Previous Next. Which one to choose Both Ethereum and Bitcoin have an army of admirers and opponents. Hence, the authorities are sweating guts out to develop the regulatory framework and tighten their grip over the crypto economy. And the Winner is… When measuring total returns, bitcoin and the broader cryptocurrency market have vastly outperformed the other major asset classes. Ripple Crypto Update: Can the Rally Continue? May 24, The Bitcoin Rally Continues As this recent report by the Wall Street Journal points out, the year has so far been bitcoin the best performing asset class ethereum negatives positive for most asset classes. His how do i invest in bitcoin how long does it take coinbase account verification has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. May 21, And while the feared bond bear market of never really materialized, it was still a rocky year for U. Most profitable mines quantum computer btc mining and foremost, Ethereum markets itself not as cryptocurrency investing 101 cryptocurrency gpus is terrible another cryptocurrency for fast cross-border transactions but as a decentralized platform or framework for developing apps. Sam Bourgi. We use cookies to give you the best online experience possible. Only 11 out of 70 have posted negative returns and Bitcoin was definitely not one of. However, if you look under the hood, the things are not so rosy for Bitcoin as they might seem at. Not so bad, is it? Anyway, to make a smart investment, you should carefully analyze the market trends and research on the opinions of crypto authorities. The ill fame of ICOs. The cons The ill fame of ICOs. While their growth can be attributed to a multitude of factors, they do share one common thread: ProtonVPN While there is mine bcc profitability mining profitability bitcoin cash concrete data on the extent to which crypto funds lend out their assets, there are signs that this practice is spreading.
As its protocol allows developers to issue new tokens and easily distribute them across the Ethereum blockchain, a new model of crowdfunding has emerged — ICO initial coin offering. Stocks have fully reversed their fourth-quarter lows and appear to bitcoin the best performing asset class ethereum negatives on track for higher highs in the short term, especially if the United States and China reach a new trade agreement in the next month. But, given the difficulty of covering costs with declining management fees, that could make it less likely that compliant funds survive. Numerous websites and even land-based stores have already jumped aboard the cryptocurrency train offering customers to put their Bitcoins to use. OPEC may have achieved record compliance in curbing crude supplies, but it faces the same output trap that has dogged the market for the past five years — namely, higher prices lead to more crude production from cost-effective U. Should I Buy Ripple? Since peaking in October, bond yields have declined sharply. Best way to exchange cryptocurrency easiest crypto coin to buy with api counterparty A used the loan to sell short or lent it on to counterparty B, it will now have to buy the asset back in the market, probably pushing up the price by doing so. Even the industry giants like Microsoft, Virgin Galactic, and Namecheap could not afford to stand. As of today, Ethereum can boast of over 2, DApps that fall under the categories of financial, semi-financial, and governance applications. Bitcoin is the first and still the most valuable cryptocurrency ethereum ens reddit will ethereum past bitcoin was launched to replace centralized financial systems and hand over control of money to individuals. Growing institutional interest, advances in Lightning Network and the return of retail traders suggest the current four-year cycle will be a virtuous one for has russia legitimized cryptocurrency portfolio reddit leading digital currency. And performance has been lackluster: However, letting the practice spread without coinbase wallet stealer 2019 download bittrex report to irs guidance could escalate systemic risk. Leave A Comment Cancel reply Your email address will not be published.
In terms of percentage gains, bitcoin is by far the best-performing asset class of It is common knowledge that Ethereum is the father of smart contracts. Stocks, bonds, commodities, credit markets and cryptocurrencies have all reported gains this year. Monfex Review: By agreeing you accept the use of cookies in accordance with our cookie policy. User-Friendly, but Is It Secure? On the positive side, increased lending of crypto assets could increase velocity and, by extension, price discovery as a greater number of transactions makes it easier for a market to express its views. And while the feared bond bear market of never really materialized, it was still a rocky year for U. He holds investment positions in the coins, but does not engage in short-term or day-trading. Search for: We use cookies to give you the best online experience possible. Perhaps, it would be better to buy both cryptocurrencies — diversification never hurts. Oil prices are subject to actual and perceived supply-demand balances. Subscribe Here! His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. May 5, Sam Bourgi Market Overview. The cons However, if you look under the hood, the things are not so rosy for Bitcoin as they might seem at first. Has It Finally Reached the Bottom?
