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1  Bitcoin / Bitcoin Discussion / Bitcoin rate will increase to $1,000,000 in three years - McAfee on: November 30, 2017, 12:57:03 PM
The bitcoin rate will increase to $1,000,000 in three years, as its price hit another all-time high at $11,000. The computer programmer and notorious businessman John McAfee has doubled his forecast for the bitcoin price, claiming it could jump to $1,000,000 by 2020.

If wrong, McAfee still is decisive to “eat his dick.”. Earlier, McAfee wrote in his twitter that bitcoin would rise to $500,000 by 2020, adding that he will eat his penis otherwise.

This phrase of McAfee has since become proverbial, with many users in social media reminding to McAfee his promise whenever he makes any publication on bitcoin. Though sounding too optimistic, McAfee's prediction met support from the bitcoin community.

According to Altucher, the bitcoin price is pushed up by the fact that the issuance of bitcoins is limited by 21,000,000 coins, while the number of persons, willing to buy it, is growing. Currently, bitcoin is traded at around $10,000, down from the all-time high $11,300.
2  Bitcoin / Bitcoin Discussion / South Korea Nears Mandating Regulations for Bitcoin Exchanges on: November 30, 2017, 08:32:45 AM
South Korean authorities are reportedly close to putting the final touches on regulations for bitcoin and cryptocurrency exchanges. The Financial Services Commission (FSC), South Korea’s financial regulator and authority, is outlining regulations that will mandate cryptocurrency exchanges to play by its rules.

The regulator publicly revealed its intention to introduce regulations for bitcoin exchanges last year with a focus on regulatory and licensing parameters. The report suggests that the newly proposed regulations “would treat the operation of cryptocurrency exchanges (such as Bithumb, Coinone and Korbit) as unauthorized fundraising.”.

Since cryptocurrencies aren’t recognized as legal tender nor a financial instrument, the regulations will chalk cryptocurrency exchanges under ‘unauthorized fundraising’, according to the report. An official from the FSC, as quoted by Hankyoreh, elaborated: The regulations will also prevent the abuse of cryptocurrencies from criminals using it as a tool for money laundering.

Speaking on Tuesday at a forum organized by Korean financial watchdog, the Financial Inteligence Unit, FSC vice-chairman Kim Yong-beom acknowledged the rapid rise in interest and adoption of cryptocurrencies like bitcoin and Ethereum in Korean society. According to Yonhap, the regulatory official went on to state: Korean authorities’ move to regulate the cryptocurrency industry is gathering pace at a time when the country is firmly established among the world’s largest trading markets for cryptocurrencies.
3  Bitcoin / Bitcoin Discussion / Nasdaq is said to plan bitcoin futures, joining big rivals on: November 30, 2017, 05:53:42 AM
The New York-based exchange operator plans to introduce bitcoin futures next year, according to a person familiar with the matter, becoming the third major US exchange to dive into the red-hot market for cryptocurrencies. Nasdaq will introduce the products as early as the second quarter, and the contracts will trade on its NFX market, according to the person, who asked not to be named discussing a private matter.

The offering will pit Nasdaq against two bigger competitors, CME Group Inc. and Cboe Global Markets Inc, both of which already announced plans to offer cryptocurrency derivatives. Nasdaq is a comparatively small player in the futures market, which may make it harder to cultivate an image as a destination for cryptocurrency derivatives trading.

The strategy also means that New York Stock Exchange owner Intercontinental Exchange Inc. is the only one of the four major US exchange operators without public plans to offer bitcoin derivatives. VanEck Associates Corp., which recently withdrew plans for a bitcoin exchange-traded fund, will supply the data used to price the contracts, pulling figures from more than 50 sources, according to the person.

