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Could Cryptocurrencies Replace Cash? Investopedia At the beginning of the cryptocurrency boom, Bitcoin seemed to be the unquestioned leader. Up until early this year, Bitcoin accounted for the vast majority of the industry's market capitalization; then, in a span of just weeks, Ethereum, Ripple, and ... Zen Protocol is the next step for cryptocurrency smart-contractsTNW Will the Bitcoin Fork Continue to Boost the Cryptocurrency's Value?TheStreet.com US Law Labels Cryptocurrency Illicit Finance TrendThe Merkle The Market Mogul -Business Insider -Bitcoin News (press release) all 109 news articles »

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Could Cryptocurrencies Replace Cash? - Investopedia

Graphics card (GPU) maker AMD is rolling out new software geared specifically for cryptocurrency mining.

As detailed on its website, the "Radeon Software Crimson ReLive Edition Beta for Blockchain Compute" is described as a beta-level driver aimed at improving the performance of GPUs used for mining, the process by which new transactions are added to a blockchain, creating new tokens as a reward along the way.

AMD's release comes amid a period of growing demand for GPUs, which is being driven by elevated prices in markets for cryptocurrencies like ether, the native currency on the ethereum blockchain.

Indeed, both AMD and rival chip maker Nvidia have been taking advantage of the boom for graphics cards.

Both companieshave issued statements on the subject in recent days, though in the case of AMD, the company has taken a somewhat bearish stance on the future of the cryptocurrency mining market.

Positions aside, the rush to acquire GPUs in pursuit of profits has had an effect on the revenues for both firms last week, Nvidia's CEO declared that cryptocurrencies are "here to say".

That said, therelease of the driver a piece of software that enables computers to communicate with hardware components signals that AMD is looking to keep miners around, at least in the near-term.AMD published the driver as a beta release, noting that it "will not be supported with further updates, upgrades or bug fixes."

ImageCredit:Faiz Zaki / Shutterstock.com

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AMD Releases New Software Package for Cryptocurrency Mining - CoinDesk

Cryptocurrency exchange ShapeShift has acquired bitcoin hardware wallet startup KeepKey.

Announced today, ShapeShift will continue to use the KeepKey brand, and its staff will stay on to continue working on the hardware product line. KeepKey had originally integrated with ShapeShift by way of its API last summer.

The deal the terms of which were not disclosed represents the first acquisition of a startup specifically focused on hardware products.

"This partnership will not only guarantee the future success of the KeepKey brand and product line, but joining the ShapeShift team will enable us to focus on continuing to work on developing better technology and security for crypto-holders,"Ken Hodler, KeepKey's chief technology officer, said in a statement.

The deal comes months after ShapeShift closeda $10.4 million funding round. At the time, the exchange drew on a list of backers that includedEarlybird Venture Capital, which led the round.

It also follows a move by KeepKey toend its supportlate last month for the long-running MultiBit bitcoin wallet. KeepKey first acquired MultiBitin May 2016.

Disclosure:CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in ShapeShift.

Key imagevia Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [emailprotected].

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Cryptocurrency Exchange ShapeShift Acquires Bitcoin Wallet Startup - CoinDesk

Zen Protocol (ZP) came out of stealth mode earlier this month to present an alternative to Ethereum. ZP is a platform designed to make moving Bitcoin and other assets with smart-contracts easier, more efficient, and friendlier to noobs where it matters: in their wallets.

Its integrated with Bitcoin and supports multiple assets. It was built from the ground up to do more than simply manipulate Bitcoin, though. ZPs website describes it as a blockchain for finance.

We chatted up the creator of ZP, Adam Perlow, to find out what made it different than popular cryptocurrency smart-contract platform Ethereum:

When we started Zen Protocol it came from this idea that we could probably do better than Ethereum. Then, once we really did our research, we knew we could definitely do something better. Weve always had this motivation to allow people to use Bitcoin easily.

What Zen Protocol does better is create a blockchain that eliminates some of the problems with Ethereum smart contracts, like running out of gas. For the uninitiated what this entails is sending a transaction that contains the correct currency amount, but not enough ETH (the gas in question). When this occurs, sometimes the result is that your transaction simply fizzles out and your initial currency is returned.

