Why Venezuela’s New National Cryptocurrency El Petro Will Fail
Washington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a region […]
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Ponzi lending smart bot scam Bitconnect finally did what most sane observers predicted long, long ago. It went splat. And it didn’t collapse due to government pressure, nor flurries of bad press, and certainly not from DDoS hacking attacks. The story is more of a ballad, a great object lesson, and it is the lie […]
Virginia Beach, Virginia isn’t exactly known as a hotbed of bitcoin mining activity, but that appears to be changing, and soon. A local company has sunk 65 million USD into a giant facility, as the resort town attempts to become a hub for data centers. Also read: Have Lunch with Bitcoin Jesus in Paradise 65 Million […]
Chicago Board Option Exchange (Cboe) historic bitcoin futures market has had its first month, and results are decidedly mixed depending on the analyst. Some see the experiment as a dud, while others champion the mainstreaming of cryptocurrency. So far, bears are trouncing bulls. Also read: Have Lunch with Bitcoin Jesus! Cboe Futures Didn’t Tame […]
First, Jamie Dimon of JP Morgan Chase says he regrets calling bitcoin a fraud. Now, legacy bank Goldman Sachs is formally recognizing how cryptocurrencies such as bitcoin could act as global money. 2018 might be shaping up to be the year bitcoin gets more mainstream than ever. Also read: Huge Bitcoin Conference Stops Accepting Bitcoin […]
Jamie Dimon, chair of JP Morgan Chase, was once again asked about his thoughts on bitcoin. In a wide-ranging interview on FOX Business, Mr. Dimon was given a few of his notable quotes back to him, and asked to assess his present feelings. It appears he’s softened a little on the the world’s most popular […]
On this day nine years ago, quietly, bitcoin and its blockchain network were birthed with block zero, the Genesis Block. Without government permission or wealthy backers, it has generated a quarter trillion in value. In combination with the resultant industry it spawned, comprising thousands of alternatives, cryptocurrency is a seven hundred billion dollar market. Nearly […]
The price of bitcoin (BTC) has dropped more than 25 percent in four days, and it looks headed for even worse territory as of this writing. Veterans have braced for its eventuality. However, there are many newly onboarded, and they’re only used to the world’s most popular cryptocurrency dipping slightly in an effort to rise […]
Citing pretext to end all pretexts, “terrorism,” European Union legislators moved Friday, December 15 to impose tighter controls on the world’s most popular cryptocurrency, bitcoin, through trading exchanges and related businesses. Also read: Rise of the Bitcoin Politician: Austin Petersen’s Scrappy Run for US Senate European Union Moves Against Bitcoin The European Union has updated […]
A provocative new app, Bitcoin Bubble Burst, promises to keep its users ahead of what seemingly everyone, at some point, has predicted: the bitcoin apocalypse when prices plummet. Can vaunted artificial intelligence and neural networks produce predictive models useful enough to save fortunes? Also read: Reddit’s /r/btc Reaches 100,000+ Subscribers Predicting a Coming Bubble Burst “The idea […]
