digital currencies Tag

SHANGHAI (July 7) Virtual currencies like bitcoin are assets but bitcoin in itself does not have the fundamental attributes needed to be a currency that could meet modern economic development needs, a Chinese central bank adviser said. Sheng Songcheng, adviser to the People’s Bank of China (PBOC), made the comments in an interview with financial magazine Yicai published late Thursday. “Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms…But I do not deny that virtual currenciesRead More
Mining references generally evoke images of picks and shovels. For advocates of bitcoin and the other cryptocurrencies surging in value, the gold may be in the shares of the companies that produce the computer processors and chips used to create the digital currencies in the process that’s become known as mining. Digital coins can only be created by using computers to solve complex mathematical problems. The difficulty increases as more of the problems get solved, prompting the miners to require even more powerful hardware. With digital coin prices soaring, demand forRead More
Step aside, bitcoin. There’s another digital token in town that’s winning over the hearts and wallets of cryptocurrency enthusiasts across the globe. The value of ether, the digital currency linked to the ethereum blockchain, could surpass that of bitcoin by the end of 2018, according to Olaf Carlson-Wee, chief executive officer of cryptocurrency hedge fund Polychain Capital. “What we’ve seen in ethereum is a much richer, organic developer ecosystem develop very, very quickly, which is what has driven ethereum’s price growth, which has actually been much more aggressive than bitcoin,”Read More
SAN FRANCISCO (May 17): A computer virus that exploits the same vulnerability as the global “ransomware” attack has latched on to more than 200,000 computers and begun manufacturing digital currency, experts said Tuesday. The development adds to the dangers exposed by the WannaCry ransomware and provides another piece of evidence that a North Korea-linked hacking group may be behind the attacks. WannaCry, developed in part with hacking techniques that were either stolen or leaked from the U.S. National Security Agency, has infected more than 300,000 computers since Friday, locking upRead More