How real is the competition to Bitcoin?
Cryptocurrencies continue to take the world by storm, with values increasing and new products entering the market all the time. While Bitcoin is still the world’s biggest digital currency, it faces serious competition from Ethereum, Bitcoin Cash, and Ripple just to name a few. The rise of cryptocurrencies has been called the biggest evolution of the financial system in history, as decentralised exchanges and blockchain technology continue to change how the world views money. While no-one knows exactly what’s in store for the crypto market for the remainder of 2018, the trending markets seen in 2017 seem to be consolidating into trading ranges across time scales. The entire cryptocurrency market […]
The crypto community isn’t happy with a negative report by the ‘bank for central banks’
The Bank for International Settlements (BIS) has weighed in on the crypto debate, and it was less than positive. The aim of the BIS is to foster global financial stability, and it’s owned by 60 central banks across the world. In that sense, the BIS also describes itself as the bank for central banks. Given that one of the stated aims of crypto is to disrupt the status quo of centrally controlled currencies, it’s perhaps not surprising that the BIS was critical. The report said crypto networks get less efficient the bigger they get. Along with scaling issues, they’re also volatile and subject to stability threats due to forks. […]
Bought Bitcoin? The Tax Office has you in its sights
Unless you are living under a rock, most of us have heard of the term cryptocurrency or, at the very least, Bitcoin. If you haven’t, cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on the blockchain. Not that most of us understand what that means. To most people, Bitcoin and other cryptocurrencies were discussed at dinner tables and over drinks across Australia because they were the new black when it came to surging assets. Suddenly, it wasn’t just Dungeons and Dragons players or underworld types who were dealing in cybercurrency, everyone wanted to […]
Bitcoin futures could be hurting bitcoin’s price
A Wall Street analyst known for his bullish stance on bitcoin has flagged the possibility that bitcoin futures contracts could be hurting the cryptocurrency’s price. Bloomberg reports that Tom Lee, the cofounder of the research firm Fundstrat, said in a note last week that bitcoin futures contracts could be behind bitcoin’s recent “gut-wrenching” price declines. Lee said in his report that there was “significant volatility” in bitcoin’s price around the expiration date of CME Group and Cboe futures contracts. Both CME Group and Cboe launched bitcoin futures products in December, when bitcoin was trading close to record highs of about $US20,000. Bitcoin has tumbled since then. Bitcoin was down 0.35% […]
Bitcoin’s collapse is raising suspicions about price manipulation
Bitcoin extended losses, bringing its four-session slide to as much as 20 per cent, as questions mount about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge. After rallying more than 1,400 per cent in 2017 amid an investor frenzy for digital assets, Bitcoin is down almost 70 per cent to around $US6,325 as of 2:52 a.m. in New York, from its record high of $US19,511 set in December. It traded at a few cents after being launched in 2009. “Things have changed for Bitcoin and the crypto space,” said Craig Erlam, senior market analyst at online trading firm Oanda Corp. in London. “There doesn’t seem […]
Ripple CEO: Bitcoin will eventually stop driving the crypto markets
Coins need start solving real problems, not each other’s problems, to be valued in their own right. If you want to know how your coin’s going, just look at bitcoin prices. When bitcoin goes up, so do all other cryptocurrencies. When bitcoin drops so does everything else. To date the crypto markets have simply tended to swim along as one amorphous blob, with the most distinctive anomalies usually being the result of foul play, accidental failure or deliberate price manipulation. Even as bitcoin’s market dominance waned the effect stayed strong. “There’s a very high correlation between the price of XRP [Ripple] and the price of bitcoin, but ultimately these are […]
Cryptocurrency trading mistakes to avoid in 2018
Crypto trading comes with a load of promises as well as a fair share of disadvantages. Regardless of your level of expertise in the trade, there are some common mistakes that you might want to avoid in 2018. Some of these mistakes are pretty obvious but some are a bit more obscure. By determining the common mistakes you are likely to do, you can be able to analyze them and get more details about possible solutions. It is not common for any trader to identify all the mistakes in the industry unless they are actively keeping track of all their blunders. Here are some common cryptocurrency trading mistakes to avoid […]
Fatfish Internet Group secures new cryptocurrency mining site
The new cryptocurrency mining site is expected to be operational within three months. Fatfish Internet Group Ltd’s (ASX:FFG) 51%-owned APAC Mining Corp has secured a new industrial site in Montreal, Canada, that will be converted to a cryptocurrency mining operation. APAC Mining currently mines Bitcoin, Ethereum, Dashcoin and Litecoin through its mining operations in Malaysia. Mining cryptocurrencies is electricity-intensive and Montreal is located in a hydro-powered state with one of the lowest energy rates in the world. The new Quebec site will have a total energy capacity to power up to 700 cryptocurrency mining servers. APAC plans to secure more sites with the region Fatfish’s CEO Kin Wai Lau said: […]
