The foreign exchange market (forex or FX for short) is one of the most exciting, fast-paced markets around. Until recently, forex trading in the currency market had been the domain of large financial institutions, corporations, central banks, hedge funds and extremely wealthy individuals. The emergence of the internet has changed all of this, and now it is possible for average investors to buy and sell currencies easily with the click of a mouse through online brokerage accounts.

Daily currency fluctuations are usually very small. Most currency pairs move less than one cent per day, representing a less than 1% change in the value of the currency. This makes foreign exchange one of the least volatile financial markets around. Therefore, many currency speculators rely on the availability of enormous leverage to increase the value of potential movements. In the retail forex market, leverage can be as much as 250:1. Higher leverage can be extremely risky, but because of round-the-clock trading and deep liquidity, foreign exchange brokers have been able to make high leverage an industry standard in order to make the movements meaningful for currency traders.

Extreme liquidity and the availability of high leverage have helped to spur the market’s rapid growth and made it the ideal place for many traders. Positions can be opened and closed within minutes or can be held for months. Currency prices are based on objective considerations of supply and demand and cannot be manipulated easily because the size of the market does not allow even the largest players, such as central banks, to move prices at will.

The forex market provides plenty of opportunity for investors. However, in order to be successful, a currency trader has to understand the basics behind currency movements.

The goal of this forex tutorial is to provide a foundation for investors or traders who are new to the foreign currency markets. We’ll cover the basics of exchange rates, the market’s history and the key concepts you need to understand in order to be able to participate in this market. We’ll also venture into how to start trading foreign currencies and the different types of strategies that can be employed.

Trade Binary Options

How to Trade Binary Options

General Risk Warning:

&nbspThe financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.&nbsp
  1. Binary options – the world’s financial instrument. They allow traders to  from price movements across all the world’s markets.
  2. There are only 2 types of transactions you can make with binary options: CALL and PUT.

The IQ Option platform allows our traders to make investments starting from just $1.



  1. Call – Option for rising prices. If you believe the price is about to go up, choose this option.

PUT – Option for falling prices. Buy this option when you expect the price to decrease.

If you see on the chart that the price isn’t rising or falling, that means that right now there’s a “neutral trend.” In this case, it’s best to hold off on buying this option. Consider choosing a different asset to invest in.

Trend examples:

2 3


  1. Never invest more than 2% of your capital in a single option. This is the golden rule for any investor. This way you can manage your investing without losing your head…or your money
  2. In order to improve the quality of your results, use technical & fundamental market analysis.
  3. Try different asset classes. If you’re not getting results with currency pairs, try stock indices. On IQ Option you can  find over 500 types of assets, including Amazon, Facebook, and Google.
  4. Sign up for IQ Option’s, where you’ll find out how to analyze trends, choose a trading pattern, and personally answer any questions you may have.

How to register & trade on IQ Option

General Risk Warning:

&nbspThe financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.&nbsp

General Risk Warning:

&nbspThe financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.&nbsp

Will Bitcoin Mining Consume All The World’s Current Electricity Production By Feb 2020?


Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst.

However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption used to “mine” more Bitcoins.

How Does Bitcoin Mining Consume Electricity?

At a very basic level Bitcoin mining requires expensive and power hungry computer hardware. As the the IEEE explains:

Mining power is high and getting higher, thanks to a computational arms race. Recall that the required number of zeros at the beginning of a hash is tweaked biweekly to adjust the difficulty of creating a block—and more zeros means more difficulty.


The Bitcoin algorithm adds these zeros in order to keep the rate at which blocks are added constant, at one new block every 10 minutes. The idea is to compensate for the mining hardware becoming more and more powerful.


When the hashing is harder, it takes more computations to create a block and thus more effort to earn new bitcoins, which are then added to circulation.

According to Digiconomist’s Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoin’s current estimated annual electricity consumption stands at 29.05TWh.

