The Best Cryptocurrency Analysis Sites To Get(2017)
Nowadays, a lot of people have heard about cryptocurrency. It’s unique in that you can use it for any local currency without having to first pre-sell your precious metals holding before using it. When payments are processed at the point of sale, the exchange rate for local currency vs allocated gold or silver is automatically calculated and the equivalent amount of bullion is debited from your e-wallet account.
Then this Thursday Dimon was recorded by the news outlet CNBC saying, I wouldn’t put this high on the category of important things in the world, but I’m not going to talk about bitcoin anymore.” Then Marianne Lake JP Morgan’s CFO said, we are open-minded for digital currencies that are properly controlled and regulated.” However, according to CNBC after these statements the very next day at the Institute of International Finance conference, Dimon had some choice words for bitcoin investors.
Bithumb, notable for being one of the largest cryptocurrency exchanges in the world, was severely compromised on June 29 The South Korean-based platform is also known as a leading exchange for ether, the currency of Ethereum (which in itself is immensely popular in the country ). Local media reported that an employee of the company was hacked , and the personal information of upwards of 31,000 customers was stolen, including cellphone numbers and email.
This could potentially introduce another 450 million users to Kakao’s services across the globe The link to the Korean service may be especially enticing to Alibaba’s Chinese customers, as the Chinese government recently announced plans to disband all domestic cryptocurrency exchanges with an aggressive timeline.
To understand trading, you first need to understand the anatomy of a Market Cycle and the Crash Cycle, so that you can identify a pump before it happens, and know when the party has ended, so that you can potentially profit from it. Another important concept is Market Structure, and being able to identify the price action and patterns that are unique to each of the various phases of trading, including accumulation, distribution, markup, markdown, breakout, consolidation, retracements, corrections, etc.
The problem with this is that just about everyone else investing in these things is thinking the same thing, and everyone involved is effectively playing the greater fool theory , expecting that they will be smarter than everyone else and be able to time the market better than everyone else, and get out before everyone else does, and before the price eventually collapses.
Of course, like Bitcoin, the value of any altcoin is equal only to how much someone will pay you for it. Some altcoins, such as Litecoin, Peercoin, and even Dogecoin have active communities and economies—you can view a list of altcoins sorted by market cap here —but currently none are even a tenth as valuable as Bitcoins.
(Since then, the value of a single Bitcoin has reach a high of more than $4,300) Part of Bitcoin’s secret sauce is its consensus mechanism, which allows people to agree on a canonical order of transactions, thereby preventing double-spending and fraud, through a combination of cryptography and economic incentives based on game theory—all without needing a third party or middleman, like a bank.
More seriously, the purpose of this exercise was to show that the fans of cryptocurrencies as a solution to anything who see nothing wrong about the chaotic growth of the “value” are just communists who don’t distinguish – and don’t want to distinguish – someone’s being wealthy from his being poor in the real terms.
The app developers also accept feedback and suggestions on their official website and have confirmed that support for Ether and other digital currencies are in the pipeline as is support for the Xbox One which would make it the first gaming console to officially mine a cryptocurrency and could be great PR for it due to the rising interest in Bitcoin.
The assets to protect from the coming storm cannot be pure stock market instruments, because in a world crisis there are bound to be restrictions on stock-market trading and introduction of harsher currency regulation (during the Great Depression short-term stock trading was forbidden in the U.S. and trade in gold was subjected to limitations and reforming.
And the bridge” that the Blackmoon project is attempting to create from the cryptocurrency markets to the traditional financial markets could be thought of as a way to ensure that the traditional financial markets are preserved and not upset by the rise of cryptocurrency, or in other words a way to bring some money and control back from the cryptocurrency world to the traditional financial world.
In 2014, the European Banking Authority defined virtual currency as “a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency , but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically”.