Search results for ecomi

  • Ecomi Price Prediction – Will OMI Price Hit $0.03 in 2022?

    Bullish OMI price prediction ranges from $0.001953 to $0.012379. OMI price might also reach $0.03 soon. OMI bearish market price ...Read More...

  • Crypto A Con? Jim Cramer Sounds Alarm After Calling Ethereum 'Terrific' And Becoming 'A Believer'

    Jim Cramer is fickle when it comes to stock recommendations. The same could be said for cryptocurrency. What Happened: The CNBC host sounded the alarm on the crypto sector Monday after previously recommending viewers to invest. He labeled the events of the cryptocurrency sector as “Crypto Monday,” led by Celsius and others pausing trades and withdrawals on users’ accounts. “I don’t want to make a joke of it. A lot of younger people and people who borrowed money, they are going to be gone today if they are not careful,” Cramer said. Cramer added that he is hearing pessimistic views from his contacts in Silicon Valley, with some calling crypto “a con.” Cramer mentioned large marketing campaigns from cryptocurrency platforms including an ad campaign from with Matt Damon as reasons why more people are speculating in the cryptocurrency sector. “Here’s what happens in these situations. The people with a lot invested in crypto will come in and make a stand," he added, likening the sentiment to a medieval war drama. "It’s Braveheart.” Cramer called the drop in the prices of cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) a “necessary cleansing of speculation.” Why It’s Important: Many on social media were quick to point out that on April 28, Cramer was recommending people to buy Ethereum. “I think Ethereum is terrific," he said. "I’m a believer.” Cramer told viewers he thought Ethereum could get 35% to 40% higher, but instead the cryptocurrency is down over 50% since the episode. “There are fortunes made in crypto,” Cramer said on June 8 saying he was a “believer” in cryptocurrency. On Monday, Cramer said he pulled his money out of Ethereum and broke even on his original investment. Cramer previously cautioned that investors should consider the sector as a speculative investment and make it less than 5% of their portfolio. “Don’t put it in the Procter & Gamble class. It’s not Coca-Cola, it’s not Apple.” Cramer said investors should never borrow money to invest in cryptocurrency. Some on social media including Solana (CRYPTO: SOL) co-founder Anatoly Yakovenko even predicted Cramer to reverse his mind on cryptocurrency with prices falling. “A major fund must also close and Cramer will utter a bearish crypto prose,” Yakovenko tweeted. Dogecoin (CRYPTO: DOGE) co-creator Billy Markus hit back at Cramer saying: “Jim ya gotta shut up sometimes.” © 2022 Benzinga does not provide investment advice. All rights reserved.

  • Cryptocurrency Is Becoming an Absolute Game Changer in Today's Real Estate Transactions

