Common Reasons for Grant Application Rejections in the United States

Securing grant funding can be a game-changer for individuals, organizations, and communities in the United States of America. Grants offer financial support for various causes, from education to healthcare, environmental initiatives to nonprofit organizations.

However, many grant applicants face the disappointment of rejection due to various reasons. In this blog post, we will explore some common causes of grant application rejections in the USA and provide valuable insights to help you increase your chances of success.

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Common Reasons for Grant Application Rejections
Incomplete or Inaccurate Applications: One of the most prevalent reasons for grant rejection is submitting an incomplete or inaccurate application. Granting agencies require comprehensive and precise information. Ensure that you provide all the necessary documentation, and double-check for accuracy before submission.

Misalignment with Grant Objectives: Many applicants fail to align their proposals with the goals and priorities of the granting organization. It’s essential to thoroughly research the funder’s mission and objectives to ensure your proposal matches their vision.

Lack of Clear Goals and Outcomes: Grant applications that lack clear, measurable goals and expected outcomes often face rejection. Be specific about what you aim to achieve with the grant and how you will measure success.

Budgetary Inconsistencies: Poorly structured budgets, unrealistic financial plans, or a lack of detailed budget justifications can lead to rejection. Ensure that your budget aligns with the project’s goals and provides a clear breakdown of expenses.

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Strategies to Avoid Rejection and Increase Success
To improve your chances of securing grant funding in the United States, follow these strategies:

Thorough Research: Invest time in researching the grantor’s objectives, past grant awards, and review criteria. Tailor your application to address their specific needs.

Clear and Concise Writing: Write a compelling and concise proposal. Avoid jargon and technical language, and ensure that your proposal is accessible to reviewers with diverse backgrounds.

Engage with Grantors: Establish a relationship with the granting organization, attend their informational webinars, and seek their feedback if possible. This can help you understand their expectations and strengthen your application.

Peer Review: Have peers or mentors review your proposal. Their insights can help identify weaknesses and areas for improvement.

Proofread and Edit: Eliminate grammatical and typographical errors. A well-edited application demonstrates professionalism and attention to detail.

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Grant application rejections can be disheartening, but understanding the common pitfalls and adopting effective strategies can significantly improve your chances of success. Remember to conduct thorough research, write a compelling proposal, and seek feedback from peers and mentors. By avoiding the common reasons for grant rejections, you can increase your likelihood of securing the financial support you need to make a positive impact in the United States.

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In this post, we’ve provided you with a few essential tips and strategies to help increase your chances of grant application success. However, it’s important to note that each grant application is unique, and there are many factors that can influence the outcome. Therefore, always refer to the specific guidelines provided by the granting organization and tailor your application accordingly.

Best of luck with your grant applications!

Bitcoin Mining Exec Reveals the Key to Sustaining Cryptos Future | CCN Markets

It’s no secret that mining bitcoin consumes an extraordinary amount of energy—in fact, more than the entire country of New Zealand.

Such a level of energy consumption is not only a problem for the existential issue of climate change, but also threatens the sustainability of the entire bitcoin (and crypto) economy. If bitcoin mining becomes too costly from an environmental and economic standpoint, the whole network could have a real crisis on its hands.

Fortunately, miners are doing something about it by leaning into renewables.

Why Bitcoin Matters

There’s a good reason why acquiring BTC requires so much work. | Source: Shutterstock

Satoshi Nakamoto’s introduction of Bitcoin as a peer-to-peer electronic cash system in 2008 set off the next 10 years of innovation in distributed technology and cryptocurrencies. If it weren’t for bitcoin, we probably wouldn’t have ICOs, STOs, crypto exchanges, and CryptoKitties.

The reason bitcoin was so revolutionary was because, for the first time in internet history, reliance on third-party intermediaries (banks) to validate transactions between entities was eliminated.

Ramak J. Sedigh, CEO of Plouton Mining, explains why the bitcoin industry must embrace renewable energy.

