Please share if you find this article interesting. $16,000: Bitcoin Looks North As Ripple Takes Hit Bitcoin is gaining altitude today, amid a sharp drop in prices of some alternative currencies. Prices on CoinDesk's Bitcoin Price Index jumped 7 percent to an intraday high of $16,181 in the last two hours. The cryptocurrency has appreciated by 10 percent in the last 24 hours, according to data source CoinMarketCap. Meanwhile, Ripple's XRP token has depreciated by 9 percent in the last 24 hours, having soared to new heights on Jan. 3. Other alternative currencies like NEM (XEM), Cardano (ADA) and Stellar (STR) are down at least 12 percent each. More importantly, the XRP/BTC (ripple-bitcoin) pair has taken a beating in the last couple of hours. XEM/BTC, ADA/BTC, ETH/BTC (ethereum-bi
Please share if you find this article interesting. ICOs: The Tech Is Here, But Where Are the Standards? Nick Cowan is CEO of the Gibraltar Blockchain Exchange and the Gibraltar Stock Exchange Group, which operates the Gibraltar Stock Exchange. The following article is an exclusive contribution to CoinDesk's 2017 in Review. Let's face facts: initial coin offerings (ICOs) have done more this year to encourage the adoption of blockchain technology, as well as its activity, invention, debate and reaction, than just about anything else in the industry. Many technological purists are skeptical about this. They roll their eyes. They look forward to a more sophisticated future for blockchains. This is very understandable, but it's also short-sighted. Tokens and ICOs are a "killer app,"
Please share if you find this article interesting. Ripple Fever? Other Crypto Assets Are Outpacing Its 2018 Gains So-called alternative cryptocurrencies are making their presence felt in the first week of 2018, recording impressive gains that are drawing investors to options once considered risky. Bitcoin, the world's largest cryptocurrency by market capitalization, rallied 1,900 percent last year. But, as prices neared the $20,000 mark in December, the relatively cheap "small cap" coins began to rise. With gains due, in part at least, to the rotation of money out of an overbought bitcoin, the broader cryptocurrency rally seems to have gathered pace in 2018. With 66 percent appreciation so far in 2018, Ripple's XRP token is now the second largest cryptocurrency by market capitali...
Please share if you find this article interesting. $1,000: Ethereum Tops Price Milestone in Market First Days after hitting $900, ethereum's native ether token, ether, has topped $1,000 for the first time in its history. After spending two days mostly below its previous high of $900, ether went on a rally Wednesday, and hit its latest milestone of $1,000 early Thursday morning, according to data from CoinDesk's Ethereum Price Chart (EPI). Despite this rally, it remains as the third largest cryptocurrency by market cap, having recently lost the second place spot to Ripple’s XRP token. According to data from CoinMarketCap, XRP's lead has grown to more than $40 billion in the last day. Thursday also saw the overall cryptocurrency market cap jump past $770 billion according to Coin
Please share if you find this article interesting. Coinbase to Customers: Don't Forget to Pay Taxes on Bitcoin Gains Exchange and wallet service provider Coinbase appears to be taking early steps to remind customers about their upcoming tax obligations. With the U.S. tax year having ended on Dec. 31, the company's users are now faced with a banner placed at the top of their dashboard, stating "Please remember to pay your taxes," and linking to the website's newly updated tax FAQ page. The FAQ points out that Coinbase "cannot provide legal or tax advice," but links to Internal Revenue Service (IRS) guidelines on how to report and pay taxes relating to crypto trading. A similar banner is also now visible for users in the EU as well. It also adds that users can refer to their acco
Please share if you find this article interesting. Bank Blockchain Integration: A Challenge Overcome John Whelan is blockchain lab director at Banco Santander, where he specializes in the application of blockchains, distributed ledgers and smart contracts within the financial industry. The following article is an exclusive contribution to CoinDesk's 2017 in Review. For the past couple of years, there has been an extraordinary amount of hype around the potential of blockchain (or more correctly distributed ledger technology) to transform the banking industry. The reason for this hype is quite profound: DLT has given us the opportunity to rearchitect the financial industry. In the years ahead, we will move from a system of many banks with many ledgers (with all the associated rec
Please share if you find this article interesting. $1K Next? Ether Price Climbs to New Record High The price of ether, the native token of the ethereum platform, has hit a new all-time high and is now eyeing the $1,000 mark. As of writing, ether (ETH) is trading at a record $978. The world's third-largest cryptocurrency by market capitalization has appreciated by 11 percent in the last 24 hours, according to data source CoinMarketCap. A deeper look at the individual markets suggests the cryptocurrency is trading above $1,000 on Asian exchanges offering ETH/KRW pairs. Meanwhile, on western exchanges, ETH is trading slightly below $950 levels. Notably, 24-hour trading volume stands at $5.83 billion, which marks a 125 percent increase since Jan. 1. A high volume rally indicates stro
Please share if you find this article interesting. Down But Not Out: Bitcoin Holds Onto Bullish Territory Bitcoin has come under pressure today amid sharp gains in alternative currencies, but the charts are showing no signs of panic. Having clocked a high of $15,394.99 at 02:14 UTC today, CoinDesk's Bitcoin Price Index fell to an intraday low of $14,225.17 at 09:14 UTC. At press time, bitcoin was trading at $14,500 levels. Quite clearly, the 2 percent depreciation in the value shown by data source CoinMarketCap is largely due to the decline seen between 02:14 UTC and 09:14 UTC. Meanwhile, cheaper alternative currencies are strongly bid. For instance, Ripple's XRP token has set a new all-time high of $3, having appreciated by a hefty 31.63 percent in the last 24 hours. Furthermore
Please share if you find this article interesting. Japan: The New Heart of Bitcoin Yuzo Kano is the CEO for BitFlyer, one of Japan's largest cryptocurrency exchanges. He previously worked at Goldman Sachs developing settlement systems, and later on equities derivatives and convertible bonds. The following article is an exclusive contribution to CoinDesk's 2017 in Review. No matter what negative news rocked the community, what hard fork happened or what skeptics stated, bitcoin held strong in 2017. This is due in no small part to Japan. While the wider community is what breathes life into any coin, Japan is now bitcoin's heart; the country that is at the center of its support. There used to be a concern about the longevity of bitcoin, the safety of using such a novel new inventi...
Please share if you find this article interesting. Volatility: A Necessary Ingredient for Monetary and Social Transition Farzam Ehsani (@farzamehsani) is the blockchain lead at RMB and the Chairperson of the South African Financial Blockchain Consortium (SAFBC). The following article is an exclusive contribution to CoinDesk's 2017 in Review. Nothing lasts forever – we live in a world that is subject to the immutable law of change. However, it's also true that human minds have a preference for the current state of affairs (status quo bias) and have difficulty conceptualizing dramatic changes from what they know and are familiar with. Money is a case in point. The form, nature and name of money have changed over time. We have used cows, animal hides, beads, shells, salt, gold, pa