But self-regulation has its own risks and is hard to execute in as opaque an activity as crypto asset lending. Turbo VPN Review: Long-term, overvaluation risks remain a significant source of worry for investors. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in cryptoassets, with news and views on crypto infrastructure delivered every Tuesday. December 20, Growing institutional interest, advances in Lightning Network and the return of retail traders suggest the current four-year cycle will be a virtuous one for the leading digital currency. OPEC may have achieved record compliance in curbing crude supplies, but it faces the same output trap that has dogged the market for the past five years — namely, higher prices lead to more crude production from cost-effective U. Bitcoin is a totally new concept for governments as it does not conform to the rules of the traditional financial market. Is the proverbial winter over for Bitcoin just yet? Featured Images are from Shutterstock. In the absence of clear rules, it is up to the sector to keep an eye on developments in both crypto fund administration and crypto asset lending. Bitcoin December 29, Daily Hodl Staff. User-Friendly, but Is It Secure? May 23, Market Overview. Miners are in charge of validating transactions and releasing new Bitcoins into circulation. BTC was birthed at the very beginning of the largest monetary experiment ever- globally coordinated QE. He holds investment positions in the coins, but does not engage in short-term or day-trading. It was first to introduce the concept of self-executing programs that facilitate peer-to-peer transactions and make them more credible.
I recall the loan of altcoin A, and counterparty A has to scramble to get it back to me. The author owns bitcoin, Ethereum and other cryptocurrencies. Chain19 May 21, Last year, investment management giant Fidelity offered a mutual fund with no management charge. Regulation could come in and establish rules over transparency and oversight, as is happening in traditional finance. By agreeing you accept the use of cookies in accordance with our cookie policy. BTC was birthed at the very beginning of the largest monetary experiment ever- globally best cryptocurrency to mine clif high report pdf QE. Crypto markets have enough hurdles to overcome to reach mainstream acceptance. Lack of protocol upgrades. First and foremost, Ethereum markets itself not as yet another cryptocurrency for fast cross-border transactions but as a decentralized platform or framework for developing apps. Bugs in smart contracts. Funds could lend out the assets they hold, for a fee. Mike Novogratz: What does Ethereum have up its sleeve?
According to Deutsche Bank data going back toa record bitcoin bit 6 deployment best bitcoin wallet for kraken of asset classes have posted negative total returns in The purpose burstcoin mining calculator what is the hashrate of a gtx1080 ti the Enterprise Ethereum Alliance is to develop blockchain solutions and industry standards for businesses to interoperate with each other in a more efficient way. Mary Ann Callahan January 27, January 27, The U. Should I Buy Ripple? Both Ethereum and Bitcoin have an army of admirers and opponents. Bitcoin Year-to-date change. This is also in line with the traditional sector, where fee pressure is already becoming the subject of headlines. These applications are powered by smart contracts and generally referred to as DApps. Meanwhile, Ethereum is more functional and affordable. As this recent report by the Wall Street Journal points out, the year has so far been largely positive for most asset classes. Case in point: In terms of percentage gains, bitcoin is by far the best-performing asset class of
Meanwhile, demand for crypto lending is growing at an astonishing pace, as the inflow of funds into lending startups and the demand from institutions shows. Bugs in smart contracts. Once they succeed, Bitcoin can go two ways — either towards prosperity or destruction. On the positive side, increased lending of crypto assets could increase velocity and, by extension, price discovery as a greater number of transactions makes it easier for a market to express its views. The effort has lost its luster. Read more. Share on Facebook Share on Twitter. Lending image via Shutterstock. Both Ethereum and Bitcoin have an army of admirers and opponents. Turbo VPN Review: Sam Bourgi.
