Page 4,442«..1020..4,4414,4424,4434,444..4,4504,460..»

ARM Servers Can Soon Power Half of Microsoft Data Center Muscle – Data Center Knowledge

Recent years relative quiet on the ARM server front, the scarcity of large-scale IBM Power deployment news, and the consistent growth reported by Intels Data Center Group may in totality create an impression that the data center chip wars have subsided, with Intel enjoying a massive and secure lead. A few announcements that came out of last weeks Open Compute Summit in Santa Clara and the Google Cloud Next conference in San Francisco however showed that while Intels lead may be massive, its under bigger threat than may have appeared.

The biggest news out of the Open Compute event was that Microsoft had been working with ARM chip makers Cavium and Qualcomm on ARM server designs to run many of its cloud services (Qualcomms processors are in a big but reportedly waning share of the worlds smartphones). This was not an announcement like the ones weve heard in the past from Facebook and Google non-committal revelations that they had been testing ARM servers here and there, and that they were really always testing everything on the market, just in case.

Microsoft thinks theres real potential for ARM servers to eventually provide more than half of its cloud data center capacity. Coming from the worlds second-largest cloud provider, that kind of announcement should give Intel a lot to think about. As more and more corporate applications are headed for the cloud, the number of servers traditional hardware vendors sell to enterprises is on a gradual decline, while cloud providers are buying more and more processors to support those migrating workloads. The prospect of ARM servers working out the way Microsoft is picturing they may for its Azure cloud threatens Intels biggest source of revenue growth.

Learnabout Project Olympus,Microsofts pioneering effort to design data center hardware the same way open source software is developed, at Data Center World, which is taking place next month in Los Angeles. Kushagra Vaid, Microsofts general manager for Azure Cloud Hardware Infrastructure, will be giving a keynote titled Open Source Hardware Development at Cloud Speed.

The same week, speaking on stage at Googles big cloud event, Raejeanne Skillern, leader of Intels Cloud Service Provider Group, confirmed what Google had announced earlier, that Intel had sold to Google its latest-generation Skylake server chips before it would let any other company have them, giving Googles cloud platform a temporary performance advantage over its competitors. Timing of both announcements may be a coincidence, but one reason Microsoft has been working with ARM server vendors is to avoid putting all its eggs in one basket, especially if that basket is a supplier thats not required to provide all its customers with a level playing field.

Read more: Google Expands Cloud Data Center Plans, Asserts Hardware, Connectivity Leadership

In order to avoid having to rewrite much of the software that powers its cloud services, Microsoft has ported Windows Server 2016 to ARM, Leendert van Doorn, distinguished engineer for Azure, announced from stage at the summit. The company envisions using ARM servers to power its cloud storage, Big Data, Machine Learning, search, index, and other workloads. Those properties together actually represent over half of our data center capacity, so theres quite a lot of potential for different kinds of servers there, he said, adding that the workload that for now is safely in the x86 corner is running customers cloud VMs, also known as infrastructure-as-a-service.

We work closely with our x86 partners too, so one of the key things here for us is choice, van Doorn said in an interview with Data Center Knowledge. Besides Intel, those x86 partners also include AMD, which is staging a comeback to the data center market, leading with its upcoming high-performance Naples chip. Project Olympus, Microsofts effort to leverage the open source hardware design community of the Open Compute Project to create its next cloud server, includes motherboards for Intel, AMD chips, as well as the ARM variants by Cavium and Qualcomm.

The ARM server ecosystem has to a great extent benefited from the massive scale of the high-end smartphone market, van Doorn wrote in a blog post. The developer ecosystem that has grown around ARM-powered smartphones has significantly helped Microsoft in porting its cloud software to ARM servers.

Van Doorn cited throughput-oriented ARM designs as a key reason Microsoft is getting so heavily involved with the architecture. Those are things with high-performance IO, high IPCs (instructions per cycle), lots of cores and threads, large numbers of them, and lots of interesting connectivity options, especially with some of the newer bus standards, which are very interesting from an accelerator perspective, he said.

