Five Cryptocurrency Projects Goingnowhere
Five cryptocurrency projects goingnowhere It only takes a little bit of scrolling down a Facebook/Twitter or Reddit feed before you come across an article touting the latest hottest cryptocurrencies that you absolutely must invest in before they take off. In fact we wrote one of those articles ourselves last week. So instead we wanted to focus on cryptocurrency projects which seem to be going nowhere special. We dont want to pick obvious ponzi scams (Bitconnect), cheap forks (Bitcoin Gold) or coins with no real utility whatsoever (Dentacoin). Instead this is a list of cryptocurrency projects which in our opinion were once hailed as promising but are now ultimately doomed for failure. So if we have hurt your feelings by trashing a coin you own or believe in strongly - feel free to respond below as to why we suck or berate us on Twitter instead. Ah Tezos. They raised $232 million earlier this year in one of the biggest ICOs to date. Tezos itself has been in development since 2014, and is the work of a couple called Arthur and Kathleen Breitman. For those that have no idea what Tezos is about it is supposedly a competitor to Ethereum with a few major differences: Tezos has a process for upgrading the protocol to prevent hard forks. Developers submit proposals and token holders can vote on which ones they prefer. Ethereum is planning to switch from Proof of Work to Proof of Stake. Tezos already uses a Delegated Proof of Stake consensus method. The smart contract language in Tezos is functional and whilst that doesnt guarantee bug free code, it does provide better mathematical proof of the properties of the contract . Platforms like Neo, Cardano and Eos have seen incredible gains recently as either new ICOs are launched or investors speculate as the projects come closer to Continue reading >>
What Is Bitcoin? What You Need To Know About Cryptocurrency
If you own bitcoin or other cryptocurrencies, it might be a bad day for you. The price of bitcoin plunged by 15 percent this morning , dropping below $12,000 for the first time since Dec. 4. Other cryptocurrencies have also seen price declines, with Ethereum falling by 20 percent and Ripple falling by 33 percent. The plunging prices are a stark difference to the success bitcoin saw last month hitting a record of nearly $20,000 on Dec. 16. Currency of the future? Some argue its bitcoin As the digital currency Bitcoin surges in popularity, curious investors and entrepreneurs alike are watching closely to see what happens with the fluctuating prices. Dont understand the basics of bitcoin? Heres what you need to know: 3 Kettering's Tenneco to invest $61 million in plant, add 300 jobs Bitcoin is a cryptocurrency, or a digital token, that can be sent electronically and directly from peer to peer. There is no physical backing and it is a decentralized currency meaning it is not controlled by any government or banking entity. Bitcoin is the first cryptocurrency ever created, and remains the most popular one to date. I tell people its a digital currency and its a program, said Jad Mubaslat, Wright State University graduate student and founder of BitQuick.co, a bitcoin trading platform. For the first time in history, it allows anyone anywhere in the world to send any amount of money instantly. Most importantly, it;s without a third party like a bank or a government. Now, you can truly send your money without somebody telling you what you can or cannot do. The record of all bitcoin exchanges and transactions are record on what is called the blockchain, which is a network of decentralized computers. Bitcoin was created by an unknown programmer going by the name Satoshi Nakamoto in Continue reading >>
How The Cryptocurrency Market Will Recover
Every product here is independently selected by Mashable journalists. If you buy something featured, we may earn an affiliate commission which helps support our work. In the past month or so, bears have ruled the cryptocurrency market. You may not think that's a very long time, but given how fast the cryptocoin market moves, this is not some temporary flash crash. It's a hefty correction that threatens to turn into a bear market, akin to Bitcoin's slump in Jan. 2014, when price went down for about a year before they started rising again. SEE ALSO: Say hello to Buttcoin and the community celebrating Bitcoin's fall At roughly 137 billion dollars, Bitcoin is still the largest cryptocurrency by market cap, and it's still leading the market; when Bitcoin experiences a big drop, other coins follow. But why is the price of Bitcoin going down? Well, the factors are numerous, and they start with tremendous growth Bitcoin has experienced