Sentences with phrase «backed by the cryptocurrency»

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Sequoia and Andreessen Horowitz Are Secretly Backing This Cryptocurrency Hedge Fund, by Jen Wieczner

Following on the sale of the Petro, Maduro has said that he plans to launch a cryptocurrency backed by gold next week, Reuters reports.

«Since most cryptocurrencies are not actually backed by anything real, cryptocurrency speculation is based on the greater fool theory — I can buy this at $ 100 because there is someone who is a bigger idiot who is going to buy it at $ 200.

Just this week, Venezuela launched a new cryptocurrency called the petro, which is supposedly backed by the South American country's oil reserves.

Many are open to the idea of dipping their toes in the cryptocurrency world whether it's by backing crypto hedge funds or participating in ICOs directly.

Friedman notes that leading investors such as Ray Dalio, founder of investment firm Bridgewater, called Bitcoin a «bubble,» while Jamie Dimon, CEO of JPMorgan, has criticized non-flat cryptocurrency, which is currency not backed by a government.

REcoin was advertised as «The First Ever Cryptocurrency Backed by Real Estate,» while DRC, or Diamond Reserve Club, claimed to be backed by investments in diaBacked by Real Estate,» while DRC, or Diamond Reserve Club, claimed to be backed by investments in diabacked by investments in diamonds.

Those wild price swings are partly to do with the fact that cryptocurrencies aren't backed by an asset.

«I took about a month to research it, look back in the code, look back in the white paper,» referencing the bitcoin outline authored by the cryptocurrency's mysterious creator, Satoshi Nakamoto.

Unikoin Gold, the cryptocurrency used by a Mark Cuban - backed startup, fell 43 % to 67 cents.

Just over a month ago Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG, and State Street joined UBS and BNY Mellon in a project to launch a cryptocurrency — the «utility settlement coin» — set for a limited back - end run by 2018.

As cryptocurrencies are not backed by government, several authorities fear they may be used for illicit activities like money laundering.

President Trump has also banned Americans from buying the Venezuelan government's «Petro» cryptocurrency, which is supposedly backed by the South American country's oil reserves.

Global regulators are split on how to police the cryptocurrency, which is not backed by a central bank.

For starters, cryptocurrencies aren't backed by a government institution, making them completely decentralized.

With Deutsche Bank suggesting that the recent rise in cryptocurrency prices may be directly attributable to instability in those tokens» values, now is a good time for everybody, especially newcomers, to take a step back and think about what they expect to gain by buying these digital assets.

CARACAS Venezuela is preparing a new cryptocurrency called «petro gold» that will be backed by precious metals, President Nicolas Maduro said on Wednesday, a day after launching an oil - backed token that has been panned as a pipe dream by blockchain experts.

After previously outlawing ICOs in September 2017 in a government crackdown, China began exploring its own cryptocurrency initiatives, including a state - backed cryptocurrency currently being examined by the PBoC's Digital Currency Research Institute.

I dabbled in the cryptocurrency space in 2011 by messing around with mining bitcoin, but back then I was more interested in it from a technological perspective vs. as an actual investment asset class.

Back in January, we covered some of these basics by examining what cryptocurrencies are, and why they were developed, then proceeded to examine the advantages and disadvantages of the blockchain technology that underpins most digital currencies.

Rather than existing on a blockchain, as most have come to expect of cryptocurrencies, the E-Coins were located on QUID PRO QUO's own servers, and in spite of the Association's claim that 80 percent of the currency was backed by tangible assets, «the actual percentage was significantly lower.

Ripple, for its part, for a time was the second most valuable cryptocurrency, with a market cap that topped $ 100 billion earlier this year, and has pulled back by about half since then.

Unlike the old days, where information was created, controlled, and distributed by only a handful of parties, failing to reach the masses and disguised in hidden agenda, cryptocurrency and blockchain places information and power back in the hands of the user — allowing or non-traditional (and modern) methods of dissemination.

ICX is backed by several government organizations and institutions, and building on the fervent Korean enthusiasm for cryptocurrency — at one point, Korea was transacting nearly 40 % of Ethereum's worldwide trade.

In November, the FBI charged Brooklyn businessman Maksim Zaslavskiy with securities fraud and conspiracy to commit securities fraud for allegedly bilking investors out of $ 300,000 through an ICO scam called REcoin which he claimed was «the first - ever cryptocurrency backed by real estate.»

