Indian supreme court calls on government to regulate bitcoin
The indian supreme court has asked the government to respond to calls to regulate bitcoin. Three justices issued a notice to the central bank, the market regulator, the tax department, and several other agencies, asking them to answer a petition on the matter, the Hindu, an Indian newspaper, reported Tuesday.
The original petition to the court expressed concern that bitcoin can be used to conduct transactions across borders without a trace, making it an attractive tool for ransomware attackers and tax cheats.The petition goes on to state that bitcoin exchanges in India add 2,500 users per day, and that some 500,000 residents now hold bitcoin.
On Wednesday, the exchange rate between Indian rupees and bitcoin was more than 470,000. As a result of its adoption, bitcoin usage may affect the market value of other commodities according to the petition, which pleaded with the court for an urgent direction for the government to intervene.
- November 16
Bitcoin smashes through $6,600 to new record high after CME announces plans for futures contracts
Bitcoin CME Group's Duffy on bitcoin futures launch: People are looking for more efficient ways to do commerce 18 Hours Ago.Bitcoin surpassed $6,500 and $6,600 on Wednesday to hit a new record high after the CME announced plans to launch bitcoin futures later this year.
The price of the cryptocurrency hit a high of $6,600.84 just hours after breaking through the $6,400 barrier, and minute after moving past the $6,500 mark, according to data from industry website CoinDesk. Its market capitalization, or the total value of bitcoin in circulation, hit $110 billion.
On Tuesday, U.S.-based exchange CME said it would introduce bitcoin futures contracts this quarter, subject to regulatory approval. "We've been working with the regulator. They understand our application. And they understand our model very, very well," Terry Duffy, CME Group chairman and CEO told. The introduction of such a product could bring more institutional investors into the market. It's believed that this is helping to boost the price.
- November 01
Bitcoin market capitalization going to reach $100 Billion USD mark soon.
The market capitalization of bitcoin is currently sitting at approximately $94 billion USD after setting a new all-time high of over $92 billion USD earlier this week. Bitcoin’s market capitalization has so far made gains of over 600% during 2017, after starting the year at approximately $15.6 billion USD.
If compared with the market cap of the top 100 global companies according to Pricewaterhouse Coopers, bitcoin would rank 81st, just three places shy of Goldman Sachs – which boasts a market capitalization of $96 billion USD according to the data.
Bitcoin would be one place above the United States Postal Service ($93 billion USD), and several places above Nike and Australian mining giant BHP Billiton – who both have a market capitalization of roughly $92 billion USD. When contrasted with the annual gross domestic product (GDP) of nation states, bitcoin’s current market cap would garner it a ranking of 66nd when compared to 191 countries, according to IMF projections. If bitcoin were a country, it would be ranked behind Ukraine, who has an annual GDP of $95.9 billion USD. Ranking behind the hypothetical nation of bitcoin would be the Slovak Republic ($89.1 billion USD), Sri Lanka ($84 billion USD), and Ethiopia ($78.4 billion USD).
- October 16
Bitcoin price continue on bullish way, Crossed 5000 dollars mark. All time High!!!!
After bearish movement last month,bitcoin continues its bullish move and crossed 5000 dollars mark moments ago today.
This is all time high as bitcoin broke previous high which was 4985 dollars. Lets see the price action of bitcoin on upcoming event SegWit2x.
- October 12
Congratulations!!!!!! We are opening new mining farm next month.
We are very glad to announce that we have crossed 18000 users till now.We have launched in july,2017 and in a very short time, we have received huge number of users in our platform.
We are very thankful to all our mining partners for joining us.We hope this wave will continue and will cross 50k users mark soon.
We are opening new mining farm next month because we need more mining machines as we have too much hash power requirement for mining because of large user base.
- October 06
China is going to shutdown bitcoin exchanges
China is home to vast and lucrative cryptocurrency mining operations for both Bitcoin, Ethereum, and other cryptocoins.
Three Chinese exchanges — Bitfinex, OkCoin, and BTCC — made up over 45 percent of the global market share over the last days, according to news.
Bitcoin’s growing popularity in China may have caused the government to begin to perceive it as a threat to local currency, especially as Chinese investors bought up bitcoin and bet against the yuan last year.These exchanges will be offline from 30th September 2017 so all users have to withdraw their funds from these exchanges.
