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Extending the Circle of Trust with Confidential Computing – Infosecurity Magazine

The benefits of operational efficiency and flexibility delivered by public cloud resources have encouraged todays organizations to migrate applications and data to external computing platforms located outside the perceived security of on-premises infrastructures. Many businesses are now adopting a cloud-first design approach that emphasizes elastic scalability and cost reduction above ownership and management, and, in some cases, security.

Analyzing global trends in public cloud services, Gartner has predicted that spending on these resources will increase from $182.4B in 2018 to $331.2B in 2022, with 30 percent of all new software investments being cloud native by the end of 2019.

Trusting Someone Else to Guard Your Secrets

The benefits of third-party infrastructure and applications, however, come with risks. Deploying sensitive applications and data on computing platforms that are outside of an organizations owned and managed infrastructure requires trust in the service providers hardware and software used to process, and ultimately protect, that data.

Trusting a cloud provider can be disastrous for an organization financially and reputation-wise if they are the subject of a successful cyber-attack. In its Ninth Annual Cost of Cybercrime Study, Accenture reported that in 2018 the average cost of cyber-attacks involving either a malicious insider or the execution of malicious code was $3M per year, according to participants.

Confidential Computing

One response to the problem of the trustworthiness of the cloud when it comes to data protection has been the emergence of the Trusted Execution Environment (TEE), which has led to the concept of confidential computing. Industry leaders joined together to form the Confidential Computing Consortium (CCC) in October.

The Confidential Computing Consortium looks to address the security issues around data in use, enabling encrypted data to be processed in memory without exposing it to the rest of the system. This is the first industry-wide initiative by industry leaders to address data in use, since todays encryption security approaches mostly focus on data at rest or data in transit. The work of the Confidential Computing Consortium is especially important as companies move more workloads to multiple environments, including on premises, public cloud, hybrid, and edge environments.

Secure Enclaves

One of the most important technologies for addressing the problem of protecting data in use can be found in the form of secure enclaves, such as the protected memory regions established by Intel Software Guard Extensions (SGX). Secure enclaves allow applications to execute securely and be enforced at the hardware level by the CPU itself. All data is encrypted in memory and decrypted only while being used inside the CPU: the data remains completely protected, even if the operating system, hypervisor or root user is compromised. With secure enclaves, data can be fully protected across its entire lifecycle at rest, in motion and in use for the first time.

Secure enclaves can offer further security benefits using a process called attestation to verify that the CPU is genuine, and that the deployed application is the correct one and hasnt been altered.

Operating in secure enclaves with attestation gives users complete confidence that code is running as intended and that data is completely protected during processing. This approach is gaining traction, for example it enables sensitive applications, including data analytics, Machine Learning, and Artificial Intelligence, to run safely in the cloud with regulatory compliance.

Runtime Encryption

Encryption is a proven approach for effective data security, particularly when protecting data at rest and data in motion. However, as discussed above, a key requirement for confidential computing, and the focus of the Confidential Computing Consortium, is protecting data in use. When an application starts to run, its data is vulnerable to a variety of attacks, including malicious insiders, root users, credential compromise, OS zero-day, and network intruders.

Runtime encryption provides deterministic security with hardware-aided memory encryption for applications to protect data in use. Through optimization of the Trusted Computing Base (TCB), it enables encrypted data to be processed in memory without exposing it to the rest of the system.

This reduces the risks to sensitive data and provides greater control and transparency for users. Runtime encryption provides complete cryptographic protection for applications by running them securely inside a TEE and defending them even from root users and physical access to the server.

Expanding the Circle of Trust

The number one concern cited by enterprises in their move to the cloud continues to be security. Confidential computing and protecting data in use gives sensitive applications a safe place that protects them from todays infrastructure attacks.

Confidential computing is critical for protecting cloud data, and it is fundamentally helping establish and expand the circle of trust in cloud computing. It creates isolated runtime environments that allow execution of sensitive applications in a protected state, keeping cloud apps and data completely secure when in use.

With secure enclaves and runtime encryption supporting confidential computing, customers know that, no matter what happens, their data remains cryptographically protected. No amount of zero-day attacks, infrastructure compromises, and even government subpoenas can compromise the data. Confidential computing expands the deterministic security needed for the most sensitive cloud applications, at the performance level demanded by modern Internet-scale applications.

