Tag Archives: crypto currency

Bitcoin Isn’t the World’s Most-Used Cryptocurrency

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While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.

Source: Bitcoin Isn’t the World’s Most-Used Cryptocurrency – Bloomberg

Researchers find that one person likely drove Bitcoin from $150 to $1,000

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The bottom line is simple: if Bitcoin wants to be taken seriously it probably shouldn’t be this easy or legal to manipulate the markets. While decentralization is supposed to replace regulation it’s clear that there is still a way to go before it can be truly taken seriously.

Source: Researchers find that one person likely drove Bitcoin from $150 to $1,000 | TechCrunch

Bitcoin Miners Are Shifting Outside China Amid State Clampdown

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Bitmain, which runs China’s two largest bitcoin-mining collectives, is setting up regional headquarters in Singapore and now has mining operations in the U.S. and Canada, Wu Jihan, the company’s co-founder, said in an interview. BTC.Top, the third-biggest mining pool, is opening a facility in Canada and ViaBTC, ranked No. 4, has operations in Iceland and America, their founders said.

Source: Bitcoin Miners Are Shifting Outside China Amid State Clampdown – Bloomberg

More news on Bitcoin today.

From:  Microsoft Halts Bitcoin Transactions Because It’s An “Unstable Currency

While Bitcoin price has always fluctuated, it never swung like it did in the past three months. To be widely adopted by the financial sector, a digital or fiat currency must be stable in order to be useful, something that Bitcoin is definitely not.

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4 Million Bitcoins Gone Forever Study Says

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According to new research from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, 3.79 million bitcoins are already gone for good based on a high estimate—and 2.78 million based on a low one. Those numbers imply 17% to 23% of existing bitcoins, which are today worth around $8,500 each, are lost.

Source: Lost Bitcoins: 4 Million Bitcoins Gone Forever Study Says | Fortune

In the future, more bitcoins will be lost. But the rate at which they disappear will be much lower than in the past since, now that they’re so valuable, people will be more vigilant about keeping track of them (unlike this poor fellow out who threw away a hard drive with the key to 7,500 bitcoins).

China orders bitcoin exchanges to shut down

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Bitcoin is created and exchanged without the involvement of banks or governments. Transactions allow anonymity, which has made bitcoin popular with people who want to conceal their activity. Bitcoin can be converted to cash when deposited into accounts at prices set in online trading.

Source: Reports: China orders bitcoin exchanges to shut down – ABC News

Move Over, Bitcoin. Ether Is the Digital Currency of the Moment.

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In a recent survey of 1,100 virtual currency users, 94 percent were positive about the state of Ethereum, while only 49 percent were positive about Bitcoin, the industry publication CoinDesk said this month.

Source: Move Over, Bitcoin. Ether Is the Digital Currency of the Moment. – The New York Times

Investors buying Ether are placing a bet that people will want to use the Ethereum network’s computing capabilities and will need the currency to do so. But that is far from a sure thing. And real-world use of the network is still scant.

Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin’s

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Beyond the price spike, Ethereum is also attracting attention from giants in finance and technology, like JPMorgan Chase, Microsoft and IBM, which have described it as a sort of Bitcoin 2.0.

Source: Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin’s – The New York Times

The system is complicated enough that even people who know it well have trouble describing it in plain English.

Nine of world’s biggest banks join to form blockchain partnership

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Rutter said the initial focus would be to agree on an underlying architecture, but it had not yet been decided whether that would be underpinned by bitcoin’s blockchain or another one, such as one being built by Ethereum, which offers more features than the original bitcoin technology.

Once that had been agreed on, Rutter said, the first use of the technology might be the issuance of commercial paper on the blockchain.

Source: Nine of world’s biggest banks join to form blockchain partnership | Reuters