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Ethereum Collapse

Ethereum Co-founder Predicts Crypto Crash, Then Consolidation

Ethereum Co-founder Predicts Crypto Crash, Then Consolidation

Ethereum co-founder predicts crypto crash, then consolidation The cryptocurrency market will strengthen but it will only happen after bitcoin alternatives that lack essence exit the scene, according toCharles Hoskinson, a co-founder of Ethereum. My personal opinion is that were going to see a consolidation after a crash, Hoskinson told CNBC, voicing concern aboutunrealistic cryptocurrency projects entering the space. Whats going to occur is a lot of these ventures that dont have strong fundamentals, dont have good tech, or just unrealistic projects, they will eventually run into some major wall they cant quite overcome. They will fracture up and you will see a lot of them are certain to fail, he said. In an interview,Hoskinson, a former Ethereum CEOwho now runs a now runs a blockchain research firm, however added that many of the new cryptocurrency projects might not fail any time soon as they have enough funding behind them to sustain themselves. The problem is a lot of them have a lot of money, Hoskinson said, according to a report carried by CNBC on its website. Its really hard to fail when your burn rate is 5 million or 10 million dollars a year, and you have one billion of capital. The comments came as anumber of alternative cryptocurrencies rallied substantially in recent weeks as investors looked beyond the most prominent unit the bitcoin. Bitcoin was looking weak at the beginning of 2018, with the unit getting overshadowed by altcoins such as Ripple. Lots of lesser-known crypto-tokens, such as dogecoin, have surged substantially, while a growing list of businesses is trying to get on board of the crypto craze by adding blockchain to their name and announcing initial coin offering (ICO) plans. Hoskinson warned of risks arising from unrealistic cryptocurrency pro Continue reading >>

Why The Ethereum Dao Collapse Is Good For The Cryptocurrency

Why The Ethereum Dao Collapse Is Good For The Cryptocurrency

Why the Ethereum DAO collapse is good for the cryptocurrency The news of the Ethereum DAO hacker attack is riding high and of course it brings lots of damages for the ethereum investors who stored about $150m of the cryptocurrency. However, it is always a good behavior to understand and see the other side of the coin, we would say. In fact, any negative event can allow to have a better environment and more secure technologies. A similar thing happened with the Mt Gox disaster, when we learned that an exchange must be built with more care and attention. As Matthew Spoke, co-founder and CEO of blockchain startup Nuco, explained on Coindesk . the DAO attack will likely be reversed, as per Vitaliks proposal; owners of TDT will be able to retrieve their ETH after the proposed hard fork; The DAO will be emptied of its investments; and future distributed autonomous organizations will learn from the lessons. On June 17th, an unknown hacker (or a group of hackers) stole $60m in Ethereum coins from the DAO, a decentralized autonomous organization that used the Ethereum Blockchain to leverage smart contracts and to provide a platform where people can vote and fund projects. Previously last week the DAO experienced another issue but it was fixed soon by the open-source community and the Etheruem DAO structure and problem-solving techniques. If you want to have a safe and secure wallet to store your Ethereum, you should visit HolyTransaction. Here you can store your Ethereum, but also several other digital currencies including Bitcoin, Litecoin, Dogecoin and more. Open your free digital wallet here to store your cryptocurrencies in a safe place. Continue reading >>

Bitcoin, Ethereum, Ripple Prices Fall, $120 Bn Wiped Off Crypto Market - Business Insider

