The Most Important Cryptocurrencies Other Than Bitcoin? | Investopedia
Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, its become the de facto standard for cryptocurrencies . The currencies inspired by Bitcoin are collectively called altcoins and have tried to present themselves as modified or improved versions of Bitcoin. While some of these currencies are easier to mine than Bitcoin is, there are tradeoffs, includinggreater risk brought on by lesser liquidity , acceptance and value retention. Since Bitcoin prices are soaring new highs, we look at six cryptocurrencies, picked from over 700 (in no specific order) that could be worth your while.(Related reading, see: How Do Bitcoin Investors Combat Price Volatility? ) Litecoin , launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as silver to Bitcoin s gold. It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade. AlthoughLitecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin. Launched in 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (Apps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. The applications on Ethereum are run on its platform-specific cryptographic token, ether . Continue reading >>
Cryptocurrency Are A Bubble: What's Next?
Cryptocurrency Are A Bubble: What's Next? In my article Cryptocurrency Is A Bubble I predicted it would crash. Well I was wrong, it crashed twice. In part two, Cryptocurrency Is A Bubble, Revisited , I argued you should skill up because this was the big one. Which Im sure many are doing right now. Now the big question is what is going to happen next? It is going to crash again but the trend is going to be up punctuated with gut wrenching corrections. This is only the beginning, not the end, of Bitcoin and the other 1,000 altcoins. There is only one call to make. That call is simple and was highlighted by Jamie Dimon of JPMorgan: Is cryptocurrency a fraud? JPMorgan thinks it is, and youd think they should know, having been investigated by the likes of the FBI and fined bazzillions for such things. Clearly if you agree with Jamie Dimon and you are right that people just cant go around inventing their own currency, you should just avoid the whole area. Dont let go of that view and buy in at the top. Now that would be painful. If Dimon is right, cryptocurrencies will end badly just like many banks. If cryptocurrencies are not frauds, they will grow. The key question, then, is what is the current market cap of all cryptocurrencies on earth now and what could it be in the future? It is currently $121 billion. (Though by the time you read this it might be a lot higher.) $121 billion is equivalent to the market cap of McDonalds, esteemed purveyors of hamburgers. So here is the Google trends for them bothand Ive thrown in the U.S. dollar, for fun. Google trends for cryptocurrency versus Macdonalds and the U.S. dollar So it looks as if Ronald, like China, needs to worry about Bitcoin becoming too important. But seriously, a financial instrument category with $121 billion float i Continue reading >>
Will Cryptocurrencies Be The Art Markets Next Big Thing?
Arts |Will Cryptocurrencies Be the Art Markets Next Big Thing? Will Cryptocurrencies Be the Art Markets Next Big Thing? A selection of CryptoPunks, a collection of 10,000 characters with proof of ownership stored on the Ethereum blockchain. Credit Larvalabs.Com LONDON Theres a new gold rush. But this precious metal doesnt actually exist. The frenzy is for so-called cryptocurrencies or encrypted digital money and their value skyrocketed in 2017. The price of Bitcoin, the pioneer decentralized virtual currency, rose more than 1,300 percent last year, despite plunging 40 percent at one point in December. A Bitcoin rival, Ether , was up 8,000 percent. It is thought that the total worldwide value of cryptocurrencies could reach $1 trillion this year. Bitcoin and its derivatives have, for the moment, proved too volatile and unwieldy for day-to-day transactions. Yet the cryptocurrency model, underpinned by decentralized blockchain ledger technology , is increasingly becoming a force in more specialized areas of the economy. The art world is one of them. On Dec. 16, the nascent market for what might be called cryptoart appeared to reach a new level when the hitherto-unknown Distributed Gallery announced the auction of Ready Made Token, a unique unit of a cryptocurrency that the gallery said was created by Richard Prince using technology from Ethereum, the network responsible for Ether. The online gallery describes itself as the first to specialize in blockchain-based artwork and exhibition. It invited bids for the work, starting at one Ether, equivalent to about $650 at the time. (As of Friday, one Ether was worth about $1,200, according to ethereumprice.org .) The timed auction ends on Monday. The appearance of a crypto ready-made by an artist of Mr. Princes stature seemed to Continue reading >>
Bitcoin Ethereum: 7 Cryptocurrency Predictions From Experts | Fortune
Get Data Sheet , Fortunes technology newsletter. 1. Bitcoin and Ethereum are here to stay. Most people who are enthusiastic about cryptocurrency appear to agree that Bitcoin and its newer rival Ethereum have staying power, though they may be more bullish on one versus the other. In terms of 5 to 10 years, Bitcoin and Ether will be around I bet, Balaji Srinivasan told the room of more than 70 people. Peter Smith said his company, Blockchain, which was early to Bitcoin, has only just started to warm up to newcomer Ethereum. In contrast, Mike Cagney, CEO and cofounder of SoFi, a personal finance company, said during a separate session on the main stage that he was hotter on the latter technology . Bitcoin has some purpose but its application for commercial transaction is limited right now, Cagney said. The blockchain and Ethereum, on the other hand, have absolutely fascinating infrastructure applications, he continued, mentioning the possibility to overhaul title insurance, which involves policies related to real estate, as one example. 2. As yet unknown coins will hit the big time. Bitcoin and Ethereum may have stolen the show at this point, but the innovation wont end there. Expect more winners on the horizon. Kathleen Breitman is hopeful that Tezos, her own blockchain bet, will fill a niche that solves problems with extant blockchains. In particular, she and her projects developers are designing Tezos to automatically push software updates out to the network, thus, in theory, avoiding the divisive feuding over upgrades that has wracked systems like Bitcoin over the past few years. No one can say how many tokens and coins and blockchain protocols will eventually win out, but the experts seem to think theres room for a multitude. Its likely that another one or two domina Continue reading >>
Is Primecoin The Next Big Thing After Bitcoin?