- September 27
Swiss town will accept tax payments in bitcoin
The municipality of Chiasso in Switzerland is to start accepting tax payments in bitcoin, according to a local news report. The new scheme, to be put into place for the start of next year, was apparently made following discussion with various blockchain groups based in the area.
There are limits to the scheme, however, and tax payments made in bitcoin cannot exceed 250 Swiss francs (around $265), the report states.The Mayor of Chiasso, Bruno Arrigoni, was cited as saying that the town is "recognised internationally as an epicentre of a growing technological and economic growth for both the canton and in Switzerland."
Nicknamed the "CryptoPolis," Chiasso is set on establishing itself as a rival to the country's blockchain epicentre Zug, and has reportedly seen eight startups set up base there in the past few months. Zug, which has become famous internationally as Switzerland's "Cryptovalley," announced it would allow citizen to pay for government services in digital currencies back in 2016.
- September 12
Regarding free 15 KH/s power
This Blog is regarding your free 15 KH/s power which you have received at a time of registration with us.
We want to let you know that as per our terms, this free power will be valid for a month from your registration, If you do not purchase any power from us within a month, then your free power will be expired and all earnings from it will be lost.
If you purchase any power from our package within a month then this free power will be added in it and its validity will be lifetime.
- September 01
Beware of ponzi sites of bitcoin mining and invesments.
This blog is written for awareness of investment in bitcoin mining sites.Please be aware when you are thinking to invest in bitcoin and related digital currencies.
Currently there are so many sites which offering very short term return investments like 10%,15%,20% daily, investment returns within 10-20 days, they all running a ponzi schemes and will stole your investment in a very short time.
Bitcoin mining depends on its machines and no one can mine bitcoins at this speed as it takes time.So it is our humble request to all our users that don't invest in any type of schemes which gives your investment return in a very short time like 10 days,15 days,etc.
- August 26
Congratulations Our Mining Parners!!!!!! 10000 Users Registered and Counting.....
We have Just received 10000 registrations from our beginning and increasing very fast worldwide.Its just a milestone!!!!!
Thank you all users to reach us at this milestone.
Very shortly, we are opening new green energy data center for mining because we have large user base and we are planning to do pre-mining so that our users will get as much as required power at lesser cost and time.
- August 19
Bitcoin price surges to $3500 up and continue to $4000 mark.
Congratulations bitcoin owners!!!!!
Suddenly bitcoin price shown big movement because of SegWit news.Price of bitcoin started increasing when it crossed $2900 mark on 4th august.
And in few days it climbed to $3500 mark which is all time higher and continues its bullish run on crypto market.
Start mining bitcoins today with us as it is future currency and you can earn big profits as this is just a beginning of bitcoin, so much has yet to come.
- August 12
Bitcoin Price Could Exceed $100,000 by 2021: Harvard Academic
Bitcoin could pass $100,000 by February 2021; a Harvard academic has said announcing Bitcoin is the first digital currency to follow Moore’s Law. In emailed comments to Business Insider, investor Dennis Porto said that after analyzing Bitcoin’s performance, it was the “first” currency to follow the digital technology rule.
“Moore's law specifically applied to the number of transistors on a circuit but can be applied to any digital technology," Porto wrote. "Any technology that is growing exponentially (i.e., 'following Moore's law') has a doubling time." The comments come as Bitcoin price hits new all-time highs as SegWit lock-in is set for Aug. 9.
The march towards $3,500 per coin mimics the growth rate seen by the handful of altcoins which activated SegWit earlier this year, such as Litecoin. Porto makes the assertion that Bitcoin price has de facto doubled every eight months since its inception. “This poses a unique opportunity for investors,” he added, something which was well-received in social media circles.
While multiple well-known commentators have contributed their opinions on how much one Bitcoin will cost in the next five or 10 years, $100,000 by 2021 is at the bolder end of the spectrum. This week, Max Keiser repeated his faith in Bitcoin reaching $5,000 in the coming months.
- August 08
Bitcoin may be hot, but is it the right investment for you?