Other times, your currency ends up in limbo. One Reddit user found themselves out-of-gas and, at the time, out $32 worth of ETH. The whales out there might not care about losing $32, and others might point out that its a rookie mistake to move contracts without enough ETH, but at some point were all rookies.

And $32 worth of conventional wisdom will tell you that throwing away money is no way to get ahead in the finance game. With ZP, contracts wont try to execute unless the proper amount of gas is included, and miners know that cost beforehand.

Zen Protocol seems like it could be a better system, and its got all the right boxes checked. It runs parallel to Bitcoin, so if youre a ZP node youre a BC node. This ensures itll always be scaleable with BC, and support for external assets means smart-contracts can replace the need for any third-party accountability. Its secure; every contract comes with digital proofs.

We asked Perlow what the outlook was for ZP, cryptocurrency in general, and if the ICO bubble was going to burst:

One of the problems is people are financing the wrong things, theres a lot of mis-education. Theres a coin for everything, everyone saw that Bitcoin was really good at being money, so they thought lets do that. When, in most cases its probably better just to use Bitcoin. The ICO craze is setting up a straw-man argument. But cryptocurrency isnt going anywhere. If cryptocurrency fulfills its promise the blockchain will eliminate the idea that someone else has to hold your wealth.

Solving the gas problem alone makes ZP look like a viable alternative to Ethereum especially for people just now getting into the cryptocurrency market.

Keep in mind that ZP is new were not comparing its value to the actual market value of Ethereum. You should always do your own market research before deciding where to invest your money and what platforms you use for transactions.

Read next: Barack Obama's Charlottesville tweet is now the most-liked in history

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Zen Protocol is the next step for cryptocurrency smart-contracts - TNW

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By Team CommerceMashable Shopping2017-08-14 18:44:31 UTC

Want to get rich enough to fill bathtubs with dollar bills just for kicks? Could Bitcoin make that happen? Let's dive in.

When Bitcoin debuted in 2009, its early adopters bought up large amounts of the digital currency for pennies. Since then, Bitcoins value has increased dramatically, turning several of those initial investors into millionaires. But the economics surrounding Bitcoin and other forms of digital currency like Ethereum, Ripple, Litecoin, and most recently, Bitcoin Cash, all dubbed cryptocurrency, can be unpredictable and complicated.

One huge benefit to using cryptocurrency is that it can't be stolen or counterfeit. When digital currencies are exchanged, they're converted into illegible code that not only makes them secure but also makes the sender and receiver appear anonymous. Unlike normal currency, digital currencies are not government regulated. No high bank fees, no fluctuations based on government regulations, and no corrupt bank antics. Sounds pretty nice, right?

Unfortunately, with decentralization comes instability, and cryptocurrencies are known for being highly volatile and unpredictable. Like most high-risk investments, this leaves opportunity for reaching ridiculous levels of wealth (meaning you can finally blow your nose in hundred dollar bills).

For the average person to achieve success in cryptocurrency marketplaces, he or she will need to get learning. Thats where the Beginners Guide to Cryptocurrency Investing comes in. It will give you all the knowledge youll need to make smart choices and turn your physical cash into a sizable digital stash.

Over the course of 27 lectures and 2.5 hours of content, this program will teach you methods for investing in altcoins, how to maximize your return, and how to convert those coins back into real money. Youll learn about the various cryptocurrencies available and which is right for you and you'll dive into the digital currency community, gathering valuable research and insights along the way. Finally, youll be able to estimate the true value of the entire market and decide where and when to make your move.

Now is the time to make your digital fortune. Pick up the Beginners Guide to Cryptocurrency Investing for $15, an incredible reduction from the regular $180 price.

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The wild world of cryptocurrencyand how it could make you rich - Mashable

A new social network is paying users to post as long as their content is verified.

OnG.Social, the social media platform of parent company OneName Global, Inc., allows users to create posts using a centralized dashboard that can then distribute those posts on a users other social networks Facebook, Twitter, LinkedIn, etc. These posts are then authenticated by professionals.