Simpler hardware compatibility is another factor. Because ARM chipsets and motherboards are built on open standards, theres absolutely no difference between Cavium and Qualcomm versions of Windows Server 2016 for ARM, van Doorn said. A single generic ARM ACPI driver will enable the OS to discover and onboard peripherals and such instead of different drivers for different chipsets, as explained by The Register.

Another trend thats playing out in Microsofts ARM and AMD announcements is the new opportunity to optimize cloud hardware for specific workloads. That opportunity is in the economies of scale the cloud has made possible. From van Doorns blog post:

Due to the scale required for certain cloud services, i.e. the number of machines allocated to them, it becomes more economically feasible to optimize the hardware to the workload instead of the other way around, even if that means changing the Instruction Set Architecture.

A bigger variety of chipmakers in theory makes that kind of optimization easier.

Read the original here:
ARM Servers Can Soon Power Half of Microsoft Data Center Muscle - Data Center Knowledge

Read More..

One News Page Joins The European Cloud Alliance – PR Newswire (press release)

Cloud computing, from storage to servers, is yet to become the industry standard. Thousands of businesses worldwide depend upon physical hardware and support that is too often prone to downtime and therefore likely to provide considerable hits to business productivity and customer relations. Cloud computing removes the need for physical dependency, and therefore allows businesses and individuals to manage their own IT infrastructures, data and backups on a remote basis - and completely virtually.

The European Cloud Alliance promotes the many benefits to businesses both big and small that a move to cloud computing can offer.The organisation not only highlights the ways through which cloud computing can directly improve business processes but also highlights case studies where European businesses have seen their fortunes turned around thanks to the technology.

Beyond this, the European Cloud Alliance also aims to educate businesses and governments on the best possible ways to adopt and implement cloud technology - in the aim of helping to make European business run more efficiently and less dependent upon hardware that is in need of maintenance and which can hamper productivity.

One News Page is one such company that has benefited directly from cloud computing - with founder Dr. Marc Pinter-Krainer having adopted the technology for the website in 2015. This move was undertaken to help One News Page to continue operating as a low-maintenance news website benefiting from automated servers - and Dr. Pinter-Krainer's previous experience with physical servers located in the US as well as on the European continent in Germany was one fraught with heavy maintenance and the consumption of valuable time.

Since the website's move to cloud servers two years ago, Dr. Pinter-Krainer has noted a vast improvement in the efficiency of One News Page's operation, removing the long hours of waiting for server maintenance taken out of the equation entirely - as well as the introduction of greater control over backups and unscheduled downtime. You can read more about One News Page's case study published by the European Cloud Alliance here.

"Moving onto the cloud has been a huge benefit," Dr. Pinter-Krainer is quoted in the case study as saying. "Quite a bit of work had to be done at first - the architecture of how One News Page was built had to be updated. But since we did it, I've had not issues at all. I've only seen benefits."

The business benefits unlocked by the move to the cloud has motivated Dr. Pinter-Krainer to help support the ECA as a business consortium and in its efforts to encourage European firms to consider moving to the cloud as well.

"Businesses like Marc's can benefit hugely from adopting cloud solutions" said Kim Gagn, Director of the European Cloud Alliance. "We're delighted that One News Page has joined the ECA and contributed this excellent case study. We look forward to working with Marc and others to show how cloud technologies are supporting business grow across Europe."

One News Page is free to browse and allows its readers to take advantage of its comprehensive repository of over 100 million different news resources from scores of reputable and authoritative sources and journalists. Offering written digests, original content and video news for readers to access and consume at their leisure, One News Page is continuing to tap into the news aggregation market by making it easier and quicker to access with each update.

One News Page was founded in 2008 and services markets in the English, German and Spanish languages across Europe, America, Asia and Australasia. In 2016 it served over 20 million users accessing its news portal websites.

For further information, please visit http://www.onenewspage.com/

About One News Page Ltd

One News Page Ltd is a British media firm which runs a family of news portal websites across the globe. The sites feature original news coverage and syndicated news content including news videos from major trusted news sources.

The One News Page portal is arguably the fastest-access news portal in the world. It provides users with a powerful search engine of more than 100 million news resources, allowing them to discover and locate relevant news coverage easily. Users are referred to the source website directly by clicking on a corresponding link.