That’s the equivalent of 0.13% of total global electricity consumption. While that may not sound like a lot, it means Bitcoin mining is now using more electricity than 159 individual countries (as you can see from the map below). More than Ireland or Nigeria.

If Bitcoin miners were a country they’d rank 61st in the world in terms of electricity consumption.

Here are a few other interesting facts about Bitcoin mining and electricity consumption:

  • In the past month alone, Bitcoin mining electricity consumption is estimated to have increased by 29.98%
  • If it keeps increasing at this rate, Bitcoin mining will consume all the world’s electricity by February 2020.
  • Estimated annualised global mining revenues: $7.2 billion USD (£5.4 billion)
  • Estimated global mining costs: $1.5 billion USD (£1.1 billion)
  • Number of Americans who could be powered by bitcoin mining: 2.4 million (more than the population of Houston)
  • Number of Britons who could be powered by bitcoin mining: 6.1 million (more than the population of Birmingham, Leeds, Sheffield, Manchester, Bradford, Liverpool, Bristol, Croydon, Coventry, Leicester & Nottingham combined) Or Scotland, Wales or Northern Ireland.
  • Bitcoin Mining consumes more electricity than 12 US states (Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming)

All maps created using

Bitcoin Mining Electricity Consumption Vs Countries

The map above shows which countries currently consume more or less electricity than that consumed by global Bitcoin mining.

The map below shows how much more or less bitcoin mining energy consumption compares to each countries energy usage with 100% being equal.

E.g. Ireland currently consumes an estimated 25 TWh of electricity per year, so global Bitcoin mining consumption is 116%, or 16% more than they consume. The UK consumes an estimated 309 TWh of electricity per year so global Bitcoin mining consumption is only equivalent to 9.4% of the UK total.

Bitcoin Mining as percentage of each country's electricity usage

Global Bitcoin Mining consumption compared to each country’s electricity consumption

The map below shows which countries in Europe consume more or less electricity than Bitcoin mining:

Bitcoin Mining Electricity Consumption Vs European Countries

Which European countries consume more or less electricity than the amount consumed by global bitcoin mining

As mentioned, above the data for Bitcoin mining energy consumption comes from the Bitcoin Energy Consumption Index. You can read about their assumptions here.

Electricity consumption data mostly comes from the CIA via Wikipedia and is mostly for 2014, since that’s the most recent year available. Unlike some other sources it includes, residential, commercial and industrial use, so may be higher than other figures quoted elsewhere.

Bitcoin Mining Electricity Consumption Vs US States

While doing the research we also though it might be interesting to compare Bitcoin mining energy consumption to US states. So we created the map below:

Bitcoin Mining Electricity Consumption Vs US States

Overall, 12 States consume less electricity than Bitcoin Mining (Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming).

Growth of Bitcoin Mining Electricity Consumption

Growth of Bitcoin Mining Electricity Consumption

While Bitcoin Mining is only currently consuming 0.13% of the world’s electricity output, it’s growing incredibly quickly.

The Bitcoin Energy Consumption Index estimates consumption has increased by 29.98% over the past month.

If that growth rate were to continue, and countries did not add any new power generating capacity, Bitcoin mining would:

  • Be greater than UK electricity consumption by October 2018 (309 TWh)
  • Be greater than US electricity consumption by July 2019 (3,913 TWh)
  • Consume all the world’s electricity by February 2020. (21,776 TWh)

The Cost of Mining Bitcoins

The Bitcoin Energy Consumption Index estimates that the total annual cost of mining Bitcoins stands at $1.5 billion (£1.1 billion).

However, that assumes Bitcoin mining is occurring in places with cheap electricity (not an unreasonable assumption).

The US average retail price per kilowatthour is 10.41 cents, which means using 28.05 TWh would cost: $3.02 billion (£2.28 billion).

In the UK it would even more expensive, assuming you paid the rock bottom price of 10.10 pence per kilowatthour (Bulb’s prices for London homes) it would still cost £2.93 billion ($3.89 billion).