Bitcoin is often compared to gold because, like the precious metal, there is a limited number of bitcoins that can ever be created, and acquiring bitcoin requires a significant amount of work.

Hence, the term “proof-of-work” (POW), referring to Bitcoin’s block validation process wherein miners must compete to solve an incredibly complex math problem. The first to solve the problem earns bitcoin as a reward for performing this essential function for the network.

The Cost of Bitcoin Mining

As long as the economic incentive exists, there will be plenty of miners to keep the network chugging along. But the network could be in trouble if bitcoin’s value plummets at the same time the cost of mining increases.

Although bitcoin’s value is currently rising, its value has been volatile relative to fiat currencies, rising to a high of $20,000 in December of 2017, only to drop as low as $3,000 in December of 2018.

The fluctuating price of bitcoin places more weight on the cost of mining, which has risen in-line with the expansion of the network (the more miners there are and fewer bitcoins available, the tougher the competition and more work necessary to acquire bitcoins).

As mining BTC becomes more difficult, it also becomes more expensive. | Source: Blockchain.com

A recent CoinShares report found that bitcoin mining consumes about 4.7GW of power every second, roughly 2.2TWh more than the country of New Zealand. The comparison illustrates the level of Bitcoin’s energy consumption problem (no small matter).

Other POW blockchains, such as Ethereum, aim to address the issue by switching to proof-of-stake (POS) systems; however, there has been debate as to whether (POS) is truly as secure or decentralized as (POW), which has been challenged and survived since its inception. POS, on the other hand, is still a very new concept.

CoinShares CEO Ryan Radloff recently expounded upon the benefits of bitcoin (BTC) over other cryptocurrencies, saying that “BTC is a better and more resilient base layer than Ethereum.”

If Radloff is right in his estimation that bitcoin is the holy grail and all other applications enabled by the underlying technology are essentially “[by-products] of a successful monetary base,” then it’s incumbent upon the Bitcoin network to sort out a way of sustaining itself, or the entire crypto industry could be in jeopardy.

This is where the importance of renewable energy comes into the picture.

Renewables to the Rescue

There is an opportunity for regions rich in hydro, wind, and sunshine to leverage these energy sources to their advantage. | Source: Shutterstock

CoinShares’ biannual mining report shows that 74 percent of the power on the Bitcoin mining network comes from renewable energy sources, “making bitcoin mining more renewables-driven than almost every other large-scale industry in the world.”

By embracing renewables, bitcoin mining lessens the environmental impact, while also improving the economic viability of the Bitcoin network as a whole, as many renewable energy sources are now more affordable.

Hydroelectric power comprises the primary renewable energy source for miners, particularly in Southwest China, the Caucasus, Scandinavia, and the Pacific Northwest. Wind came in second according to the study, with solar-powered mining operations still relatively rare.

There is an opportunity for regions rich in hydro, wind, and sunshine to leverage these energy sources to their advantage. For example, some mining operations are looking to build facilities in various African countries where high electricity prices previously made mining cost-prohibitive. Solar and wind-powered facilities could change that.

For any operation reliant on cheap electricity from utilities for peak hours, there is a danger of the Public Utilities Commission (PUC) voiding the contract and putting the mining operation out of business. This risk underlines the importance of peak hours self-sufficiency, which can be achieved via solar power. Solar power may be especially feasible in regions such as Southern California where conditions are ideal for maximum electricity production.

The Big Picture for the Crypto Industry

By embracing renewable energy, bitcoin miners will forge a path towards a more sustainable crypto economy. If we are to have a real chance of preparing for the impacts of climate change, let’s hope other industries follow in our footsteps.