    In just a few short years, the public’s perception of cryptocurrency has evolved dramatically. It began with many first seeing it as a novel but impractical idea, then as a scam, then as a valid but volatile investment, and now, it’s finally starting to be seen as a legitimate form of currency for all kinds of transactions. More recently, it’s even been gaining ground in real estate transactions. This is suprising considering how far behind the industry is when it comes to technology. But things have progressed rapidly. The first NFT real estate sale took place in Gulfport, FL in February 2022, and more recently, the largest-known real estate deal of using crypto in America was a Miami Beach penthouse that traded for $22.5 million. While there are advantages to buying real estate with crypto, there are also some disadvantages as well. Let’s address the disadvantages first.  Most sellers, as well as most real estate professionals, simply don’t understand cryptocurrency yet, let alone how to conduct a real estate transaction with it yet. That can make it difficult to conduct a transaction this way because the seller, both Realtors, and title professionals involved in the closing all need to understand cryptocurrency. This may be possible in major cities where people tend to be more tech savvy, but it’s unlikely in many areas. The reality is that the process itself is pretty straightforward and is no different than using traditional funds—with one exception. Rather than money moving between two banks upon closing, it moves from one crypto wallet to another. Paul Lizell, a real estate investor and educator, says “Timing can play a critical role as well, if you send the funds in a volatile market you could actually lose value against the US dollar if the crypto market is going up. Also if you use a crypto like Ethereum (CRYPTO: ETH), you could pay high fees ranging in the thousands.” For the most part, every other aspect of the closing process remains the same. "Crypto transactions are not complicated as they seem. Especially if you are working with an experienced seller. As it becomes a more accepted form of payment, you will find more companies willing to share the steps to open a wallet, or third party providers that can assist with the transaction," says Denis Smykalov, with Wolsen Real Estate—a real estate brokerage that has conducted multiple real estate transactions using cryptocurrency. Lizell recently purchased a property this way. He shared his experience, saying, “Last August I purchased my home in Naples FL and I used $100,000 worth of Bitcoin as my down payment towards the purchase. This transaction was handled by Bitpay, which converted the Bitcoin to US dollars in real time.” This approach meant that the seller didn’t even have to understand crypto, but it can further complicate a deal.  And cryptocurrency is volatile. In the past twelve months, Ethereum, one of the more popular and relatively more stable coins available today, has fluctuated between $1,722.90 to $4,811.70. This means that if you had planned to purchase a $600,000 property, you would need roughly 125 of this particular coin to complete the transaction. (You’d actually need slightly more, or you’d need to bring additional traditional funds to cover closing costs, but there’s no need to over complicate it.)  So let’s say you signed a contract to purchase a property at Ethereum’s peak on November 8th, 2021, but didn’t get to the closing table until January 27th, 2022, which wouldn’t be surprising considering the holiday season, appraisal and inspection backlog, and other delays caused by the pandemic. By this date, Ethereum had dropped by nearly fifty percent to $2,425.17! This means you would have had to either bring another 125 coins or $300,000 in traditional funds to the closing table, and if you couldn’t do that, you would be on the hook for penalty fees for breaking the purchase contract. That’s a pretty big disadvantage.  Smykalov says, “Market volatility has been a problem in the past, but by using a third party company or attorney, they can facilitate the transaction and convert crypto to US dollars. Other options include choosing stable coins that equal US dollars 1-1." But the advantages of purchasing with crypto can be significant too.  When buying a property with cryptocurrency, you’re typically dealing with a very different type of seller, which means they may be open to more unconventional terms. Whether you’re a homebuyer looking for a home to live in or you’re a real estate investor looking to add more properties to your portfolio, this gives you more ways to make a deal viable that might not be otherwise. That becomes even more important the more competitive the real estate market becomes. It’s worth noting that it’s already extremely competitive, becoming more competitive every day, and showing no signs of slowing down anytime soon. And sellers who understand crypto also understand that the balance in a wallet or cold storage is just as good if not better than cash in the bank. This can give you a powerful advantage over traditional buyers who are relying on financing because you can close faster and the seller will get their money immediately. Anyone who has tried to purchase a property lately knows that you need every advantage you can find in this hypercompetitive market.  Taxes are another area where cryptocurrency offers advantages over purchasing a property using traditional funds.  In the past, if you had made a killing in crypto, you basically had two options—continue holding it to delay taxation on your gains, or sell it and pay a capital gains tax. However, now that it’s starting to be accepted in real estate transactions more frequently, you have a third option, which is to use it to directly purchase a property. In doing so, you will face taxation on your capital gains from the appreciation of your cryptocurrency because you’re essentially cashing it in. But because you’re purchasing real estate with it, you’ll now be able to enjoy tax benefits that only real estate can provide. While you’ll take an initial tax hit, this transaction can be a powerful tax deferment strategy from that point on using depreciation and 1031 exchanges, which creates a significant compounding effect. It’s important to note that you should make sure the tax professionals you work with have deep expertise in both real estate and crypto. Especially the latter because the tax laws on crypto are still unfolding and there is a lot of gray area, so it takes a true expert to keep you on the right side of the law here.  And as a seller, accepting cryptocurrency as a payment method often means a larger pool of potential buyers. More buyers typically means a higher final sale price, driven by bidding wars, which means greater profits for you.  Ultimately, crypto is here to stay, and it’s playing a growing role in real estate, so smart buyers and sellers will leverage this trend early on to maximize their returns. Eventually it will become commonplace, but leading up to that, you absolutely should make the most of the advantages it creates for early adopters.  © 2022 Benzinga does not provide investment advice. All rights reserved.

  • Indonesia – World’s 4th Largest Populous Country Sets Eyes on Becoming the Crypto Capital of Asia

    A well visioned regulatory framework & the meteoric rise in the number of blockchain and crypto projects, has paved way ...Read More...

  • AscendEX and ECOMI Launch OMI Stake and Earn Competition

    The largest NFT marketplace on Immutable X for premium licensed digital collectibles rewards the AscendEX community. AscendEX, a leading global ...Read More...

  • ECOMI (OMI) Price Prediction 2022: Is $.008 EOY Price Possible?

    Bullish OMI price prediction 2022 is $.0030 Skyrocketing price potential of ECOMI is $.008 Important: ... Read More... from ECOMI (OMI) Price Prediction 2022: Is $.008 EOY Price Possible? The post ECOMI (OMI) Price Prediction 2022: Is $.008 EOY Price Possible? appeared first on Crypto News Land.

