Vanguard’s $1.3 Trillion Blockchain Makes Bundesbank Look Foolish

Vanguard’s $1.3 Trillion Blockchain Makes Bundesbank Look Foolish 1  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN: Vanguard, the world’s largest provider of mutual funds, is using blockchain to power their enterprise. The investing giant, which popularized mutual funds and exchange-traded funds (ETFs) for the common investor, has been using distributed ledger technology to manage $1.3 trillion worth of index funds, Forbes reports. Vanguard’s Blockchain Manages More Than $1 Trillion in Assets Since February, Vanguard has used blockchain to manage financial data for one-quarter of its assets, valued at $1.3 trillion. More than just a one-off trial, the service is operating live for millions of…

Elon Musk's SpaceX, With a $33.3B Valuation, Is About to Eclipse Tesla

Elon Musk's SpaceX, With a $33.3B Valuation, Is About to Eclipse Tesla 2  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN: As markets close Friday, Elon Musk’s aerospace venture SpaceX is poised to eclipse his car company Tesla in market value for the first time. Tesla’s stock is trading down 1.5% at press time with a $33.01 billion market cap attached. According to CNBC, SpaceX is valued at $33.3 billion. Additionally, SpaceX will be worth more than Tesla for the first time if $TSLA closes below $188.38 per share.https://t.co/BnRApsCBQa pic.twitter.com/Ncp0Dc3lkb — Michael Sheetz (@thesheetztweetz) May 31, 2019 SpaceX boasts an updated market valuation after a recent fundraising round. CNBC’s…

Wall Street’s Bitcoin King Defends Crypto Against CNBC FUD

Wall Street’s Bitcoin King Defends Crypto Against CNBC FUD 3  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN: CNBC in a recent interview shot a string of arrows seemingly to burst the so-called bitcoin price bubble. Nonetheless, the cryptocurrency emerged unharmed thanks to Bart Smith. The digital asset head of Susquehanna International Group, a Pennsylvania-based trading firm, appeared on Squawk Box to discuss what possibly drove bitcoin up 145% year-to-date. While admitting that it was difficult to narrow down a price rally into specific factors, Smith hinted that the root of bitcoin’s exceptional performance in 2019 maximally lied in one thing: optimism. He said: “There is…

Tesla Sued For Embarrassing Unpaid $1.77 Million Bill; Stock Rewinds to 2016

Tesla Sued For Embarrassing Unpaid $1.77 Million Bill; Stock Rewinds to 2016 4  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN: The embarrassment for Tesla continued this week after a burned supplier sued Elon Musk’s firm over an unpaid metal bill. French firm Lebronze Alloys alleges $1.77 is still owed by Tesla after the car company abruptly pulled the plug on existing contracts. Lebronze had supplied parts for Musk’s electric vehicles since 2016 – the last time the Tesla stock price sunk as low as it is today. Back to Beginning for Tesla Stock When Tesla entered into an agreement with Lebronze Alloys in 2016, its stock had traded…

‘Mario of the Blockchain’ CryptoKitties Has Yet to Gain Wide-Scale Usage

'Mario of the Blockchain' CryptoKitties Has Yet to Gain Wide-Scale Usage 6  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

 By CCN: CryptoKitties, a smart contract-fueled decentralized app (dApp) built on the Ethereum blockchain, was supposed to be the one to jumpstart mainstream adoption of crypto. You know, kind of like the Mario Bros of crypto, but instead of Luigi and Mario, there are digital cats. After all, it was the app to clog the Ethereum blockchain, causing a bottleneck from the game’s popularity that slowed transactions to a snail’s pace. Nonetheless, the crypto ecosystem is still waiting for that one ‘killer app’ now that CryptoKitties and other promising dApps…

Bundesbank Ridicules Blockchain: Not a ‘Breakthrough’ Technology

Bundesbank Ridicules Blockchain: Not a 'Breakthrough' Technology 7  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN: The president of Bundesbank – Germany’s central bank –  is not impressed by blockchain, despite the technology experiencing increased adoption in other sectors. German Central Bank: Blockchain Slow & Expensive According to statements made in Frankfurt on May 29, Bundesbank President Jens Weidmann claimed that a trial project to integrate blockchain failed miserably. As opposed to improving the bank’s operations, blockchain was slower and more costly, leading the president to conclude the technology failed to bring a “breakthrough” to the banking industry. Germany’s central bank ridiculed blockchain proponents’…

‘Bitcoin MegaCity’ Fraud Lands Nevada Promoter 21-Months in Jail

‘Bitcoin MegaCity’ Fraud Lands Nevada Promoter 21-Months in Jail 8  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN: A Nevadan who has been accused of wire fraud as well as operating an unlicensed money transmitting service using bitcoin has been sentenced to nearly two years in prison. Morgan Rocknoons, who also goes by the name Morgan Rockwell, had earlier pleaded guilty to both charges. Besides spending 21 months in jail, will also have to forfeit profits amounting to $80,600 that he generated illicitly. The profits are linked to wire fraud related to land. Per the sentencing memorandum, Morgan defrauded individuals by selling land he didn’t own.…

Cryptopia Turns to a U.S. Court for Account Holder Data Protection

Cryptopia Turns to a U.S. Court for Account Holder Data Protection 9  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

In the latest development over its security breach, cryptocurrency exchange Cryptopia has filed for bankruptcy protection in the U.S. The New Zealand-based exchange, which has been dealing with the fallout of a January 2019 hack, went into liquidation and stopped all trading earlier this month. Cryptopia’s assigned liquidator, Grant Thornton, then petitioned the Southern District of New York’s bankruptcy court to seek recognition of this liquidation and protect exchange data stored on servers by a firm in Arizona. Per a report from Bloomberg, the unnamed firm had terminated its agreement…

Tippin Enters Version 1.0, Promising New Feature

Tippin Enters Version 1.0, Promising New Feature 10  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Lightning Network app Tippin.me has released a version 1.0 update, which includes a host of new features and promotional measures intended to increase the user base and improve the user experience. Originally launched in December 2018, Tippin was introduced as a novel way to use the Lightning Network to make micropayments easily accessible for a wide range of users by allowing them to send and receive tips over the Lightning Network on Twitter. Originally a custodial wallet solution, the app is particularly noteworthy in that it is the work of…

Hotshot Silicon Valley Investor Predicts Bitcoin Price Plunging Under $500

Hotshot Silicon Valley Investor Predicts Bitcoin Price Plunging Under $500 11  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN: Jason Calacanis, a prominent Silicon Valley investor who has helped companies such as Uber and Robinhood to secure multi-billion dollar valuations, has said the bitcoin price is likely to drop to $0 to $500 in the long-term. “My position remains the same. Bitcoin will likely be replaced by a new technology & it’s manipulated It’s possible it’s built to last, but not probable, so keep your position to an amount you’re willing to loose. For most, that’s 1-5% of net worth. It will likely go to 0-$500,” Calacanis…