Cryptocurrency News for the Week of March 25-31, 2018

Cryptocurrency prices plunged in March, reaching new lows seemingly every week. The grim news is worrying investors, although you need not worry. Blockchain technology is still a game-changer, and although this bubble is bound to burst, people will still thrive.

MailChimp to Cryptocurrency Promoters: Your Fake Money’s No Good Here

by Bryan Menegus, Gizmodo

Cryptocurrencies took some massive hits this week. First Twitter joined Google and Facebook in banning cryptocurrency ads, and then MailChimp joined them. Each of these companies believes too many crypto and ICO ads are associated with scams and fraud. While many legitimate cryptos exist, the bandwagon is growing. High valuations and market caps attract a lot of unscrupulous people.

Ethereum ASIC Miner Could Be A Gamer-Changer

by Brian Penny, Crypto Briefing

Bitmain is releasing new mining rigs for both Monero and Ethereum. Both cryptos are fighting back, as they believe mining should be decentralized. Meanwhile Nvidia and AMD’s stock prices took a hit alongside cryptocurrencies this week due to the announcement. And gamers are just happy they may get their video cards back.

John McAfee’s $1 Million Bitcoin Price Bet Just Hit a Major Technical Hurdle

by Josiah Wilmoth, CCN

In July 2017, eccentric multi-millionaire John McAfee promised to eat his own dick on broadcast television if Bitcoin doesn’t reach a price of $500,000 by mid-2020. After December’s massive price hike, he raised his bet to $1 million. Unfortunately for McAfee, Bitcoin dipped below his predictive line for the first time this month. Of course, markets aren’t as smooth as his prediction line, so this won’t be the first time it takes a dive then lifts back up.

Analyst slashes AMD, Nvidia price targets on new cryptocurrency mining chip from China

by Tae Kim, CNBC

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Both Nvidia and AMD stock prices took a hit this week after the announcement of new ASIC mining rigs. Graphic card GPUs are used to mine many of the most popular cryptocurrencies. The skyrocketing price in December 2017 caused a run on graphics cards, which doubled prices. The new ASIC rigs signal a new technological arms race.

The Initial Coin Offering Is Dead, Long Live the ICO!

by Jordan French, TheStreet

The biggest problem in the crypto industry is flashy Initial Coin Offerings, known as ICOs. But that may soon change. Security Token Offerings (STO) become a thing. The SEC is actively investigating ICOs because of the large amount of money (nearly $5 billion in 2017 alone) involved. With STOs, financial regulation is built-in, making them an attractive option.

Ripple is the worst performer among major cryptocurrencies in the first quarter

by Kate Rooney, CNBC

Ripple experienced a 35,000 percent increase in 2017, but it’s now down more than 74 percent of that gain. Cryptocurrencies in general are struggling, but Ripple fared the worst of the top-tracking tokens. According to CoinMarketCap, cryptocurrencies as a whole lost 50 percent of their value in 2018. However, it’s important to keep in mind that’s 50 percent off the massive spike in December 2017. Overall, they’re still more valuable than any year prior.

China’s blockchain ambitions are revealed in the sheer number of patent applications

by Echo Huang, Quartz

According to Thomson Reuters, over half of the 400 blockchain-related patent applications filed in 2017 were from China. The U.S. has consistently lagged behind, although both countries are far ahead of every other country. These patents don’t necessarily correlate to real products, but it’s a glimpse into what’s happening.

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Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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