If you put $1,000 into Bitcoin in 2013, you’d have more than $23,000 now. Techies claim it’s the future. Enthusiasts are buying. Should you? Like most investment decisions, it depends on who you are and what you want.
Though it's called “cryptocurrency,” Bitcoin is pure speculation, not money. It sounds like fancy, techie money. Some retailers accept it as payment. Since Bitcoin is untraceable, it’s often used on the Dark Web, where unsavory types deal in unsavory things. But money? It ain’t! Real money is exchanged for goods and services anywhere. Its value is relatively stable in the short term. It’s accepted by those who know its value largely holds up until it can be reused.
You don’t mind holding and spending it because you feel that way, too. And it’s easy to access. You get it readily if you have something valuable to sell, such as your labor. Money is liquid, plentiful, stable and nationally accepted. Bitcoin isn’t any of that. There are about 16.5 million Bitcoins worth $42 billion. America’s annual economic output exceeds $19 trillion. The world’s tops $75 trillion.
- July 31
Will Bitcoin Cash Impact the Bitcoin Price? Traders Split on Possible Fork
Bitcoin traders may soon be able to bet on their preferred version of the blockchain. As if a years-long debate over the network's technical roadmap wasn't dramatic enough, Tuesday could see yet another twist in bitcoin's scaling debate.
That's when a group of miners and developers say they will go as far as to create an alternative network to prove bigger blocks are the best solution for increasing network capacity. Called Bitcoin Cash (BCC), the effort will effectively fork bitcoin's existing software and transaction history, and in the process, give every bitcoin user new cryptocurrency tokens on a new blockchain with different rules. Should users own 2 BTC, this means they'll now be able to claim 2 BCC on the Bitcoin Cash blockchain, a move that could generate millions of dollars in new value for traders.
Not without precedent, a similar event took place on ethereum last summer, when members of that community created a new cryptocurrency to protest a design decision by developers. Yet if you were expecting that sort of uncertainty to be scaring away traders, according to Ripple gateway operator Rafael Olaio, the end result is anything but. Given the creation of the new network, Olaio
- July 28
Bitcoin Investment Vehicle Adopts Open Strategy Ahead of Blockchain Fork
The provider of a bitcoin exchange-traded note (ETN) in Sweden has said that it will track what the market considers to be "bitcoin" following a possible network split next week.
XBT Provider AB released a statement outlining its plans ahead of what could be a split in the bitcoin blockchain on August 1, one pursued by the proponents of an alternative implementation called Bitcoin Cash.
The first of two etns launched by XBT Provider went live in mid-2015 following approval by the Swedish government. The firm said that, as the ETN holders don't actually possess any bitcoin, they won't be directly affected.
But XBT Provider said it is moving proactively to protect the bitcoin holdings that the ETN tracks, steps which include safeguarding the assets themselves in the event of a chain split.
"The Guarantor's group companies have moved as much of their bitcoins held on account as is practicable in the circumstances to custodian infrastructure that will support both coins should a new coin result from the anticipated fork," the company stated.
- July 26
Segwit2x Deployment: ‘Excited Traders’ Drive Bitcoin Price Up
Bitcoin has bounced back from its huge loss after bridging an ideological gap that poses a threat to the number one cryptocurrency. After its record breaking slump over the last week, Bitcoin re-surges to 2,300 levels as miners began deploying segwit2x.
The Bitcoin price has risen to as high as $2,356, $598 higher than its record low of $1,758 last weekend. Bitcoin’s big jump is only short $644 before it reaches its June 12 record of more than $3,000 again.
Bitcoin’s big jump was attributed to the use of segwit2x, a new software that is believed to have been the major compromise for the erring Bitcoin faction: the miners who deploy costly computers to verify transactions acting as the backbone of the Blockchain, and the developers or the Core who uphold Bitcoin’s bug-free software.
With Bitcoin’s lack of central figure or authority, reaching an agreement has been difficult. But segwit2x has become the first major solution to Bitcoin’s ideological gap. 55 percent of blocks mined With its release over the weekend, segwit2x has finally secured adoption by large miners like Antpool, BTTC and Bixin.
More or less 55 percent of the blocks were seen to be done with segwit2x as monitored by coin.dance. If support for segwit2x reaches 80 percent and maintains that threshold from more than two days, it will definitely keep Bitcoin from splitting.