Optional free member registration provides access to news archives and live news alerts by email.

Access to all One News Page sites is free of charge.

http://www.onenewspage.com

About the European Cloud Alliance

The European Cloud Alliance brings together businesses across the cloud value chain to promote the advantages of the cloud, and to provide an authoritative voice on cloud-related policy issues. We represent those that use, create, and provide cloud services across Europe.

Cloud technology is driving transformation in every corner of Europe, helping businesses and organisations innovate, grow and compete on a global scale. The Alliance helps enable new ways of working, new products and services, and even new business models.

Home

Enquiries / Media Contact One News Page Ltd Dr Marc Pinter-Krainer Founder & CEO Email: marc@onenewspage.com Tel: +44-(0)-208-1333-700 http://www.onenewspage.com/

SOURCE One News Page Ltd

Read the rest here:
One News Page Joins The European Cloud Alliance - PR Newswire (press release)

Read More..

Silicon Valley Leaders Join OVH US Executive Team to Challenge … – Marketwired (press release)

Global hyper-scale cloud provider staffs US executive team with industry veterans

RESTON, VA--(Marketwired - Mar 14, 2017) - OVH, a global hyper-scale cloud provider, today announced the addition of seasoned executives to lead OVH US with a mission to bring best-in-class products and support services to the largest cloud computing market in the world. OVH US is a wholly-owned subsidiary of the France-based OVH Group, the largest European cloud hosting provider since 2011. Russell P. Reeder, veteran chief executive in the cloud services and hosting industry, takes the helm as president and CEO of the new organization.

In late 2016, KKR and TowerBrook invested $250 million to support OVH's global expansion, including the US market. To date, OVH owns 26 data centers across four continents, thousands of miles of dark fiber, which deliver a capacity of 10+ Tbps, and 32 points of presence worldwide.

"Today, companies see no borders and must deliver great performance globally," said Reeder, president and CEO of OVH US. "The US cloud market is ripe for disruption -- companies deserve better service at an affordable price. We will bring the same innovation to the US market that led OVH to its position as one of the top five hosting companies in the world, while also delivering best-in-class services and support for small, medium, and large enterprises. With our experienced and respected executive team, which helped to grow many cloud and technology companies to record revenues, including Media Temple and GoDaddy, I have no doubt we will duplicate our past success and exceed customer and shareholder expectations while disrupting the cloud hosting market."

Known for its vertical integration of data center infrastructure, OVH owns its data centers and uses proprietary water-cooling technology that more efficiently cools servers and optimizes energy usage while simultaneously increasing performance. In February, OVH announced the acquisition of its second US data center, located in Hillsboro, Ore. A facility in Vint Hill, Va., is currently under construction. Initial offers for businesses interested in expanding to the US data centers are targeted to be available in summer from the Vint Hill location.

"OVH has long been a leader in cloud and hosting services across Europe, known for unique energy efficiency in its data center operations and competitive pricing," said Liam Eagle, Research Manager, Hosting and Cloud, at 451 Research. "The US market for cloud infrastructure is dominated by a handful of large players. However, there is an opportunity to win market share and impact the existing cloud space through a combination of proven leadership and true technology differentiation."

The new US team will establish offices in Reston, Va., dubbed the Silicon Valley of the East, Vint Hill, Va., and Hillsboro, Ore. OVH US is a separate legal entity and wholly owned subsidiary of OVH, and will have a independent board.

The OVH US executive team includes:

Russell P. Reeder - President, CEO, and Member of US Board A veteran technologist and chief executive to software and cloud businesses with more than 25 years of experience, Russell P. Reeder joins OVH US from icitizen, where, as president, CEO and co-founder, he led the creation of a software platform to increase civic engagement. He has a history of building businesses that achieve successful exits, including acquisitions with LibreDigital to RR Donnelly and Media Temple to GoDaddy. Reeder specializes in leading high-growth, disruptive businesses that marry a customer-centric vision and strong technology innovation -- ranging from his enterprise software experience at Oracle to ebooks, IPTV, and web hosting. His breadth of experience, including sales, branding, and programming, enables Reeder to build teams that execute market-impacting business plans, consistently generating value for customers and shareholders.