About the Author: Ramak J. Sedigh, CEO of Plouton Mining, has been a life-long entrepreneur across many industries who is bringing his multi-disciplinary talents and track record of success to building N. America’s largest solar-powered bitcoin mining operation in Western Mojave California. Ramak began his professional life in the real estate industry by building a 1900-unit apartment portfolio in the late 1980s. Later, he started, built and sold a successful online tenant screening service with one of the early nationwide criminal databases in the US. Ramak has a BS in Political Science from the University of Houston.

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Dow Rallies 7.2% in June: Trade Talks Resume, Market Sentiment Surging

As the U.S. and China resume trade talks following the highly anticipated G20 summit, the Dow Jones and the rest of the U.S. equities market have shown strong recovery.

In the past 30 days, the Dow Jones has rebounded from 24,819 points to 26,599 points, recording its best June in 81 years.

The U.S. has paused the imposition of additional sanctions on Chinese goods and China is set to begin purchasing American farm products in the upcoming days, opening the conversation for a potential comprehensive trade deal.

Full trade accord unlikely but improving sentiment likely to fuel Dow Jones

Due to intensifying geopolitical risks, major economies in the likes of Australia and the eurozone have either already cut their benchmark interest rates or are planning to do so shall the slowdown of global economic growth continue.

On June 9, Reuters reported that European Central Bank (ECB) policymakers are open to dropping its policy rate if the eurozone struggles to revitalize as a result of the trade war.

“If inflation and growth slow, then a rate cut is warranted,” one source told Reuters.

With major economies gearing toward a rate cut in the near term, strategists including Evenflow Macro’s Marc Sumerlin said that the Fed is too tight and that a rate cut is expected to occur in July.

The expectations of a rate cut in the upcoming weeks and improving sentiment around the trade talks between the U.S. and China could act as catalysts for the ongoing rally of the Dow Jones and U.S. stocks in general.

Stephen Guilfoyle, President at Sarge986 LLC, said in an interview with Fox Business:

“Drivers [of the rally] would be a change in the perceived trajectory for monetary policy, coupled with a bit of optimism in renewed negotiations with China.”

However, there is opposition in resuming trade talks from both Democratic and Republican representatives due to the involvement of Huawei as a part of the deal.

A WSJ report said that U.S. President Donald Trump will allow U.S. companies to sell high-tech equipment to Huawei once again, which would effectively allow the firm to utilize various hardware and software that are crucial in building its smartphones and other popular appliances.

The ban imposed on U.S. companies from working with Huawei does not affect Huawei’s 5G technology, but it creates a difficult environment for the Chinese conglomerate to sustain the sales of its flagship devices that have started to obtain a large market share on the global stage.

“If President Trump has, in fact, bargained away the recent restrictions on #Huawei, then we will have to get those restrictions put back in place through legislation. And it will pass with a large veto-proof majority,” Senator Marco Rubio said.

Fears about U.S. stocks

The major concern of strategists in recent weeks amidst one of the strongest monthly rallies for the Dow Jones is that the upside movement may not be sustainable throughout the near to medium term.

Some worry that the trade talks are priced into the market. And with investors expecting the discussions to potentially last a long time, only a comprehensive trade deal would significantly improve the sentiment around the Dow.

Still, the momentum demonstrated by U.S. stocks in June has been strong in comparison to the latter half of 2018. And with President Trump continuing to place pressure on the Fed, there are hopes that a rate cut, even a minor change in policy, would improve the state of the market.

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Bitcoin Has Been on Fire but Altcoins Haven’t Joined the Party – Yet

Bitcoin is on fire this year but you can’t quite call it a “crypto comeback”… just yet, as The Wall Street Journal points out. Investors are starting to doubt a corresponding return in alternative cryptocurrencies, and for good reason. Altcoins are still well off their 2017 highs. Many alts have, in fact, gone to zero while their more established cousins try to recuperate some of their more than 70% losses.

Bitcoin has recovered more than half its losses. | Source: WSJ/CoinMarketCap

Bitcoin, on the other hand, is the only asset to have recovered more than 50% of its losses to date. Until other established names follow its big brother back into more familiar territory, it’s still a one-man show.