- July 21
Cryptocurrencies Down 23% for July. Is This the Bottom?
The great digital currency bull run of 2017 came to a screeching halt in early June. Shortly after hitting all-time highs—bitcoin broke $3,000 and Ethereum nudged $400—the party ended, and cryptocurrencies of all stripes plunged.
Now, almost two weeks into July, the picture is even less pretty as most types of digital money are firmly in bear territory. How bad is it? Alex Sunnarborg, a researcher at Coindesk, tweeted a helpful chart that shows the respective declines for bitcoin and other currencies since the start of the month.
As you can see, bitcoin did not fare as badly as some of its smaller rivals. The original digital currency is down around 6.5% while Ether, the cryptocurrency associated with the decentralized computing network Ethereum, is down 29%. Ripple dropped a brutal 39%. The average overall decline is approximately 22.7 %, though it's important to note some of these currencies are relative minnows. The market cap of bitcoin, the sector's undisputed heavyweight, is currently around $40 billion while that of Dash is $1.3 billion.
- July 10
Poland’s Largest Food Delivery with 5000+ Restaurants Starts Accepting Bitcoin
Pyszne.pl is Poland’s largest service for ordering food online. In 2016, the site reported having approximately 883,000 active customers, 4.3 million orders, and an average order size of 9.55 euros.
It has partnered with 5,062 restaurants, ranging from pizza, sushi, kebab, dumplings and other dishes, all of which offer delivery. In 2014, Pyszne.pl was acquired by Takeaway.com, one of the largest online food ordering websites in the world. Headquartered in Amsterdam, Takeaway.com is active in 10 countries, has 28,800 restaurants, and 8.9 million active customers.
Pyszne.pl is Takeaway.com’s fastest growing brand and the only one in Poland. In 2016, it grew 150% annually in terms of gross merchandise volume. Takeaway.com wrote: Poland [Pyszne.pl] continues to be our fastest-growing market delivering another year of triple-digit order growth…we have achieved twelve times order growth in Poland and cemented ourselves as the clear number one in a fast-growing market.
Our brand is multiple times larger than the number two based on orders. In addition, the company detailed, “Poland is also home to our fourth largest office,” which is located in Warsaw. “Our Polish business became our third largest market in 2016.” Pay with Bitcoin Pyszne.pl recently announced that it has started accepting bitcoin through Bitpay, beginning this month.
In addition to bitcoin, customers have other options to pay such as with a credit card, online transfer, Sofort, and Paypal. Users of Pyszne.pl mobile application can also use Android Pay.
- July 04
Bitcoin Scaling Project Segwit2x to Release New Code Today
Segwit2x, a controversial scaling proposal largely backed by the bitcoin network's enterprises and miners, is moving ahead in adherence with its previously announced timeline.
Bloq co-founder and Segwit2x lead developer Jeff Garzik confirmed that new code is set to be released on Friday, following two weeks of alpha release testing.
The release is said to address issues and comments on the initial version. As such, the release is expected to mark a new phase for the proposal, which has been praised by some as a pragmatic solution to the network's perceived capacity issues and derided by others as a deal that misunderstands the nature of bitcoin development and the network's intended design.
Still, it has emerged as unique, given that it was able to bring together perhaps the largest contingent of companies and mining pools ever in support of a scaling proposal. Further, its support by a large majority of miners means, if released, the code could quickly gain the necessary backing from the network to activate the upgrade. If development continues as planned, bitcoin’s long-requested scaling optimization segwit could be activated before August, with a hard fork to double the block size slated for three months later.
This change, though, also remains a matter of controversy and critique. Testing phase So far, little is publicly known about the testing process. According to those involved, the last two weeks of development have been dedicated to testing, with the firms involved using a new testnet ("testnet5") and a so-called faucet that spits out fake coins to test the system.
A notable change this week was that the team tweaked the details of the hard fork portion of the agreement for the time being Companies involved in the project – including Abra, Bitfury, Blockchain, BTCC, openbazaar, Purse and Xapo – have been contributing to development and testing, though it’s still not public who's working on what. From the segwit2x github site, it is apparent that developers have been testing the code. Purse CTO Christopher Jeffrey, for instance, identified and fixed some bugs during this two-week stage, while others flagged and put forth other ideas. Some companies are playing a smaller role in the effort. For example, openbazaar's lead backend developer, Chris Pacia, said that he is the sole developer from the firm to contribute to the project.
