Tag Archives: bitcoin

Bad News Day for Bitcoin: It’s Destroying the World and Bank Accounts | Entrepreneur

Even though cryptocurrencies technically have no physical presence, they really do a make a impact on the environment — and even could affect the amount of money people have in their accounts.

From January 2016 to June 2018, the Oak Ridge Institute for Science and Education in Cincinnati monitored how much energy it took to mine Bitcoin, Ethereum, Litecoin and Monero on a daily basis.

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Crypto Market is Crashing Hard Again, Here’s Why | Mashable

The cryptocurrency market is bleeding for the second consecutive day, with prices of most popular coins down double digits in the last 24 hours.

Bitcoin, the largest cryptocurrency by market cap, is down 12.4% in this period according to CoinMarketCap and is currently trading at $6,426. Other coins are having it even worse: Ethereum is down 20.5%, Ripple is down 13.3%, Bitcoin Cash is down 20.1% and EOS is down 22.3%.

For Ethereum, the second largest coin by market cap, this is the low point of the year. The cryptocurrency hasn’t been priced this low since August 2017.

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Bitcoin price passes $7K bringing all 100 top coins up with it | TechCrunch

Bitcoin is moving up, and it’s taking 99 of its best friends along for the ride. In the last 24 hours, every one of the top 100 coins by market cap was in the green, with 84 of them posting gains of over 5 percent. At the time of writing, Bitcoin was sitting at $7,310, up 14 percent in the last 7 days and up almost 10 percent in the last 24 hours.

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Bitcoin split in two, here’s what that means | CNN Money

All eyes were on bitcoin on Tuesday as the digital currency split in two.

After ongoing debates over how to scale the digital currency called bitcoin, some people have decided to make an entirely new currency called Bitcoin Cash.

It’s a bit complicated for those who aren’t in the bitcoin weeds. Essentially, political, technological, and ideological debates about growing bitcoin have come to a head. And some say that an entirely new currency called Bitcoin Cash could help scale bitcoin and bring it to the masses.

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It’s not just Bitcoin anymore… | BBC News

The price of Bitcoin, a digital currency once located at the fringe of finance, has been rising to new records in recent months as digital assets move into the mainstream.

On Tuesday, it shot past $2,200 (£1,700), more than doubling from just two months ago. And a newer currency, Ethereum, has climbed even faster.

Industry members say uncertainty surrounding the value of global currencies, including the pound, is driving demand for alternative currencies.

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Four Fundamental Problems Bitcoin Startups are Attempting to Address | CoolBusinessIdeas.com

Cryptocurrency sounds suspicious just by moniker. Cryptography is like a more imposing form of the word “security”, and cryptocurrency can be difficult to wrap one’s mind around. It’s an exciting and volatile new form of currency that has millennials asking themselves whether it’s time to invest.

Banks and venture capitalists don’t like uncertainty, so why is Goldman Sachs rapidly investing in Bitcoin related startups and business ventures? The answer is to stay ahead of the emerging trend (even the IRS is saying Bitcoins are taxable). Cryptocurrency is a very real phenomenon that is starting to show itself in our everyday lives. There are strong odds that you’ve shopped somewhere this week that will accept Bitcoin as a source of payment. That snowball effect has given away to some interesting startups trying to solve fundamental problems related to currency.

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High-Speed Traders Are Taking Over Bitcoin | Bloomberg

Zhou Shuoji is not a bitcoin believer. He says the cryptocurrency will never replace its traditional forebears, and he calls most of its proponents fanatics.

But for Zhou, a 35-year-old high-speed trader in Beijing, bitcoin is also too good to resist. His computers trade it 24 hours a day, seven days a week. Using lightning quick orders, they profit from tiny price discrepancies on the myriad venues where it changes hands.

“It’s the golden age to be in the bitcoin market, because it’s imperfect,” said Zhou, a former IBM technology consultant whose firm, Fintech Blockchain Group, runs a bitcoin hedge fund and venture capital fund.

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China is behind the latest bitcoin craze | Business Insider

Bitcoin had a great 2016. The cryptocurrency rallied 120% to $952, threatening to break the $1,000 mark for the first time. While bitcoin has seen a consistent bid throughout the year, its 57% gain (in US dollar terms) over the past three months has been particularly impressive.

So what’s behind the move?

China.

In his latest edition of “Greed & Fear,” CLSA’s Christopher Wood notes, “Daily turnover in Shanghai-based BTC China, the world’s largest bitcoin exchange by volume, has risen from around Rmb1bn in late September to a peak of Rmb27.8bn on 22 December and Rmb16.4bn on Wednesday (see Figure 11) while the Bitcoin price has risen by 70% over the past three months to Rmb6,927.”

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Building a Cool Business with Bitcoin: Three of the Best Bitcoin Business Ideas | CoolBusinessIdeas.com

Take a monetary system that exists but doesn’t really exist, add in a few creative tech types and let their imaginations run wild and what do you get? Yes, you’ve guessed it: some cool business ideas. Bitcoin may have come into existence only in 2009, but as we head into 2017 it’s starting to become a mainstream hit to some interesting and innovative ideas.

For those who don’t know, Bitcoin is basically a virtual currency that’s created online, transferred and spent online and, importantly, has no physical form. Made by computers in a network using a process known as mining, Bitcoin isn’t controlled by any government and, in essence, is the perfect Internet currency.

With Bitcoin opening up new ways for people to pay online, it’s little wonder that you can now get slicker, cheaper and better services in the virtual arena. In fact, when you take a look at the following business ideas, you’ll see why Bitcoin is now fueling the next stage of the digital revolution.

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The Bitcoin Revolution is Coming | Getentrepreneurial.com

How can unrelated parties negotiate securely and transparently without having to rely on expensive intermediaries? Some programmers believe that bitcoin is the answer to that question and that it will revolutionize the way we do business.

What started as a nine page proposal in the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto (whose true identity remains unknown), has now become the way that more than 200,000 transactions per day are done. The rising popularity of bitcoin has caused markets and financial institutions to invest in the development of products based on this revolutionizing technology.

To understand what the buzz over bitcoin is all about and how to make the most of it, we need to become familiar with the concepts of bitcoin and blockchain, the opportunities that they are creating, and the approach that regulators are taking.

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