A Secure Cloud Future

As Gartner has reported, businesses are migrating their sensitive data and applications to public cloud services, a practice that saves them from ownership and maintenance of infrastructure that will inevitably be obsolete in the future.

Leading technology providers have recognized that confidential computing provides a security model ready to address the problems of untrusted hardware and software that have hampered this transition to the cloud.

With a growing number of use cases, and interest and deployments surging, confidential computing environments will be relied on to protect data in growing areas such as industry 4.0, digital health, the Internet of Things (IoT), and federated machine learning systems.

As the Confidential Computing Consortium continues its work, individuals and businesses may at some point expect a confidential computing architecture as a prerequisite for the exchange and processing of our private data.

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Cloud Computing Service Market Structure, Industry Inspection, and Forecast 2025 – Info Street Wire

The research study provided by UpMarketResearch on Global Cloud Computing Service Industry offers strategic assessment of the Cloud Computing Service market. The industry report focuses on the growth opportunities, which will help the market to expand operations in the existing markets.Next, in this report, you will find the competitive scenario of the major market players focusing on their sales revenue, customer demands, company profile, import/export scenario, business strategies that will help the emerging market segments in making major business decisions. The Global Cloud Computing Service Market contains the ability to become one of the most lucrative industries as factors related to this market such as raw material affluence, financial stability, technological development, trading policies, and increasing demand are boosting the market growth. Therefore, the market is expected to see higher growth in the near future and greater CAGR during the forecast period from 2019 to 2026.

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Major Players included in this report are as follows AmazonSalesforce.comVMwareSavvisRackspaceIBMDellCiscoDell EMCOracleNetSuiteMicrosoft

Cloud Computing Service Market can be segmented into Product Types as Software-as-a-ServicePlatform-as-a-ServiceInfrastructure-as-a-Service

Cloud Computing Service Market can be segmented into Applications as Private CloudsPublic CloudsHybrid Clouds

Cloud Computing Service Market: Regional analysis includes:Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)Europe (Turkey, Germany, Russia UK, Italy, France, etc.)North America (United States, Mexico, and Canada.)South America (Brazil etc.)The Middle East and Africa (GCC Countries and Egypt.)

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Key Highlights of This Report: The report covers Cloud Computing Service applications, market dynamics, and the study of emerging and existing market segments. It portrays market overview, product classification, applications, and market volume forecast from 2019-2026. It provides analysis on the industry chain scenario, key market players, market volume, upstream raw material details, production cost, and marketing channels. The growth opportunities, limitations to the market growth are identified using the SWOT analysis It conducts the feasibility study, explores the industry barriers, data sources and provides key research findings The report delivers analysis on consumption volume, region-wise import/export analysis and forecast market from 2019-2026.

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About UpMarketResearch:Up Market Research (https://www.upmarketresearch.com) is a leading distributor of market research report with more than 800+ global clients. As a market research company, we take pride in equipping our clients with insights and data that holds the power to truly make a difference to their business. Our mission is singular and well-defined we want to help our clients envisage their business environment so that they are able to make informed, strategic and therefore successful decisions for themselves.

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Tech stocks are poised to close out their best year in a decade, propelled by Apple and AMD – CNBC

Apple CEO Tim Cook arrives for Apples "The Morning Show" global premiere at Lincoln Center- David Geffen Hall on October 28, 2019 in New York.

Angela Weiss | AFP | Getty Images

Tech stocks are about to close out their best year since the rebound from the financial crisis.

With December winding down, the S&P 500 information technology index, consisting of 70 members, has gained 48% in 2019, marking the best year for the group since a 60% jump in 2009.

The difference a decade ago was that the tech index was coming off 2008, in which it plunged 44%, creating a buying opportunity and setting the stage for a so-called dead cat bounce.

This time around, tech stocks dipped just 1.6% in 2018 before rallying to new heights in 2019, suggesting that the latest surge is backed by the strengthening financial position of the companies in the group and optimism for the broader economy.

Leading the index this year were a bunch of semiconductor makers and chip equipment companies. And Apple.

Keep in mind, this index doesn't include internet companies, so the mega-cap FANG (Facebook, Amazon, Netflix, Google now Alphabet) stocks fall into different S&P 500 subgroups. Even so, among the FANG stocks, only Facebook has outperformed the tech index, while each of the others underperformed by at least 18 percentage points.