He explained that he created a testnet5 DNS seed (which helps new nodes connect to the test network) and has offered occasional feedback. However, a few of the firms that pledged to assist in testing the code have been hesitant to reply to requests about their involvement. (Some critics have gone as far as to argue that the firms involved are "corporatizing" bitcoin, asserting that Segwit2x is a small group of companies in an invite-only Slack channel attempting to govern a decentralized online currency.)
- June 29
New York Preschools Accept Bitcoin and Ether for Tuition Payments
Two private preschools in New York City now accept bitcoin and two other cryptocurrencies for tuition payments, according to their co-founder.
Montessori Schools, based in the Flatiron and soho neighborhoods of Manhattan, began accepting bitcoin, ether and litecoin in June. Payments are accepted by way of an integration with digital currency startup Coinbase, which automatically converts the crypto payments to US dollars.
The preschools ascribe to the Montessori philosophy of education, an approach to learning developed in the early 20th century by Maria Montessori. According to online materials, tuition at the schools can run as high as $30,950 per annum – worth roughly 12.3 BTC at current prices.
Marco Ciocco, co-founder and chairman of the schools, told coindesk that the move to accept digital currencies for tuition payments began more than a year ago, following requests from parents. As more requests came in, Ciocco said, school officials started to seriously weigh how it could work.
- June 23
Bitcoin prices likely to continue wild ride
What goes precipitously up, often comes crashing down to earth. So it was with bitcoin on Thursday, when the price of the digital currency plunged 19% — its steepest drop in more than two years — after a record run.
The volatility remained on full display late Thursday and, as of Friday evening, bitcoin rebounded to $2,484.59. The cryptocurrency, which flirted with $3,000 on Monday, sunk as low as $2,076.16 in intraday trading early Thursday amid a confluence of bad omens. Tech stocks have recently taken a thumping over concerns about their lofty valuations. Ominous reports from Goldman Sachs and Morgan Stanley suggested bitcoin was due for a reversal in price and required government regulation. The Federal Reserve hiked interest rates Wednesday.
Compounding worries, digital currency exchange Coinbase experienced an outage Monday because of high-trading volume. Another exchange, Bitfinex, on Tuesday said it was under DDOS attack. Meanwhile, prices for digital currencies ripple and NEM declined the past week, though Ethereum, the second-largest currency, has soared 20% on speculation it will be the top currency. At $371.36, it lags far behind bitcoin in value.
- June 18
The Bitcoin price continues to look strong as it consolidates over $2700 – is it getting ready for
In a statement by Vice President of GDAX, Adam White, the crash has been blamed on a multimillion dollar sell order that apparently drove prices from $317.81 to $244.48, resulting in a $29.4% loss of value.
The order triggered over 800 stop losses, seeing widespread liquidations among traders in leveraged positions as reported by Bitcoin.com
- June 13
Japanese Airline Service Peach Aviation Will Soon be Accepting Bitcoin for Flights
Headquartered in Osaka Japan, Peach Aviation is a well known Japanese air carrier service offering low-cost air travel since 2011.
The company stated that bitcoin will be accepted for flights and services at some point towards the end of 2017. Peach said the recent law change regarding the digital currency had bolstered the business move.
According to reports Peach also plans to introduce bitcoin to other partner companies and local governments. “We want to encourage visitors from overseas, and the revitalization of Japan’s regions,” Shinichi Inoue, the founder and CEO of Peach explained. “This is a real first step in partnerships for Japan, and we are aiming for more company and service tie-ups.”
- June 08
Will Amazon Finally Fold to Demands and Accept Bitcoin?
Amazon has been in the news a lot lately, thanks to their constantly improving technology prowess and their acquisition spree in the retail scene. While the company continues to support tech companies and even blockchain projects through AWS indirectly, it hasn’t been that friendly when it comes to accepting Bitcoin as a payment method.