Bitcoin, Ethereum, Ripple Prices Fall, $120 Bn Wiped Off Crypto Market - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Business Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our Cryptocurrencies swing wildly on Friday, with bitcoin falling as low as $7,700 per coin before rebounding sharply. Ethereum, Litecoin, bitcoin cash, and Ripple all followed a similar pattern. Concerns over regulation, an advertising ban from Facebook, and investigations into the cryptocurrency tether have all hurt sentiment during European trading. UPDATE: Bitcoin is back below $8,000 per coin on the morning of Monday February 5. Click here for the full story. LONDON Cryptocurrency markets are swung wildly on Friday, after a major early morning crash gave way to an afternoon rebound. During European morning trade on Friday, the price of virtually every major cryptocurrency dropped more than 15% as investors remained spooked following bitcoin's fall below the key $9,000 support level on Thursday. "The wheels are coming off the bitcoin bandwagon," Neil Wilson, a senior market analyst with ETX Capital, said in an email this morning. "The regulatory crunch appears closer than ever and sooner or later this market could be headed back down to earth. Selling pressure at the moment is intense as there has been nothing but bad news for bitcoin bulls of late." Bitcoin crashed as low as $7,700 during the collapse, losing roughly 15% of its value at one point. Other major cryptos fell even further, with Ethereum down as much as 23% at one point. By the European afternoon, however, prices have bounced back sharply, and by 4.50 p.m. GMT (11.45 a.m. ET) bitcoin was actually in positive territory on the day, trading at $9,130. Although there was no immediately obvious catalyst for the rebound, it coincid Continue reading >>

Bitcoin, Ethereum And Almost Every Other Cryptocurrency Is Plunging

Bitcoin, Ethereum And Almost Every Other Cryptocurrency Is Plunging

Look away now if you own bitcoin or other cryptocurrencies. This wont be breaking news to you if you are invested, but today has seen the entire crypto market fall by double-digit percentages. The price of bitcoin slumped by 15 percent to drop below $12,000 for the first time since December 4. Ethereum, meanwhile, fell by over 20 percent to hover above $1,000 and Ripple is down 33 percent to $1.23 at the time of writing. The price drop is having a huge impact. According to Coinmarketcap.com , a site that is quickly becoming the go-to price checker, just one of the top 100 highest valued cryptocurrencies isnt in the red over the past 24 hours. Thats Tether. Its a far cry from when bitcoin hit a record of close to $20,000 exactly a month ago on December 16. Despite the drop, Ethereum, Ripple and the rest of the alt coins have largely fared worse than bitcoin. Finally, a little green ink at number 25 Like all things crypto price related, it isnt clear what is driving the changes. A Bloomberg report yesterday suggested that China is preparing to block domestic internet users accessing international bitcoin exchanges. The country banned Chinese exchanges and ICOs last year. Last week, it emerged that the central government is working to drive out Chinas bitcoin miners, who are thought to account for the majority on the planet. Many of the bigger names are already expanding overseas in preparation but the news jolted the market. Theres also been plenty of speculation around Koreas plans to regulate crypto, although the government has since clarified it doesnt plan an all-out ban on bitcoin and crypto trading. Crypto being crypto, there are some alternative theories, too. Weve been here before, of course the headline to this story may seem familiar. The crypto market suffered Continue reading >>

Bitcoin And Other Popular Cryptocurrencies Are Crashing Yet Again

Bitcoin And Other Popular Cryptocurrencies Are Crashing Yet Again

Ripples is the most significant drop, with the coin having lost more than 17% of its value compared to Sundays prices Ripple has been sliding for a couple of days now. Why are prices dropping again? Theres no good answer right now. Fears persist that more regulation is looming, and some investors may be worried about losing the fortunes theyve already invested in Bitcoin and other coins. Reports last week that South Korea and China are looking to regulate the crypto exchange business led to the price crash we talked about a few days ago. Right now, no real bad news can explain the new dips. Peter Boockvar, Chief Investment Officer at Bleakley Advisory Group, told CNBC the other day that Bitcoin might drop to as low as $1,000 this year. He added that the stock market could see some collateral damage, but it would be all psychological, not a sign theres something wrong with the economy. In a different CNBC report, Robert Shiller, Nobel-prize winning economist, told the network that Bitcoin will likely totally collapse, just like the tulip mania that captured the Netherlands centuries ago. He also agreed that Bitcoin might still be here in 100 years, though. Are there reasons to worry? Well, The Sun says that panicky Bitcoin investors struggle to withdraw their cash from money exchanges, as they fear virtual currencies will continue to collapse. And theyre now turning to other investments. European gold traders report a five-fold increase in demand amid fears that Bitcoin could crash, for example. Continue reading >>

