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Move Over, Bitcoin. Ether Is the Digital Currency of the Moment.

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Move Over, Bitcoin. Ether Is the Digital Currency of the Moment.

The New York Times,

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Will ether overtake bitcoin as the dominant digital money?

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8

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Recommendation

In yet another manifestation of the digital revolution, virtual monies such as ether and bitcoin are gaining popularity and taking off in the absence of any government oversight. Speculators are watching and betting on such currencies as well. In this informative article, New York Times journalist Nathaniel Popper provides a fascinating account of how ether is gaining on bitcoin in the quest to be the virtual currency of choice. getAbstract recommends this succinct overview to regulators, investors and others interested in how the virtual currency realm is unfolding.

Summary

The value of bitcoin, the leading virtual currency, rose more than 100% in the first six months of 2017. But its rival, ether, skyrocketed a mindboggling 4,500% over this same period. Ether coins outstanding had a market value of $34 billion as of mid-June, or 82% of the value of all the bitcoins available, compared to only 5% in January. Indeed, in the digital realm, things can change suddenly. And all this is happening without government regulation or corporate directives. Volunteers paid in the digital tokens create and sustain the currencies entirely on computer networks, and individuals ...

About the Author

Nathaniel Popper covers finance and technology for The New York Times.

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