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Given the hype and ironic humor around its release, the currency attracted a cult following among cryptocurrency enthusiasts. Undaunted, West’s legal team filed suit, compelling the creators to sell their holdings and shut down Coinye’s website.
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But that doesn’t mean it’s completely secure in the same way most people consider the U.S. dollar or other established currencies to be secure. Since cryptocurrency isn’t backed by any governmental authority, it doesn’t have the same protections as many standard currencies throughout the world.
However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
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Initial Coin Offering. In an ICO, an entity issues virtual coins, often called tokens, to raise capital. A “token sale” is simply distributing a new cryptocurrency to investors, who typically pay for the tokens in bitcoin or another established cryptocurrency.
Bitcoin’s latest big jump also isn’t anything new. “While in the long-term Bitcoin’s price has generally gone up, we experience a lot of volatility along the way,” says Kiana Danial, founder of Invest Diva.
Bitcoin was trading 1.5% lower Thursday morning. The price was around $59,000 per coin.
In an exclusive interview with Cointelegraph, Peng Zhong, CEO of Tendermint, the core developer of the Cosmos blockchain, discussed recent cutting-edge advancements in the ecosystem.
India’s Parliamentary Standing Committee on Finance has listed a meeting with the leading crypto players in India on its age...
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It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
An interesting avenue to explore is the wavelet coherence between different cryptocurrencies, allowing any relationships between different cryptocurrencies to be detected and documented. Relationships between different cryptocurrencies would be of interest for those searching for diversification within cryptocurrency markets, especially to those managing a portfolio of cryptocurrencies.
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Buying interest in options tracking cryptocurrency ‘exploded’ after launch of bitcoin exchange traded fund
Bitcoin’s new all-time high at $69,000 and Ether’s slow climb toward $5,000 are clear signals that bulls are in control and a hint that altcoins intend to follow.
“Everybody’s definition of a headquarters of a company is different. When you ask how you define a headquarters --- is that an office where people sit? I worked from home for the last three and a half years. Our leadership team are not sitting in one office, we don’t have a clear place where we can go, by most people’s normal definitions of a headquarters that we can call a headquarters. So, when people ask me, I don’t want to give them a wrong answer just to satisfy their definition.”