The head of the Bank for International Settlements (BIS), has today called on central banks to crack down on cryptocurrency. But it almost definitely has nothing to do with the fact that they stand to make his job obsolete. Honest. Agustin Carstens described Bitcoin as “a combination of a bubble, a Ponzi scheme, and an environmental disaster.” Pot, kettle, much? Are You Really Going There? We might as well get it out of the way first. I have honestly never seen a man as fitting of that description as he…
Read MoreMonth: February 2018
NFL Superstars Like to Talk About Bitcoin Just Like the Rest of Us
With the Super Bowl now well behind us, NFL players can today focus on what they really care about, bitcoin. You might have thought that locker room talk only cover sports and women, but an insider reveals that professional players actually like to discuss the ups and down of the cryptocurrency market between themselves. Also Read: New York Wants a Piece of the Ever Growing Bitcoin Mining Pie Bitcoin in the Locker Room Richard Sherman, at Super Bowl XLVIII postgame press conference The athletes of the American National Football League…
Read MoreThe European Commission Loves Blockchain’s Transparency – Except for When It Doesn’t
Government officials can’t seem to make their minds up about bitcoin. Politicians like the underlying technology, they are prone to insist, but aren’t sure about the cryptocurrency itself, which is used by criminals to launder money, they reiterate. In as many weeks, European Commission-affiliated groups have issued two seemingly contradictory statements on the matter. Either bitcoin and its accompanying blockchain are tools for money laundering or they are tools for providing accountability and auditability. Which is true? Also read: Cryptocurrency Is Harder to Launder Than Fiat Currency Blockchain Good, Bitcoin Bad…
Read MoreAs Crypto Winter Continues, It’s Survival of the Fittest Among Bitcoin Miners
As the price of Bitcoin continues its steep correction in 2018, Bitcoin miners find themselves fighting over scraps. Hunger Games The price of Bitcoin has fallen roughly 70% from its all-time high of nearly $20,000 in mid-December. Early Tuesday morning, the price of one Bitcoin nearly touched $6,000, before bouncing back to $7000. While this sharp decline in price potentially signals a buying opportunity for some savvy investors looking to grab some of the dominant cryptocurrency at a steep discount, Bitcoin miners are left feeling the pain. Over the last…
Read MoreVenezuela Invites OPEC Countries to Jointly Develop Oil-Backed Crypto Platform
Venezuela’s president Nicolas Maduro has invited all OPEC nations to jointly develop a platform for the trading of oil-backed cryptocurrencies. Venezuela is preparing for a pre-sale of the petro, its oil-backed cryptocurrency which can be used to pay national taxes, fees, and public services. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Inviting OPEC Nations During the meeting on Tuesday with Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mohammed Barkindo, Maduro proposed for all OPEC nations to come together and develop a platform…
Read MoreBread Launches Instant Bitcoin Purchases via Credit Card
Those looking to buy the dip and take advantage of what is essentially a 60%-off Bitcoin sale can now conveniently purchase the dominant cryptocurrency with credit cards via Bread. The Best Thing Since Sliced Bread Bread, a clean and user-friendly Bitcoin wallet available on both iOS and Android, announced this week: Starting this week, Bread customers around the world will have the ability to use a credit card to purchase bitcoin and have it deposited directly into their Bread. This new feature builds on a partner integration with Simplex to allow…
Read MoreMost Crypto Traders in South Korea Remain Anonymous Despite Regulations
Most cryptocurrency investors in South Korea remain anonymous without moving their accounts to the government-mandated real-name system. So far, less than 10% of crypto traders have converted their virtual accounts into real-name ones. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies 8% Conversion Rate So Far The real-name system for cryptocurrency exchange customers was introduced as part of the government’s cryptocurrency regulations and went into effect on January 30. The new system is supposed to replace the existing virtual account system which allows for the anonymous trading of…
Read MoreCoinbase Is Adding Segwit Support
After months of prevarication, Coinbase has announced that it will add Segwit support to its bitcoin wallets. The much anticipated and long overdue move will go some way towards reducing transaction fees for users of Coinbase and GDAX, assuming it follows suit. Coinbase has come in for repeated criticism over the inefficient way it handles bitcoin transactions, costing itself, and ultimately its users, unnecessary fees. Due to the dominance of Coinbase, it is hoped that Segwit activation will help achieve the tipping point required for the technology become the default…
Read MoreSingapore Sees No Reason to Ban Cryptocurrency Trading
Singapore doesn’t view Bitcoin as a threat and claims there is no reason to ban cryptocurrency trading within the city-state. Why so Serious? As China steps up its efforts to eradicate Bitcoin buying and cryptocurrency trading from within its borders, Singapore sees no reason to ban “experimental” cryptocurrency trading in the city-state. The news comes after an extensive review from Singapore’s central bank, who has been conducting studies on cryptocurrencies and their potential risks. Deputy Prime Minister Tharman Shanmugaratnam says: Cryptocurrencies are an experiment. The number and different forms of cryptocurrencies…
Read MoreRussian Bankruptcy Court Orders Debtor to Disclose Cryptocurrency Holdings
The Moscow bankruptcy court has ordered a bankrupt debtor to provide information about his cryptocurrency holdings. The trustee has requested that his cryptocurrencies be included in the bankruptcy estate. The court will decide if the coins can be used to pay creditors. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Court Orders Debtor to Provide Crypto Details The Moscow Arbitration Court has ordered Russian citizen Ilya Tsarkov, who has been declared bankrupt, to provide information about his cryptocurrency holdings, RIA Novosti reported from the courtroom. The appointed trustee…
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