London bullion dealer Sharps Pixley announced on Tuesday that it will allow customers to buy precious metals including gold and silver through the virtual currency. Digital Gold For Actual Gold Bitcoin, which has also been fondly called ‘digital gold’, has seen its dollar value more than tripled since the beginning of the year. Although it still remains highly volatile, as evidenced by its fall from a high of $5000 to a low of $3000 earlier
Bitcoin and blockchain technology are getting a lot of attention in the city of Hong Kong. The Future Of Hong Kong Bitcoin and blockchain technology are getting a lot of attention from different sectors worldwide. From finance to legal matters and even cyber security, Blockchain technology is revolutionizing a lot of different industries. Hong Kong seems to be another country that has caught the “cryptocurrency fever.” Two of the most dominant industries in Hong Kong
Sweden is fast becoming the world’s first cashless society. Whilst many herald this as a new progressive frontier, it does bring concerns such as privacy when every transaction you make is surveilled. Bitcoin could be the answer as it brings the anonymity of the traditional cash system. Companies make no profit from the use of cash as it lacks harvestable personal data and it has to be physically managed. The consequence is a drive for
Hyperinflation in Venezuela has made a reality of having to carry suitcases of money in order to buy meals. Bitcoin could replace low denomination notes in the country, prevent the privacy perils of a cashless society and potentially see the first Bitcoinization of a sovereign state. Venezuela, once the highest wealth per capita country in South America, now has the highest inflation rate in the world with speculation that inflation in the country could potentially reach
After Chinese regulatory authorities cracked down on Bitcoin trading in the country, Japan’s Financial Services Agency has announced that they will begin to closely monitor cryptocurrency exchanges. Consequences Of China’s Ban China’s decision to ban ICOs and Bitcoin Exchanges earlier this month resulted in the migration of many traders to Japanese and South Korean markets. This made Japan the world’s largest Bitcoin exchange market and proved the old adage ‘with great power comes great responsibility’
This past week produced some mixed news for the Bitcoin community, with one win and two losses. While the Malaysian government has reportedly given the green light to legalize the use of Bitcoin within the country, the Ukrainian and Indonesian central banks have declared that they refuse to recognize the cryptocurrency as a means of payment. Malaysia Magic Malaysia’s central bank is reported to be working on developing a framework to regulate the use of
New reports are suggesting that the North Korean government is using the digital currency Bitcoin in order to bypass regulations. Pyongyang is Mining Bitcoin In the last couple of months, the tensions between North Korea and the United States have gone from tense to dramatically worse. On August 2017, the United Nations Security Council passed a new resolution that imposed even stricter sanctions on the North Korean government. A very recent article by VOAnews reports that
Evolve Fund Group is preparing to launch Canada’s first Bitcoin ETF that will be tradeable on the TSX. Evolve Launching A Bitcoin ETF Evolve Fund Group Inc. is a financial corporation that is based in Canada. According to a recent report, the Canadian finance firm has filed a preliminary prospectus for Canada’s first Bitcoin ETF. The Bitcoin ETF is going to be called “BITS” and will be an easy and fast way for stock investors
The company Blockswater has filed a complaint against JP Morgan CEO Jamie Dimon saying he violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that Bitcoin was “a fraud”. Blockswater claims that Dimon violated Article 12 of the European Union’s Market Abuse Regulation when he declared that Bitcoin was “a fraud”. Dimon’s comments on Bitcoin preceded a 24 percent drop in Bitcoins price. In an interview with City AM, Blockswater managing partner
On September 20, 2017, Hong Kong played host to the Blockchain Global Summit. One of the highlights of the event was the much-anticipated premiere of Bitcoin – Shape the Future, a documentary that explores Bitcoin’s growth in China. Many readers may recall that this year’s Blockchain Global Summit was originally scheduled to be held in Beijing earlier this month. Due to recent legislation by the Chinese government, however, the decision was made to hold the
A researcher at the Central University of Finance and Economics suggests that the Chinese government should start its own cryptocurrency. The Current State of Bitcoin in China In the last couple of days, there have been a lot of rumors flying around about the future of Bitcoin and other cryptocurrencies in China. Currently, Chinese regulators have forced prominent cryptocurrency exchanges like BTCChina and Huobi to shut down their operations by the end of the month.