Is Primecoin the next big thing after Bitcoin? Unless youve fully managed to shield yourself from the news in the past year, chances are Bitcoin has popped up on your radar at least once. As Bitcoin is becoming more and more accepted, it is likely to pave the way for other cryptocurrencies . Bitcoin is hardly the only one. There are numerous other currencies that are similar in nature. If youre like me, youve already started to look for the next big thing. One of the most fascinating aspects of Bitcoin (and other cryptocurrencies) is the concept of mining. In simple terms, you can put your computer to work and make money. Depending on the particular cryptocoin, the exact task your computer(s) will be executing will vary. The problem with mining Bitcoin these days however is that it isnt cost effective to do on commodity hardware anymore. Just a year or two ago, you could actually mine Bitcoin on your home computer and make a decent chunk of Bitcoin (in particular given todays exchange rate). These days, you will need some kind of custom hardware like this, this or this. If we assume that you are not willing to invest in custom hardware to mine cryptocurrencies, there is still hope with other up and coming cryptocurrencies. One of these upcoming cryptocurrencies is Primecoin (also known as XPM). What makes Primecoin in particular interesting is that you cannot (currently) use GPUs for the mining. This makes Primecoin extra attractive from a scalability perspective, as you can easily set up a large scale mining farm in the cloud and avoid having a lot of servers running in your house. To make things easier for you to get started mining, weve gone ahead and created a turn-key Primecoin mining server (running primecoin-0.1.2-hp11) and made this available in the drives libr Continue reading >>
Ark Is The Next Big Thing And I Can Proof It! : Cryptocurrency
(non-native speaker here, so please excuse any mistakes. They should not take away from the content of my rant Edit: Sorry for the mistake in the title... that's what i was talking about :-( ) In September, ARK pushed in a very short time from 30k satoshis to 120k I have no idea why.Ever since then it has been slowly declining tot he satoshi-value it had before. Its been traded at around 30-35k satoshis for quite some time now.All throughout the decline, people have been crying for some PR action by the ARK team myself included but they did hardly anything and so interest in ARK slowly faded away. Once being a TOP20 coin, is has now fallen out oft he TOP30, overtaken even by Meme-coins like Monacoin. However, ever since I started Due Diligence on ARK i had a feeling in my gut that this could be the next big thing my ticket to moonlambo! I followed the development closely, talked to many people and hung out in the slack channel for many, many hours. I couldnt understand why the team wouldnt do any promotional work for its own coin. Yesterday I somehow couldnt sleep and opened the slack app to a for me unusual time and happened upon a conversation djselery, the ARK community manager, had with other members. And somehow it made click. The final puzzle piece fell into place and I suddenly had the explanation as to why my gut feeling was correct why ARK will be the next big, big thing. Im talking ETH-big. First of all, lets recap what ARK wants to be and what makes it attractive: Use case: ARK wants to bridge different cryptocurrencies. Vendor A takes only BTC, Vendor B only Shitoin1, Vendor C accepts Shitcoin2? Well, no big deal, Ive got ARK. ARK will execute the conversion for me. Ill have ARK leaving my wallet, and every vendor still gets the coin he wants. I dont think Continue reading >>
Bitcoin's Time Could Be Up: Are Government-backed Cryptocurrencies The Next Big Thing?