The Nasdaq contracts are also designed to handle bitcoin hard forks more elegantly, the person said. Nasdaq's product will reinvest proceeds from the spin-off back into the original bitcoin in a way meant to make the process more seamless for traders, the person said.
4  Bitcoin / Bitcoin Discussion / Bitcoin heads towards $11000 with institutional interest on: November 29, 2017, 12:22:24 PM
The day after tipping the monumental $10,000 milestone the rise and rise of the cryptocurrency has so far showed no signs of slowing the today's price representing (at the time of writing) a 8.34 percent rise worth a staggering $832.59 (£621.52) price rise for users and coin hoarders.Alessio Bruni, General Manager Europe of Bitcoin wallet provider Luno told that this kind of exponential growth is often driven by network effects. In short, according to Mr Bruni: "The more people who have access to something (like email, a Facebook account or Bitcoin), the more valuable it becomes.Coinbase, the largest Bitcoin exchange in the United States, added around 100,000 accounts at the end of last week with the new influx of investor interest coinciding with the Thanksgiving holiday.Similarly Luno are seeing a customer surge having just announced the on-boarding of their millionth cryptocurrency wallet holder.Mr Bruni adds: "The other reason (for the rise) is that we’re seeing more signs of institutional money entering the market, especially in the US and Europe.

"There is an increased understanding of what Bitcoin is, what it can be used for - and what it can’t - and along with the market cap rising, funds and institutional investors are allocating a small percentage of their overall portfolio in digital currencies like Bitcoin.".
5  Economy / Speculation / Tweets on Bitcoin 10000 dollars on: November 29, 2017, 10:09:04 AM
#bitcoin was a gift from Satoshi and other pioneers. This price was earned by the community over some hard years. Let’s be worthy of the massive opportunity in front of us.-
 Ted Rogers @tedmrogers -President at Xapo

Bitcoin 10000. We are witnessing history. Glad you could all be here with
Published 9 hours ago, by @CryptoCobain

Bitcoin hits $10,000. Congratulations to all the holders! This is by far the strongest Bitcoin bull run I've seen in 6+ years. Now take some profit off the table. You deserve it for believing when no one else around you did.
Published 9 hours ago, by @SatoshiLite via @Excellion

6  Bitcoin / Bitcoin Discussion / Another Form of Bitcoin Will Hit the Markets Soon on: November 28, 2017, 06:39:34 PM

As if three different versions of Bitcoin in the top 10 weren’t sufficient, we may soon see AML Bitcoin make its mark as well. More specifically, this currency is getting listed on the HitBTC exchange, which is also the first major exchange openly supporting AML Bitcoin in an official capacity.

At this rate, we may very well see five or six different currencies with Bitcoin in their names dominating the rankings. While AML Bitcoin has been in development for quite some time now, the currency has yet to commence public trading.

For his part, HitBTC CPO Paul Clarkson thinks AML Bitcoin will make a positive impact. It remains to be seen if any other major exchanges will follow suit, as AML Bitcoin will be an altcoin for all intents and purposes.

What is pretty much guaranteed is that AML Bitcoin will not dethrone Bitcoin as the world’s leading cryptocurrency anytime soon. Only time will tell if there is a place for AML Bitcoin in the world of virtual money, although it seems safe to assume this currency will find its niche sooner or later.
7  Bitcoin / Bitcoin Discussion / 'Why does Bitcoin have value?' on: November 28, 2017, 02:22:28 PM
A roundup of what The Globe and Mail's market strategist Scott Barlow is reading today on the Web CBC collected arguments from economists who believe that the end of NAFTA wouldn't be a big deal to the domestic economy, "It is a 'manageable risk' that businesses, markets and policymakers would adjust to fairly quickly, BMO says in recently released report. Story continues below advertisement "NAFTA's potential end would hurt, but BMO says it's a 'manageable risk'" – CBC ===== Oil markets are skittish as OPEC delegations arrive in Vienna for a meeting that is expected to result in a continuation of production cuts, "Futures dropped as much as 1.2 percent in London, extending Monday's decline.

