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Bitcoin Price Index – Real-time Bitcoin Price Charts

Bitcoin Exchange Coincheck Unveils $450k Startup Investment Fund

Aug 10, 2017 at 19:30 | Wolfie Zhao

Tokyo-based cryptocurrency exchange Coincheck is launching a new investment fund.

Aug 10, 2017 at 12:00 | Ash Bennington

A new fund launched by a prominent trader aims to offer U.S. investors broad exposure to the fast developing cryptocurrency asset class.

Aug 9, 2017 at 23:05 | Stan Higgins

Analysts at Goldman Sachs are advising clients to stay abreast of developments in the cryptocurrency sector even if they don't plan on investing.

Aug 9, 2017 at 21:05 | Ash Bennington

How is bitcoin's recent fork affecting price forecasts? According to bitcoin traders, the weather ahead looks unexpectedly sunny.

Aug 9, 2017 at 20:00 | Wolfie Zhao

European cryptocurrency exchange Bitstamp will launch new trading pairs for ether next week.

Aug 9, 2017 at 14:30 | Pete Rizzo

Litecoin continues to hover near all-time highs a move that suggests it could be developing staying power in a diversified crypto market.

Aug 9, 2017 at 13:00 | Stan Higgins

Bitcoin exchange BTC-e has said it will return under a new name and issue a token to refund users after it was closed by U.S. authorities.

Aug 9, 2017 at 05:00 | Ash Bennington

Fidelity Labs is partnering with Coinbase to enable its customers to track their bitcoin holdings alongside traditional investments.

Aug 9, 2017 at 02:50 | Pete Rizzo

The price of ether increased today, topping $300 for the first time since June amidst a broader appreciation of the cyrptocurrency asse

Aug 7, 2017 at 20:30 | Wolfie Zhao

Online retailer Overstock.com is shifting an earlier strategy by keeping half of the bitcoin it takes in as payment, the company's CEO has said.

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Fundstrat’s Tom Lee" Bitcoin will be the best asset through year-end – CNBC

Bitcoin will likely outperform stocks and bonds the rest of the year, according to the first major Wall Street strategist to issue a report on the digital currency.

"I think bitcoin is an underowned asset with potential for huge institutional sponsorship coming," Fundstrat co-founder Tom Lee said Wednesday on CNBC's "Fast Money."

"It has a lot of characteristics that are very similar to gold that I think will make it ultimately attractive as an alternate currency," he said. "It's a good store of value."

Here's Lee's outlook on bitcoin given on the show into year-end:

Gold or bitcoin? Bitcoin?

"Yes."

Would you rather own bitcoin versus a basket of U.S. stocks?

"Between now and year end it's easily bitcoin."

Will bitcoin be the best performing asset?

"Yes."

Bitcoin leaped to record highs this week above $3,500, more than tripling in value for the year despite a split in the currency last week into bitcoin and bitcoin cash, an alternative version supported by a minority of developers.

Bitcoin traded 1.5 percent higher near $3,428 Thursday morning, according to CoinDesk. Bitcoin cash steadied after wild swings in its first week, trading near $303, according to CoinMarketCap.

Another digital currency, ethereum, rose 1 percent to just under $300, according to CoinDesk.

Bitcoin three-month performance

Source: CoinDesk

Lee published a report in early July outlining the potential for bitcoin to rise above $20,000 and potentially reach $55,000 by 2022. Formerly the top stock strategist at JPMorgan and a perennial favorite of big institutional investors, Lee was also one of the few on Wall Street to predict that a Donald Trump win in last year's election would cause stocks to rally, not fall like most had seen.

Lee sees another reason for optimism about bitcoin.

"Institutions have to directly buy the coin today through a broker, but both the CBOE and the CFTC have opened up options futures trading, so I think it's going to grow in holdings," he told CNBC.

In the last month, the Chicago Board Options Exchange said it plans to offer bitcoin futures by early next year, while the U.S. Commodity Futures Trading Commission approved a digital currency trading firm called LedgerX to clear derivatives.

Market strategists have noted there are few highly attractive investment opportunities with U.S. stocks at all-time highs and bonds steady as the Federal Reserve remains on a gradual pace of monetary policy tightening and gold in a trading range.