"The FANG trade did not work out this year," said Jake Dollarhide, CEO of Longbow Asset Management, which oversees $110 million in assets and is overweight tech stocks. "Other tech plays stepped up. A lot of it is consumer thirst for more and more mobile technology."

Chipmaker Advanced Micro Devices was the biggest gainer in the S&P tech index as of Thursday's close, climbing 153%, followed by semiconductor equipment manufacturer Lam Research's 117% gain. KLA, which also supplies the chip industry, rose 100%, and Qorvo, a supplier of radio frequency technology for iPhones, surged 94%. Apple was the eighth-best performer, gaining 84%, but because of its size, the iPhone maker was by far the top contributor to the index's gain.

Despite a saturated smartphone market and perpetual concern that the iPhone can't get any better or more powerful, Apple continues to lure consumers with new features and options and is reportedly preparing to offer models in 2020 that are both smaller and larger than those currently available. In October, Apple reported a 9% decline in iPhone sales, which marked an improvement over previous quarters, and CEO Tim Cook expressed optimism "about what the holiday quarter has in store."

In addition to bolstering the iPhone with cutting-edge camera technology, improved battery life and upgraded speakers, Apple has also created another fast-growth business: The wearables unit boosted sales by 50% from a year ago in the latest quarter, thanks to the popularity of the Apple Watch and AirPods.

Meanwhile, Apple avoided tariffs on its core products after President Donald Trump announced this month that the U.S. had reached a "phase one" trade deal with China.

That all works in favor of Apple suppliers like Qorvo, which counts on the iPhone maker for about one-third of its revenue. Chipmaker AMD provides graphics processors to some Apple iMacs and MacBook Pros. And Skyworks, which has jumped 82% this year for the ninth-best performance in the tech index, gets half its revenue selling mobile chips to Apple and its various contract manufacturers.

Micron, which provides memory technology to Apple, is the 14th-best gainer in the index, up 74%.

"This is an Apple world and we're just lucky enough to live in it," Dollarhide said.

In the chip equipment market, Lam and KLA are benefiting from a trend that includes Apple but extends to the wider explosion of mobile devices. As the world prepares for 5G high-speed networks, manufacturers are developing more connected devices, which means more microprocessors.

To meet that demand, large chipmakers like Intel, Samsung and Taiwan Semiconductor Manufacturing (TSMC) are boosting their spending on equipment from top suppliers.

Lam and KLA had agreed to merge in 2015 in a $10.6 billion deal, but they canceled their plans amid antitrust concerns. Lam is now closing out its best year since 2003, and KLA is enjoying its biggest annual rally since 1999.

"We are likely entering a decade+ expansionary period in the semiconductor industry as compute applications grow beyond PCs, phones, and tablets," wrote Weston Twigg, an analyst at KeyBanc Capital Markets, in a report last month on Lam. He recommends buying the stock. "The ramp of 5G should enable more connected devices and a meaningful ramp in edge compute."

Outside of consumer gadgets, the S&P tech group has reaped the benefits of the ongoing movement to the cloud.

Microsoft CEO Satya Nadella at the Fast Company Innovation Festival in New York on November 7, 2019.

Brad Barket | Getty Images for Fast Company

Microsoft, spurred by growth in its Azure cloud infrastructure and Office 365 applications, has climbed 56% this year, propelling the company to a $1.2 trillion market cap, second only to Apple ($1.29 trillion) among U.S. companies.

Adobe and Autodesk, two companies that have transitioned in recent years from traditional packaged software to the cloud, are each up more than 43%, while ServiceNow, a provider of cloud IT services that just joined the S&P 500 last month, is up 61%.

DXC Technology is the biggest decliner in the index and is showing how difficult it is for some businesses to adapt to the cloud computing wave. The company, established two years ago through the combination of Hewlett-Packard's enterprise services unit with Computer Sciences Corp., is down 30% this year, after suffering a plunge of that size on a single day in August. In reporting quarterly earnings, DXC provided a disappointing sales and earnings forecast, which reflected a deterioration in the company's outsourcing business and the "stranded costs" from the legacy way of doing business in traditional data centers.

But only seven of the index's 70 members are poised to end the year in the red. Heading into 2020, the pressure is on to deliver results, particularly for the highest-growth companies.

