Warren Davidson news

American politician from the state of Ohio.

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Warren Davidson to Facebook: Say Yes to BTC, Not Libra

It seems like some members of Congress still have no love for Libra. In fact, a few are even advising Facebook to adopt bitcoin and avoid the Libra project altogether. Among the people suggesting this is U.S. Congressman Warren Davidson of Ohio. Davidson to Facebook: Forget About Libra Davidson says he was first introduced to bitcoin back in 2013. He acknowledges that while bitcoin isn’t necessarily perfect, it is a decentralized system that gives its users freedom in how they conduct transactions. Libra, on the other hand, will be a centralized and regulated system that could get in the way of people’s liberties. Davidson admits that he’s always had a love of digital payment systems. Even before bitcoin came along, he was a huge fan of platforms like DigiCash, and says that electronic payments are likely to bring a whole new wave of financial products to people who otherwise would never have access to standard banking. At the same time, DigiCash and platforms like it consistently aroused controversy whenever money from countries like China was moved into the U.S., or vice versa. In a recent interview, he states: What really goes on in the back end there sometimes is governments are taking their time to validate everything, make sure they know it’s you, [and asking]: Why is this money moving? Who’s moving it? Are we okay with this? Should we process this request, or should we follow it? Should we report it? All kinds of things. Libra, sadly, has experienced its fair share of hate and distrust since it was first announced earlier in the year. While Facebook’s intentions may be pure of heart, many people aren’t seeing things that way. The company was at the center of a monster-sized scandal in 2018 when it was discovered that for many years, Facebook had been selling users’ private data for advertising purposes. Trust in Facebook ultimately fell to record lows, and the company was forced to pay massive fines. The idea of such a company entering the financial fray and getting its fingers on customers’ private monetary data is downright scary to some. A recent survey shows that trust in Libra is extremely weak, with less than three percent of potential Facebook users saying they would even consider using it. Too Many Losses as of Late Davidson said in the interview that Libra would likely be registered as a security given that a group known as the “Libra Association” would be in control of it. At the time of writing, however, there doesn’t appear to be much of an association left considering how many potential players – from PayPal to Uber to Mastercard – have packed up their bags and left, seeking out other opportunities. Despite this, Libra is telling all its “enthusiasts” that a 2020 launch date is still set. The post Warren Davidson to Facebook: Say Yes to BTC, Not Libra appeared first on Live Bitcoin News.
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Congressman Warren Davidson Says Facebook Should Use Bitcoin Over Libra’s Stablecoin

Remember the Congressman who called out ‘shitcoins’ during the preliminary hearings of Libra and distinguished Bitcoin (BTC) from the rest of the altcoins? Probably not. Well, Warren Davidson, a Republican candidate from Ohio, has been at the forefront of praising Bitcoin on the floor of the house and a vocal advocate of the industry outside […]
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Pro-Crypto US Congressman Warren Davidson Proposes US Dollar Tokenization Concept

Renowned crypto advocate US Congressman Warren Davidson who is well known among the crypto worshippers due to his Token Taxonomy Act is now proposing the tokenization of the US dollar. In a series of tweets, Davidson asked about the impact tokenization of the dollar would have in the world. Appearing in a recent CNBC’s show […]
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How to buy and store Ethereum (ETH)?

