Tag Archives: business

Bitcoin investors hoping to make billions may end up with a sack of fool’s gold

The cryptocurrency may not be a threat to the world economy, but that should not stop regulators from protecting investors from it Sifting the Yukon river for gold was a waste of time for most of the 100,000 prospectors seeking to make themselves rich in the 1890s. The same can be said of the bitcoin miners who dream of striking it rich by getting their hands on some of the extremely lucrative and painfully elusive electronic currency. Relatively few people have managed to decipher the codes needed […]

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How to Make Money Off Bitcoin Without Actually Owning It

It’s the equity investor’s conundrum: how to get access to the skyrocketing returns of bitcoin and blockchain without actually owning the tokens. To Thomas Lee, a major bitcoin bull who heads research for Fundstrat Global Advisors, a dozen stocks should do the trick. “We believe investors should have exposure to blockchain, particularly given bitcoin has essentially zero correlation to equities, bonds and commodities —- hence, as a portfolio strategy, bitcoin is a good diversification tool,” Lee wrote in a note to clients Friday. “But this is impractical […]

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Millennials, technology will not save your generation

The second dotcom boom may seem like a way for money to flow from older, richer people to talented young entrepreneurs. But its not worked out that way Picture a startup founder. Chances are you went straight for a Mark Zuckerberg-type: male, white, nerdy and, above all, young. Zuckerberg founded Facebook in 2004, three years after the collapse of the dotcom bubble, at the age of 20. Twelve years later, the company he founded is worth $270bn, and the tech world is in the middle of a […]

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Hackers claim to have looted some treasure from Disney’s ‘Magic Kingdom’

At a town hall meeting in New York earlier today, Disney chief executive Bob Iger said hackers are claiming to havestolen an undisclosed new film from Disneys upcoming slate, according to a report in The Hollywood Reporter. Needless to say, the king of Disneys castle is refusing to pay the demanded ransom. Instead, the company is working with federal investigators and holding their breath to see if the online pirates will release their booty into the wild, according to the report. Citing multiple sources,The Hollywood Reporter wrote […]

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Meet the millennials making big money riding China’s bitcoin wave

The cryptocurrency may have no physical form but the returns from trading it can be very real and for some theyre worth giving up your job for On a sunny afternoon in west Beijing, on the auspicious eighth floor of a nondescript concrete high-rise, Huai Yang sits with the curtains drawn in his apartment, making his own luck. For the past six months, 27-year-old Yang has worked mainly from home, mainly from his sofa, tracking and trading bitcoin, and watching the money roll in. The flat itself […]

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Diary of an African Cryptocurrency Miner

Eugene Mutai’s Nairobi apartment is filled with the sound of money: That would be the hum of a phalanx of fans cooling the computers he’s programmed to mine cryptocurrencies around the clock. The 28-year-old has given up a chunk of his living quarters to the enterprise. What’s more, he invests every spare cent in initial-coin offerings: fundraising tools some startups are using to crowdsource capital. He’s a proud citizen of a strange and controversial new world — and a rather rare breed, with just a high-school education […]

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Ripple: cryptocurrency enjoys end-of-year surge – but will it endure?

Ripple, also known as XRP, peaks at more than $100bn and surpasses Ethereum to become second most valuable cryptocurrency after bitcoin If 2017 was the year of bitcoin, the pioneering cryptocurrency that neared $20,000 in December, will 2018 be the year of Ripple? The market value of Ripple, also known as XRP, rose more than 50% on Friday, to a record $85bn. Ripple continued to climb over the weekend, peaking at over $100bn, and now surpasses Ethereum ($72bn) as the second most valuable cryptocurrency after bitcoin ($237bn). […]

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Man buys $27 of bitcoin, forgets about them, finds they’re now worth $886k

Bought in 2009, currency's rise in value saw $27 turn into enough to buy an apartment in a wealthy area of Oslo. By Samuel Gibbs The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian mans $27 investment turned into a forgotten $886,000 windfall. Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer […]

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Bitcoin price soars above $5,000 to record high

Rising price of the cryptocurrency, now worth four times as much as an ounce of gold, has led to warnings of a bubble The price of bitcoin has smashed through $5,000 to an all-time high. The cryptocurrency rose by more than 8% to $5,243 having started the year at $966. Bitcoin has soared by more than 750% in the past year and is worth four times as much as an ounce of gold. But the price has been volatile. The digital currency plunged below $3,000 in mid-September […]

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Amazon founder Jeff Bezos tops Warren Buffett, becomes the third richest person in the world

Jeff Bezos speaks during the 32nd Space Symposium on April 12, 2016 in Colorado Springs, Colorado. Bezos, founder and CEO of Amazon, spoke to the crowd about the business and future of commercial space travel.Image: Brent Lewis/Denver Post via Getty Images Jeff Bezos just snuck pastWarren Buffett to become the third-richest person on Earth. TheAmazon.com Inc. founders net worth was $65.05 billion Thursday, topping Buffett by $32 million on the Bloomberg Billionaires Index. With the gain, Bezoss wealth has increased by $5.4 billion this year, marking a […]

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