China Has Banned Cryptocurrency Fundraising.... market is crashing

China has banned the hottest trend in cryptocurrency fundraising and now the entire market for digital currencies is shuddering.

On Monday morning in Beijing, a slew of Chinese regulatory agencies released a joint statement in which they affirmed that initial coin offerings (ICO), a cryptocurrency-based fundraising method, are illegal in the country.

The market for ICOs has grown exponentially this year with some firms using the fundraising method to raise millions of dollars in minutes without offering an actual product. As such, many Wall Streeters are calling the market a bubble.

To raise cash through an ICO, a company issues a new digital currency that can either be spent within its ecosystem, a bit like Disneyland dollars, or used to power part of the business.

Since the beginning of the year, $1.8 billion has been raised via ICOs, according to an email from financial technology analytics provider Autonomous NEXT.

Sebastian Quinn-Watson of Blockchain Global, a bitcoin exchange operator, told Business Insider in an email Monday morning that the news out of China is an “absolute win” for the cryptocurrency community because it will weed out illegitimate ICOs.

“The changes in regulation will take a lot of the bad actors out quickly,” Quinn-Watson said. “Excellent result for every founder who has a good product, a sensible and well structure token sale process, and an international outlook.”

Still, the 15 largest cryptocurrencies by market cap are all down more than 6% since yesterday, according to data from Coinmarketcap.com.

Litecoin, the fifth largest cryptocurrency, is down more than 15% at $64 per coin after surging above $80 on Friday. Likewise, bitcoin is lower by close to 7% at $4,340. Bitcoin surpassed the much-anticipated $5,000 benchmark for the first time on Saturday.

Ethereum is down nearly 16% at $288 per token. In total, the marketcap for cryptocurrencies has shed over $20 billion since Friday.

As reported by Business Insider’s Oscar Williams-Grut, the wording of the statement by the People’s Bank of China and other regulatory agencies suggested that trading and usage of all cryptocurrencies, including bitcoin, could now be illegal in China.

The PBoC said that virtual currencies that are “not issued by the monetary authorities… do not have legal status equivalent to money, and can not and should not be circulated as a currency in the market use.”

Korean Media Warns Nigerians To Stop Mocking Their Leader Kim Jong-Un (See Tweets)

North korean news service, Democratic peoples Republic of korea(DPRK), took to its twitter handle @DPRK-News to issue strict warning to Nigerians to avoid making mockery of their leader Kim Jong-Un or pay a heavy price.

The Twitter handle which is not officially verified wrote, ‘Impudent peoples of Nigeria are warned against mockery of Supreme Leader Kim Jong-Un, lest they pay a heavy price.’

Their leader Kim Jong -Un is the Chairman of the Workers’ Party of Korea (WPK) and supreme leader of the Democratic People’s Republic of Korea (DPRK), commonly referred to as North Korea.

Nigerians who found the warning to be very awkward, replied hilariously on their twitter handles, see below:-

See Nigerians Replies below:-

iPhone 8 leaked prices are unsurprisingly high

This is probably going to shock no one, but it’s still going to put off a lot of people. The 10th anniversary iPhone, whatever name it ends up with, is already expected to be the most expensive, non-limited edition, non-luxury iPhone in existence. But having those described in definite, though of course unofficial, numbers really hammers the point in. And that is exactly what leak source Benjamin Geskin, a.k.a. VenyaGeskin1 on Twitter, has for the world to see and gawk at.

The iPhone 8, or iPhone X, or iPhone Anniversary Edition, is already accepted to be expensive as heck. Considering how Samsung priced its own late 2017 flagship, we somewhat know what to expect next week. But now we’re seeing more precise figures, and it’s not going to sit well with many. Geskin’s source is a friend at Apple, who we hope hasn’t been identified. Despite that, we naturally have to exercise a bit of skepticism, though the numbers do add up with what we’ve seen from other sources. The base model for the iPhone 8, with 64 GB of internal storage, will go for $999. The next storage configuration isn’t the usual 128 GB but a whopping 256 GB, which will set you back $1,099. And finally, never before seen in any smartphone, is 512 GB of storage, which only jumps up to $1,199.

