By CCN Markets: Failed cryptocurrencies can enjoy an eternal resting place after they’re sent off to an altcoins graveyard called ShitcoinGraveyard. The website is the brainchild of four Berlin-based crypto entrepreneurs and bitcoin bulls: Roman Kemper, CEO and chief gravedigger. Marten Rauschenberg, DAO mastermind. Yannick Eckl, marketing director. Christoph Klischa, chief financial officer. Kemper told CCN that his team was inspired to launch ShitcoinGraveyard amid the 2018 ICO market implosion. During that time, crypto investors lost millions of dollars in numerous ICO scams. ICO Death Spiral Inspired Graveyard Idea Kemper says the idea of ShitcoinGraveyard was born in the depths
When cryptocurrency exchanges fail, a seismic shock shudders through the cryptosphere. With thousands of users, from traders to companies, left out of pocket, litigation is inevitable in a bid to claw back some of the losses. Cryptopia is the latest in a long line of exchanges to face a litany of lawsuits from anguished creditors.
Coinbase has faced the wrath of the crypto community since announcing the acquisition of blockchain analytics firm Neutrino for an undisclosed amount last month. The team behind Neutrino, which was added to the Coinbase ranks, was previously caught selling surveillance software to governments with atrocious human rights records. This has resulted in a growing trend […]
This week, the Dow Jones recorded a steep sell-off from 23,970 points to 21,846 points, amidst global economic instability and uncertainty. Since achieving an all-time high at 26,828 points on October 3, the Dow Jones has fallen by 5,036 points to 21,792 points, by 18.77 percent. In the traditional financial market, a 20 percent decline
The post Dow Jones Near Bear Market Territory, Why White House Failed to Ease Investors appeared first on CCN
Michael Bloomberg, the former mayor of New York City and CEO of Bloomberg L.P., has come out in support of the Democratic Party leading up to Tuesday’s midterm elections in a commercial released on Sunday night. On Election Day, we must tell Republicans in Washington that they have failed to lead, failed to find solutions and […]
Initial coin offering (ICO) operator Civil will refund investors due to the blockchain startup’s failure to reach its minimum sale cap. Civil will conduct another token sale in further efforts to build their Journalism business. Civil ICO Civil’s first ICO began in September and wrapped up this week. Their mission, according to their website, “is to help power
The post Blockchain Journalism Startup Civil Refunds Investors after Failed ICO appeared first on CCN
Recognized economist Nouriel Roubini, a professor at Stern School and NYU, recently launched a series of attacks against the crypto sector. All of the False Claims Roubini Made He claimed Bitcoin is a Ponzi scheme, Ethereum co-creator Vitalik Buterin amassed a wealth of a billion dollars by creating a pre-mined blockchain network, and said public
The post Debunked: How Nouriel Roubini Failed to Attack Crypto with Cherrypicked Data appeared first on CCN
Listen Here – https://soundcloud.com/cryptodaily/eos-failing-its-investors
EOS Governance Failure Exposed
There has been a wealth of speculation surrounding EOS and the EOS ecosystems governance over the past week or so. This comes off the back of a leak which seemed to prove that Chinese cryptocurrency exchange Huobi had been accepting donations in order to support certain voters within the EOS network that in turn contribute to how decisions are made within the project.
Former Daily Show host John Stewart famously confronted CNBC Mad Money’s Jim Cramer for his coverage of the 2008 financial crisis, in what turned out to be one of the more monumental financial media events of the decade. “Your money is safe in Bear Stearns,” Cramer said just six days before the global investment bank […]
Bitcoin has succeeded as an asset but has failed terribly as a currency. It has only gained traction within a very small niche following, lacking any use in real-world transactions. It only handles a very small number of transactions compared to its competitors like Visa, all while consuming large amounts of energy which further makes it unsuitable for mainstream use. This is according to Jay Krishnan, the CEO of India’s largest startup incubator and a venture advisor to SRI Capital, a VC firm with investments in augmented reality, e-commerce and industrial automation. Krishnan tore into Bitcoin in an op-ed for the Economic Times, calling it a failed idea. However, the startup veteran got many of his facts wrong, including the fees charged for a transaction which he greatly exaggerated.
According to Jay Krishnan, the CEO of T-Hub, India’s largest startup incubator & venture advisor to SRI Capital, Bitcoin has failed due to $ 20 transaction fees. Except that since December, for over nine months, the median transaction fee of Bitcoin has remained below $ 0.2. In December 2017, the demand for Bitcoin and other major cryptocurrencies … Continued
The post India’s Biggest Startup Incubator CEO [Falsely] Says Bitcoin Failed Due to $ 20 Fees appeared first on CCN
The list of failed and obsolete fiat currencies is a lot longer than most people would expect. When it comes to obsolete currencies, there are quite a few to choose from. The following examples are ranked in reverse order of longevity, and failed to make any real impact in the end.
#6 Albanian Lek Valute
Initially introduced back in 1992,, the Albanian Lek Valute failed to remain relevant for more than a full year. It is evident Albania has seen numerous iterations of the Lek, with three official versions making the rounds, each with their own multiple design models. The Lek Albanian Lek Valute was the least successful of them all, although for a country going through a revolution in 1991, that is not entirely surprising either.
According to reports out this week, PayPal is under criticism for its alleged failure in actually having an impact in the transformation of money usage worldwide. It seems that on the flipside, what PayPal aimed to achieve, Bitcoin thus far as done better, without really trying.
The criticism comes through recent events in Turkey that has led to the crash of the Turkish Lira (Turkey’s FIAT currency). Because of this crash and because of financial uncertainty, PayPal have been forced to block access to the service from customers in Turkey to prevent the circulation of the failing currency.
Google co-founder Sergey Brin claimed that the American multinational technology giant failed to put itself at the forefront of what many hail as the next great technological revolution — blockchain technology.
‘We probably already failed to be on the bleeding edge’
As reported by CNBC, Brin — currently the president of Google’s parent company, Alphabet — claimed Google missed the golden opportunity to lead the blockchain charge while speaking at a blockchain conference in Morocco. He stated:
We probably already failed to be on the bleeding edge, I’ll be honest.
Bitcoin is reporting losses today but only a break below $ 8,650 would signal a bull-to-bear trend change.
A former high-flying JPMorgan trader turned cryptocurrency fund manager says banks “have absolutely failed to innovate in any way, shape, or form and now they’re paying the price” in the cryptocurrency market.
Daniel Masters ran JPMorgan’s energy trading business in the 1990s and now oversees cryptocurrency investment at the firm Global Advisors. In an interview with Business Insider, he called cryptocurrency a “true revolution” that traditional financial institutions are dismissing as a “criminal enterprise, Ponzi scheme and a scam.”
Masters, who started out as an oil trader for Shell in the 1980s, said he became interested in cryptocurrency around five years ago and refocused his firm on digital currencies two years later in 2014.
On the back of Bitcoin’s recent correction and subsequent push back towards the $ 12K mark, long-time Bitcoin nonbeliever Mark Carney claims that the dominant cryptocurrency has failed on almost every front.
Bank of England, Unsurprisingly, Doesn’t Like Bitcoin
According to Bank of England Governor Mark Carney, Bitcoin has failed as both a viable currency and as a store of value — citing volatility and the lack of vendor adoption.
On February 19th, Carney shared his already well-established position on the popular cyrptocurrency with students at London’s Regent’s University, stating:
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