Cryptocurrencies Are Experiencing a Significant Drop in Value

Those who doubted virtual currency have had their worst fears confirmed: cryptocurrency’s value has plummeted 50 percent from its peak in early January, pushing Bitcoin, for example, below $7,000. Among the problems bedeviling virtual currencies are hackers, scams and Ponzi schemes. Now, the Securities and Exchange Commission and the Commodity Futures Trading Commission are scheduled to testify to the Senate banking committee about how they have been trying to corral cryptocurrency markets. Continue reading Cryptocurrencies Are Experiencing a Significant Drop in Value

Bitcoin Rival Ethereum Offers Online Markets, Smart Contracts

Although other alternative currencies have tried to gain traction as Bitcoin struggles with internal divisions, none have succeeded in doing so — until now. A rival virtual currency, Ethereum, has gained the interest of a wide range of finance and technology behemoths, including JPMorgan, Chase, Microsoft and IBM. As a result, its value has shot up 1,000 percent over the last three months. Built on a blockchain in which every transaction is publicly recorded as is Bitcoin, Ethereum promises to do more. Continue reading Bitcoin Rival Ethereum Offers Online Markets, Smart Contracts