Almost all activities, on the Ethereum network, are powered by its native crypto token Ether or ETH. ETH boasts of a $20 billion market cap and a circulating supply of ~108 million coins. This makes it the second-largest cryptocurrency by market cap.  The Ethereum network token entered the cryptocurrency trading arena in 2015. According to CoinGecko, since launch, ETH has registered a 2800 percent increment in price to date. Although Ether is down almost 87 percent after hitting all-time highs at ~$1500, it is pretty much an attractive alternative investment option because of the overall appeal of Ethereum, as a decentralized computing platform.  Many see ETH as a much more promising crypto investment option than bitcoin. Few Fortune 500 companies and financial trust Ethereum. They recognize it as the de-facto blockchain platform for building next-generation applications and monetary settlements.  For all of these reasons and more, many investors are rapidly adding ETH to their portfolios. But how does one buy Ether? And from where?  Buy Ethereum (ETH) on Crypto Exchanges Probably the easiest way to get some Ethereum network tokens is from a well-established cryptocurrency exchange operating in your country.  ETH enjoys massive popularity within the crypto community due to its demonstrated decentralized use case. Any crypto exchange will surely have Ether listed for buying and selling.  Choosing a Suitable Crypto Exchange While locking onto a particular exchange, some preliminary research needs to be done. Cryptocurrencies by their very nature are assets that come with high risk and equally high rewards. Consequently, the fledgling space also attracts a lot of fraudsters. So, it is mandatory to do your due diligence before picking a platform to buy Ethereum.  Crypto exchanges need to have well-established headquarters a genuine team (probably with a good Twitter, LinkedIn presence), well-responsive support, decent liquidity and security of trading funds, etc. Some well-recognized names are Binance, Bitfinex, Coinbase, Kraken, eToro.  Registering on The Chosen Crypto Exchange After choosing a suitable crypto trading platform, you would be required to register yourself as a legitimate user.  That means you will have to provide a few personal details as KYC (Know Your Customer) which confirms your status as a bonafide citizen of the particular country or state where you reside. This is done by exchanges just so that they are in line with global Anti-Money Laundering (AML) regulations.  After exchange officials verify your details, its time to use your newly opened crypto trading account to buy ETH. But for that, you need to deposit some fiat currency first. This should be relatively easy as all your details (including banking information) were okayed for trading.  Depositing Fiat Funds to buy Crypto Simply add money through your bank account or debit card on file. Cryptocurrency exchanges do not generally have high minimum investments. You can invest as little as $5 or as much as $1,000 or more. This is of course, based on the country or location of your residence, and the official currency in circulation.  Funds generally can some time to appear in the ‘fiat account’ of your chosen crypto trading platform. This depends on the bank and exchange transaction processing speeds, protocols, etc.  Once the fiat deposit happens, you can instantly use it to buy Ether. But remember to go through the current rates and trading volumes.  Buying Ethereum with Stablecoins or Other Crypto Assets In the past 2 years, there has been a gigantic upsurge in ‘crypto-to-crypto’ purchases. The proliferation of fiat-backed stablecoins like Tether (USDT) and rising bank restrictions on crypto purchases with credit/debit cards and wire transfers has led to the same.  It’s very simple buying ETH in a crypto-to-crypto (C2C) arrangement. All you need is some Bitcoin as it is considered the benchmark crypto asset for all C2C transactions or a US dollar-backed stablecoin like USDT or USDC (USD Coin) which is easily available on peer-to-peer trading exchanges. These platforms let users exchange actual fiat with fiat stablecoins, which you can use to buy the Ethereum token.  Withdraw Ether (ETH) into a ‘Private Wallet’  An important step follows your ETH purchase. It’s important that you transfer the funds into a cryptocurrency wallet, which you control. Storing your crypto funds on exchanges is not out of risk. A great lot of them have fallen prey to notorious hacks in the past. The recent one to get hacked was Binance, the largest crypto exchange by trading volume. It shows how unsafe your crypto funds can be, even with dominant trading platforms.  Hence, it is advised to store your crypto on a wallet where you control the private keys. Some examples of companies selling such ‘cold wallets’ are TREZOR, Ledger, KeepKey. Alternatively, you could use software wallets like Exodus, TrustWallet, etc. For Ethereum though, you have something called ‘light client wallets’ which are widely used by ETH investors. They are MyEtherWallet, Atomic Wallet, etc.   The post How to buy and store Ethereum (ETH)? appeared first on Bitcoinist.com.