Dean Gels - Chief Financial Officer and Member of US Board Dean Gels brings more than 15 years of financial experience in technology M&A, equity and debt financing. As an investment banker for RBC Capital Markets, Gels completed more than 40 deals, amounting to $17 billion in transaction value. He was instrumental in the sale of Media Temple to GoDaddy in 2013 and in RBC's role as joint bookrunner and lead arranger for GoDaddy's $2.25 billion recapitalization in 2011. Most recently, Gels served as the VP of corporate development at Borderfree, managing the sale of the business to Pitney Bowes for $489 million in 2015.

Brian Kuhn - Chief Digital Officer Brian Kuhn is a product and marketing executive with almost 25 years of experience focused on creating right-fit solutions to customer problems. His tenure with industry giants including YP, AT&T, ebay, Palm and HP led him to building brand experiences for millions of users and managing critical Fortune 100 customer relationships, including a strategic relationship with J.P. Morgan Chase. As VP of product and user experience at Media Temple, Kuhn built product and marketing organizations that scaled quickly to put customer needs at the forefront of the business. He created a managed service offering around AWS that quickly generated a multi-million dollar business.

Robert Gregory - Chief Customer Officer Robert Gregory joins OVH from GoDaddy, where he served as senior director of hosting support. A global customer sales and support executive with 13 years of experience, Gregory has devoted his career to fostering employee growth, optimizing customer satisfaction, and increasing profitability. Over the last 10 years, he grew Media Temple and GoDaddy's hosting and sales support teams from 100 to 600 employees, and drove revenues from $3 million to $100 million annually. As VP of customer support at Media Temple, Gregory developed managed service programs, growing revenues from $3 million at Media Temple to $20 million annually at GoDaddy.

Scott Brown - Senior Vice President Engineering & Operations With more than a decade of experience launching innovative products and services in the hosting industry, Scott Brown has a proven track record of product innovation and revenue growth. As VP of engineering at Media Temple, Brown oversaw software engineering, architecture, quality assurance and operational support of cloud services, shared hosting, dedicated hosting and more. He led development of new PaaS offerings that resulted in $725,000 in new bookings in a single year. At GoDaddy, Brown led a team of more than 150 to expand web hosting offerings from 500,000 hosted sites to more than 5.5 million sites.

"When I started OVH 18 years ago, my focus was to create a way for customers to take advantage of then-nascent cloud computing technology," said Octave Klaba, CEO and Chairman of the Board of OVH Group. "Today, customers face a different challenge -- buying cloud services from any one of a number of identical companies. OVH US will challenge what businesses believe to be the industry norm for cloud services, and exceed their expectations for value. Russell and the OVH US team have the industry pedigree and market expertise to start a ripple that becomes a tsunami as we take the US IaaS market by storm and set a new industry standard."

Join OVH US OVH US is hiring for multiple roles based in the US. To learn more, visit: https://www.ovh.com/us/careers/available-positions/?country=we

About OVH US OVH US is a global, hyper-scale cloud provider that offers businesses industry-leading performance and value. Vertically integrated to own its network, server technology and green data centers, OVH US operates more cost effectively and passes these benefits back to customers. Controlling each step in the global solution allows OVH US to provide the best performance, price, security, and customer service in the industry. OVH US is a subsidiary of OVH Group, the largest European hosting provider, with more than one million customers across 138 countries and four continents. Thus, OVH US customers join a global network with 26 data centers, 32 points of presence, and thousands of miles of dark fiber.Learn more about OVH US.

See the rest here:
Silicon Valley Leaders Join OVH US Executive Team to Challenge ... - Marketwired (press release)

Read More..

Bitcoin Dominance Index Crashes Below 80% as Ethereum and Dash Rise – CoinJournal (blog)

Everyone has been watching the bitcoin price in the aftermath of the SECs decision to not allow the creation of a bitcoin ETF, but most of the real action has been taking place in the altcoin market. While the Bitcoin Dominance Index (BDI) was closing in on 90 percent at the start of the new year, it briefly crashed below the 80 percent mark on Monday.