The cryptocurrency community has been incessantly requesting the online retail giant to introduce Bitcoin as an additional payment option, which has so far gone futile. Now in a renewed attempt, people have created an online petition urging Amazon to start accepting Bitcoin. The petition on a well-known online advocacy and petitioning platform, Change.org comes at the time when the popular cryptocurrency is exhibiting a positive price trend, with increased stability.
According to reports, 5381 petitioners have already signed the campaign. The demand doesn’t stop here as some also believe that the e-commerce major should extend support for Litecoin as well. The Change.org petition shows that people are becoming more comfortable spending cryptocurrencies to purchase goods and services. Making a case in favor of Bitcoin, the petitioners state the following reasons for why Amazon should introduce Bitcoin payments;
Low transaction costs, decentralized currency, low inflation due to finite supply, easy accessibility, non-reversible payments, and of course, the security offered by the cryptocurrency.
Even though Amazon doesn’t accept Bitcoin at the moment, shoppers can still indirectly use the cryptocurrency by purchasing gift cards and redeeming it on the platform. Presently few leading global platforms like Rakuten accepts Bitcoin payments. Some of the other well-known players accepting Bitcoin payments include Microsoft, Dell, Overstock and more. It is not sure whether Amazon will change its mind and start supporting cryptocurrency payments, but it will be great if the e-commerce giant complies to the wishes of the community.
- June 01
Australia Will Recognize Bitcoin as Money and Protect Bitcoin Businesses, No Taxes
UPD: The Commonwealth Scientific and Industrial Research Organisation (CSIRO), the federal government agency for scientific research in Australia, stated that Blockchain technology will have a profound impact on the Australian economy.
Bitcoin will be treated as money in Australia by July 1, 2017, and will be exempt from goods and services tax (GST). Bitcoin traders and investors will not be taxed for purchasing and selling Bitcoin through regulated exchanges and trading platforms.
Over the past two years, the Australian Bitcoin exchange market significantly fell behind growing markets such as South Korea, Japan and South Korea, that control more than half of the global Bitcoin exchange market share.
Two majors factors which drove startups, exchanges and businesses dealing with Bitcoin and other digital currencies in Australia away from the country where the termination of banking services by leading Australian banks due to their anti-competitive nature and the double taxation of Bitcoin trading by the Australian government.
Starting July 1 however, double taxation and trading and goods and services taxation on Bitcoin will be exempted. In its 2017 to 2018 budget for “Backing innovation and fintech,” the Australian government wrote:
“The Government will make it easier for new innovative digital currency businesses to operate in Australia. From 1 July 2017, purchases of digital currency will no longer be subject to the GST, allowing digital currencies to be treated just like money for GST purposes. Currently, consumers who use digital currencies can effectively bear GST twice: once on the purchase of the digital currency and once again on its use in exchange for other goods and services subject to the GST.”
- May 29
Russia’s Largest Online Retailer Ulmart to Accept Bitcoin in September
Largest Russian Online Retailer Founded in 2008 and headquartered in St. Petersburg, Ulmart has over 450 infrastructure facilities including fulfillment centers and pick-up points.
The Russian version of Amazon.com is present in more than 240 cities and towns across Russia. A study by Trackad shows that Ulmart is the largest online retailer in Russia with 20 million monthly visitors, 30,000 daily orders, and 12 million items of goods and services. Trackad is a data management company used by the top 100 e-commerce Russian websites. In addition to items listed on its website, the company also has a marketplace with growing inventory. “By year-end, an additional one million items could be on offer from third-party sellers,” the announcement reads.
- May 24
Bitcoin is Just $100 Away From Doubling its Price in 2017
The price of bitcoin has hit a new high by reaching an $1,902 average across global exchanges. While one in a string of new all-time highs the digital currency has so far set in 2017, this one is perhaps notable as it means the price is now within striking distance of $2,000, a figure that would effectively find the asset doubling in value in 2017.
Bitcoin traded for just over $1,000 on 1st January, but has edged up sharply amid increasing media exposure for its technology and those in the wider blockchain tech sector. Indeed, on at least two exchanges – Poloniex and Bitfinex – the price was even hovering just over $1,960.
Year-over-year, the price of bitcoin is up 300%, having risen to $1,900, up from $453 on 18th May, 2016.Still, the move comes amid a broader boost in the cryptocurrency market, which broke the $60bn barrier today.
