Bitcoin news: Monex considers buying Coincheck, IT Voor
The acquisition would kickstart Monex’s virtual currency business
04/04/2018: Monex, a commercial foreign exchange service, has voiced an rente ter buying Coincheck, the bitcoin business that wasgoed the victim of a phat digital money theft earlier this year.
If the overeenkomst, which wasgoed very first reported by Reuters goes ahead, it will give Monex the chance to use Coincheck’s trading toneelpodium and snipe its customers, transitioning them to its products instead, albeit it’s unclear how many customers Coincheck has at present.
Monex, however, presently has 1.74 million customers and is estimated to hold Four.Three trillion yen ( 28 billion) te customer currency. At present, it doesn’t have a cryptocurrency business, but has realised the potential and will look to Coincheck to provide guidance. Coincheck is estimated to be the fifth largest crypto currency exchange te Japan, which would give Monex fairly the embark to its virtual currency business.
It’s thought that up to 380 million worth of digital currency wasgoed stolen from Coincheck ter a high-profile attack ter January, albeit the company hasn’t formally exposed how much wasgoed taken. It did, however, pay back investors succesnummer by the cyber attack 46 billion yen ( 307 million) from its own reserves.
Following the theft, the Japanese authorities came down hard on all the country’s digital currency providers, accusing them of being lax overheen customer gegevens protection and money laundering regulations.
Read about the threat posed by cryptocurrency mining ter this research paper exploring the 2018 cybercrime trends, and predictions for 2018.
27/03/2018: Twitter has said it will join Facebook and Google ter banning adverts for initial coin offerings on its verhoging overheen concerns that users could be duped by misleading claims.
“Advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally,” said a Twitter spokesperson, speaking to Bloomberg on Monday.
“Wij know that this type of content is often associated with deception and fraud, both organic and paid, and are proactively implementing a number of signals to prevent thesis types of accounts from engaging with others ter a deceptive manner.”
Adverts for token sales had enhanced te volume across social media sites following the rise te popularity of cryptocurrencies last year, permitting potential investors to trade contant for fresh speculative cryptocurrencies set up to support the launch of a fresh service.
While many of thesis ICOs are legitimate attempts at crowd-funding, users are frequently stung by projects that either fail to live up to promises or outright scam their investors out of their funds.
Facebook wasgoed the very first to take act against this style of investment, banning all cryptocurrency adverts ter January, while Google straks said it would also embark removing all adverts kicking off ter June.
Twitter’s fresh stance is not an outright geobsedeerd, spil it said it will be restricting adverts to only those cryptocurrency exchanges and wallet services that are suggested through public companies already listed on major stock exchanges.
Bitcoin is hovering at just under $8,000 at the time of writing, and has yet to recover from the market slump at the begin of the year which spotted hundreds of billions wiped off the cryptocurrency market almost overnight.
Nineteen/03/2018: Cryptocurrency traders succesnummer with substantial tax bills
Bitcoin owners may soon find themselves faced with a nasty tax bill that’s worth more than the value of their coins, amid a market downturn that shows no signs of recovery.
Three months ago users were loving a cryptocurrency market surge that eyed the price of Bitcoin surge to just bashful of $20,000, only for the market to crash at the begin of 2018, wiping more than half of the value of the currency.
For those that traded ter the US, and therefore were subject to Internal Revenue Service tax laws, it’s likely that they have capital gains to report that may be ter excess of the value of any coins they now hold.
The kwestie wasgoed highlighted earlier this week when one Reddit user exposed they owed $50,000 to the IRS following trades valued at $120,000 – coins that are now worth $30,000.
“I took most of my savings and bought 8 bitcoins back ter early 2018 for about $7200,” a Reddit user who goes by the name ‘thoway’ said te a postbode. “Around December 2018, I got caught up te the altcoins madness and sold most of my bitcoins (about $120k worth) to buy a bunch of different coins.”