Bitcoin Prices Crash Below $7,200 As Ethereum Drops Into The Red | Fortune

Bitcoin Prices Crash Below $7,200 As Ethereum Drops Into The Red | Fortune

Its been a nerve-wracking past few days for cryptocurrency investors. Bitcoin prices fell about 14% to $7,200 on Monday as major banks including Bank of America, J.P. Morgan, Citigroup, Capital One, Discover, and Lloyds say they have or plan to ban customers from using their credit cards to buy cryptocurrencies like Bitcoin. Adding to the slide: China said it would block websites offering cryptocurrency trading services and initial coin offerings using the Great Fire Wall . That comes after China banned cryptocurrency exchanges in 2017 . In the past week, Bitcoin investors have shed roughly $67 billion in value. The total value of Bitcoin in circulation is now around $125.8 billion as some investors worry about the digital coins long-term viability without the tacit support of major financial institutions. Its an even darker day for investors who may have bought into the asset at its peak of over $19,500 in December. Since then, the value of their stake has fallen 63%. Fellow cryptocurrency Ethereum, meanwhile, is also now in the red for the year. Once considered the only cryptocurrency of threeBitcoin, Ethereum, and Ripple as ranked by market capto have made gains in 2018, Ethereum shed some 15% in the past day and now rests at $748. Ethereum is down roughly 1% year-to-date. Ripple is down 67% in the same period to 73 cents, while Bitcoin is down 48%. Investors also have continuing concerns about whether Bitcoin prices may be inflated due to a fellow cryptocurrency known as Tether. Continue reading >>

Harvard Professors Predict Bitcoin Collapse Due To Government Regulation

Harvard Professors Predict Bitcoin Collapse Due To Government Regulation

Harvard Professors Predict Bitcoin Collapse Due to Government Regulation Harvard econ professors see a future collapse for Bitcoin due to government regulation. According to some Harvard economics professors , Bitcoin will eventually be destroyed through the weight of government regulation. Professor Kenneth S. Rogoff believes that the risk of financial anonymity will eventually create an environment where regulation would crush Bitcoin. He said: Small anonymous transactions with virtual currencieswould be desirable but large-scale anonymous payments would make it extremely difficult to collect taxes or counter criminal activity. The perspective is shared, though in a different vein, by the counterpart, Jeffrey A. Miron, whose Libertarian perspective makes him more lassez-faire. Nevertheless, he believes that central governments will eventually drive the technology out of existence. He said: It [government] could let cryptocurrencies peacefully exist, and not accept them as a means of payment, and thats what I think it should do. But my guess is that sooner or later governments are going to regulate cryptocurrencies out of existence. The potential for government regulation is certainly real, as multiple nations have limited access to or exchange of Bitcoin and other cryptocurrencies. China famously banned ICOs (initial coin offerings) and has restricted Bitcoin exchange access. It should also, of course, be remembered that Bitcoin is by no means anonymous. Users routinely make mistakes which weaken or eliminate Bitcoins psuedo-anonymity. As Cointelegraph has previously reported, the IRS has engaged the services of Blockchain analysis firm Chainalysis to help them tax cheats who dont report their Bitcoin profits. Continue reading >>

I Just Lost $3,000 Investing In Ripple (and Tron), And It's A Dangerous Feeling

I Just Lost $3,000 Investing In Ripple (and Tron), And It's A Dangerous Feeling

I Just Lost $3,000 Investing In Ripple (And Tron), And It's A Dangerous Feeling I write about video games and technology. Opinions expressed by Forbes Contributors are their own. It turns out I didn't have $3,000 after all. There was a moment, the other week when it felt like I did, and I wrote about it here . I had made the plunge into cryptocurrency after much hemming, a deal of hawing and a couple of agonizing days watching the price fluctuate as Coinbase chugged my USD into ETH. My first bet on Ripple (XRP) paid off handsomely, though not so handsomely as it would have had I been able to buy it when I wanted to. A subsequent bet on Tron (TRX), worked out even better, and for a moment it even seemed like I had been able to staunch the bleed off of a Ripple peak by moving those coins into Tron -- a successful trade from the successful investor, clearly. You can see where this is going. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Prices collapsed, both across the board but moreso for my coins in particular. The Coinbase coins -- Bitcoin, Ethereum, BitcoinCash and Litecoin -- haven't been hit as hard as the smaller coins, and Ethereum, in particular, is still up overall. But the altcoins are getting hammered, and where there once was money now there is not. Perhaps there never was. The reasons are various: South Korea is considering getting aggressive about regulating cryptocurrencies, and the entire market is suffering as a result. South Korean traders, for a time, seemed to be responsible for the atmospheric rise in Ripple, after all. And then there are the cracks: Ripple is a promising idea for transferring funds, but the reality o Continue reading >>

