A certified Casascius 1 BTC coin just sold for $28,700 on eBay, an amount much higher than the current $14,300 that a single bitcoin is going for. It may be that cryptocurrency is moving into the realm of collectability as well as a means of financial transaction. A Casascius 1 BTC coin that was originally released back in 2011 as part of the coin’s second series just sold on eBay. The winning bid was an
Bitcoin was the best-performing currency in the world for a seventh time in 2017, beating major cryptocurrencies and all fiat yet again.* 2017 Was Bitcoin’s 3rd Best Year Bitcoin’s 1200% annual growth last year took it easily to the top of the league against the global fiat basket, while only a handful of less mainstream altcoins posted bigger returns for investors. 2017’s Bitcoin harvest for hodlers was the best since 2013, which was the cryptocurrency’s
Crypto comes to the fast food world as KFC Canada introduces the Bitcoin Bucket, a meal for $20 worth of the digital currency. There are some brands that have become incredibly iconic over the years. One such brand is Kentucky Fried Chicken, or KFC for short. KFC has spread from a regional chain to franchises spanning the globe. Their “finger lickin’ good” food has been devoured by millions of loyal customers. Now their famous fried
“When one door closes, another one opens,” so the saying goes. This is particularly relevant in crypto land where digital doors open and close daily. China’s crypto mining clampdown last week has sparked an exodus from the country to friendlier climes, and India has seen an opportunity. Cryptocurrency enthusiasts in India are being made offers to set up mining facilities according to reports. This has come despite the government’s still cautious stance on digital currencies.
Even though many countries are interested in, and indeed are pursuing, the creation of national state-run virtual currencies, Singapore isn’t one of them. The digital currency revolution is here, and it’s not just reserved for Bitcoin and other decentralized cryptocurrencies. More and more countries are exploring the benefits of having a cashless society. Sweden has previously voiced their desire to investigate the development of an e-krona, Israel is looking into creating a digital shekel, while
Bitcoin’s explosive growth is dramatically disrupting the monetary and banking system to such an extent that banking and government authorities are sounding the alarm. In effect, the chief of the U.S. Treasury now fears that Bitcoin will become like a “Swiss Bank Account.” Bitcoin Defies the Banking System Bitcoin lets you have your private bank in your electronic wallet. As a result, Bitcoin will eventually render the fiat monetary and banking system obsolete. Hence, U.S. Treasury
In response to increased regulatory pressures in China, Bitmain wants to set up shop in Canada. Bitmain is one of the largest and perhaps the most well-known bitcoin mining and hardware companies in the world. Its primary operations are, as is expected for a company that’s headquartered in Beijing, located in Asia (notably central China and the autonomous Inner Mongolia) but, as per recent reports, it looks as though the company might be looking to
Paycent is mobile payment platform that functions as a dual e-wallet that can be funded by both digital currencies and fiat currency. It also allows conversion from digital to fiat and vice-versa, in real time and from within the wallet. Digital Currency to Fiat with Paycent One of the major problems that many digital currency users face is the challenge of converting digital currencies to fiat money. Currently, only a few retailers are accepting digital currencies
Artists are turning to cryptocurrency in order to take control and maximize their music royalties in a move that is turning the music industry on its head. Record labels have a long and sordid history of screwing over musicians and songwriters. It used to be common for an artist to have a gold or platinum hit and yet somehow still owe the record label money. Just before he died, rock god Jimi Hendrix was so
US exchange and wallet provider Coinbase is facing fresh criticism from both users and Bitcoin industry figures over its delayed SegWit adoption. ‘You Alone Are Spamming The Network’ As the company continues to suffer technical outages due to high demand, its effect on the Bitcoin mempool has become the source of renewed calls for SegWit as a priority. “You need to batch your outgoing transactions,” Twitter user Civ Ekonom wrote in response to Coinbase’s latest
A small town in Washington, Wenatchee, is seeing a Bitcoin mining boom due to low power prices and cooler temperatures. There are quite a few reasons why people choose to move to a small town. They may wish to get away from the hustle and bustle of the big city. Perhaps they wish to simplify their life and get back to basics. Or it may be, in the case of Wenatchee, Washington, that people may
South Korea cryptocurrency users are voting en masse against the country’s prospective trading ban and demanding ministers resign. Ban Bitcoin? Fire The Government The results of two government surveys shows support exceeding 100,000 people for halting the restrictions on trading, while more than 30,000 want to see the justice minister and finance minister fired for “market manipulation.” South Korean lawmakers have stepped up efforts to severely limit cryptocurrency activity under their jurisdiction in recent months.
