The Death of Litecoin: Boom, Bust and Self-Destruction
Litecoin, the world's third largest cryptocurrency ($ 137,703,781 in marketcap) created in October 2011 by Former Google Engineer and current Coinbase Director of Engineering Charles Lee was popular among digital currency miners due to its implementation of a unique ASIC resistant proof of work algorithm called s-crypt (scrypt). ASIC stands for Application Specific Integrated Circuit and is used by miners to verify hashed transactions on litecoin and bitcoin networks. Due to the network's resistance to ASIC products, the number of miners rapidly increased and litecoin thrived for the past....
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Many experts believe that the US economy is headed into a recession, and that recession will almost certainly become a pressing issue for whoever the next president is (likely Trump or Clinton). Fears about the future recession have sparked a conversation about how the next president, whoever that may be, will handle it. The policy proposals could be....
Bob Swarup has extensive global experience in financial markets, macroeconomics and regulation, and recently released his new book Money Mania: Booms, Panics, and Busts from Ancient Rome to the Great Meltdown. Here, he presents his view on why bitcoin is fated to repeat the perennial cycle of boom and bust. It is human nature to believe that whatever happens to us is unique. Bitcoin is no exception to this rule. Discussions about bitcoin and its impact are everywhere at the moment. If you are a supporter, bitcoin is a digital messiah and an unprecedented paradigm shift in the evolution of....
Hungary plans to be the first country in the world to erect a statue of Satoshi Nakamoto, as a life-size bronze bust of Bitcoin’s creator will be displayed in Budapest. The bronze bust design is being constructed by two sculptors, Tamás Gilly and Réka Gergely. A Reflective and Hooded Bronze Bust of Satoshi Nakamoto to be Erected in Budapest A statue of Satoshi Nakamoto is being created to be erected in Budapest, Hungary when the project is complete. The creators of the bronze bust, Tamás Gilly and Réka Gergely, have recently revealed design plans for the....
Bitcoin price action might not reflect it, but the leading cryptocurrency by market cap could be massively undervalued, according to a variety of fundamental metrics that focus on coin issuance. These tools are widely known, but when combined paint a clear picture that backs up any chance that the top coin by market cap is actually undervalued at $40,000 per BTC. Speculative Boom And Bust Cycles And The Impact On Perception Of Value Any asset – be it stock, currency, commodity, or otherwise – goes through boom and bust cycles; bull and bear markets. These cycles are more rapid and take....