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“Ripple has a lot of potential and the cryptocurrency technology is important”: Siam Commercial Bank CTO

Akash Anand

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"Ripple has a lot of potential and the cryptocurrency technology is important": Siam Commercial Bank CTO
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The Ripple Swell 2018 event saw a lot of luminaries from various fields speak about the effects of blockchain technology and cryptocurrencies. The roster included former American President Bill Clinton, officials from Ripple as well as Colin Dinn, the CTO and Head of Operations of Siam Commercial Bank [SCB].

The CTO spoke about how the partnership with Ripple has earned dividends by making a traditional institutional like Siam into a modern financial force to be reckoned with.

Dinn stated that one of the main reasons SCB partnered with Ripple was because the banking behemoth wanted to explore new technologies to further the ease of transactions in the financial sector. He was candid in stating that SCB did not fully understand the workings of blockchain technology but jumped on board because of the sheer potential it saw in Ripple and the fintech industry as a whole.

Dinn added that the bank liked the concept of blockchain as a whole and the association with Ripple gave an added dimension to the fast-growing financial sector.

The SCB official also stated that banks need to keep up with up and coming technologies and went so far as to say, “in the next couple of years it will be very hard for banks to exist”. He said that that Ripple and SCB had a shared vision to grow aggressively and to create a model where anything can be fixed easily if something goes wrong. Din further stated:

“Our main aim is to simplify the movement of payments and the partnership with Ripple has changed the way they operate. We don’t just want to revolutionize the remittances to Thailand but rather create a whole new system for money to move.”

The tie-up between Ripple and SCB has been creating news recently when the cryptocurrency company announced that they would be launching a new feature for RippleNet known as multi-hop payments. This effectively means that customers on RippleNet will have eliminated the need for a direct one-to-one connection to settle payments. The feature was pioneered to combat the inefficient management of global liquidity.

The announcement by Ripple stated:

“Using multi-hop, SCB will be able to receive and forward on a payment without a bilateral relationship between the originator and beneficiary institutions”

Altcoins

Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb on the bull after price stays locked down

Akash Anand

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Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb the bull after price stay locked down
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The cryptocurrency market’s bearish woes do not seem to have waned with several popular coins seeing a continuous price downturn. Bitcoin [BTC], XRP, and Ethereum [ETH] have only enjoyed sporadic bullish spikes with a definite control being exerted by the bear.

1-hour

The one-hour BTC chart shows the gradual drop in prices. The support has been holding at $3214.17 while the resistance is maintained at $4160.21. The recent downtrend took the prices down from $3558.58 to $3367.97.

The Relative Strength Index shows a slight spike towards the overbought zone. This means that the buying pressure is increasing slightly more than the selling pressure.

The Bollinger band shows a clear divergence with the upper band and the lower band indicating an imminent sideways price movement.

The Parabolic SAR has been predominantly bearish with the markers staying above the markers. At the time, the SAR indicators were below the price candles which is a bullish sign.

1-day

The one-day chart for Bitcoin does not paint a better picture for the cryptocurrency with no uptrends in sight. The long-term support has been holding at3346.6 while the recent downtrend saw the price fall from $6262.97 to $3408.

The MACD indicator shows the MACD line and the signal line moving as a conjoined pair. Other than the bearish dip, the MACD histogram has been undergoing a lull.

The Chaikin Money Flow indicator is just below the zero line, which is a sign of the money flowing out of the market being more than the money coming into the market.

Conclusion

The above-mentioned indicators all point to an extended bear run with the prices still being clamped below the $4000 mark. With the year coming to a close, the predicted bull run does not seem to be occurring anytime soon.

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Nouriel Roubini has a new bone to pick with Morgan Creek Digital founders as they invested in “scam of the year”

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Nouriel Roubini has a new bone to pick with Morgan Creek Digital founders as they supposedly invested in "scam of the year"
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Seems like the feud between Mark Yusko, Anthony Pompliano and Nouriel Roubini continued after the “Buffet Bet 2.0” but on a different front. Nouriel Roubini said that Mark W. Yusko, who is the founder of Morgan Creek Digital, invested in fraud of the year and escalated the matter even more.

Mark Yusko was “psyched” as he announced the purchase of Blockchain Terminal for Morgan Creek Digital, from BCTerminal.

Nouriel Roubini being himself, retweeted Mark W. Yusko’s tweet saying that Yusko just invested in the “scam of the year”.

He referred to recent fiasco of Blockchain Terminal ICO, which was led by a man who everybody believed was named Shaun MacDonald but turned out to be a former hedge funder named Boaz Manor, who was sentenced to prison in 2012 for fraudulently running an $800 million hedge fund.

Nouriel referred to this scam in his tweet and said:

“Brilliant @MarkYusko U just invested into the scam of the year. All this after losing 80+% for your investors this year in your crypto shitcoin fund! Good you moved from one failure to the next! Keep digging in that cesspool now with a shitcoin terminal!”

To Roubini’s tweet, Yusko quickly retaliated saying that they never invested in the company but only “demo’d” the terminal just like everyone else.

Anthony Pompliano also tagged along and tweeted:

“No one invested in the company from Morgan Creek. You’re wrong….again.
Just like your call to sell Bitcoin at $58.
You teach at a university that riddles students with crippling debt in exchange for a worthless piece of paper.
What’s the real scam here??”

A Twitter @Cryp_tim user replied:

“And again he gets what he wants. What he is yelling for.He needs it like air to breath. He’s addicted to attention. Please don’t give this guy what he needs. It’s obvious that he is knowingly spreading nonsense and half-truths.He wants to play a role but he is obsolete.ignore him”

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