"Oil Extends Declines Before OPEC Meeting on Output-Cut Extension" – Bloomberg "Just How Big Is Oil's Invisible Friend?". – (nat gas outlook) Gadfly "Goldman Says Oil Bulls Beware as Uncertainty Grips OPEC Meet" – Bloomberg Story continues below advertisement Story continues below advertisement ===== Deutsche Bank global financial strategist Masao Muraki provides his theory on why equity valuations remain so high, "The earnings yield in Japan, the US, and Europe can mostly be explained by the term premium observed in bond market (the yield premium for long-term bonds due to price fluctuation and illiquidity risk) and the risk neutral rate (average forecast short-term interest rate over the next 10 years).

A one standard deviation decline in term premium causes stock prices to rise 2.5% in the US, 1% in Europe, and 5% in Japan.". @SBarlow_ROB D.B.: the reason for high PE ratios" – (research excerpt) Twitter ===== Story continues below advertisement JP Morgan published a giant tome called "An Investors' Guide to Artificial Intelligence" wherein they provided stock ideas to benefit from this potentially transformative trend.

@SBarlow_ROB JPM : The scope of AI proliferation" – (research excerpt) Twitter "@SBarlow_ROB JPM: Biggest winners from AI expansion' – (stock ideas) Twitter ===== Motley Fool attempts to answer an important question: Why does Bitcoin have value?. – Motley Fool ===== Tweet of the Day: "@michaelbabad What to watch for in Bank of Canada financial system review (subscribers) " – Twitter Diversion: "The best films of 2017" – Marginal Revolution.
8  Alternate cryptocurrencies / Altcoin Discussion / Soon you will be able to use Ethereum to pay drinks Singapore night club on: November 28, 2017, 10:22:17 AM
Singapore-based night club Skyline announced today that it will enable the use of Ethereum as a payment method for food and drinks. The result of a collaboration between the night club and cryptocurrency platform COSS, visitors will be able to use their Jaxx and Ethereum Free wallets to pay bills through the COSS POS System.

“We hope to expand this two-day trial of Ethereum acceptance as payment for drinks and food into a daily acceptance of multiple crypto currencies,” said Skyline operator Subaish Rajamanickam in a press statement, where the company also dubbed cryptocurrency as “the future of money.”. The night club aims to be the first in the country to implements such system.

Also Read: Malaysia’s central bank says it has no plans to appoint cryptocurrency exchange Singapore has always been perceived as a hotbed for cryptocurrency startups. Though the Monetary Authority of Singapore (MAS) has not made any conclusive policy yet on the matter, the government plans to conclude its cryptocurrency trial (“Project Ubin”) in 2018, according to a CNBC report.

The country already has cryptocurrency exchanges running, such as Coinhako and FYB-SG. Kryptos-X, an Australian cryptocurrency exchange has announced plans to launch in the Singapore market following a US$1 million seed funding round by Fatfish Internet Group.
9  Bitcoin / Bitcoin Discussion / This Is How You Can Short Bitcoin on: November 27, 2017, 06:34:11 PM

It’s difficult and expensive to bet against a downturn.The options to short bitcoin are mostly through unregulated exchanges, and very risky given bitcoin’s volatility. “All the options to short in common markets are becoming available in the bitcoin market,” said Charles Hayter, co-founder of market tracker CryptoCompare.

Contracts for Difference One of the most popular ways to short bitcoin is through CFDs, a derivative that mirrors the movements of the asset. “CFD is currently a great market if you want to short bitcoin, especially ahead of that milestone 10K mark, which we think will bring some retracement,” said Naeem Aslam, a chief market analyst at TF Global Markets in London, which offers the contracts.

Margin TradingAnother common way to short bitcoin is through margin trading, which allows investors to borrow the cryptocurrency from a broker to make the trade. Short-margin trading positions on Bitfinex, the world’s second-largest cryptocurrency exchange, were at around 19,188 bitcoins on Monday, versus 23,931 long positions, according to, which tracks data on the bourse.Borrow to Short BitcoinMost of the brokerages that allow margin trading will also let clients borrow bitcoin to short with no leverage.