In return for posting verified information, users will earnonG-Coins, an original cryptocurrency that rewards truth and seeks to block the spread of fake news. That idea caught on with Adrian Rosenbusch, a former UFC cutman who signed a sponsorship deal withonG.Social after meeting Chris Kramer, the CEO of OneName Global. After seeing what Kramer put into the company, Rosenbusch joined full-time in 2014 as Chief Visionary Officer.

Its a real passion project, which is really what drew me to it in the first place, Rosenbusch told SportTechie. Were having people evangelize our messages because they really believe in it. One such evangelist is Kenny Florian, a former UFC fighter.

On Monday, onG.Social offered its first shares ofonG-Coin in an initial coin offering that was pre-valued at $25 million, according to the onG-Coin website. The ability of users to make money off their posts was intriguing to many in the professional fighting industry, Rosenbusch said, because it allows them to share content about their lives and monetize it. It also gives a platform to fighters who want to start businesses but dont necessarily know where to start.

OnG.Social is backed by IBM after participating in the tech giants Global Entrepreneur program, Rosenbusch said. He added that IBMs pursuit of blockchain technologies goes hand-in-hand with onG.Socials mission. OnG.Social was live as a social platform before it entered the blockchain, but now uses the Ethereum and Waves blockchain platforms, which promotes extra security and reliability, according to a press release.

IBM, theyre busy right now with their own projects in blockchain, so were all doing our thing together. We all see in the same direction, Rosenbusch said.

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In its move to the blockchain, onG.Social will also include the APIs to decentralized social networks such as Steemit, Akasha, Golem, and MaidSafe, among others.

The key to onG.Socials core mission is the Gravity algorithm, which takes into account the validity and social impact of posts and awards cryptocurrency, according to the press release. Posts are validated by community experts for example, apost on a medical procedure would be deemed true or not by a doctor, Rosenbusch said and assigned a Gravity score that would make the post more or less visible.

The users whose posts have low or negative Gravity scores would not be silenced or shut down, as a low-performing channel might be by its corporate parent, but rather ignored by a majority of users.

That alone takes away so many of the problems you have with status-quo networks, where if youre just arguing for the sake of arguing, or posting negative content youll get a low Gravity score, you wont get shut down, Rosenbusch explained. Its all up to the user. Nobodys silencing your voice, but also nobodys paying attention to you.

Instead, Rosenbusch said, the companys goal is to bring people together, allow for the largest multitude of voices, and to protect users content.

The initial coin offering is open until mid-September, and investors who buy onG-Coin can vote, in Reddit fashion, on posts made on onG.Social. The social network is entirely free to use.

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From UFC To Fighting Fake News With Cryptocurrency - SportTechie

British police have arrested an individual for allegedly fleecing would-be investors viaa fake cryptocurrency investment scheme.

In an August 11news post, the City of London Police said that they had detained a man they believed was part of a group that was cold-calling people in the U.K. andoffering them cryptocurrency investments. The "boiler room" operation wasrun out of an office in the City of London, the capital's financial center, the report said.

But despite persuading some individuals to invest in the scheme,the cryptocurrency apparently never existed. The police saidthose involved were able to make160,000 (roughly $205,000) through the scheme.

According to the police statement, the unnamed individual is being charged with money laundering and conspiracy to defraud.

"Investment fraudsters are still targeting people throughout the country and they employ aggressive sales tactics which are often used to [pressure]unsuspecting victims into parting with large sums of money," inspector Mark Forster said in a statement.

An investigation into the scheme began earlier this year after some of the victims contacted Action Fraud, aU.K. fraud and cybercrime reporting service.

While the police statement didn't provide the name of thecryptocurrency touted by the fraudsters, past reports have indicated that police in London are investigating OneCoin acryptoinvestment scheme widely allegedto be fraudulent.

