Bears apply the pressure as Bitcoin price revisits the $41K ‘falling knife’ zone

Bitcoin traders say $43,600 needs to be regained to restore the bullish uptrend, but BTC futures and options data are showing signs of distress.

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Here's why Bitcoin mining stocks have been outperforming BTC price in 2021

One of the crypto mining stocks delivered more than 1,600% returns year-over-year (YoY) while Bitcoin's gains in the same period came out to be around 290%.

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How the Hasselblad XPan shooting mode on the OnePlus 9 can help you hone your skills as a storyteller

As much as I love digital cameras, and the freedom and flexibility they afford, I sometimes miss film. While there is certainly comfort to be found in the whirr of winding motors and the slap of massive mirrors, it’s the creativity born of adversity, so to speak, that I miss.

See, shooting film is restrictive. You only get 36 shots per roll, a reload takes time, and you won’t get to see your shots till days later. Shooting film teaches you to plan your shots ahead of time, to compose your shots better, to be a better photographer out of necessity. There’s no spray and pray here.

Powerful smartphone cameras make it easy to capture great images, but the quality of your images depends on how much thought you put into composition and framing. It’s partly for this reason that I’m intrigued by the OnePlus-Hasselblad partnership, and the introduction of an XPan emulation mode via an OTA for the OnePlus 9 series.
XPan, introduced by Hasselblad in 1998, was, and still is, unique. Images at the time were primarily captured on 35 mm film measuring 36 x 24 mm (a 3:2 aspect ratio).

Hasselblad took this a step further by widening the frame to 65 mm (65:24 or 2.7:1), exposing a larger area of film and creating an image that was very similar to cinema’s ultra-wide anamorphic aspect ratio of 2.39:1, but without the oval bokeh and lens flares.
With such a wide canvas to work with, and much like cinema, XPan quickly became a means for telling stories via stills. It’s not a format that’s easy to adapt to, but it’s a rewarding one once you do.

What’s interesting is that OnePlus with its Hasselblad partnership has sought to emulate not just the field of view, but also the experience of shooting on black and white film stock from that era. Switching to XPan mode in the OnePlus camera app crops the frame to a 65:24 aspect ratio, emulating an XPan viewfinder, and replaces the regular shutter button with a Hasselblad-esque orange one. Using either the wide or the ultra-wide camera, the app also attempts to emulate the 65 mm and 45 mm focal lengths of the original XPan lenses.

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Pressing the orange shutter button captures the image, but you’re first presented with a colour negative that quickly transforms into the final image. For some, this might seem like a gimmick and an unnecessary delay at a time where instant feedback is the norm, but that delay can also be thought of as a means of forcing you to consider a more measured approach to your photography.

You could use the XPan mode as just a filter, but it can be more than that. As a medium for honing your skills as a storyteller and for recapturing the charm and thrill of a bygone era, it’s a step in the right direction.

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EBikeGo to install one lakh EV chargers in seven cities, gears up for Rugged G1 e-scooter launch

As it readies to launch its first electric scooter, electric two-wheeler rental firm EBikeGo has announced it will install at least one lakh EV chargers across India over the next 12 months. The company has already begun setting up its Internet of things (IoT)-enabled chargers in Mumbai, and will continue to add more such chargers across six other cities – Delhi, Hyderabad, Bangalore, Indore, Pune and Amritsar – as it gears up to introduce the Rugged G1 electric scooter for purchase in the coming months.

What will grab attention is the fact that EBikeGo says it will install these IoT-enabled EV chargers – which can be used by both electric two- and three-wheelers – every 500 metres. A dense charging network will help alleviate range anxiety to some extent and boost buyer confidence in the everyday practicality of riding an electric two-wheeler.

Users of the ‘EBikeGo Charge’ station will be able to make payments using EBikeGo’s app, which will also offer predetermined recharge plans as well as real-time stats on the charging, and the charger has an in-built cut-off function when it detects the battery is fully topped up. Additionally, the app will let users plan their route according to the availability of chargers along the way, and will also provide real-time information on charger availability.

The EBikeGo charger is a 16-amp unit with an output of up to 3.3 kW, has a three-pin power socket, LED indicators to denote state of charge, and features Wi-Fi and RFID functionality.

As for the scooter itself, the EBikeGo Rugged G1 (equipped with a 1.9 kWh lithium-ion battery) will be available in two versions – the single-battery G1 (Rs 84,999) and the dual-battery G1+ (Rs 1,04,999); the first 1,000 buyers will get an additional discount of Rs 5,000. These prices include the FAME-II subsidy of Rs 27,000 for the G1 and Rs 54,000 for the G1+.

