Morgan Stanley Upgrades AMD Says ‘Table Is Set Well’ For 2020

Morgan Stanley Upgrades AMD, Says 'Table Is Set Well' For 2020

A cautious stance on Advanced Micro Devices, Inc. (NASDAQ: AMD)
over the past year was "obviously" the wrong call but the "table is set well" for 2020, according to Morgan Stanley.

The Analyst

Morgan Stanley's Joseph Moore upgraded Advanced Micro Devices from Underweight to Equal-Weight with a price target lifted from $17 to $28.

The Thesis

Investors had reason to hold a bearish stance on AMD over the past year as the Street's estimates looked too high around graphics inflation, Moore wrote in a note. This scenario played out over the year as most of the Street's downward revision in estimates is due to graphics and a notable decline in the cryptocurrency industry.

Much has changed in AMD's favor, Moore said, including continued delays from rival products at Intel Corporation (NASDAQ: INTC) and Nvidia Corporation (NASDAQ: NVDA)'s heavy investments in ray tracing. As such, AMD faces an opportunity to enter an era of "sustained profits." AMD has multiple near-term catalysts to spur growth, including a cloud gaming opportunity where the company has a key advantage over rivals. Specifically, Nvidia is showing an interest in pursuing higher margin GeForce Now implementations and AMD boasts a strong relationship with console developers. Aside from gaming, AMD continues to seek "creative" ways of monetizing its graphics chips.

Price Action

Shares of Advanced Micro Devices were trading higher by 4.5 percent to $30.84 Thursday morning.

Article Produced By
Jayson Derrick

Benzinga Staff Writer

Why Bitpay Is Really Charging More for BTC Transactions

Why Bitpay Is Really Charging More for BTC Transactions


BTC Transaction Are Far More Expensive Than BCH

Bitpay has recently been attacked on social media for charging an extra fee for BTC transactions that it doesn’t ask of BCH users. The reality is that the company simply has to cover its operational costs related to the BTC network, whose fees are currently very high again.

Bitpay, the popular payment processor that enables merchants to accept bitcoin cash (BCH) and bitcoin core (BTC), has received flack recently from advocates of the latter cryptocurrency. The company is accused of charging an extra fee on BTC transactions in order to push users to choose BCH. However, Bitpay’s fee structure has not changed; it still charges just 1% to process transactions, and the Network Cost charge they refer to was first introduced back in early 2017. This Network Cost is a charge that helps the processor cover miner fees required for handling the payments. After a user pays an invoice and a miner fee on their side, Bitpay has to pay additional network fees on its side to move all its invoice payments so it can combine them for processing in something called an Unspent Transaction Output (UTXO) sweep.

Bitpay payment flowchart from customer to merchant

Bitpay explains on its support portal that if a Network Cost amount is calculated to be lower than $0.01 and less than 0.05% of the invoice price, the processor does not charge it. Thus BCH payments, which most often are well below this threshold, can appear to be exempt. It is important to note that BTC network fees are orders of magnitude more expensive than those for BCH. For example, at the time of writing, the current median fee for BTC is $2.61, which is over 2,300 times higher than the current median fee BCH of just $0.0011. This means that a payment of $10 with BTC can cost over 26% to handle in a timely manner while with BCH it is virtually 0%. With such big differences, no company accepting on-chain payments that needs to stay in business can be expected to ignore the issue for all possible sizes of transactions.

So Who Is Really Keeping Fees High?

The reason BTC fees are currently as high as they are is that the network is suffering from heavy congestion due to insufficient space to handle all transactions. If you are new to the cryptocurrency community, and are unfamiliar with the whole block-size debate, you might assume this is a problem that will be fixed in time. However, as far as bitcoin core advocates are concerned, this is a feature not a bug. They see high BTC fees as a way to push users on to their Lighting Network and want to eventually make on-chain transactions as rare and as expensive as “chartering an oil tanker.” All this points to bitcoin core advocates attacking Bitpay just for exposing the high fees they themselves are responsible for. This isn’t the first time they have targeted the leading payment processor due to its support of BCH, putting politics ahead of users’ best interests.

Article Produced By
Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.

