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 …

Insufficient Understanding of Cryptocurrencies Results in Their Volatility

Insufficient Understanding of Crypto Currencies Results in Their Volatility

admin Bitcoin Price Index, Cryptocurrencies, Cryptocurrency, In the News, Investments, Investors, Technology, The Future Of Money 0 Comments

Bitcoin made the news in May when it passed the all-time high of $2,700 per unit, before swallowing a sharp correction and losing almost 30 percent of its value in 48 hours. Along the way, many other cryptocurrencies such as Ethereum, Litecoin, Dash, Ripple and Monero have followed Bitcoin in its correction. This scenario naturally leads us to think about the last quarter of 2013, when Bitcoin price jumped from $130 to over $1100. After this boom, we didn’t see a sharp correction, but a long and steady decline to the unit price of $200, followed by a long and steady increase period. Will the same steady decline happen in 2017? The main difference between 2013 and 2017 is that the ecosystem of Blockchain and cryptocurrencies is widely more developed. We went from theories and white papers to proof-of-concept, real world applications and significant investments. Nonetheless, little are those who truly understand the underlying technology powering this ecosystem. An insufficient understanding of the market Investors have been pouring capital into the market, betting that consumer demand will propel future growth. Cryptocurrencies are therefore subject to significant speculation backed by very little analysis, which makes this asset class particularly volatile. David Z. Morris, a contributor …

Ethereum Classic Becomes Fifth Largest Cryptocurrency, Briefly Beats NEM, Litecoin

Ethereum Classic Becomes Fifth Largest Cryptocurrency, Briefly Beats NEM, Litecoin

admin 2017, Altcoin News, Altcoins, Crypto News, Ethereum Classic, In the News, Litecoin, NEM, Prices, Ripple 0 Comments

Ethereum Classic has become the fifth largest cryptocurrency in the world after surpassing the market cap of Litecoin. Briefly, Ethereum Classic also overtook NEM, the fourth largest cryptocurrency with a significantly high daily trading volume. The daily trading volume of Ethereum Classic remains larger than Ripple and NEM, the third and fourth largest cryptocurrencies behind Bitcoin and Ethereum, at $326 mln. In fact, Ethereum Classic’s daily trading volume is 17 times larger than that of NEM. Simply Classic Over the past few months, Ethereum Classic has enjoyed an explosive growth in demand and daily trading volume primarily due to two major driving factors: the debut of the Ethereum Classic Trust and the integration of ETC by leading digital currencies. On April 24, Barry Silbert-led Digital Currency Group, arguably the most prominent investment firm within the Bitcoin and Blockchain industries, launched the Ethereum Classic Trust to provide a platform for accredited and institutional investors to invest in ETC via a regulated channel. Since then, Ethereum Classic has experienced an overall increase in demand, price, market cap and trading volume. By April 1, Ethereum Classic’s market cap was around $200 mln. In less than two months, the market cap of Ethereum surged …

US to Weaken Regulations for Digital Currencies, Blockchain by 2017

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The US government has called for the formation of a “responsible innovation” fintech department to spur the growth of emerging technologies including cryptocurrencies, the Blockchain technology and other financial technologies that could enhance existing financial systems. US regulatory body the Office of the Controller of the Currency (OCC), which previously expressed their optimism towards digital currencies and the Blockchain technology, is planning to launch three offices in Washington, New York and San Francisco led by a chief innovation officer. The 30th Comptroller of the Currency of the United States, Thomas J. Curry, stated: “The OCC supports responsible innovation that enhances the safety and soundness of the federal banking system, treats customers fairly and promotes financial inclusion […] we are ensuring that institutions with federal charters have a regulatory framework that is receptive to responsible innovation.” Effect on Blockchain startups While it is still difficult to speculate the impact of the OCC’s plans on Bitcoin and alternative cryptocurrencies, it will hugely affect the operations of Blockchain and distributed ledger startups that are collaborating with banks and major financial institutions. The OCC states that the formation of a responsible innovation department will allow the organization to “identify, understand and respond to financial …

4 Reasons Why Your Nation Will Kill Cash For A Digital Currency

admin Bitcoin Bank, Bitcoin Politics, Bitcoin Regulations, Bitcoin Startups, Bitcoin Venture Capital, In the News, Institutions & Corporate Client Safeguards, Technology, The Future Of Money 0 Comments

Yes, I’m talking to you. Yes, I’m talking about your country, whether it is Russia, China, or the United States. The more modern and advanced your economy, the faster it is coming your way. The discussions have been going on for a couple of years now on how to do it. The only question is when to spring it on the masses. If you are in a less than a state-of-the-art economy, like Pakistan or Guam, you probably have a lot more time left with the paper. Most of us aren’t so lucky. Cash has been on the clock in the most advanced nations for years, with central banks limiting how much cash you can get, even from your own account. Limits have been dropping to as low as 5000 units of paper in some nations, and even then you will have to surrender your ID or go through some level of interrogation. The future of money does not include paper, and here are four reasons why digital currencies will become your official national currency. Reason #1 – The best way to control a nation is to control its money supply Governments are all about control. Whether it is doling out …

Voxelus Raises US$500,000; Announces Unique Bonus and Rewards System

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Virtual reality content creation platform and marketplace Voxelus has announced a unique bonus and rewards system for cryptocurrency enthusiasts and buyers of its in-game digital currency Voxel, after raising US$500,000 in the first day of its 30-day token crowdsale. The crowdsale of Voxel will be distributed into 3 phases that will last until December 2, 2015. Early buyers and participants of the crowd sale will be able to purchase the digital currency for as low as 1200 voxels per bitcoin. As the crowd sale progresses however, the price will increase gradually and the tokens will eventually be sold at 750 voxels per bitcoin, 7.5% higher than the initial rate. The 30-day crowdsale is currently being facilitated by instant cryptocurrency exchange ShapeShift, the company which also recently facilitated a series of crowd sales for blockchain-based cards trading game Spells of Genesis and Ethereum-built decentralized prediction market Augur. According to the Voxelus team, the company is offering 15% of all possible voxels during this crowd sale. The remaining 85% will be gradually released over the next 20 years, which will be allocated for software development, content creator bounties and marketing. “Voxels are the official currency of virtual reality,” claimed Voxelus chairman and …