Pompliano, who considers that the recent dovish turn by central banks will be rocket fuel for Bitcoin’s price and help drive it to $100,000 by the end of 2021.
Pompliano also cited bitcoin’s halving — the reduction of mining rewards in half in May 2020 — as a major factor likely to propel the coin’s valuation upwards.
This July, Cointelegraph reported that United States-based regulated crypto derivatives and clearing platform LedgerX was giving retail investors the chance to bet on Bitcoin hitting $100,000 by 2020.
New Zealand’s tax department, the Inland Revenue Department (IRD), has officially made it legal for local workers to receive salaries in cryptocurrency. The ruling will go into effect on September 1, 2019 and will apply for a period of three years.
The tax collection agency’s modified Income Tax Act states that employees can be paid in digital assets for any work done under an employment contract. The recipients will have to pay taxes, the IRD’s August bulletin notes.
“This Ruling applies only to salary and wage earners, not self-employed taxpayers; and where the crypto-assets being paid:
• are not subject to a ‘lock-up’ period; • can be converted directly into a fiat currency (on an exchange); and either: – a significant purpose of the crypto-asset is to function like a currency; or – the value of the crypto-asset is pegged to one or more fiat currencies.”
The crypto-asset payments are “PAYE income payments” and subject to the PAYE (pay as you earn) rules, which allow workers to be taxed directly from their wages or salary. Employers make the appropriate deductions from workers’ paychecks and then report the amounts directly to the local tax authority.
The IRD stipulates that conversion rates should be denominated in New Zealand dollars.
“However, where a crypto-asset payment is not denominated in NZD (for example, if an employee is paid 0.001 bitcoin per fortnight), it is necessary to calculate the NZD value of the crypto-assets on the date it is paid to the employee. Conversion rates may be obtained from any centralised data repository site that may be listed from time-to-time on the Inland Revenue website.”
The following example is included to help explain the application of the law.
Example: Employee paid part of salary in bitcoin
63. Ken is employed by Cryptowonderland Ltd. His salary is NZ$10,000 per month before tax. Half Ken’s salary is payable in NZD direct credited to his bank account. The other half is payable in bitcoin transferred to Ken’s bitcoin wallet.
64. PAYE should be calculated on the $10,000 gross payment and withheld and paid to the Commissioner (in New Zealand dollars). The net amount is payable to Ken.
65. If Ken is a Kiwisaver member or is subject to, for example, child support or student loan deductions, the Employer’s Guide (IR335) and the PAYE calculator (both available on the Inland Revenue website http://www.ird.govt.nz) can be used to assist with calculating these.”
As the demand grows for wages in Bitcoin and other leading cryptocurrencies, blockchain developers are building applications.
For example, Bitwage, a San Francisco-based startup, allows companies to make direct deposits in Bitcoin to their employees. In June, Bitwage’s management added Ether as a payroll option. The company currently provides services to more than 30,000 workers throughout the world, including freelancers and independent contractors.
The Prime Minister of Malta, Joseph Muscat, has said that cryptocurrencies are the “inevitable future of money,” and that blockchain can galvanize a more transparent and equitable society. The Prime Minister made his remarks in a speech addressed to the general debate of the 73rd Session of the General Assembly of the U.N. September 27.
Muscat made a spirited case for the transformative, political impact of bleeding-edge technologies, saying that those who “pair the new digital economy with a new state – a digital state,” will be best poised “to create a future-proof society”:
“Blockchain makes cryptocurrencies the inevitable future of money, more transparent since it helps filter good businesses from bad businesses. But these distributed ledger technologies can do much more.”
The Prime Minister argued that distributed ledger technologies (DLT) – of which blockchain is one type – will transform the gamut of political, civic, and corporate systems. Their potential to solve “decades-old problems” was the impetus for Malta to “launch itself as a ‘Blockchain Island,’” he said, claiming the island was “the first jurisdiction worldwide to regulate [the] technology,” prising it out of a “legal vacuum.”
Malta’s Prime Minister proposed that DLT can ensure “that no one is deprived of their legitimate property because of compromised data,” that corporations “become more accountable to their shareholders,” and that states “move from hoarding information on their citizens to regulating an environment where citizens trust the handling of their own data.”
In healthcare, DLT would mean that patients have “real ownership of their medical records,” he said, and make administration more robust and efficient, with wide-reaching consequences – a blockchain system could, for example, “verify that humanitarian assistance is reaching its intended destination.”
The Prime Minister nonetheless recognized the resistance that such new technologies may encounter, noting that:
“There are challenges in this fast and obvious transition to a digital economy and society. These challenges have to do with the very nature of concepts that we believed would stay with us forever […] but solutions do do not come by closing doors.”
He suggested that while “antagonistic stances” may have their appeal as a short-term strategy to politicians, to resist technological change would be “as myopic as those advocating for horse carts not to be replaced by automobiles.”
As previously reported, Malta’s strong reputation for having a robust and transparent crypto regulatory climate has led several crypto industry leaders to relocate their operations to the island. Crypto exchange Binance first announced it was relocating its headquarters there in March – OKex and BitBay are two others that have followed suit.
In June, the Maltese parliament approved three DLT- and crypto-related bills, consolidating the island’s bid to remain at the forefront of blockchain innovation.