Bitcoin Recovers From 2-Week Low But Price Outlook Remains Bearish

Bitcoin Recovers From 2-Week Low But Price Outlook Remains Bearish


Bitcoin’s (BTC) ongoing corrective bounce could be short-lived,


  • Bitcoin’s short-term outlook has turned bearish, courtesy of Tuesday’s UTC close below the 30-day average of price. A key daily and 3-day chart indicator is also indicating an end of the price rally from December lows.
  • Hence, BTC’s $400 recovery from 2.5-week lows hit on Tuesday could be short-lived. Prices risk falling to $7,000 over the next few days.
  • The hourly chart indicates the ongoing recovery may be extended to $8,000 before a potential slide toward $7,000.
  • A UTC close above the 10-day price average at $8,383 is needed to invalidate the short-term bearish setup.

Bitcoin’s (BTC) ongoing corrective bounce could be short-lived, as the charts are signaling a short-term bullish-to-bearish trend change. The premiere cryptocurrency is currently trading at $7,822 on Bitstamp – up almost $400 from the low of $7,432 hit yesterday. However, Tuesday’s UTC close below the 30-day moving average (MA) may embolden sellers, putting the sustainability of the gains in doubt.

The 30-day MA has served as strong support throughout the rally from early February lows near $3,500 to the recent high of $9,097. Essentially, BTC created multiple bullish higher lows along that line over the last four months, as discussed yesterday. Now, the short-term outlook has turned bearish with the first UTC close below the average since Feb. 8. Other widely-tracked technical indicators are also signaling a trend change in favor of the bears.

Daily chart

The 14-day relative strength index (RSI) has dived out of the rising trendline representing a rally from December lows near $3,100, and is now teasing a drop into a bearish territory with a reading below 50.00. Further, the 5- and 10-day moving averages have produced a bearish crossover. The Chaikin money flow index – which takes into account both the price and trading volumes – is losing altitude, a sign of weakening buying pressure.

The price action seen at press time also indicates that the tide has turned, with BTC struggling to register big gains above the 30-day MA, currently at $7,772. That BTC is revisiting the 30-day MA hurdle is not surprising, as markets tend to crowd out weak hands (buyers in this case) before falling on price breakdowns/breakouts. Overall, the cryptocurrency looks set to test the psychological support of $7,000 over the next few days.

3-day chart

On the 3-day chart, the RSI has rolled over from overbought levels above 70, signaling scope for deeper correction. The indicator diverged in favor of the bears (lower highs) earlier this week. The Chaikin money flow index is also beginning to lose altitude on this time-frame. Thus, BTC risks falling to the 200-candle MA, currently flatlined at $7,211.

Hourly chart

The hourly chart tells a slightly different story, reporting a bullish divergence (higher lows) of the RSI. So BTC may extend its recovery to $8,000, before a potential slide toward $7,000, as suggested by the daily and 3-day charts. The short-term bias will remain bearish as long as prices are held below the 10-day MA, currently at $8,383.The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.

Article Produced By
Omkar Godbole

Omkar Godbole is the market reporter for CoinDesk, the global leader in blockchain news, where he produces technical chart-based price updates on Bitcoin and other alternative currencies.

EU: Malta Needs to Improve Readiness to Respond to Cryptocurrency Crime

EU: Malta Needs to Improve Readiness to Respond to Cryptocurrency Crime


The European Union has told Malta it needs to improve the resources

it has to fight potential financial crime as a result of cryptocurrency popularity, local daily news outlet Malta Today reported on June 5. In a letter to member states advising how to spend EU funds, the European Commission flagged Malta’s burgeoning cryptocurrency sector as a potential weak link in the fight against financial crime.

“The Commission, in its recommendations to member states for the use of EU funds, said that the size of Malta’s financial and gaming sector, and the efforts to attract crypto-currency operators required an effective anti-money laundering enforcement,” Malta Today summarized. Additionally, possible conflicts of interest in government should be addressed regarding corruption, while tax obligations should also be reassessed. “Furthermore, the police’s Economic Crimes Unit is currently understaffed,” the Commission added.

It continued:

“In this context, it is important to couple a strengthened legislative framework with timely and thorough implementation.”

Malta continues on its path to create a haven for cryptocurrency and blockchain businesses. As Cointelegraph reported, some of the industry’s biggest names, including exchange Binance, have made the country their home under the government’s highly-publicized “Blockchain Island” plans. At the same time, authorities are getting to grips with controlling the sector, creating both vetting structures and releasing information for consumers, such as the risks associated with crypto asset investment. Silvio Schembri, Junior Minister for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister of Malta, wrote a dedicated article for Cointelegraph last month in which he discussed the current state of the “Blockchain Island” project.

