Cryptocurrency happy world

When I think about Bitcoin, the best known cryptocurrency right now, I think of a quote from Warren Buffett. It's common sense really. And while Bitcoin and other cryptocurrencies have been around for quite a while, and have made lots of people rich, these two points sum up why I'm staying away. That is not to say that Bitcoin is going to collapse. It's just that Bitcoin doesn't make a lot of sense as an investment to me.

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Content:

• Indian crypto exchanges, influencers fall prey to hacks promoting crypto scam
• A joke between Elon Musk and McDonald's has given rise to a new cryptocurrency
• Hoping multibagger returns, crypto punters betting on penny coins
• What Are the Pitfalls of Investing in Cryptocurrency?
• Is cryptocurrency bad for the environment?
• What's next for bitcoin and crypto? The trends to watch in 2022
• Explained: Why has LGBT+cryptocurrency maricoin whipped up controversy?
• IMF urges El Salvador to drop Bitcoin as legal tender

WATCH RELATED VIDEO: Why did Bitcoin crash, and will it ever recover? Alex Mashinsky

Indian crypto exchanges, influencers fall prey to hacks promoting crypto scam

Over the past few years, the cryptocurrency market, which is still in its early stages, has gained a lot of momentum and has been drawing several young Indian investors' attention towards it. These days retail and institutional investors are keen to invest in digital currency for both - long-term and short-term - profits.

Undoubtedly, cryptos like Bitcoin, Ethereum blockchain are among the popular cryptocurrencies of which most people are aware. Young investors, who are willing to invest in the crypto industry, are confused about where to invest. However, just like the stock market, profit and loss are also part of the crypto industry and are subject to market risk.

Coins and tokens with rock hard fundamentals are still promising for further growth. Bitcoin, Ethereum, Cardano, etc have already become the most worthy candidates of the Crypto industry," he said.

He said that the Crypto space and alt investment sector are no longer oblivious to investors but has evolved into long mature market. Not just an haven for tech developers and nerds, even the institutional giants and traditional investors have started to put their trust and have amplified acceptance. High growth volume has proven this point.

Crypto Assets has attracted huge number of traders in India and around the globe," Manoj said. However, investing in the crypto market comes with its own share of risks and challenges. One needs to trade with caution and guide. Speaking about risks and challenges, he said that the industry like any other financial industry comes with some risks and challenges like a regulatory and legal issue, custody of assets and understanding the technology, but yet again the global acceptance is slowly eliminating such risk factors.

The industry has provided a booming space to all classes of investors and the growth is apparent in itself. Finance, said that the cryptocurrency segment has consistently captured the attention of the masses.

This kind of a market has shown appreciation for early-stage investments as opposed to mature stage investments such as in the case of an IPO, which further defines the easy money mindset sported by the cryptocurrency traders, without thinking long term.

Furthermore, certain inherent dangers stem from technological risks such as with Smart Contracts or any regulatory risks," he said. Manav Bajaj, founder, Panther Quant, said that cryptocurrency is undeniably one of the largest sector growing substantially and remarkably well, globally. Majority of this segment is unregulated and highly volatile which makes it extremely important for a retail trader to know where he is putting his money at," Bajaj said.

Here we are discussing some cryptocurrencies that have been topping the market cap charts time and again and can be good choices for your long-term investment. The Ethereum blockchain is rapidly gaining crypto and is almost always in competition with Bitcoin. Recently, ether's share in the crypto market recently rose from 18 per cent to 20 per cent. It is a decentralised blockchain platform that cuts out third parties. Cardano is also a decentralized blockchain platform that uses a native cryptocurrency.

It is notable for its early embrace of proof-of-stake validation. Cardano ADA enables secure peer-to-peer transactions.

Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin. Launched in , Ripple is one of the largest digital asset projects in the industry, with a market capitalization in tens of billions of dollars.

Ripple's total supply of billion XRP tokens still qualifies it as a low-value crypto asset. Currently, Ripple is used for cross-border payments by over banks and has an impressive transaction processing time with minimal fees. Dogecoin one of the meme coins, a cryptocurrency based on or inspired by memes.

According to its website, Dogecoin is an "open-source peer-to-peer digital currency, favored by Shiba Inus worldwide". Shiba Inu is a breed of hunting dog from Japan. DOGE coin has earned a high mining rate since its launch. Shiba Inu on Sunday soared to record highs over the weekend to become the 11th-biggest cryptocurrency by market value. Polkadot enables cross-blockchain transfers of any type of data or asset, not just tokens.

This currency provides a bridge for networks so that many applications built on Polkadot can also work on Ethereum and Bitcoin. However, it is more scalable and faster. Polkadot already has monetary value in exchanges, making it crypto worth watching.