Bitcoin Dominance Approaching Multi-Year Highs

Bitcoin market dominance has done a complete u-turn since early 2018 when it featured only 32% of the total market capitalization of the industry. This, at least, according to CoinMarketCap’s records, which track 2,000 different cryptocurrency valuations on a daily basis.

As the Wall Street Journal reports, that figure has steadily risen to 62% this year, almost doubling in less than a year and a half. The last time bitcoin was this dominant was in the middle of 2017 when investors were greedily plowing their money into altcoins.

 

From the looks of it, you could probably even trade the dominance chart itself. Technically, the current breakout from 2017 highs suggests that bitcoin’s dominance may actually continue.

Crypto Comeback: A Rising Tide Lifts All Boats

Will altcoin season ever return? The jury is still out. Bitcoin maximalists are having a field day on social media speculating that altcoin season take-two won’t ever materialize. Of course, anything can happen in Crypto Land and it usually does. After all, the term ‘maximalist’ probably wouldn’t have come into being if it wasn’t for 2017’s crazy altcoin run.

Sorry maximalists. I love BTC but I don’t want a future where it’s the only option. #defi #smartcontracts #nfts

— Brian McMichael (@brianmcmichael) June 30, 2019

The theory goes that in a stable investment climate, not unlike stocks, investors will start allocating their resources into riskier assets. From low to high:

Cash > Bitcoin > Alts

As they become more cautious panic, they’ll move in the opposite direction. It’s simplistic, but it makes a lot of sense. Bitcoin and to a lesser extent Ethereum are gateways into the alt world. It’s quite possible that we’ve now reached that point. As bitcoin recovers and stabilizes, market participants may once again feel comfortable enough to roll the dice on the next big thing.

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West African Nations Unveil a New Single Currency Without Blockchain

In a potentially risky move, the 15 member nations of ECOWAS – Economic Community of West African States –  have agreed to launch Eco, a “common currency” similar to the method the EU uses. Eco is expected to make its debut in January 2020. In an attempt to create more frictionless trade, West African leaders are hoping to give a much-needed boost to many of the smaller economies in the region.

The crypto community was quick to point out that Eco isn’t a digital currency and it is not built on the blockchain. 

West African nations announce a new currency called Eco.

If only it were digital, and on a blockchain. https://t.co/0uQr4oeno2

— Emin Gün Sirer (@el33th4xor) June 30, 2019

West Africa’s Eco Has Nothing To Do With Crypto 

Sorry cryptocurrency fans, Eco is not a digital coin offering. Instead, it is a regular old fiat currency, and there has been no indication whatsoever that it might incorporate blockchain technology. 

Eight ECOWAS Members Already Use A Single Currency

Naturally, when making a currency move of this scale, there are definite problems to overcome. The first of these is that eight nations in the ECOWAS already use a common currency – the CFA (West African or Central African Franc.) These nations are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo. The French treasury guarantees the CFA and pegs it to the euro. 

West Africa Seeks Financial Freedom From Its Colonial Past

This tie to France is mainly due to France’s colonial history in the region and leads us to one of the big political rather than financial arguments for the Eco. West Africa would love to be more self-sustaining financially, and they can’t go it alone until they have an independent currency. 

Nigerian Dominance In the Region Set To Expand

 

The biggest issue with forming a single currency, as we have learned from the EU, is managing the difference between the haves and the have-nots. In the ECOWAS, Nigeria’s economy dwarfs any other nation. The oil-rich country provides a  whopping two-thirds of the economic output in the region. 

Nigeria could be left in a precarious situation, shouldering a far greater burden per GDP USD than Germany and France’s multi-trillion dollar economies do in the EU. Andrew S. Nevin, chief economist at PwC West Africa, told France 24 that the proposed plans come with the following three major sticking points:

 “(A single currency) seems a little bit premature considering that Nigeria hasn’t even signed up for regional integration in ECOWAS.You should first improve the implementation of existing ECOWAS trading agreements, then improve the physical infrastructure. The third more pressing issue would be the ability to trade in every country’s native currency, without using a third currency like euro or dollars.”