Interestingly, Bitcoin’s price increase over the last month has been just over 40%, which is greater than the increase in electricity consumption.

This means the estimated annualised global mining revenues now stand at $7.2 billion USD (£5.4 billion), which even at the more expensive estimates listed above, means it’s still very profitable.

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The US-Saudi Starvation Blockade

Authored by Patrick Buchanan via,

Our aim is to “starve the whole population - men, women, and children, old and young, wounded and sound - into submission,” said First Lord of the Admiralty Winston Churchill.

He was speaking of Germany at the outset of the Great War of 1914-1918. Americans denounced as inhumane this starvation blockade that would eventually take the lives of a million German civilians.

Yet when we went to war in 1917, a U.S. admiral told British Prime Minister Lloyd George, “You will find that it will take us only two months to become as great criminals as you are.”

After the Armistice of Nov. 11, 1918, however, the starvation blockade was not lifted until Germany capitulated to all Allied demands in the Treaty of Versailles.

As late as March 1919, four months after the Germans laid down their arms, Churchill arose in Parliament to exult, “We are enforcing the blockade with rigor, and Germany is very near starvation.”

So grave were conditions in Germany that Gen. Sir Herbert Plumer protested to Lloyd George in Paris that morale among his troops on the Rhine was sinking from seeing “hordes of skinny and bloated children pawing over the offal from British cantonments.”

The starvation blockade was a war crime and a crime against humanity. But the horrors of the Second World War made people forget this milestone on the Western road to barbarism.

A comparable crime is being committed today against the poorest people in the Arab world - and with the complicity of the United States.

Saudi Arabia, which attacked and invaded Yemen in 2015 after Houthi rebels dumped over a pro-Saudi regime in Sanaa and overran much of the country, has imposed a land, sea and air blockade, after the Houthis fired a missile at Riyadh this month that was shot down.

The Saudis say it was an Iranian missile, fired with the aid of Hezbollah, and an “act of war” against the kingdom. The Houthis admit to firing the missile, but all three deny Iran and Hezbollah had any role.

Whatever the facts of the attack, what the Saudis, with U.S. support, are doing today with this total blockade of that impoverished country appears to be both inhumane and indefensible.

Almost 90 percent of Yemen’s food, fuel and medicine is imported, and these imports are being cut off. The largest cities under Houthi control, the port of Hodaida and Sanaa, the capital, have lost access to drinking water because the fuel needed to purify the water is not there.

Thousands have died of cholera. Hundreds of thousands are at risk. Children are in danger from a diphtheria epidemic. Critical drugs and medicines have stopped coming in, a death sentence for diabetics and cancer patients.

If airfields and ports under Houthi control are not allowed to open and the necessities of life and humanitarian aid are not allowed to flow in, the Yemenis face famine and starvation.

What did these people do to deserve this? What did they do to us that we would assist the Saudis in doing this to them?

The Houthis are not al-Qaida or ISIS. Those are Sunni terrorist groups, and the Houthis detest them.

Is this now the American way of war? Are we Americans, this Thanksgiving and Christmas, prepared to collude in a human rights catastrophe that will engender a hatred of us among generations of Yemeni and stain the name of our country?

Saudis argue that the specter of starvation will turn the Yemeni people against the rebels and force the Houthi to submit. But what if the policy fails. What if the Houthis, who have held the northern half of the country for more than two years, do not yield? What then?

Are we willing to play passive observer as thousands and then tens of thousands of innocent civilians — the old, sick, weak, and infants and toddlers first — die from a starvation blockade supported by the mighty United States of America?

Without U.S. targeting and refueling, Saudi planes could not attack the Houthis effectively and Riyadh could not win this war. But when did Congress authorize this war on a nation that never attacked us?

President Obama first approved U.S. support for the Saudi war effort. President Trump has continued the Obama policy, and the war in Yemen has now become his war, and his human rights catastrophe.

