The bull case for Bitcoin is often expressed as an estimate of the future value of all Bitcoins in circulation once it reaches its potential. The most widely known estimate of its intrinsic value is $400 billion made November 2013 by the Winklevoss twins Cameron and Tyler at the “New York Times” Dealbook Conference. At that valuation Bitcoin would be worth 70 times its current value of $5.7 billion. That’s based on an April 8, 2014 price
After a steady weekend, the top cryptocurrencies are showing a minimal downtrend during Monday’s early hours. Bitcoin, Dogecoin, Litecoin and every major cryptocurrency are declining, though with the same promises to stay steady throughout the day as no major announcement or event is scheduled today. Can’t go mad if a rumor passed by though! BTC/USD At the end of April 6th (0000 UTC), the BTC/USD was trading at its two-day peak value, at around $462.
As the rumors of a crackdown by the People’s Bank of China have solidified over the past few days, Bitcoin prices have been hit hard. Last week, we told you that China’s central bank was rumored to be planning to force Chinese banks to close any accounts they have with Bitcoin exchanges by April 15. That news pushed the CoinDesk BitcoinPrice Index from about $585 on Wednesday to as low as $477 on Thursday. Over the weekend the price of Bitcoin
Singapore-registered companies who buy and sell bitcoins or exchange the digital currency for other goods and services must pay taxes for these transactions, says the Inland Revenue Authority of Singapore (IRAS), Singapore’s tax authority. The government’s stance towards the volatile cryptocurrency, which once again soared above $1,000 in price, echoes countries like Germany, Norway, and the United Kingdom, all of which deemed Bitcoin taxable. In a series of emails sent to Singapore-based Bitcoin brokering service
Kolkata, Jan 5: The attention of the Commerce Ministry and Tea Board has been drawn to a section of small and specialised tea growers and exporters opting for US-based online trading platforms to use digital currency Bitcoin as a means of expanding their international business, bypassing the normal banking channels and thus depriving the Exchequer of revenue. The price this kind of shipment fetches is fantastic, around $11 per 15 gm of tea. Any consignment
Zynga hasn’t had much to celebrate lately — the social gaming company suffered a huge drop in users last year and it hasn’t had a hit title in some time. But now it’s taking a new tack, turning to the Bitcoin community. In a post on Reddit’s Bitcoin subreddit last night, the Zynga team said it is currently “testing expanded payment options for players to make in-game purchases using Bitcoin,” specifically through the payment provider