The increase has taken place amid strong surges from Ripple's XRP, which seeks to lower costs in enterprise cross-border payments, and ethereum's ether token, a cryptographic asset that powers its decentralized app network.
- May 19
Bitcoin Could Be Accepted at 300,000 Japanese Stores in 2017
As bitcoin gains popularity following legal recognition in Japan, retailers, and companies are queueing up to accept the world’s largest and most popular cryptocurrency.
The largest English business journal in Japan and the eastern Asian region, the headline read ‘Bitcoin going mainstream as Japanese business signs on’. It is a sign of bitcoin’s growing popularity in the country, which recently imposed legislative changes to consider bitcoin as a legal method of payment similar to prepaid cash cards or gift certificates.
In other words, a recognized method of payment. In what will prove a shot in the arm for bitcoin adoption in the country, Japanese regulators decided to end the ‘8% consumption tax’ imposed on transactions of bitcoin bought from exchanges. This is set to go into effect in July this year. All of which has seen a heightened demand for bitcoin in the country.
- April 10
The Bitcoin price is recording new highs and $1500 could be the next threshold to reach.
There’s a Big Difference Between Electronic Fiat and Cryptocurrency; Japanese Banks Trial Virtual Currency For Funds Transfers; Ethereum’s Ether Token Tops $60 to Set New All-Time High;
Bitfinex Price Spreads Bring Uncertainty to Bitcoin’s Price Rally; India is Cracking Down on onecoin; Jihan Wu Confirms Backdoor Claims in Bitcoin Miner Bitmain – interesting! Former Coinbase Engineer Launches Ethereum Search Engine; Canada shouldn’t shy away from fintech; 7 United Nations Agencies Are Now Investigating Blockchain Applications; Ripple Adds 10 New Financial Firms to ‘Blockchain Network’; Spotify Acquires Blockchain Startup Mediachain; Blockchain Innovation Means Greater Financial Inclusion in the Middle East and Australian Govt Regulator Inks fintech Agreement with Indonesia.
- April 05
Is Bitcoin Mining Profitable in 2017?
The short answer would be “It depends on how much you’re willing to spend”. Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors “mining profitability calculators” were invented.
These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other variables and give you an estimate of your projected profit. Before I give you a short example of how this is calculated let’s make sure you are familiar with the different variables.
- March 29
12,000 Places Where You Can Spend Your Bounty of Bitcoins.
Fess up, are you the anonymous entity who now holds $147 million in Bitcoin? What’s the point of being a newly minted Bitcoin millionaire if you can’t spend your bounty, right?
In time for Black Friday, bitpay has compiled a directory with more than 12,000 businesses and charities that accept Bitcoin using its service, a paypal-like electronic payment processing system for Bitcoin. “We are often asked where to spend Bitcoins and this global directory allows Bitcoin merchants around the world to get discovered,” says bitpay cofounder and CEO Tony Gallippi in a statement.
“With this service we will be linking over 5 million Bitcoin users with merchants and we will continue adding more merchants.” To promote Bitcoin Black Friday, bitpay will feature the one-day sales of featured merchants on its directory. Vendors include those selling VPN, hosting, and other web services, but span into organic foods, coffee shops, and e-cigarettes. The directory also includes a travel and tourism section, helping Bitcoin enthusiasts plan vacations and find local merchants that accept Bitcoin.
- March 24
Bitcoin is getting closer to its all-time high
Bitcoin is getting closer to a record high. Early buying on Thursday has the cryptocurrency up 1.7%, or $19.25, at $1148.56 a coin, and on track for its 10th straight day of gains. Its all-time high of $1,161.88 was set on January 5.
Buyers have been piling into bitcoin in anticipation the US Securities and Exchange Commission will approve at least one of the three proposed bitcoin-focused exchange-traded funds by the March 11 deadline despite analysts warnings that none will be approved.
The current rally in bitcoin has run the price up more than 17% and has been the latest chapter in a volatile start to the year. Bitcoin surged more than 20% in the first week of 2017 amid heavy buying interest from China.