Many experts believe emerging markets could benefit the most from cryptocurrency or blockchain. Therefore it will be interesting to see if the technology is implemented in any way in the Eco. For now, it appears that several logistical hurdles, centered around how much dominance Nigeria will require for their support, will have to be overcome before January 2020. 

 

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‘Bitcoin Inventor’ Craig Wright Basks in Satoshi Glow as Court Date Looms

By CCN Markets: Self-proclaimed bitcoin inventor Craig Wright had his fondest wish come true when the capital city of Colombia formally recognized him as Satoshi Nakamoto.

Bogota Grants Craig Wright’s ‘Satoshi’ Wish

Officials in Bogota presented Wright with a fancy certificate affirming him as the creator of bitcoin. The events unfolded at the 2019 Expo-Bitcoin International in Bogota, a week-long crypto conference.

Wright, the chief scientist at nChain, and Jimmy Nguyen, nChain’s CEO, both attended the conference, where they discussed how Latin Americans could use cryptocurrencies to improve their economies. Notably, Wright discussed “bitcoin and the law.”

Self-proclaimed bitcoin inventor Craig Wright spoke at a crypto conference in Bogota, Colombia. | Source: Jimmy Nguyen/Twitter

Certificate: Wright Is Recognized as the Creator of Bitcoin

Nguyen shared Twitter photos of Wright showing off the certificate that proclaimed him bitcoin inventor Satoshi Nakamoto.

Nguyen tweeted:

“Muchas gracias, Concejo de Bogota. Thank you Bogota Council for having Craig Wright speak today about Bitcoin and law, and for the nice honor.”

That said, Colombia is a tiny crypto market, and the majority of the international cryptocurrency industry do not accept Wright as Satoshi.

Self-proclaimed bitcoin inventor Craig Wright received a certificate in Bogota recognizing him as Satoshi Nakamoto. | Source: Jimmy Nguyen/Twitter

The certificate was signed by Nelly Mosquera, the president of the Council of Bogota, and local councilman Julio Acosta.

The document declares that “Dr. Craig Steven Wright, most commonly known as Satoshi Nakamoto, is world-recognized as the creator of Bitcoin.”

The certificate further claims that Wright has several advanced degrees, including a Ph.D. in computer science and a doctorate in theology.

This certificate was signed by the president of the Council of Bogota, Nelly Mosquera, and councilman Julio Acosta. It says Craig Wright is recognized around the world as the creator of bitcoin. | Source: Jimmy Nguyen/Twitter

Craig Wright Will Appear in Court June 28

At the conference, Wright discussed how crypto could be used to create a “global connected economy, where the average person can own property, the poorest and most isolated people can trade their goods anywhere on Earth,” according to CoinGeek, a website run by billionaire Calvin Ayre.

Ayre and Wright are allies who believe that bitcoin (BTC) will “soon disappear” and be supplanted by Bitcoin Cash Satoshi Vision (BSV). Despite claiming that he invented BTC, Wright has distanced himself from it, alleging that bitcoin devolved into a vehicle for criminal activity.

In a blistering manifesto, Wright says cryptocurrency should operate within the law and should not be used for crimes. Wright then torched crypto evangelists who claim that BTC can operate outside the law because it’s decentralized. Wright says they’re deluding themselves and are in for a rude awakening.

Mediation in $10 Billion Bitcoin Lawsuit at ‘Impasse’

Last week, Wright attended a mediation conference in Florida as part of the $10 billion federal lawsuit filed against him by the estate of deceased computer genius Dave Kleiman.