This will be a less risky way to bet bitcoin price will fall.Futures Contracts The futures market isn’t as widely developed as CFDs and margin trading, but it’s still possible to make bearish bets on bitcoin with options. The risk is that these notes don’t always trade in line with bitcoin, so the exposure won’t be perfect.Read more on Swiss certificates used to short bitcoinAslam at TF Global Markets said he’s not seeing an increase in demand to short bitcoin.
10  Bitcoin / Bitcoin Discussion / Bitcoin is now within spitting distance of $10000. Here are four ways YOU can in on: November 27, 2017, 02:30:05 PM
Created after a heated debate in the cryptocurrency community, bitcoin cash is an “offshoot” of bitcoin, Canaccord noted, created over the relatively smaller blocks used for bitcoin’s blockchain technology — the public ledger used to track transactions. “As a result, after a consensus was reached in the bitcoin community, bitcoin forked at block 478,558 of its blockchain on (Aug. 1), creating Bitcoin Cash,” Canaccord said.

“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract,” said Terry Duffy, chief executive of the CME Group, in a release. The world’s first blockchain and cyptocurrency fund of funds — which will seek out and put money into a variety of digital-focused funds — was launched this month by Luxembourg-based Block Asset Management and is now an option for qualified investors.

“Via the Fund, investors gain diversified exposure to this dynamic new asset class by way of the funds unique five-prong investment approach: exposure to tracking/index, trading, mining, lending and ICO funds through carefully selected managers and funds.”. Bitcoin has moved on from the graphics chips, but Ethereum, another blockchain that churns out digital tokens, has not.

Morgan Stanley said that it believes total graphics chip sales tied to Ethereum mining this year will be US$800 million, but that it will be halved next year. “With payback diminishing rapidly as the complexity of the algorithm grows, and the obsolescence of mining equipment 12-18 months away, deceleration in spending by miners seems likely to continue,” Morgan Stanley said.
11  Bitcoin / Bitcoin Discussion / Analysis: Bubble or breakthrough? Bitcoin keeps central bankers on edge on: November 27, 2017, 08:16:00 AM
“The problem with bitcoin is that it could easily blow up and central banks could then be accused of not doing anything,” European Central Bank policymaker Ewald Nowotny told Reuters. For these reasons, and given their low adoption by retailers, central banks have dismissed cryptocurrencies as risky commodities with no bearing on the real economy.

Russia’s central bank said it would block websites selling bitcoin and its rivals while the ECB told European Union lawmakers last year “they should not seek.. to promote the use of virtual currencies” because these could “in principle affect the central banks’ control over the supply of money” and inflation. The ECB, the Bank of Japan and Germany’s Bundesbank are already testing blockchain, admitting it may have a future use for the settling of payments.

For this reason, Swiss banking giant UBS is leading a consortium of six banks trying to create its own digital cash equivalent of each of the major currencies backed by central banks. Some central banks such as Sweden’s Riksbank and the Bank of England are also looking at the merits of introducing their own digital currency.

A central bank digital currency (CBDC) could also change the way monetary policy is carried out by allowing central banks to inject liquidity directly into the real economy, bypassing the financial sector, if they want to boost inflation. A senior Bank of Japan (BOJ) official said on Wednesday that although technology is revolutionising banking, digital currencies will not replace physical money anytime soon.
12  Alternate cryptocurrencies / Altcoin Discussion / Ethereum Now Handles More Transactions Than All Digital Currencies Combined on: November 26, 2017, 03:15:26 PM
Ethereum, the barely two years old digital currency, now processes more transactions than all other digital currencies combined, including bitcoin.

Ethereum currently processes 52.3% of all cryptocurrency transactions, followed by bitcoin at 33%, while Bitcoin Cash, currently third in market cap, is handling only 1.8% as pictured above.

More than half a million transactions were processed yesterday by ethereum, a level that is now becoming common for the platform, rising considerably since early last year when it stood at just 10,000.

While bitcoin is currently processing around 330,000 transactions, with no change in volumes for an entire year despite considerable growth and a claimed increase in capacity.

Bitcoin’s transaction levels have been moving very much in a straight line due to a limited 1MB capacity. Although segregated witnesses (segwit) claimed to double it, in effect it has added as good as no capacity since its activation in August 2017.