The BDI is bitcoins share of the overall cryptocurrency market. So far this year, the BDI has mostly held steady above the 85 percent mark. This recent downtrend has really only picked up steam over the past few days.

The two biggest movers in the altcoin market in the month of March have been Ethereum (ETH) and Dash. ETH is up roughly 65 percent in terms of bitcoin since the first of March, while Dash is up more than 120 percent over the same timeframe.

At current prices, ETH needs another 46 percent increase to reach its bitcoin-denominated all-time high from before a flaw in The DAO was exploited. Ethereum Classic (ETC), which appeared in the aftermath of the hard fork related to The DAO, has dropped to all-time lows when compared to ETH. A hard cap on the supply of ETC was recently announced, and Grayscale Investments, who are behind the Bitcoin Investment Trust, are working on a similar investment vehicle for ETC.

Its unclear what has led to the recent price rises in ETH and Dash. One possible culprit is the relatively high transaction fees on the bitcoin network; however, its unclear whether this will open the door for any meaningful altcoin adoption.

It should be noted that much of the speculation in the altcoin market could be due to the increase in the bitcoin exchange rate in terms of US dollars. Altcoins also reached high valuations the first time bitcoin crossed the $1,000 mark back in late 2013. Back then, it was Peercoin and Mastercoin (now Omni) reaching market caps of over $100 million. Litecoin also peaked at a market cap of over $1 billion.

Monero was the main bright spot in the altcoin market last year after gaining acceptance on Alphabay, but the privacy-focused altcoin has been mostly down in 2017. It only recently regained its price level from the beginning of the year over the past few days.

If altcoins were going to be used for small value payments due to bitcoins high fees, then Litecoin would be another obvious option. Ironically, the silver to bitcoins gold is down around 25 percent against bitcoin year-to-date.

Its difficult to predict what will happen next in the altcoin market. These small markets (relative to bitcoin) are almost entirely speculative, and its hard to find any rhyme or reason behind the price movements.

Some will point to bitcoins high transaction fees as the driving force behind the recent trends in the altcoin market, but more evidence needs to be gathered before this can be viewed as fact. As Bitpay CEO Stephen Pair recently wrote, users may decide to stick with centralized bitcoin institutions, which may become more decentralized with future developments, rather than switch to an altcoin.

See the original post here:
Bitcoin Dominance Index Crashes Below 80% as Ethereum and Dash Rise - CoinJournal (blog)

Read More..

Why Bitcoin Is Important For Your Business – Forbes


Forbes
Why Bitcoin Is Important For Your Business
Forbes
Recently, a luxury hotel called the Seehotel Jagerwirt in Turrach, Austria found that all of its electronic doors were locked by hackers and could not be opened unless the hotel made a bitcoin payment to the hackers. As hackers become more ...

View original post here:
Why Bitcoin Is Important For Your Business - Forbes

Read More..

Bitcoin: The Winklevoss Twins Cannot Catch A Break – Seeking Alpha

On Friday, March 10, Bitcoin rose to the highest price in history when the cryptocurrency hit $1,285.74 against the U.S. dollar. Bitcoin trading was born in 2010 when the price was only 6 cents in dollar terms, and the asset has come a very long way since.

There has been lots of debate surrounding the cryptocurrency. Some call it a commodity and others a currency. Most commodities are raw materials or hard assets that owners can hold in their hands or store for safe-keeping. One can only store Bitcoin in a computer wallet via a computer code. One of the most interesting things about Bitcoin is the blockchain technology that records a chain of ownership. Blockchain has many applications for other assets and could revolutionize the back-office function creating economies of scale and decreasing the cost of settling transactions across all assets. The current acting Chairman of the Commodities Futures Trading Commission (CFTC) commented on blockchain or DLT (distributed ledger technology) in January. "DLT may allow market participants to manage the enormous operational, transactional, and capital complexities brought about by Dodd-Frank. At the same time, it may provide regulators with the market visibility necessary to fulfill our mission to oversee healthy financial markets." The CFTC has designated Bitcoin as a commodity.