“I didn’t know this back then but it looks like I owe income taxes on those trades, which adds up to about $50k if I add up state (California) and federal. But with the crash that happened recently, I added up my altcoins and I only have like $30k worth. I only have about $5k ter other savings.”
“I feel like I might have accidentally ruined my life because I didn’t know about the taxes. “
At the time of writing, Bitcoin wasgoed trading at $8,200, Ethereum at $521, and Litecoin at $153, all significantly down since the commence of the year.
Ter November the IRS informed currency exchange Coinbase that it would need to provide the details of almost 15,000 users who had traded more than $20,000 ter digital currencies inbetween 2013 and 2015. The position is that failing to report capital gains could be considered tax evasion.
While IRS rules are fairly straightforward, the same can’t be said of other countries fighting to overeenkomst with tax issues and consumer protections.
UK traders are presently subject to three-year-old guidelines, implemented when Bitcoin wasgoed worth just under 500, which state that those who buy or sell cryptocurrencies are subject to capital gains tax. This would force traders to pay 10% on transactions overheen 11,700 (the current exemption) if they are basic rate payers, or 20% for higher rate payers.
However, whether any profit is chargeable is judged on a “case by case onderstel”, and that “depending on the facts, a transaction may be so very speculative that it is not taxable or any losses relievable.. For example gambling or betting wins are not taxable and gambling losses cannot be offset against other taxable profits,” the guidance reads.
Importantly, the UK has yet to make any requests similar to the IRS on cryptocurrency exchanges, but given the number of users trading te high value transactions, that could switch.
14/03/2018: Google bans cryptocurrency adverts ter fresh clampdown
Google is banning all advertising for cryptocurrencies and initial coin offerings, joining Facebook ter a clampdown on speculative financial services.
Commencing te June, the world’s largest provider of digital ads will block promotions for platforms such spil Bitcoin across its entire portfolio of services, including Youtube and any third-party websites that buy adverts from Google.
Adverts for cryptocurrencies, exchanges, digital wallets, trading advice, and initial coin offerings will all be banned under the revised policy, according to a epistel Google statement released on Tuesday.
Other instruments, such spil binary options trading and spread betting, which often sell themselves spil get-rich-quick schemes to internet users, will also be banned.
Google hasn’t given its reasoning for the verbod, but it’s likely to be ter response to a rising number of online scammers attempting to take advantage of the roem around cryptocurrencies by promising quick comebacks on investments.
It goes after a decision by Facebook te January to geobsedeerd all adverts for Bitcoin and similar crypto assets, which it made clear at the time wasgoed an attempt to protect its users from exaggerated promotions.
Initial coin offerings, which ask investors to fund a fresh cryptocurrency te order to support a service or product, have become particularly problematic for online advertisers. While there are many legitimate offerings, it’s thought that only half of the ICOs ter 2018 successfully made it out of their initial funding stages, and many were deliberate attempts to scam their investors.
The kerkban contributes to a much broader regulatory clampdown on the crypto market, with major markets ter the US, China, Japan and South Korea having already made it clear that tougher regulations are on the horizon.
The tightening houvast of the market since the Fresh Year has meant the cryptocurrency market has struggled to recover from latest price adjustments, and has largely remained stagnant overheen the last three months. At the time of writing, one Bitcoin is worth $8,944, $Ten,000 less than its December high.
05/03/2018: Bitcoin heist sees 600 crypto-mining servers stolen ter Iceland
Authorities te Iceland have reportedly arrested 11 people ter connection with the theft of 600 cryptocurrency mining servers from gegevens centres across the country.
Police believe that this wasgoed one of Iceland’s thickest everzwijn burglaries, with Icelandic publications branding it the “Big Bitcoin Heist”.
Of the 11 arrested, only two people remained ter custody after a hearing at Reykjanes District Court on Friday, Associated Press reported.
Police are still looking for the servers, which are evidently valued at $Two million. The heist happened te the southwestern Reykjanes peninsula, tho’ the authorities did not name the companies that were affected.
