Cryptocurrency latest – AMC movie theatres to accept coins like Ethereum, Litecoin and Bitcoin Cash as well as Bitcoin

HOW ARE GOVERNMENTS CRACKING DOWN ON CRYPTO-MINING, CONTINUED

Authorities in China’s southwest province of Sichuan ordered crypto-mining projects to close earlier this summer.

It followed on from Beijing declared war on Bitcoin mining and trading as part of a series of measures to control financial risks.

HOW ARE GOVERNMENTS CRACKING DOWN ON CRYPTO-MINING?

Many crypto-mining regions in China are radically reducing operations.

Miners create new cryptocurrencies using a complex computer code in a complex process, which is highly energy-intensive and requires a lot of computer power.

IS TETHER STABLE?

The Tether cryptocurrency, which is also known as USDT, was officially launched as Realcoin in 2014, but has since changed its name.

It’s described as a “stablecoin;” a type of cryptocurrency that works to keep crypto values stable.

The price of Tether has indeed stayed stable after it hit a 2021 high in mid-April.

WHAT IS TETHER?

The Tether cryptocurrency, also known as USDT, was officially launched as Realcoin in 2014.

It’s described as a “stablecoin;” a type of cryptocurrency that aims to keep crypto values stable.

Tether aims to do this by pegging the price to a regular “fiat” currency, like US dollars, Euros, or the Chinese yuan.

FINANCIAL EXPERT ON THE SHIBA INU COIN

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun about the Shiba Inu coin previously: “The Shiba Inu coin appears to have been created just to give Dogecoin a run for its money.”

“It features the same dog which became a meme, and aims to replicate Dogecoin’s success of turning a joke into a money-making machine.”

The Shiba token website said: “Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin in a small amount of time (relatively speaking).”

WHAT IS THE SHIBA INU COIN?

Shibu Inu are cryptocurrency tokens.

They allow users to hold trillions of them, according to its website.

Shiba tokens are listed and incentivized on ShibaSwap, its own decentralized exchange.

The tokens feature the same Shiba Inu dog as Dogecoin, which has rocketed in popularity recently.

BREAKING DOWN THE RISKS OF CRYPTOCURRENCIES, PART 5

One last risk of investing in cryptocurrencies is marketing materials.

Firms may overstate the returns of products or understate the risks involved in investing.

BREAKING DOWN THE RISKS OF CRYPTOCURRENCIES, PART 4

There are several risks to investing in cryptocurrencies.

One is charges and fees. Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.

BREAKING DOWN THE RISKS OF CRYPTOCURRENCIES, PART 3

We’ve rounded up five major risks of investing in cryptocurrencies and the third is product complexity.

The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.

There is no guarantee that cryptoassets can be converted back into cash.

Converting a cryptoasset back to cash depends entirely on demand and supply existing in the market.

BREAKING DOWN THE RISKS OF CRYPTOCURRENCIES, PART 2

Another risk of investing in cryptocurrencies is price volatility.

Significant price volatility in cryptoassets, mixed with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.

BREAKING DOWN FIVE RISKS OF CRYPTOCURRENCIES, PART 1

We’ve rounded up five major risks of investing in cryptocurrencies.

The first is consumer protection.

Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.

‘MIGHT NOT END WELL’

“BREAKING: @SEC_Enforcement v @Ripple could decide the future of agency’s ability to regulate #cryptocurrency & it might not end well,” a reporter shared on Twitter on Wednesday.

“Consider what happened when DOJ pushed the envelope on insider trading resulting in a ruling making prosecution tougher.”

WHAT IS POLKADOT, PART 2

Jobson added, “To put this into context, developers have a choice from a variety of blockchains to build applications on – each with their own strengths and weaknesses that they have to mull over when deciding where to develop.”

“Polkadot aims to solve that problem by enabling interoperability between chains.”

WHAT IS POLKADOT?

The Polkadot project was founded in 2017, but the cryptocurrency launched in May last year.

It allows cross-chain transfers of any type of data or asset, not just tokens, making a number of blockchains interoperable with each other.

It is essentially an interchange and translator between multiple blockchains – most of which weren’t built to communicate with others, Myron Jobson, personal finance campaigner of Interactive Investor, told The Sun.

HOW HAS ELON MUSK INFLUENCED CRYPTOCURRENCY, PART 2

Posting to his personal Twitter account, Musk wrote at the time: “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”

Bitcoin then started plummeting within minutes.

Other cryptocurrencies quickly followed, with several of the mainstream coins seeing a huge drop in value that day.

HOW HAS ELON MUSK INFLUENCED CRYPTOCURRENCY?

The first signs of trouble for the crypto market came in May, when Elon Musk released a statement saying Tesla would no longer accept Bitcoin for purchasing vehicles.

The Tesla founder has previously caused currencies to spike in value by mentioning them on Twitter or in press statements.