Wright and Kleiman were colleagues who began collaborating on bitcoin in 2008 and allegedly mined 1.1 million bitcoin between 2009 until Kleiman’s death in 2013.

Kleiman’s estate wants half of the massive crypto stash, which is worth more than $10 billion using today’s bitcoin price. However, last week’s mediation ended in “an impasse.”

Wright will next appear in federal court in Florida on June 28. So stay tuned.

This post was last modified on (Eastern Time): 23/06/2019 17:37

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Stock Market Forecast: 5 Factors to Watch Ahead of Trump-Xi Parley

The impending Donald Trump-Xi Jinping meeting in Japan promises to be the blockbuster event of the summer, at least so far as the stock market is concerned.

As equities teeter on the cliff’s edge, investors must grapple with multiple possible outcomes when the market opens on Monday. Both the bullish and bearish scenarios could be equally dramatic for the Dow Jones and S&P 500.

Here are five factors to consider as Trump and Xi gear up for their trade war parley.

1. Wall Street Betrays Rabid Desire to Pump Stock Market Higher

One of the most extraordinary things about Trump’s trade war saga with China has been investor desperation to buy stocks on any sign of progress. Any faint hope of thawing tensions has boosted the market, no matter how many times bulls have subsequently been disappointed.

This makes it hard to anticipate anything other than a stock market rally on any hint of progress. The underlying appetite to buy is still intact, and the Federal Reserve’s dovish pivot has provided the confidence for investors to pump the Dow beyond 26,000 again.

2. Trade War Progress Could Temper Fed’s Dovish Mood

The Trump-Xi trade standoff, in turn, remains one of the Fed’s chief concerns, as Chair Jerome Powell is quite upbeat on the underlying foundations of the US economy.

If the conflict goes away, they could return to the moderately hawkish or “patient” outlook that they had before the most recent FOMC meeting.

A more hawkish outlook could provide a dampener on any rally in the stock market. A rapid strengthening in the dollar and a rise in Treasury yields could be possible on such a reversal.

Historically, it’s true that Fed confidence has been good for the stock market, so long term this could be bullish, but things could get a little wild in the near term.

3. Dow’s Technicals Could Struggle to Weather an Unexpected Escalation

The Dow Jones is probing a key resistance level as global stock markets boom. | Source: Yahoo Finance

If Trump chooses this moment to be a strongman, the Dow Jones could find itself in a very precarious position.

The rally in stocks has been dramatic over the last few weeks, and from a technical perspective, this could leave them exposed.

Add into this explosive mix the fact that the Dow is close to the top of its long-term monthly trading range, and the potential for longs to capitulate increases again.

5. Nordea Predicts Tensions WILL Escalate

In their Weekly FX report, analysts at Nordea anticipate that the trade war is going to heat up in Osaka, as proxy-conflicts worsen the relationship between Trump and Xi.

“Markets have become more, not less, optimistic ahead of the G20 summit after Trump’s tweet on the “extended meeting” with Xi. With i) Iran/US tensions at decade-highs, ii) a proxy US/China conflict boiling in Hong Kong and iii) the S&P 500 at all-time highs, we don’t find that the ‘Trump put’ is anywhere near current ATM-levels. We bet on an escalation of tensions in Osaka.”

What Does Trump Really Want? The Dow at 30,000 in 2020

Donald Trump is an odd mix of market friend and foe. He pursues the trade war, knowing it has held the stock market back, while also doing his best to provide corporate handouts to boost it. Ultimately it’s not hard to see what he wants.

Heading into the election cycle, Trump wants the market as high as possible as late as possible. If he can stare down Joe Biden in the final debates with the Dow Jones speeding above 30,000, he knows he will be even tougher to beat.

Therefore, it’s arguably in Trump’s interest to delay a resolution to the trade war – for now. This leaves him the opportunity to drop tariffs, declare victory, and unleash the stock market deep into his re-election bid.

Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN Markets.

