The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Blockchain

The various chart crimes of *that* Citi bitcoin report

by Miki 06/07/2021
by Miki 06/07/2021 0 comment

Citi put out an all-time basic of a report on bitcoin yesterday, as you’ll have already examine right here. And once we say basic, we imply probably the most execrable items of propaganda masquerading as “analysis” that we’ve got ever come throughout.

Not solely was this “report” truly only a large bitcoin-shilling train, it additionally contained some actually fairly embarrassing errors from what is supposed to be one of many high banks on the planet (and their “premier thought management” division at that).

The error that was most likely most surprising was the obvious failure of the six Citi analysts who authored the report to understand the distinction between foundation factors and share factors. As a refresher, the report mentioned the next about illicit transactions in bitcoin, after which proceeded to check that with these carried out on common credit score and debit playing cards:

The extent of such exercise can typically appear overblown based mostly on information headlines alone. In whole, simply over 2% of the exercise within the cryptocurrency area was linked to illicit exercise in 2019 and that whole was all the way down to solely 0.3% in 2020.

To place that determine in context, a funds examine commissioned by the Federal Reserve discovered that fraud represented 13.46% of combination credit score and debit card community exercise within the U.S.

Because it turned out, the Fed examine they refer to really mentioned that fraud represented 13.46 foundation factors — simply the 100-fold distinction, then. So we pointed this out to Citi who informed us they might right the report, they usually stayed true to their phrase. Right here’s the brand new graphic placing issues proper:

Humorous, isn’t it? Why didn’t Citi write that “13.46bp” determine as “0.1346%” in order to make the comparability simpler to see? It’s nearly as in the event that they need their readers to be confused with this crime towards charts. Additionally do be aware the textual content on the high of the graphic, particularly this bit:

Safety points with cryptocurrency do happen, however when in comparison with conventional funds, it performs higher.

Doesn’t fairly work now, that, does it? They should have been pressed for time. This, in the meantime, is how that part of the principle textual content now reads:

In whole, simply over 2% of the exercise within the cryptocurrency area was linked to illicit exercise in 2019 and that whole was all the way down to solely 0.3% in 2020.

To place that determine in context, a funds examine commissioned by the Federal Reserve discovered that fraud represented 13.46 foundation factors of combination credit score and debit card community exercise within the U.S.

So the numerical mistake is mounted however not the implication. Absolute jokers.

And now that we’ve obtained by way of the wordy stuff, feast your eyes on a number of the different charts within the report. We’ll let the charts do the speaking:

Later we’re given one other model of that chart:

They should have been fairly happy with the “North Star” concept. The time period is used 18 instances within the report.

Then there’s:

And:

And:

Oh and we must always simply depart you with Citi’s “acknowledgment” — they’re variety sufficient to not take all the reward for his or her steaming pile:

In getting ready to jot down this report, we accomplished a collection interviews [sic] with CEO’s [sic] and professionals of a number of the main custodians, prime brokers, exchanges, infrastructure, and asset administration corporations, along with choose consultants inside Citi. We thank them for all of their sharing their [sic] data and experience.

We’d additionally prefer to thank these “CEO’s” and “professionals of a number of the main custodians” for “all of their sharing their data and experience”, and for ensuring all viewpoints have been coated, so we depart you with an image of the actually wide-ranging bunch Citi selected for his or her report:

Associated hyperlinks:
Hey Citi, your bitcoin report is embarrassingly dangerous — FT Alphaville
Axes of evil — FT Alphaville

Supply hyperlink

Views: 1
BitcoinchartCiticrimesReport
Share
0
FacebookTwitterPinterestEmail
previous post
Max Keiser Does not Maintain Again Throughout Bitcoin Miami 2021 Convention
next post
Dogecoin Worth in Week Achieve of 20% to $0.372

Related Posts

Iran Bans Crypto Mining to Avert Major Blackouts...

12/29/2021

Italian Sports Car Maker Ferrari Inks Multi-Year Deal...

12/29/2021

ProShares Files for New Metaverse ETF With U.S....

12/28/2021

Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute...

12/28/2021

Binance Trading Platform Licenses in Bahrain, Canada

12/28/2021

Tokenized Bitcoin in Circulation Nears a Half Million...

12/28/2021

Ethereum 2.0 Full Upgrade Will Prompt a 1%...

12/28/2021

Iranian Crypto Miners get Cut Off as Country...

12/28/2021

Kraken Develops NFT Trading Platform, Offering Token-Backed Loans

12/27/2021

Crypto Review 2021 | Blockchain News

12/27/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • El Salvador Disables Bitcoin Price On App To Stop Scalpers

  • Ripple (XRP) Could Surge If It Settles Above This Key Hurdle

  • Will Ripple’s new ODL corridors impact XRP’s price?

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,987.00-1.65%
  • ethereumEthereum(ETH)$2,044.55-1.96%
  • tetherTether(USDT)$1.000.06%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • binancecoinBNB(BNB)$300.56-2.10%
  • rippleXRP(XRP)$0.428285-1.52%
  • cardanoCardano(ADA)$0.56-3.60%
  • SolanaSolana(SOL)$55.52-2.84%
  • Binance USDBinance USD(BUSD)$1.00-0.18%
  • dogecoinDogecoin(DOGE)$0.089358-1.31%
  • polkadotPolkadot(DOT)$10.54-5.81%
  • AvalancheAvalanche(AVAX)$33.50-2.80%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,950.00-1.68%
  • Lido Staked EtherLido Staked Ether(STETH)$2,010.52-2.09%
  • tronTRON(TRX)$0.0717661.08%
  • Shiba InuShiba Inu(SHIB)$0.000012-2.49%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.000.08%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$72.572.55%
  • CronosCronos(CRO)$0.197728-0.90%
  • matic-networkPolygon(MATIC)$0.70-1.92%
  • leo-tokenLEO Token(LEO)$5.093.29%
  • LADZLADZ(LADZ)$0.0686894.36%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.44-6.76%
  • FTX TokenFTX Token(FTT)$31.36-3.06%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$203.19-2.08%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.51-3.59%