The index had a price-to-sales ratio of 5, the highest since 2000, according to FactSet. Apple is trading at a historically high multiple to earnings, and Microsoft is expensive relative to its average over the last few years.

Given uncertainties surrounding trade with China, the global economy and the election in November, tech bulls will see next year whether the industry's momentum can withstand all the macro headwinds.

WATCH: AMC CEO talks about going after 'secular growth' in high-performance computing

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Heres How to Prepare for Bitcoins Annual Birthday Bank Run – newsBTC

This year will see the second annual Proof of Keys event take place. Those involved will be attempting to demonstrate the monetary sovereignty Bitcoin affords, as well as the solvency (or lack there of it) of cryptocurrency exchange platforms.

If youre new to the Bitcoin space, you might not have heard of Proof of Keys before. Heres a quick lowdown on the event and everything you need to know to take part.

Bitcoin, and other blockchain-based digital assets, are very different to either traditional currencies or the payment networks that their users rely on. One of the most striking differences is that you do not need the permission of any central authority to use the networks to transfer value.

Unfortunately, a lot of people miss out on this potentially revolutionary quality, mostly through laziness. Instead of taking responsibility for the storage of their Bitcoin themselves, they entrust a centralised third party to do it for them.

After buying Bitcoin, Ether, or Litecoin from an exchange, many investors will leave the funds at the trading venue. This is a problem for a couple of reasons. Firstly, the exchange must permission all transactions from it. Secondly, it allows the venues themselves to run on a fractional reserve system (only keeping a small float of crypto assets and hoping that everyone doesnt want to withdraw all their funds at once). Exchanges say they dont do this, of course, but the lack of regulation in the industry makes it difficult to check. Finally, by encouraging folks to learn about correct storage of digital currencies, more people might opt to take control of their wealth themselves on a full time basis. By doing so, they will also reduce the potential honeypot that exchanges represent to hackers.

In an effort to promote the monetary sovereignty that Bitcoin can afford, early cryptocurrency proponent and founder of the Bitcoin Knowledge podcast Trace Mayer came up with the Proof of Keys event. The idea is simple to encourage as many individuals to withdraw their entire exchange balance to a wallet that they fully control. The debut of Proof of Keys was on the anniversary of the Bitcoin Genesis Block (first ever block mined) last year and Mayer plans to promote the bank run of sorts every year going forward.

If you currently hold any amount of digital currency on an exchange platform, you can take part in the Proof of Keys event. Doing so is very simple too. Just download a recommended, open-source, non-custodial wallet for the cryptocurrency in question and withdraw your entire balance to it before January 3rd. You then need to keep it off the exchange for the entire day. If youre not sure what a non-custodial wallet is, check to see if your chosen storage method shows you a private key or mnemonic seed phrase. If it does, youre in business. This key or seed phrase is all that you need to transact with Bitcoin or other cryptos without permission from any other entity.

Related Reading: Intense Altcoin Sell-Off May Mean a Bitcoin Pullback is Imminent

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Bitcoin Price Prediction: BTC/USD directionless ahead of New Year Confluence Detector – FXStreet

BTC/USD has been moving to and fro in a tight range amid low trading activity. Many traders are off for a holiday season, which makes the market vulnerable to sharp movements; however, no sharp movements have been registered so far. At the time of writing, BTC/USD is changing hands at $7,180, mostly unchanged both on a day-to-day basis and since the beginning of Friday. Bitcoin's market dominance settled at 68.7% as many altcoins failed to recover to the levels that preceded the sell-off.

From the technical point of view, the coin may be vulnerable to range-bound trading until we pass the New Year borderline. Strong technical barriers are located above the current price, which means the downside is the path of least resistance for now. Let's have a closer look at them.

$7,200 - $7,230 - a host of short-term SMA (Simple Moving Average) levels, SMA5, SAM10, SMA50 on 1-hour, SMA10 and SMA5 on 4-hour chart, the middle lines of the Bollinger Bands on a daily, 1-hour and 4-hour charts, SMA200 1-hour and 4-hour, SMA50 4-hour, 23.6% Fibo retracement weekly and monthly$7,600 - the upper line of the daily Bollinger Band, Pivot Point 1-day Resistance 1$7,700 - SMA50 daily, 38.2 Fibo retracement monthly

$7,000 - 161.8% Fibo projections daily, Pivot Point 1-day Support 2$6,800 - the lower line of the daily Bollinger Band, Pivot Point 1-day Support 3$6,550 - the lowest level of the previous month.

