Crypto Currency

2018 was crypto’s year of reckoning, but there’s hope ahead

2018 has been a tough year for cryptocurrencies.  As I write these lines, the prices of major cryptocurrencies such as Bitcoin, XRP, and Ethereum are the lowest they’ve been in over a year. The price decline, which started roughly in January, has been relentless: The cryptocurrency market cap shrunk from its all-time high of about…


2018 has been a tough year for cryptocurrencies. 

As I write these lines, the prices of major cryptocurrencies such as Bitcoin, XRP, and Ethereum are the lowest they’ve been in over a year. The price decline, which started roughly in January, has been relentless: The cryptocurrency market cap shrunk from its all-time high of about $830 billion to just over $100 billion. The sentiment on crypto-related chats, groups, and subreddits is grim: Everyone expects the prices to fall further. Some vocal critics, like Nouriel Roubini, are gloating over what they see as annihilation of the crypto bubble. 

Perhaps even worse than the falling prices is the uncertainty over where crypto’s headed next. Bitcoin (and its derivatives) failed to become the new money (or even new gold), and it doesn’t look like that’s changing anytime soon. Ethereum’s vision of becoming a global, decentralized computer is plagued by obstacles and likely many months away, and the ICO craze that fueled its growth appears to be over, at least for now. And numerous cryptocurrency projects, even well-funded ones like ConsenSys and Bitmain, are laying off staff due to the cryptocurrency market’s decline.

And yet, there’s hope ahead. 

While the cryptocurrency bubble appears fully deflated on most charts, if you look closely, the prices of Bitcoin and Ethereum are still far, far above than what they were just two years ago. 

Total market capitalization of cryptocurrencies.

Total market capitalization of cryptocurrencies.

Image: coinmarketcap.com

In May 2017, the value of Ethereum and Bitcoin soared, propelling the total market cap of crypto to $80 billion. And back then, the experts were mostly in agreement: That sort of growth isn’t sustainable, and the entire space is likely in a bubble. The bubble kept growing, but to be fair, there was no sane reasoning behind that growth except greed and the type of reckless optimism that borderlines with madness. 

This could, of course, mean that the prices could plummet even further. But if you look at the cryptocurrency space as an exciting, new technological playground instead of a big casino, you’re probably well aware that even the current prices aren’t earned. Cryptocurrency might one day disrupt finance, online betting, gaming, logistics, and content creation, among other industries, but none of that has happened yet. 

The sentiment

Read More

Be the first to write a comment.

Leave a Reply

Crypto Currency

How much do you know about blockchain, cryptocurrency, and Bitcoin?

How much do you know about blockchain, cryptocurrency, and Bitcoin? mashable.com


How much do you know about blockchain, cryptocurrency, and Bitcoin? mashable.com
Read More

Continue Reading
Crypto Currency

The trailer for ‘CRYPTO’ just dropped, and cryptocurrency is good now

With all the exit scams, weird meat obsessions, and cantankerous fan-boy culture, the world of cryptocurrency is kind of a drag. And that’s without even touching on the current and persistent bear market.  But all that has changed, denizens of the internet. Cryptocurrency is good now, and we owe it all to the trailer for…


With all the exit scams, weird meat obsessions, and cantankerous fan-boy culture, the world of cryptocurrency is kind of a drag. And that’s without even touching on the current and persistent bear market. 

But all that has changed, denizens of the internet. Cryptocurrency is good now, and we owe it all to the trailer for the upcoming crypto-themed action flick starring none other than Snake Plissken himself. Say hello toCRYPTO, the film that, like its eponymous subject matter, features a bunch of idiots fighting over bullshit and terrible security practices. 

The trailer for the film, featuring an appropriately bedraggled Kurt Russell, hit the internet on March 11 and oh boy did it get our blood flowing. Go ahead and take a peek. We’ll wait. 

Breathtaking, right? Did you take a moment to bathe in the reflected glory of Luke Hemsworth and Alexis Bledel. Yes? Good, let’s move on.

