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Bitcoin Mining Wastes Energy? What If That’s a Good Thing?

Bitcoin Mining Wastes Energy? What If That’s a Good Thing?

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Mining Wastes Energy? What If That's a Good Thing? Michael J. Casey is chairman of CoinDesk's advisory board and a senior advisor of blockchain research at MIT's Digital Currency Initiative. I am frustrated by the debate over whether or not bitcoin is an environmental disaster waiting to happen. No one seems to know what assumptions to use. Depending on what efficiency ratios we assume for currently operating ASIC mining rigs, they're either consuming 35 terawatt-hours per year, the equivalent of Denmark, or something far less, closer perhaps to Bolivia. The stinginess of mining pools to provide information about their operations can be partly blamed for this. We also don't know how much of mining runs on low-carbon ene
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2018: The Year We Democratize Blockchain

2018: The Year We Democratize Blockchain

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. 2018: The Year We Democratize Blockchain Eric Piscini, a principal with Deloitte Consulting LLP, is the global leader of Deloitte’s financial services blockchain consulting efforts and co-lead at its the global blockchain and cryptocurrency team. The following article is an exclusive contribution to CoinDesk's 2017 in Review. As the technology behind bitcoin nears its 10th year in the market, let's celebrate the positive. The world has seen tremendous interest in blockchain across industries and countries, from thousands of new startups, to blockchain labs popping up in commercial and federal organizations, to a number of consortia established looking to solve their industry’s biggest challenges. One can go so far as to argue t
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The Crypto Market Just Dropped on One Data Adjustment

The Crypto Market Just Dropped on One Data Adjustment

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. The Crypto Market Just Dropped on One Data Adjustment CoinMarketCap, perhaps the go-to source for cryptocurrency market data, has sparked an uproar after it moved to exclude South Korean exchanges from its price average calculations. The unannounced move to remove data from Bithumb, Coinone and Korbit from its average calculations sparked confusion given that its front-page suggests a broad decline in the cryptocurrency market, including what appeared to be a near-30% fall in the price of XRP. The overall market cap of the market – one measure by which traders assess the ecosystem – dropped sharply once the change went into effect, which appears to have taken place just before 5 a.m. UTC. That shift can be notably seen in the 2
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Ripple Down 30 Percent as Bull Run Fades

Ripple Down 30 Percent as Bull Run Fades

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Ripple Down 30 Percent as Bull Run Fades Ripple's XRP token is down more than 30 percent today, as losses are seen across the top 15 cryptocurrencies. Having rallied more than 35,000 percent last year, the price of XRP rose to lifetime high of $3.85 on Jan. 4. However, the bull run faded in subsequent days. Over the weekend, XRP traded in a sideways manner above $3.00, before falling below the psychological level earlier today. At time of writing, the world's third-largest cryptocurrency by market capitalization is trading at $2.34 levels. The decline comes alongside declines across the top 15 cryptocurrencies today. Other top losers are bitcoin cash (-17.5 percent), litecoin (-12.9 percent), cardano (-8.68 percent), NEM (-8 perc...
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Banks and the Blockchain Blues

Banks and the Blockchain Blues

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Banks and the Blockchain Blues Noelle Acheson is a veteran of company analysis and member of CoinDesk's product team. The following article is an exclusive contribution to CoinDesk's 2017 in Review. Like the misleading opening of a well-crafted thriller, the blockchain bustle in the banking sector is sending a confusing message. To see how, let's take a brief look at the timeline: In 2013, the news was full of banks shutting down bitcoin company accounts and worrying about being displaced by the innovation. This continued in 2014, while a handful of brave institutions began to look at the underlying technology. In 2015, we started to see the emergence of "thought leadership" from some incumbents, as well as promises of imminent
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Bitcoin Faces Bear Move as Price Drops Toward $15K

Bitcoin Faces Bear Move as Price Drops Toward $15K

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Faces Bear Move as Price Drops Toward $15K Bitcoin is looking weak today after prices failed to hold above $17,000 levels at the weekend. Coindesk's Bitcoin Price Index (BPI) fell to a low of $15,253 earlier today and was last seen trading at $15,345 levels. According to data source OnChainFX, bitcoin (BTC) has depreciated by 8.86 percent in the last 24 hours. Notably, fears of a China crackdown on bitcoin mining may have weakened the bid tone around the world's largest cryptocurrency by market capitalization. Caixin Global reported last week that local regulators in China may not longer offer discounted electricity and tax deductions to mining companies. Further, a leaked document now suggests that China's top internet f
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I Love Bitcoin. That’s Why I Sue Exchanges

I Love Bitcoin. That’s Why I Sue Exchanges

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. I Love Bitcoin. That's Why I Sue Exchanges David Silver is the founder of Silver Miller, one of the preeminent plaintiffs' law firms in crypto litigation. Silver Miller prosecutes cases against wayward cryptocurrency exchanges and misleadingly presented crypto-investment offerings. The firm is focused on representing victims of financial fraud. The following article is an exclusive contribution to CoinDesk's 2017 in Review. "You take the blue pill, the story ends. You wake up in your bed and believewhatever you want to believe. You take the red pill, you stay in Wonderland,and I show you how deep the rabbit hole goes."– Morpheus, "The Matrix" (1999) I grew up the son of a personal injury lawyer in New York and have been exposed
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Weathering the Altcoin Shitstorm (And Investing for the Next One)

Weathering the Altcoin Shitstorm (And Investing for the Next One)

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Weathering the Altcoin Shitstorm (And Investing for the Next One) Brendan Bernstein is a founding member of Tetras Capital Partners, LLC, an investment manager focused on investing in cryptocurrencies and blockchain assets. The crypto market moves in cycles – and understanding these cycles is key to profiting, managing risk and keeping sane. Howard Marks describes two ways to profit from markets: (1) Hold more of the things that rise and less of the things that fall, and (2) cycle adjustment, or trying to have more risk exposure when markets rise and less when they fall. Most people ignore the second part. Yet the key to cycle adjustment is understanding where you are in the cycle and calibrating the risks and rewards to account
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2018’s Challenge: What Are Crypto Assets Really Worth?

2018’s Challenge: What Are Crypto Assets Really Worth?

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. 2018's Challenge: What Are Crypto Assets Really Worth? Bradley Miles and Sid Kalla are the co-founders of Turing Group, an incubation and advisory firm focused on token protocol design and the ICO sales process. The following article is an exclusive contribution to CoinDesk's 2017 in Review. If 2017 has taught us anything, it's that there's no shortage of tokens. Yet, this strength in numbers has brought pitfalls for new investors and analysts, many of whom seem to be having a hard time trying to understand or value their options. Why is that? After all, Wall Street has been valuing other asset classes like stocks and bonds for over a century, and it has a fairly sophisticated models to value derivatives. One of the primary rea
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2017: A Legal Renaissance, Blockchain Style

2017: A Legal Renaissance, Blockchain Style

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. 2017: A Legal Renaissance, Blockchain Style Joshua Ashley Klayman is co-head of global law firm Morrison & Foerster LLP 's Blockchain + Smart Contracts Group and chairs the Wall Street Blockchain Alliance Legal Working Group. The following article is an exclusive contribution to CoinDesk's 2017 in Review, and represents the author's personal views, not necessarily those of her employer. The year that just ended was transformational. Blockchain and cryptocurrency entered the common vernacular. Previously, my family and friends, many of whom likely viewed me as earnest and well meaning – yet nonetheless tinfoil hat-wearing – politely tolerated my attempts to regale them with tales of how "blockchain can change the world." But now