Tag Archives: Cryptocurrencies

Meet Erik Finman, the teenage bitcoin millionaire

Finman used his fortune to fund an educational business and hes not as awful as he seems on Instagram Erik Finman is one of the worlds youngest bitcoin millionaires an achievement hes not shy about flaunting. The 19-year-olds Instagram feed is full of ostentatious photos of himself stepping out of private jets or lying on beds covered in money with captions like: Cash so worthless compared to Bitcoin Im sleeping on it In one photo he is pictured smoking, with the caption: Sometimes you just need a […]

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Bitcoin price plunges after cryptocurrency exchange is hacked

Security fears rise as South Koreas Coinrail loses about 28m of virtual currency There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend. The worlds best-known cryptocurrency lost $500 (372) in an hour, dropping to $6,627 on the Luxembourg exchange Bitstamp, while most other digital currencies also recorded large losses. The latest attack highlights the lack of security and weak regulation of global cryptocurrency markets. Coinrail later said in a statement […]

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UK dealer charged in US over multimillion-dollar fake Bitcoin site scam

Renwick Haddow created trendy companies and duped investors into thinking they were big successes, authorities in New York allege US authorities on Friday charged a British businessman with securities fraud, accusing him of deceiving investors over what turned out to be a fake trading platform for the cryptocurrency Bitcoin. The Securities and Exchange Commission (SEC) alleged the clandestine Renwick Haddow, a UK citizen living in New York, diverted funds invested in a phoney Bitcoin site as well as from a flexible workspace firm Bar Works into accounts […]

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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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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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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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Blockchain: the answer to life, the universe and everything?

Bitcoin hasnt lived up to the salvation rhetoric, but the digital engine behind the currency may be about to change the world Have you heard the good news? The blockchain is here and its going to save everything. If you arent tied to the tech community, you might not have picked up on this salvation rhetoric. But you probably have heard of bitcoin, which burst into the public consciousness before imploding dramatically in 2014. But now, bitcoin is starting to look less important than the engine that […]

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Australian Craig Wright claims he is bitcoin founder Satoshi Nakamoto

The 45-year-old IT and security consultant has reportedly provided evidence to the BBC supporting his claim that he is the inventor of the cryptocurrency Australian entrepreneur Craig Wright has identified himself as Satoshi Nakamato, the pseudonymous creator of the digital currency bitcoin. Wright, who was named as the cryptocurrencys founder by two separate media investigations in December, made the admission in a blog post on Monday, providing what he says is technical proof of his claim. He also provided evidence to the BBC, reportedly including the use […]

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Teenage bitcoin millionaire is back with a better Botangle

Erik Finman gained notoriety and a certainfameas a 14-year-old entrepreneur and bitcoin investor whod managed to turn a $1,000 investment in the cryptocurrency into more than a million dollars and a chance to never see the inside of a college institution. Hailing from the small town of Post Falls, Idaho, Finman, the son of two Stanford-educated engineers whose small business sells big technology to the Defense Department, was a kid who never took to public education. Unlike his brothers, Ross and Scott, the youngest Finman didnt respond […]

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