HOW RISKY ARE SHIBA INU COINS?

Investing is always a risk but investing in cryptocurrency is an even higher risk as they are VERY volatile, so you should be prepared to lose cash.

There is also no guarantee that you can convert cryptoassests back into cash, as it may depend on the demand and supply in the existing market. 

Plus, fees and charges may be higher than with regulated investment products. 

Cryptocurrency firms aren’t regulated in the way that other financial firms are. This means that you won’t have any protection if things go wrong.

Ms Streeter previously said: “Investors should treat trading in crypto currencies with extreme caution, and dabble at the edges of their investment portfolio, only with money they can afford to lose.”

While Nigel Green, chief executive of deVere Group, added previously: “Extreme caution should be exercised before investing in un-tested cryptocurrencies.

“The price swings can be expected to be wild and there’s a legitimate risk that investors could get burned.

HOW MUCH ARE SHIBA INU TOKENS WORTH?

The value of Shiba Inu is currently sitting at $0.000006832, according to CoinMarketCap.

Shiba Inu hit its peak of $0.000036 on May 10 but has since dropped to its current level.

The value of an investment typically falls if many investors sell off their assets around the same time.

Cryptocurrency markets are also down overall after a series of worldwide crackdowns on the currencies.

In comparison, Dogecoin is currently worth $0.1829.

The value of Dogecoin initially surged thanks to celebrity backing, while a bunch of Reddit threads also called for it to hit a value of $1 per coin.

However, it has dived more recently following a crackdown on cryptocurrencies in China.

SHIBA INU COIN CONTINUED

“It features the same dog which became a meme, and aims to replicate Dogecoin’s success of turning a joke into a money making machine.”

This is something to be aware of when you’re considering its legitimacy when making an investment.

The Shiba token website said: “Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin in a small amount of time (relatively speaking).”

WHAT IS THE SHIBA INU COIN?

Shibu Inu are cryptocurrency tokens and allow users to hold trillions of them, according to its website.

Shiba tokens are listed and incentivized on ShibaSwap, its own decentralized exchange.

The tokens feature the same Shiba Inu dog as Dogecoin, which has rocketed in popularity recently.

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun previously: “The Shiba Inu coin appears to have been created just to give Dogecoin a run for its money.

XLM PRICE PREDICTIONS CONTINUED

Quinn Markwith, eToro crypto market analyst, said Stellar is becoming more popular on its trading platform.

He said: “Stellar has had a host of impressive partnerships with the likes of Stripe and IBM.

“But more recently it was reported to have been considering the idea of buying well-established online money transfer service MoneyGram.

“This could potentially open usage of the cryptoasset to a large untapped base of customers who don’t currently transfer money using a blockchain network.

“Although as of yet there is no indication of whether the deal will go ahead.”

XLM PRICE PREDICTION

Getting beyond a $1 valuation is among the first milestones that many cryptos aim for.

A poll of 732 crypto enthusiasts on CoinMarketCap have predicted the XLM price will rise by 13.3% over the next six months.

This would give a lumen a valuation of $0.388.

Users of CoinPriceForecast are slightly more bullish and expect the price to hit $0.39.

Investors may have to wait a few years to get past the $1 mark though.

CoinPriceForecast users are predicting that the price will move from $0.56 to $1.38 between 2023 and 2027.

WalletInvestor forecasters expect the XLM price to hit up to $0.642 by the end of 2021 and $1.56 by August 2026.

WHAT IS THE XLM PRICE?

The XLM price or the value of a lumen as of August 27 is $0.335, according to CoinMarketCap.

Its value is down 1.99% over the past 24 hours but is up 253% compared with last year when the value was at $0.096 in August 2020.

XLM hit an all-time high of $0.938 in January 2018 and the closest it has got since then was $0.796 in May 2021.

WHAT IS XLM?

XLM was launched in 2014 by Jed McCaleb and Joyce Kim after both left rival cryptocoin Ripple amid disagreements over the company’s direction.

It is described as a “distributed, hybrid blockchain” that lets money be moved and stored faster and at a lower cost.

The digital currency is based on tokens that are called lumens.

A lumen can be purchased on crypto exchanges such as Binance, Blockchain, eToro and CoinTiger.

One of XLM’s first partnerships included IBM which uses the XLM network to let financial firms complete transactions using its blockchain technology.

THE RISKS OF TEZOS CONTINUED

This includes a dispute between president Johann Gevers and the Breitman’s over intellectual property rights and investors launching lawsuits against the company, alleging that its token was an unregistered security.  

As a result, the Tezos Foundation paid a $25million settlement to investors.

This was a big reason why the Tezos platform was not launched until 2018.

So keep that in mind, but Tezos will be an interesting bet to make given its unique proof-of-stake blockchain network.