British police image viaJohn Gomez/Shutterstock

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'Boiler Room' Crypto Scam Targeted by London Police - CoinDesk

The value of all Bitcoins in circulation has grown by quite a margin these past few years. Going from a worthless cryptocurrency to a disruptive financial force has been a powerfulexperience for everyone who has followed Bitcoin since the early days. Moreover, we have seen other popular currencies emerge as well. Amazingly, the current overall cryptocurrency market cap is greaterthan the sum of broad money in the 64 poorest countries in the world. In other words, all of cryptocurrency is worth more than one-third of the countries on this planet combined.

The people who ignored cryptocurrency over the past few years will receive a wake-up call very soon. In fact, the value of all cryptocurrencies combined has taken on such proportions that it is difficultto remember none of these currencies had any value a decadeago. In fact, most of the cryptocurrencies in circulation today did not even exist a few years ago. A lot has changed in the world of money, to say the least.

At the time of writing, the total cryptocurrency market capitalizationis nearly US$139 billion. Earlier this year, that numberwas hovering well below the US$60 billion mark. A lot of money has been poured into cryptocurrencies these past few months, and it looks like the overall bullish trend will not berelenting anytime soon. There is still a lot of volatility incryptocurrencies, but things are slowly falling into place on a global scale.

Bitcoin is still the clear market leader. Its own market cap is nearly half that of the overall cryptocurrency market at themoment, and no competitor has even come close. This also goes to show that without all of thoseother currencies, the cryptocurrency market cap would be half of what it is right now. There is a clearly defined relationship between Bitcoin and all of the alternative cryptocurrencies in existence. So far, this system seems to be working quite well, despite the challenges encountered along the way.

Looking at the bigger picture, the total cryptocurrency market cap is larger than the sum of the stock of broad money in 64 countries aroundthe world. That may not saymuch to the average person, but it means all cryptocurrencies combined are worth more than one-third of all of the countries combined right now. This is quite a milestone for this fake internet money some people so readily dismiss to this very day.

This list of 64 countries includes regions with which manyreadersmay not be familiar. There is a lot of poverty in the world today and the graphic aboveillustrates that point perfectly. Most of the countries on this list are located in Africa and Middle America, which comes as no real surprise. It also includes nationssuch as Kyrgyzstan, the Maldives, Belize, Georgia, and Barbados. These are not the biggest countries in the world, but they suffer nonetheless fromthe same old problems caused by the current financial ecosystem which need to be addressed.

As ofAugust 14, Bitcoin has surpassed the US$4,150 mark for the first time, yet this may very well be only the beginning of its full growth potential over the next few years. Other currencies such as Ethereum, Dash, Monero, and Litecoin are only just starting to shine as well. In a few years from now, we could be talking about multi-trillion dollar cryptocurrency market caps. If that were to happen, cryptocurrencies combined would easily surpass the sum of the stock of broad money in over 50% of the worlds countries, if not two-thirds.

All of this goes to show cryptocurrency should not be ignored. Even though not everyone will invest in Bitcoin or altcoins nor should theyif they havent first done their research it is a good time to start paying attention to this industry. Cryptocurrencies may not displace traditional currencies anytime soon, but they are certainly making a lot of waves right now. It will be interesting to see how this situation evolves over the comingyears.

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Total Crypto Market Cap Is Greater Than Money Stored in 64 Countries Combined - The Merkle

Cryptocurrency has always been intriguingto governments aroundthe world. This is not for their own gain, but mainly because crypto is oftenperceived as a majorthreat to theireconomic and political power. A new foreign sanctions billsigned by President Trump could spella very difficult future for cryptocurrency as a whole. Under the law, specific foreign governments are asked to monitor cryptocurrency circulation to combat terrorism and illicit financial trends.

Every time a new piece of legislation is signed and turned into law,there is reason for concern. This has beenespecially true in the world of Bitcoin and cryptocurrency as of late. The so-calledCountering Americas Adversaries Through Sanctions Actmay bring a lot of problems to the cryptocurrency world in the near future. Among other things, the law coversanti-terrorist financing and combating illicit finance trends. It also touches oncryptocurrency in its current form, which is considered an illicit finance trend.