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Bitcoin Is the Only Asset Class in the World That Is Not Rallying: Peter Schiff – U.Today

Euro Pacific Capital CEO Peter Schiff decided to damped the festive mood of the crypto community by pointing to the fact that Bitcoin is the only asset class that is not rallying at the moment.

Schiff made an acrimonious remark that Bitcoin had finally become an uncorrelated asset, something that its proponents like to celebrate. However, this time around, Bitcoin remains on the sidelines while other asset classes are flourishing.

The NASDAQ Composite, a widely tracked stock market index, breached the 9,000 points mark for the first time in history on Dec. 27.

Meanwhile, gold, the beloved asset of Schiff, has also been on a roll for the past few days. The price of the shiny metal has recently hit its seven-week high, surpassing $1,515.

While stocks and gold continue to surge, the price action of Bitcoin remains uneventful. In the span of a week, the bulls have made several attempts to push the price higher but they were brutally rejected. At press time, BTC continues toplateau in the $7,200 region, CoinStats data shows.

However, Schiff is definitely missing the forest for the trees in his latest tweet. Despite Bitcoin's lackluster performance in late 2019, it is still up by about 90 percent on the year, trumping every traditional asset class.

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Bitcoin mining mostly uses energy that otherwise wouldnt be spent – AMBCrypto

On the most recent episode of the Bitcoin & Co. podcast, Jan Capek and Pavel Moravec, CEOs and co-founders Braiins, the company operating the worlds first Bitcoin mining pool, Slush Pool, joined host Anita Posch to talk about Bitcoin mining, what it affects and what affects it.

When asked about the energy cost of Bitcoin mining, Capek and Moravec explained how it is inevitable because proof-of-work is probably currently the best way to reach a decentralized way of consensus.

People dont look at the energy spent as something that provides us value, but it actually provides large value it makes Bitcoin.

They added that while it is a heated topic, the lack of a better alternative leaves miners with no other options. Further, they said that this pushes miners to find the cheapest electricity prices in the world, ending up in places where there is no other way to spend the electricity, which tends to be renewable because its cheaper to make it.

If you look at the complete electricity bill, for the whole Bitcoin network, a large part of it is just the energy which would not be used for anything else.

They also explained how today, there are not too many ways to store energy, and that though batteries could theoretically be used, they are economically unfeasible. According to the pair, Bitcoin looks like an interesting alternative to storing this energy which cannot be used in any other way.

The Braiins co-founders also spoke about the relation between electricity prices and Bitcoin value, stating that they are only related in the sense that both directly influence how much hashrate is connected to the network.

Some people argue that the hashrate is following the price, others argue that price is following the hashrate. There is probably truth somewhere in the middle.

Subsequently, Capek and Moravec spoke about how the electricity price used by the biggest miners is much lower than what a normal person can easily achieve, making them much more profitable and pushing the difficulty of mining higher. This makes it very difficult for normal users to profit through mining, as the miners with the highest electricity prices are pushed out of the zone of profitable mining.

Somebody could do it as, for example, a heater, because the electricity would be spent either way, so having a miner producing heat and mining during the process is a nice contribution. But making a major difference in the mining world for normal users is basically impossible today.

However, the pair agreed that larger mining farms were not contributing to centralization of the network. According to them, centralization would only occur if several of the largest farms were owned by a single entity and if mining hardware manufacturing was controlled by a centralized authority.

What we need for centralization is to have different mining hardware manufacturers, so they are competing against each other and selling the machines to independent mining farm owners.

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The $3 Bilion Bitcoin Dump Isnt Going to Happen – newsBTC

At the heights of last years so-called hash war, Bitcoin SV founder Craig Wright had threatened to crash rival cryptocurrency bitcoin to $1,000.

The threat itself came from the claim that Mr. Wright is Satoshi Nakamoto, the pseudonymous creator of bitcoin and that he holds billions of dollars worth of the benchmark cryptocurrency. Mr. Wright even sued people who refused to acknowledge him as the original bitcoin creator.

But the clock turned when he himself got sued for being 50 percent Satoshi. Ira Kleiman, brother of late Dave Kleiman who allegedly helped Mr. Wright mint the first batch of bitcoin, accused him of stealing Daves share of 1 million BTC.