Bitcoin's time could be up: Are government-backed cryptocurrencies the next big thing? Unless you are a hermit in the Himalayas, you would have undeniably heard about Bitcoin and other cryptocurrencies like Ethereum, Ripple, and Litecoin. These are decentralised digital currencies , in which transactions take place peer to peer without any intermediary or bank. To ensure their authenticity and prevent fraud, the transactions are verified using cryptography and recorded in a public distributed ledger called blockchain . Blockchain-based cryptocurrencies are known to have substantial advantages over traditional fiat currency in that they are transparent, more secure, have no limitations, are not restricted by borders, and can be transferred in a cheap and fast way. Further, for those worried about their privacy, these cryptocurrencies offer a certain degree of anonymity totally absent in traditional banking. Some cryptocurrencies like Ethereum are additionally tied to a broader application platform which provides functionalities like smart contract. Having recorded a combined growth of over 10,000 percent in the last year itself, cryptocurrencies have attracted everyones attention. Just the other day, my almost taxi driver randomly started chatting with me about bitcoin. Hinging on apprehensions of tax frauds, crime, and regulation, the response from governments to this new financial trend has been mixed at best with some outright outlawing cryptocurrencies and others maintaining significant skepticism regarding their existence. Nonetheless, despite the animosity and the doubts, governments surely dont want to be left behind, and many of themare exploring the possibility of themselves getting into the cryptocurrency business. India is considering floating its own cryptoc Continue reading >>
Beyond Bitcoin: Whats The Next Big Cryptocurrency?
Beyond Bitcoin: Whats the Next Big Cryptocurrency? An image of Bitcoin and U.S. currencies is displayed on a screen as delegates listen to a panel of speakers during the Interpol World Congress in Singapore on July 4, 2017. ROSLAN RAHMAN/AFP/Getty Images In 2017 alone, the price of a Bitcoin exploded from under $1,000 in January to more than $10,000 in early December, earning the top cryptocurrency a market capitalization of more than $167 billion . The surprise success of Bitcoin has opened the floodgates to a torrent of new cryptocurrencies competing for investor dollars. Bitcoin is an invisible digital currency (with no physical backing) that can be sent from one internet user to another. It runs on blockchain technology. The blockchain works by recording financial transactions on a shared digital ledger that's encrypted on a peer-to-peer network. Instead of relying on a large financial institution or centralized servers to process payments, the blockchain runs on thousands of computers or "nodes" worldwide. Advanced cryptography keeps financial information secure and largely anonymous, so data breaches are impossible. The blockchain is being heralded as a world-changing technology that will permanently disrupt the highly centralized (and fee-based) financial system. Investors, eager to get in on the ground floor of this potentially revolutionary technology, are throwing money not only at Bitcoin, but at the more than 1,000 crypto-competitors known collectively as "altcoins" (Bitcoin alternatives). Skeptics are comparing this to the dot-com bubble. Bitcoin was first released in 2009 by anonymous coders under the pseudonym Satoshi Nakamoto. Critics initially dismissed Bitcoin as a futurist pipe dream or worse, a boon to black market criminals but now Bitcoin's underl Continue reading >>
Forget Ethereum Or Bitcoin, This Crypto Is Where Money Will Be Made
Forget Ethereum Or Bitcoin, This Crypto Is Where Money Will Be Made It is safe to say cryptocurrencies, driven by the underlying blockchain technology adoption, are becoming mainstream. Many people see the return BTC has offered in the last 5 years and are looking for the next big thing. Recently multiple articles on SA voiced an opinion that Ether (Ethereum's underlying crypto "fuel") is the next investment for huge returns. I explain why this is not really the case both due to the situation with Ether as well as the better option out there (Ripple/XRP). It seems as though everyone and their grandma's know about Bitcoin today. With a price around $5600 at the the time of writing, and a price of only $60 as recently as 2012, it is easy to see why people wishing to invest are curious about the technology. I have been an investor in the cryptocurrency space since 2013. I first bought BTC for $60 back in 2012, and sold it after a few weeks for $120, only to watch it escalate to $600 mere days later. Due to my interest in the space and active trading of the crypto, I was fortunate enough to meet someone I was buying BTC with who little to my knowledge was quite prominent in the crypto community, Joe Lubin. Joe Lubin is the Co-Founder of ConsenSys, a decentralized blockchain technology incubator. I was lucky enough to meet with Joe in the spring before the Ethereum presale began, and he was kind enough to tell me about his project. As a result of this encounter, I have been following Ethereum and Ether pretty much since the first public information was available about it (find my initial coverage about it on SA in March 2016 here and here ). I watched the pre-sale for .80 cents a share, and watched it climb to $16 before I bought in, and sold at various point between $50 an Continue reading >>