The story, as much as there appears to be one, follows an anti-money laundering expert’s trip to small town America and a subsequent run in with the Russian mob. But put that aside for a moment, and let’s focus on the verisimilitude of the thing. 

It can only go up.

It can only go up.

Image: screenshot / “crypto”

From the amazing file labeling system (hello “KICKBACKS”), to the apparent Coinbase knockoff DELTA COIN listing bitcoin cash at $983.74 (which, LOL),CRYPTOproves that the true cryptocurrency

Read More

Continue Reading
Crypto Currency

9 Questions for Facebook After Zuckerberg’s Privacy Manifesto

presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be…


presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be one where everyone connects openly together, as in a town square; it will be one where more connections happen one to one, as in a living room. Instead of data permanence, data will disappear.

Facebook isn’t putting the current platform—worth roughly half a trillion dollars—in the garbage disposal. As Zuckerberg made clear in a Wednesday afternoon interview with WIRED, Facebook as we know it now will still exist. But it will change. And there will also just be something new.

It’s unclear the extent to which Facebook will ultimately push users toward privacy, and in what exact ways. But Zuckerberg controls Facebook, and his manifesto will make its gears start to turn in different directions. As that begins, here are nine important questions the company will have to think through.

1. Facebook knows how to make money in the town square. How does it make money in this new living room?

Private, encrypted messaging is hard to monetize. In our interview, Zuckerberg demurred when asked what the new business model will be after clamping down on the data firehose. The company would, he said, build the product first and figure out the financials later. Facebook does have nascent efforts in commerce and cryptocurrency, but there’s no question that figuring out revenue on the new platform will be a hard problem for Dave Wehner, Facebook’s chief financial officer. A former Facebook employee told me last night, “Mark is like a cartoon character who walks through a bunch of dangerous situations and always comes out on top. Dave is the guy running behind him catching the cat, stopping the ladder from tipping, deflecting the flying axe with a manhole cover.”

2. What does this do to safety on the platform?

Facebook rightly faces endless criticism for all the data it collects. But there are benefits to data collection as well. It can help stop bullies, or even potential suicides. Once those communications become private, Facebook no longer has the same powers to track and moderate. The public—from the media, to nonprofits, to academics, to individuals, to the government—also uses the public nature of Facebook to track bad behavior. If Russian intelligence operatives had just used private encrypted messaging to manipulate Americans, would they have been caught? As Facebook knows from running WhatsApp, which is already end-to-end encrypted, policing abuses gets ever harder as messages get more hidden.

In our interview, Zuckerberg explained that this, not fears about the business model, is what keeps him up at night. “There is just a clear trade-o

Read More

Continue Reading
Crypto Currency

Cryptography experts are already laughing at ‘Facebook Coin’

Facebook’s rumored cryptocurrency project hasn’t even launched, and yet it’s already a punchline for the tens of thousands of security professionals, cryptographers, and researchers gathered at the annual RSA conference.  On March 5, in the San Francisco Moscone Center, the hotly anticipated Cryptographers’ Panel met to discuss the future of cryptography, the internet, and e-commerce.…


Facebook’s rumored cryptocurrency project hasn’t even launched, and yet it’s already a punchline for the tens of thousands of security professionals, cryptographers, and researchers gathered at the annual RSA conference. 

On March 5, in the San Francisco Moscone Center, the hotly anticipated Cryptographers’ Panel met to discuss the future of cryptography, the internet, and e-commerce. Of course cryptocurrency came up, with a mention of the so-called Facebook Coin drawing perhaps the biggest laugh of the talk. 

Speaking of the problems inherent in putting even great research ideas into practice, panelist and cryptography expert Paul Kocher (known for, among other things, co-discovering Spectre) told attendees that the blockchain only makes things trickier. 

“[The] idea of combining Bitcoin’s theft mitigation and Facebook’s privacy seems particularly toxic for users.”

“When you add the froth of blockchain into there, these just sort of things that seem crazy just keep amplifying,” he explained. “I think the latest one that I saw is one where you can take Bitcoin where you can lose your money, Facebook you can lose your privacy, and now t

Read More

Continue Reading