in the last year or so. Even at current price of $8,400, it's still up roughly 850 percent year-over-year. If you're an early investor, there's still a lot of room there for profit taking. Typically, an asset's price won't drop far below the market's assessment of a fair price or at least it won't stay there too long. Apple stock might fall on news about bad iPhone sales, but if the company's revenue is up exactly what happened last week you won't see a huge selloff. The total market cap of all cryptocurrencies has dwindled significantly since its peak in early January. But if you're trying to determine a fair price for Bitcoin, you'll likely hit a wall. Bitcoin's fundamentals are notoriously hard to define . Large developmental changes are either absent or far off at this point. Retailers are shunning Bitcoin as of late, and most people that bu Continue reading >>
China Regulates Cryptocurrency Trading Apps | Pymnts.com
China steps up its regulation of cryptocurrency trading by going after online platforms and mobile apps. Citing people familiar with the matter, Bloomberg reported Chinas regulators are eyeing internet-based platforms and mobile apps that provide customers with exchange-type services. Last year, Chinese authorities banned trading in cryptocurrencies, but recently the country has been seeking out alternative cryptocurrency trading venues. Chinese regulators want to block people in the country from accessing offshore and homegrown platforms that enable cryptocurrency trading. The sources couldnt provide more details about the types of policies China will implement. The government is also going after companies and individuals who enable cryptocurrency trading by providing services such as market making, settlement and clearing. Small peer-to-peer (P2P) trades arent on the radar of the Chinese government . News of the countrys escalated actions sent the price of bitcoin lower in trading. According to Bloomberg, the cryptocurrency was recently down 1.2 percent in London to $13,580.50. Since last year, China has been clamping down on bitcoin trading , banning exchanges and initial coin offerings (ICOs). Last week, it went after the countrys massive bitcoin mining industry. On orders of a multi-agency task force, regional authorities have been instructed to actively guide firms currently mining bitcoin in their region away from the activity, according to documents reviewed by The Financial Times. The newly minted push to tamp down on mining issues from the fact that the complex computational task required to mine bitcoin uses a massive amount of power. As of 2017, electricity demand for bitcoin mining rose to about 20.5 terawatt hours a year, according to BNEF. That equates t Continue reading >>
Major Cryptocurrency Exchange Kraken Is Still Offline, Two Days After Going Down And Users Are Worried
Latest article by Henry Joseph-Grant, to see more click here Kraken, one of the worlds largest cryptocurrency exchanges has been down for two days and its users are worried. @krakensupport I understand everyone's frustration as I am getting very frustrated myself. I have always trusted my funds on Kraken (although now I am getting nervous lol) But the fact that I can't trade on my main trading account is hurting me during this price action! Mathew Stover (@stoves_17) January 13, 2018 The San Francisco-based companys went offline at 9am PST on Wednesday for maintenance that was initially scheduled to last two hours, plus an additional two to three hours for withdrawals. They made the following announcement. We are still working to resolve the issues that we have identified and our team is working around the clock to ensure a smooth upgrade, according to a status update on Krakens website posted seven hours ago. This means it may still take several hours before we can relaunch the site. Two days later and they have just released the following maintenance update @krakenfx just released a new update on the maintenance. Are you a #Kraken user? Are you worried? pic.twitter.com/47Ev9gnWLZ Henry Joseph-Grant (@speirin) January 13, 2018 and users have received the following email from Kraken support Nicolas Dimanow ???? (@conidim) January 13, 2018 Time will tell if Krakens delay in going back online are simply understandable growing pains experienced by its peers and fellow popular websites such as Coinbase who have frequently crashed or slowed down in the past few months as theyve been unable to handle the increased traffic coming from the growing number of investors trying to cash in on the crypto boom. The developer community have voiced they think this is the case. What hap Continue reading >>
Why Is Bitcoins Price Down To Two-month Lows?
