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Beware Cryptocurrency Gold Rush Mentality

Beware Cryptocurrency Gold Rush Mentality On one hand, it's hard for many investors not to be excited about the meteoric rise of cryptocurrencies in the past few months. Bitcoin has roughly tripled in value since the beginning of the year, Ethereum is up by about 40 times, and Ripple, one of the newest arrivals on the scene, gained a shocking 3800%. What's more, the total market cap for the cryptocurrency industry has been steadily increasing as well, and more and…

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IMF Urges Banks to Invest In Cryptocurrencies

IMF Urges Banks to Invest In Cryptocurrencies   A June 2017 staff discussion note from the International Monetary Fund (IMF) suggests that banks should consider investing in cryptocurrencies more seriously than they have in the past. According to the IMF staff team responsible for the note, including prominent economists such as Dong He, Ross Leckow, and Vikram Haksar, "rapid advances in digital technology are transforming the financial services landscape." These members of the IMF feel that such transformations generate new…

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Why Just Holding Cryptocurrency Will Change the World

Why Just Holding Cryptocurrency Will Change the World   Cryptocurrency, digital assets run by blockchain distributed ledger technology, have some pretty revolutionary features and use cases. They can cheaply and permanently send wealth faster than anything else. They can cryptographically prove your identity. They can run self-executing smart contracts instead of relying on an enforcement mechanism when people don’t keep to their deals. But what if I told you that one of the most world-changing things about digital currencies is…

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Cryptocurrencies Continue Recovery, Resume 2017’s Growth Trend

Cryptocurrencies Continue Recovery, Resume 2017’s Growth Trend Cryptocurrencies continued their recovery from last week’s massive price fallout, resuming the upward trend that has characterized 2017. All but 12 of the top 100 cryptocurrenices posted gains in the last 24-hour period.   Market leaders bitcoin and Ethereum had the smallest gains the last 24-hour period, with the former adding 0.88 points and the latter 1.15 points and market caps of $45 billion and 31.7 billion, respectively. Bitcoin’s price reached $2,760.61, attempting…

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Cryptocurrency: How We Hook the Masses

Cryptocurrency: How We Hook the Masses In this opinion piece, Svinkin argues that using cryptocurrencies for rewards schemes can demonstrate the value of the technology and ultimately help bring mass adoption. Before the hype and before the price explosions of the past year, I sat down and looked at cryptocurrencies from a UX perspective. That post, published on CoinDesk, offered a simple central premise: the entire bitcoin project was envisioned, designed, built and released as a peer-to-peer value exchange system.…

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Bitcoin Will Make Lots of Millionaires Before “Returning Down to Earth”: Economics Professor

 Bitcoin Will Make Lots of Millionaires Before “Returning Down to Earth”: Economics Professor   Despite its price volatility, Bitcoin is likely to make more millionaires. Panos Mourdoukoutas, chair of the department of economics at LIU Post in New York City, whose works are published by Forbes and The New York Times, thinks Bitcoin is likely to turn more individuals into millionaires before its price dives again. Bitcoin recently reached an all-time high of $3,000 this June after a huge…

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Move Over Bitcoin, These 4 Cryptocurrencies are Making Their Mark

Move Over Bitcoin, These 4 Cryptocurrencies are Making Their Mark   Just a few years ago if you thought of cryptocurrency you thought of Bitcoin and Bitcoin only. Bitcoin was propelled into the limelight back in 2013. Around that time The Silk Road was taken down and the U.S. government confiscated hundreds of millions of dollars worth of Bitcoin. Back then, cryptocurrency and Bitcoin was more of an underground thing used mostly for dodgy purposes. But today, the tech and…

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Billion Dollar Cryptocurrency Club Swells to Six Members

Billion Dollar Cryptocurrency Club Swells to Six Members Bitcoin’s market cap surpassed $37 billion today when the price hit $2271.16, commanding more than a billion in trade volume in a 24-hour period, according to coinmarket.com. The total value of the coin market is now at $81.3 billion, as the last two days added more than $10 billion to the capitalization. Bitcoin’s value has almost doubled in the last month, even while its market share has fallen below 50%, thanks to…

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Cryptocurrency Inflation V Deflation

Cryptocurrency Inflation v Deflation   In the world of cryptocurrency, there are two main types of ecosystems. Either a cryptocurrency is inflationary – with new coins generated by mining or staking – or it is deflationary. A lot of people claim bitcoin’s deflationary status is a problem, and how minor inflation could alleviate these concerns. However, there are different aspects of either concept that need to be taken into account first.   1. DEFLATION   Most cryptocurrency enthusiasts are well…

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