In contrast, ethereum’s transaction levels have continued to grow with the network able to handle probably double the current amount of demand without any congestion and at sub-penny fees.

Some suggest that much of this demand is due to dapps and tokens built on top of ethereum, but that may make the network itself more appealing due to increased network effects.

Especially at a time when bitcoin transactions are very difficult and quite painful to make due to considerable delays and occasional fees of as high as $10.

Ethereum hopes to avoid that completely with fees kept below 20 cent through two major network upgrades that are on the roadmap.

Firstly, a hybrid Proof of Stake (PoS) and Proof of Work (PoW) upgrade might be implemented as early as next year.

That might reduce transaction times below the current 15 seconds which in itself would increase capacity accordingly, but it may further increase capacity due to incentivizing nodes through staking, which can in a way be seen as earning interest for running a network node and for increasing decentralization.

Eventually the network will upgrade to fully PoS, when confirmation times might be brought down to as low as 2 seconds, increasing capacity by orders of magnitude.

Then, a more long term plan is sharding, which remains in conceptual development and may not be ready until after 2020. That aims to increase on-chain capacity to as good as unlimited.

For now, ethereum can still comfortably handle 1 million to 2 million daily transactions, but thereafter it may start struggling. Demand, however, is not at those levels yet. Once it rises there, the capacity upgrades might be ready, which may further be complemented with Raiden, Plasma and other second layer protocols.

13  Bitcoin / Bitcoin Discussion / Creating the World’s First Bitcoin Wallet for the Blind on: November 26, 2017, 09:32:16 AM

One of the most secure methods to store digital currencies is a hardware wallet. But most of the hardware wallets do not support usage for blind people – until now.

There are many different ways in which users can store their Bitcoin and experts strongly advise people not to store their cryptocurrencies on online exchanges, however, since they tend to be primary targets for hackers and other cybercriminals. Of all the available options, hardware wallets are the most secure option for individuals and companies to securely store their Bitcoin and other cryptocurrencies.

The Trezor and Ledger Nano S are currently the most popular and secure hardware wallets on the market and, although both are high-quality devices, they both suffer from the same shortcoming – lack of support for blind users. A Kentucky-based developer named Adam Newbold is on a mission to build a unique hardware wallet designed specifically for the blind.

The goal behind the IcyWallet is to offer a 100% free and open source hardware wallet for blind people to store their Bitcoin. Newbold also stated in the article that he is not planning to become a manufacturer of hardware wallets, but rather to offer disabled people the same opportunity to secure their digital currencies.
14  Alternate cryptocurrencies / Altcoin Discussion / Vitalik Buterin Lays Roadmap for Ethereum Visa Levels Quadratic Sharding on: November 25, 2017, 06:34:03 PM
That was the opening statement of Vitalik Buterin, Ethereum’s inventor, at BeyondBlock in Taipei where he laid out a plan to reach Visa levels scalability within the next 3-5 years. Having two out of three is easy he says, providing examples of current solutions that have made that two out of three trade-off: Existing blockchains, like Ethereum and Bitcoin in their current state, sacrifice scalability, he says, while super big blocks, at the size of 10GB, would sacrifice decentralization, Buterin says.

One such way is through second layer solutions, like Plasma, Raiden, or the Lightning Network, however ethereum also aims to achieve the trilemma of decentralization, safety and scalability, all on-chain. “The way I generally describe sharding is… you can think of it as, in a fairly simple version, creating a blockchain where you have, lets say, a hundred different universes and each of these universes is a different account space,” Buterin says before adding: “So you can have an account in some universe or you can have a contract in some universe and you can send a transaction in some universe and if you send a transaction in some universe it only affects stuff in some universe.

Let’s imagine we keep the main blockchain and into the main blockchain we would publish a contract, and this contract would be called the validator manager contract [which] would maintain an internal Proof of Stake (PoS) system… The validator manager contract also keeps track of a set of shards… the 100 universes. A collation is basically just a group of transactions and the collation would have a collation header that would be basically a PoS signed block header, and these collation headers would be pushed into the validator manager contract, but all of the actual transactions in the shards, all of the shards states, all of the shards collations, that would go off-chain.