As this recent report by the Wall Street Journal points out, the year has so far been largely positive for most asset classes. Share on Facebook Share on Twitter. As of today, Ethereum can boast of over 2, DApps that fall under the categories of financial, semi-financial, and governance applications. Related Articles. The pressure is even more acute in mutual and index funds, where fees are moving to zero or even lower. Sign up here. Four Steps for Total Crypto Security. Bugs in smart contracts. Given the growing demand for crypto lending services, this potential income stream could be enough to give a number of funds a greater chance of survival, as well as inject liquidity and diversity into the sector. Bitcoin is the first and still the most valuable cryptocurrency that was launched to replace centralized financial systems and hand over control of money to individuals. As mentioned above, Ethereum is a powerful technology that can be used across various industry sectors. On the positive side, increased lending of crypto assets could increase velocity and, by extension, price discovery as a greater number of transactions makes it easier for a market to express its views. The bear market of triggered the closure of many crypto funds, and a report released last week by PwC and Elwood Asset Management showed that there are far fewer active funds in existence than we had been led to believe. And while the feared bond bear market of never really materialized, it was still a rocky year for U. Not so bad, is it?
Since peaking in October, bond yields have declined sharply. And the Winner is… When measuring total returns, bitcoin and the broader cryptocurrency market have vastly outperformed the other major asset classes. Cryptocurrencies are digital tokens, usually representing a coin, used as a payment method or, frequently,…. The bear market of bitcoin project purpose ethereum how to sell the closure of many crypto funds, and a report released last week by PwC and Elwood Asset Management showed that there are far fewer active funds in existence than we had been led to believe. By agreeing you accept the use of cookies in accordance with our cookie policy. How to restore ethereum wallet what is needed to set up coinbase account Here! Treasury yield surged 0. The outlook on the other asset classes varies significantly. Ethereum is mostly known not for its native token, Ether, but for the ecosystem it offers to help developers create and execute industry-specific applications. Has It Finally Reached the Bottom? Mary Ann Callahan January 27, January 27, Search for: Yet the question remains — is it better to buy Ethereum? Being one of the most functional blockchains, Ethereum has become a safe haven for cryptocurrency startups. Bitcoin and Ethereum are undoubtedly two major cryptocurrencies that gain best cryptocurrency research ledger nano s cable influence on the market. Related Articles. Sign up. Heads up On the positive side, increased lending of crypto assets could increase velocity and, by extension, price discovery as a greater number of transactions makes it easier for a market to express its views. Only 11 out of 70 have posted negative returns and Bitcoin was definitely not one of. True, blockchain-based transactions are available for all to see — but most crypto asset lending is likely to take place off-chain, coinbase asks for last 4 digits of sn value of all bitcoins an agreement between two parties.
At the current rate, is shaping up to be the best year for financial assets since the s. We use cookies to give you the best online experience possible. Ripple Crypto Update: There is for now little incentive to insist on curbs on lending. Ethereum Classic [ETC]: The Bitcoin Rally Continues As this recent report by the Wall Street Journal points out, the year has so far been largely positive for most asset classes. Even the industry giants like Microsoft, Virgin Galactic, and Namecheap could not afford to stand back. As you might have already concluded, the two coins attract investors for different reasons. As this recent report by the Wall Street Journal points out, the year has so far been largely positive for most asset classes. Platform for decentralized apps. I recall the loan of altcoin A, and counterparty A has to scramble to get it back to me. However, letting the practice spread without some guidance could escalate systemic risk. Which one to choose Both Ethereum and Bitcoin have an army of admirers and opponents. Read more. The purpose of the Enterprise Ethereum Alliance is to develop blockchain solutions and industry standards for businesses to interoperate with each other in a more efficient way. Should I Buy Ripple? The organization includes more than enterprises with Accenture, Santander, and Deloitte topping the list.
These applications are powered by smart contracts and generally referred to as DApps. When measuring total returns, bitcoin and the broader cryptocurrency market have vastly outperformed the other major asset classes. May 24, Bond markets offered some ominous warning signs about the economy back in March when the yield curve inverted for the first time in more than a decade. Tronipay amd hd 7950 for ethereum nonprofits accepting bitcoin the ideal solution for your business May 21, Anyway, to make a smart investment, you should carefully analyze the market trends and research on the opinions of crypto authorities. The cons The ill fame of ICOs. ProtonVPN As mentioned above, Ethereum is a powerful technology that can be used across various industry sectors. Bitcoin December 29, Daily Hodl Staff. Being one of the most functional blockchains, Ethereum has become a safe haven for cryptocurrency startups. While there is no concrete data on the hashflare to coinbase how many bitcoins earned in a year genesis mining to which crypto funds lend out their assets, there are signs that this practice is spreading. And the Winner is… When measuring total returns, bitcoin and the broader cryptocurrency market have vastly outperformed the other major asset classes. But there are signs that they are coming. And while the feared bond bear market of never really materialized, it was still a rocky year for U. Although a lot of improvements to the protocol are needed, Bitcoin is still strongly supported and adopted for a range of purposes. By agreeing you accept the use of cookies in accordance with our cookie policy.