Bitcoin Price: Expert Reveals The Next Cryptocurrency Ripple? | City & Business | Finance | Express.co.uk
Bitcoin is the old dog compared to Ripple and ethereum, McGlone warned Thats the problem with bitcoin, its like AOL, its the first born Its getting that way, all the new ones are coming and theyre transacting faster, theyre new and improved. Theyre generation two, three or four whatever you want to call it and bitcoinisbecoming the old dog. But Mr McGlone said bitcoin does have an advantage in being the first cryptocurrency as it is also the most famous. He said: The thing thats beneficial is that its the one that everybody knows, its the first born its used as the main transaction. The strategist warned that the big difference for bitcoin now was major competition from cryptocurrencies like Ripple and etheruem. He said :But things like ethereum, Ripple and litecoin and all the other ones, theres just so much competition now and thats the big difference. Ripple has skyrocketed by more than 1,000 per cent since the start of December 2017, when it was trading at about $0.24. It does not hold the level of anonymity that bitcoin does, which makes the currency more favourable to banks. Continue reading >>
Why Stratis May Be The Next Bigthing
Forget the politics of Bitcoin and the issues with Ethereum, the next big thing in technology might very well be right under our nose right now. Cryptocurrencies are in the middle of a moment. The prices of Bitcoin, Ethereum and the entirety of alt-coins are almost all universally increasing in value, and not by a little, but by dramatic amounts. There are a number of theories to explain the sudden price increase in 2017 and some of them have valid merit. The two major players in cryptocurrencies (Bitcoin and Ethereum) are both facing major issues, challenges, and political issues internally and externally that are causing cause for concern. Bitcoin, the grandfather of cryptocurrency, is starting to show its age. Transaction times on the Bitcoin network are not just slowing down, they are grinding to a halt. There is a civil war raging regarding the implementation of Segwit and worries of a potential fork. Ethereum is facing its own set of challenges. Last year, Vitalik Buterin agreed to hard fork Ethereum to return stolen coins from the DAO hack. This, among other issues, has cast a black cloud over Ethereum in regards to the integrity of its network going forward. This caused a spin-off coin, Ethereum Classic that has caused great confusion for new investors. If you dig through the muddled soup of alt-coins and do enough research, there is one coin that appears to rise head and shoulders above the rest. Why I Think Stratis Is The Next BigThing I am not a huge investor into cryptocurrency. Frankly, I find it very challenging to even get my money into the market. Coinbase is slow , unreliable , has horrible customer service , randomly restricts user accounts , just to mention a few of their plethora of issues. So when I do manage to get my hard-earned cash into cryptoc Continue reading >>
Looking Beyond Bitcoin. Whats The Next Big Cryptocurrency?
Looking Beyond Bitcoin. Whats the Next Big Cryptocurrency? Cryptocurrencies began capturing the mainstream attention sometime in 2013, thanks to the sudden rise of Bitcoin. In January, 2012, the bitcoin was trading at a price of only $6. By April 2013, its price had shot up to just under $150. Looking Beyond Bitcoin. Whats the Next Big Cryptocurrency? 12.12.2017 Leave a comment Thats a 25 times appreciation in value. Obviously, it caught the attention of anyone remotely interested in investing their money in any high return instrument. Soon, more people joined the bandwagon and began pouring more of their money into this cryptocurrency. After years of spectacular growth each bitcoin is today valued at over $16,555, which is increasing rapidly. So, within just 6 years, during the period from January 2012 to December 2017, bitcoins price has jumped by over 2700 times. The incredible success of bitcoin has spawned a whole army of cryptocurrencies from different developers. Bitcoin was created as recently as 2009. Today, there are already more than 1600 cryptocurrencies . They are all collectively known as altcoins, (Bitcoin Alternatives). Each of these cryptocurrencies offers a range of benefits to their users. Some of them are nothing more than bitcoin copycats, albeit with a few minor modifications. For instance, Dogecoin is pretty much similar to bitcoin in most aspects, except that it has the face of a Shiba Inu as its mascot. That being said, some cryptocurrencies do offer useful benefits like anonymity. Even though bitcoin transactions are fairly anonymized, they are not truly anonymous. However, Monera , an altcoin, offers an unprecedented level of anonymity to the transactions made on its platform. Likewise, other cryptocurrencies offer different benefits. But, do Continue reading >>
Cryptocurrency Investors Worry, Wait After Bitcoin Price Drop