Yemen today is arguably the worst humanitarian crisis on earth, and America’s role in it is undeniable and indispensable.

If the United States were to tell Crown Prince Mohammed bin Salman that we were no longer going to support his war in Yemen, the Saudis would have to accept the reality that they have lost this war.

Indeed, given Riyadh’s failure in the Syria civil war, its failure to discipline rebellious Qatar, its stalemated war and human rights disaster in Yemen, Trump might take a hard second look at the Sunni monarchy that is the pillar of U.S. policy in the Persian Gulf.

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Detroit’s Digital Divide: Low Income Citizens Build Their Own Internet

The city of Detroit, in the U.S. state of Michigan, has experienced an impressive economic and demographic shift over the past 50-years.

Deindustrialization coupled with depopulation has stripped the city of it’s economic strength cascading it into turmoil. Global competition from automakers shifted manufacturing jobs out of the area. As businesses left, communities decayed, inducing a terrifying surge in violent crime. Urban rot came next festering from within and eventually sending the city into bankruptcy in 2013 where it reemerged in 2014.

Five-years later, Detroit has gotten worse – not better - and the city is having trouble providing basic utilities for its residents.

In particular, the city along with internet service providers are failing to deliver high-speed internet to a significant part of the low income areas. 

That is why one community group of technology geeks have banded together to create an internet of their own.

Equitable Internet Initiative (EII) is a program that teaches Detroit residents how to build high speed WiFi networks. EII says Detroit is one of the top 5 least connected cities in the United States coupled with 60% of the city residents that do not have access to high-speed internet. The group aims to stop the growing digital divide that is leaving many low income residents behind and forgotten in the inner cities where there is only death and destruction.

EII has trained teams in the North End, Island View, and Southwest Detroit to setup infrastructure: a church that functions as a hub and internet service provider which then a signaled is beamed to communities that don’t have access to high-speed internet.

Residents who want internet from EII have to meet two requirements:

  1. can’t afford internet
  2. don’t already have internet or <10 Mbps

Once the requirements are met, EII will send a team to the residential location and install an outdoor directional antenna and an indoor router with a setup time around one-hour. EII recognizes that access to high-speed internet is a worldwide problem and if that is not fixed a “digital class system” will develop.

EII wants high-speed access for everyone..Popular Mechanics also said,

The EII offers a radical proposition that would allow people to get Internet outside of a major telecom. But it’s got its own money concerns. Initially, it worked off a federal grant. When that money dried up, the deal with Rocket Fiber made it viable again.


But that partnership will not cover the costs of more and more internet connections growing in perpetuity. Jenny Lee, the executive director of Allied Media Projects, the group behind EII, raised the question in a recent article. “How do we do this in way that doesn’t replicate the inequities of other utility companies? Are we going to be the equivalent of water department coming to shut you off if you don’t pay your bill?”


One way the group hopes it will prove its worth is by creating apps. Its Next Gen Apps program teaches students coding basics like CSS, HTML, Javascript, and Node.js. Combined with the EII’s efforts to provide internet in their areas, there’s a hope that people will truly make the internet their own.

Bottomline: Detroit is a prime example of citizens working together for survival in a post collapsed bankrupt city. The one question we have: how long until government shuts down this private internet?


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How Colin Kaepernick ‘Celebrated’ Thanksgiving

Former San Francisco 49ers quarterback Colin Kaepernick traveled to Alcatraz Island to participate in the Indigenous People’s Sunrise Gathering for Thanksgiving Thursday.

As The Daily Caller's Amber Randall reports, the event, also called “Un-Thanksgiving Day,” took place on Alcatraz to remember the group of American Indians who took control of the island prison between 1969-1971 in an attempt to claim the island for their people, reports KTLA.

“Today, I was on Alcatraz Island at the Indigenous People’s Sunrise Gathering, in solidarity with those celebrating their culture and paying respects to those that participated in the 19 month occupation of Alcatraz in an effort to force to honor the Treaty of Fort Laramie,” Kaepernick said in a tweet.