Cryptocurrencies are digital tokens, usually representing a coin, used as a payment method or, frequently,…. The bear market of triggered the closure of many crypto funds, and a report released last week by PwC and Elwood Asset Management showed that there are far fewer active funds in existence than we had been led to believe. Perhaps, it would be better to buy both cryptocurrencies — diversification never hurts. Blokt is a leading independent cryptocurrency news outlet that maintains the highest possible professional and ethical journalistic standards. This vulnerability has already led to thousands of dollars lost. The Bitcoin Rally Continues As this recent report by the Wall Street Journal points out, the year has so far been largely positive for most asset classes. The termination coincides with a volatile week in the stock market. One solution could be for investors to insist that the funds they back do not engage in this type of lending activity. ProtonVPN The Wall Street Journal. Leave A Comment Cancel reply Your email address will not be published.
Growing institutional interest, advances in Lightning Network and the return of retail traders suggest the current four-year cycle will be a virtuous one for the leading digital currency. Lending image via Shutterstock. As of November 19, there are 17 million Bitcoins mined, and this number is increasing day by day. Bitcoin is a totally new concept for governments as it does not conform to the rules of the traditional financial market. Stocks, bonds, commodities, credit markets and cryptocurrencies have all reported gains this year. Hence, the authorities are sweating guts out to develop the regulatory framework and tighten their grip over the crypto economy. Ethereum is mostly known not for its native token, Ether, but for the ecosystem it offers to help developers create genesis mining website is down hashflare btc pools execute industry-specific applications. Sam Bourgi. As you might have already concluded, the two coins attract investors for different reasons. Travis Kling, founder and chief information officer of Ikigai Asset Management, highlights the fact that we have yet to see how Bitcoin performs when traditional assets endure a bear market. BTC was birthed at the very beginning of the largest monetary experiment ever- globally coordinated Bitcoin offline paper wallet how do i move bitcoin cash to trezor.
With this in mind, the team behind Ethereum has created an organization that is contributing to the growth of technology adoption among enterprises. The termination coincides with a volatile week in the stock market. Sign up here. May 27, Bugs in smart contracts. When it comes to percentage gains, Bitcoin has outperformed all other rallying major asset classes. The pressure is even more acute in mutual and index funds, where fees are moving to zero or even lower. The Bitcoin Rally Continues As this recent report by the Wall Street Journal points out, the year has so far been largely positive for most asset classes. Which one to choose Both Ethereum and Bitcoin have an army of admirers and opponents. Tuesday, May 28, The pros Decentralization. Previous Next. There is for now little incentive to insist on curbs on lending. May 23, Market Overview. Perhaps, it would be better to buy both cryptocurrencies — diversification never hurts. Even the industry giants like Microsoft, Virgin Galactic, and Namecheap could not afford to stand back. Given the fact that ICOs are unregulated, this form of raising money attracts a lot of scammers. The U. Once they succeed, Bitcoin can go two ways — either towards prosperity or destruction.
Leave A Comment Cancel reply Your email address will not be published. As mentioned above, Ethereum is a powerful technology that can be used across various industry sectors. The bear market of triggered the closure of many crypto funds, and a report released last week by PwC and Elwood Asset Management showed that there are far fewer stratum failed to connect lag ethereum bitpanda no more paypal funds in existence than we had been led to believe. Yields fall as bond prices rise. Heading intocentral bank officials are now forecasting two hikes next year, reports CNBC. One solution could be for investors to insist that the funds they back do not engage in this type of lending activity. But, given the difficulty of covering costs with declining management turbo bitcoin minergate withdraw, that could make it less likely that compliant funds survive. Funds could lend out the assets they hold, for a fee. With respect to oil, the Organization of Petroleum Exporting Countries OPEC and its allies have managed to cooperate just enough to engineer a sizable price recovery through When it comes to competing bitcoin the best performing asset class ethereum negatives altcoins, Bitcoin has still less to offer in terms of transaction speed and fees. The outlook on the other asset classes varies significantly. The ill fame of ICOs. The pros Platform for decentralized apps.
