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New Digital Currency

Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to earn Pi and help grow the network. To join Pi, follow this link https://minepi.com/GJX111 and use my username (GJX111) as your invitation code.

New digital currency

Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to earn Pi and help grow the network. To join Pi, follow this link https://minepi.com/GJX111 and use my username (GJX111) as your invitation code.

New digital currency

Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to earn Pi and help grow the network. To join Pi, follow this link https://minepi.com/GJX111 and use my username (GJX111) as your invitation code.

Earn-Pi the New Digital Currency

Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to earn Pi and help grow the network. To join Pi, follow this link https://minepi.com/GJX111 and use my username (GJX111) as your invitation code.

New digital currency - Pi

Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to earn Pi and help grow the network. To join Pi, follow this link https://minepi.com/GJX111 and use my username (GJX111) as your invitation code.

CHINA - E.U. summit 'MASSIVE' Succes, IGNORING U.S. Demands

China plans to ban cryptocurrency mining in renewed clampdown

TUE, APR 09, 2019 - 3:57 PM

China signaled its intent to ban cryptocurrency mining, dealing a fresh blow to an industry buffeted by tumbling virtual currency prices, stiff competition and waning investor interest. 

BLOOMBERG

[HONG KONG] China signaled its intent to ban cryptocurrency mining, dealing a fresh blow to an industry buffeted by tumbling virtual currency prices, stiff competition and waning investor interest.

The National Development Reform Commission, the country's powerful economic planner, this week listed crypto-mining among a plethora of industries it intends to eliminate because they "seriously wasted resources" or polluted the environment. The agency is seeking public feedback on the guidelines and indicated that the crypto-mining ban could take effect as soon as they're formally issued. The consultation period ends on May 7.

While China was once home to about 70 per cent of Bitcoin mining and 90 per cent of trades, authorities have waged a nearly two-year campaign to shrink the crypto industry amid concerns over speculative bubbles, fraud and wasteful energy consumption.

After banning initial coin offerings and calling on local exchanges to halt virtual currency trading in 2017, Chinese officials outlined proposals in 2018 to discourage crypto mining - the computing process that makes transactions with virtual currencies possible but consumes vast amounts of power. Beijing was said to have asked local agencies at the time to try and push miners out of business.

The industry, which was initially drawn to China's inexpensive electricity, local chipmaking factories and cheap labour, has begun shifting overseas. Market leader Bitmain Technologies Ltd - which in March allowed its application for a Hong Kong initial public offering to lapse - has established mining operations in the US and Canada. BTC.Top, the third-biggest mining pool, said last year it was opening a facility in Canada.

SEE ALSO: China promises EU companies equal treatment

Taiwan Semiconductor Manufacturing Co and Nvidia Corp are among listed chipmakers that supply crypto miners in China and around the world.

BLOOMBERG

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Trump's tax law sent stocks soaring — but now his trade war is hurting the market's biggest driver, and threatening to erase all his progress -Business Insider.

Trump's tax law sent stocks soaring — but now his trade war is hurting the market's biggest driver, and threatening to erase all his progress  As investors look ahead to 2019 earnings, they're becoming more worried about the impact of US trade policy on profit growth.  This had a limited effect on the stock market until recently, when many companies started detailing how badly they expect tariffs to hurt their bottom lines.  The trade war worsened a sell-off that wiped the stock market's gains for 2018, and now threatens to undo the positive effects of tax cuts.  President Donald Trump rarely brags about the stock market on Twitter these days.  He has instead turned to other issues during the market's sharp correction — one that's wiped out gains for the year just weeks before the crucial midterm elections. Earlier in 2018, when it seemed like stocks were hitting all-time highs on an almost daily basis, Wall Street was quick to cite the Tax Cuts and Jobs Act as a significant catalyst of future profit growth, which has been the most important driver of stock prices. UBS, for example, forecast last December that profit gains would lift the S&P 500 by 25% this year if the tax bill passed. Other firms devised investing playbooks for tax reform, such as buying companies that had been paying the highest rates, and loading up on multinationals with piles of overseas profits waiting to be repatriated. However, in October, US stocks fully joined a global sell-off that's now on pace to erase nearly $8 trillion in market cap, the biggest monthly decline since the 2008 financial crisis according to Bloomberg data. It certainly seems that investors who were once quick to praise the merits of one of Trump's signature policies (tax reform), have started focusing more on the risks from another (tariffs). This can be seen in the outlook for 2019 earnings, which has seen trade shift from a dormant concern to a prominent one. "We estimate that an all-out US-China trade war (25% tariff on US-China trade) would reduce S&P 500 earnings ~3%," Barclays' Ajay Rajadhyaksha said in a recent note. "One potential reason why the market was sanguine about trade wars was that this is not a meaningful fraction of 2018 earnings growth, which is estimated to be greater than 20%." Rajadhyaksha said he expects less than 10% growth next year. The idea that mounting trade tensions could lead to a profit slowdown has been a major recurring theme of third-quarter earnings season. Ford, Honda, and BMW all issued warnings about how the steel and aluminum tariffs are raising costs and biting into profits.  Companies in the industrials sector that rely on access to Chinese markets have also sounded the alarm on tariffs. Caterpillar sank when it said tariffs would raise its material costs, even though its executives tried to reassure investors that it planned to put offsets in place.   Fastenal, a supplier of nuts, bolts, and other fasteners, said on its earnings call that it took a limited hit from US tariffs on China until the third round announced mid-September that impacted its North American customers.   Other examples abound; according to FactSet, more than a third of companies discussed tariffs on their earnings calls. With all of that considered, it would seem the stock market's wipeout this month has shown that the trade war is worsening a sell-off that was brewing all along.  But trade has by no means been the only issue on investors' minds of late. Fed policy — and its impact on inflation and borrowing costs — has been troubling investors since the correction earlier this year. Trump touched upon the subject on Tuesday when, on Twitter, he quoted Wells Fargo strategist Scott Wren as saying the S&P 500 would be higher if the Federal Reserve "backs off and starts talking a little more dovish."  Trump has gone as far as to call the Fed "crazy" for raising interest rates and thereby reducing the allure of borrowing. The slowdown in cyclical sectors like housing and autos holds evidence of the effect of higher rates. Beyond the trade war's impact on corporate earnings, as well as the Fed's planned rate hikes, investors are grappling with what's ahead for the market. At this point, if just one thing is abundantly clear, it's that Trump's conflict with China is doing more harm than good. Read » Advertisement   Also On Markets Today:      Email sent to:   ericauseemeng@gmail.com   |   Manage your email preferences   |   Unsubscribe  Terms of Service   |   Privacy Policy 150 Fifth Avenue, 8th Floor New York, NY 10011