Article Produced By
William Suberg

William Suberg got into Bitcoin while completing his Masters degree and hasn't looked back since, writing about anything crypto-related which makes him sit up and pay attention. He started working with Cointelegraph in October 2013.


Indian Bitconnect Promoter on the Run After Third Crypto Scam

Indian Bitconnect Promoter on the Run After Third Crypto Scam

                                     Bitconnect, Scam, Bitcoin Scam

A scammer who solicits investments with the lure of rich returns is on the run in India.

By CCN: Another cryptocurrency scam, same fraudster. Police in India’s city of Surat have implicated infamous BitConnect promoter Divyesh Darji in yet another cryptocurrency scam. According to The Times of India, Darji was involved in promoting a cryptocurrency known as Regal Coin to investors by promising them astronomical returns. Darji who was arrested last year in August for his role in the BitConnect scam has been facing trial. However, he is currently on the run after being released on bail. Per India’s Crime Investigation Department (CID), Darji promised investors returns of up to 5,000 percent if they put their money in Regal Coin. Specifically, Darji promoted the cryptocurrency as a superior investment compared to Bitcoin as payouts would start within 99 days. Investors would also earn extra money from recruiting other investors,

according to the CID:

Darji had told his investors that they needed to stay invested just for 99 days. He also promised to pay them returns on their principal according to profits on robotic trading, besides 1% to 1.6% referral bonuses every 11 days.

Prolific fraudster: two more crypto scams since bitconnect

It is understood that Darji was working in concert with some family members as well as aides. The daughter, Purohit, has been arrested. Some of the victims who have filed police reports lost between Rs 10.50 lakh ($15,000) and Rs 17.50 lakh ($25,000). Besides BitConnect and now Regal Coin, Darji has also been implicated in another cryptocurrency scam involving the Dekado coin. This emerged after a victim who lost Rs 48 lakh (approximately $70,000) filed a report with the police in January. Darji implicated in yet another scam | Source: TwitterThe Dekado coin scam promised investors returns of between 42 – 72 percent within a period of six months. And just like with other cryptocurrency scams Darji has been involved in, recruiters were also awarded referral bonuses.

What Darji’s scams have in common

While the cryptocurrency scams that Darji has been implicated in bear different names, they all follow the same script. This includes the incentives offered to lure investors (high and unrealistic returns) and methods of recruitment (referral bonuses). Additionally, while Darji is allegedly guilty of defrauding Indian residents, the companies behind the scams have all been registered abroad.After words, numbers are my other love… mostly when they are going up and they have nothing to do with taxes or expenses. That makes green my favorite color!

Article Produced By
Mark Emem

After words, numbers are my other love… mostly when they are going up and they have nothing to do with taxes or expenses. That makes green my favorite color!

French Gov’t Minister Open to Enabling Crypto Donations for Notre Dame

French Gov’t Minister Open to Enabling Crypto Donations for Notre Dame


France’s Minister of State for the Digital Sector, Cédric O,

has said he is open to cooperating with cryptocurrency platforms to enable crypto donations for the reconstruction of the Notre Dame cathedral. The news was reported by Bloomberg on April 17. The medieval cathedral suffered a blaze on April 15 that nearly destroyed the world-renowned landmark. Within just two days, donations for the monument’s reconstruction are reportedly approaching 900 million euros (over $1 billion). Cédric O — whose ministry works under the aegis of France’s Minister of Economy and Finance, Bruno Le Maire — noted that the government’s newly-launched website for Notre Dame donations was created extremely quickly and does not as of yet support contributions in cryptocurrencies.

The official site currently links to four approved organizations that are collecting donations for the reconstruction, but Cédric O stressed the government is “open to discussing with others” to help drive the fundraising efforts. The minister said the same conditions would apply to crypto donations as those for fiat currencies — organizations must not charge commissions, data should be collected for tax deductions and the funds should ultimately be routed via one of the four approved organizations.

