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Crypto Markets News from John Lothian News – June 8, 2018

crypto markets update 2

Quebec Halts Bitcoin Mining Power Requests Amid Booming Demand
Frederic Tomesco – Bloomberg
Canadian utility says demand exceeds short-term capacity; Quebec takes measures to avoid need for rate increases
Hydro-Quebec will temporarily stop processing requests from cryptocurrency miners so that it can continue to fulfill its obligations to supply electricity to the entire province.
/jlne.ws/2sLvgHi

Bitcoin trading rules leave Plus500 to make an educated guess; New trading limits may prove tough test for would-be ‘professionals’
Matthew Vincent – FT
Attention all bitcoin traders with Plus500 and CMC Markets! A new study from Warwick Business School has found that: “Cryptocurrency prices are not influenced by any economic factors and instead are driven purely by the mood swing of investors?.?.?.?research studying the weekly trading patterns of 14 of the largest cryptocurrencies, including bitcoin?.?.?.?found no correlation with any economic indicators?.?.?.?pricing is entirely influenced by past returns?.?.?.?hype and emotion.”
/jlne.ws/2kTumoC

Tokens all the way down
Dan McCrum
Read more articles in SOMEONE IS WRONG ON THE INTERNET SERIES
Today in solutions searching for problems, Blackmoon claims to be “the first company in history to tokenize an IPO”.
/jlne.ws/2kUC1TR

Mizuho Financial’s Blockchain Lead Is Leaving the Firm
Daniel Palmer – Coindesk
The blockchain lead at Mizuho Financial Group has revealed he is leaving the firm, according to an internal email obtained by CoinDesk.
Ikuma Ueno, senior digital strategist at the Japanese banking giant, said in the leaving message to colleagues that he will depart on June 13 to take up a new role in Singapore later this year.
/jlne.ws/2LArAjH

CFTC Commissioner Hails Digital Assets As A ‘Modern Miracle’
Ollie Leech – Cryptovest.com
In his emphatic address to the members of the Blockchain For Impact summit, Behnam opened with a retrospect of the creation of the United Nations, and how at the time the world was entering into a new age of global transformation. Now, he believes, we are witnessing a new era of change and “virtual assets are just the beginning”.
/jlne.ws/2Ly8OJy

You Don’t Have to Own Crypto to Make Money Off of It
Rob Urban – Bloomberg
To make his fortune on cryptocurrency, Jake Benson doesn’t have to choose a winner among the hundreds of firms hawking digital tokens. He just needs to do their taxes.
Benson is following the ’49er model — as in 1849. Like industrious shopkeepers during the California Gold Rush, he’s offering the digital equivalent of picks and shovels. In his case, accounting services.
/goo.gl/P6jx2c

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About Author

Bergstrom is chief information officer of John J. Lothian & Co. He edits MarketsWiki and JLN Options.