The promise of bitcoin as a medium for daily transaction may take time. Meanwhile, the cryptocurrency has found use as the preferred means for wire transfers at small businesses. “At this point, there’s a strong business case for cryptocurrencies to displace wire transfers because they are outdated and take way too long,” says Jared Silver, president of Stephen Silver, a jewelry store located in Silicon … Continue reading Bitcoin’s Pivot From Retail To Wire Transfers For Small Businesses
For most of this year, the price for Ripple’s XRP has trended downward. Towards the end of 2018’s first week, XRP price reached a high of $3.54 and a market cap of $137 billion. But its price cratered soon after in the swoon that enveloped cryptocurrency markets as media reports and crypto experts questioned XRP’s utility within the Ripple ecosystem. Until last week, XRP’s price … Continue reading Why Did The Price For Ripple’s XRP Jump Over The Weekend?
When the going gets tough, the tough charge more. Or so it would seem from a recent Bloomberg article about cryptocurrency exchanges, which have resorted to unconventional tactics to shore up trading volumes and fees. The story lists three business tactics being used by exchanges to make up for decline in revenues. Here’s a short description of each: High Fees The law of supply and … Continue reading Cryptocurrency Exchanges Are Adopting New Tactics To Make Money
Going by news headlines, it would seem that the news was all gloom and doom this past week. But that assessment may not be true. As the chart shows, however, the top 10 cryptocurrencies managed to eke out gains even in the face of downward pressure. Bitcoin flirted with $5,000 territory this past week, when it dropped to $6190 on Tuesday. But the original cryptocurrency … Continue reading Cryptocurrency Markets Eke Out Gains In A Mixed Week
During his trips to Washington D.C., Jonathan Johnson, president of Medici Ventures and former gubernatorial candidate in Utah, always talks to cab drivers in his travels around the city. Most of the cab drivers are Ethiopian who travel back to their native country infrequently, he says, adding that they send money to their family via Western Union, he says. “The percentage that Western Union takes … Continue reading Medici Ventures Company Bitsy Launches New Crypto Wallet For Money Transfer
Even as a swirl of doubts engulf the utility of Tether, the numbers of stablecoins to prop up cryptocurrency markets has multiplied dramatically this year. The stablecoins list includes the likes of Basecoin, MakerDAO, and Havven, all of which have received funding from marquee names in the venture capital industry. The Winklevoss brothers, who are pioneers in cryptocurrency markets, also recently launched the Gemini dollar, … Continue reading How Do Investors Profit From Stablecoins?
Ethereum’s ether was among the biggest losers in the cryptocurrency crash that occurred earlier this week. Since Wednesday, the cryptocurrency has lost approximately 23% of its value, shedding a substantial portion of gains it eked out during a decline in bitcoin’s price. On an overall basis, ether is down by 84.3% from its peak during the second week of January this year. Ether’s ebbs and … Continue reading Is Ether Useless?
Multiple recent reports have attributed the crash in bitcoin prices and cryptocurrency markets to investment bank Goldman Sachs’ decision to reconsider entry into bitcoin trading. But that may not be true. In an interview at Techcrunch Disrupt, Marty Chavez, CFO at Goldman, termed the reports as “fake news”. “I was in New York yesterday and I was co-chairing our risk committee, and I saw the … Continue reading Goldman Sachs CFO Says Reports About Reconsidering Bitcoin Trading Is “Fake News”
Besides providing the impetus for creation of another cryptocurrency, the 2016 hack of Decentralized Autonomous Organization (DAO), a human-less venture capital firm, also highlighted flawed governance models in cryptocurrencies. When faced with the choice of either freezing investor funds (and avoiding a blockchain split) or creating a hard fork with a new set of rules to return funds to investors, ethereum’s core developers opted for … Continue reading Can Liberal Radicalism And Quadratic Voting Solve Governance And Funding For Cryptocurrencies?
Bitcoin price and crypto markets continued their tumble from yesterday even as a slew of news that could be construed as positive emerged regarding the cryptocurrency. Bitcoin continued its downward descent, falling by as much as 8% from its price 24 hours ago. At 17:09 UTC, it was changing hands at $6403.66, down 4.24% from a day earlier. The marquee cryptocurrency’s fall this week has … Continue reading Bitcoin Price Continues To Crash; Crypto Markets Follow
Bitcoin price retreated this morning, losing 6% of its total value in an hour, after the publication of a news report stating that investment bank Goldman Sachs may be reconsidering its foray into bitcoin trading. As of this writing, bitcoin was trading at $7009.59, approximately 5% down from its price 24 hours ago. The original cryptocurrency fell below $7,000 at 11:06 UTC this morning before … Continue reading Bitcoin Price, Crypto Markets Fall After Goldman Reconsiders Crypto Trading
When Venezuela’s petro was launched in February this year, the country’s president Nicolas Maduro had great hopes for it. “Today, a cryptocurrency is being born that can take on Superman,” he said, in a reference to the U.S. sanctions which crippled Venezuela’s economy. The petro would presumably help the South American nation circumvent sanctions by enabling another unit for international trade, instead of the commonly-accepted … Continue reading The Case Of The Disappearing Petro, Venezuela’s National Cryptocurrency
The blockchain future might arrive sooner than you think, if the proliferation of courses related to cryptocurrencies and blockchain is any indication. According to research conducted by Coinbase and Qriously, a London-based ad-tech firm, 42 of the world’s top 50 universities have already jumped onto the cryptocurrency and blockchain bandwagon by offering, at least, one class on the subjects. 22 percent of such universities offer … Continue reading Top Universities Take The Lead In Crypto Courses And Education
Bitcoin custody has become a major stumbling block in the cryptocurrency’s evolution from a renegade asset to a legitimate investment vehicle. In its January letter outlining concerns for a bitcoin ETF approval, the SEC mentioned custody as a problem area. Per a 1940s act, funds are required to maintain commodities with a custodian approved by the agency. While there are companies that offer custodian services … Continue reading Coinbase’s Plan To Secure Customer Bitcoin
The number of bitcoin shorts has skyrocketed over the labor day weekend. According to Forbes contributor Billy Bambrough, a short position for 10,000 bitcoin was opened over the weekend. Another report claims that bitcoin shorts surged to $87 million during the same time period. BitMEX, a China-based platform for bitcoin trading, also claims that bitcoin shorts on its platform have skyrocketed. This is a significant … Continue reading What Does The Increase In Bitcoin Shorts Mean For Its Price?