Ell Kellie's Cryptocurrency?

The mystery of what cryptocurrency really is and what the future holds for it is another trait of Bitcoin that resembles the buildup of the Tulip mania bubble. A sense of mystery was created from the colors being unknown for the tulips that were cross bred which assisted in pushing up the values of tulips. With the U.S Securities and Exchange Commission (SEC) and Commodity Futures Trade Commission (CFTC) taking opposing views on whether Bitcoin is a commodity or security, the air of mystery due to weak regulations has contributed to its price instability. It can be expected that the bubble will burst as Bitcoin will increase in the near future. When? That’s the million dollar question. As the Bitcoin market surges, it has attracted increased public attention and everyone wants a piece of the pie. As a result, the market value of Bitcoin increases exponentially. There are approximately 16 million bitcoins in circulation today from a total of 21 million. With 5 million or less left to be mined, it makes Bitcoin mining very competitive

The PESTEL analysis will be used to examine the cryptocurrencies in the Political, Economic, Social, Technological, Environmental and Legal aspects

Federal Reserve Chair, Janet Yellen, spoke at the Economic Club of New York yesterday. As a result of this speech, the stock market jumped and the dollar depreciated. Chelsey Dulaney of the Wall Street Journal reported that, "The WSJ Dollar Index, which measures the buck against a basket of 16 currencies, fell 0.4% to 86.65. The euro rose 0.3% to $1.13295." The key part of Janet Yellen's speech that triggered the dollar depreciation was when she said:

Cryptocurrencies are “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank” (google dictionary). Cryptocurrencies are very efficient, reduce risks, and simplify/accelerate legal relations. Furthermore, cryptocurrencies have more security than a normal bank and have no use of credit or debit cards. If a legal problem were to happen were a hacker where to hack into an account and steal someone's money, then the administrators can trace the money to the person who stole it and give them back their money. Cryptocurrencies as time goes on also become more and more valuable like for example $100 worth of bitcoins in 2010 is now worth 75

Blockchain technology innovation is proliferating in the hedge fund industry. Blockchain technology plays a primary role in front office and investment functions, in the securing of crypto assets, but also in private investment fund managers’ attempts to satisfy the growth expectations of clients. Although the use of blockchain technology in private investment fund strategies is still in its infancy, as it evolves and accelerates, the associated innovation benefits promise lasting change for the industry.

In regards to investing in stocks, bonds, currencies, or other investment products, it has always been a normal emotion to be happy when a stock price rose and upset when a stock price fell. Yet for Warren Buffet and his team at Berkshire they welcome these declining prices because of the opportunities it brings. According to Warren Buffet, a true investor would be buying stocks and businesses for their entire life, and “with these intentions, declining prices for businesses benefit us, and rising prices hurt us.” Understanding that the investor is going to be a buyer for eternity an investor should

I am still yet touched or get involved into the cryptocurrency currently, maybe will give a try if Bitcoin drop back to the dip level, about $700.

The citizens who had the foresight to purchase those coins did not see their wealth disappear as more and more banks went out of business and people lost their savings. While that may seem like a worst case scenario, it is not impossible.

Another point is the speculation that has been running around is that people think that they should start buying things with dollars. The reason of this is that it’s value will increase and this makes people buy more because they think they will earn more

We take the position that digital currencies are a fad. As argument, we try to clarify the definition of currency in general and explain what a "digital currency" really mean. Than we examine the arguments for the digital currencies and at the end we present the evidences of perils of digital currency.

The hidden power behind cryptocurrency is blockchain technology, which is as tough to recognize as it is to discuss. There are definitely in-depth descriptions of exactly how blockchains work offered, yet generally, each is built on an openly

Bitcoin has no value of its own contrary to what many argue. Its value is derived by the number of people adopting it and pouring their money into the BTC ecosystem. Investments by deep-pocketed investors like Winklevoss twins (estimated BTC stake around 11 million USD back in April), Chamath Palihapitiya, ex-Facebook executive and early employee, who has already dropped $5 million into BTCs and has plans to invest another $10 million are the reasons for skyrocketing price of bitcoins [3] [4]. Add to this, the publicity and trust in the system they are generating. Bitcoin's future potential was a hot topic this October at emTech, an MIT conference on emerging technologies [5]. Considering BTCs more as a start-up rather than a currency, its growth curve makes more sense but unlike a start-up it’s not generating any value itself but gaining people’s trust. And that’s what gives it value.

Digital currency speculators are often seduced by the siren song of quick profits. Over the past few days Bitcoin mania seems to be frothing at an increasing rate. Over the weekend digital currency searches were among the top searched apps on Apple’s App Store and one of the most prominent Bitcoin investing websites had trouble keeping up with demand. There are of course stories of high school drop outs who have become Bitcoin millionaires. Stories of Bitcoin that has been stolen. And even more astonishing, news stories of individuals mortgaging their homes so its equity could be invested in Bitcoin. Additionally, this week the Chicago Board Options Exchange (CBOE), the world’s largest options exchange, launched futures contracts on Bitcoin… so it seems that traditional financial institutions have now found a way to profit on Bitcoin speculation, a party they have largely been kept out of.

Litecoin – is the second largest cryptocurrency in terms of capitalization in the market today. It reached a market cap of $1 billion by the end of the year, 2013. The litecoin was primarily created as an improvement to the Bitcoin, the market leader. Among the added features are - mining capabilities with the use of an ordinary desktop computer, faster processing time (2.5 minutes versus 10 minutes for Bitcoin), and a maximum limit (84 million versus 21 million) which is four times more than Bitcoin, its leading rival.

To start off primarily, Bitcoin is a digital currency as opposed to physical currency that we’re accustomed to and use in our daily life. Straight off their site, Bitcoin is described as a pseudo-anonymous, P2P technology operating with no central authority or banks, it’s open-source, public, owned by no one and open for everybody to take part; but what does that all mean? “Bitcoin is the leader in a new generation of emerging currencies known as “cryptocurrencies” which aim to, among other things, facilitate the movement of money electronically while still maintaining a sense of privacy,” (Hobson)