Facebook’s foray into digital currencies risks reversing gains in privacy and user sovereignty won by computer networking pioneers, according to one of the co-founders of ethereum.
Bitcoin climbed past $9 000, to its highest since May 2018, as reports that Facebook is due to unveil a digital currency added to optimism.
Some of the brightest minds in America are pooling their brain power to create a cryptocurrency that’s designed to do what bitcoin has proved incapable of: processing thousands of transactions a second.
Cryptocurrencies dropped on Thursday as bitcoin gave up the $4 000 level it’s hovered around since the start of the year.
Bitcoin rallied above $4 000 on Friday, leading the broad cryptocurrency market higher as the biggest digital asset headed for its best week in a year.
The year 2018 has been a terrible one for cryptocurrencies, which have been on a race to the bottom that shows no real sign of abating.
New research commissioned by Luno shows there is a great deal of interest among South Africans in owning at least one cryptocurrency.
After the crypto crash, the industry wants governments to confer legitimacy on digital currencies whose enthusiasts originally boasted of being outside the system. For some operators, the alternative could be bleak.
Economist Nouriel Roubini, nicknamed Dr Doom for predicting the most recent global financial crisis, has crossed swords with cryptocurrency guru and ethereum founder Vitalik Buterin.
Bitcoin could finally be hitting a bottom before heading higher. The digital currency is lingering above both the price and trend lines and a buying divergence is forming, flashing a positive signal.