Olafur Helgi Kjartansson, police commissioner for the region, described it spil a “grand theft on a scale unseen before”, adding that it wasgoed “a very organised crime”.
Prosecutors believe that the criminals behind the heist masterminded four burglaries ter total. Three of them happened te December, while another occurred te January.
Cryptocurrencies, and Bitcoin te particular, are potentially lucrative assets for criminals, with their values rising, if volatile. Bitcoin, for example, reached $20,000 at the end of 2018, but has since plunged to around $11,000. They also make it more difficult for police to go after criminal transactions due to their anonymous nature.
“The weakest point ter any cybercrime operation used to be the monetisation – e.g. selling stolen gegevens or transferring ransom money,” Max Heinemeyer, director of threat hunting at cyber security hard Darktrace, told IT Voor. “There used to be a money trail that law enforcement could trace back to the offenders. Cryptocurrencies permit anonymous monetary transactions, basically eliminating the traceable money trail that wasgoed the largest challenge for a loterijlot of cyber criminals te the past.”
Governments across the world have voiced concern about digital currencies, with China and South Korea already having implemented rigorous regulations on crypto-mining.
Last week, Bankgebouw of England Governor Mark Carney slammed cryptocurrencies for causing a “global speculative mania”.
02/03/2018: Japan’s crypto market to self-regulate after $530m heist
Sixteen of Japan’s cryptocurrency exchanges have said they will form a self-regulatory bod ter order to garner trust ter the very volatile industry and undo the harm caused by a $530 million heist ter January.
The group is to form an organisation that will enforce standards for cyber security and best practice across the industry, an effort that’s almost certainly an attempt to get ahead of government-led regulations that some fear could stifle the cryptocurrency market te the country.
All 16 government registered exchanges have signed up to the organisation which seeks to operate under the country’s Payment Services Act, spil reported by Reuters, including bitFlyer and GMO Coin.
There’s presently no name or launch date for the organisation, albeit sources have suggested the assets will form at some time ter the Spring.
It goes after a $530 million hack on Tokyo-based crypto exchange Coincheck ter January, which sparked noodsignaal that the industry wasgoed doing very little to ensure customers are protected. Calls for industry-wide security standards were made when it wasgoed discovered Coincheck had stored funds ter wallets connected to their networks rather than te isolated, offline wallets that many other exchanges favour.
An extra sixteen exchanges, including Coincheck, have also bot permitted to proceed operating while their applications to the self-regulatory figure are reviewed.
If the assets is able to self-regulate successfully, it could be a compromise to heavy-handed government oversight that menace exchanges te South Korea, one of the most influential markets ter the cryptocurrency industry.
02/03/2018: EU warns of crypto regulation if risks are not addressed
The European Union has warned that it will start regulating cryptocurrencies if the market’s volatility, born from spikes ter the value of Bitcoin and others, is not addressed by the industry.
Policymakers have long bot worried by the lack of regulatory oversight of alt-currencies, which have grown amazingly popular overheen the past year, despite the significant risks to investors.
Bitcoin, ter particular, has loved cycles of giant success, peaking at $20,000 ter late 2018, only to plummet dramatically the next month, wiping off hundreds of billions from the market.
The accelerated rhythm of the cryptocurrency market, matched against the digital transformation of societies, has posed concerns, particularly spil the decentralised nature of the market means there’s a lack of accountability or central regulatory bod.
The anonymity it affords participants within its transactions has also created concerns that it will provide a major boost to illicit proceeds generated from drug sales and arms laundering.
“This is a global phenomenon and it’s significant there is an international follow-up at the global level,” Valdis Dombrovskis, the EU’s financial chief, said, spil reported by the Guardian. “Wij do not exclude the possibility to stir ahead by regulating cryptocurrencies at the EU level if wij see, for example, risks emerging but no clear international response emerging.”
Similarly, ter a Reddit ‘Ask Mij Anything’ session, founder and former CEO of Microsoft Bill Gates slammed cryptocurrencies by going so far spil to say Bitcoin had “caused deaths” with its use te the drug trade.
