Here’s Another Reason Why Bitcoin Could Soon Hit $6,000

It took less than a month for bitcoin investors to shake off China’s cryptocurrency crack down and Wall Street naysayers. On Friday, the price of bitcoin jumped within striking distance of $ 6,000 as optimism surrounding the cryptocurrency reignited thanks in part to traders using the Japanese yen.

That comes after the price of bitcoin shot as low as about $ 3,000 in mid-September, after Chinese authorities shuttered local cryptocurrency exchanges, while J.P. Morgan CEO Jamie Dimon dubbed bitcoin a “fraud.

But it was neither the U.S. nor China, which have dominated the cryptocurrency markets since its inception, that apparently led to the price of bitcoin to come back up. Until recently, China has represented the majority of bitcoin trading since about late 2013. In 2016 alone, the Chinese yuan represented 96% of all trading with bitcoin, according to data from CryptoCompare, helping the price more than double that year. In fact, trading in China has been so heavy that since 2010, the vast majority of trades has still largely been dominated by the yuan.

But since Chinese investors began leaving major bitcoin exchanges for over-the-counter markets, its been the Japanese yen that’s begun taking over the role that the yuan once held. Over the past month, bitcoin trading using the Chinese yuan slid to 5% of total trades, according to data from CryptoCompare. Traders using the Japanese yen meanwhile have become 51% of the market, with $ 30.3 billion changing hands over the past month based on bitcoin’s current price. The U.S. dollar meanwhile represented a lesser 31% of trades.

The reason for Japan’s surge? The country’s government “has been extremely accommodating towards cryptocurrencies and bitcoin in particular,” said Fran Strajnar, CEO of Brave New Coin. Bitcoin’s liquidity is “quickly move from Chinese yuan to Japanese yen and Korean won, simply because of friendlier legislation, better clarity and better infrastructure and access coming out of Japan and Korea.”

In Japan, the government has been proactive in regards to addressing bitcoin. The country passed a law in April recognizing bitcoin as a legal payment method, with its Financial Services Agency issuing operating licenses to its bitcoin exchanges earlier this year. Trading in Japan has also been an attractive choice as the country’s exchanges operate on a zero-fee trading system.

It’s an interesting shift in the dynamics of bitcoin. In the short history of the cryptocurrency, the price of bitcoin has been dominated by investors using either the yuan, or the U.S. dollar. In 2011 for instance, the U.S. was the main player. A flurry of Chinese investors flocked in thereafter. In the latter half of 2015 especially, bitcoin trading activity from China began to pick up as the yuan devalued, pushing investors toward bitcoin as a way to move assets outside the country.

Notably, while Korean investors are beginning to make up a larger part of the overall market, they are still a relatively small section at about 7% of total trades in the last month.

Now, says Strajnar, it’s “all eyes on Japan and Korea as they continue to pave the regulatory way and in turn dominate crypto liquidity.”

But in the near term at least, aside from legal developments related to cryptocurrency in the U.S., China, Japan, and South Korea, investors also have technological developments to look out for. And there are two major ones around the corner: one planned hard fork on Oct.25, and another expected Nov.18. A hard fork happens when a segment of cryptocurrency users decide they don’t update the blockchain’s underlying software, which effectively creates one new currency. As a result of the fork, bitcoin owners would receive an equal amount of the new coin.

So why are these hard forks potential reason to be buying into bitcoin? Well, says Charles Hayter, co-founder of CryptoCompare, look to the recent August fork of bitcoin and Bitcoin Cash. Bitcoin users disagreed on how to speed up and cheapen cryptocurrency transactions at the time, leading to the split. While some users worried that Bitcoin Cash’s existence would divert users to the new coin and undercut bitcoin’s legitimacy, it proved to be an unneeded worry. The price of bitcoin continued to surge upward. And to top it all off, bitcoin owners also received a equal amount of Bitcoin Cash following the fork. That made some users quite a bit wealthier.

“In bitcoin, one plus one seemed to equal three,” Hayter said.

That’s not to say bitcoin users are guaranteed a good outcome after the hard forks. The concerns around the split fragmenting support for bitcoin still exist today—but having a major global economy signal acceptance of the cryptocurrency certainly helps keep the outlook rosier.