The median S&P 500 target of strategists surveyed by CNBC is 2,475, just a point above where the stock index closed Wednesday. Lee happens to be the most bearish among those strategists with a year-end target of 2,275, or 8 percent below Wednesday's close.

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$5000 Bitcoin? 3 Reasons to Buyand to Stay Away – Fortune

Bitcoin has gone on bull runs before but nothing like this: Prices this week shot through the $3,500 mark as the mainstream media hailed digital currency as a new asset class. Then it got another boost as the blue chip brokerage house, Fidelity, allowed its customers to create bitcoin accounts.

Now, some people are calling for it go even higher. As Quartz reports, a Standpoint Research analyst has called a target of $5000 for bitcoin by 2018. This raises the question of whether ordinary investors should put a smidgen of their savings, or even their retirement accounts, into buying bitcoin. (Keep in mind you don't have to buy a whole bitcoin. Since it's digital, you can buy a hundred millionth of onethis tiny unit is called a Satoshi after bitcoin's creator.)

There are strong arguments to buyand also strong ones to stay the heck away. Here are three of each.

Major investors and the financial industry is taking it seriously

Since its creation in 2008, Bitcoin's biggest boosters have been computer geeks and libertarians. But recently, they've been joined by a growing number of mainstream investors and entrepreneurs who see bitcoinand other digital currenciesas a legitimate asset class such as stocks, bonds, or commodities.

In 2017 alone, famous names like Andreessen Horowitz and Sequoia Capital have bet on hedge funds that are investing hundreds of millions of dollars into digital currency funds. Meanwhile, the financial infrastructure to support bitcoin and other digital currency is maturing rapidly: Coinbase's GDAX exchange has supported margin trading since March, while the Commodity Future Trading Commission just gave the green light for firms to sell digital currency options and other derivatives.

There is only a limited amount of bitcoin

One reason to buy bitcoins are a valuable asset is that only 21 million of them will ever come into the worldand most of them are already here. As those familiar with bitcoin know, the number of coins created by the mining process drops by half every few years. Right now, around 80% of all bitcoins are already mined and no new ones will appear after the year 2040. This scarcity could continue to drive up demand, especially if (as has been rumored), central banks decide to start buying them as foreign currency reserves.

Some see bitcoin as the new gold

So-called gold bugs like to own the precious metal because it is an asset whose value is not controlled by governments. Even if a country is ravaged by war or its profligate central bank prints too much money, the value of gold (unlike the national currency) will remain. Bitcoin has many of the same qualities. It exists on a decentralized computer network that transcends national borders, and there is no Federal Reserve-like authority that can devalue it.

This isn't a definitive reason to buy bitcoin any more than it is to buy gold. But an analyst cited by Quartz predicts the gold bugs will become bitcoin bugs instead, which means a lot of money flowing into the digital currency.

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Bitcoin's core users are still criminals and fringe figures

For years, stores like Overstock and Subway have accepted bitcoin as payment alongside cash and credit cards. But despite the promise of true believers that bitcoin could replace cash one day, there is no evidence this will happen. The reality is bitcoin is too slow compared to visa or debit cards, and transaction fees are rising. Right now, you can pay a fee and wait ten minutes for your bitcoin transaction to clearor swipe a credit card to pay instantly and get a cash reward.

Because of these limitations, bitcoin's core use remains what's it's always been: paying for drugs or extortion fees on the Internet. For instance, the cyber-criminals who launched a recent wave of "ransomware" attacks known as WannaCry asked for payment in bitcoin.

Ordinary consumers, meanwhile, are not using it as a payment method. That doesn't mean its not valuable as an investmentjust that, in the real world, it's even less useful than gold.

Bitcoin is extremely volatile

Over its nearly decade-long history, bitcoin has been prone to spectacular crashes. In 2013, for instance, the currency went on a run to over $1,100 only to tank to $700 a few months later, and then bottom out near $200 in early 2015. There is no reason this couldn't happen again.

While investors may drool at $5,000 bitcoin, they better be equally ready to kick themselves if it tumbles back to $2,000 or lower this year. This goes double for the many other so-called alt-currencies (other digital currencies some people buy as a proxy investment for bitcoin.)