Credit Suisse says investors should buy Virgin Galactic because of its 'near-term monopoly' in commercial space tourism

Credit Suisse is recommending investors buy shares in the newly public space tourism company Virgin Galactic.  The firm's analysts initiated coverage of the company on Thursday with  and "outperform" rating, citing its "near-term monopoly" in the commercial space industry.  Virgin Galactic entered the public markets in late October through a merger with Social Capital Hedosophia, a venture capital firm run by Chamath Palihapitiya.  Watch Virgin Galactic trade live on Markets Insider. Investors should buy newly public Virgin Galactic because of its "near-term monopoly" in the budding space tourism industry, Credit Suisse analyst wrote in a note to clients on Thursday.  "Our bullish view reflects the near-term monopoly SPCE offers in an industry (commercial space tourism) where public investment opportunities are scarce," the firm wrote. "We view this as a classic tech-driven high demand, low supply story with high barriers to entry." Credit Suisse initiated coverage of Virgin Galactic with an "outperform rating and $12.43 price target. That figure represents around a 39% premium from where shares traded on Thursday afternoon.  The lack of current offerings for space tourism enables "sticky pricing," as well as the potential for price discrimination, the analysts found. That dynamic — in combination with low-operating costs thanks to the firm already having invested in the required infrastructure — creates strong economics for its business model.  "With no near-term competition, growth should be fueled by expanding supply," the analysts wrote.  The firm determined its price target for Virgin Galactic through a blended valuation including an equally-weighted enterprise multiple and discounted cash flow.  The valuation also includes a 5% weighting for a potential catastrophic event such as a fatal crash, which was assigned a dollar-value of zero.  According to the bank's forecast, Virgin Galactic could generate $278 million in EBITDA in 2024 on revenue of $576 million.  "Losses should dissipate rapidly as flight activity rises. Per flight ticket revenue is around 3x variable mission cost, which would drive very attractive incremental margins," the analyst added.  Credit Suisse is the second firm behind Vertical Research Partners to initiate coverage on Virgin Galactic. Vertical Research has a $20 price target and "buy" rating on the stock, according to Bloomberg data.  Virgin Galactic became the first publicly-traded space tourism company in late October by merging with Social Capital Hedosophia, a venture capital firm run by Chamath Palihapitiya.  Join the conversation about this story » NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption
Business Insider

How many millennials can actually afford to buy a home in 16 of the biggest US metro areas

Only 13% of millennial renters in the US can afford a standard 20% down payment on a median-priced home in the next five years, according to a new Apartment List survey. Apartment List broke down the percentage of millennial renters who can afford to buy a house in 16 of the biggest US metro areas. In three California metro areas, less than 10% of millennial renters could put down 20% if buying a house in five years. Visit Business Insider's homepage for more stories. Homeownership is looking ever more like a pipe dream for millennials. Only 13% of millennial renters in the US can afford a standard 20% down payment on a median-priced home in the next five years, according to a new Apartment List survey. The survey polled over 10,000 millennials, defined as those ages 23 to 38. For a 10% down payment, that jumps to 25%; for a 5% down payment, it's 39%. But those numbers vary depending on where you're buying a home. Apartment List broke down the percentage of millennial renters who can afford a 20%, 10%, and 5% down payment within the next five years in 16 of the biggest US metro areas.  To estimate how long it would take each renter to save, Apartment List compared millennials' current savings levels, (adjusted for inflation and wage growth) against median metro-level condo prices from the National Association of Realtors (adjusted for historical home price appreciation). Turns out, California is a hard place to save for a home. Only 7% of millennial renters in San Francisco can afford a 20% down payment in five years — and they don't fare much better in Los Angeles or San Diego. Here's where else millennial renters are struggling to save for a home purchase. Note that all median home prices provided are from National Association of Realtors.SEE ALSO: Student-loan debt and skyrocketing housing prices have become so bad that more millennials are planning to rent forever DON'T MISS: 8 ways American millennials are changing homeownership, from moving to commuter towns to wiping out the starter home The median home price in Atlanta, Georgia, is $238,100. 20% down payment: 16% 10% down payment: 24% 5% down payment: 39%   The median home price in Boston, Massachusetts, is $507,400. 20% down payment: 8% 10% down payment: 20% 5% down payment: 37%   The median home price in Chicago, Illinois, is $269,700. 20% down payment: 16% 10% down payment: 29% 5% down payment: 37% The median home price in Dallas, Texas, is $271,100. 20% down payment: 14% 10% down payment: 29% 5% down payment: 45% The median home price in Denver, Colorado, is $465,700. 20% down payment: 9% 10% down payment: 20% 5% down payment: 28% The median home price in Houston, Texas, is $248,900. 20% down payment: 19% 10% down payment: 34% 5% down payment: 43% The median home price in Los Angeles, California, is $649,600. 20% down payment: 8% 10% down payment: 21% 5% down payment: 37% The median home price in Miami, Florida, is $365,000. 20% down payment: 13% 10% down payment: 30% 5% down payment: 43% The median home price in Minneapolis, Minnesota, is $290,800. 20% down payment: 16% 10% down payment: 34% 5% down payment: 45% The median home price in New York City, New York, is $400,100. 20% down payment: 18% 10% down payment: 31% 5% down payment: 46% The median home price in Philadelphia, Pennsylvania, is $256,200. 20% down payment: 15% 10% down payment: 33% 5% down payment: 45% The median home price in Phoenix, Arizona, is $289,200. 20% down payment: 13% 10% down payment: 18% 5% down payment: 35% The median home price in San Diego, California, is $645,000. 20% down payment: 8% 10% down payment: 24% 5% down payment: 36% The median home price in San Francisco, California, is $964,000. 20% down payment: 7% 10% down payment: 21% 5% down payment: 37% The median home price in Seattle, Washington, is $520,500. 20% down payment: 15% 10% down payment: 23% 5% down payment: 37% The median home price in Washington, DC, is $439,800. 20% down payment: 14% 10% down payment: 28% 5% down payment: 40%
Business Insider