This is part of Fortune’s new initiative, The Ledger, a trusted news source at the intersection of tech and finance. For more on The Ledger, click here.

Tech

Spotify’s New Playlist Is Full of Personalized Throwback Jams. Here’s How to Find It

Spotify just came out with a playlist that lets you reminisce to all of your favorite throwbacks.

The new “Your Time Capsule” playlist is meant to be “personalized playlist with songs to take you back in time to your teenage years,” according to the Spotify page. The streaming site says the playlist has a track list that lasts two hours. But, you’ll need to find it first. It’s also only available for users over 16, according to The Verge, otherwise it wouldn’t be much of a throwback.

There are three ways to get your Time Capsule playlist.

Browse Decades

Unlike other customized playlists like “Release Radar,” “Your Time Capsule” doesn’t come up under than main browse section. You can use that page to find the “Decades” playlist section. Among all the other time-based playlists, you’ll see the Time Capsule.

Go to the Time Capsule page

If you’re using the browser version, you can get to your playlist by going to timecapsule.spotify.com.

Search Time Capsule

If you plug in “time capsule” in Spotify’s search bar, the personalized playlist will should be one of the first results.

Tech

Here’s How Much Apple iPhone 8 Glass Repairs Are Going to Cost You

If you own an iPhone 8, now might be the perfect time to get a case.

The glass panel on the back of Apple’s iPhone 8 won’t qualify for a $ 29 replacement like the device’s glass screen. Instead, Apple will charge customers $ 99 for the first two back panel repairs. After that, customers could be forced to pay $ 349 or $ 399 for the iPhone 8 or iPhone 8 Plus, respectively, according to Apple-tracking site AppleInsider, which confirmed the cost with a company spokesman.

Apple’s (aapl) iPhone 8 has a new design, featuring a glass back panel. The glass allows for wireless charging coils inside the handset to interact with wireless charging pads, so users can boost battery life without wires. It also adds a design flair that users didn’t have in previous metal iPhones.

However, because the iPhone 8’s back panel is glass, if it takes enough of a beating, it could shatter, forcing users to either live with a jagged device or get it fixed.

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There was some hope among iPhone owners that Apple would offer the same replacement cost as a display since the back panel is made of glass. However, Apple told AppleInsider that it’s categorizing back panel repairs in the “other damage” category, bringing its price to $ 99, plus tax.

To safeguard against that cost, users can of course buy a case to protect the back panel. Opting for the company’s AppleCare+ would extend the $ 99 coverage price to two years. It costs $ 129 for the iPhone 8 and $ 149 for the iPhone 8 Plus.

Tech

Here’s the best way to avoid Pope Francis traffic if you’re desperate enough

Hallelujah, there’s a way around Pope traffic, at least for Manhattanites. And as always on very expensive island, it comes at a cost

Blade, a startup that provides Uber-like on-demand rides in helicopters, is offering rides across Manhattan for $ 95 on Friday, September 25th when the pope will be in New York City.

The head of the Catholic church is in the midst of a trip through the U.S. that has caused traffic snarls everywhere he goes due to tight security. Manhattan, where Pope Francis is staying, is expected to be a complete disaster

Image: Blade

Blade’s flights will travel about three miles, moving between 30th street on the far west side of Manhattan and ending at 34th street on the east side. The rides will be available during rush hour from 7:45 A.M. to 10 A.M. and then again from 5 P.M. to 7 P.M. Blade said the trips will take between five and eight minutes. Read more…

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EA Confirms ‘Star Wars Battlefront’ Open Beta For October 8 — Here’s What To Expect

Some Star Wars enthusiasts were disappointed to hear that EA/DICE’s Battlefront won’t feature server browser functionality (although thankfully dedicated servers are on the menu), but today is about celebration and anticipation: The Star Wars Battlefront open beta is primed and ready for October 8 across PlayStation 4, Xbox One, and PC platforms.


Cloud Computing

Here’s the one VR concept that the smartest people at Oculus admit they’re nowhere near figuring out

We finally have a workable virtual-reality platform, but plenty of obstacles are between us and a Star Trek-style holodeck.

If you reach out to touch a table, you’ll feel the molecules of that piece of furniture push against your hand. Do the same thing in virtual reality, and you’ll feel nothing. This is a problem — and it’s one of the few that Oculus VR says it has no idea how to solve.