Bitcoin only exists on computers

This may sound obvious but, as a form of money, bitcoin might be the most intangible stuff in history. Even paper money or securities can be presented to a central bank or company in the hopes someone will redeem them. No such possibility with bitcoin. Digital currency is just a piece of code out there on the Internet (or in special digital storage vaults to prevent hackers from stealing it), and there is no country or company you can ask to honor it.

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Howard Marks, who has called past market bubbles, says ‘I don’t understand what’s behind bitcoin’ – CNBC

Bitcoin has gotten a lot of fanfare lately, but not from Howard Marks, a legendary value investor on Wall Street.

Marks told CNBC's "Halftime Report" on Thursday that's because he doesn't understand what is the actual value of bitcoin.

"It's not a medium of exchange, it's a medium of trading, so I can't see any intrinsic value," Marks said. "I don't understand what's behind bitcoin."

"For me, there is only one kind of investing: When you look at something, you don't think, 'Is it going up or down tomorrow?' ... You say, 'What is the intrinsic value?' and then you say, 'Can I buy it for less?'" Marks added. "There is no intrinsic value in bitcoin."

Bitcoin has surged nearly 250 percent this year alone, prompting many to hop on the cryptocurrency's bandwagon.

Bitcoin in 2017

Source: Coindesk.com.

Fundstrat co-founder Tom Lee told CNBC's "Fast Money" on Wednesday he thinks the cryptocurrency will be the best-performing asset class through year-end. Investing legend Bill Miller reportedly owns bitcoin, and Josh Brown, CEO of Ritholtz Wealth Management, said last month he used Coinbase to buy bitcoin.

"Maybe I'm just too old and too much of a dinosaur to understand bitcoin," Marks said jokingly.

The co-chairman of Oaktree Capital is widely known for his investment memos, which predicted the financial crisis and the dot-com bubble implosion.

In a memo last month Marks compared cryptocurrencies with the Tulip mania of 1637, the South Sea bubble of 1720 and the internet bubble of 1999.

With reporting by Tae Kim.

Disclosure: Josh Brown is a CNBC contributor.

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Howard Marks, who has called past market bubbles, says 'I don't understand what's behind bitcoin' - CNBC

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Commerzbank’s Curious Way to Get Bitcoin Exposure Without Actually Buying It – Bloomberg

Want to own bitcoin, but too embarrassed to tell your friends youve eschewed traditional assets for a currency with a checkered past as an illicit means of exchange? Too thrifty to buy a bitcoin fund that typically trades at a substantial premium to its net asset value?

Commerzbank AG may have a solution for you -- though it doesnt appear to be a very efficacious one.

The firm is marketing a structured note that allows investors "to get exposure to bitcoin without actually investing in it directly." The underlying basket consists of an equal-weighted shares of Shopify Inc., DISH Network Corp. and Microsoft Corp.

These companies are "all active in blockchain technology" -- according to the product summary for non-U.S. customers. The common thread tying these firms to bitcoin: They facilitate transactions in the digital currency.

The catch is that none of the stocks have displayed anything resembling a meaningfully strong relationship with bitcoins price movements during the past three years. The 63-session correlation between the daily change in the digital currency and any of those equities has never exceeded 0.35. A correlation closer to one suggests something trades in lockstep with another.

A spokeswoman for Commerzbank declined to comment.

Surprisingly, chipmakers like Nvidia Corp. and Advanced Micro Devices Inc., which have seen demand for their graphics cards buoyed by rising interest in mining cryptocurrencies, arent included in this basket.

"Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a new high value of about $2,700," the Aug. 7 client recommendation says. "With bitcoin hitting record high prices recently, there are other ways of investing in the cryptocurrency and the technology behind it without buying it outright."

If only this were one of those.

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Cryptocurrencies have pulled one of Nvidia’s most sluggish businesses out of the gutter – Quartz

As 747s ship AMD processors to cryptocurrency mines around the world, Nvidia numbers are also flying high.

The companys OEM sector, one of its smallest revenue streams, saw 54% revenue gains year-over-year, up nearly $100 million. Nvidia credited the jump to demand for its dedicated processing board and traditional graphics cards, which miners rushed out to buy as the price of Ethereum and other cyptocurrencies rose.

