Cryptocurrency
A Japanese cryptocurrency exchange, Zaif, experienced a momentary software glitch in mid-February that allowed to buy Bitcoins for nothing at all — and one enterprising buyer tried to make off with $20 trillion worth. Much like stock traders who place “stink bets” of nearly zero on volatile stocks, hoping for a flash crash to accidently […]
The evidence is compelling: Cryptocurrency has a crisis on its hands and it is not increased global regulation. Launched in 2009, Bitcoin has quickly become the fastest-growing currency in recorded history. Bitcoin miners, mostly ordinary people with home computers, have bolstered its surge across the globe — along with massive energy consumption to do the […]
The only guarantee offered by cryptocurrency investing is volatility. Revolutionizing modern currency is going to take time — and for good reason. Markets are unpredictable and unreliable but also an indicator of change. Crashes mean things are changing, even maturing. Crashes are unavoidable. The truth is: They are necessary. The ebb and flow of the markets […]
Hackers recently stole $530 million from a cryptocurrency exchange in Japan. This wasn’t the first exchange to suffer that fate. The biggest theft before that was the $400 million theft from another exchange based in Japan, Mt. Gox. Bloomberg reports smaller attacks cumulatively have cost cryptocurrency investors more than $1.2 billion. Hackers often target a weak link […]
An anonymous Bitcoin investor bought more than $400 million worth of the cryptocurrency in early February 2018 — just as investors pushed the once high-flying coin toward its recent low price of under $6,000. Bitcoin now trades above $10,000, a 67% change in investment value. The anonymous investor bought more than 96,000 Bitcoins between Feb. […]
T-Mobile, the No. 3 wireless carrier in the United States at 70.7 million customers, has been quietly hiring respected cryptocurrency developers since last summer. Now the company appears poised to announce a blockchain project that could put the carrier in competition with much larger cloud computing players such as Google and Amazon and, not incidentally, positively […]
The young Russian programmer who invented Bitcoin rival Ethereum recently warned on Twitter that all crypto coins are essentially valueless. Vitalik Buterin told investors to stick to ordinary stocks and bonds instead, and only to invest in crypto what they could afford to lose. “Cryptocurrencies are still a new and hyper-volatile asset class, and could […]
Some good news inside the crypto world: A White House official charged with cybersecurity said cryptocurrency regulation is unlikely to appear in the near future. Rob Joyce, cybersecurity coordinator and special assistant to the president, was quoted by CNBC while at the Munich Security Conference. “I think we’re still absolutely studying and understanding what the good ideas […]
Economists at the Federal Reserve Bank of New York believe that Bitcoin could be the future of transactional currency. But only in a dystopian world where the public trust in government-backed currencies has been completely shattered. Michael Lee and Antoine Martin work in the research and statistics group section of the New York Fed. The […]
In a stunning reversal, Thailand says there will be no ban of exchanges, initial coin offerings (ICOs), or investing in cryptos, as has been previously reported. However, the kingdom said it would take a strategy similar to that of South Korea and restrict banks and financial institutions from getting involved while regulatory guidelines are drafted this […]
