Please share if you find this article interesting. What the Data Tells Us About Bitcoin in 2017 Jameson Lopp is an engineer at BitGo and the creator of Statoshi.info. The following article is an exclusive contribution to CoinDesk's 2017 in Review. I’ve always been fascinated with the raw numbers relating to the operational status and growth of bitcoin, especially as we ride the rollercoaster of the adoption life cycle. That's why I created Statoshi.info in 2014 to track bitcoin metrics from the perspective of a full node. To that same end, I've compiled statistical measurements of bitcoin's growth in 2017 from a variety of sources. A couple things are clear: bitcoin is at the forefront of an increasingly complex ecosystem that continues to grow in a variety of ways. And for the
Please share if you find this article interesting. Korea's Crypto Crackdown Talk Draws Backlash From Users and Politicians More than 100,000 South Korea residents have signed petitions asking the government there to step back from any plans to close the country's cryptocurrency exchanges. Earlier this week, the South Korean Justice Ministry announced that it was preparing legislation to close the country's online exchanges amid a speculative boom in cryptocurrencies. That shot across the bow was paired with the news that tax authorities were investigating at least some of the exchanges in Korea, and in the hours to come. Yet the proposal drew swift pushback from within the South Korean government – the president's office, in particular, said no move is "finalized" as of yet – as
Please share if you find this article interesting. Upside Break on the Way? Zcash Eyes Gains Against Bitcoin Privacy-focused cryptocurrency zcash is solidly bid against the dollar and could soon see a spike against bitcoin. As per data source CoinMarketCap, zcash (ZEC) has appreciated by 12 percent in the last 24 hours. As of writing, it is trading at $718 levels – that's down 24.83 percent from the lifetime high of $955.26 set on Jan. 7, but, week-on-week, the cryptocurrency is up 22 percent. ZEC's retreat from the record high of $955.26 could be associated with overbought technical conditions and broad-based drop in cryptocurrency prices due to fears of trading restrictions in South Korea. Prices hit a low of $601.87 on Monday, and have since struggled to extend gains above $73
Please share if you find this article interesting. Blockchain in Your Pocket? The Phone Behind Sirin's $157 Million ICO Does the world really need a blockchain phone? Sirin Labs is betting it does. The startup, which recently raised $157 million in an initial coin offering (ICO), is building an Android smartphone from scratch with special features for cryptocurrency enthusiasts: an app store for distributed apps (dapps), cold storage for private keys and easy conversion between tokens. The Switzerland-based company says the product will fill a need in a fast-growing market: a secure device that can simplify the use of cryptocurrency across multiple applications. But as an old tech adage goes, "hardware is hard," and in blockchain it may be even harder, since devices must be engin...
Please share if you find this article interesting. Bitcoin Eyes Consolidation as Price Flirts with $14K Bitcoin's price is back around $14,000 and is eyeing a short phase of rangebound trading. Despite yesterday's bearish price action, the sell-off in the world's largest cryptocurrency by market capitalization seems to have come to a halt today. As per Coindesk's Bitcoin Price Index (BPI), bitcoin (BTC) found takers at $12,878.60 (price at 00:44 GMT) and moved to an intraday high of $13,773.34. Soon before press time, prices were at $14,090 levels – that's up around 9.4 percent from the 12-day low of $12,878. The sharp recovery indicates the markets may have digested reports of a trading ban under consideration in South Korea. Further, investors may have realized that South Korea
Please share if you find this article interesting. 2018: The Year Blockchain, AI and IoT Converge Jalak Jobanputra is founder and managing partner of FuturePerfect Ventures, an early-stage venture fund investing in decentralization and digital assets. The following article is an exclusive contribution to CoinDesk's 2017 in Review. 2017 was the year that cryptocurrency became mainstream. But what’s even more exciting to many of us who have been investing in the sector for the past several years is the development of the underlying technology. Blockchain technology, which powers most cryptocurrencies, is in nascent stages. This past year, we started seeing some early proof points of how this new infrastructure can be used, including the announcement by the Australian Securities E
Please share if you find this article interesting. KFC Canada Is Accepting Bitcoin for Fried Chicken Fried chicken chain KFC Canada is accepting bitcoin – for a limited time and for a cryptocurrency-themed bucket of chicken, that is. The limited-time marketing move sees the Canada-based chain advertising "The Bitcoin Bucket" complete with a Facebook-based live-tracker of the standing price for the product, which works out to roughly 20 Canadian dollars depending on the exchange rate with bitcoin. That said, you can't exactly walk into a KFC location in Canada and pay with crypto at the cash register. Instead, the company is accepting Bitcoin via BitPay as one of the options through an online check-out page. The Bitcoin Bucket will be delivered directly to the customer's address (
Please share if you find this article interesting. Defying Wider Market Downtrend, Bitcoin Cash Eyes $3K Bitcoin cash looks set for a gravity-defying move upwards. Data source CoinMarketCap shows the world's fourth largest cryptocurrency by market capitalization rose as high as $2,961 yesterday before closing the day (as per UTC) at $2,895.38. However, prices dipped to a low of $2,396 at 04:34 UTC, possibly in response to reports that South Korea – one of the world's largest cryptocurrency markets – is considering an outright ban on cryptocurrency trading. As of writing, bitcoin cash (BCH) is trading back up at $2,670 levels – up 5.57 percent in the last 24 hours. Also, BCH is bucking the broader market trend. As per CoinMarketCap, bitcoin has depreciated by 2 percent in the last
Please share if you find this article interesting. Bitcoin Price Stays Heavy Amid Korean Regulatory Reports Despite the two-way action on the price of bitcoin over the last 24 hours, the bears still appear to have the upper hand. CoinDesk's Bitcoin Price Index (BPI) fell to $13,455 yesterday before rising back above $14,900. At that point, it appeared bitcoin (BTC) had found a bottom, but the ascent was cut short at $14,942 and prices fell further to $12,845 at 04:29 UTC – very likely on fears South Korea may soon announce an outright ban on cryptocurrency trading at exchanges. With South Korea one of the biggest markets for cryptocurrencies, such a ban by the nation would definitely weaken the demand side pressure. As a result, markets reacted negatively to the news. However, th
Please share if you find this article interesting. Crypto Cat and Mouse: 2018 Will Be the Year of Policy Subterfuge Pavel Matveev is the CEO of Wirex, a bitcoin wallet and payment card provider. The following article is an exclusive contribution to CoinDesk's 2017 in Review. The new year will usher in regulatory arbitrage amongst companies that want to develop innovative solutions, as well as from states seeking to maximize tax receipts from cryptocurrency-related businesses. While this may sound like a bold statement given what we saw in 2017, I believe the controversy brought by state approaches to cryptocurrency regulation this year far will exceed that of last year. In the regulatory world of financial services, the divergence of attitudes between state regulators is striki...