The Treasury Committee recently announced it would be launching an inquiry into whether the technology is harmful, while Lloyds announced it wasgoed banning their customers from using credit cards to purchase bitcoin.
Elsewhere across Europe, there is a cautious pursuit of bitcoin. Germany and France have recognised its potential for innovation and growth but believe it presents substantial dangers to investors and, without the necessary regulatory frameworks, could be a sperzieboon to the financial crime industry.
22/02/2018: UK MPs launch inquiry into risks of cryptocurrencies
The UK’s Treasury Committee has said it will investigate digital currencies and the underlying blockchain technology, te an effort to assess the potential benefits and risks facing consumers, businesses and the government.
The scope of the cross-party inquiry will include an assessment of the growing popularity of cryptocurrencies like Bitcoin, which te theory could lead to more stringent regulations for trading te the UK.
It aims to “scrutinise the regulatory response” to digital currencies from the likes of the Bankgebouw of England, the Financial Conduct Authority, and government ministers, and assess whether regulations could be rebalanced to provide “adequate protection for consumers and businesses without stifling innovation”, according to a statement issued on Thursday.
Particular attention will be given to the risks that digital currencies pose to businesses and consumers, such spil the market’s volatility and its use spil the currency of choice for cyber criminals and money launderers.
The Treasury Committee will also look at the development of distributed ledger technologies such spil blockchain and its potential effects on UK financial institutions and infrastructure, which includes the central handelsbank.
“This inquiry comes at the right time, spil regulators and Governments wrestle with latest events ter cryptocurrency markets,” said Treasury Committee member and Labour MP Alison McGovern. “Fresh technology offers the economy potential gains, but spil recently demonstrated, it may also bring substantial risks.
“It is time that Whitehall and Westminster understood cryptocurrency better, and thought more clearly about the policy environment for blockchain technology.”
The cross-party committee will take evidence from market experts spil part of the investigation, before submitting a report to the government outlining its recommendations.
It’s likely that the UK government will fall into line with other European countries looking to enact tougher regulations on the use of cryptocurrencies – France and Germany have both signalled their desire to have the implications of cryptocurrencies placed on the zakagenda at the G20 summit te Argentina ter March.
However, the UK’s inquiry into digital ledger technology is most likely going to strike a more positive tone, spil the likes of the Bankgebouw of England have already worked closely with blockchain startups on projects involving asset exchanges and the tracking of public money.
16/02/2018: Bitcoin exchange bug overcharged customers thousands
The Bitcoin exchange Coinbase has overcharged users thousands of dollars due to an error ter its system, but will offerande refunds.
Customers were charged numerous times for transactions, which Coinbase has explained spil a result of a bug tied to how credit companies billed for the service. Having stationary the kwestie, the Bitcoin exchange has vowed to refund those affected.
Coinbase apologised for the error and said it wasgoed, “actively working with banks, processors and networks to improve the digital currency purchasing experience”.
The popular Bitcoin exchange has attributed the error to switches te the Merchant Category Code, which is used by Visa to identify debit and credit transactions. After banks issued warnings they would no longer permit customers to buy cryptocurrencies using credit cards, the switches kicked into effect.
Users took to Coinbase’s Reddit forum to voice their complaints, with one citing to a $67,000 charge and another being klapper with $17,000.
“I made ALL of that money ter crypto overheen the past 8 months. This is not good and I feel sick. I knew there is risk to lose money te this space, but not like this!! I may spil well have burned it all. I hope Coinbase implodes!” raged Reddit user ipizi.
This will simply fuel worries echoed by banks and governments that cryptocurrency is posing a risk. Banks are largely worried that consumers are investing te Bitcoin to pay off debts, and instead worsening their situation.
There are also concerns that the anonymous nature of cryptocurrency transactions is powering criminal behaviour such spil money laundering and funding both the drugs sale and arms sale.
The Treasury will reportedly regulate Bitcoin and require traders ter cryptocurrency to disclose their identities and report suspicious activity.