Retailer Overstock experienced a glitch in their system that allowed customers to pay for goods using Bitcoin Cash rather than Bitcoin, which is valued at a fraction of what Bitcoin is. Not Quite a Discount Online retailer Overstock is known for their many deals and sales, but a glitch on the company’s website allowed customers to get an unexpected bargain. Overstock’s website gave customers the option to pay with either Bitcoin or Bitcoin Cash interchangeably.
Iran’s citizens are straining under the weight of aggressive financial sanctions as result of its nuclear initiatives. Cryptocurrencies like Bitcoin provide a circumvention solution. Even though Bitcoin continues its somewhat volatile price jumps, it is still a desirable asset for investors around the world. Since its phenomenal growth last year, people are buying and holding until it reaches even greater heights. Bitcoin Is Not Just Something to Hodl Onto According to The Hill, however, for
A new pull request will likely see SegWit included in the forthcoming Bitcoin Core version 0.16 release, easing Core node access to the technology. ‘It’s Happening’ Activity from Core’s Github repository confirms the pull request by Core developer Pieter Wuille, which comes as industry and community pressure builds on Bitcoin entities to upgrade systems to handle SegWit. According to a previous release schedule, 0.16.0 is due to complete by May 1, and could now count
Russian civil servants will not need to declare cryptocurrency gains in this year’s income tax report, the government has suggested. Russia Still Lacks Legal Framework For Tax Analyzing the yearly recommendations for income tax declaration from the country’s Ministry of Labor and Social Protection, sources claim that government workers’ profits from cryptocurrency can be left out altogether. The annual reporting period for 2017 comes at a time when Russia is still developing hard-and-fast legislation for Bitcoin
Binance CEO Zhao Changpeng has said Warren Buffett “does not understand cryptocurrency” and that he is making “a big mistake.” ‘Making A Big Mistake’ In brief comments to Bloomberg TV, the Hong Kong exchange chief countered Buffett’s warnings about cryptocurrency this week, in which he forecast all would “come to a bad ending.” “I think he knows stock investment and equity investment very well, but I do not think he understands cryptocurrency at all,” Zhao
Bitcoin regulations may be on the way as the US Senate Banking Committee is scheduled to meet with top market regulators in February over cryptocurrency. The noose may be tightening around Bitcoin and its digital brethren in the United States in the coming months. According to Reuters, the Senate Banking Committee will be meeting with some top financial regulators in early February. Their topic of concern – cryptocurrency. Are Regulations Coming? Right now, there are
Bitcoin China chief executive Bobby Lee remains defiant in the face of the Chinese government, saying that Bitcoin will continue to thrive and go up in value. It’s always refreshing to come across a person who remains unbowed in the face of stiff opposition. One such person is Bobby Lee, the chief executive of Bitcoin China, the longest-running Bitcoin exchange in the world until it was shut down by the People’s Bank of China. Despite
What happens in Asia often has a knock-on effect on trading in Europe and the US later in the day. A grim picture has been painted today as all cryptos, bar one or two, are in the red and falling. Police and tax inspections on exchanges across South Korea could be the cause alongside misreporting by the mainstream media of an outright crypto ban. Reports are emerging of nation-wide police inspections on crypto exchanges in
The Oracle of Omaha just doubled down on his Bitcoin predictions, while openly admitting he’s got no idea what he’s talking about. Back in 2014, legendary investor Warren Buffett went on CNBC’s Squawk Box and claimed that Bitcoin was, “a mirage,” warning investors to stay away from bitcoin and, indeed, the cryptocurrency space as a whole. At the time, the digital currency was trading at around $600 per coin. Fast forward a few years (a little
The advent of cryptocurrencies is triggering the creation of innovative business concepts and new Bitcoin-based financial instruments. Now, Michael Novogratz is starting a merchant bank, to be named Galaxy Digital, which will exclusively serve the cryptocurrency and blockchain space. Merchant Bank Dedicated to Cryptocurrencies to Reshape the Finance World Michael Novogratz, Chairman and Chief Executive Officer of Galaxy Investment Partners, is planning to establish and make public the first merchant bank that will focus on
Embattled photography giant Kodak has released a Bitcoin miner which has already earnt “scam” accusations from the Bitcoin industry. ‘The Dumbest Thing I’ve Seen At CES’ In an unlikely move by the company, which sought to change direction after financial problems brought it to the brink of collapse, the new Kodak ASIC KashMiner promises a $9000 dividend on a two-year contract. Along with the hardware, Kodak announced it would also launch an ICO for its