Dogecoin’s value tumbles after Elon Musk calls the virtual currency a ‘hustle’ | Cryptocurrencies

The price of dogecoin tumbled by as much as a third on Sunday, after billionaire Elon Musk, one of its biggest supporters, appeared to call the virtual currency a “hustle” while hosting Saturday Night Live. Cryptocurrency watchers had high expectations of what Tesla chief executive and crypto-enthusiast Musk, who has Continue Reading

Dogecoin’s record-breaking rise shoots ‘joke’ cryptocurrency to wider attention | Cryptocurrencies

It is perhaps the ultimate symbol of late capitalism: a digital currency that started as a joke, now worth more than the Ford motor company, BP or Tesco. Riding a wave of speculative interest despite Covid-19 triggering the worst global recession since the 1930s Great Depression, Dogecoin has been a Continue Reading

NatWest will refuse to serve business customers who accept cryptocurrencies | Cryptocurrencies

NatWest will refuse to serve business customers who accept payment in cryptocurrencies such as bitcoin, which the UK lender has categorised as “high risk”. Morten Friis, a NatWest board member and head of its risk committee, said the bank was taking a “cautious approach” to cryptocurrencies, and would closely monitor Continue Reading

Coinbase, US’s largest cryptocurrency exchange, makes Nasdaq debut | Cryptocurrencies

The soaring value of cryptocurrencies added another name to the list of the world’s wealthiest billionaires on Wednesday with the introduction of Coinbase, the US’s largest cryptocurrency exchange, on to the Nasdaq stock exchange. Brian Armstrong, Coinbase’s CEO and co-founder, has a 20% stake in the company which analysts expected Continue Reading

Non-fungible tokens are revolutionising the art world – and art theft | Cryptocurrencies

When the virtual auction bell rang at Christie’s on Thursday, Mike Winkelmann, a digital artist better known as Beeple, made history: he had sold a “non-fungible token” representing his piece Everydays: The First 5,000 Days, for $69.4m. But while the new cryptocurrency craze may have brought the high-end art market Continue Reading

‘Non-fungible tokens’: the etymology behind this new digital swag | Cryptocurrencies

When is an album not an album? Why, when it’s a “non-fungible token”, a new form of digital swag, related to cryptocurrency, being sold by artists and musicians such as Kings of Leon and Grimes. They’re called NFTs for short, but why? Perhaps disappointingly, “fungible” does not mean “capable of Continue Reading

What is cryptoart, how much does it cost and can you hang it on your wall? | Culture

Pat, I keep hearing references to cryptoart which are all very … cryptic. What is this thing? Hey Lucy! So you might have heard of it in context of the $US600,000 Nyan Cat gif or the more recent Kings of Leon NFT Album, both of which are examples of cryptoart. Continue Reading

Electricity needed to mine bitcoin is more than used by ‘entire countries’ | Technology

It’s not just the value of bitcoin that has soared in the last year – so has the huge amount of energy it consumes. The cryptocurrency’s value has dipped recently after passing a high of $50,000 but the energy used to create it has continued to soar during its epic Continue Reading

Art, amulets and cryptokitties: the new frontier of crytocurrencies | Cryptocurrencies

Pudding Daintytot is a pink cat, with hearts sprinkled over its chest, a rainbow cresting behind it, draconic horns, wings and a tail. “Born” in January 2019, Pudding is a “cryptokitty”: an example of what is known as a “non-fungible token”, the latest cryptocurrency craze – unique images, film clips, Continue Reading

Nvidia’s new gaming software puts brakes on mining cryptocurrency | Cryptocurrencies

The newest graphics cards from the gaming processor designer Nvidia will be artificially constrained in their ability to mine cryptocurrencies, the company has announced, as it desperately tries to manage a year-long inability to satisfy demand. The RTX 3060, a high-powered PC peripheral designed to let gamers get the best Continue Reading