Power comes from a BLDC hub motor – that EBikeGo claims is the first indigenous hub motor for an Indian electric two-wheeler – that has a nominal output of 1.5 kW (2 hp) and a peak output of 3 kW (4 hp). In Eco mode (top speed restricted to 35 kph), the Rugged G1 has a claimed ‘true’ range of over 80 kilometres, while the Rugged G1+ has a range of over 160 kilometres. In Power mode (top speed raised to 75 kph), range for the G1+ drops to 135 kilometres.

Pre-orders for the EBikeGo Rugged G1 are open now, with the reservation amount set at Rs 499, and EBikeGo is aiming to commence deliveries of the scooter from November this year.

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Bitcoin whales move 'record' BTC value as metric sounds alarm over price volatility

Bitcoin price action may be boring for many, but whales have been busier than ever behind the scenes, data suggests.

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62% of institutions to start investing in crypto within a year: Survey

Institutional investors expect to start buying crypto to increase their revenues over the long term.

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Samsung Galaxy M52 5G launched in India at a starting price of Rs 29,999: Check features, specs here

Samsung has launched the Galaxy M52 5G in India, the most powerful offering in its M series of smartphones. According to the press release, the phone packs Snapdragon's 778G processor and offers support for 11 5G bands for a seamless 5G experience. It also features Android 11 OS as well as the One UI 3.1 interface.

The phone is set to be available at Rs 29,999 for 6 GB RAM and 128 GB storage version, and Rs 31,999 for the 8 GB and 128 GB variant at select retail stores as well as on Samsung India's website, Amazon and other leading online portals.

The Galaxy M52 5G is the slimmest smartphone from the company’s M series of devices, and measures in at just 7.4mm thick. The smartphone comes in two vibrant colours - Blazing Black and Icy Blue. Samsung says the phone is 21 percent 'sleeker' than its predecessor, weighing a mere 173 grams.

The Galaxy M52’s Snapdragon 778G processor is said to provide enhanced performance and better power efficiency thanks to its 6nm chipset. Compared to its predecessor, the new processor is said to improve CPU performance by 55 percent and GPU performance by 85 percent.

The Galaxy M52 packs Samsung Pay (NFC) for contactless digital payments. It will also include Samsung Knox, the company’s defence-grade security platform for data privacy and malware protection. Users can easily switch between public and private modes with a double-click of the side button with the Alt Z feature.

It also promises a fulfilling entertainment experience with Dolby Atmos surround-sound tech and a 6.7-inch FHD+ sAMOLED+ Infinity-O display with a 120 Hz refresh rate.

The phone comes with a 5,000 mAh battery and support for 25 W quick charging. It has a triple camera set-up, including a 64 MP main camera, 12 MP ultra-wide lens and a 5 MP macro lens. It also boasts of a 32 MP front camera.

The Galaxy M52 5G will also be available at the start of Amazon’s Great Indian Festival sale on 3 October, where consumers will be able to get the phone at a special introductory price of Rs 26,999 for the 6 GB RAM and 128 GB storage variant and Rs 28,999 for the 8 GB RAM variant.

 

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Verifone to enable crypto payments at major retailers through BitPay

One of the world’s largest point-of-sale providers has partnered with BitPay to allow U.S.-based merchants to accept crypto payments

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Crypto tax ‘a top enforcement priority,’ reminds IRS Commissioner

The IRS’ commissioner says crypto gains are taxable in the cannabis industry as the IRS treats cryptocurrencies as property.

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India reportedly in talks with Taiwan to establish $7.5 billion semiconductor plant amid chip shortage

In order to address the global semiconductor chip shortage issue, India is in talks with Taiwan. According to an exclusive report by Bloomberg, this could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year.

The Bloomberg report said that officials in New Delhi and Taipei have met in recent weeks to discuss a deal that would bring a chip plant worth an estimated $7.5 billion to India to secure supply of semiconductors for everything – from 5G devices to electric cars.

World leaders and executives at multinational corporations have been worried about the global scarcity of semiconductors, which has hit manufacturing and sales in numerous countries and no early solution is in sight.

What caused the semiconductor shortage?

Semiconductors, or chips, have properties that are somewhere between conductors and insulators. Usually made of silicon, they are used to power a wide range of devices - cars, laptops, smartphones, household appliances and gaming consoles.

