Like It Or Not, The Future Of Cryptocurrency Will Be Determined By Bureaucrats

from MIT Technology Review Denizens of the cryptocurrency world ought to get used to rubbing shoulders with regulators. The dark underbelly of the bonanza in initial coin offerings, rising concerns about the security of cryptocurrency exchanges, and a rush of “Main Street” investors to the scene have helped convince bureaucrats across the globe that cryptocurrency markets deserve a lot more attention. As a US Senate hearing illustrated this week, however, the question of how best to apply that attention is head-achingly complicated. Why you should care: The stakes are high, and not just because billions of real dollars are on the […]

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Two Founders Of Cryptocurrency Offering Arrested, Charged With Fraud

from ars technica The creators of an initial coin offering (ICO) once endorsed by Floyd Mayweather and DJ Khaled have been arrested and indicted on separate federal securities fraud charges brought by federal prosecutors and the Securities and Exchange Commission. Earlier this year, the SEC shut down another ICO, known as AriseBank. In 2017, according to the SEC, Sohrab “Sam” Sharma and Robert Farkas, who founded Centra Tech, managed to raise $32 million from thousands of people for their “CTR Token,” an Ether-based coin. The organizers had claimed in 2017 that they had a Visa and MasterCard debit card service […]

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Cryptocurrency Boom, A Problem For Gamers, Is A Bonanza For GPU Makers

from ars technica The cryptocurrency boom has created a persistent shortage of high-end graphics cards. That has been a headache for gamers, who have to pay inflated prices for GPUs—if they can find them at all. But it has been a financial windfall to leading graphics card makers Nvidia and AMD. On Thursday, Nvidia reported soaring profits for the fourth quarter of 2017—a period when rapidly rising prices for Ethereum and other cryptocurrencies was driving a boom in amateur cryptocurrency mining with graphics cards. “Strong demand in the cryptocurrency market exceeded our expectations,” Nvidia chief financial officer Colette Kress said […]

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Is There a Cryptocurrency Bubble? Just Ask Doge.

from NYTs Jackson Palmer no longer thinks it’s funny to imitate Doge, the internet meme about a Shiba Inu dog whose awe-struck expressions and garbled syntax (e.g. “Wow. So pizza. Much delicious.”) made him a viral sensationseveral years ago. But if he did, he might channel Doge to offer a few cautionary words for investors who are falling for cryptocurrency start-ups, Silicon Valley’s latest moneymaking craze: Very bubble. Much scam. So avoid. Mr. Palmer, the creator of Dogecoin, was an early fan of cryptocurrency, a form of encrypted digital money that is traded from person to person. He saw investors […]

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