LBC caller LOSES IT with Labour MP Chuka Umunna for FAILING to represent his constituents

novembre 30, 2017

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LBC caller Abigail from Balham said Labour MP Chuka Umunna would “do anything for media coverage” and demanded he should spend more time representing his constituents.

Mr Umunna appeared on Sky News on Wednesday to talk about his response to Donald Trump’s retweeting videos from far-right group Britain First. 

During the Sky News interview, Chuka Ummuna claimed Donald Trump is not welcome in the UK. He said: "I don't think that the President of the United States, a President who has not only promoted bigotry, misogyny and racism in his own country. I don't think he is welcome here.”

The Labour MP for Streatham wrote on Twitter that allowing Donald Trump’s state visit to remain in place was “feeble” and “outrageous”. 

The LBC caller said she does not “think much of him” but agrees with Mr Umunna that Donald Trump would not be welcome on a state visit to the UK.

Speaking to Nigel Farage, the LBC caller said: “The reason why it’s got so much traction in the media by Mr Chuku Umunna is Mr Chuku Umunna is a media W.

“I am sort of on the fence if it had come from somebody else I probably would have given it a lot more credence. 

“Chuka is only about Chuka. He needs to visit some of his own constituents, out of 650 MPs he’s ranked about 645, in terms of responding to his constituents, but he’s never off the telly.”

Mr Farage asked whether Abigail was correct and she said: “Google it. Get all of your guys in there to Google it.”

Labour MP lashes out after being interrupted by Tory MP

She continued the rant and said that Chuka Umunna is “never off the telly” and “never off the radio”.

She said: “If there’s a TV studio he’s there. But he does not look after his constituents. 

“The only reason he’s jumped on this bandwagon is because he wants traction.”

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What’s Barack up to? Obama to jet into Paris for ‘secret’ talks with Emmanuel Macron

novembre 30, 2017

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politique

The former US leader is a long-time fan of the centrist and endorsed for the presidency when he urged voters to reject the far-right. 

Although the Elysée Palace did not say whether there was a reason behind the ‘secret’ meeting, it is a sure sign that the bromance between the French centrist and Donald Trump’s popular predecessor is still going strong.

America’s former head of state embarked on a five-day trip to China, India and France earlier this week, and has been busy catching up with his former counterparts, including Chinese president Xi Jinping, his spokeswoman, Katie Hill said. 

The liberal democrat, who handed over the White House to Mr Trump in January, will be in the City of Lights on Friday and Saturday. 

He will attend a string of meetings in the French capital – including the intimate lunch with Mr Macron – and is to deliver remarks at an introductory session of the Les Napoleons innovation summit, Mrs Hill added.

Mr Obama openly endorsed the 39-year-old centrist for France’s presidential election last May, issuing a video message in which he praised the then candidate for stoking people’s hopes, and not their fears.

The American said: “Mr Macron has stood up for liberal values… 

“He is committed to a better future for the French people. 

“He appeals to people’s hopes and not their fears.” 

Mr Obama said, concluding his statement with “Vive la France!”.

Mr Macron won the presidential election over his far-right rival Marine Le Pen, the head of France’s eurosceptic Front National party, with more than 60 per cent of the final round vote

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M1 CRASH: Huge accident involving six lorries brings motorway chaos

novembre 30, 2017

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new

The incident took place on the northbound carriageway between junctions 29a and 30 in Derbyshire just after 6am.

Officials closed the busy motorway from junction 29 northbound while emergency services worked to clear the carriageway. 

Derbyshire Police warned rush hour drivers of "significant tailbacks" and 50-minute delays. 

Five people were described as the "walking wounded" after they were injured in the multi-car crash, but the injuries are not thought to be life-threatening. 

A police spokesman said: “One lane of the M1 northbound between junctions 29a and 30 is now open following an earlier collision but traffic is still heavy in the area.

“We were called to the area at around 5.50am today (Thursday, November 30).

“A broken down lorry was struck by another vehicle and a short time later, several other vehicles collided on the same stretch.

“No one suffered serious injuries but it will take time to remove all the debris.

HIGHWAYS ENGLAND
Five people were left injured after a crash on the M1

“Witnesses or anyone with information should call us on 101 quoting incident 88 of today.”

One lane of four was reopened shortly after 8am. 