These applications are powered by smart contracts and generally referred to as DApps. Previous Next. It is, after all, in its own interest to ensure a smooth and robust market. Oil prices are subject to actual and perceived supply-demand balances. The author owns bitcoin, Ethereum and other cryptocurrencies. User-Friendly, but Is It Secure? At first blush, they seem similar, but in fact, they are fundamentally different. Blokt is a leading independent cryptocurrency news outlet that maintains the highest possible professional and ethical kramer cryptocurrency difference between cryptocurrencies standards. It could also, however, add hidden risk to the market overall. Given the fact that ICOs are unregulated, this form of raising money attracts a lot of scammers. Since peaking in October, bond yields have declined sharply. And the Winner is… When measuring total returns, bitcoin and the broader cryptocurrency market have vastly outperformed the other major asset classes. Cryptocurrencies are digital tokens, usually representing a coin, used as a payment method or, frequently,…. Ethereum has emerged as an alternative to Bitcoin, but it represents a whole new concept of cryptocurrency and provides users with a lot of unique and promising features. Featured image courtesy of Shutterstock. The cons The ill fame of ICOs. The shutdown standoff in Washington DC is likely to continue into On the positive side, increased lending of crypto assets could increase nvidia geforce gt 610 zcash mining hashrate zcash token supply and, by extension, price discovery does bittrex sell nem dentacoin cryptocurrency price a greater number of transactions makes it easier for a market to express its views. Can the Rally Continue? May 25, Market OverviewStocks.
Bitcoin is the first and still the most valuable cryptocurrency that was launched to replace centralized financial systems and hand over control of money to individuals. First and foremost, Ethereum markets itself not as yet another cryptocurrency for fast cross-border transactions but as a decentralized platform or framework for developing apps. Is the proverbial winter over for Bitcoin just yet? The author owns bitcoin, Ethereum and other cryptocurrencies. The effort has lost its luster. In the absence of clear rules, it is up to the sector to keep an eye on developments in both crypto fund administration and crypto asset lending. Tronipay is the ideal solution for your business May 21, Furthermore, a growing demand for short selling, facilitated by asset lending, will to some extent enhance liquidity and help to develop a pool of natural buyers — all short sales have to be unwound eventually. Turbo VPN Review: OPEC may have achieved record compliance in curbing crude supplies, but it faces the same output trap that has dogged the market for the past five years — namely, higher prices lead to more crude production from cost-effective U. Can the Rally Continue? Chief Editor to Hacked. May 25, Market Overview , Stocks. May 21, Which Cryptocurrency Is Better for Investing? There is for now little incentive to insist on curbs on lending.
What does Ethereum have up its sleeve? But there are signs that they are coming down. Leave A Comment Cancel reply Your email address will not be published. Blokt is a leading independent cryptocurrency news outlet that maintains the highest possible professional and ethical journalistic standards. It is, after all, in its own interest to ensure a smooth and robust market. The cons However, if you look under the hood, the things are not so rosy for Bitcoin as they might seem at first. Case in point: First and foremost, Ethereum markets itself not as yet another cryptocurrency for fast cross-border transactions but as a decentralized platform or framework for developing apps. However, letting the practice spread without some guidance could escalate systemic risk. Long-term, overvaluation risks remain a significant source of worry for investors. December 20, The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in cryptoassets, with news and views on crypto infrastructure delivered every Tuesday. May 5, Sam Bourgi Market Overview. As more projects from the EEA will emerge, the status of Ethereum as the most real-world adapted platform will be maintained.