Cryptocurrency and blockchain are here to stay, Nvidia CEO Jen-Hsun Huang. The only thing we can probably expect is that there will be more currencies to comeWe have the ability to rock n roll with this market as it goes.

Meanwhile, datacenter growth is starting to level off, indicating that Nvidia is beginning to hit the peak of its dominance in supplying computing power for AI and deep learning across the industry. Even though Google is and others are trying to develop their own AI hardware, they havent delivered new products to the mass market. Use of Googles Tensor Processing Unit can be rented on its cloud servers, however.

Nvidia CEO Jen-Hsun Huang isnt fazed by the prospects of new entrants into the AI hardware ecosystem, saying that GPUs will be still needed in datacenters as social media pushes more towards video.

You have to perform AI on instantly so you can avoid inappropriate video being streamed to large audiences, Huang said, then mentioning Googles hardware by name. A GPU is basically a TPU that does a lot more.

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Google on track for quantum computer breakthrough by end of …

Ramping up the qubits

Julian Kelly/Google

By Matt Reynolds

Google is leading the pack when it comes to quantum computing. The company is testing a 20-qubit processor its most powerful quantum chip yet and is on target to have a working 49-qubit chip by the end of this year.

Qubits, or quantum bits, can be a mixture of 0 and 1 at the same time, making them potentially more powerful than classical bits.

And if everything goes to plan, the 49-qubit chip will make Google the first to build a quantum computer capable of solving certain problems that are beyond the abilities of ordinary computers. Google set itself this ambitious goal, known as quantum supremacy, in a paper published last July.

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Alan Ho, an engineer in Googles quantum AI lab, revealed the companys progress at a quantum computing conference in Munich, Germany. His team is currently working with a 20-qubit system that has a two-qubit fidelity of 99.5 per cent a measure of how error-prone the processor is, with a higher rating equating to fewer errors.

For quantum supremacy, Google will need to build a 49-qubit system with a two-qubit fidelity of at least 99.7 per cent. Ho is confident his team will deliver this system by the end of this year. Until now, the companys best public effort was a 9-qubit computer built in 2015.

Things really have moved much quicker than I would have expected, says Simon Devitt at Macquarie University in Sydney, Australia. Now that Google and other companies involved in quantum computing have mastered much of the fundamental science behind creating high-quality superconducting qubits, the big challenge facing these firms is scaling these systems and reducing their error rates.

It is important not to get carried away with numbers of qubits, says Michele Reilly, CEO at Turing Inc, a quantum start-up. Its impossible to really harness the power of these machines in a useful way without error correction, she says a technique that mitigates the fickle nature of quantum mechanics.

Ho says it will be 2027 before we have error-corrected quantum computers, so useful devices are still some way off. But if Google can be the first to demonstrate quantum supremacy, showing that qubits really can beat regular computers, it will be a major scientific breakthrough.

Read more: Revealed: Googles plan for quantum computer supremacy

We have corrected the affiliation of Simon Devitt

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Closing In On Quantum Computing | WIRED

For more than two decades, writes Valerie C. Coffey (@StellarEdit), one of the holy grails of physics has been to build a quantum computer that can process certain types of large-scale, very difficult problems exponentially faster than classical computers. Physicists are making progress toward this goal every day, but nearly every part of a quantum computer still needs re-engineering or redesign to make it all work. [The Incremental Quest for Quantum Computing, Photonics Spectra, 6 June 2014]

With companies like Google and Microsoft seriously pursuing the subject of quantum computing, progress towards creating a indisputable quantum computer is likely to speed up. I say an indisputable quantum computer because the Canadian company D-Wave already has a quantum computer on the market; but, scientists are torn over whether it truly operates as a quantum computer. The problem with quantum computing is that you can never look under the hood to see what is going on because such an act would interfere with the quantum magic that allows a particle (in this case, a qubit) to be both a zero and a one at the same time. The following explanatory video calls this a secret computation. If you are new the subject of quantum computing, youll find the video both fascinating and insightful.

