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Today on Bitcoin This Week we comment on the impressive $18billion Bitmain is set to collect through an IPO, we discuss the newest patent by Intuit that will allow for people to send Bitcoins via SMS and much more.

Yale Economists Examine Bitcoin Price Predictions

Economists at Yale University have published the “first-ever comprehensive economic analysis of cryptocurrency and the blockchain technology on which it is based.” The paper, entitled “Risks and Returns of Cryptocurrency” highlights that there are more similarities between Bitcoin (and other cryptos) and conventional investments, than might be expected.

The risk versus return ratio of cryptocurrencies is quite similar to mainstream investments, with the return outweighing the risk in most cases. The author of the report, Aleh Tsyvinski, commented that while cryptos do not behave like conventional currencies, bonds or minerals; they do have a logic of their own and their behavior can be predicted using the same methods as those used for predicting popular assets. For example, any asset class increases in value the more attention it receives, and assets tend to increase in value when they have upward momentum.

Bitcoin ATMs Now A Target For Criminals

Malware designed to target Bitcoin ATMs can be purchased easily on the darknet, according to a report published by Trend Micro. The Japanese software manufacturer found that for $25,000, interested parties could purchase the malware, along with ready to use cards capable of being read by any Bitcoin ATM.

Bitcoin ATMs do not work like conventional ATMs, as they connect users to crypto-exchanges rather than to their banks. While Bitcoin mining gains the most attention, it appears that criminals are putting their resources towards illegally obtaining crypto through vulnerabilities in these terminals.

Bitcoin Transactions By SMS On The Way

You may soon be able to send Bitcoin using a simple SMS. US audit company Intuit has patented a new technology for sending and receiving Bitcoin through a text messaging service. The service will also include a “peer to peer virtual currency network” to act as a wallet for transactions.

Bitcoin detractors often point to the currency’s lack of real-world utility, and it is hoped that making transactions as simple as sending an SMS would signal a huge step towards bringing digital currencies into mainstream use.

Bitmain Set To Launch $18 Billion IPO

Bitmain, the world’s largest provider of Bitcoin mining equipment, looks set to embark on one of the most lucrative IPO’s in history. The mining giant’s IPO price is $3 billion more than previously expected, weighing in at an extraordinary $18 billion. Facebook’s much-publicized IPO raised $16 billion.

Bitmain is expecting profits of over $2 billion this year after a meteoric rise in the past few years. However, fellow Chinese company Alibaba still holds the record for the most lucrative IPO in history, raising over $25 billion when it went public in 2014.

Markets – Bitcoin Shows Slight Recovery

There was some relief for investors at the end of a turbulent week, with Bitcoin in the green on Sunday and trading at $6300. It appeared that Bitcoin was heading below $6000, opening at $6305 on Thursday, but closing up at $6528. Bears were gaining the upper hand on Friday, however, with the crypto sliding back to $6124. Saturday passed with a new month low of $6109 being defended, to close at $6295. By Sunday the coin was making slow progress above $6300.