Crypto investors are seeing red this week. Bitcoin plunged to two-month lows on Thursday, dipping below $9,000 for the first time since November. At the time of writing, Bitcoin had bounced back up to the $9,200 level, down from weekly highs just above $12,000. This week has seen coins across the board in the red a sign that investors are jumping ship to fiat currencies this time instead of swapping into altcoins as weve seen in the recent past. At the time of writing, the total cryptocurrency market cap weighed in at$459 billion, down from January highs around $830 billion. Its acontraction to be sure, but not a low for the last 30 days (that low came on January 18 ). Is this the bitter end for Bitcoin? For cryptos? Well, no, probably not. Get your head screwed on right and youll see that (for better or worse) many coins have seen unprecedented growth in the last six months to a year, even with Bitcoins price halved from holiday highs closer to $20,000. On this day last year, Bitcoin was sitting pretty at $982. At the height of Decembers craze, most reasonable crypto-watchers could agree that the price was overheated and there was only one way for it to go in the short term. Still, in the thick of the current correction, Bitcoins longer-term growth is anyones guess. Cryptocurrency die-hards expecting the price to bounce back, even partially, will see these tanking numbers as the perfect entry point for getting in low and maximizing gains. Late speculators who got in during the mass crypto hysteria of the holiday season arent likely to have such steady hands, a factor thats likely contributing to the slide. So whats causing the slide to begin with? As usual, no one thing can be blamed for Bitcoins current downturn, but recent skittishness around a subpoena for Bitfinex Continue reading >>
How Does Cryptocurrency Work?
Cryptocurrency Basics How Does Cryptocurrency Work? Do you like our content? Or, do you want to test out a new wallet? Feel free to send some coins to one of our wallets public addresses. All donated funds will go toward improving the site. The content of this website is provided for informational purposes only and cant be used as investment advice, legal advice, tax advice, medical advice, advice on operating heavy machinery, etc. Our site is not officially associated with any brand or government entity. Any mention of a brand or other trademarked entity is for the purposes of education, entertainment, or parody. Neither CryptocurrencyFacts.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from CryptocurrencyFacts.com. In other words, this is a website on the internet offering free information about cryptocurrency, this is not your accountant, lawyer, or fiduciary offering you professional tax, legal, or investment advice. See our about page for more disclaimers and information. Cryptocurrency is an encrypted decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining. Below, we take a simplified look at how cryptocurrencies like bitcoin work. First, lets review the basics and essentialsof cryptocurrency, and then we will do an overview of theother properties that have made cryptocurrency what it is today. TIP: If the page below feels overwhelming, check out: how does cryptocurrency work (for beginners) . Meanwhile, if you are mainly interested in trading, investing in, or using cryptocurrency, check out how to trade cryptocurrency (for beginners) . This page provides an overview of the mechanics Continue reading >>
Bitcoin Is Bonkers Right Now. Here's Why You Shouldn't Count It Out.
Bitcoin is bonkers right now. Here's why you shouldn't count it out. Better security and smart regulation is a good start. By Rob Verger posted Feb 6th, 2018 at 6:08pm Bitcoins price is a moving target. In the short term, the cryptocurrency is plunging in value: from north of $17,000 a month ago, it crashed down to around $7,500 today. The fluctuations are enough to make anyone wonder: Whats going on? In the simplest sense, Bitcoins price is determined through a process of price discovery on exchanges , like GDAX, where it and other cryptocurrencies are bought and sold. But the bigger picture is more complex. Many factors, like regulation, possible regulation, or comments from a government official can affect whether people want to buy in on the crypto game. And that affects the price. One thing is clear, though. Its been a wild ride, says Christian Catalini, an assistant professor at MIT Sloan School of Management who focuses on cryptocurrencies. After all, this time last year, the price of Bitcoin was around $1,000. It eventually shot up to over $19,000 before dropping down to its current value. What fueled that giant spike? Its not clear how much of that was enthusiasm, hype, maybe even market manipulation, says Catalini. By market manipulation, Catalini was referring to doubts surrounding a cryptocurrency called Tether , which is ostensibly pegged to the U.S. dollar, and a related exchange, Bitfinex; both Tether and Bitfinex have been subpoened by the CFTC, or Commodity Futures Trading Commission, Bloomberg reported . The key question at hand with Tether is this: does it actually back each Tether token with a U.S. dollar, as it says it does? But Tether isnt the only issue. What follows isnt a comprehensive list, but instead a look at some events that have transpire Continue reading >>
Bitcoin And Altcoin Prices Cryptocurrency Market Tradingview
A cryptocurrency is a fully decentralized, secure, digital currency whose creation is controlled by cryptography. Cryptocurrencies are not issued by central banks and their value does not depend on bank policies. Unlike regular currencies where new money can be introduced in the money supply through Quantitative Easing (QE), cryptocurrency prices are purely based on supply and demand. Bitcoin, created in 2009, was the first cryptocurrency. There currently are over 800 alternative cryptocurrencies, called Altcoins, such as Ethereum, Ripple and Litecoin. Bitcoin and popular altcoins can be found on TradingView, through the free, real-time data of 25 exchanges . Cryptocurrencies are somewhat similar to precious metals, in that their creation is controlled and most have a cap on the amount of units, just like precious metals, which have limited minable amounts. One of our most popular chats is the Cryptocurrencies chat where traders talk in real-time about where the Cryptocurrency market is going. Continue reading >>