Major global crypto exchange Binance also launched its own crypto donation program to support reconstruction of the cathedral this week, as reported. The new donation channel is hosted on Binance’s charity platform, which was launched as an initiative of the The Blockchain Charity Foundation (BCF). Earlier this week, Bruno Le Maire affirmed that blockchain technology is a priority for his country’s government. He highlighted the crypto and blockchain regulatory progress heralded by the PACTE Act, which was passed by the French National Assembly earlier this month.

Article Produced By
Erica Borges

Ethereum Consortium Launches Token Initiative With Microsoft JPMorgan Chase Others

Ethereum Consortium Launches Token Initiative With Microsoft, JPMorgan Chase, Others



The Enterprise Ethereum Alliance (EEA) has launched a blockchain-neutral Token

Taxonomy Initiative in partnership with major firms, according to a press release from EEA on April 17. The initiative will seek to define tokens in non-technical and cross-industry terms in a bid to drive enterprise token adoption at scale. The EEA describes itself “a member-driven standards organization whose charter is to develop open, blockchain specifications that drive harmonization and interoperability.” Members of the initiative reportedly include global consulting firm Accenture, major banks Santander and JPMorgan Chase, blockchain incubator ConsenSys, Big Four auditor EY, tech giants Intel, Microsoft and IBM, blockchain consortium R3, international think-tank The Blockchain Research Institute, blockchain r&d firm Clearmatics and others.

The new Token Taxonomy Initiative will aim to establish a shared set of terms and definitions for tokens — whichever blockchain they derive from — as a cornerstone for businesses and developers. Standardization, the EEA’s director Ron Resnick argues, can unlock the frictionless use of tokens “to serve as, or provide access to, a set of goods, financial assets, securities, services, value or content” within enterprise-grade blockchain applications.

As well as clarifying the concept and scope of the token model, the initiative will seek to address use cases, taxonomy and terminology and technical specifications. To this end, the project will aim to establish technical standards that can counter fragmentation between multiple blockchain protocols and ensure interoperability between platforms and use cases — whether the tokens serve currency-like purposes or represent unique assets. The initiative will be structured to include a Token Taxonomy Framework accompanied by an educational initiative, which will be run through structured Token Definition Workshops.

As previously reported, the EEA — which counts over 500 members — is engaged in ongoing token standards work, which began with a focus on Ethereum (ETH) specifications. In fall 2018, Hyperledger and EEA announced their mutual associated membership. The organization extended its global outreach by opening a regional office in China this February. That same month, the EEA announced it would be launching a so-called “token task force,” to be focused on ETH-derived fungible ERC-20 and non-fungible ERC-721 tokens.

Article Produced By
Erica Borges

Crypto Mixer Bitcoin Blender Shuts Down Its Service

Crypto Mixer Bitcoin Blender Shuts Down Its Service

Facebook Will Roll Out GlobalCoin in 2020 And Wants Everything To Be Perfect


Facebook Will Roll Out “GlobalCoin” in 2020 And Wants Everything To Be Perfect


Facebook is still determined to dominate the world of cryptocurrencies.

Months after creating a blockchain division, the efforts of this team seem to be bearing fruit and the famous “Facebook Coin” already has a name and estimated release date.According to a report published by BBC, the cryptocurrency will be named “GlobalCoin” and will be available for use in a dozen unidentified countries by Q1 2020.

GlobalCoin: The new Stablecoin Created by Facebook to Disrupt the Crypto Ecosystem

Although GlobalCoin will be powered by blockchain technology, it will not be a typical volatile cryptocurrency, instead, it will be pegged to a basket of fiat currencies including dollars, euros, british pounds and other similar currencies. Facebook’s strong secrecy regarding this project may also be nearing its end as they are expected to provide more details about the currency this summer. Facebook has been working hard on the development of GlobalCoin. In addition to hiring a significant number of former PayPal employees, the team has engaged in conversations and consultations with various strategic entities including the Bank of England and the US Treasury.

Also, Facebook has been talking to an undetermined number of exchanges to promote trading and adoption of its cryptocurrency. Among the exchanges contacted one worthy of mention is Gemini, which was created by its former partners, the twins Winklevoss, with whom Mark Zuckerberg previously had legal disputes.Facebook is also in conversations with companies specializing in money remittances to facilitate the conversion of GlobalCoin into fiat local currency without going through traditional banking procedures. Western Union is one of the companies contacted by Facebook according to the BBC.

