Ether and Bitcoin crashing, Cryptocurrencies are in a bad position

RED MONDAY for cryptos: Bitcoin lost 7 percent, ether 24 percent. Other cryptos, which are largely unknown to the laity, also lost massively value

The early summer was a blessing for these currencies: Bitcoin's price has tripled since April, from around 1000 dollars to over 3000 dollars. Currently, it is around 2300 dollars.

ETHER: 4500 PERCENT GAIN SINCE THE BEGINNING OF THE YEAR

Even more extreme was the course development at Ether. Last week, the price was 4500 percent higher than at the beginning of the year. Since the beginning of this week he is now almost halfway back down.

But what is ether at all? Simply put, a better version of Bitcoin. "Like Bitcoin, Etherum motivates a group of like-minded people to maintain a secure network in which a consensus is established about what exists and what has happened. Unlike Bitcoin, however, it contains powerful tools that enable software engineers to develop services. The spectrum ranges from decentralized games to the stock exchange, "write Don and Alex Tapscott in their book" Blockchain Revolution ".

The spiritual father of Ether is the still very young Vitalik Buterin. The 23-year-old Russian is a kind of universal genius. In addition to his mother tongue, he is fluent in English, French, Latin and Ancient Greek. He learned Cantonese in three months. The most important software languages ​​are, of course, familiar to him.

ETHER WAS PARTLY DEVELOPED IN A TRAIN
Buterin has developed Ethereum - Ether is the name of the related currency - partial in the Krypto-Valley train. However, he is, in the truest sense, a world traveler. His place of residence today he jokingly calls Cathay Pacific Airlines.

Earlier, Ether had to cope with a setback. After having managed to raise $ 150 million for a fund called the Decentralized Autonomous Organization, a fraudster managed to plunder this fund because of a software flaw. Ethereum was endangered in its existence.

BIG NAMES WERE INTERESTED IN ETHEREUM
Buterin, however, succeeded in managing the problem in a very short time. In doing so, he not only won the respect of the Ethereum community, but also of many renowned companies. More than 100 of them have joined the non-profit organization Enterprise Ethereum Alliance, including Toyota, Merck and Samsung. JP Morgan and Microsoft are also experimenting with Ethereum's blockchain.

It is difficult to assess whether the crash of the cryptos is more than a temporary setback. The fact is that they are becoming increasingly serious. More and more exchanges are established for these currencies, also in Zug. According to the newspaper Sonntagszeitung, Zurich-based computer science specialist Cyrill Tröndle plans to put a Swiss trading platform into operation in just a few months.