Cryptocurrency Advertising Goes Big In Japan, But The Pushback Has Begun
Cryptocurrency advertising goes big in Japan, but the pushback has begun If a massive billboard by Shibuya crossing is a barometer of trends in Japan, then the latest ad for the cryptocurrency exchange DMM Bitcoin, featuring a Japanese celebrity coated in gold, may be a sign of how cryptocurrencies have taken center stage in both the advertising media and the broader national conversation in Japan. When I was in London I would see ads all over Facebook, but never on TV or in the streets like this, said a 20-year-old British tourist as he stood under the billboard last week. While consumers have been inundated with such advertisements over the past few months, the exchanges are now facing more pushback on how they promote trading services of ultravolatile virtual currencies. Facebook recently banned cryptocurrency-related ads and one Japanese industry group has suggested self-regulation in light of the Coincheck Inc. hacking incident. Japanese exchanges are the most active in the world. Not only is this the result of tight regulations in China and South Korea, it is also because you can use leverage to make investments, said Kenji Harashima, a senior researcher specializing in financial technologies for the Mizuho Research Institute. In 2017, with increasing cryptocurrency asset prices, more people gained an interest in buying, and exchanges began a stronger push in the Japanese media market, he added. DMM, bitFlyer and Coincheckthe exchange that lost 58 billion worth of NEM coins have all advertised on web platforms such as YouTube, Facebook and Instagram. These same exchanges have also aired TV commercials. According to CM Soken Consulting, a commercial researcher operated by Tokyo Kikaku Co., the presence of TV commercials by cryptocurrency exchanges has significantl Continue reading >>
Blockchain Expert: Bitcoin Day Traders Going To 'get Slaughtered'
Cryptocurrency Crash: Why Ripple Is Falling More Than Most | Money
Ripples dramatic price decline a staggering 46% over a six-day time period offers a stark reminder to investors and speculators: Not all cryptocurrencies are the same. The stratospheric rise of bitcoin over the past year has brought along a number of so-called alt-coins. Many of these alternative cryptocurrencies claim to offer investors more advanced technology than bitcoins blockchain and have benefitted from the cryptocurrency craze bitcoin created. But amid the broad cryptocurrency selloff in recent days, Ripples fall has been the most dramatic, more than doubling the losses of bitcoin. Ripples token XRP, which had been trading at around $3 at the start of this year, now sits below $1.70, according to the exchange bitstamp.net . There is limited upside in Ripple, argued Alexander Kravets, a former Wall Street trader and creator of Xtrade.io, a cryptocurrency trading platform. Its very overpriced and the smart money has sold at $3. To understand why Ripple has fallen so much, you have to understand how it differs from bitcoin and other alt-coins. Unlike most cryptocurrencies, which play up their decentralized structure, Ripples founders decided to go the other way. They have created a currency thats highly centralized, which means that the company not individual investors controls how much supply of XRP leaks out. In fact, some argue that Ripple isnt even a cryptocurrency because transactions are processed in a centralized fashion and no new XRP can be mined by investors, as is the case with Bitcoin and Ethereum . Well, it seems as if others have grown weary of that centralization, the absurdity of which peaked last week when Ripple co-founder Chris Larsen reportedly saw his net worth climb to $59 billion . Based on XRPs rise, he had a higher net worth than Facebook Continue reading >>
What To Expect From Cryptocurrency In 2018
What to Expect from Cryptocurrency in 2018 You've heard of Bitcoinand possibly some others, butthe major competitors, including central banks,have not even entered the market yet By Campbell R. Harvey on January 12, 2018 Bitcoin sign in a shop window. Credit: Siegfried Layda Getty Images Will it make any sense for people to exchange paper currency in the future? I dont think so. Paper notes and coins will be valued only by collectors and numismatists. Already, a remarkable $9 trillion a year is transacted with mobile payments in China (the United States is about $1 trillion). Currently, cash accounts for merely 2 percent of the value of all transactions in Sweden . The future is not hard to forecast it isalreadyin our faces . We have seen a surge in alternative payment mechanismssuch asVenmoandApple Pay. I am much more comfortable usingApple Pay than my credit card. However, many of these fintech innovations are fleeting. They use the traditional banking backbone of transactions. The retailer has to pay 3 percent, which is an enormous cost per transaction. Apple Pay charges retailers 3 percent as well. Such fees are not sustainable, as there is already a technology that will drive the transactions costs lower: cryptocurrency. With all of the swirling news about bitcoin and other cryptocurrencies, people are incorrectly focusing on the so-called store of value. Bitcoin prices skyrocketed in 2017rising more than 1,500 percent. Manyspeculative investors jumped onto the bandwagon. These investors buy as prices go up. They dont want to miss out. They dont care about the scientific foundations of the underlying assetthey are in for the ride. It is a classic bubble mentality. But when the bubble bursts,itdoes not mean cryptocurrencies go to zero. Consider the tech bubble in t Continue reading >>
Beijing Bans Bitcoin, But When Did It All Go Wrong For Cryptocurrencies In China?
