Why Ethereum May Grow Higher in Value Than Bitcoin

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In May 2017, investors and spectators alike saw Bitcoin price pass the value of $2,300. This figure marks the highest peak of Bitcoin’s value in its entire lifetime. Due to the success of Bitcoin over the years, many investors have been attracted to it and other cryptocurrencies as well. However, Bitcoin is not the only cryptocurrency that has risen in value. Another leading cryptocurrency known as Ethereum has also ascended in value since January 2017. From its original value of $8.24, it has recently gone on to attain a figure of $203, which represents a rise of 2,367 percent. Investors worried It has been within the last few years that cryptocurrencies have gained much favor among investors who are looking for alternative means of investing other than the traditional investment mediums. While most investors still have their money invested in traditional financial markets, such as the stock market and the forex market, a lot of these investors have become worried about the economic climate of the world economy. With recent events pointing to its inherent instability, many investors have been looking to other means of investment where they can put their money. With the creation and popularization of cryptocurrency, as well as its sharp rise in value, many …

Zooko Wilcox Admits Snowden is Right That Bitcoin, Ethereum, Zcash Can Help Evade Taxes

Zooko Wilcox Admits Snowden is Right That Bitcoin, Ethereum, Zcash Can Help Evade Taxes

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There has been growing controversy over new cryptocurrency Zcash, since a tweet by Edward Snowden suggested that it will encourage tax protests. Snowden’s tweet was attached to a post by The New York Times, where Zcash was described as a “harder-to-trace virtual currency.” Snowden wrote in regard to the article: “Coincidentally, new technologies raise the possibility of unstoppable tax protests.” Selective disclosure Created by computer scientists at Johns Hopkins University and Massachusetts Institute of Technology, Zcash has been claimed to have secured $3 mln in backing from Silicon Valley venture capitalists, and its developers claim to have used advanced cryptography to create the virtual currency. Rather than coming forward as a privacy purposed entity with ulterior intentions, as has been interpreted from Snowden’s comment, the CEO of Zcash, Zooko Wilcox, describes the functionality of the cryptocurrency as “selective disclosure.” Wilcox says that this characteristic of Zcash makes it possible for businesses to conceal their private transaction details from competitors, thieves and foreign enemies, while simultaneously disclosing that information to their country’s tax authority. What Snowden really means However, Wilcox explains that he understands Snowden’s line of thought as it applies to other cryptocurrencies. “I can also see where Edward Snowden is …