These tiny objects perform a host of functions such as powering displays and transferring data. So, a supply crunch has a consequent impact on sales of cars, fridges, laptops, TVs and other electronic devices.

Manufacturing cannot be increased on short notice. As a Bloomberg report points out, making chips is a complex process that takes months.

Taiwan Semiconductor Manufacturing Corporation (TSMC) is the world’s largest contract chipmaker, whose customers include Qualcomm, Nvidia and Apple. It holds 56 percent of the foundry business of manufacturing chips.

The surge in sales for electronic devices during the pandemic created a huge demand for semiconductors. But COVID-19 is not the only factor behind the shortage.

The tense relationship between the United States and China is also a factor, since many US companies do business with Chinese companies. For instance, Huawei, which supplied to American chip makers, has been blacklisted by the US government.

What are the possible fallouts?

Since production cannot be pushed at short notice, it takes chip manufacturers a long time to catch up with demand.

A report published by Gartner in May estimates that the chip shortage across categories of devices could continue well into the second quarter of 2022.

“The semiconductor shortage will severely disrupt the supply chain and will constrain the production of many electronic equipment types in 2021. Foundries are increasing wafer prices, and in turn, chip companies are increasing device prices," said Kanishka Chauhan, principal research analyst at Gartner.

One report by Bloomberg points out that chip lead times, or the period between ordering semiconductors and delivery, rose to a record 21 weeks in August, from six weeks in July.

According to data from Society of Indian Automobile Manufacturers (SIAM), automobile wholesales in India declined 11 percent year-on-year in August.

Maruti Suzuki, India’s largest carmaker, will see a 60 percent cut in production in September due to shortage in supply of semiconductors.

Mahindra and Mahindra M&M said it would cut output by 20-25 percent in September due to the semiconductor shortage. The automaker will observe seven “no production days" at its automotive plants during the month.

There is a strong likelihood that the semiconductor shortage will impact sales during the upcoming festive season in India.

What about laptops, smartphones, etc.?

Production of electronic devices has also been impacted by the shortage of semiconductors.

During a post-earnings call with analysts, Apple CEO Tim Cook had said that “supply constraints will hurt sales of iPads and iPhones. Cook said the shortage is not in high-powered processors, but “legacy nodes,” or chips that perform functions like driving displays or decoding audio, which can be manufactured using older equipment.

South Korea’s largest conglomerate Samsung Group had in August said it would invest 240 trillion won ($206 billion) in the next three years to expand its footprint in biopharmaceuticals, artificial intelligence, semiconductors and robotics.

Many tech companies have begun developing their own chips, a move that will not only alleviate the current supply concerns but will likely help the industry in the long-run.

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Toyota Fortuner, Innova Crysta, Glanza, Urban Cruiser and Camry to cost more from 1 October

Toyota India has announced an imminent price hike for all locally-produced models. Starting 1 October, models such as the Toyota Fortuner, Toyota Innova Crysta, Toyota Glanza, Toyota Urban Cruiser and Toyota Camry will see their prices being hiked by up to two percent, a move forced by the need to partially offset rising input costs, said Toyota in a statement.

"This hike is necessitated to partially offset the increase in input costs. The overall price increase has been tapered down considering the impact on our valued customers," read Toyota’s statement. The only vehicle in Toyota India’s current portfolio to not see a price hike at present is the Vellfire luxury MPV, which is a full import and is priced at Rs 89.90 lakh (ex-showroom).

This announcement follows the news of the Toyota Yaris sedan being discontinued in India, after having been on sale for just a little over three years.

In the last one year, there has been a gradual increase in the prices of various essential commodities like steel and precious metals. It has led to increased input costs for the automakers.

Already various companies have announced to increase prices from next month.

Last week, Tata Motors said it will increase prices of its commercial vehicle range by around two percent with effect from October 1. Similarly, the country's largest carmaker, Maruti Suzuki India, has increased prices of its entire product range, except the soon-to-be-replaced Celerio, by up to 1.9 percent. The company had noted that it has taken the decision to hike prices due to an increase in various input costs. It was MSI's third price hike this year.

In the two-wheeler space, Hero MotoCorp has raised prices three times already this year. The company made an upward revision in the ex-showroom prices of its motorcycles and scooters by Rs 3,000 with effect from September 20. The two-wheeler major had earlier increased prices of its motorcycles and scooters by up to Rs 1,500 in January, and again by Rs 2,500 in April this year citing rise in input costs.

With inputs from PTI

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