Cryptocurrency Investors Worry, Wait After Bitcoin Price Drop Cryptocurrency Investors Worry, Wait After Bitcoin Price Drop Over the last month, in a series of volatile swings, the price of the cryptocurrency bitcoin rose to a record high then plunged to less than half that value. The abrupt changes have inspired comparisons to the dot-com bubble, and underscored the extremely speculative nature of investing in cryptocurrency. By Wednesday, the price of bitcoin fell below $10,000 for the first time since Dec. 1, at one point dropping to less than $9,300 on one exchange (still significantly higher than the price just a few months ago). The price has risen back to around $12,000, but economists and investors are unsure how long it will stay there. Some speculate the recent slide was due to fear over regulatory crackdowns on the cryptocurrency market. Cryptocurrency trading hotbed South Korea has suggested a ban on trading might be possible , though the country has not yet finalized any plans. Similar reports recently circulated about China. The anxiety over anticipated crackdowns may have helped trigger a selloff across the cryptocurrency market Tuesday. The largest and best-known of hundreds of digital currencies, bitcoin is a decentralized digital currency that is bought and sold in exchanges internationally. "It's not based in dollars," Timothy Lee, a senior reporter at Ars Technica, told NPR's Scott Simon . "Instead, it has its own currency, just called the bitcoin. And its value floats against other currencies the same way the dollar and the euro float against each other." "Bitcoin is based on a revolutionary technology. Users say it's got this very effective system for verifying transactions," NPR's Uri Berliner reports . "And bitcoin believers point out that this Continue reading >>
Mark Zuckerberg Says Facebook Will Look Into Cryptocurrency
Facebook CEO Mark Zuckerberg says Facebook will be looking into cryptocurrency in the new year. "There are important counter-trends to this encryption and cryptocurrency that take power from centralized systems and put it back into people's hands," Zuckerberg wrote in his 2018 mission statement , issued on Thursday. "But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services." Should you be looking into digital currency too? Here's what top investors have to say: The cryptocurrency " is a fraud ," JPMorgan Chase CEO Jamie Dimon said at the Delivering Alpha conference presented by CNBC and Institutional Investor. "It's just not a real thing, eventually it will be closed." He added, at a separate conference organized by Barclay, "It's worse than tulip bulbs. It won't end well." Michael Novogratz: Cryptocurrencies like bitcoin are 'going to be the biggest bubble of our lifetimes' "I think this [crypto] is going to be the biggest bubble of our lifetimes by a long shot," the former Fortress hedge fund manager said at a CoinDesk bitcoin conference . "To be fair, this is a bubble and there's a lot of fraud mixed in. We look at tons of projects. And some get funded, and they literally look like Ponzi's. There's a lot of froth and fraud in something that's exciting as this." Novogratz's remarks came right after he gave an aggressive projection for bitcoin : It "could be at $40,000 at the end of 2018. It easily could," he said on CNBC's " Fast Money ." And he saw big things for other cryptocurrencies too: "Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well." Mark Cuban: Only invest if you're prepared Continue reading >>
7 Cryptocurrencies To Watch In 2018 If Youre On The Hunt For The Next Bitcoin
7 cryptocurrencies to watch in 2018 if youre on the hunt for the next bitcoin Analysts pick the bitcoin rivals to read up on now: Litecoin, Monero, Neo, Cardano, Ripple, Iota and Bitcoin Cash MarketWatch photo illustration/iStockphoto Whatever the cynics out there want to call bitcoin, its BTCUSD, -2.03% insane rally continues to befuddle the haters and enrich the crypto faithful. Fear of missing out can have a powerful and dangerous influence on financial decisions. Its playing out in a big way right now as many of those whove missed out on the digital currency craze kick themselves and frantically search for the next bitcoin or something even better. But does that even exist and is it worth the risk to invest? While hes still extremely bullish on what lies ahead for bitcoin, George Tung, co-founder of Cryptos R Us and a veteran of investing in cryptocurrencies, says theres still plenty of upside opportunity in lesser-known coins. Will we see another coin with a market cap exceeding bitcoin? he said. Yes, I believe that is definitely possible within the next three to five years. Related: Bitcoin and cryptocurrency on Twitter: The most important people to follow Hitesh Malviya, the crypto consultant behind ItsBlockchain.com, says that bitcoin is obviously the place to be during bullish explosions like the one were seeing right now, but, in the long run, the big gains in cryptos lie elsewhere. The alts industry is new and it will take at least a few years to become mainstream, he said, adding we can see 10x gains like bitcoin this year, in many alt-coins. Related: Crypto chatter on Reddit is up 930% this year. So... is THIS the top? But with more than 1,300 alt-coins basically any digital currency that isnt bitcoin to choose from, its no easy task uncovering potential w Continue reading >>