 Follow

Benjamin Geskin @VenyaGeskin1

#iPhone8

64 GB: 999$
256 GB: 1099$
512 GB: 1199$

12:42 PM - Sep 4, 2017

•  125125 Replies
 
•  160160 Retweets
 
•  1,2991,299 likes

 The 64 GB will probably be the model that most will buy, considering it will be the one most can afford. The 256 GB, however, is very tempting, considering you get four times the storage at only $100 more. The biggest model is also the biggest question mark, as even the shutter-happy folk might not be able to use up all that space, all at once.

Alexis Sanchez and Philippe Coutinho told to follow Cristiano Ronaldo’s example after deadline day blows

Graeme Souness has urged Alexis Sanchez and Philippe Coutinho to prove their quality at Arsenal and Liverpool after failing to secure summer transfer moves.

Chilean playmaker Sanchez and Brazil international Coutinho were strongly linked with deadline day moves after appearing to put pressure on their respective clubs to sanction sales.
Sanchez was a top target for Manchester City and Pep Guardiola tabled an offer worth around £60million last week in an attempt to bring the 28-year-old to the Etihad.
Coutinho, meanwhile, was said to be desperate to join Barcelona but Liverpool held firm and rejected multiple offers to keep him at Anfield.
Now their short-term futures have been decided, Souness says Sanchez and Coutinho should look at how Cristiano Ronaldo and Luis Suarez dealt with missing out on transfer moves.

Graeme Souness has urged the duo to prove their quality this season ‘If Alexis Sanchez and Philippe Coutinho need role models after failing to get the transfers they pushed for, then they need look no further than Cristiano Ronaldo and Luis Suarez,’ Souness told the Sunday Times.

‘They could have sulked after being told to stay another year at Manchester United and Liverpool, but instead they proved their quality.

‘Ronaldo inspired United to a third consecutive league title and a second successive European Cup final before departing for Real Madrid for £80m in 2009.

‘Suarez scored 31 goals in 33 league games as Liverpool narrowly missed the title and was named footballer of the year before joining Barcelona for £65m in 2014.

‘Every player is different, of course. Some accept it, while others will be unhappy until they finally get their own way. As a manager, you are appealing to their professionalism.

‘The supporters of Arsenal and Liverpool will be looking at Sanchez and Coutinho closely this season to see what they are giving.’

Some have questioned how committed the likes of Sanchez and Coutinho will be this season but Arsene Wenger insists he is not concerned.

‘Your interest is always to perform and he is 100 per cent committed, I have no doubt about that,’ the Arsenal manager told beIN Sports.

Liverpool news: Coutinho doesn’t want to return to England after failed Barcelona transfer

Coutinho had been a target for Barcelona all summer and even submitted a transfer request to force through a move.

However it was rejected just a like a third bid of £90million was swiftly turned down as Liverpool maintained their stance that Coutinho would not be sold.

Liverpool have since denied claims by Barcelona that they were open to selling Coutinho for £183m on deadline day in Spain. 

But new reports in Spain have shed a light on Coutinho's disappointment at seeing a move to the Nou Camp fail to materialise.1 of 1

    Spanish newspaper Sport quote friends of Coutinho saying: "We still do not understand why Liverpool did not want to sell." 

It says following international duty with Brazil, Coutinho's return to Liverpool is 'a flight that he never wanted to take'.

The report claims Coutinho was not due to play against Ecuador last week but came on and scored having already known that he would have to stay at Liverpool.

Coutinho is said to have spent Thursday night in a restaurant with his family and the atmosphere was a 'like a funeral’ and he was ‘crestfallen as he had never been seen before’.

PA

Nevertheless Liverpool boss Jurgen Klopp reckons Coutinho can feature for the club this season.

“We still have a really good player in the squad who can play,” said Klopp, speaking to the German media outlet SPORT1. 