  • RT ChuckFresco: My inspiration in anime is Rock Lee! If you put in the work and believe in yourself, you can become a champion! Perseverance. The will to never give up on becoming one of the best. That is my @AxieInfinity Way! [] #axieorigin

    RT ChuckFresco: My inspiration in anime is Rock Lee! If you put in the work and believe in yourself, you can become a champion! Perseverance. The will to never give up on becoming one of the best. That is my @AxieInfinity Way! #axieorigin

  • 'Doge Was Created As Satire Of How Stupid The Scene Was Becoming. It Hasn't Improved': Billy Markus

    Dogecoin (CRYPTO: DOGE) co-founder Billy Markus took to Twitter on Friday to express his anguish over the mess cryptocurrencies are finding themselves in. Markus, who goes by the Twitter name Shibetoshi Nakamoto, walked his followers through the rationale behind the creation of cryptos. He noted that cryptos were created as a "statement" against central bank control, right after the recession caused by the housing collapse in 2006. He shared a screenshot of the 2007 post by Bitcoin (CRYPTO: BTC) founder Satoshi Nakamoto, announcing the creation of the apex currency. cryptocurrency was created as a statement against central bank control, right after the 2006 recession caused by predatory lending practices and other irresponsible nonsense, leading to the housing bubble bursting, rampant printing of money, bailouts, etc. — Shibetoshi Nakamoto (@BillyM2k) May 14, 2022 Cryptocurrencies, however, are now used to speculate as a means of earning more fiat money, Markus said. He lamented that no one cares if something is centralized or not, as long as they get money out of it. Markus also noted that people actively want a bailout for "failed projects." "Satoshi would be rolling in his grave at this godawful mess," he said. Cryptos May Not Fix Problems: The Doge co-founder said he isn't hopeful cryptos can fix all the problems it originally set out to resolve. The space has now evolved to become "everything it wasn't supposed to be," he said. "Because regardless of what Satoshi wanted, that's what people wanted," Markus said. He also reminded his followers that Doge was created as a satire of how stupid the scene was becoming, and it hasn't improved since. Related Link: Crypto Billionaires See Wealth Eroded With This Week's Market Crash Plea For Respecting Original Intent: Markus also said he would like more people to at least respect the original intent of cryptocurrency to be a "currency that is not controlled by any single entity, that is immune to attacks, and that is decentralized." He also called upon the community to recognize when things are straying away and not support those projects. Markus' rantings come against the backdrop of the crash of Terra Luna (CRYPTO: LUNA), the token that powers the Terra blockchain protocol that operates with the objective of increasing the overall use of stable coins. Luna's value fell to nearly zero and TerraUSD (CRYPTO: USDT), a stable coin linked with the U.S. dollar, also went into a tailspin. This produced a domino effect, termed by many as the "Lehman moment" for cryptos. At last check, Doge was seen sliding 5.24% to $0.08646, according to Benzinga Pro data. © 2022 Benzinga does not provide investment advice. All rights reserved.

  • Becoming Homeless, Jobless For Bitcoin: Why Binance CEO CZ's Mom Dubbed Him 'Stupid Kid'

    Binance founder and CEO Changpeng Zhao revealed in an interview with the YouTuber Nuseir Yassin that he gave up on his job and apartment to bet on Bitcoin (CRYPTO: BTC).  What Happened: Zhao told Yassin of the Nas Daily channel that his mother called him stupid for pursuing cryptocurrency and instead wanted him to have a stable career.  “My friends thought I was crazy because I was selling my apartment in Shanghai to go into crypto and I was quitting my job. So I was jobless [and] homeless. By most people's definitions that is crazy.” His friend’s assessment was proven correct as Zhao lost $700,000 when Bitcoin crashed two months after he went all-in.  Zhao’s mother called him a “stupid kid” and lamented why he couldn’t get a nice job in a corporate. See Also: How To Get Free NFTs Why It Matters: Zhao, however, was determined to succeed in cryptocurrency. He said he worked from 9 a.m. to midnight seven days a week for five years and started Binance. Today, Binance is the largest cryptocurrency exchange by volume, according to data from CoinMarketCap. Zhao revealed that he was shocked that Binance got so big. He said his goal for Binance was that it should be among the world’s top 10 exchanges in three years, but “we got there in six months.” On Thursday, Binance said it had committed $500 million to invest in Twitter alongside Tesla Inc (NASDAQ: TSLA) CEO Elon Musk. "We're excited to be able to help Elon realize a new vision for Twitter,” said Zhao.  Read Next: Elon Musk Bags Over $7B In Twitter Deal Financing Photo courtesy: Binance © 2022 Benzinga does not provide investment advice. All rights reserved.

  • Crypto lobbying is becoming ‘incredibly powerful,’ according to Blockchain Association’s Kristin Smith

    In this episode of The Scoop, The Blockchain Association's Kristin Smith explains how crypto lobbying efforts are starting to have an effect on Congress, and why it doesn't take a lot of money to make an impact. The post Crypto lobbying is becoming ‘incredibly powerful,’ according to Blockchain Association’s Kristin Smith appeared first on The Block.

  • Robinhood’s net revenues are down, but crypto is becoming a bigger piece of the pie

    Transaction-based revenues are down, but trading platform Robinhood's crypto business is still a major driver of its revenue. The post Robinhood’s net revenues are down, but crypto is becoming a bigger piece of the pie appeared first on The Block.