But, given the difficulty of covering bitcoin to cash localbitcoins how do you convert bitcoin to cash with declining management fees, that could make it less likely that compliant funds survive. This is also in line with the traditional sector, where fee pressure is already becoming the subject of headlines. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at hsbourgi. Tuesday, May 28, When it comes to percentage gains, Bitcoin has outperformed all other rallying major asset classes. Once they succeed, Bitcoin can go two ways — either towards prosperity or destruction. With this in mind, the team behind Ethereum has created an organization that is contributing to the growth of technology adoption among enterprises. Previous Next. Given the fact that ICOs are unregulated, this form of raising money attracts a lot of scammers. Bitcoin or Ethereum: And while the feared bond bear market of never really materialized, it was still a rocky year for U. OPEC may have achieved record compliance in curbing crude supplies, but it faces the same output bittrex dnt coinbase error 503 that has dogged the market for the past five years — namely, higher prices lead to ethereum mist browser android bitcoin wallet seed crude production from cost-effective U. May 24, A former hedge fund executive says Bitcoin is poised to outperform all other asset classes in Mary Ann Callahan. As the traditional markets saw inthe intertwined web of asset holdings through through opaque lending arrangements left institutions vulnerable and investors grasping at air. Which Cryptocurrency Is Better for Investing? Numerous websites and even land-based stores have already jumped aboard the cryptocurrency train offering customers to put their Bitcoins to use. Oil prices are subject to actual and perceived supply-demand balances.
Turbo VPN Review: It could also, however, add hidden risk to the market overall. This is also in line with the traditional sector, where fee pressure is already becoming the subject of headlines. In the absence of clear rules, it is up to the sector to keep an eye on developments in both crypto fund administration and crypto asset lending. The nature of Bitcoin is decentralized, which means that every participant is as involved in the process as any other and every protocol change needs to be agreed by the whole network. Given the growing demand for crypto lending services, this potential income stream could be enough to give a number of funds a greater chance of survival, as well as inject liquidity and diversity into the sector. In terms of percentage gains, bitcoin is by far the best-performing asset class of The cons The ill fame of Can you buy ethereum on coinbase how fast are bittrex trades. The pros Platform for decentralized how much is a bit of bitcoin brain login. We use cookies to give you the best online experience possible. The purpose of the Enterprise Ethereum Alliance is to develop blockchain solutions and industry standards for businesses to interoperate with each other in a more efficient way. Lending image via Shutterstock. These applications are powered by smart contracts and generally referred to as DApps. Contract mining services dogecoin mining profit sim 25, Market OverviewStocks. Has It Finally Reached the Bottom?
Has It Finally Reached the Bottom? Whether counterparty A used the loan to sell short or lent it on to counterparty B, it will now have to buy the asset back in the market, probably pushing up the price by doing so. Bitcoin is truly an innovative form of money and a groundbreaking network for cross-border transactions… But only when compared to fiat systems. This vulnerability has already led to thousands of dollars lost. At first blush, they seem similar, but in fact, they are fundamentally different. With respect to oil, the Organization of Petroleum Exporting Countries OPEC and its allies have managed to cooperate just enough to engineer a sizable price recovery through Obviously, if I got a reputation for doing this, no-one would borrow from me. Leave A Comment Cancel reply Your email address will not be published. The Bitcoin Rally Continues As this recent report by the Wall Street Journal points out, the year has so far been largely positive for most asset classes. Can the Rally Continue? Miners are in charge of validating transactions and releasing new Bitcoins into circulation. Ethereum Classic [ETC]: Or Bitcoin? Bond markets offered some ominous warning signs about the economy back in March when the yield curve inverted for the first time in more than a decade. Once they succeed, Bitcoin can go two ways — either towards prosperity or destruction. What do we actually know about Bitcoin?
Meanwhile, demand for crypto lending is growing at an astonishing pace, as the inflow of funds into lending startups and the demand from institutions shows. Can the Rally Continue? While there is no concrete data on the extent to which crypto funds lend out their assets, there are signs that this practice is spreading. May 24, Market Overview. But self-regulation has its own risks and is hard to execute in as opaque an activity as crypto asset lending. A wide range of use cases. Four Steps for Total Crypto Security. I recall the loan of altcoin A, and counterparty A has to scramble to get it back to me. The nature of Bitcoin is decentralized, which means that every participant is as involved in the process as any other and every protocol change needs to be agreed by the whole network. Cryptocurrencies are digital tokens, usually representing a coin, used as a payment method or, frequently,…. May 25, Market Overview , Stocks. Both Ethereum and Bitcoin have an army of admirers and opponents. This has potential implications for the entire sector, both good and bad.