As the video notes, one of the challenges associated with quantum computing is instability. Because calculations are taking place at the quantum level, the slightest interference can disrupt the process. To increase stability, most experimental systems rely on heavy shielding and are cooled to operating temperatures approaching absolute zero. Thats makes quantum computers very expensive to build and maintain. Since they are so difficult and expensive to work with, you might ask: Why bother? Paul Lopata, a physicist at the Laboratory for Physical Sciences in College Park, MD, explains, Despite the well-known successes of computing machines based on digital logic, some algorithms continue to be difficult to perform and some problems are intractable not only on existing machines but on any practical digital-logic machine in the foreseeable future! [Beyond digital: A brief introduction to quantum computing, The Next Wave, Volume 20, No. 2, 2013] He continues:

These intractable problems serve as both a curse and a blessing: A curse because solutions to many of these intractable problems have significant scientific and practical interest. A blessing because the computational difficulty of these intractable problems can serve as a safeguard for secure data storage and secure data transmission through the use of modern encryption schemes. It is clear that the only algorithmic way to solve these intractable problems is to utilize a computing machine that is based on something other than standard digital logic. One such path toward developing a beyond-digital logic machine is in the field of quantum computing. Quantum computing is still in the early stages of its development, and most of its advances are being reported from universities and basic research labs.

One of the more interesting advances that has been made resulted from an experiment at Washington State University. Eric Sorensen, a WSU science writer, reports, Researchers at Washington State University have used a super-cold cloud of atoms that behaves like a single atom to see a phenomenon predicted 60 years ago and witnessed only once since. [Discovery opens new path to superfast quantum computing, WSU News, 4 June 2014] The phenomenon to which Sorensen refers is called a Bose-Einstein condensate. Sorensen explains that the condensate is important to the field of quantum computing because it makes it easier for researchers to test assumptions and changes in the atomic realm of quantum physics. The experiment was conducted by Peter Engels and his colleagues, who were able to cool about one million atoms of rubidium to 100 billionths of a degree above absolute zero.

At that point, Sorensen explains, the cluster of atoms formed a Bose-Einstein condensate a rare physical state predicted by Albert Einstein and Indian theorist Satyendra Nath Bose after undergoing a phase change similar to a gas becoming a liquid or a liquid becoming a solid. Once the atoms acted in unison, they could be induced to exhibit coherent superradiant behavior predicted by Princeton University physicist Robert Dicke in 1954. Engels told Sorensen, This large group of atoms does not behave like a bunch of balls in a bucket. It behaves as one big super-atom. Therefore it magnifies the effects of quantum mechanics. Sorensen notes, While their cloud of atoms measures less than half a millimeter across, it is large enough to be photographed and measured. This gives experimenters a key tool for testing assumptions and changes in the atomic realm of quantum physics.

What Sorensen doesnt say is that a Bose-Einstein condensate (BEC) can act as a stable qubit. Coffey notes, The creation and control of a single qubit is inherently difficult, but controlling many of them simultaneously is even harder. Quantum states are fundamentally limited for the same reasons that the number of transistors on a semiconductor board is limited, according to Christopher Monroe, professor of physics at the University of Marylands Joint Quantum Institute in College Park. The more of them you have, the more difficult it is to connect them and the noisier the system. An article from European Grid Infrastructure notes, A BEC is a versatile quantum system that can be precisely controlled, and it is one of the essential requirements for building a quantum computer. [Getting closer to quantum computing with the grid, European Grid Infrastructure, 21 July 2014]

Researchers from the University of Waterloos Institute for Quantum Computing (IQC) agree that one major hurdle in harnessing the power of a universal quantum computer is finding practical ways to control fragile quantum states. In an attempt to address that problem, IQC researchers, Joseph Emerson, Mark Howard, and Joel Wallman, have confirmed theoretically that contextuality is a necessary resource required for achieving the advantages of quantum computation. [Study finds weird magic ingredient for quantum computing, Phys.org, 11 June 2014] The article explains:

Quantum devices are extremely difficult to build because they must operate in an environment that is noise-resistant. The term magic refers to a particular approach to building noise-resistant quantum computers known as magic-state distillation. So-called magic states act as a crucial, but difficult to achieve and maintain, extra ingredient that boosts the power of a quantum device to achieve the improved processing power of a universal quantum computer. By identifying these magic states as contextual, researchers will be able to clarify the trade-offs involved in different approaches to building quantum devices. The results of the study may also help design new algorithms that exploit the special properties of these magic states more fully.