Last Friday, the Bitcoin market faced a highly anticipated decision by another regulator, the Securities and Exchange Commission (SEC), which ruled on a rule change that would have allowed for the creation of the first Bitcoin exchange-traded fund (ETF). Gemini sought to list the ETF on the NYSE Arca exchange. The ETF was the brainchild and supported by the Winklevoss twins who are angel investors in Gemini.

Bitcoin holds gains after SEC decision after an initial selloff

As those who trade Bitcoin held their collective breath and waited for the decision from the SEC last Friday, the price of the cryptocurrency rallied to its all-time high. After all, an affirmative nod from the regulatory body would have opened the floodgates for investors to position in Bitcoin via an ETF product. (Source)

As the price chart over the past few trading sessions highlights, Bitcoin fell to a low of $1,085.33 following the adverse decision from the SEC, a decline of 15.6% over the course of one-hour last Friday afternoon.

The SEC said in their decision that they were unnerved by a market that operates on an unregulated basis largely outside of the United States. They went on to tell the market that the chances for market manipulation are high in the world of Bitcoin at this time. There are currently two other proposals before the SEC when it comes to an ETF product for Bitcoin, but Friday's decision handed another in a series of bruises to the ego of the Winklevoss twins.

Despite the decision, the reasons that have caused the increase in value for Bitcoin remain strong. As a currency instrument, Bitcoin can float freely and its value comes from supply and demand for the cryptocurrency. While other foreign exchange instruments are subject to controls and manipulation by governments and monetary authorities around the world, Bitcoin is a pan-global means of exchange tool. In nations where currencies are not freely convertible, like China and Russia, the popularity of Bitcoin has soared. Therefore, by Monday, just a few days after the SEC handed down a decision that put an economic bullet into the twins' dreams of reaching the pinnacle of the cryptocurrency market, the price was right back up above the $1,240 level and trading near last week's highs. Eventually, there will be a market product that replicates the price action in Bitcoin, but the chances are that those poor Winklevoss twins lost their opportunity last week. It seems like everything they get involved in is a huge winner and at best, they only can capture a sliver of the value.

Another in a series of blows to the ego

The Winklevoss twins reached the height of their fame when they worked with Mark Zuckerberg at Harvard to develop Facebook. While Zuckerberg became a billionaire, the poor twins settled for $65 million in cash and Facebook stock which today is probably only worth a couple of hundred million. The twins argued in a lawsuit that they were the founders of the company and their piece of the Facebook pie amounts to a mere pittance when compared with Zuckerberg's net worth of which is north of $56 billion.

Money cannot matter much to the twins these days as a couple of hundred million is probably more than both can spend in their lifetimes, but the blow to the ego from the SEC decision has probably sent both into deep analysis wondering why they just cannot get anything to go their way. After all, Facebook has been a sensation that has surpassed almost everyone's wild dreams, and the future Bitcoin ETF product will likely have a similar result.

A Bitcoin ETF could attract lots of action

One of the biggest problems with Bitcoin is that it is so foreign to the traditional investment community. Investing in Bitcoin requires a certain amount of computer savvy, imagination, and a wallet in one's computer to store the cryptocurrency. While many millennials have embraced Bitcoin, the nontraditional method of investing in and holding the asset has caused many seasoned investors and traders to avoid it like the plague. Whenever I write a piece on Bitcoin, I always get at least one comment asking why someone should invest in anything that is backed by nothing. The other comments express the same concern cited by the SEC and other regulatory bodies that manipulation is too rife in the market to make it a solid investment vehicle. An ETF product would go a long way towards acceptance of Bitcoin as a trading sardine. Face it, investors and speculators love volatility, and if they can trade an asset that offers wide price variance and trades on a bona fide exchange, it will go a long way to increasing market visibility and acceptance. A Bitcoin ETF product will succeed once the regulators figure out a way to understand the flows in that market and the exchanges are chomping at the bit knowing that the trading volumes and fees will be huge.

