On March 21, Tether issued another 300 million USDT. What’s the big deal, you may ask? If you want a stablecoin, Tether’s value tends to hover around $1, making it useful for moving money between exchanges without touching the banks.
In fact, that’s what a lot of traders do. However, the value of Tether becomes a concern when you consider the fact that Tether is very vulnerable to investigations, has ties to Bitfinex that may be a little too close to comfort, and may not survive an effective bank run in which several large bagholders attempt to exchange their USDT for fiat all at once.
Continue reading “The Close Ties Between Tether and Bitfinex: Should You Be Concerned?”
Cryptocurrencies stepped into the world as a means to move away from conventional ways of doing business. Not that having the intricate financial system carry out transactions was a bad thing. It was just rather slow, and a more reliable way to do business across borders was necessary. Of course, things haven’t changed much ever since. The financial system is still very much intact, and crypto assets, while popular, are still scrambling for purchase.
How likely is it, though, to see crypto money replace our well-established ways of doing business? The answer lies in asking ourselves what we understand about cryptocurrencies.
Continue reading “Is Cryptocurrency the Future of Online Trade?”
Bitcoin faucets have traditionally been a popular way for newcomers to Bitcoin to get their first small amounts of Bitcoin. Find a good faucet rotator and you could theoretically earn a decent amount of Bitcoin by remembering to hit the faucets every hour or so.
One potential problem with this, though, is that faucets are sometimes accused of being scams designed purely to earn advertising fees for the owners with no intention of ever actually paying out.
Continue reading “Are Bitcoin Faucets A Scam?”
With multiple Bitcoin hard forks, or splits of the Bitcoin blockchain into two, looming on the horizon, it’s easy to get caught up in the hysteria and be scared of what will happen to Bitcoin (and its price).
Continue reading “Should I Sell My Bitcoin in 2018 – Or Should I HODL?”
When Satoshi Nakamoto (pseudonym) came up with the bitcoin concept in 2009, he may not have envisioned that in less than a decade there would be more than 800 other cryptocurrencies, all gearing towards global freedom from FIAT currencies.
And as this journey continues, Africa must not be left behind in the financial revolution and evolution of our times. When history is being written, and when it shall be read, it would be important that Africans do not become a loose thread in the economic fabric.
Continue reading “Top 5 Reasons Africans Need to Learn Bitcoin and other Cryptocurrencies”
Can the Government Shut Down Bitcoin?
According to the law of the land, the government of any country holds the ability to enact any number of prohibitive legislation that applies or relates to any behavior or activity.
Legislative reforms like these are used by the government to distinguish and control activities that are legal from those that are banned or regulated.
Speaking from a strictly technical viewpoint, the 2012 European Central Bank Report on Virtual Currency Schemes of late 2012, states that there is no legal argument preventing nations from regulating or banning virtual currencies.
Continue reading “Can the Government shut-down Bitcoin? What This Means to You”