14/02/Legal: American news publication Salon has announced it is testing the use of cryptocurrency mining software to boost revenues.
Te a bid to tegenstoot ad-blockers, which are often the main source of generating revenue for websites, Salon has explained that te a trial test it will give readers an option of accepting ads or permitting spare parts of their computer’s processing power to be mined for Monero, a cryptocurrency that is similar to the well-known Bitcoin.
The progressive-leaning webstek described this to their readers spil their intention to “contribute to the advancement of technological discovery, evolution and innovation.”
It’s believed the webstek is using CoinHive, a mining contraption that wasgoed used to hack numerous government websites, including the British. However, Salon notifies users and requires them to agree to use the device.
The computer’s spare processing power is harnessed when users are browsing the Salon webstek and readers will reportedly hear their machine’s cooling ventilatoren stir into life, spil the rekentuig starts to utilise more power.
This budge by Salon represents a fresh method used by news websites to generate revenue – many have used online subscriptions, pay-walls and donations to fund their journalism.
13/02/2018: Bitcoin requires more energy than powering Iceland
Bitcoin is causing serious power supply problems ter Iceland according to energy executive Johann Snorri Sigurbergsson, telling the gegevens centres supporting the virtual currency’s use are consuming more power than all of the country’s homes.
He added the Icelandic population is excited about leaping on Bitcoin mining opportunities, but if everyone who’s voiced an rente te mining starts taking part, it’s unlikely the energy infrastructure will be able to take it.
Almost all of Iceland’s power comes from renewable sources and many of the companies building gegevens centres te the country want to stick to their guns and make use of green energy.
“What wij’re observing now is. you can almost call it exponential growth, I think, te the [energy] consumption of gegevens centres,” Sigurbergsson told the Big black cock. “I’m getting a loterijlot of calls, visits from potential investors or companies wanting to build gegevens centres ter Iceland.”
If all of thesis gegevens centres were to go ahead, the country would run out of energy to supply both them and homes and businesses.
Just spil a comparison, Iceland’s population of 340,000 people use around 700 gigawatt hours every year. If Bitcoin mining resumes to rise at its current rate, Bitcoin mining operations will use around 840 gigawatt hours of violet wand te the very near future. This energy is used for powering the computers te the gegevens centres, spil well spil cooling systems.
08/02/2018: Bitcoin stable again after crash
Yo-yoing digital currency Bitcoin is stable again today after its price plummeted to a two-month low of sub-$7,000.
The decline came after several banks around the world banned their customers from using credit cards to purchase cryptocurrencies, fearing they’d have to pay for unpaid debts that result from price fluctuations. On Tuesday, it wasgoed trading at just $6,430.30, down two-thirds on its all-time high of almost $20,000 value from mid-December.
However, gegevens on crypto currency go-to, Coinmarketcap.com, demonstrated that Bitcoin surged by 26% ter the last 24 hours to past the $8,000 mark following the makeshift crash, along with many other popular digital currencies, including Ethereum, which is up 32%, Ripple and Bitcoin Specie, which both rose 22% and Cardano, which is up 25%. Bitcoin is now trading at $8,496.17 (at the time of writing).
Out of the top Ten most valuable cryptocurrencies, all have seen a boost of at least 20%. It’s unknown what exactly caused the rise and fall and rise again of the currencies, but Bitcoin and the like are known for being particularly volatile, meaning there’s no real way of knowing if it’s prospering or about to take a nose dive into the black.
Nevertheless, the news of the currency’s growth is encouraging news for investors, many of whom were most likely a little sweaty palmed when news of the crash spread yesterday.
06/02/2018: Bitcoin is continuing to plummet te price and has succesnummer the sub-$7,000 mark for the very first time since last November.
On digital currency exchange Coinbase, the cryptocurrency is now trading at just $6,430.30 (at time of writing), down two-thirds on its all-time high of almost $20,000 value from mid-December.
Coindesk spotted the same punt hitting other cryptocurrencies such spil Ripple, which is down 14% and Ethereum’s Ether, which has also dropped 13% ter the last 24 hours.