This post was last modified on (Eastern Time): 23/06/2019 17:37

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Bitcoin Millionaire John McAfee Makes Cuba His Presidential HQ

By CCN Markets: Bitcoin millionaire John McAfee, who’s still running for U.S. president despite being a fugitive for tax evasion, has selected Havana, Cuba, as his campaign headquarters.

John McAfee: ‘I Am Being Politically Persecuted’

McAfee made the revelation on Twitter, where he announced his “Campaign in Exile” under the banner of the Libertarian Party. McAfee noted that he was forced to make his headquarters in communist Cuba because he’s “being politically persecuted” in the United States.

“My headquarters, since I am being politically persecuted, is now located in Havana, Cuba. I am still fighting. Stay with me, America!”

Bitcoin mogul John McAfee, who’s a fugitive for tax evasion, has designated Havana as his presidential campaign headquarters. | Source: John McAfee/Twitter

McAfee: Government Is Attacking Crypto

Hours earlier, McAfee torched the U.S. government (the body that he wants to lead), saying it has enslaved its citizens.

Moreover, McAfee warned that the government is attacking cryptocurrency, and is, therefore, undermining financial freedom.

“Our government has turned us all into slaves, we are fed a constant stream of propaganda. Our key to financial freedom – cryptocurrency – is under attack…Wake up America!”

U.S. presidential candidate John McAfee says the government is attacking cryptocurrencies like bitcoin. | Source: Twitter

John McAfee Warns the Feds: ‘I Will F***ing Bury You’

This is not the first time that McAfee has trashed the U.S. government. Two weeks ago, the software mogul launched a dizzying tirade, where he warned the government to leave him alone, or he will “f***ing bury them.”

At the time, McAfee claimed that the Department of Justice was building a sham criminal case against him. He warned that if federal agents pursue him, he’ll drop several bombshells that’ll reveal mass corruption within the government.

“I’ve collected files on corruption in governments. If I’m arrested or disappear, 31+ terabytes of incriminating data will be released to the press.”

As it is, McAfee never followed up on his threats. However, if it’s true that federal agents are pursuing McAfee, it’s probably because he admitted that he hasn’t paid taxes for almost a decade.

As CCN reported in January, McAfee confessed on Twitter that he hasn’t filed a tax return in eight years. Why? Because he says, “taxation is illegal.” Moreover, McAfee insists that he has paid more than his fair share of taxes throughout his long career, so enough is enough.

John McAfee says his dog understands all about government corruption. | Source: Twitter

2008 Financial Crisis Wiped Out $100 Million Fortune

John McAfee is a cybersecurity pioneer who created the McAfee anti-virus software program. At the peak of his wealth, McAfee’s net worth topped $100 million. After the 2008 U.S. financial crisis, McAfee claimed he lost most of his fortune.

Meanwhile, the Internal Revenue Service has repeatedly stated that crypto investors who earn money on their holdings must pay taxes on their capital gains. Last week, the Department of Justice doubled-down on these warnings, saying it has teamed up with the IRS to criminally prosecute bitcoin tax evaders.

Richard Zuckerman, an official with the DOJ’s Tax Division, threw down the gauntlet in no uncertain terms. He says the DOJ and the IRS are jointly hunting down bitcoin tax evaders to teach the public a lesson that cryptocurrencies are not above the law.

This post was last modified on (Eastern Time): 23/06/2019 23:09

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What a bit! Bitcoin to the Moon, Thank You Libra!

Bitcoin is currently dominating and it’s growing by the day. Even with major competitors on the rise like Facebook’s Libra, it seems it’s not doing too much damage to bitcoin price but instead the complete opposite. The question in everyone’s mind is just how long will the rise keep going since eventually there will be a drop?

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Blockchain Exec Reveals the Facebook Crypto’s Unspoken Advantage

By CCN Markets: Blockchain.com Head of Growth Haider Rafique believes that Facebook’s Libra project will be a boon to cryptocurrency as a whole, for numerous reasons.

