Bitcoin continues to attract enormous attention from investors, but it is not the only cryptocurrency in existence. As fears grow that Bitcoin's rapid growth was little more than a bubble, more and more people are starting to consider its rivals. There are now hundreds of cryptocurrencies and, while they have significant differences, all are based on blockchain technology. A blockchain is a method of record-keeping that uses a network of individual computers to store a log of transactions, and verify new transactions, without the involvement of a central organisation such as a bank. The top five largest currencies change regularly as prices of individual currencies fluctuate, but these are some... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per … [Read more...] about Ethereum, Bitcoin Cash, Ripple and Litecoin: here are four of Bitcoin’s closest rivals
Bitcoin may have caught all the attention last year with its gravity-defying run, but another cryptocurrency was catapulted into view with an even more aggressive price spike. Litecoin, a digital currency founded two years after Bitcoin, has shot up more than 8,000 per cent in the past year, a faster rise than the price of Bitcoin's which has topped $19,000 from around $1,000 in January. Litecoin shot to more than $325 on December 11, up from around $4 at the start of the year. However, it has fallen back to about $120 since then. Growing interest in Bitcoin has boosted other cryptocurrencies, such as Ethereum and Litecoin, as they are caught up in the craze. Some users are thought to be buying... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per … [Read more...] about Litecoin: The Bitcoin rival whose price has risen five times faster than its big brother
Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing at the start of 2018. But bitcoin appears here to stay, at least for the time being. The price has remained steady in recent weeks, although it has yet to reach close to the high points of last year. Although it remains well below its peak of $20,000, it has remained around $7,500 (£5,650) over recent months. There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in. It all leaves investors with a slew of questions.... Register or log in to view this and other Technology Intelligence articles. It's free and easy to do. Access brilliant stories, features and analysis Sign up to our exclusive Technology Intelligence daily newsletter Become part of our ambitious new Tech … [Read more...] about What is bitcoin, how does it work and what affects its price?
The rise of digital cryptocurrency Bitcoin has been spectacular. Defying dire warnings from governments, regulators and central banks the price has accelerated in recent weeks as an ever-growing base of buyers have piled in. The resulting volatility has been extreme: the price frequently moves by more than 10pc within hours - sometimes less. It is not the only cryptocurrency, but is by far the best known. The chart below shows how the price of Bitcoin (as measured in US dollars) has changed during the past 12 months. Investors from all walks of life have caught the bug. The Winklevoss twins Tyler and Cameron, made famous after successfully suing Facebook founder Mark Zuckerberg, are thought to be the first Bitcoin billionaires after buying $11m worth in 2013 – now worth more than $1.6bn. Speculators of more modest means also made thousands last year as the price climbed by more than 1,500pc since January, smashing through $18,000 in December. Holders are … [Read more...] about Bitcoin price tracker: live chart
Sunday on Last Week Tonight, John Oliver waded into the complex world of cryptocurrency. His conclusion? Buyer beware. In an illuminating 25 minute explainer — if not complete takedown — on the “cult-like” phenomenon, Oliver summarized bitcoin and its ilk thusly: “Everything you don’t understand about money combined with everything you don’t understand about computers.” The HBO satirist joked that crypto’s many enthusiasts see bitcoin as the path to, “financial freedom, bro.” But Oliver offered a word of caution. “If you choose to invest in the cryptocurrency space, just know that you’re not investing, you’re gambling,” Oliver said. “Which is fine, but you should know that that is what you’re doing. And prices do go down. Bitcoin could eventually be worthless, or it could be worth billions and adopted as a new global currency.” Oliver is more than a little skeptical of the latter … [Read more...] about John Oliver Takes On ‘Cult-Like’ Bitcoin Craze in Hilarious Monologue: ‘Financial Freedom, Bro’