As a result of the new law recently signed by President Trump, severalforeign governments are requiredto take actionby monitoring cryptocurrency circulation within their borders. The countries affected by this directiveare Russia, North Korea, and Iran. Two out of those three would not seem to becausing significantproblems for cryptocurrency, as neither Iran nor North Korea is particularlyactive in the Bitcoin industry.

The exception is Russia, a country which has finally shown some appreciation for cryptocurrency in recent months. With thenew lawin place, the Russian government would effectively have to crack down on cryptocurrency usage once again. Although the U.S.proposal was designed to help counter terrorist financing, there has never been any evidence of cryptocurrency beingused to successfully fund such operations. For some unknown reason, governments are still eager to connect the two topics.

It is certainly true that cryptocurrencies have created new money flows which remain largely unregulated. That is a problem for any government, even though it has become clear that regulating cryptocurrency isa futile effort. The onlything governments can do is go after the companies who facilitate such transactions, including exchanges and brokers. Even then, cryptocurrencies can still be traced in a peer-to-peer fashion without relying on centralized platforms subject to governance.

The recently passed law callsfordiscussion of trends in illicit finance including forms of value transfer such as cryptocurrencies. Additionally, it requires the collection ofdata regarding cybercrime or other threats that may be identified by the U.S. government in the future. Thisis not the first time we have seen such adirective, as a similar proposal was made by the U.S. Department of Homeland Security in May 2017.

All of this goes to show that the U.S. government is willing to attackcryptocurrency as a whole. Specifically, the countrycontinues to impose its vision onother nationswhere Bitcoin can make a big difference, such as Iran, Russia, and North Korea. Having a global currency that could remove the need for the dollar is understandably a significantconcern for the U.S. It will be interesting to see how this lawimpacts cryptocurrency in the future if at all.

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US Law Labels Cryptocurrency Illicit Finance Trend - The Merkle

The working group on crypto currencies at Russias State Duma monitors Bitcoin price moves and still has to establish a common stance for all parties involved in the legislative process.

There has been some serious speculation about Russias plans to legalize Bitcoin and its likes. This has been due to a large extent to comments like those made by Russias Deputy Finance Minister Alexey Moiseev, who said in April this year that Russia may recognize bitcoin and other cryptocurrencies as legal in 2018. His comments were followed by more moderate statements, including ones by the Maxim Grigoriev, Chief of the Centre for Financial Technologies at the Bank of Russia, who said it was too early to talkof legalization of crypto currencies in Russia.

The latest news concerning the coming cryptocurrency legislation in Russia are in tune with the more sceptic stance on the matter.

In an interview with online news source Invest-Foresight, Elina Sidorenko, who heads the working group on cryptocurrencies at the State Duma, the lower chamber of the Russian parliament, said the bill for regulating Bitcoin and its likes is about to get delayed.

Ms Sidorenko explained that the bill, which was originally set to be ready in October, will be ready in the winter at the earliest. She mentioned several factors for the delay the need to establish a common position for all institutions involved in the process, as well as the recent Bitcoin price fluctuations, which raise additional questions about the vulnerability of crypto currencies.

Ms Sidorenko said that at present there are discussions on whether cryptocurrencies need a new law altogether or should an existing law (or laws) be amended to cover Bitcoin and its likes. In case of the latter, there has to be consensus on which law(s) should be amended.

Another important discussion topic is the nature of crypto currencies. There is disagreement on whether they should be treated as means of payment, derivatives, digital assets, etc.

Ms Sidorenko concluded that there is a chance that the cryptocurrency legislation will be passed into a law in 2018, but added that the timing depends on market developments.

In July this year, Russias Internet ombudsman Dmitry Marinichevalso commented on the coming cryptocurrency legislation in Russia, saying that it will partially resemble that of Japan, and will also have elements of the New York DFS licensing system.

Regarding Bitcoin trading, however, he was rather sceptic, and said that although the long-term perspectives for cryptocurrencies are good, he would not recommend to Russians to participate in Bitcoin trading in the near future, as the risk of loss is too high.

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Russian cryptocurrency legislation faces delays amid Bitcoin price ... - FinanceFeeds (blog)