An American Indian elder also gave Kaepernick two eagle feathers, after which the former quarterback gave a speech declaring they were all fighting the same battle.

“I’m very humbled to share this space with all of you. Our fight is the same fight. We’re all fighting for our justice, for our freedom. And realizing that we’re in this fight together makes us all the more powerful,” Kaepernick said in a Twitter video.

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$1 Trillion Norway Wealth Fund Sees “Red Flag” In Real Estate Market

Back in September, we pointed out that assets managed by Norway's sovereign wealth fund had surged to over $1 trillion after they made the controversial decision to increase their exposure to global equity bubbles (see: Norway Wealth Fund Assets Surge To Over $1 Trillion On Massive 70% Allocation To Equities).  The move has worked out perfectly in the short term, though we still have our doubts as to whether the "greater fool" theory works over the long term...certainly it never has before but maybe this time is different.

Alas, as Bloomberg points out today, bubbles in equity markets aren't the only ones to have attracted the attention of Norway's wealth management team which is scooping up commercial real estate projects all over the world, despite their own acknowledgement of "red flags."

There may be worrying developments in some property markets, but the world’s biggest sovereign wealth fund says it has no intention of pulling back from real estate.


A gap is opening between what stock-pickers think real estate is worth and what assets could be worth in the physical market, a potential sign that a correction could be looming. For example, the largest real estate investment trust in the U.K., Land Securities, now trades at a 36 percent discount to net asset value.


“It’s clearly a red flag in pricing if anything is too far off in any direction,” Karsten Kallevig chief executive officer of Norges Bank Real Estate Management, said in an interview at his Oslo office on Wednesday.

So where are the Norwegians looking to lease you some office space?  Well, only in "prime spots" like New York's Times Square...

Kallevig, 43, now oversees $24 billion in key real estate, including much of London’s Regent Street, as well as properties on Times Square and the Champs Elysees, among other prime spots. Overall, the fund holds about $1 trillion in stocks, bonds and real estate, and is in the process of building its property holdings to about 7 percent of its total portfolio.


So far, the fund still has an appetite for new acquisitions. “I haven’t pulled back mandates, that’s for sure,” Kallevig said.


After splitting off from the rest of the fund’s benchmark portfolio and increasing its scope to buy real estate last year, Kallevig is expanding his internal top management team. In September, he appointed two new chief investment officers to oversee the U.S. and European markets.


The fund’s strategy is to focus on about 10 global cities. The new CIOs see similarities in Europe and the U.S., and are competing with largely the same bidders on both sides of the Atlantic for the most prestigious properties. “It’s the same type of names we’re seeing across all our markets, the deals that we target are relatively large,” Per Loken, who’s in charge of the U.S. markets, said in an interview.

Of course, they may want to take note of the tiny surge in commercial real estate capacity in New York that has recently resulted in massive tenants like Ernst & Young abandoning their 1 million square feet of office space in Times Square in favor of something in a less touristy area of town.

The most recent is Ernst & Young LLP. Its departure from 5 Times Square, announced this month, may leave the tower’s million or so square feet of office space empty. The neighborhood’s effective office rents -- the rents that tenants actually pay, after concessions -- have fallen by 1 percent annually for two years, according to CoStar Group Inc., a research firm that tracks office leasing.


One problem is a rise in tourism and a proliferation of panhandlers. Some are dressed as Elmo and Spider-Man; others, like the “desnudas,” are hardly dressed at all.


“It’s not ideal to wind through costumed characters on your way to work,” said Lauren Baker, New York City market analyst for CoStar. “There’s so much noise and commotion.” The neighborhood “obviously isn’t ideal for professional tenants,” she said.

As a study released last month by the New York Building Congress noted, a massive supply glut of new office space flooding the city has certainly made it easier for large firms like E&Y to find great deals.

