Month: November 2017

South Korea’s prime minister is reportedly raising alarms about cryptocurrency’s influence on young people as regulators draw up rules for the country’s exchanges. “There are cases in which young Koreans including students are jumping in to make quick money and virtual currencies are used in illegal activities like drug dealing or multi-level marketing for frauds,” Prime Minister Lee Nak-yeon said in a statement translated from Korean by CNBC. He added: “This can lead to serious distortion or social pathological phenomena, if Read more …

Bitcoin surpassed $10K yesterday. To many, the event was a mark of Bitcoin’s accomplishments. But yet, others are concerned that bitcoin has become too speculative, and a pop in the bubble could be damaging.   Introduced in 2009, bitcoin sort of flew under most people’s radars for several years, until 2012, when it became associated with Silk Road, the now-defunct dark marketplace. This year the decentralized currency captured widestream attention, skyrocketing from $1,000 in February to where it sits today. Some, Read more …

Ethereum has reached $500 for the first time on the strength of future plans and Indian markets opening up trading. Data from cross-exchange resource Coinmarketcap shows ETH currently trading around $525 at press time, topping new highs of $400 seen just six days ago. The moves echo those of Bitcoin, which has added proportionately similar gains in a similar timeframe, and increased by $1000 in the past 24 hours alone. Co-founder Vitalik Buterin had unveiled the ecosystem’s roadmap at a Read more …

The initial coin offering (ICO) community needs to embrace self-regulation now to lessen the blows likely to come from enforcement and regulatory actions, according to speakers at CoinDesk’s Consensus: Invest yesterday. A crackdown in the U.S. is inevitable, perhaps as soon as six to 12 months from now, warned Charles Hoskinson, CEO at Input Output and former CEO of the ethereum project. This will likely occur once unsophisticated retail investors start to lose money in the space and run to the Read more …

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Adam White, vice president of Coinbase Inc., tried to offer some perspective amidst the numerous claims about bitcoin being a bubble amidst the cryptocurrency breaking the $10,000 price point. White told Emily Chang of Bloomberg that he disputes the contention that bitcoin is a bubble, although he acknowledged that the price is an easy metric for people to attack. He said the price is only one important Read more …

With all eyes looking at the charts and wondering when Bitcoin will ever stop its upward march over ten thousand dollars, many overlook what is actually involved in creating one. According to reports, the popularity of Bitcoin has created a global surge in energy consumption. Digiconomist’s Bitcoin Consumption Index claims that the current estimated annual electricity consumption is over 30 TWh. A TeraWatt hour is a pretty big number and equates to 1012 (1 followed by 12 zeros) watts per Read more …

Tokenbox team is happy to announce that the tokensale has finally come to an end, and the results are undeniably satisfying and quite promising. During the pre-sale and TGE, which took precisely 2 weeks, the project managed to raise a substantial sum of $7,334,268. The entire amount was collected for 1593 transactions. The geographical spread of TBX tokens buyers was really broad. The leading country in terms of volume of investment was South Korea. TBX token is about to enter Read more …

After establishing an all-time high near 11,300-fiat mark, Bitcoin price dubiously ditched the uptrend and fell towards lower 9000s on Wednesday night. It is not a normal price action, to be honest. But going by the history of Bitcoin market, the aforementioned relapse doesn’t surprise. Bitcoin has always expressed exaggerated upside-downside price actions in the past, but the trend overall has remained bullish. Only this year, the price of one Bitcoin has jumped 858%. Many Wall Street professionals have refuted Read more …

The price of bitcoin fell more than $1,000 in the span of about 10 minutes on the CoinDesk Bitcoin Price Index (BPI) today, just hours after the cryptocurrency set an all-time high above $11,000. Beginning about 19:20 UTC, sell orders began piling up on exchanges in what was perhaps one of the market’s most impressive successions of red candles in some time. After showing signs of stability above $10,000 at 18:30 UTC, the price hit a low of $9,290 at 19:30. Read more …