The US court found Mr. Wright guilty. It ordered him to pay half of the BTC valued about $5 billion at the time of judgment back to Mr. Ira. Mr. Wright told the court that he and Late Mr. Dave had locked that bitcoin in a complicated trust. He said he could not retrieve the cryptocurrency anymore.

However, in an interview he gave later to Modern Consensus, Mr. Wright kept theorizing what Mr. Ira could do if he gains access to 1 million BTC.

They might have to convince Ira not to dump it, he told the interviewer. I cant convince him not to dump it. Ira has to do what Ira has to do. And it wouldnt have been me. And I dont need it. He does.

Mr. Wright never refuted the existence of the trust that apparently holds 1.1 million BTC. Nevertheless, he is adamant about not having any access to the private keys to those coins.

With a court order hanging by his neck, the market doubts that Mr. Wright might sell whatever bitcoin he currently holds (supposedly a large amount). He proclaimed after the courts ruling against him that Mr. Ira alone could tank the bitcoin market by $2-3 billion.

If youd left me alone, I would have sat on my f*cking money and you wouldnt have to worry, Mr. Wright said. And the biggest whale ever has to dump because he has to pay tax. Its not a transfer. Florida has an estate tax. Trust me. This is not an outcome I would have liked.

But to this date, Mr. Wright has not paid a penny to either Mr. Ira nor his legal counsels as ordered by the US court. In the last hearing held on December 18, Mr. Wrights lawyers played offense with Mr. Ira, questioning how he managed to pay $400,000 in cash for his home right after his brothers demise.

When Mr. Wright threatened to crash Bitcoin to $1,000 in November 2018, it appeared as he had a huge stash of the cryptocurrency. But since the court ruling, he is not making such threats.

In his latest interview with Bloomberg, Mr. Wright said he does not want to dump his Bitcoin fortune because the move would hurt many people in the industry.

The sum of all events leaves the market with two potential outcomes: Either Mr. Wright has about $3 billion worth of Bitcoin or he doesnt. If the controversial Satoshi has the money, he is bluffing about not having them. And if he does not have the money, he is straightforwardly lying.

The conclusion narrows down to one thing: that $3 billion-dump is not going to happen, after all. One bear at a time!

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Early Bitcoin Adopter Throws Cold Water On Halving Narrative; Heres Why – newsBTC

As NewsBTC has covered over the past few weeks, a debate has erupted around Bitcoins impending block reward reduction. Informally known as the halving or the halvening, every four years the number of BTC issued per block (every 10 minutes or so) gets cut in half, resulting in a negative supply shock on the market.

Analysts are currently divided over whether or not it will affect the underlying BTC price in a positive way we just published another report on why the halving isnt priced in from a derivatives perspective.

While bulls have a good argument due to the Stock to Flow model popularized by pseudonymous quantitative analyst PlanB, a prominent early Bitcoin adopter recently came out in the side of bears, arguing that the halving will not help BTC investors.

Roger Ver, an early Bitcoin evangelist who invested in Blockchain.com, Bitcoin.com, BitPay, amongst other crypto companies, recently remarked that he sees a very real possibility the price of Bitcoin Core (BTC) does not go up after the halving. This comment was made echoing a remark made by Melem Demirors of CoinShares, who cited financial derivatives as a potential dampener on the positive effects of the halving.

The now Japan-based Ver, trying to build out his own thesis on the matter, remarked that he thinks the price wont up because the blocks are full and there is no room for additional commerce to take place on chain. With this, he is seemingly referring to the sentiment that the economic activity of a chain will affect the price of the asset that is based on top of it.

Vers latest comments on the Bitcoin halving come shortly after he remarked in two mainstream media interviews that he expects for BCH to rapidly appreciate against BTC.

Per previous reports from NewsBTC, the cryptocurrency entrepreneur and investor told CNBC in an interview that he thinks the market capitalization of Bitcoin Cash is poised to appreciate by over a thousands of times where it currently is because its looking to become peer to peer electronic cash for the entire world. For some context, BCH would be trading $191,000 apiece if it was trading 1,000 times higher than what it is trading at now.

He doubled down on this opinion in an interview with Forbes, saying that he expects for BCHs market capitalization to supplant that of BTC:

Bitcoin.com is partnering with more household names to bring BCH usage to actual commerce for real people and real businesses. As that adoption of BCH-based commerce grows, so will its market cap.