The decline comes after several banks around the world banned their customers from using credit cards to purchase cryptocurrencies, fearing they’d have to pay for unpaid debts that result from price fluctuations.
However, according to CoinMarketCap, the current total market capitalisation of all digital currencies taken together is up, standing at $397 billion, which is a welgevoeglijk increase of 14% from Friday’s figure of $348 billion.
05/02/2018: Lloyds Handelsbank bans credit card customers from buying Bitcoin
Lloyds Banking Group has blocked its customers from buying Bitcoin and other cryptocurrencies with their credit cards.
Kicking off from today, the kerkban affects all eight million credit card customers of Lloyds Handelsbank, Bankgebouw of Scotland, Halifax and MBNA.
The decision comes after Bitcoin spotted a druppel of 30% to just overheen $8,200 on Friday, the lowest it has bot for almost five years, while it plunged further to $7,829 this morning from a high of almost $20,000 overheen Christmas.
Lloyds is reportedly worried it will have to foot the bill for unpaid debts should the price of Bitcoin proceed to druppel. However, the kerkban is said to only affect credit card purchases, and customers will still be able to use their debit cards to buy cryptocurrencies.
Commenting on the decision, a Lloyds spokeswoman told the Big black cock: “Wij continually review our products and procedures and this is part of that.”
IT Professional has contacted Lloyds for comment.
Lloyds isn’t the only bankgebouw te the world declining purchases of cryptocurrencies. Te the US, JPMorgan Pursue, Canap of America, and Citigroup all halted purchases of Bitcoin and other cryptocurrencies on their credit cards on Saturday, spil they don’t want the credit risk associated with the transactions.
UK games toneel Steam dropped support for Bitcoin last December due to the currency’s fluctuations, which resulted te unpredictable transaction fees for users.
02/02/2018: A series of clampdowns and advertising bans have rocked the cryptocurrency market, sending prices plummeting and wiping off hundreds of billions of dollars almost overnight.
Bitcoin witnessed its price bury to $8,200 on Friday morning, officially undoing its December surge which eyed prices rocket from $8,300 to just under $20,000 overheen the course of 30 days, marking the steepest decline te the currency’s history.
The slide began after news emerged that Bitfinex, one of the world’s largest cryptocurrency exchanges, wasgoed being investigated by the US Futures Trading Commission overheen its ties with a digital asset known spil Tether.
Tether wasgoed designed to be a one-to-one with the US dollar, permitting for the benefits of cryptocurrency trading with the stability of a fiat currency. However, concerns were raised after critics claimed the reserves were under-capitalised, with more Tether tokens being created than the amount of US dollars being deposited to support the currency.
There are presently two billion Tether tokens te circulation, yet Bitfinex has yet to provide evidence that there is $Two billion ter its accounts.
The market wasgoed succesnummer again when the Indian government said it would budge to kerkban all cryptocurrency trading ter the country, and yet again when Facebook announced it would be placing a verbod on all cryptocurrency and ICO advertisements on its toneelpodium, citing mistrust of the industry and the potential for users to be misled by shaky investment opportunities.
The series of bullish moves against the cryptocurrency industry has meant the likes of Bitcoin, Ether, Bitcoin Metselspecie and Litecoin have struggled to recover from its most latest slump following the now abandoned proposals by the South Korean government to geobsedeerd trading te the country.
99 of the top 100 cryptocurrencies by market cap were down spil much spil 35% at the time of writing, including the verrassing succesnummer Ripple which is presently trading at $0.7, almost half that of its all-time high te December.
01/02/2018: Analysts warn price of Bitcoin could crash by 80% if being artificially pumped by Tether
Currency analysts have warned that the price of Bitcoin could crash by up to 80% if it turns out the price has bot artificially pumped up by controversial crytpocurrency Tether.
The cryptocurrency experts warned on Wedsnesday that if the cryptocurrency Tether is exposed to have bot artificially enlargening Bitcoin’s value, it would result te a “bloodbath” for investors.