Because spending cryptocurrencies are still limited to specific instances, most people who know how to invest buy cryptocurrencies on a cryptocurrency exchange and then convert them back into a more spendable currency by selling them.

The early investor in Skype, Hotmail, and Tesla bought some 30,000 units of the largest cryptocurrency by market capitalization back in 2014 in a U.S. Marshals Service auction and revealed that

Markets for ether, the cryptocurrency linked to the ethereum distributed computing platform, were rocked yesterday by a huge flash crash that saw prices fall from over $ 365 down to as low as 10 cents on one exchange before bouncing back shortly afterwards — an event that is mildly worrying for anyone concerned about cryptocurrency volatility, but has had devastating consequences for some professional traders who have seen their holdings wiped out.

Bitfinex, for its part, has been subject to widespread speculation regarding its solvency and activity related to Tether, an embattled cryptocurrency allegedly backed by cash reserves.

The market bounced back on Wednesday with IOTA leading the top 10 cryptocurrencies with a 17 % gain by the end of the trading day.

However, this is one of the earliest cases of a cryptocurrency backed by a national government.

While the dominance of the currency may no longer be as much as it used to be back in the early days of cryptocurrencies, Litecoin is still the 5th largest cryptocurrency by market cap and a major player in the markets.

Most cryptocurrencies which are backed by a strong development team, a growing community and a number of interested investors...

Tether, or USTD, is linked to the US dollarThis week the SEC closed down Texas - based AriseBank — an outfit claiming to offer cryptocurrency banking backed by the Federal Deposit Insurance Corporation - which had intended to complete an initial coin offering (ICO) in January.

Over 80 % has been gained by XRP and the association has made more poignant partnerships so it is only a matter of time before the cryptocurrency is back over a dollar.

Importantly, the adoption of SegWit by exchanges got here solely after the complete cryptocurrency group clamored for it in a bid to cut back bitcoin charges.

By Feb. 7, Bitcoin had once again ascended past the $ 8,000 mark on cryptocurrency exchange Bitfinex, and — despite a few brief dips back into sub - $ 8,000 territory — it has held above that mark since.

OZcoinGold is the self - proclaimed first next - gen cryptocurrency backed by 100,000 ounces of 100 percent 24 karat gold.

One of the biggest issues many traditional investors and people have when discussing cryptocurrency is that, for the most part, it's backed by literally nothing.

Among the first publicly traded companies offering investors access to blockchain technology and cryptocurrency mining data centers, backed by over a century of expertise in technology, finance, and business.

And in that sense, it's better to have or to be into cryptocurrencies which are either backed by some type of commodity like gold or perhaps just private based relative to government fiat based cryptocurrencies.

ShapeShifts simple - to - use exchange plays an important role in the cryptocurrency ecosystem, and its extensive API is used by many third parties as the back - end to power services helping to provide liquidity to cryptocurrencies.

Tether is a cryptocurrency that claims to be backed by one US dollar for each of its token issued.

enezuela has offered India a 30 - percent discount on crude oil purchases, but only if India agrees to pay in El Petro, the cryptocurrency that Venezuela is touting as the first national digital currency backed by crude oil reserves.

It's a coin backed by 55 % Bitcoin and 10 % Ether in order to gain access to returns from the cryptocurrency boom but which is also hedged with 35 % gold, so it can ride the downtimes more smoothly than other investment coins.

Tether is a cryptocurrency project focused on providing price stable assets on the Bitcoin blockchain that are pegged to the value of and backed by national currencies.

Finova's token will carry the unique attribute of being linked to a share of equity in Finova and will provide for an ERC - 20 Ethereum token standard that can not only be traded in cryptocurrency but is also backed by assets in a U.S. corporation.

Cryptocurrencies are sometimes exchanged for U.S. dollars or other currencies around the world, but they are not currently backed nor supported by any government or central bank.

Venezuela has followed suit, announcing the creation of El Petro, a state - sanctioned cryptocurrency to be backed by Venezuela's extensive reserves of crude oil.

The exchange was established in May 2017 by an experienced team of blockchain and cryptocurrency professionals who started developing and building the exchanges architecture back in 2011.