A broken down car has also contributed to the traffic chaos on the major motorway. 

It broke down between junction 28 for Alfreton and Mansfield and junction 29 for Chesterfield. 

The road was reopened at 9am. 

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'Bitcoin is a FRAUD': JP Morgan boss Jamie Dimon says he will FIRE staff trading bitcoin

novembre 30, 2017

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buzz

BTCChina announced the plans yesterday as regulators crack down on the nascent cryptocurrency sector in a bid to stamp out potential financial risks.

“We will stop all trades on the digital trading platform starting Sept 30,” said BTCChina, one China’s largest bitcoin trading platforms. 

Bitcoin has fallen $1,000 since the start of the month amid speculation the Chinese government is launching a crackdown on exchanges.

The latest drop in price comes just days after JPMorgan Chase CEO Jamie Dinmon slammed bitcoin as a ‘fraud’ that will ultimately blow up.

"It's worse than tulip bulbs. It won't end well. Someone is going to get killed," he said, referring to the tulip mania crash in the 1600s. 

"Currencies have legal support. It will blow up."

The latest bitcoin price chart show that the cryptocurrency has fell nearly as low as $3,000 earlier today.

There are mounting fears of a bubble after bitcoin soared from less $1,000 at the start of the year to an all-time of $5,000 two weeks ago. 

Here are live updates on bitcoin news, the latest price andb graphs

9am BST: Bitcoin drops nearly as low as $3,000.

Bitcoin opened at $3,226.41 today. Today's high is $3,458.79 and today's low is $3,070.59.

Midnight BST: Bitcoin hits low of $3,209.44 on Thursday

On Thursday, bitcoin opened at $3,874.26 and closed at $3,226.41. Thursday’s high was $3,923.98 and its low was $3,209.44.

2.15pm BST: Trading to continue on the BTCC international exchange

BTCC co-founder, Bobby Lee, told Reuters the end to trading would not affect trading on the BTCC international exchange, however.

2pm: BTCChina stops trading due to directive from Chinese authorities

BTCChina said it decision decided to stop trading due to a Sept 4 directive from Chinese authorities that expressed concern over investment risks involved in cryptocurrencies and which ordered a ban on initial coin offerings.

Reuters and other media had reported this week, citing sources, that China planned to further ban exchanges that allowed virtual currency trading but the regulator has yet to make an announcement.

12.05pm: BTCChina announces it will stop trading

BTCC tweeted: “After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.

"BTCC products, including BTCC Pool, are not affected by this change. Please contact us at support@btcc.com if you have any questions.

10am BST: 'Grain of truth' in Dimon's attack on bitcoin

Perry Woodin, CEO of Node 40, a blockchain governance company, has said there is a ‘grain of truth’ in Jamie Dimon’s attack on Bitcoin. 

He said: “Dimon says that bitcoin is a fraud because all of the value is being driven by speculation and not utility. 

“There is a grain of truth to that. 

“Bitcoin has not yet seen wide adoption for day-to-day transactions, but the number of transactions occurring across the globe has been rising, particularly in 2017.”

6.04am BST: John McAfee hits back at Dimon's Bitcoin criticism

John McAfee, of MGT Capital Investments, has challenged Jamie Dimon's claim that the cryptocurrency was a 'fraud'.

Mr McAfee said: "You called Bitcoin a fraud. I'm a bitcoin miner. We create bitcoins. It costs over $1,000 per coin to create a bitcoin. 

“What does it cost to create a US dollar? Which one is the fraud? Because it costs whatever the paper costs, but it costs me and other miners over $1,000 per coin. 

“It's called proof of work."

CoinDesk
Bitcoin price update LIVE: Latest bitcoin price chart

Midnight BST: Wednesday's low was $3,766.36

On Wednesday September 13, Bitcoin opened at $4,148.27 and closed at $3,874.26.  The day’s high was $4,152.07 and the low was $3,766.36.

9.25pm BST: 'Parallels to pyramid schemes'

Marko Kolanovic, JPMorgan Chase’s global head of quantitative and derivatives, has joined his boss in slamming the cryptocurrency.

In a client note, he wrote: "Cryptocurrencies cannot be reliably valued and they have significant ‘tail risk’ that could come in the form of a regulatory ban.