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A joke between Elon Musk and McDonald's has given rise to a new cryptocurrency

In economics jargon, a fungible token is an asset that can be exchanged on a one-for-one basis. Think of dollars or bitcoins — each one has the exact same value and can be traded freely. A non-fungible object, by contrast, has its own distinct value, like an old house or a classic car. Cross this notion with cryptocurrency technology known as the blockchain and you get NFTs. They are effectively digital certificates of authenticity that can be attached to digital art or, well, pretty much anything else that comes in digital form — audio files, video clips, animated stickers, even a news article read online. Marina Picasso says the cherished pottery piece dates to October , when she was a child. It represents life

Hoping multibagger returns, crypto punters betting on penny coins

This week's crypto-panic is a perfect storm involving Chinese financial leaders and Elon Musk, which illustrates the risk of investing in both established cryptocurrencies like Bitcoin or Ether, and "shitcoins" or alt-coins like Dogecoin. The selling frenzy kicked off on May 12, when Tesla CEO and recent controversial Saturday Night Live host Elon Musk announced that Tesla had suspended their decision to allow people to buy cars using bitcoin. Musk cited environmental concerns about the bitcoin mining process, in which a vast decentralized network of computers across the world solve math puzzles to power bitcoin transactions. The drop intensified on May 18, after China banned financial institutions from participating in cryptocurrency transactions, and said that these institutions should not provide crypto services to clients. In the shitcoin realm of cryptocurrencies started essentially as jokes, with no real value , Dogecoin has gone on a wild ride. Musk used to be the poster boy for the meme-inspired joke coin, which takes its name from a meme of a Shiba Inu. Meanwhile, there's a new shitcoin sheriff in town. I don't know fucking why. It could be a Ponzi scheme," Portnoy said.

What Are the Pitfalls of Investing in Cryptocurrency?

Cryptocurrencies often tend to maintain a publically accessible ledger of all transactions. This open nature of the transactional ledger allows us to gain macroeconomic insight into the USD 1 Trillion crypto economy. We specifically focus on the aspect of wealth distribution within these cryptocurrencies as understanding wealth concentration allows us to highlight potential information security implications associated with wealth concentration. We also draw a parallel between the crypto economies and real-world economies. To adequately address these two points, we devise a generic econometric analysis schema for cryptocurrencies.

Is cryptocurrency bad for the environment?

Bitcoin dropped to a three-month low recently and its movement has closely mirrored financial markets in its decline. Bitcoin bulls often describe it as an asset that is uncorrelated to traditional financial markets, CNBC reported, however experts have noticed growing parallels in the price movements of Bitcoin and stocks. It also comes as Dogecoin co-founder Jackson Palmer wrote a lengthy Twitter essay about cryptocurrency preying on the most vulnerable. But do economists and financial professionals believe the allure of cryptocurrency is fading? Depends who you ask.

What's next for bitcoin and crypto? The trends to watch in 2022

We use cookies for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used. Make the most of Lead your own way in business and beyond with our unrivalled journalism. Eva Szalay. Delivered every weekday. The metaverse might look like a cutting-edge concept, with people creating digital versions of themselves to interact with other avatars in a virtual world, but this is a nearly year-old idea, only slightly updated. In the early s, former child actor Brock Pierce, a US presidential candidate in , realised that gamers were happy to buy tokens to reach the next level instead of completing tasks to earn them.

Explained: Why has LGBT+cryptocurrency maricoin whipped up controversy?

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IMF urges El Salvador to drop Bitcoin as legal tender

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Curious tourists poured into the town and foreign businesses set up shop. The Bitcoin law, which came into force on Sept. Salvadoran President Nayib Bukele claims 2. Crypto has achieved its highest penetration mostly in countries where banking systems are costly and complicated to use, or where local economies and currencies are unstable. But for the president, a 40 year-old with the casual wardrobe and cheeky communication style of a tech entrepreneur, the Bitcoin policy is about more than its immediate economic impact. For some young Salvadorans like Martinez, that means creating a Salvadoran dream.

An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, Thursday, Nov. Cryptocurrency has seen a pandemic-era explosion in Turkey, complete with ads at the airport and in the metro. On YouTube, Turkish enthusiasts dole out advice, setting up live streams where investors in digital currencies can ask questions in real time. In the first year of the pandemic, the number of Turkish crypto traders doubled to 5 million, according to statistics released by major trading platforms. He said official Turkish statistics put inflation at a three-year high of

Support Scroll. These investments happened despite the fact that for around two years starting April , financial institutions in India were restricted from providing services to crypto exchanges and their customers due to a Reserve Bank of India order. This ban forced at least two crypto exchanges to shutter. And even now, crypto exchanges in India are functioning without the services of banks.