Not Everyone is Too Happy About This Idea

Facebook’s idea of developing a cryptocurrency raised several alarms, especially because of recent scandals that revealed how social media behemoth had irregularly obtained and marketed private information from its users. In an open letter addressed to Zuckerberg earlier this month, the US Senate and Banking committee asked Facebook’s CEO to clarify certain doubts about this initiative, showing that the project is in

the government’s sights:

“The Wall Street Journal recently reported that Facebook is recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system using its social network. Last year, Facebook asked U.S. banks to share detailed financial information about consumers. In addition, privacy experts have raised questions about Facebook’s extensive data collection practices and whether any of the data collected by Facebook is being used for purposes that do or should subject Facebook to the Fair Credit Reporting Act”.

So far, Facebook has refused to provide any kind of comment

Top 4 Ways to use Bitcoin and Other Cryptocurrencies in 2019

Top 4 Ways to use Bitcoin and Other Cryptocurrencies in 2019


Despite the obvious appeal cryptocurrencies have to the majority of the community,

there are still a lot of people who don’t see the added benefits. While it is evident Bitcoin and altcoins are speculative first and foremost, there are other numerous use cases to look into as well. Even in 2019, those use cases have not changed all that much, but it is crucial to remind onlookers as to what these currencies can achieve.

Buying Stuff Online With a Potential Discount

Perhaps the most obvious use case for Bitcoin and altcoins outside of speculation and trading is spending it like a currency. There are many ways to spend one’s cryptocurrency on goods and services regardless of one’s locations around the world. Especially when one doesn’t mind jumping through a few hoops, there isn’t much that can’t be bought with Bitcoin, either online or in-store. It may take some effort, but a potential discount of 5% or more does require some input from the end user. Especially when it comes to the many different gift card providers accepting cryptocurrency payments, the sky is virtually limit. Services like Gyft make it easy to spend Bitcoin – albeit indirectly – at hundreds of retailers whenever one wants to do so. Other intermediary services allow users to buy anything online with cryptocurrency, as long as the vendor ships to the customer’s country. It works quite well, although not everyone likes to rely on additional third-party service providers for buying goods on the internet.

Sending Money Globally

While it might be perhaps the obvious use case for cryptocurrency, it is also one of those aspects people are seemingly far less interested in these days. Bitcoin, as well as the major cryptocurrencies, can easily be transferred around the world as a solution to replace traditional money and bank transfers. Since anyone with an internet connection can get involved in cryptocurrencies, it is more accessible than traditional banking with far fewer requirements to contend with. Especially now that services such as Telegram and WhatsApp bots with cryptocurrency support are becoming more common, things will undoubtedly get very interesting. One has to keep in mind most of these services are limited to just Bitcoin, although it doesn’t take much effort to ask for one’s wallet address either. Further streamlining this process is a necessity to achieve mainstream adoption, but things are progressing rather nicely.

Lending Services for Passive Income

Another logical option to use Bitcoin and other cryptocurrencies is to let them accumulate more coins in a passive manner. While most of the top currencies do not support staking to increase holders’ balances, the lending services on the market make this process a lot more straightforward. Depending on one’s currency, users can often pocket between 0.5% and 8% interest per annum these days. It is more than one would get for keeping funds in a savings account. Albeit there are many different cryptocurrency lending services these days, users are still relying on third-party providers for this specific business model. There is nothing wrong with doing so by any means, but it all comes down to whether or not the company is a custodian of user funds. Assuming that is not the case, it is definitely an option worth looking into to earn some passive income. However, just buying cryptocurrency to get in on the lending action is not necessarily an advisable course of action.

Freelance Work and Bitcoin Wages

Last but not least, there are hundreds, if not thousands of freelancers active in countries where traditional banking services are hard to come by or simply cumbersome to use. Additionally, there are plenty of people who work for international companies or employers. Finding a suitable payment method which works across borders without incurring high fees is something that will benefit everyone involved. Even for those companies who do not want to get involved in cryptocurrency directly, there are viable alternatives. Using services such as Bitwage allows companies and employers to use traditional payment methods, whereas the recipient can convert the payments to Bitcoin as they see fit. Thanks to services like these, freelancers all over the world can get in on the Bitcoin action and not cause any major headaches for employers along the way.

Article Produced By
JP Buntinx