”Moreover, the whole cryptocurrency market exhibits some parallels to fraudulent pyramid schemes.”

CoinDesk
Bitcoin price update LIVE: Latest bitcoin price chart

8.25pm BST: Jamie Dimon's comments are 'tipping point'

After Dimon's warning triggered a 11 per cent collapse in the price of the currency, his comments were described as a “tipping point”.

The cryptocurrency tumbled to as low as $3,720.01 on the Bitstamp exchange before recovering to trade around $3,810 by 3.24pm BST, still down 8.7% on the day.

James Butterfill, head of research and investment strategy at ETF Securities in London, said: ”He joins a long line of market commentators that have been critical of bitcoin and it potentially being in a bubble, so his comments could have been the tipping point.”

4.25pm BST: Bitcoin fall in price could be ‘technical pull back’ 

CoinDesk said: “Most investment banks have been and still call bitcoin a 'scam'. Every week, we see some stock market expert drawing parallels between the bitcoin rally and stock market bubbles seen over the last 100 years. 

“Thus, despite the 416% year-to-date gains in bitcoin, it is safe to say that there are no signs of Euphoria.

“In fact, the first sign of bitcoin nearing a major top would be investment banks boarding the cryptocurrency freight train.

“More likely then is that what we’re seeing now is a technical pull back. Following a stupendous rally, investors are looking for reasons to take profit.”

2.47pm BST: Jamie Dimon's attack dismissed as ‘naive’

Chris Skinner, global ambassador for London-based fintech trade body Innovate Finance, has dismissed Jamie Dimon's attack on bitcoin as “naive”.

Mr Skinner told Financial News: "The banking industry has gone through the fear, denial and grief of bitcoin. It has died a thousand deaths, according to experts, and yet it still keeps going.

“The reason is that we need a cryptocurrency that can operate globally in the digital age. That currency may or may not be bitcoin, but to decry it as something just for criminals is naive."

1.15pm: Blockchain researcher says history has proven Dimon wrong 

CFA blockchain researcher Noelle Acheson tweeted: “History has already proven him wrong on so many counts…”

1pm BST: Analyst says bitcoin 'here to stay' despite Jamie Dimon’s criticism  

Naeem Aslam, chief market analyst at Think Markets UK, said: "The digital currency is here to stay and under a more regulated environment, its volatility would ease off. 

"Moreover, this is not the first time that Jamie Dimon has spoken against the currency, the last time he had a similar go on the currency was in November 2015. 

"Since then, the currency has had a remarkable run.” 

Getty
Bitcoin price update LIVE: Bitcoin slammed as ‘fraud’ amid fears of bubble

12.44am BST: Economist warns bitcoin should be worth ‘half what it is’

Economist Mohamed El-Erian said: "The current pricing assume massive adoption, and I don't think governments will allow the amount of adoption that's currently priced in.” 

Asked what would be a reasonable price for bitcoin, Allianz's chief economic advisor told CNBC: "I would say at least half of what it is, a third of what it is."

12.26am: Bitcoin community hits back at Jamie Dimon’s criticism 

Charles Hayter, the CEO and cofounder of CryptoCompare, told Business Insider: “Jamie Dimon doesn't have the strongest track record when it comes to looking over the hill and generally you can't teach old dog new tricks," 

He added: "Naturally, his comments have generated ire from the crypto community as they have jumped to the defence of their project and beliefs."

Noon BST: North Korea 'hacks bitcoin exchanges' as sanctions bite

North Korea has targeted at least three bitcoin exchanges in a bid to steal the cryptocurrency as the sanctions hit home, security experts have said.

Luke McNamara, a senior analyst with FireEye, also said the bitcoin hacking came after the tightening of sanctions on North Korea's economy.

He said: “You also have cryptocurrencies appreciating significantly since the beginning of the year. So you see cryptocurrency exchanges, particularly in South Korea, becoming a logical target.”

11am BST: Bitcoin falls back after modest recovery ends

CoinDesk said: “After mounting a modest recovery in the wake of rumored regulatory scrutiny, the price of bitcoin is back below $4,000.

“The average price of bitcoin across global exchanges fell below $4,000 at roughly 3.15 UTC today, hitting a low not observed since September 10.”

