cryptocurrency news

XRP, NEO, Monero, IOTA: Can One of the New Kids on the Block Dislodge Bitcoin? – The Market Mogul

It is instinctive to associate the rapidly surging market of cryptocurrencies with Bitcoin – the most valuable currency in the cryptosphere and one that has been in the spotlight of financial media over the last 12 months.

Indeed, despite Bitcoin’s meteoric price rise, other cryptocurrencies have also skyrocketed – at rates faster than Bitcoin. Facing trading restrictions and bans from other countries – as well as having frustratingly high transaction fees and low processing times – there is a chance that another newer cryptocurrency may seriously rival Bitcoin this year.


Telegram plans $1.2bn ICO to create native cryptocurrency

Popular secure messaging app Telegram looks set to enter the cryptocurrency space, with plans underway for a major ICO.

The company is planning to raise $1.2bn in total, first with a $600m pre-sale restricted to venture capital backers and close investors, according to TechCrunch. This will be running from January to February on an invitation-only basis. Following the private pre-sale, Telegram is said to be planning a public sale in March, which will allow retail investors to enter. This sale aims to raise a further $600m.




PBoC Official Calls for Wider Ban on Chinese Crypto Trading: Report – CoinDesk

A senior official at the People’s Bank of China is reportedly calling for a wider ban on services related to cryptocurrency trading in the country.

Pan Gongsheng, vice governor of the central bank, said, to prevent market risk, the government would apply more strict regulation to end all cryptocurrency trading-related activities and services. The news comes via a Reuters report today, citing an internal memo reviewed by the news agency.

While it’s not yet clear whether the reported memo will become immediate policy, the news indicates the continuing severe stance taken by China’s top regulators towards curbing cryptocurrency speculation and lowering perceived financial risk in the country.

According to the report, Pan said in the memo that a wider ban should extend to services and activities including individual or institutional market-makers, centralized trading platforms, guarantors, or settlement providers like online cryptocurrency wallets.


Kodak unveiled its own bitcoin miner at CES, will let you rent it for $3,400 for two years

If you thought Kodak news couldn’t get any stranger following the company’s debut of a “photo-centric cryptocurrency” called KODAKCoin earlier this week… you were wrong. In a further attempt to cash in on the cryptocurrency mania currently spreading across the world, Kodak has debuted its own bitcoin mining machine at CES.

The bitcoin miner is called the Kodak KashMiner, and you can rent it for just $3,400 and keep a share of the profits you make mining bitcoin for the next 2 years.

We’ll give you a moment to let the absurdity of those last few sentences soak in before we attempt to put this madness in context.


Cryptocurrency This Week: As Reliance Jio Plans To Launch JioCoin , KFC Announces Bitcoin Bucket And More

As we have stepped into 2018, despite a dream run in 2017, everyone appears to be sceptical about the future of Bitcoin and other cryptocurrencies in 2018. From the dark web of the cryptocurrency sources, mining, money laundering and investments to the glorious future of its benchmark technology i.e. blockchain that every organisation and government authorities are looking forward to, Bitcoin is caught in dichotomies at several levels.

As India and China have cracked down on cryptocurrencies, ‘Virtual Currency girls’ have raised the Bitcoin curiosity with their latest song “The Moon and Virtual Currencies and Me” humming with the lyrics that says, “It’s hell if you buy at a high price!…Don’t underestimate the market!”


The biggest cryptocurrency scam in the world

Cryptocurrencies are mostly unregulated at the moment, with vaporware projects competing against revolutionary technologies like Bitcoin and Ethereum for investment.

This is evident in the case of BitConnect – which is the 25th biggest cryptocurrency in the world and has a market capitalisation of over $2 billion.

The cryptocurrency was found to be engaging in fraud and the company behind the currency has been served a Cease and Desist order by the Texas State Securities Board.

The emergency cease and desist order was issued on 4 January and states that BitConnect is engaging in fraud and misleading investors.


No, Ripple isn’t the next Bitcoin

Not all cryptocurrencies are created equal. Don’t tell that to investors in XRP, though. In the last month the currency owned by Ripple, a company that bills itself as using blockchain technology to build the payment system of the future, soared in price by a whopping 700 percent. XRP’s overall value pushed up to nearly $150 billion and briefly made Chris Larsen, Ripple’s cofounder, one of the richest people on the planet.

This piece first appeared in our new twice-weekly newsletter, Chain Letter, which covers the world of blockchain and cryptocurrencies. Sign up here – it’s free!

The exuberance was fueled, at least in part, by a belief that anyone buying up XRP was getting in on the next Bitcoin. But for some it could end up as a very expensive lesson that what they bought into is a different animal altogether.


Will Cryptocurrencies Be the Art Market’s Next Big Thing?

LONDON — There’s a new gold rush. But this precious metal doesn’t actually exist.

The frenzy is for so-called cryptocurrencies — or encrypted digital money — and their value skyrocketed in 2017. The price of Bitcoin, the pioneer decentralized virtual currency, rose more than 1,300 percent last year, despite plunging 40 percent at one point in December. A Bitcoin rival, Ether, was up 8,000 percent. It is thought that the total worldwide value of cryptocurrencies could reach $1 trillion this year.

Bitcoin and its derivatives have, for the moment, proved too volatile and unwieldy for day-to-day transactions. Yet the cryptocurrency model, underpinned by decentralized blockchain ledger technology, is increasingly becoming a force in more specialized areas of the economy. The art world is one of them.