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Archive for the ‘cryptocurrencies’ category

Sep 14, 2017

Bad News is Good News for Bitcoin Investors

Posted by in categories: bitcoin, cryptocurrencies, economics

Bitcoin was hit by a double whammy this week. On Tuesday, Jamie Dimon of JP Morgan declared that Bitcoin is a fraud that will “blow up”. Then, just this morning, a Bitcoin exchange in China announced that it would shut its doors in response to verbal pressure from regulators and an uncertain regulatory environment.

Don’t ya just love it when bad news breaks on Bitcoin? I sure do! It creates a buying opportunity. After all, just look at what happened after the last five bouts of bad news:

In each case, the Bitcoin exchange rate dropped—very briefly—and then climbed higher with renewed vigor. Heck it, doubled from $2400 to $4800 in just the past month! But here’s a the real question: Does either bad news events have legs? Does it spell the end of Bitcoin adoption and enthusiasm, at least for now?

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Sep 14, 2017

Silicon Valley’s cryptocurrency boom

Posted by in categories: cryptocurrencies, internet

For the unwary, ICOs represent an even bigger risk, as uncertainty about how they should be regulated means most lack even basic protection of securities laws that governed the dotcom IPOs. As pure digital events, the online fundraisings are also exposed to familiar internet frauds, from phishing scams used to rip off the unwary to the hacking of the underlying software underpinning the new ventures — the fate that befell the first prominent ICO last year, for a company called the DAO.


Flood of initial coin offerings is aimed at bypassing Google and Amazon, but sceptics fear a bubble.

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Sep 6, 2017

Spell it Out: What, exactly, backs Bitcoin?

Posted by in categories: bitcoin, cryptocurrencies, economics

On August 1 2017, the value of a Bitcoin was at $2,750 US dollars. Today, just over one month later, it is poised to leap past $5,000 per unit. With this gain, many people are asking if Bitcoin has any genuine, inherent value. Is it a pyramid scheme? —Or is it simply a house of cards ready to collapse when the wind picks up?

In a past article, I explained that Bitcoin fundamentals ought to place its value in the vicinity of $10,000.* (At the time, it was less than $450, and had even fallen to $220 in the following year).

For many consumers viewing the rising interest in Bitcoin from the stands, there is great mystery surrounding the underlying value. What, if anything, stands behind it? This is a question with a clear and concise answer. In fact, it has a very definitive and believable answer—but it is easiest to understand with just a little bit of historical perspective.

At one time, G7 fiat currencies were backed by a reserve of physical Gold or the pooling or cross-ownership of other currencies that are backed by gold. That ended in 1971 when the Bretton Woods agreement was dissolved by president Richard Nixon in Ithaca NY.

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Sep 4, 2017

BRICS countries considering own cryptocurrency as settlement mechanism

Posted by in categories: cryptocurrencies, economics, finance

The BRICS Finance Committee is discussing a joint virtual currency for the five nation bloc of developing economies, according to the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev.

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Aug 7, 2017

Russia’s Banks Get Serious About Digital Currencies

Posted by in categories: bitcoin, cryptocurrencies, economics, finance

With Russia looking to cure its economy of a hydrocarbon addiction, a consortium of the country’s biggest banks is proposing that it explores a different kind of gas for the answer.

The lenders, including Sberbank PJSC and VTB Group, aren’t developing gas of the natural variety. It’s also the name of a virtual unit based on the blockchain of ethereum, the world’s biggest cryptocurrency after bitcoin. The banks are hoping that by adopting the technology they will make payments safer and faster, while thrusting Russia to the forefront of a trend that’s transforming the financial industry.

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Aug 2, 2017

BCH: Did I throw away $$$$? Perhaps…

Posted by in categories: bitcoin, cryptocurrencies, economics, internet

Yesterday was D-Day in the Bitcoin world: On Tuesday, Aug 1st 2017, Bitcoin Cash (BCH) forked off of Bitcoin (BTC). For anyone with control over their wallet and private keys, they now have an equal amount of BTC and BCH.

I have a Bitcoin wallet. Yet, I don’t have any new Bitcoin Cash—and I have no one to blame but myself. Will I ever get the BCH associated with my pre-fork coins? I think that it is likely, though certainly not assured. If not, it will still be my fault. After all, I had fair warning from the company that I trust as custodian of my assets.

A Cryptocurrency Mantra:
“Woe be the person who trusts decentralized cash to a custodian”

I trust Coinbase for good reason. I left my BTC in my Coinbase wallet and vault throughout the fork. Let me tell you how I view the risks of failing to remove my coins before August 1…

Continue reading “BCH: Did I throw away $$$$? Perhaps…” »

Jul 31, 2017

Most Exponential Law Firms 2025

Posted by in categories: automation, cryptocurrencies, employment, ethics, futurism, law, moore's law

Exponential Fever. The business world is currently gripped by exponential fever. The concept came to prominence with Moore’s law — the doubling every 18–24 months of the amount of computer power available for $1,000. The phenomenon has since been replicated in many fields of science and technology. We now see the speed, functionality and performance of a range of technologies growing at an exponential rate – encompassing everything from data storage capacity and video download speed to the time taken to map a genome and the cost of producing a laboratory grown hamburger.

New Pretenders. A wave of new economy businesses has now brought exponential thinking to bear in transforming assumptions about how an industry works. For example, AirBnB handles roughly 90 times more bedroom listings per employee than the average hotel group, while Tangerine Bank can service seven times more customers than a typical competitor. In automotive, by adopting 3D printing, Local Motors can develop a new car model 1,000 times cheaper than traditional manufacturers, with each car coming ‘off the line’ 5 to 22 times faster. In response, businesses in literally every sector are pursuing exponential improvement in everything from new product development and order fulfillment through to professional productivity and the rate of revenue growth.

Stepping Up. For law firms, the transformation of other sectors and their accompanying legal frameworks creates a massive growth opportunity, coupled with the potential to bring similar approach to rethinking the way law firms operate. While some might be hesitant about applying these disruptive technologies internally, there is a clear opportunity to be captured from helping clients respond to these developments and from the creation of the industries of the future. To help bring to life the possibilities within legal, we highlight seven scenarios that illustrate how exponential change could transform law firms over the next 5 to 10 years.

Rise of the ‘Exponential Circle’. Our continuing programme of research on the future of law firms suggests that we will see exponential growth for those firms who can both master the legal implications of these technologies for their clients and become adept at their application within the firm. By 2025, we could indeed have witnessed the emergence of an Exponential Circle of law firms who have reached ‘escape velocity’ and left the rest behind.

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Jul 26, 2017

Ephemerisle 2017: The Bitcoin Community’s Favorite Floating Festival In California

Posted by in categories: bitcoin, cryptocurrencies

Ephemerisle, a free California festival described as “Burning Man on water,” is a favorite with the cryptocurrency community.

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Jul 18, 2017

Use code “vitalik” and get 10% off our Certified Ethereum Developer™ Course: diginomics.com/?p=5207

Posted by in category: cryptocurrencies

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Jul 5, 2017

Billionaire Fortress Investor: Cryptocurrencies Will Be Worth $5 Trillion by 2022

Posted by in category: cryptocurrencies

Billionaire investor Michael Novogratz explains that the cryptocurrency market will be worth $5 trillion by 2022.

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