Bitcoin at an all-time high

Bitcoin did not fall apart in the wake of last week's SEC announcement to reject the ETF product offered by the twins. In fact, the price action following the announcement was just another example of another higher low for Bitcoin.

Source: http://www.coindesk.com/price/

As the chart dating back to March 2016 shows, the price of Bitcoin has tripled and has been making higher lows, and higher highs as more people around the globe embrace a currency or commodity that is simply a function of supply and demand and that transcends the forces of government. In an age where citizens in Western nations are rejecting decades of the status quo as exemplified by the Brexit vote and election of Donald Trump as President of the United States, the rise in popularity of Bitcoin should come as no surprise. Moreover, as individual wealth in China increases, the controlled nature of the currency and exportation of wealth creates the perfect environment for Bitcoin to thrive. For the time being, it could be a case of this week's highs are next week's lows for Bitcoin and the SEC decision has little to do with the future popularity and acceptance of the cryptocurrency.

Is regulation of Bitcoin possible?

Regulators are struggling to get their hands around Bitcoin under the pressure of exchanges that smell profits from transaction fees. If the U.S. regulators do not act fast enough, it is likely that a foreign exchange in a friendlier regulatory environment will capture market share and leave the U.S. exchanges in the dust, just like the Winklevoss twins.

The CFTC was correct to label Bitcoin as a commodity. National interests tend to drive currencies, stocks, and bond prices over time which allows regulators to liaise with markets and exchanges to control and monitor flows. However, commodities are a different story given that production occurs in some regions of the world and consumption is ubiquitous. The CFTC regulates commodity prices within the United States and works with other cooperating nations to protect the markets from bad behavior. However, the U.S. regulators do not have the ability to control raw material markets on a pan-global basis, and they concentrate on the activity within the borders of the nation. If someone in the Ivory Coast decided to control and manipulate the price of cocoa, the regulators could not do much. OPEC has been attempting to manipulate the price of oil for decades, but it still trades actively and is regulated by the CFTC when it comes to trading on the U.S. futures market. Bitcoin is a commodity, and regulation needs to come with the full knowledge that what happens away from U.S. borders will be beyond the reach of regulatory bodies.

The SEC ruling last week was short sighted in that their argument was specious. Commodities markets, like Bitcoin, operate largely outside of the U.S. and there are instances where market manipulation occurs. The CFTC is accustomed to regulating commodities and therefore should have the role of guiding the SEC. After all, there are currently Cocoa (NYSEARCA:NIB) and crude oil (USO and BNO) ETF and ETN products that the SEC has approved for trading, and there is little difference between a Bitcoin ETF and those products when it comes to the arguments presented by the SEC.

The chances are that the regulatory body will eventually bite the bullet and approve an ETF product for Bitcoin. The problem for the Winklevoss twins is that they cannot catch a break. They will be left on the sidelines and on the outside looking in, once again, watching others make fortunes while wondering if they just have a dark cloud hanging over their heads.

I have introduced a new weekly service through Seeking Alpha Marketplace. Each Wednesday I will provide subscribers with a detailed report on the major commodity sectors covering over 30 individual commodity markets, most of which trade on U.S. futures markets. The report will give an up, down or neutral call on these markets for the coming week and will outline the technical and fundamental state of each market. At times, I will make recommendations for risk positions in the ETF and ETN markets as well as in commodity equities and related options. You can sign up for The Hecht Commodity Report on the Seeking Alpha Marketplace page.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Read this article:
Bitcoin: The Winklevoss Twins Cannot Catch A Break - Seeking Alpha

Read More..

These charts show bitcoin may be turning into a real currency – Quartz


Quartz
These charts show bitcoin may be turning into a real currency
Quartz
When bitcoin first hit the mainstream a few years ago, it was believed it could replace cash and credit cards as a way to pay for things. But its extreme price swings, and the fiddliness of a bitcoin transaction, meant that idea fell to the wayside ...
Bitcoin Payment Growth Shows It is 'Turning Into Real Currency': QuartzCoinTelegraph

all 2 news articles »

See original here:
These charts show bitcoin may be turning into a real currency - Quartz

Read More..