Ethereum Price: Why Is Ethereum Dropping Today? Latest Cryptocurrency Crash

Ethereum Price: Why Is Ethereum Dropping Today? Latest Cryptocurrency Crash

Ethereum price: Why is Ethereum dropping today? Latest cryptocurrency CRASH Ethereum price: Why is Ethereum dropping today? Latest cryptocurrency CRASH THE price of Ethereum has slumped today along with rivals Bitcoin and Ripple in the latest cryptocurrency crash. But why is Ethereum dropping today? Ethereum , the second largest digital currency, dropped by 9.78 percent over the last 24 hours, falling to $621 at 7.05pm on March 14 after opening at $690.83. At 9.04am, the token fell further and exchanged hands at 438.37 ($611.90), down 0.51 percent on opening today. The value of the cryptocurrency has plummeted by 16.77 percent in the last week, when Ethereum was trading at $745.19 on March 7. The current slump is being felt across all cryptocurrency markets, amid the threat of regulation. Ethereum, along with all other cryptocurrencies, is currently in the red. The crypto market is currently being battered by warnings about its volatility with warnings that the bubble is about to burst, following a bad week. Last Wednesday, the Securities and Exchange Commission (SEC) vowed to regulate cryptocurrencies at the same time that traders were rattled by claims of hacking in the market. And a sell-off of crypto assets by a Japanese bitcoin holder known as the Tokyo Whale - added to chaos in the crypto world. Ethereum co-founder Joseph Lubin, and chief executive officer at Consensus, said it is "hard to tell" whether the cryptocurrency has lost its appeal but rejected claims that the bitcoin bubble has "burst". Speaking on Bloomberg News, Mr Lubin said: "We are so focused on building decentralised applications on the ethereum platform where we are so much less focussed on cryptocurrencies like bitcoin. Consider ether to be a crypto fuel that powers applications on the decentra Continue reading >>

Bitcoin Crash: Why Cryptocurrencies Ethereum, Ripple Are Crashing | Inverse

Bitcoin Crash: Why Cryptocurrencies Ethereum, Ripple Are Crashing | Inverse

Filed Under Bitcoin , Blockchain , Reddit , Ripple & Security Friday is not shaping up to be a great day for cryptocurrency, with 88 of the 100 largest tokens reporting losses in the early hours of the day. Top coins Bitcoin, Ethereum, and Ripple all suffered losses after a Tokyo-based exchange unexpectedly halted withdrawals. Coincheck, an exchange founded in 2012, halted all fiat currency and cryptocurrency withdrawals, stating that it was preparing a statement in due course. Hiroyuki Komiya, CEO of Tokyo-based Blockchain Technology Consulting, told Bloomberg that Coincheck is a very well-known exchange in the country and people are very eagerly awaiting to hear more detail. Markets reacted negatively to the news. Bitcoin dropped five percent over the 24-hour period to $10,676, Ethereum dropped three percent to $1,025, and Ripple dropped nearly 10 percent to $1.20. The worst performer was the relatively obscure Experience Points, the 96th largest cryptocurrency, which dropped nearly 20 percent. Why Coincheck has suspended trades is unclear. Koji Higashi, Japanese cryptocurrency expert, has reported that one rumor claims the exchange has lost NEM tokens. There is a rumor that coincheck, the biggest crypto exchange in Japan, has lost up to 600 million USD worth of XEM in a hack. But it's not been confirmed officially yet so be warned about FUD and misinformation until the details come out. Koji Higashi (@Coin_and_Peace) January 26, 2018 Yuji Nakamura, Bloomberg tech reporter, said Coincheck is refusing to clarify these rumors. Japanese crypto exchange Coincheck halts withdrawals, deposits, trading in NEM. Rumors is a big chunk was moved from their wallet. Also seems >$130m of XRP moved out too. I called Coincheck, but they wouldn't answer questions and asked me to emai Continue reading >>

Will Ethereum Crash?