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Bitcoin’s Price Swings Raise Fears of a Crash: DealBook Briefing

novembre 30, 2017

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A Bitcoin mining operation in China. On Monday afternoon, Bitcoin was trading above $4,290, an increase of about 7 percent, as investors showed new interest. 

Credit

Gilles Sabrie for The New York Times

The price of Bitcoin has rocketed to new highs after a long battle over the rules of the software was resolved, at least temporarily.

The price of a Bitcoin has risen nearly 50 percent since the beginning of the month, raising the total value of all Bitcoins to more than $70 billion. On Monday afternoon, Bitcoin was trading above $4,290, an increase of about 7 percent.

The price of Bitcoin, the virtual currency, has been climbing steadily for the last year as investors around the world have shown an interest in the unusual characteristics of its technology, which allows money to be held and moved on a network of computers without any central authority or bank involved.

But the latest price increase occurred after the most important backers of the Bitcoin network agreed on a long-disputed update to the network’s software and rules.

As Bitcoin has grown more popular, internal factions have been warring over the best way to update the software and allow more transactions to move through the system.

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A rule in the original software, released in 2009, limited the number of transactions that could move through the system to about five a second.

In the last two years, an outspoken group of Bitcoin aficionados wanted to see the currency expand quickly to compete with Visa and PayPal.

But that camp faced opposition from the so-called core developers, a few dozens programmers who maintain the basic Bitcoin software, generally on a volunteer basis.

At the end of July, some of the people who wanted Bitcoin to expand quickly broke off and created a rival digital money, known as Bitcoin Cash, that can handle more frequent transactions.

That new currency has attracted a small following, and retained a relatively stable value around $300.

Most Bitcoin investors and companies, however, have stayed with the original Bitcoin network and the core developers who are working on it.

The core developers have come up with their own solution to increase the number of transactions running through the system, known as Segregated Witness, or SegWit.

While SegWit does not expand the network as quickly as Bitcoin Cash, it makes it easier to build services on top of the Bitcoin network, such as the so-called Lightning Network, that will allow for faster transactions.

The biggest backers of the network agreed last week to proceed with SegWit, and it is that agreement, on scaling the network, that is the most obvious reason for the recent surge.

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“Scaling has been the major catalyst for the price rally,” said Charles Hayter, the founder of the data company CryptoCompare. “The scaling debate has certainly been holding the Bitcoin price back.”

Many backers of the core developers have said that Bitcoin is more likely to be a base layer that other services are built atop. In this vision, Bitcoin would be more like gold in the old gold standard than like a payment network.

The gold analogy and the scarcity of Bitcoin — the rules of the network dictate that only 21 million will ever be created — have led some investors to believe that the value of the currency will continue to rise as more people look to store their wealth in the system.

This vision has caught particular fire in Japan and South Korea, which have accounted for an increasing proportion of all Bitcoin trading this year, taking over from China, which once was responsible for the highest trading volume.

The introduction of SegWit does not resolve all of the arguments that have divided the Bitcoin community.

Many large Bitcoin companies are still hoping to follow through with an agreement, reached in the spring, that would change the Bitcoin software in November to allow twice as many transactions to flow through the network.

The core developers have made it clear in various forums that they do not plan to update the software in November to double the network capacity. When the November deadline is reached, some of the companies hoping to double the network capacity could again split off from the core developers.

“There is a history of animosity between Bitcoin factions with vested interests, and these tensions could flare up again,” Mr. Hayter said.

For now, though, Bitcoin has been rising steadily, and much faster than any of the competing virtual currencies that have cropped up in recent years.

Earlier in the year, the prices of many other virtual currencies were rising faster than the price of Bitcoin, most of all Ethereum, a virtual currency that has more programmable features than Bitcoin.

The price of Ethereum has been rising this month, but more slowly than Bitcoin and it remains below the record high it reached in June. On Monday, the price stood around $300.

Investors are buying Ethereum and Bitcoin to invest in so-called initial coin offerings, a new method of fund-raising in which entrepreneurs create and sell their own virtual currencies.

Such offerings have continued to come onto the market despite warnings from regulators that some of them may violate securities laws.

A version of this article appears in print on August 15, 2017, on Page B3 of the New York edition with the headline: The Price of Bitcoin Surges After an Agreement on a Key Software Update. Order Reprints| Today's Paper|Subscribe

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