“Don’t believe everything in the press or that there are offers here and there and that the minute after the offer has been entered, it should already be over.

“We are not like George Orwell where everybody knows everything immediately. We have exactly the situation we wanted and no other.”

The youths cannot rule the country-Bisi Akande

Former interim National Chairman of the All Progressives Congress (APC), Chief Bisi Akande has said that the brand of democratic system in Nigeria is akin to military junta, noting that political players are not better than military dictators and despots.

The former Osun State Governor also expressed pessimism over the competence of the youths to take over the mantle of leadership, saying there is total erosion of values among the young generation.

“The core value system is no more in place. We have a mixture of the negative and positive tendencies among the youths.

“The negative tendencies are more than the positive ones. How do we get sincere and good future leaders in the present society”.

Akande, spoke when he payed host to members of Pan Yoruba group known as Yoruba Patriotic Movement at his Ila-Orogun, his country home.

He noted that the whole political system and pattern of governance in Nigeria predicated on “governance with impunity”.

He explained that the Nigerian party system was still far from entrenching internal democracy base on carryover of military orientation and gestapo approach.

Akande insisted that the only way democracy could be sustained and nurtured in a party system is to have an independent and virile political parties, the one not tied to the apron string of any governmental institution or structure.

“Political party grew in hierarchy system in those days; whether you are tailor, bricklayer, carpenter or whoever, you must learn politics through your political party.

“You cannot just rise up and say you want to become this, you want to become that in the party. You must learn first. Political party was a leadership training ground.

“But the military deliberately killed that system. The military wanted to be controlling the political party after they left power.

“The military created political party like NRC, SDP during Babangida’s time; we would remember the five leprosy fingers of General Sani Abacha. After they left government, they made regulations for the political parties through the civilian government.

“Up till date, military mentality still pervades our political system. Unfortunately, those who knew the military plan have left the political party leadership. Majority of the people at the leaderships of the political party are those who grew or learn politics in the military arrangement”, Akande opined.

Touch my wife, I’ll kill you - Pastor Adeboye

The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye has revealed what he will do to anyone who dares to lay a finger on his beloved wife. According to Pastor Adeboye, he would kill anybody who touches his wife, Pastor (Mrs) Foluke Adeboye. He noted this while preaching a message titled “Activating Your Destiny” at the National Headquarters of RCCG, Throne of Grace Parish, Ebutte Meta, Lagos even as he celebrates his 50th wedding anniversary with his wife. Daddy G. O as he is fondly called, however, enjoined couples to be ready to lay down their lives for their partner if they truly loved them. In his words, “be ready to lay down your life for your partner if you’re truly in love. My wife doesn’t like me saying this: “You can slap me; you can lie against me, you can criticise me, it doesn’t bother me, but touch my wife, I’ll kill you! “I want the world to hear. They’ll say if I killed, they’ll arrest me, jail me, that is if I killed with cutlass or gun. “If you tamper with my wife, I will talk to my Daddy and you’ll sleep and will not wake.” “If you want to marry a person who’s influential, marry a pastor. If he does not fall into sin, he’ll remain a pastor forever.” “Marry for love. It’ll endure. I’ve been married for 50 years and still on honeymoon. I was the poorest among those lurking around the girl I married.” “One was a lawyer who had a car; I had nothing. But I told the girl that if you marry me, whatever I am, wherever I ever become, will be yours”. “I was not a Christian, but i was an incurable optimist. We struggled over ‘pomo’ as I usually hear me say, but today if we want to eat a cow now, God will provide “After our wedding on September 8, 1967, we faced challenges. The baby came 1968. It was tough. We were happy because we were in love. “I had no car, no house, a marriage into a rented room and a parlour. We have stories to tell. If you marry for love, the reason it will last is because God is love.” “You must continue to tend the fire, meaning: no matter how little, you must constantly give gifts to your partner. If it’s given in love, it’ll be appreciated. “When two people are in love, they exchange gifts. Always open your mouth to say to your partner “I love you.”