Bitcoin’s valuation has been slashed nearly in half this week. From a high of $19,856 earlier this week, it is now trading under $12,000 per coin. All cryptocurrencies have been taking a beating this morning: Bitcoin (-28%), Bitcoin Cash (-43%), Ethereum (-33%), and Litecoin (-38%). Time to buy or time to get out? At Socialnomics, we are definitely long on the blockchain (see below post) — it will be prevalent in almost every sector — not just currencies. As for cryptocurrencies and whether to buy, buy, buy, or sell, sell, sell … all we know is it will certainly be a wild ride.
Apple Reveals the Reason Behind Slowing Down iPhones
While we love the form and function of the iPhone, many of us can attest to the slowdown of the device over time. Customers have speculated that Apple slows old iPhones to encourage people to upgrade. Apple has admitted to slowing down older iPhones in an effort to “prolong the life” of a customer’s device. You can’t blame them, products like Crocs last so long doctors and nurses never need to buy new ones. Who knows? Maybe a slower phone is just Apple’s way to look out for us in this hyper-paced holiday season. (Source: BBC)
Google’s Chairman Eric Schmidt Steps Down
Alphabet has announced that Eric Schmidt will step down from executive chairman to technical advisor. Schmidt’s history with Google started 2001 when Larry Page and Sergey Bin brought him on Google as their CEO. Later, Eric Schmidt stepped down to serve as Google’s, and subsequently, Alphabet’s executive chairman. Schmidt sees this transition as an opportunity to continue his exploration of science and technology. (Source: The Verge)
Just Change Your Name to Something Blockchain
2017 is the year of cryptocurrency (run on the blockchain). With the rapid growth in value of Bitcoin, who wouldn’t want to hop on the bandwagon to make big money fast? Companies are finding that by adding “blockchain” to their name, their open market company value increases. For example, Long Island Iced Tea Corp. saw their shares soar as much as 500 percent in pre-market trading after changing their name to Long Blockchain Corporation. Don’t expect this trend to slowdown in 2018.
If you are looking for a last-minute stocking stuffer for that special someone, you can buy Bitcoin on the app coinbase — it’s a steal at $11,700 after being at $19,856 per coin earlier this week. (Source: TechCrunch)