GOOD

Cryptocurrencies Take A Big Hit After China Ends Exchange Trading

Bitcoin dropped about 40% this month.

Bitcoin (BTC) and other cryptocurrencies took a huge hit this week after the Chinese government decided to end its sale on exchanges at the end of the month. BTC was at an all-time high of nearly $5,000 at the beginning of September and dropped down to a four-week low near $2,900 Friday morning. Since then, the volatile currency has seen a sharp rise to back around $3,600.

China’s decision to end the sale of cryptocurrencies in exchanges marks the biggest crackdown by the communist country to reign in their growth. Two weeks ago, the country’s regulators banned fundraising through initial coin offerings, but regulators have yet to stop over-the-counter transactions. China has given no reason for its actions, but according to Bloomberg, it’s believed the country is attempting to mitigate financial risk before its once-every-five-years reshuffle of leadership in its Communist Party.


Photo by Marc van der Chijs/Flickr.

Although the price has dropped dramatically, some see it as an opportunity to take advantage. “This all because of China. Chinese investors have until September 30th to get their money out of exchanges before they close,” Brian Kelly, CEO and founder of BKCM told CNBC. “This is a market structure drop and not a drop on fundamentals, therefore this is a buying opportunity.” Recent comments by Jamie Dimon, CEO of JPMorgan Chase, however, have some investors scared of cryptos. “It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,” Dimon said at a banking conference. “Currencies have legal support. It will blow up.”

Money
via David Leavitt / Twitter

Anyone who has ever worked in retail knows that the worst thing about the job, right after the pay, are the unreasonable cheapskates who "want to talk to your manager" to get some money off an item.

They think that throwing a tantrum will save them a few bucks and don't care if they completely embarrass themselves in the process. Sometimes that involves belittling the poor employee who's just trying to get through their day with an ounce of dignity.

Twitter is rallying around a gal named Tori who works at a Target in Massachusetts after she was tweet-shamed by irate chapekate, journalist, and Twitter troll, David Leavitt.

Keep Reading
Business

Childbirth is the number one reason American women visit the hospital, and it ain't cheap. In fact, it's getting more and more expensive. A new study published in Health Affairs found that the cost of having a baby with employer-sponsored health insurance increased by almost 50% in the past seven years.

The study evaluated "trends in cost-sharing for maternity care for women with employer-based health insurance plans, before and after the Affordable Care Act," which was signed into law in 2010. The study looked at over 657,061 women enrolled in large employer-sponsored health insurance plans who delivered babies between 2008 and 2015, as these plans tend to cover more than plans purchased by small businesses or individuals.

Keep Reading
Health

A meteorite crashed into Earth nearly 800,000 years ago. The meteor was 1.2 miles wide, and the impact was so big, it covered 10% of the planet with debris. However, scientists haven't been able to find the impact site for over a century. That is, until now. A study published in the Proceedings of the National Academy of Sciences journal believes the crash site has been located.

Tektites, which are essentially rocks that have been liquefied from the heat of the impact and then cooled to form glass, help scientists spot the original impact site of a meteor. Upon impact, melted material is thrown into the atmosphere, then falls back to the ground. Even if the original crater has disappeared due to erosion or is hidden by a shift in tectonic plates, tektites give the spot away. Tektites between 750,000 to 35.5 million years old have been found in every continent except Antarctica.

Keep Reading