Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

CryptocurrencyMarket InsanityOpportunities

New Customers are coming in so fast Cryptocurrency Exchange cannot keep up with demand

The cryptocurrency hysteria is bigger and more popular than most people realize. The volume of people signing up for new accounts was so great that one popular centralized altcoin exchange had to stop taking new customers.

“New User Registrations Are Temporarily Suspended,” CEX.IO announced on 21 December 2017. CEX.IO is an exchange based in the United Kingdom that caters to professional and high-volume altcoin investors and traders.

The number of people registering for CEX.IO trading accounts; was so great that the company’s customer service team was unable to process them all, a blog post reveals. Since the post had not been updated on 2 January 2018 and the suspension announcement was still up on that day, it appears CEX.IO is still swamped.

Ethereum booms as Bitcoin Sinks

The reason for the glut of new applications is obvious the media-hysteria generated by high cryptocurrency prices. Bitcoin was trading at $13,753.84 and €11,412.94 on 2 January 2018 according to Coinbase and CEX.IO.

Ethereum was trading at $865.94 (€718.56) on the morning of 2 January 2018. Ethereum gained $388.16 (€316.09) in value between December 2, 2017, and 2 January 2018, Coinbase reported. That made for an increase in the value of 81.05%.

If you are looking for a list of cryptocurrency-based exchange-traded funds (ETFs), Dave Dierking has posted one over at Seeking Alpha. Dierking noted thinks the first Bitcoin ETF to be traded in the US will come from Canada, he also noted that Bitcoin futures began trading on the Chicago Board Options Exchange (CBOE) on 10 December 2017.

Cryptocurrency Mining is now a Commodity

The hash or computer power used in cryptocurrency mining is now a commodity. You can even buy or sell hash power at a marketplace called nicehash.

Nicehash will let you sell spare hash power from your PC, server, workstation, ASIC (Application-specific integrated circuit) mining operation, mining rig, or server farm (datacenter) for Bitcoin. It will also buy massive amounts of hash power and pay for it with Bitcoin.

The company also claims to be able to let you mine cryptocurrency from any pool that you want. If you have some extra hash power or a spare server, it might be a good idea to check nicehash out. The marketplace might help you turn it into some extra Bitcoin.

Revelation: your friendly neighborhood blogger owns a small amount of Bitcoin and Ethereum.


a homescontents