Author: Justin Szilard

Tim Draper: The World Needs Cryptocurrency

Tim Draper has stated that he believes we need a world currency, and a cryptocurrency may be perfect for that role. Draper, a VC investor and founder of Draper Fisher Jurvetson, realized that “the world needs this new kind of currency” after cryptocurrency survived and surpassed the price lows of the 2014 collapse of the biggest Bitcoin exchange, Mt. Gox. Draper got into Bitcoin as an early adopter and has only become more confident in cryptocurrency over the years. Draper supported his crypto world currency argument by emphasizing that cryptocurrency helps the unbanked, which currently amounts to 2 billion people. He said...

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Telegram Malware Mobilized to Maliciously Mine Monero and Zcash

Malware in Telegram has utilized the app to mine Monero and other cryptocurrencies. BleepingComputer reports that the popular secure messaging service, Telegram, has been used to spread malware that primarily mined Monero, Zcash, and Fantomcoin, but in some instances also downloaded backdoor trojans and other spyware tools. Hackers utilized a zero-day vulnerability for months that was first discovered in October of 2017, but has since been fixed according to Kaspersky researcher Alexey Firsh. This recent news emphasizes the need for vigilance and to always be skeptical of downloads, especially those of unknown origin. Malware spread by tricking users As BleepingComputer cites...

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Japan Central Bank: Cryptocurrencies Are Not Competition

Recently, Haruhiko Kuroda, the Governor of the Bank of Japan called cryptocurrencies “crypto-assets” and said that “cryptocurrencies are not a threat to the Yen and he doesn’t see them as a danger to existing legal tenders anytime soon,” as crypto-lines reports. However, central bankers have various and conflicting opinions on the issue, leaving potential investors across the world without clear guidance as to a future consensus on the issue. At present, cryptocurrency retains an aspect of volatility, as noted by Kuroda’s and other central bankers. However, that may change as the ecosystem matures. As cryptocurrency’s practiical use for everyday commerce...

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How Volatility Negatively Affects Cryptocurrency, and How To Avoid It

The cryptocurrency market has been enduring a lot of price volatility over the past few months. Many not in the crypto space are taking advantage of this transient phrase to preach from their pulpits that cryptocurrency is a “bubble” or a “ponzi” scheme. However, others recognize that the complete story is much more complex. Sopnendu Mohanty, chief financial technology officer of the Monetary Authority of Singapore (Singapore’s Central Bank) said in an interview with CNBC “the speculators and the people who are making money out of this speculation of the cryptocurrency (market) are perhaps negatively impacting the whole experimentation of...

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O Bitcoin, Where Art Thou?

Bloomberg posits that criminals are leaving Bitcoin to adopting faster, cheaper, and more privacy-centered coins, citing a study conducted by Recorded Future. Over the past year, Bitcoin has lost usage and market cap dominance to the tune of 50%, according to Coinmarketcap.com due to long transaction times and high transaction fees. Recorded Future argues that Litecoin and Dash are among Bitcoin’s top potential replacements among law evaders. The article’s graph shows that the second and third most favored cryptocurrency is Litecoin (30%) and Dash (20%), respectively, among dark web sites that accept alternative payments. Ryan Taylor, Dash Core Group Inc.’s...

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