The company held a keynote address as part of its annual Oculus Connect developers conference today, and it put on something of a parade of its top talent. Business-development leader Anna Sweet, Oculus founder Palmer Luckey, and even Facebook founder Mark Zuckerberg all took the stage. But one of the more interesting points came when Oculus chef scientist Michael Abrash gave an in-depth speech about everything the company needs to do to go from where VR is today to where it should get to in the future.

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Abrash talked about improving the visuals with a wider field of view. He talked about providing 3D audio. He even speculated about creating a chemical-based way to deliver various smells to Rift users.

For every problem, he posed a solution that is either possible today or one that the company sees a way to work to in the future. Well, he did that for every problem except one.

Abrash pointed out that no one is even working on a technology that will make it feel like your hand is touching a table where no table exists.

This is something I asked Palmer Luckey about in a conversation we had a few months ago. He told me — and Abrash’s talk today reiterates this point — that the company wants to solve every aspect of VR. He essentially wants Oculus working on a way to fool every one of your senses. When I asked him about touching an object and feeling like it exists, that led us to the aforementioned Star Trek holodecks. That sci-fi technology manifests protons that it can give mass to. When I posed that idea to Luckey as a joke, I was surprised that he had already considered the idea.

“Photons are a dead-end,” said Luckey then.

So while Oculus doesn’t know what will work to make objects feel real in VR, it has already scratched one idea off the list.

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Wileyfox is Europe’s newest mobile brand — here’s how its first smartphone stacks up

Fledgling European mobile phone brand Wileyfox announced its arrival in the smartphone realm a month ago, and now the London-based company is preparing to launch its first ever product: The Wileyfox Swift.

Initially slated for launch this week, Wileyfox revealed that shipping for the $ 200 Android device has been delayed until September 30. But while you wait, VentureBeat has grabbed some serious hands-on time with the phone, and here’s the lowdown on what you need to know.

Vital stats

Above: Wileyfox Swift: Rear view

The Wileyfox Swift is powered by Cyanogen OS, the commercial, customizable Android-based operating system from Cyanogen Inc. It sports a Qualcomm Snapdragon 410 quad-core processor, 5″ Gorilla Glass screen (1,280 x 720 pixels), 13MP rear-facing camera, 5MP front-facing camera, 2GB of RAM, and 16GB of storage (expandable up to 32GB). It also supports 4G, has two SIM card slots, and it will set you back €179 EUR (£129 GBP / $ 205 USD).

As a slight aside, launching a month after the Swift is the souped-up €279 (£199 GBP / $ 315 USD) Wileyfox Storm, which offers a 5.5″ full HD display, Qualcomm Snapdragon 615 octa-core processor, a whopping 20MP rear-facing camera, 3GB RAM, and 32GB of storage (expandable up to 128GB).

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Location, location, location — Not using geolocation to reach your mobile customers? Your competitors are. Find out what you’re missing.

Available for preorder now through the Wileyfox website, as well as online retailers such as Amazon, Expansys, and E-buyer, the Swift is pitched squarely at the EMEA (Europe, Middle East, and Africa) market, with localized call center support, a replacement screen service, and an extended three-year warranty offered for the equivalent of around $ 15 for each service.

That said, the phone can be purchased in other territories, including the U.S., but Wileyfox said the “experience will not be full” elsewhere. For example, in the U.S., data streaming would be limited because the phone uses CDMA — voice and SMS should be fine on the Swift, as would Wi-Fi, but 4G / LTE would suffer. And there won’t be dedicated phone support outside EMEA, either.

Look and feel

Perhaps the most immediately striking facet of the Wileyfox Swift is its looks — it doesn’t resemble a cheap phone, despite what its price would have you believe. The rough-ish, sandstone black rear, embossed logo, and colored brand marking gives it a premium feel.

Above: Wileyfox Swift (Right): Back

The front side sports a clear screen with no physical buttons, and down the right edge you’ll find the volume control and power button. On the bottom edge is the micro-USB port and two speakers.

Above: Wileyfox Front

Image Credit: Paul Sawers / VentureBeat

The Wileyfox Swift is noticeably light in the hand — at 135 grams, it’s 30 percent lighter than my OnePlus 2, though it is also around 0.5″ smaller. While this is good, it does make it feel a little bit cheaper to me — but that’s probably just because I’m used to a heftier handset.

