Cryptocurrency is bad imitation of money and not the solution for a cashless society. This is the opinion of one of the members of the Governing Council of the European Central Bank (ECB), Benoit Coeure. He points out that virtually no one determines prices in Bitcoin, and cryptocurrencies is rarely used as a means of

The Governor of the Bank of England Mark Carney called for tougher regulations on digital currencies to put an end to their “anarchy”. According to him, it is now time “the environment of cryptocurrencies to be subjected to the same standards as the rest of the financial system”. Mark Carney also said that cryptocurrencies currently

The Bitcoin failed as a currency, measured by default criteria, and has no value nor a useful way to buy things, revealed the Governor of the Bank of England Mark Carney. “This has largely failed so far … in terms of traditional aspects of money. It’s not a value store because it’s everywhere. No one

Venezuela attracted 735 million USD on the first day of selling its own cryptocurrency Petro, revealed the country’s president Nicolas Maduro. The initial coin offering (ICO) aimed to bring the country out of the economic crisis. Maduro hopes that oil will allow the affected OPEC member to compensate the US sanctions, while the currency Bolivar

Cryptocurrencies are still an emerging asset class and may lose a lot of their value. This was stated by the creator the Ether, Vitalik Buterin. Cryptocurrencies have rebounded slightly from their sales in recent weeks, when they lost at least 100 billion USD in market value within one day. Last week, the bitcoin again reached

Anyone who’s spent at least a few minutes on Reddit in the last few weeks has probably run into a few users sharing Dogecoin memes. The Dogecoin subreddit is hosting a video contest with a pretty impressive prize pool (18 million Doge), and while I don’t personally invest in Doge, the contest caught my curiosity

The Italian cryptocurrency exchange BitGrail announced it has lost 17 million units of the cryptocurrency Nano, worth about 170 million USD. A message posted on the exchange website states that “internal sources reveal unauthorized transactions that have led to a shortage of 17 million Nano, which were part of the BitGrail-managed portfolio”. BitGrail has informed

Venezuelan Bolivar collapsed with between 86.6% and 99.6% after the central bank resumed currency auctions for the first time since last August as part of its efforts to alleviate the serious dollar shortage and attempt to tackle hyperinflation. At the new official dollar exchange platform DICOM, the rate is 25,000 Bolivar per USD, while EUR

The trade of Bitcoin has much higher energy consumption than traditional transactions, which increases the costs of transaction, according to Carl-Ludwig Thiele from Bundesbank. “Even if only one transaction of Bitcoin network takes about 427 kilowatt-hours, this amount of energy reaches the supply of electricity to an average German family for over a month”, explained

The Bitcoin is about to send its worst week since 2013 erasing 32% of its value and a market capitalization of 63.43 billion USD. Only within the day, the largest cryptocurrency dropped by 12.32% to 7,937.50 USD, reaching a 11-week low. In just 24 hours, 112.6 billion USD have been wiped out of the market