The only thing that goes on-chain is these collation headers and the validator manager contract would keep track of these headers and would keep track of the state roots of each shard. And this new world with its own rules which has quadratic scalability as nodes validate certain shards and act as light clients for other shards, with this new world potentially having even higher levels of scalability dependent on how sharding is implemented or incrementally improved.
15  Bitcoin / Bitcoin Discussion / Bitcoin, Ether Prices Surge to Fresh All-Time Highs on: November 25, 2017, 12:10:24 PM
The top two cryptocurrencies by market capitalization, bitcoin and ether, have continued their respective rallies, setting fresh record highs today. Having traded more or less sideways since Monday, prices started to lift at 07:00 UTC, setting the new all-time high at 09:43.

according to CoinDesk’s Bitcoin Price Index. Bitcoin started the session today at $8,201, and is up 2.85 percent for the session.

According to CoinMarketCap, bitcoin has risen 11.97 percent over 24 hours, and 39.25 percent for the week. The sharp gains come as the combined market capitalization for all cryptocurrencies also peaks at new highs – currently standing at $267.6 billion.
16  Bitcoin / Bitcoin Discussion / Mainstream Adoption of Bitcoin Throughout South Korea is Growing on: November 25, 2017, 09:38:51 AM
Some of South Korea’s most influential financial institutions and service providers have begun to integrate bitcoin into their existing infrastructures, increasing the liquidity of the digital currency for general consumers in the country. Hyosung, the most significant ATM manufacturer in South Korea, has officially integrated bitcoin brokerage services into their domestic and internationally distributed ATMS.

The Just.Cash ATM model of Hyosung enables existing bank and commercial ATMs to operate as one-way bitcoin ATMs, allowing existing users to purchase bitcoin through the machine. Users of the service could use these ATMs to buy bitcoin and also sparked the implementation of Hyosung ATMs domestically.

In November of 2017, Hyosung announced a full bitcoin integration for its international 20,000 ATM models as well. Hyosung also supplies financial institutions with bank ATMs, which will be able to receive the bitcoin update in the upcoming months.

Hyosung’s integration of bitcoin will further increase the liquidity of bitcoin for general consumers and usability of bitcoin for beginner users, as with bitcoin ATMs, bitcoin investors are not required to comply with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) that take weeks to even months for full verification. Earlier this week, South Korea’s second-largest commercial bank Shinhan announced its testing of a bitcoin wallet and vault service.
17  Local / India / Backed by BillDesk, Coinome launches as a cryptocurrency exchange in India on: November 25, 2017, 07:18:18 AM
Propelled by the vision of mainstreaming crypto-currencies, the 'Coinome' platform has been launched in India. Headquartered in Mumbai, Coinome is from Hatio Innovations Pvt. Ltd., a wholly owned subsidiary of BillDesk.

Coinome operates a crypto-currency exchange and is the first crypto platform in India to allow users to be on-boarded simply and quickly via Instant e-KYC. The platform provides a seamless on-boarding experience and the e-KYC process means that users can start transacting in crypto-currencies almost immediately on registering.

The exchange platform supports instant deposits using payment gateway and instant withdrawals, thereby allowing transactions even on weekends or business holidays. As an open order book Crypto-currency exchange, Coinome facilitates transparency and best price discovery amongst the buyers and sellers.

BillDesk is India's largest payment solutions platform handling over USD 50 billion consumer digital payments annually. BillDesk has been the leader in driving electronic payments and digital commerce in India over the last 17 years. Its expertise in secure online payments, along with its market leadership position will support Coinome in promoting crypto-currencies as viable avenues for investments, transactions and building digital assets.

"At Coinome, we are excited to bring crypto-currencies to the masses. India, with a limited number of exchanges supporting multiple crypto-currencies, offers immense opportunities. We would fundamentally like to provide Indian users with a secure and convenient means for buying or selling Bitcoins, and other crypto-currencies. In the next one year, our target is to support up to 20 popular crypto-currencies and promoting the same within Indian masses as commercially viable alternatives for building their digital assets," said CEO Coinome, Vivek Steve Francis.

