digital currency Tag

Posted On October 26, 2017By BlackbeardIn Articles

Venezuelans turn to Bitcoin to escape currency crisis

By now, most Americans are familiar with the economic basket case that is Venezuela. The country’s economy has collapsed, leaving the population desperate and starving. The human cost is highly visible and tragic, but what gets less attention is the way in which the government has destroyed the country’s currency, thereby making it impossible for citizens to buy basic necessities. It’s a common story in socialist countries. Unable to sustain massive levels of government spending, the state prints more and more money, trading short-term gains for massive inflation. It’s oneRead More
This is akin to a family of five selling their home, cars, and personal belongings, in order to finance Dad heading off to Vegas in order to play the fucking slot machines. What can go wrong, after all? Bitcoins only go higher. Source: CNBC Didi Taihuttu, his wife, three kids and their cat bet all they have on bitcoin. The Dutch family of five is in the process of selling pretty much everything they own — from their 2,500-square-foot house, to their shoes – and trading it in for theRead More
The world’s central banks can’t sit back and ignore the growth in cryptocurrencies as it could pose a risk to the stability of the financial system, according to the Bank for International Settlements. It said central banks will need to figure out whether to issue a digital currency and what its attributes should be, though the decision is most pressing in countries like Sweden where cash use is dwindling. Institutions need to take into account of not only privacy issues and efficiency gains in payment systems, but also economic, financialRead More
Even with all the hand-wringing about bubbles in stock and bond markets, it’s hard to ignore what’s going on in the world of cryptocurrencies and bitcoin. The value of the largest digital currency continues to soar to record highs after weathering a split last week. It has increased more than threefold this year, compared with a doubling in the value of Vertex Pharmaceuticals, the best performer in the S&P 500 Index. At the record price of $3,486.73 reached Tuesday, one bitcoin could probably fund a nice vacation. By comparison, one share ofRead More
Ronnie Moas, who for the past 13 years has made more than 900 stock recommendations via his one-man show at Standpoint Research, is now venturing into cryptocurrencies. Bitcoin will double to $5,000 next year, and reach $25,000 to $50,000 in the next decade, the Miami Beach, Florida-based Moas said in a note to clients Wednesday, where he also disclosed he bought “a little bit” of litecoin, bitcoin and ethereum in a Coinbase.com account. It’s a testament to the exuberance around bitcoin, ethereum and other blockchain assets that equity investors whoRead More
Bill Gates’s net worth still beats bitcoin’s entire market cap. Not all money is created equal. Bitcoin burst into our financial consciousness like a fiery comet, setting the internet ablaze with visions of upending the existing global money system. Yet, by its nature as a cybercurrency, whose legitimacy only exists in the ether, its credibility leaves much room for debate. HowMuch.net on Wednesday put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to go to be evenRead More
While Bitcoin, and recent Chinese and Korean momentum favorite, Litecoin, have been relatively stable for much of the day, Ethereum suffered dramatic losses on Wednesday, sliding from $360 to $260 before rebounding, in the process experiencing what may have been its first flash crash, when it plunged by 96% from $315 to $13 on massive volume, before rebounding. As tends to happen without fail during volatile crypto-periods, the crash almost immediately took the Coinbase offline. Over the past 24 hours, there were several warnings about “unstable operation” in the Ethereum Network,Read More

Posted On June 15, 2017By HoudiniIn Articles

Getting High on Cryptocurrencies

There are now four times as many cryptocurrencies in circulation as fiat currencies. That’s amazing. And encouraging. According to the Swiss Association for Standardization, which maintains the International Standards Organization database, there are 177 national currencies currently in use. That list generously includes four precious-metals and four bond-market units (codes XBA to XBD, for the curious). NUMBER OF DIGITAL CURRENCIES 753 The CoinMarketCap website lists 753 cryptocurrencies, all the way from Bitcoin and Ethereum down to StrongHands and Paccoin (current value: $0.00000014). With a retired basketball star promoting one such incarnation — tied toRead More
Two weeks ago, in our latest comparison of Bitcoin and its up and coming competitor, Ethereum, we said “step aside bitcoin, there is a new blockchain kid in town.” Actually, we said that for the first time back in February when Ethereum was still trading in the low teens (the return on ETH since then is roughly 3000%), but the most recent glance provided some perspective on where the competition between the two largest cryptocurrencies may culminate, because according to at least two venture capitalists, the market cap of Ethereum – currently roughly $35Read More
NEW YORK (May 30): Bitcoin’s astronomical rally has cryptocurrency bulls feeling vindicated. Not so fast, skeptics say. The digital currency’s more than 100% surge in the past two months looks eerily familiar, argue the bears, pointing to November 2013, when the price quintupled in short order to top US$1,000 for the fist time. By Valentine’s Day it was worth around half that, and spent the better part of the next two years languishing below US$500. Then it absolutely exploded — jumping more than US$1,400 in two months. At its heightRead More