Crypto Adoption: Binance Acquires WazirX Exchange To Expand Operations In India

Binance, one of the world’s largest exchange, announced on Thursday (November 20) that it had acquired WazirX, – a decision aimed at establishing a strong presence in India as well as fostering crypto adoption in the country not-so-welcoming to cryptocurrencies.  The deal will allow Indian traders to buy and sell cryptocurrencies using Indian Rupees as from November 25 after integration with the Binance Fiat Gateway. Binance Acquires India’s Largest Cryptocurrency Exchange According to The Economic Times India, Binance acquired WazirX – the largest peer-to-peer crypto exchange in India – for an amount ranging somewhere between $5 million and $10 million, to build fiat-to-crypto bridges for the more than 1 billion residents in India. Through this integration, traders will be able to buy tether ( UDST) directly from Binance exchange using Indian Rupee, which they can subsequently use to trade any cryptocurrency on the WazirX exchange. Speaking about this new acquisition, Binance CEO Changpeng Zhao said the firm’s main goal is to foster crypto adoption by “adding more fiat currencies to Binance and work with local partners to add as many fiat-to-crypto pairs as possible”. Notably, Binance has been on a spree to increase fiat-to-crypto operations in as many countries as possible. Over the last couple of months, Binance has already launched the fiat-to-crypto service in countries like Singapore, Jersey, United States, and Uganda. On his account, CEO of WazirX Nischal Shetty opined that the next phase of mainstream crypto adoption will start in developing countries like India and this Binance partnership will not be confined to the Indian crypto circle but will also help other developing countries that require fiat on-ramps.  As aforementioned, Indian authorities are quite hostile towards cryptocurrencies. India has followed the lead of other countries like China and Indonesia that have imposed harsh restrictions surrounding cryptocurrency trading. Case in point, in April 2018, India’s central bank, the Reserve Bank of India ordered all banks and other financial institutions to stop any operations with people dealing in cryptocurrencies. Now in July this year, an inter-ministerial committee formed by the Indian government proposed banning of cryptocurrencies, including jail terms and hefty fines for anyone caught selling, buying or mining virtual currency. However, none of this has happened yet, and Binance’s acquisition of WazirX could be a harbinger of more good things to come for crypto enthusiasts in India. The post Crypto Adoption: Binance Acquires WazirX Exchange To Expand Operations In India appeared first on ZyCrypto.
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