Then, the price crashed 35% amid fears China was going to crack down on trading. After bottoming out near $750 a coin, the cryptocurrency rallied despite news that China's largest exchanges would begin charging a flat fee of 0.2% on all transactions and that two of China's largest bitcoin exchanges were blocking withdrawals.
- February 23
Bitcoin is shrugging off some big news of out of China
According to Reuters, the country's three largest bitcoin exchanges announced they will begin charging a flat fee of 0.2% per transaction. Releases from BTCC , Huobi and okcoin state that the fees are being implemented to "further curb market manipulation and extreme volatility."
Bitcoin has had a wild start to 2017. The cryptocurrency rallied more than 20% in the opening days of 2017 amid huge interest from China, which accounts for nearly 100% of trading . In fact, data from Cryptocompare found, "In the first 24 hours of the new year, over 5 million bitcoins were bought in Chinese yuan, equating to $3.8 billion.
In contrast, just 53,000 bitcoins were bought in US dollars." However, the early gains vanished in a matter of days as bitcoin tumbled 35% on concerns China was going to crackdown on trading.
Beijing announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. But bitcoin has managed to work its way off support in the $750 area, and is trying to break out of resistance in the $880/$920 area that has defined trade for the past week.
Monday's announcement will hopefully take some of the volatility out of the market as bitcoin traders in China won't be allowed to buy and sell as much as they want without paying the new transaction fee.
- January 23
Bitcoin is getting demolished
Bitcoin is getting demolished, trading down 12% at $797 per coin ,the cryptocurrency appeared to be stabilizing, holding in a range between $880 and $920, as traders digested the news that the People's Bank of China warned investors to exercise caution when investing in virtual currencies.
The cryptocurrency has had a wild start to 2017 after booking a 120% gain in 2016, making it the world's best performing currency for the second year in a row. Bitcoin rallied more than 20% in the first three-plus trading days of 2017, crossing the $1,000 mark for the first time since November 2013 and coming within $46 of an all-time high.
However, worries surrounding a crackdown on trading in China have punished bitcoin over the past four-plus sessions, erasing about 30% of its value. Bitcoin is now down more than 14% in 2017.
- January 12
New Year Special!!!! Bitcoin Price Tops $1,000 in First Day of 2017 Trading.
The price of bitcoin inched upward over the course of trading today, passing $1,000 for the first time since early January 2014.
Though the price was still shy of a three-year high of $1,023 set in January of that year, the milestone nonetheless marks a bright beginning to 2017 for the digital currency.The price had reached as high as $999 earlier in the day only to fall back to the $960s, a pattern that was similarly observed over the last week of trading as bitcoin failed to build momentum toward $1,000.
The increase notably took place during what was a day of lower-than-average trading volume, 7-day exchange data from Bitcoinity reveals. As asserted by analysts, 2017 is expected to be a banner year, one that could finally lead the price to pass its all-time high of $1,216.7 set in 2013.
- January 02
The Trump effect on bitcoin
While market observers are pointing to decisions made by the governments of china and india as driving bitcoin price action, no analysis would be complete without considering the potential impact of a trump presidency.
His surprise victory in the us election flew in the face of predictions that came from all corners, including political analysts and pollsters. Zivkovski spoke to how this unexpected event could impact both bitcoin and the economy going forward.
"many consider bitcoin in this case to be a hedge against the fiat-economic turmoil they believe will occur during his presidency," he said. But while traders were largely positive, the price saw notable fluctuations during the week, as bitcoin even surged $30 in one hour at one point.
The frenetic nature of the digital currency was illustrated by the bitmex's 30-day historical volatility index, which reached as much as 38.54% and averaged 36.43% for the week.
- November 23
Bitcoin breaches $750 but struggles to set new 2016 high
The price of bitcoin surpassed $750 this week as it continued to near its 2016 high set back in june.
The digital currency rose to as much as $752.04 on 17th november, before falling back. Bitcoin prices then proceeded to fluctuate over the course of the week, surpassing $750 multiple times, but failing to build support above this level.
At the time of report, bitcoin had dipped once again, trading at roughly $745, but even after this decline, bitcoin was trading more than 4% higher for the week. Concerns about further devaluation of the yuan, a decree made by the indian government to take certain bills out of circulation, and sustained uncertainty about the outcome of a donald trump presidency all affected the digital currency.
- November 09