What Tech Hasand HasntDone for Puerto Rico

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Two weeks after Hurricane Maria, Donald Trump flew to Puerto Rico, toured a relatively affluent neighborhood there, and expressed his relief that the storm had not been “a real catastrophe” like Hurricane Katrina. He jokingly chided Puerto Ricans for throwing the federal budget a “little out of whack.” In reality, Maria caused the largest blackout […]

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Exit scammers run off with $660 million in ICO earnings

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A Vietnamese cryptocurrency company Modern Tech launched an ICO for its Pincoin token, raising $660 million from approximately 32,000 people. The company first ran the Pincoin ICO, promising constant returns to investors, and then launched another token, iFan (a social network token for celebrities). Picoin investors first received cash from their investment and then the […]

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Did Bitcoin Just Burst? How It Compares to History’s Big Bubbles

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Bitcoin’s recent wobbles have given fresh urgency to a question that’s gripped market observers for much of the past year: Will the cryptocurrency go down as one of history’s most infamous bubbles, alongside tulipmania and the dot-com craze? The magnitude of Bitcoin’s boom (before it predicted by Cameron Winklevoss of Facebook fame, it could have […]

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As Bitcoin Sinks, Crypto Bros Party Hard on a Blockchain Cruise

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When 600 cryptocurrency enthusiasts set sail from Singapore on Monday night for their second annual Blockchain Cruise, the price of Bitcoin was hovering comfortably above $13,500. By the time their 1,020-foot-long ship pulled into Thailand on Wednesday, for an afternoon of bottomless drinks and crypto-focused talks on a sun-soaked private beach, Bitcoin had cratered to […]

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Financial technology startups emerged as serious challengers to financial services in 2017

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Dana Stalder Contributor Allen Miller Contributor Definition: Matrix considers “FinTechs” to be (a) technology-first companies that leverage software to compete with traditional financial services institutions (e.g. banks, credit card networks, insurers, etc.) in the delivery of traditional financial services (e.g. lending, payments, investing, etc.) or (b) software tools that better enable traditional finance functions (e.g. […]

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Bitcoin Lost Almost 20% of Its Value This Week

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Bitcoin faced one of its biggest tests this week, losing almost 20 percent of its value after the world’s largest cryptocurrency reached a record high Monday. The digital currency plunged as much as 30 percent on Friday, before paring losses, as this week’s selloff extended to a fourth day. The weekly decline is the biggest in […]

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The Criminal Underworld Is Dropping Bitcoin for Another Currency

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Bitcoin is losing its luster with some of its earliest and most avid fans — criminals — giving rise to a new breed of virtual currency. Privacy coins such as monero, designed to avoid tracking, have climbed faster over the past two months as law enforcers adopt software tools to monitor people using bitcoin. A […]

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BitTorrent inventor announces eco-friendly bitcoin competitor Chia

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A bitcoin transaction wastes as much electricity as it takes to power an American home for a week, and legendary coder Bram Cohen wants to fix that. And considering he invented the ubiquitous peer-to-peer file transfer protocol BitTorrent, you should take him seriously. Cohen has just started a new company called Chia Network that will […]

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