Indeed, many people will like its deftness, and looking at other premium phones on the market, the Swift isn’t actually too light — the marginally larger Samsung Galaxy S6 weighs only 3 grams more, while the slightly smaller iPhone 6 comes in at 129 grams. In other words, the Swift is about the right weight for its size; it’s really just down to what you’re already accustomed to.

Under the hood

With Cyanogen OS on board, Wileyfox brings some useful features to the mainstream market. Cyanogen is already supported by many handsets, but in the West not many actually ship with the OS preinstalled.

Highlights include being able to lock some apps in protected folders on the home screen. Tap on a folder, hit the little padlock icon, enter a code, and voila.

Above: Folder protection

Other neat little touches include Privacy Guard, which gives users easy access to control what data is shared with which apps. And with Truecaller built in, the Swift can block spam calls and texts from specific numbers — a giant smack in the face to robocallers everywhere.

Above: Truecaller and App Privacy

General performance

One of the downsides of Cyanogen OS is that it is prone to bugs, and at times it’s not the most responsive to touch. For example, occasionally I would attempt to swipe down from the top to access notifications and settings, and literally nothing would happen. This was similar to what I experienced with the OnePlus One, which ran Cyanogenmod 12.

That said, it’s not prevalent enough for it to be a deal-breaker — it just gets a little frustrating at times for those 5 seconds or so I’m desperately trying to swipe the screen.

In terms of juice, the Wileyfox Swift packs a removable (yay!) 2500mAh battery that promises stand-by time of up to 200 hours and talk time of up to 10 hours (2G) or 8 hours (3G).

Of course, nobody really uses their smartphones for calling anymore — they use them for tweeting, WhatsApp-ing, Google Maps-ing, YouTube-ing, and Spotify-ing. I didn’t stress-test the battery; I used it as I would any phone throughout a day (Google Maps, Twitter, BBC News app, and very little media streaming), and it lasted from when I awoke to when I went to bed, at which point there was around 10 percent battery remaining.

Elsewhere, the 13MP camera works pretty well for daylight shots, but I found it lacked somewhat in clarity for low-lighting situations. But at $ 200, this was never promising the best lens on the market. The on-board dual speakers were actually pretty darn good for casual listening at this price point, though you would of course want to use a Bluetooth speaker if you’re hosting a party.

The cherry on the cake, for me, is the display. It may not be full HD, but I found the screen to be clear and crisp. Again, this isn’t going to be for perfectionists who love watching movies on their phone with all the trimmings, but for the price it’s definitely very good.

Above: Wileyfox display

Dual-SIM

This feature gets a special mention. dual-SIM phones are popular in many developing markets, but they’ve never really become much of a “thing” in the West. There’s no real reason why dual-SIM devices shouldn’t be popular in Europe or the U.S. — it was one of the reasons why I upgraded my personal phone to the OnePlus 2.

The use cases for dual-SIM are numerous. You can have one number for all your friends and family, and one for companies that may be inclined to call at inappropriate times. The second SIM slot can basically be your spam line, just like that Yahoo email account you keep for special occasions. You could have one domestic SIM and one business SIM, if you travel abroad often. Or you could have two domestic SIMs — one for calls and SMS, the other for Internet — if you find separate good deals from two companies.

And if you have absolutely no need for two SIMs, you don’t have to use that second slot.

Verdict

In our original assessment, we stated that Wileyfox wants to be the OnePlus of Europe. While the basic sentiment of that still rings true, it doesn’t really tell the whole picture — OnePlus sells premium phones at a knockdown price. The Wileyfox Swift is a decent mid-range device — and excellent value for the money — but it’s definitely not a premium phone.

The Wileyfox Swift should be well received when it finally goes to market. However, it sits in an awkward position for me. The customization options are excellent, but it feels a little like the handset is aimed at a more tech-savvy market, where fine-tuning privacy options are important. It’s a market, perhaps, that would be more inclined to shell out for a proper high-end phone.

That said, the Wileyfox Swift could find a sizable niche in the gift-giving fraternity. It’s the perfect price for someone to buy a family member / significant other for their birthday or Christmas. You probably wouldn’t buy a $ 600 iPhone for your dad, but you’d maybe drop a couple hundred bucks on a Swift.



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