Will Ethereum Crash?

I see no reason why it would not crash. It would definitely crash, someday. If you are trying to time the market and thinking to invest in Ethereum when the market falls, then dont. I had a friend who had been thinking to invest in Ethereum when it was 50USD. But then price kept going higher and higher. He thought, next when it would come down to 75USD, he will invest. But that did not happen. Price kept increasing. And he was then waiting for the price to fall to 100USD. But like I said, it never happened. So, just a couple of weeks back, he invested. The cost of Ethereum was then 150USD. Just think, had he invested the same amount a month ago, he would have had 3 times more Ethereum than he has now. So, do not try to time the market. Because, you cant. No one can. The bottomline is, if you have 1000USD to invest, invest 600USD, and keep another 400USD with you. Use that money to buy Ethereum when it falls/dips. Happy Investing. Btw, I am Sanjib and I blog at Bharata Finance. Something always has a possibility to crash. Ethereum was designed very well and like other, it has its own problem. airplane was design very very well and it is considered as using a highest safety integrity level (SIL Level), will it crash? I dont know (but it has a possibility to crash). Application (DAO) and it smart contract may conflict one to each other as Linux and Windows also have this kind of problem. Ethereum biggest problem problem in basic is similar to Bitcoin problem, it has a problem with scalability. I had that problem many times (getting worse) and I predicted this problem before in my previous posting. Will the price crash (realy bad close to 0 - not an up and down, it is common: read this Why the Alts go down again and again after a rise? )? I dont think the price will crash, Continue reading >>

Will Ethereum Crash In 2018? 35 Possible Scenarios You Must Know

Will Ethereum Crash In 2018? 35 Possible Scenarios You Must Know

Its no secret that the Ethereum cryptocurrency value has an uptrend that sees it become most investors favorite blockchain platform. And naturally, ether (ETH), commands a massive interest from the corporate world as well as ordinary people who are out to make some quick bucks from the colossal ROI that Ethereum promises. In addition, the number of ICOs that have come up on Ethereums blockchain has ensured that the price of this crypto has risen again, even when it fell to all-time lows earlier in 2017. That aside, there have been mini-crashes before, like the one that scared investors on 27th June 2017. But the question on most skeptics mind is whether Ethereum is going to survive the next crash, or the bubble will finally burst. In short, are we primed to witness an Ethereum crash today? Will it be tomorrow? Or is it going to happen in 2019? Many investors, including some big shot companies, have chosen to go short on bitcoin and long on Ethereum. The reasoning is that even if it were to happen, Ethereums blockchain system, revamped recently by adopting a PoS application could wither another crash. That is what the optimist says. However, let us be pragmatic and examine the possibility of the fact that we could have Ethereum crash due to a network failure, government interference, issues related to trading failure or a domino effect from other spectacular crashes that could happen with any of the other cryptocurrencies. Will Ethereum crash due to technical issues? It is profoundly unfathomable, but trends around the world indicate that it is a possibility. We should be aware that a purely technical failure could affect Ethereums transactions triggering a downward trend that would affect prices, leading to panic sells and plundering Ether prices to the floor. If that Continue reading >>

Why Will Ethereum Fail?

Why Will Ethereum Fail?