As Head of Growth at Blockchain, adoption is the executive’s primary drive, and he believes Facebook’s crypto entry will have a positive impact.

The growth expert laid out his case for Facebook’s potentially positive impact on cryptocurrency in an exclusive interview with CCN.

He also revealed Libra’s “unspoken advantage” as it seeks to make its blockbuster entry into the crypto industry.

Crypto Exec Haider Rafique: People Still Trust Facebook Despite Scandals

For starters, despite its myriad of scandals, Facebook scores high on name recognition and trustworthiness metrics.

Rafique admits he has always been bullish on the new “Big Blue,” Facebook, but makes a valid point: for better or worse, people still like the social media platform just enough to keep using it.

Haider Rafique, Head of Growth at Blockchain.com

Recent events may even ultimately suggest that the majority of people are either too busy to care or do not care at all about their data, how it’s used, or whether or not Facebook pursues a “healthy” business strategy.

Like any network, Facebook grows by giving the customer what she wants: access to her friends and family, around the world. Thus the only thing that will displace Facebook is a better Facebook.

Long ago, Facebook morphed from a semi-exclusive network to a stable of apps, many of which can be monetized. But Rafique also believes that for Mark Zuckerberg and friends, the primary value of Libra will be its ability to attract even more users.

In some parts of the world, being able to swiftly enter the digital economy by simply creating a social media account will be a huge advantage.

Libra Targets Global Market Far More Than US Consumers

Mark Zuckerberg’s cryptocurrency project could make a splash in the global market, even if US consumers greet it with a collective yawn.| Source: Shutterstock

The fire cools somewhat when one considers how much US customers need additional payment options – not at all.

Still, Rafique says that any blockchain company is going to focus on capturing the US market as much as possible, and Facebook will be no different. He projects that they will do their best to play nice with the US government, who have already opened multiple inquiries into the social media giant’s new financial play.

So, what do Facebook and Libra mean for companies like Blockchain.com, who offer crypto wallet and blockchain data services? In the eyes of their head of growth, it means the company can expect more clients and people with wide-eyed interest in crypto. Rafique sees his company’s role as helping people get on board as quickly and easily as possible.

Facebook May Bring Millions of New Cryptocurrency Users

Despite everything, perhaps even despite Facebook, crypto is just not simple on the surface. To fully understand it, people will have to use it.

The social media giant will provide this opportunity at some unknown point in the future, but how much will it steep them in the economy? Rafique has a simple answer: a LOT.

He told CCN that the unspoken advantage of Facebook is its existing payment on-ramp, which will enable it to, if it chooses, force the issue. The company could tell advertisers, marketplace users, and so forth, that they must first purchase Libra to use these services.

With such a huge platform, the company swings a mighty stick in somewhat forced cryptocurrency adoption.

The prevalence of real-world businesses accepting the crypto might perhaps soften the blow. Being forced to buy and potentially take something like Libra doesn’t necessarily put you out, so long as you’re able to liquidate it for what you need. Rafique tells us:

“The people who are on Facebook that have no interest in crypto, may potentially be incentivized into using crypto to transact on Facebook’s ecosystem. You know, you already have on-ramps. You can already put your card information on Facebook to engage in a number of different paid services. They already have a peer-to-peer payments tool. So Facebook might say, ‘Look, Facebook enables you to do your business around the world at a fraction of the cost.’ […] Even on a bad day for Facebook, when they drive adoption, it’s going to be bigger than most of the existing crypto firms out there.”

We also discussed the prospect of Facebook hiring blockchain talent. Showing admiration for the firm’s crypto chief, David Marcus, he said he would bet on the team there.

Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN Markets.

This post was last modified on (Eastern Time): 23/06/2019 19:39

Blockchain Exec Reveals the Facebook Crypto’s Unspoken Advantage also seen on https://trendfunnelsuk.wordpress.com