Month: November 2017

Ripple’s price surge has moderated this week, but all signs are pointing to a sharp acceleration in demand as hedge funds and institutional traders pivot toward cryptocurrency. And as we all know, the XRP token has favorable characteristics that could resonate within institutional circles. XRP/USD Price Levels The XRP/USD was in consolidation mode Friday after a volatile week. Between Tuesday and Thursday, prices fell more than 20% to reach their lowest levels in two weeks. Price action was relatively calm Read more …

Commercial banks need to develop faster payment systems to counter the rise of cryptocurrencies, according to one European Central Bank executive. Yves Mersch, who sits on the ECB’s executive board, made the argument even while dismissing the impact of cryptocurrencies during an event in Rome, according to a Reuters report. Speaking this morning, Mersch said: “Banks need to implement instant payments as soon as possible and provide an alternative narrative to the ongoing public debate on the alleged innovation brought Read more …

Energy costs vary so much across the globe that mining can either be super profitable, or a total waste of time. On top of that, the primary energy that is being used, especially when it comes to cheap energy, is dirty. Moreso, there are issues when it comes to harvesting that electricity, and additional tariffs to pay for mining operations, cutting down already slim profit margins. Those who are also in the business already are almost re-centralizing the decentralized mining Read more …

It appears when perusing CoinMarketCap that the biggest competition for Bitcoin would be number two – Ethereum. However, according to the Motley Fool, the biggest risk for Bitcoin may actually come from somewhat lower – Litecoin. Litecoin was created by Charlie Lee in 2011 and uses similar protocols as Bitcoin. According to the analysis, Bitcoin and Ethereum are really after completely different marketplaces. Bitcoin is really designed as a currency and store of value protocol built on consensus, while Ethereum is more of a Read more …

Bank of England Deputy Governor, Sir Jon Cunliffe, has claimed that the leading cryptocurrency Bitcoin poses no real threat to the global economy and financial institutions despite its current phenomenal performance in the market. The most famous digital currency has recently surpassed the $11,000 level as of late November 2017. In an interview with BBC Radio 5 Live, Cunliffe reasoned out that Bitcoin was too small to present any threat to the worldwide economy. He added that investors should do Read more …

Turkey has claimed Bitcoin is in fact “not compatible” with Islam due to its government being unable to control it. In a statement from a meeting of the state Directorate of Religious Affairs (Diyanet), lawmakers said that Bitcoin’s “speculative” nature meant that buying and selling it was inappropriate for Muslims. “Buying and selling virtual currencies is not compatible with religion at this time because of the fact that their valuation is open to speculation. They can be easily used in Read more …

When Bitcoin is down, the Bearish come out and berate the bubble-linked digital currency. Then, when things turn around, the Bulls stampede out the gates and proffer their emotional reasoning of how this is the money revolution. All in all, it can be quite hard to find a learned and practical opinion, but Daniele Bianchi, an assistant professor of Finance of Warwick Business School, has given his thoughts on the recent rally and why it has happened. A lot of thought and Read more …

Lisk cryptocurrency has quietly put together a stellar month, with prices enjoying bitcoin-level growth en route to new highs. The little-known coin maxed out above $10.50 earlier this month before paring back gains in the final week. Just a few months ago, it was trading pennies on the dollar. LSK Price Levels The value of List was down nearly 6% on Thursday to $7.49 U.S., according to CoinMarketCap. The cryptocurrency turned over more than $37 million in the last 24 Read more …

Cryptocurrency exchange Coinbase has been ordered to disclose details of more than 14,000 customers to the U.S. Internal Revenue Service (IRS). Following a lengthy legal battle between the two entities, the San-Francisco district court ruled Tuesday that Coinbase must hand over user accounts at the exchange that bought, sold, sent or received sums of $20,000 and higher between 2013 and 2015. Coinbase must now provide the tax agency with the name, address, taxpayer identification numbers and date of birth of customers Read more …

With Bitcoin recently reaching a high water mark of an all-time high of $11,500, it’s inevitable that relatives will start asking questions. tried to convince parents to buy me bitcoin in 2010, they laughed at me and i never got bitcoin because of it. — EvolaKid ? (@EvolaKid) November 29, 2017 When your parents ask questions, it somehow ends up either they don’t agree with your idea or relate it to their younger years. Of course, that’s not a problem, Read more …

Business innovation has long been a key element of civic progress. In more recent time, technology has served as a major contributor to local economic development.   In fact, the Austrian-born American economist and political scientist, Joseph Schumpeter, argued that technological progress is the sole determinant of economic progress. What Schumpeter referred to as “creative destruction” has been pivotal for rapid economic expansion in less developed communities throughout the world. One technology company that epitomizes this confluence between local growth Read more …

Cryptocurrencies have taken the world by storm in the past few years and that has led to larger countries like Russia and China imposing bans on their trade. While those superpowers flex their muscles to the detriment of various virtual currencies, emerging markets are starting to catch on to the wave and their governments and financial institutions seem slow on the uptake. As a relatively young democracy, South Africa is one of those countries. Ongoing political dramas have hammered the South African Read more …