I know the first time I posted about Ether here on Steemit, I had a strong feedback from the community that prompted me to change the content of my post 180 degrees. People do not want to hear what you have to say, they want you to say what they want to hear. When the Dao disaster happened, I did what made sense at the time, bought the DAO when there was blood and sold when they supposedly saved it. But we all know it was not really saved, and the disaster caused Eth classic to come to existence. The tale of two Ethers continues. My opinion of both is the same. What appears to be working does not mean it's actually working. Yes some people made a ton of money, and continue to do so, but that is not an indication it's working. Remember a lot of people made a ton of money from Enron before the illusion collapsed. The road ahead for Ether will be harder and harder, as new competing projects with more competent developers show up, these projects will put the nail in Ether's coffin. I will name two projects, Qtum and EOS. As more and more tokens are created, large sums of ETH is taken out and set aside, this creates a bubble. Most of these tokens if not all have a monthly burn rate, which means they all have to dump ETH to supposedly fund their projects. We will reach a point where the ETH being dumped far exceeds the ETH being locked away. Some projects are now accounting for that by giving the developers the ability in the contract to divest a large sum of Ether if the need arises. So as we go forward one Ether bad news could send all these projects on a run to the bank and cashout of Ether while it's still worth it. This is not an assumption, bad news happen, and with incompetent developers it happens more often. These contracts which are pushing Ether prices ever so hig Continue reading >>

Ethereum Alumni And Cardano Creator Predicts A Cryptocurrency Market Crash

Ethereum Alumni And Cardano Creator Predicts A Cryptocurrency Market Crash

Ethereum Alumni and Cardano Creator Predicts a Cryptocurrency Market Crash Join our community of 10 000 traders on Hacked.com for just $39 per month. The creator of cardano portends that the cryptocurrency markets will undergo a serious correction that will help weed out projects with poor fundamentals. The 2017 market run-up injected hundreds of billions of dollars worth of capital into the cryptocurrency ecosystem, but many industry observers believe that the rally has been indiscriminate and could trigger a crash as investors gradually recognize that many projects have poor fundamentals. My personal opinion is that were going to see a consolidation after a crash, ethereum co-founder Charles Hoskinson told CNBC in an interview Friday. Hoskinson served as chief executive of the ethereum project during its early stages in late 2013 and early 2014. At present, he heads blockchain research firm IOHK, which is best known for its development of Cardano , which currently ranks as the fifth-largest cryptocurrency by market cap. The developer said that he believes the sheer number of cryptocurrencies with poor fundamentals makes a crash inevitable, as many of these projects are wildly-overvalued and ultimately unsustainable. The latest punching bag for analysts who share this opinion has been Dentacoin , a self-described blockchain solution for the global dental industry that currently boasts a market cap of $1.5 billion. Whats going to occur is a lot of these ventures that dont have strong fundamentals, dont have good tech, or just unrealistic projects, they will eventually run into some major wall they cant quite overcome, Hoskinson said. They will fracture up and you will see a lot of them are certain to fail. This, however, could not be realized for some time, as many pro Continue reading >>

Ethereum Co-founder Predicts Crypto Market Will See Crash Before Consolidation

Ethereum Co-founder Predicts Crypto Market Will See Crash Before Consolidation

Ethereum Co-founder Predicts Crypto Market Will See Crash Before Consolidation By Daniel Liberto | January 9, 2018 5:16 AM EST Investors must think carefully about which cryptocurrency to back because a lot of themare certain to fail,an entrepreneur who helped develop Ethereum has warned. In an interview with CNBC , Charles Hoskinson, who currently runs blockchain research firm IOHL, discussed how many investors have been buying alternative cryptocurrencies in recent weeks in the hope that they can mirror the success of bitcoin , the most prominent virtual currency.The co-founder and former CEO of Ethereum, an open software platform that helps to build digital coins, warned that many of these alternative cryptocurrency projects are unsustainableand destined to eventually crash once their many issues are exposed. "What's going to occur is a lot of these ventures that don't have strong fundamentals, don't have good tech, or just unrealistic projects, they will eventually run into some major wall they can't quite overcome, he said. They will fracture up and you will see a lot of them are certain to fail." (See also: How the New Tax Law Impacts Cryptocurrencies ) However, Hoskinson, who predicted a period of consolidation after the crash, added that many of these projects wont fail immediately because they have enough funding behind them to remain competitive for a while yet. "The problem is a lot of them have a lot of money," he said. "It's really hard to fail when your burn rate is $5 million or $10 million a year, and you have $1 billion of capital ." Hoskinson made his comments after a slew of lesser-known digital tokens surged tounprecedented levelsover the past few weeks. Rising investor interest in alternative cryptocurrencies pushed the total market capitalization Continue reading >>

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