Another interesting breakthrough was announced earlier this year by researchers from Yale University. Scientists at Yale University have demonstrated the ability to track real quantum errors as they occur, a major step in the development of reliable quantum computers. [Major Leap Toward Quantum Computing, PCB 007, 14 July 2014] The article notes that information loss, or quantum error, is a major challenge for quantum computing. Yale physicist Rob Schoelkopf, Sterling Professor of Applied Physics and Physics, stated, Ninety-nine percent of quantum computing will be correcting errors. Demonstrating error correction that actually works is the biggest remaining challenge for building a quantum computer. The article continues:

Schoelkopfs group and other Yale collaborators tackled the first step in quantum error correction successfully identifying errors as they happen, in their case by means of a reporter atom. Identifying quantum-computing errors in real time is particularly challenging: Qubits are so fragile that searching for errors can result in more errors. To determine if an error occurred, Schoelkopf and his team relied on an ancilla, or a more stable reporter atom, which detected errors without destroying the state and relayed that information back to the scientists on a computer. During their experiments, the scientists used a superconducting box containing the ancilla and an unknown number of photons, or light particles, which were cooled to approximately -459F, a fraction of a degree above absolute zero. This minimized quantum errors induced by the environment.

The team then tracked the photons in the box over time to see if and when the photons escaped. Losing photons from the box indicated lost information, or the occurrence of a quantum error. The errors need to be detected without learning the exact conditions in the superconducting box, including the number of photons, because determining the conditions in the box can disrupt the qubit quantum state and result in more errors. So the ancilla reported only the photon parity whether an even or odd number of quantum photons were present in the box in real time. A change in parity for example, from even to odd indicated the loss of a single photon without revealing whether the box had changed from six to five photons or from four to three photons. The team found success in their first experiment and demonstrated for the first time the tracking of naturally occurring errors, in real time, as would be needed for a real quantum computer.

Schoelkopf asserts, It is hard to estimate how long it will be until we have functional quantum computers, but it will be sooner than we think. Thats a claim weve heard before (see my post Quantum Future: Just Beyond Our Grasp). Lets hope that this time the prediction is more accurate.

Stephen F. DeAngelis is President and CEO of the cognitive computing firm Enterra Solutions.

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Snap CEO Evan Spiegel Makes A Case For Slow User Growth – Fortune

Snap CEO Evan Spiegel doesnt want Snapchat to become more of a global hit, at least not yet.

The social messaging company's CEO tried to reassure analysts who are worried about Snap's failure to add as many users as Wall Street had hoped by using an unusual argument. In essence, he'd be happier if the service grew slower, not faster like what the CEOs of most hot companies want.

In its second quarter earnings on Thursday, Snap (snap) said that it had 173 million daily active users versus the 175.2 million that Wall Street had forecast. Partly because of the shortfall, Snaps stock tumbled nearly 17% in after-hours trading to $11.44.

It didn't help that quarterly losses quadrupled to a whopping $443.1 million in the latest quarter from $115.9 million during the same period a year earlier.

Investors look at Snaps new user numbers as an important metric to gauge the companys future growth. It's also used to compare Snap to its rival, Facebooks (fb) competing year-old Instagram Stories feature, which now has 250 million daily active users and appears to be stealing much of Snap's thunder.

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Spiegal explained to analysts in a conference call that Snap pays more attention to how much revenue each individual user brings in rather than the mere total number of daily active users. In the current quarter, Snap collected $1.05 in revenue per user, up 109% year-over-year. But that was still slightly below analyst expectations of $1.07.

For every user Snap adds, it must pay more money to its cloud-computing providers that Snap's service is built on top of. But because the company only takes in a small amount of money for every user, adding more creates bigger cloud billsand ballooning losses.

A sudden influx of users is just not appealing at this stage of the business, Spiegel said. He didnt say what cloud hosting providers he was referring to in terms of the big bills, but Snap has previously agreed to spend $1 billion over the next five years on Amazon Web Services (amzn). This is on top of the $400 million it is spending to use Googles (goog) competing cloud computing services over a five-year period.

