2018 looks to be a great year for cryptocurrencies and blockchain technology. There are events on all over the globe discussing the latest trends–with exciting new startups, ICO’s, and blockchain disruption being just a few of the topics featured. We have picked ten of the hottest cryptocurrency and blockchain events happening this year and brought them to you.
If analysis is the body, data is the soul.
In our project of stock market analysis based on Twitter sentiments, we selected a few sample companies. We decided what we needed but we still had to cast some spells to get to the core data.
As much as we dream about attending Hogwarts, we can’t simply say ‘Accio’ to make the data come to us. The computer generally doesn’t understand the spells of the wizarding world yet. So, we will just go create some of our own spells using Python.
Now that choice of language has been made, let’s dive into coding. To get the data, I need an API which can provide me with reliable data of NASDAQ. With numerous searches on Google, I found one named ‘Alpha Vantage’. It provides simple, easy to use API to retrieve around last 10 days of per minute data. Good enough to go ahead with it.
Now, with this API, either I can just simply download the JSON file everyday by making changes to the API call or I can simply write some code to get me the real-time data. Downloading it every day is one way but I chose the later one.
Bitcoin’s spot price was slumping on Tuesday, touching a six-week low below $11,000, as the biggest cryptocurrencies came under pressure across the board.
The selloff follows reports that South Korean Finance Minister Kim Dong-yeon said banning trading in virtual currencies was “a live option.” That has added to ongoing worries about a potential crackdown in what’s considered the world’s third-largest crypto trading market.
Cryptocurrency might be gaining mainstream appeal, but much like other new technologies, the average person isn’t aware of the all the risks involved. Most aren’t…
The cryptocurrency market has begun to recover after the South Korean cryptocurrency trading ban controversy led the market valuation of cryptocurrencies to fall by more than $100 billion.
Cryptocurrency Market Starting to Recover
Almost immediately after the South Korea Ministry of Justice revealed its plans to continue drafting a cryptocurrency trading ban bill, the price of almost all cryptocurrencies in the global market plunged in value. Merely hours later, the South Korea Ministry of Strategy and Finance publicly stated that it does not support and agree with the cryptocurrency trading ban proposal by the Ministry of Justice.
Despite bitcoin’s growing credibility among individual and institutional investors, the cryptocurrency’s skyrocketing price is causing some concern.
Investors and speculators are biting into bitcoin — in a big way. The price of the cryptocurrency surged by nearly 1,900% in 2017, to an average high of $19,499 on December 15 across major bitcoin exchanges, before plunging down to just over $13,000 a week later, according to blockchain.info. The ascent is striking especially since bitcoin emerged just eight years ago, the creation of a mysterious person or group of people named Satoshi Nakamoto. In 2009, bitcoin was worth zero.
Bitcoin’s popularity persists even though it has no intrinsic value per se. It is not backed by gold or physical assets, nor does it pay interest or dividends. Bitcoin cannot be used as money in most places. That’s why its skyrocketing price is causing concern. Fed Chair Janet Yellen called bitcoin a “highly speculative asset”; JPMorgan Chase CEO Jamie Dimon said it was a “fraud”; billionaire Warren Buffett called it a “mirage,” while Vanguard founder, Jack Bogle, told investors to “avoid bitcoin like the plague.”
“There has been a lot of hype and excitement, and that clearly has driven the price possibly away from the real utility value of the network and much more into the speculative realm,” said Christian Catalini, a professor of technological innovation, entrepreneurship and strategic management at MIT, on the [email protected] show on SiriusXM channel 111. “The floor value of bitcoin is zero. Bitcoin only has value because people believe and agree it has value.”
Much of bitcoin’s stratospheric rise was achieved last year. For years, bitcoin traded in a much lower range due to its novelty, a spate of negative news such as the 2014 hacking of the now-defunct Mt. Gox bitcoin exchange, and early link to criminal activities (Silk Road). Those same concerns are still around — a South Korean digital currency exchange recently closed down after suffering its second cyberattack. However, bitcoin’s adoption by major institutions gives it a sheen of market credibility.
“Celsius, a blockchain powered lending and borrowing platform, just announced that it aims to replace big banks and futures exchanges, like the CME and CBOT, with crypto coin holders who will earn returns through lending. Using its platform, which will launch in Q1 2018, Celsius members can easily borrow coins at significantly reduced rates compared to traditional financial institutions, while lenders can earn automatic interest by holding coins in the Celsius Wallet.
Dubbed as “The Wallet That Pays Back”, registrants who deposit coins into the Celsius Wallet will receive up to 7% per year on loaned coins.
The altcoin market has grown significantly throughout 2017. With more than $333 billion in market capitalization for all cryptocurrencies & ICO’s (Excluding Bitcoin) as of December…
Japan’s Mitsubishi UFJ Trust and Banking is preparing to launch a service that will protect cryptocurrency holders if the exchanges they use shut down or are hacked, reports Japan-based online publication Nikkei Asian Review.
The banking giant will keep matching records from cryptocurrency exchanges of customers who opt-in for the scheme. In the event the exchange fails or is compromised, Mitsubishi UFJ will compensate its clients for their losses according to the records they maintain.
Nikkei reports that the service will start with Bitcoin trading and could launch as early as April. Crypto exchange users who opt-in to have their funds protected by the Mitsubishi UFJ will be charged a fee for the service.
However, as CEO of Tokyo-based exchange Bitbank Noriyuki Hirosue asserts, the extra fee may be an easy price to pay for those who prefer to trust traditional financial institutions:
Sourced through Scoop.it from: www.youtube.com