With properties increasingly being sold for Bitcoin, one Realtor sees Miami as an ideal location for making Bitcoin payments a much more regular means of purchasing property. Bitcoin enthusiast and Realtor associate Stephan Burke first discovered Bitcoin in 2014 when he sold a Miami property to an early Bitcoin investor. When the buyer later wanted to sell this same property, there was a condition to the terms of sale – Burke had to advertise that
After JP Morgan CEO Jamie Dimon sensationally labeled Bitcoin a ‘fraud’ last week, the founder of the world’s largest hedge fund, Ray Dalio, has also come out against the cryptocurrency calling it a ‘bubble’. However, it seems like banking’s old guard does not put their money where their mouth is. The Dimon Dilemma JP Morgan CEO Jamie Dimon heavily attacked Bitcoin last week calling it a ‘fraud’ and even went as far as saying that
Beleaguered by so-called ‘black money’ and tax evasion, the Indian government is planning to issue its own fiat cryptocurrency according to recent news reports. Stronger Regulations It’s been almost a year since the Indian government decided to take harsh measures against “black” money and tax evasion. On November 18, 2016, the Indian government removed their two highest value banknotes from circulation, effectively removing 22 billion banknotes from the country’s monetary system. With many people fearing
With a surge in the popularity of cryptocurrencies among the youth, many are now investing in Bitcoin with a view to saving for retirement. This shift away from traditional retirement is well illustrated by the success of a company called Bitcoin IRA, which allows investors to buy Bitcoin and other cryptocurrencies using their IRA or 401(k) accounts. Bitcoin Over Banks What was once a vision is not now far away from being a reality. The
JP Morgan reveals they are looking for a “Technical Project Execution Manager – (Blockchain) Distributed Ledger Technology” despite a very recent vehement attack on Bitcoin, which originated the very blockchain technology the financial services giant seeks to adopt. In a move that many are finding ironic, if not downright hypocritical, JP Morgan is on the hunt for an experienced blockchain technician. The job posting comes just days after CEO Jamie Dimon called Bitcoin “a
The second largest supermarket chain store in South Africa, Pick n Pay, recently started testing Bitcoin payments at its stores. Bitcoin payments at Pick n Pay In the recent years, Bitcoin has become a more and more popular payment method for many retail stores worldwide. A recent announcement by the payment software development firm, Electrum, described the recent Bitcoin payment test that conducted at a selected Pick n Pay store. The software integration would easily
CHINA BANS BITCOIN; a phrase that many people in the Bitcoin community have heard a dozen times and will probably hear it a dozen more. But for the first time, it could have some truth behind it. BTCChina has announced on Twitter plans to shut down operations by the end of the month China Rumors in Full Swing Rumors have been swirling the crypto space over the past few days about China apparently tightening its
Major Chinese exchanges BTCChina and ViaBTC have announced they will shut down operations causing Bitcoin price to plunge as OKCoin and Huobi are expected to follow. ICO Crackdown The recent days have been very interesting for cryptocurrency traders worldwide. On September 4, news emerged that Chinese regulators banned all Initial Coin Offerings that are based in China. The report from the People’s Bank of China stated that no individual or organization may longer raise funds through
The BitKan “2017 Shape the Future” Blockchain global summit has changed its location, it will now be held in Hong Kong instead of Beijing and will take place later this month on September the 20th and 21st. Tickets for the event are still available to purchase. BitKan has changed the location of their “2017 Shape The Future“summit from Beijing to Hong Kong, where it will now be held in the Grand Hyatt Hotel where it
Earlier this week CEO of JP Morgan, Jamie Dimon, called Bitcoin a “fraud”. Ex-JP Morgan executive, Alex Gurevich, advised the current CEO to “STFU about Bitcoin”. Bitcoin a Fraud? In a recent conference in New York the current CEO of the banking firm JP Morgan, Jamie Dimon, called the cryptocurrency Bitcoin a “fraud”. According to Dimon: [Bitcoin is] only fit for use by drug dealers, murderers and people living in places such as North Korea.
US based Security researcher FireEye claim that the rising price of Bitcoin in tandem with the increasing international sanctions imposed upon North Korea have lead the rogue country to seek Bitcoin hack attacks as an alternate, low cost way of helping finance the state. FireEye make the claims in a report published Monday on their website, stating that they have been observing actors they believe to be North Korean of origin. These actors have
Russia’s Finance Minister announced the government’s goal of legalizing and regulating the circulation of cryptocurrencies. Unlike China, Russia will not outright ban ICOs as it plans to take full advantage of this new financial technology. Although a segment within the Russian administration has not given its backing to cryptocurrencies, most of the evidence and recent developments in the country point towards a push from Kremlin to become the world’s most powerful country on the back of its early adoption of artificial intelligence.