While Ver has belief in this sentiment, not everyone is convinced that Bitcoin Cash will outperform BTC by that much, if at all.

In the wake of his aforementioned interview on CNBC, the crypto community erupted, pledging not to take Vers rhetoric lying down. Dan Hedl, a long-time Bitcoiner and industry executive/entrepreneur,wroteon Twitter:

Hey @JoeSquawk whats up with this reporting on bcash by CNBC? Roger is saying factually incorrect information about adoption and identity.

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Bitcoin Gained 8.9 Million Percent Over the Last Decade – Bitcoin News

2020 is fast approaching and the last decade will be behind us. Throughout the last ten years, the biggest unicorn firms were born like Uber and Airbnb. However, even though Bitcoin isnt a company, the best investment of the decade belongs to the decentralized cryptocurrency Satoshi created. In fact, Bank of Americas recent securities report highlights that an investment of $1 in bitcoin at the start of 2010 would now be worth more than $90,000.

Also read: Regulatory Roundup New US Crypto Bill, Frances 1st Approved ICO, Muslim Crypto

This week, a great number of people are reminiscing about the last ten years and a slew of individuals understand that the advent of Bitcoin was quite significant during this period of time. The most valuable startup of the last decade didnt raise money, didnt have employees, gave away the cap table, and let anyone invest, said the popular philosopher Naval Ravikant. Besides Ravikants opinion, theres data that shows bitcoin was the best investment during the last decade.

Bank of Americas recent securities paper explains that between 2010 and 2020, oil has weakened and negative interest rates have been good for gold markets. But if a person invested $1 in bitcoin in 2010, it would be worth well over $90k today, BoAs report underlined. Because of bitcoins great performance record, the decentralized asset has surpassed every investment vehicle in the last ten years.

Now lets just say someone followed gold bug Peter Schiffs advice and invested in gold in 2010, which was trading for $1,113 per Troy ounce at the years open. Ten years later, gold has done well for itself touching a high of $1,542 per ounce and thats a fairly decent +38% gain. In the last decade bitcoin, however, has gained a whopping +8,999,900% and this year alone, BTC has outpaced golds market performance in the last ten years. In 2019, BTC has gained +96% compared to golds +10.8% increase.

Besides precious metals, if Bitcoin was a company it also outpaced investments in the most profitable unicorn businesses created in the last decade. Profitable startups throughout 2010 and 2020 include Uber, Facebook, Airbnb, Snapchat, Spacex, Tesla, and Pinterest but an investment in bitcoin surpasses all these public stocks by a long shot. For example, if you compare the +8.9 million percent BTC gain to investments in Netflix (+4,177%), Amazon (+1,787%), Apple (+966%), Microsoft (+556%), Disney (+423%) and Google (+335%), numbers show there is no comparison. The angel investor and former CTO of Coinbase, Balaji Srinivasan, recently explained his thoughts about the cryptocurrency revolution during the last decade compared to the decades unicorn firms.

As the decade ends, the biggest unicorn of the 2010s wasnt Uber, Airbnb, or Snap It was Bitcoin, Srinivasan tweeted. Please note that all three of these [companies] and many other unicorns are great companies I take nothing away from them. But to my knowledge, nothing else founded in the same timeframe held at $100 billion for a longer time. Srinivasan added:

From an investor standpoint, this is important to know.

A number of crypto proponents agree with Srinivasan and Ravikants statements about cryptocurrencies throughout the last ten years and the subject is often discussed on forums and social media. Replying to Srinivasans tweet, former Bitcoin Foundation director Bruce Fenton said:

[Bitcoin did all of this] without a centralized marketing fund, no salespeople, no roadshow people pitching sovereign wealth funds or family offices and no fundraise or premine.

Even though the digital asset was the best investment of the decade, it also provided significant innovation, financial disruption, and changed the way people perceive money. People can bypass corporations, financial institutions, and governments in a censorship-resistant fashion like never before. Its safe to say that cryptocurrency innovation will make the next ten years quite revolutionary.

What do you think about how bitcoin is the best investment in the last decade? Let us know what you think about this subject in the comments section below.

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Image credits: Shutterstock, Twitter, Moneymorning.com, Pixabay, Fair Use, and Wiki Commons.

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Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

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Bitcoin Gained 8.9 Million Percent Over the Last Decade - Bitcoin News

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