Because of the revenue per user problem, Spiegel said he is taking a wait and see approach in terms of expanding much outside of the United States and Canada. It doesnt make sense now, but may make sense in the future, he said. Snap brought in $148 million in North American sales in the second quarter, followed by $22 million in European sales, and $12 million for the rest of the world.

Spiegel is hopeful that the companys nascent advertising business, on which Snap depends, will eventually become a big hit. Investing more in overseas markets will become more appealing as the mobile [advertising] markets improve, he said.

For many investors, that improvement couldn't come too soon.

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RiverMeadow and WSM Announce Agreement to Facilitate Cloud Migrations – GlobeNewswire (press release)

SAN JOSE and ST. CLAIR SHORES, Mich, Aug. 10, 2017 (GLOBE NEWSWIRE) -- RiverMeadow Software Inc., a leading provider of server migration automation technology, and WSM International, the leader in cloud and server migration services, have partnered to deliver a new service that helps mid-market and large enterprise companies move computing workloads to Amazon Web Services (AWS), Azure, Google Cloud and other hosting platforms. Now, companies looking for trusted expertise and execution when moving to the public or private cloud can easily avail themselves of the tools and services and years of experience offered by RiverMeadow and WSM.

The new service is available immediately to customers that are thinking about or already engaged in a move to the cloud.

WSM and RiverMeadow have successfully completed some very complex migrations over the past year, migrating hundreds of servers for customers, so this agreement really formalizes our relationship, said Jim Jordan, president and CEO of RiverMeadow. The services delivered by WSM have proven to be a perfect complement to our migration software technology so that together weve been moving customers to the cloud on time, on budget and with no disruption to business operations.

WSM executives have joined the RiverMeadow industry advisory board to provide input on product direction so that the cross-hypervisor, Lift & Shift server migration software efficiently automates as much as possible the process of moving workloads to cloud computing.

We have experience with all types of automation software for cloud migrations and have found RiverMeadows among the best, said Ryan Pelerin, founder and CEO of WSM. Plus, the RiverMeadow support has been outstanding so weve already made great strides together in our relationship and efforts to make server migrations to cloud as cost effective and easy as possible for our customers.

RiverMeadow software automates the core processes of collecting, converting and deploying the application stack from the source to the target cloud environment. WSM adds services, as needed, to complete the server to cloud migration. WSM cloud transformation professional services include consulting, discovery, assessment and migration planning, migration, configuration, development, DevOps, load testing, security and penetration testing to ensure a comprehensive and successful cloud adoption experience for every customer.

In addition, WSM will deploy its exclusive Cloud Catalyst workload assessment tool, which will be available on the AWS Marketplace in Q4 2017 and on the Microsoft Azure Marketplace shortly thereafter. It performs rapid discovery of tens to thousands of servers to assist in migration planning. Cloud Catalyst helps determine the time and costs associated with moving workloads out of the data center to the cloud, or from cloud to cloud. It's the first tool of its kind that can estimate the level of effort and cost to migrate. The two companies plan to fully integrate RiverMeadows Pre-Flight Check server verification tool with Cloud Catalyst to identify servers that are immediately ready for migration using RiverMeadows software.

AvailabilityBusinesses looking for information on how to engage the expertise of RiverMeadow and WSM for their cloud migration initiative can email sales@wsmintl.com or call 888-899-7940.

About RiverMeadowRiverMeadow is a Software Enabled Services Company that provides a broad range of best in class cloud migration services. RiverMeadow solves the challenge of migrating large, complex workloads cross hypervisors into and between cloud environments. We leverage proprietary and non-proprietary automation tools for migrating physical, virtual and cloud-based servers into and between public, private and hybrid clouds. For more information, visit http://www.rivermeadow.com or follow the company on Twitter at @RiverMeadow1 and LinkedIn.

About WSM InternationalWSM International is a specialized services and solutions integrator with a core focus on cloud and server migration, transformation, and DevOps services. WSM created the specialized migration services category in 2003, and today is the one of the largest specialized migration services providers in the world. For more information, visit http://www.wsmintl.com.

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RiverMeadow and WSM Announce Agreement to Facilitate Cloud Migrations - GlobeNewswire (press release)

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