The non-residential sector, which was responsible for 32 percent of all New York City construction spending in the decade between 2006 and 2015, accounted for 41 percent of all spending in 2016. The only other time over the past two decades that non-residential accounted for such a large share was 2010, when the rebuilding of the World Trade Center was at its peak and billions of additional dollars were being invested in the new Barclays Center and the renovation of Madison Square Garden.


At the moment, the primary driver of non-residential spending continues to be office construction, which is at its highest levels in three decades. The Building Congress estimates that 15 million square feet of office space will be completed in Manhattan alone during the three-year forecast period, with an additional 2 million square feet of office space anticipated for completion in the boroughs of Brooklyn and Queens.

On the bright side, at least Norway will be able to offer new tenants a first row view of Times Square's "desnudas" and other charming panhandlers.

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Daily Market Report for November 24 2017

November 24 2017 
 $268M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP 

Visit the About section on our blog for more information about the Kraken Daily Market Report here.

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Democrats Denounce Steyer’s Impeachment Push: “It’s Not Helpful”

California financier Tom Steyer’s $20 million ad campaign to impeach President Donald Trump has alienated some of the Democratic leaders with the influence to make impeachment a reality.

As The Daily Caller's Jack Crowe details, some within the Democratic leadership fear that aggressively pursuing impeachment will only serve to turn Republican and independents against the party and jeopardize their opportunity to flip Congress in 2018.

“I’ve been a very harsh critic of this president... But the impeachment message right now is not helpful to the possibility of retaking the House,” Democratic Rep. Jim Himes of Connecticut, chairman of the fiscally moderate New Democratic Coalition, told The Wall Street Journal.

Steyer, a billionaire hedge fund founder, dismissed the pragmatic criticisms brought by lawmakers and suggested the impeachment ads serve a higher goal.

“I understand that there are people who think that from a tactical political standpoint it may not be clever,” Steyer said. “We’re not trying to be clever.”

The ads have run on CNN, MSNBC and Fox News, local broadcast stations, Times Square and Twitter. The segments, which cast Trump’s firing of former FBI director James Comey as obstruction, direct viewers to a virtual impeachment petition website, that 2.6 million people have signed in the month since the campaign began.

Steyer, who has spent over $170 million to support Democratic causes and candidates over the last three years, claims the ad campaign is designed to put sufficient public pressure on lawmakers that they secure the necessary coalition to impeach.

Some Democrats appreciate Steyer’s enthusiasm but don’t believe his efforts are likely to assist in the party’s most pressing concern, the 2018 congressional races

“I like Tom, and he means well,” said Democratic Rep. Seth Moulton of Massachusetts.


“And he certainly believes he’s doing the right thing for the country….[but] I don’t think the impeachment conversation necessarily helps in House races.”

Steyer believes the 2016 election demonstrated the impotence of establishment politics and, as a result, he does not place much stock in the advice of establishment lawmakers.

“The Republican nominee wasn’t really a Republican. The person who energized the Democratic Party wasn’t really a Democrat,” Steyer said, referring to Trump and Vermont Sen. Bernie Sanders, an independent.


“So, when I hear the Washington establishment tell me, ‘Shut the f—up,’ I think, well, maybe.”

Despite the naysayers, Steyer’s ads have prompted some action on Capitol Hill. Democratic Rep. Steve Cohen of Tennessee, a member of the House Judiciary Committee, introduced five articles of impeachment on Nov. 15 after seeing one of the ads.

“I finally said after I saw that ad, I thought, ‘I need to move forward,'” Cohen said.

The impeachment articles, which received only six votes, cite Trump’s firing of Comey as obstruction of justice and allege that Trump violated the emoluments clause by accepting payment from foreign officials through his businesses. They also accuse the president of undermining the federal judiciary and freedom of the press.

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Bitcoin Cash’s Lead Dev Says Bitcoin Is Dead and Split into Two


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