Bitcoin: Does it actually use more electrical power than Ireland?

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Image copyrightGetty Images Can something which has no physical presence consume as much electricity as an entire country? The internet has recently been awash with claims that the digital currency Bitcoin could be using more electricity than a number of developed nations. So Reality Check wants to know: how did they work it out, and is it true? Although it has been around since 2009, the digital currency, or crypto-currency, has been dominating headlines across the globe recently thanks to its soaring value. Unlike the notes or coins in your pocket, Bitcoin is not printed by governments or traditional banks and largely exists online. Around 3,600 new bitcoins are created every day through a complex process known as “mining”, where computers are rewarded with a bitcoin for processing mathematical equations through specialised software. Except this isn’t only a handful of computers processing these equations, but thousands of machines all over the world running day and night – that’s a lot of electricity. And as bitcoins increase in value, more and more machines are being plugged in and switched on by amateurs and professionals alike to mine them. Given their digital nature, there’s understandably been a growing curiosity about how much …

Investors Discarding Gold For Bitcoin?

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According to a current analysis, investors are disposing gold for Bitcoin, driving down both the gold rate and bond yields all at once, while cryptocurrencies are up in a huge way. Learn more– > click here all content is copyright CoinTelegraph.Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own expert Bitcoin or cryptocurrency news release CLICK HERE. Powered by ABITCO.IN Read More

10 bankers and fintech execs to enjoy in 2018

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Difficult as it aims to proceed from a bogus account-opening scandal that took off into public view 15 months back, Wells Fargo just cannot appear to remain out of the headlines. Over the past numerous months, the retail banking giant has been hit with a class-action suit declaring that it improperly adjusted the regards to mortgage for debtors who remained in personal bankruptcy, acknowledged charging some 500,000 car-loan customers for vehicle insurance coverage they did not want or need, and found, after an internal evaluation, an extra 1.4 million accounts opened without clients’ authorization, bringing the total to 3.5 million. Keeping Wells Fargo sincere is priority No. 1 for Elizabeth “Betsy” Duke, the bank’s incoming board chair and among American Lender’s 10 people to look for 2018. A previous banker and Federal Reserve governor, Duke will become of the few female chairs at a large U.S.-based bank and the first-ever at the $1.7 trillion-asset Wells. Couple of would question her credentials, however doubts remain regarding whether Duke, who joined Wells’ board in 2015, is independent sufficient to do exactly what’s had to assist Wells regain the trust of workers and customers.Other huge gamers to watch in 2018 are fintechs in …

Bitcoin “Mania”: Individuals are Taking Out Home Mortgages to Buy Cryptocurrency

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In the 1630s, the Dutch went absolutely wild for tulips. Demand for the flowers was so ridiculously high that prices rose astronomically, until a single bulb could cost as much as 10 times a person’s entire annual salary… until it all suddenly collapsed in 1637. The phenomenon has become known as tulip mania. That’s the historical event the president of an investor protection organization saw as the best parallel for the current craze during an appearance Monday on the CNBC show Power Lunch. He made the analogy while explaining what he saw as a fundamental uncertainty around the -based cryptocurrency. “The problem is this: Innovation always outruns regulation, and right now there’s very little regulation in this entire area,” Joseph Borg, the head of the North American Securities Administrators Association, said on the show. “So we’re waiting to see what happens. Right now, this is sort of the mania phase of it, it’s kind of like tulip mania without the tulips right now.” Borg described just how far people were willing to go to get in on bitcoin’s surging value, with some suggestion that people are being sold false promises even beyond whatever one may think of the cryptocurrency’s nearly …

‘More unstable’: Bitcoin strikes Wall Street and futures provide wild ride

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Bitcoin has landed on Wall Street. Futures on the world’s most popular cryptocurrency surged as much as 26 per cent in their debut session on Cboe Global Markets’ exchange, triggering two temporary trading halts designed to calm the market. Initial volume exceeded dealers’ expectations, while traffic on Cboe’s website was so heavy that it caused delays and temporary outages. The website’s problems had no impact on trading systems, Cboe said. Bitcoin’s spot price rose. Up Next More BusinessDay Videos Futures market puts bitcoin surge in … Futures market puts bitcoin surge in spotlight Despite doubts over the sustainability of its recent rally, the virtual currency is due to gain a first futures market in the coming days. Up Next ASX winners and losers – a snapshot ASX winners and losers – a snapshot The stand out listings traded on the ASX captured at key moments through the day, as indicated by the time stamp in the video. Up Next Can Taxify compete with Uber in Australia? Can Taxify compete with Uber in Australia? Taxify, an Estonian ride-sharing application, is vowing to bring greater competition to Sydney. Up Next First futures market puts bitcoin surge … First futures market puts bitcoin …

Litecoin is surging after Bitcoin futures launch

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Photo: Noah Luis Image of/ Caption Close Image of The fifth largest cryptocurrency on the market surpassed $80 per coin Friday afternoon, as more well-known digital currencies such as bitcoin and ethereum continue to reach new heights. The fifth largest cryptocurrency on the market surpassed $80 per coin Friday afternoon, as more well-known digital currencies such as bitcoin and ethereum continue to reach new heights. Photo: Noah Luis Litecoin is surging after Bitcoin futures launch  /  Back to Gallery Marko Ahtisaari/Flickr Litecoin, the fifth-largest cryptocurrency by market cap, has gained more than 25% in value over the last 24 hours, reaching an intra-day high of $195.66 per coin. The gains come the day after Cboe Global Markets, a a Chicago-based exchange operator, launched trading of Bitcoin futures contracts. Litecoin initially saw a hefty loss after Coinbase’s GDAX exchange crashed last week, briefly sagging below the $100 mark before this week’s skyrocket in price. Litecoin uses a slightly different mining technique than bitcoin, but has been largely left out of the cryptocurrency explosion. While the cryptocurrency has seen its value skyrocket by 4,975% this year, it’s still trading at just $187 per coin, compared to bitcoin’s $17,006. For comparison’s sake, bitcoin is …