Beijing bans bitcoin, but when did it all go wrong for cryptocurrencies in China? Beijing bans bitcoin, but when did it all go wrong for cryptocurrencies in China? PUBLISHED : Monday, 05 February, 2018, 8:25pm UPDATED : Tuesday, 06 February, 2018, 10:34pm Bitcoin mania puts cryptos in sight of world finance chiefs With the announcement that it plans to block all websites related to cryptocurrency trading and initial coin offerings including foreign platforms Beijing has left no one in any doubt of its position on the highly volatile commodity. But its views on the currency, or asset class depending on your point of view has not always been so fervent, as this timeline shows: China to stamp out cryptocurrency trading completely with ban on foreign platforms Bitcoin is barely on the radar of financial regulators as China adopts a relatively hands off approach to the cryptocurrency. The Peoples Bank of China (PBOC) and four other financial regulators issue a joint notice outlining the risks associated with bitcoin. Beijing states that it is not a currency, and prohibits banks and other financial institutes from trading in it. At the same time, the government acknowledges the cryptocurrency as a commodity traded online and allows the public to buy and sell it as they please, with its only proviso being that they do so at their own risk. Central bank governor Zhou Xiaochuan describes bitcoin as an asset class like rare stamps and says the government is not even considering banning it. The PBOC says it plans to issue a sovereign digital currency that could help to reduce the cost of circulating banknotes, promote economic activity and aid the fight against money-laundering. The Chinese bitcoin mining machine sellers immune to the cryptocurrency crackdown After conducting inv Continue reading >>
Bitcoin Price - Latest Updates: Cryptocurrency Surges Towards $10,000
Bitcoin price - latest updates: Cryptocurrency surges towards $10,000 The value of the digital currency has shifted wildly over recent weeks. This article is being regularly updated with the latest changes The value of bitcoin has seen significant gains over the last week, following a period of relative stability hoveringabove $9,000. If it continues its good form, it could break above $10,000 in the coming days. The volatile cryptocurrencys price has shiftedwildly eversince mid-December - whenit hit a record high of more than $19,850 (14,214)- with frequent heavy drops and speedy recoveries. Its priceplummet back to earth in January and February, as governments and central banks around the worldraised the spectre of future regulation. Bitcoins value plummeted again shortly before Christmas, dropping by almost $2,000 (1,449) in just an hour at one point, and almost slipping below the $11,000 mark (7,970). It then bounced back, before tumbling again in mid-January, recovering again, and plummeting at the start of February before levelling out for the rest of the month. March saw bitcoin's price drop below $10,000, reachinga low of $6,500 before rebounding above $7,000. Aside from the looming prospect of regulation, aseries of high-profile thefts have also had a hand in the sudden rapid dips in value bitcoin and its rivals have experienced - the most recent of which was a failed raid on the Binancecryptocurrency exchange . Google's announcement that it would ban cryptocurrency advertising from its pages from June on the grounds that it considers it "deceptive content" was also a major blow to the sector. Recent goings-on have demonstrated just how quickly things can change for investors. It is worth $9,675as of Fridaymorning, up from around $6,500 in early April, accordi Continue reading >>