"We are making the long-term bet that digital currencies are going to be powering transactions in the future and change the way consumers and organisations interact and transact with one another," said co-founder and director of BillDesk, Srinivasu MN.
18  Alternate cryptocurrencies / Altcoin Discussion / Ethereum Is Big Mover In Block Tribune Volatility Index on: November 24, 2017, 07:34:20 PM

The digital currency markets held steady, as the biggest digital currencies have experienced, on average, relatively small price fluctuations over the past 24 hours. A notable high volatility outlier was Ethereum, which traded between $395.88 and $474.22 today, with an average price of $423.95.

Its range was $277.85 – $299.39 with an average of $293.47. Our proprietary Block Tribune Volatility Index is a measure of daily price variability compared with variability over the prior 30 days.

50 indicates an average day. Greater scores indicate a wider range of trade prices while lesser scores indicate a relatively flat trading period.

The data below was compiled on a per-currency basis using reports from the exchanges that saw 1% or more of the total trade volume for that currency. It is as of 1:00 p.m. US Eastern Time and includes the digital currencies with the greatest trading volume, as measured in U.S. Dollars.
19  Alternate cryptocurrencies / Altcoin Discussion / Ethereum Price Hits New High as Billionaire Predicts 25% Surge In the Next Month on: November 24, 2017, 06:21:21 PM
The Ethereum price broke $400 for only the second time in its history on Thursday, setting a new all time high early on Thanksgiving morning in the U.S.

A rival cryptocurrency to Bitcoin, Ethereum rose as high as about $425 Thursday, a gain of more than 16% in a 24-hour period. Until then, the Ethereum price had for months hovered below its previous peak in June, when it had briefly surpassed $400 for the first time.

The surge came as the billionaire cryptocurrency investor Mike Novogratz, a former hedge fund manager on Wall Street, reversed his bearish prediction on Ethereum. In June, shortly after Ethereum first hit $400, Novogratz had sold much of the cryptocurrency he owned, saying “I think we may have put the highs in for the year in Ethereum, and you’re going to slowly consolidate.”

Novogratz’s call turned out to be prescient, and the Ethereum price did not revisit its earlier highs—that is, until this week, when the influential investor suddenly turned bullish again.

“Just in the last few days Ethereum has started to move, and I actually think it’s going to put a new high soon,” Novogratz said in an interview on Bloomberg TV Tuesday. It took less than 48 hours for the Ethereum price to prove Novogratz right again.

“I think we end the year at close to $500 in Ethereum,” he predicted, adding that the Bitcoin price, which reached as high as $8,300 this week, would hit $10,000 before 2017 comes to a close. “There’s a lot of positive things happening in the Ethereum ecosystem,” added Novogratz, who has recently begun raising money for his new cryptocurrency-focused hedge fund.

The Ethereum price has already risen more than 50 times this year. To reach $500 before 2017 is out, Ethereum would need to rise another 25% from the $400 mark where it was trading early Thursday morning—all in a little more than a month.

Fueling the rally is increasing business interest in the Ethereum blockchain, which can be used to build applications with uses beyond digital currencies. Hewlett Packard Enterprise (hpe, +1.68%), for one, recently demonstrated an application using the Ethereum protocol to power iRobot’s Roomba vacuum cleaner.
20  Bitcoin / Bitcoin Discussion / Bitcoin Account Holder Loses $100K Over Public Wireless Network on: November 24, 2017, 12:37:17 PM
An unidentified 36-year-old man who owns has lost over $117,000 in Bitcoins while he was logged in on a public wireless network.. An unidentified 36-year-old man who owns a Bitcoin account has lost more than 100,000 euros ($117,000) worth of Bitcoins while he was logged in on a public wireless network in a restaurant in Vienna, Austria.. The Austrian police, however, claimed that they are still investigating whether the victim’s account was already hacked before he opened his account on the unsecured network, CBS reports.
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