Bitcoin is Now Useless for Micropayments, But Solutions are Coming – Bitcoin Magazine

Bitcoin is Now Useless for Micropayments, But Solutions are Coming
Bitcoin Magazine
Bitcoin was once touted as a cheaper alternative to credit cards that was going to revolutionize the payments industry, but the P2P digital cash system has hit a bit of a speed bump in terms of those long-promised free transactions. Let's take a ...

See the rest here:
Bitcoin is Now Useless for Micropayments, But Solutions are Coming - Bitcoin Magazine

Read More..

Man behind GemCoin, a fake cryptocurrency, settles lawsuit for $71M – Ars Technica

USFIA

In the eight-page final judgment, which was issued on Monday, Chen agreed to no longer participate in any similar financial dealings. In addition, he and his former companies willhave to pay back over $51.2 million in ill-gotten gains, plus $3.79 million in interest, and a $16.7 million penalty as a result. Some of that money will be repaid by liquidating his companies assets, including multiple pieces of real estate. A recent report by the court-appointed receiver found records showing that approximately 65,000 unique e-mail addresses of investors had been affected. But even more people may have been put at risk.

Neither SEC attorneys nor lawyers representing Chen immediately responded to Ars request for comment.

As Ars reported two months ago, US District Judge Robert G. Klausner ruled that Chens Gemcoin operation was fraudulent.

Gemcoin advertised itself in ridiculous promotional videos (see above) as a purported cryptocurrency that was "trusted," as it was "backed" by amber mines. The offices of Gemcoins parent company, Alliance Finance Group, and its subsidiary, United States Fine Investment Arts, were raided in October 2015 by federal and local authorities.

Steve Chen and the companies associated with Gemcoin also face a proposed class-action lawsuit on behalf of alleged victims filed in state court in Los Angeles. The lawyer who brought the state case, Long Liu, did not immediately respond to Ars request for comment.

Read more from the original source:
Man behind GemCoin, a fake cryptocurrency, settles lawsuit for $71M - Ars Technica

Read More..

Distributed Cloud Storage Platform Storj Comes Out of Beta – Live Bitcoin News

The world of blockchain technology is filled with interesting concepts that will make a big impact over the coming years. Storj is one of those projects, and it has been running in beta mode for quite some time now. As of yesterday, Storj is now available to the public, and they offer registered users some free storage and bandwidth.

Developing a decentralized and distributed cloud storage platform not something that can be done overnight. The Storj team has worked diligently on their platform for many years now, keeping it in beta mode for some time to collect valuable feedback from users. The company has reached the next milestone for their project, as they are officially out of beta as of yesterday. This is an exciting development, as it will show the entire world how blockchain technology can create a better cloud platform than ever before.

Everyone who signs up for the distributed cloud storage platform will be able to make use of this distributed cloud storage solution right away. Registered users can use 25GB of storage and 25GB of bandwidth free of charge every month for a one-year period. People who go over this limit will be billed for their usage above the free allowance, assuming they have payment information on file. Those who do not have payment info linked will see their rates limited until payment information is added to the account. A solid business model that can possibly entice more users to become a paid customer in due time.

There is a way for users to earn additional storage and bandwidth, though. Storj has launched a referral program so people can invite their friends. As soon as one of those referrals spends US$10, the affiliate will get an additional 50GB of storage and 50GB of bandwidth added to their account. Users can refer an unlimited amount of friends to gain more perks. It is in the best interest of all Storj users to promote this platform as much as possible so they can keep earning rewards.

For those users who become a paying customer, Storjhas put some enticing price plans in place. With a price tag of US$0.015 per GB of storage per month, Storj is one of the cheaper solutions out there. Bandwidth costs a mere US$0.05 per GB per month, which is relatively cheap as well.

Considering users are paying for the convenience of having a storage solution that does not rely on centralized servers, these prices seem more than fair. Speaking of the payments, it is not yet possible to pay in Bitcoin or SJCX tokens, as there is no automatic recurring billing option in place. Manual payments for these currencies are accepted, though.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

View all posts by JP Buntinx

Original post:
Distributed Cloud Storage Platform Storj Comes Out of Beta - Live Bitcoin News

Read More..