Tether is a so-called “stablecoin” which aims to maintain a value of one US dollar vanaf tether and is wielded by trading company Bitfinex, which has recently come under scrutiny by a blogger identifying themselves spil “Bitfinex’d”.
The blogger has taken to Twitter and YouTube to warn that Tether has bot plucked from skinny air to boost the value of Bitcoin, leading to it being described by experts spil the “ticking time bomb” of the cryptocurrency world, which could trigger an event similar to that of the 2014 collapse of the Mt. Gox exchange.
Nicholas Weaver, a professor from UC Berkeley’s International Pc Science Institute, tweeted recently that a “bloodbath” would ensue if Tether fails to hold its value and reassure investors.
“At current prices, nipt fresh Bitcoin requires $Legal million of nipt fresh dollars flowing te to maintain the price,” his tweet read. “Yet there is a nipt $100 million a day of fake dollars te the form of Tethers. If that tether printing press everzwijn violates, there will be a true bloodbath on the cryptocurrency prices. Good.”
Bitcoin pro David Gerard, author of Attack of the 50 Foot Blockchain, added that everyone te crypto “is very worried about the tether situation, and if thesis truly count spil dollars”.
The warnings come not long after Japanese exchange Coincheck confirmed it had lost up to $530 million ( 372 million) te a hefty hack on Friday.
31/01/Legitimate: Samsung has reportedly commenced mass production of a fresh range of chips designed to be used te cryptocurrency mining, with a major partnership already lined up with a Chinese hardware provider.
The tech giant is said to have perfected a range of application specific integrated circuit (ASIC) semiconductors, which are to be supplied to an as-yet unnamed Chinese hardware company from January, according to South Korean outlet The Bell.
The semiconductors are said to be bespoke chips designed to optimise the mining of cryptocurrencies which typically requires high-speed, high-efficiency hardware.
Samsung (Yes Samsung) has entered production phase of ASIC miners and mining equipment specialized for bitcoin and cryptocurrency mining. This is unprecedented. I believe this would provide Bitmain its very first real competitor.https://t.co/66fwxozEVP
Bitcoin mining, ter particular, requires vast amounts of computational power, something that has bot served te latest years by large companies suggesting dedicated mining equipment, particularly te China where electro-therapy costs are relatively cheap.
While Samsung has yet to confirm the report, it does coincide with the company’s fourth quarter results, which, despite an overall decline for its Foundry business, pointed to enhanced sales ter China thanks to fresh customer contracts. It also pointed to enlargened earnings overheen the next quarter due to a greater request for cryptocurrency mining chips.
Paul Armstrong, author of ‘Disruptive Technologies: Understand, Evaluate, React’, said that competition from Samsung should stabilise the cryptocurrency mining market, which is presently predominated by the likes of Bitmain and Canaan Creative, both of which presently source their chips from Taiwan’s TSMC.
“Samsung is a yam-sized force te the industry and spil Asian markets are polarised somewhat this goes a long way to adding some tranquil to choppy investor seas,” said Armstrong, speaking to IT Professional. “One thing this budge will do is keep Bitmain on their toes and should cause some more competition, which considering Bitmain’s dominance is no bad thing.
“Time will tell what sort of influence this has on the market and Samsung’s price and competitive edge but one thing this does showcase the world [is] Samsung isn’t afraid of fresh technologies, placing a bet and getting their forearms dirty, something many companies are increasingly bad at or cautious about doing.”
26/01/2018: Prime Minister Theresa May has said the government is ‘earnestly considering’ a tweak down on cryptocurrencies following fears that criminals are exploiting the anonymity of platforms such spil Bitcoin.
“Te areas like cryptocurrencies, like Bitcoin, wij should be looking at thesis very earnestly,” said May, te an vraaggesprek with Bloomberg. She added that because the use of Bitcoin has bot “increasingly developing”, a tougher stance may be required “precisely because of the way they are used, particularly by criminals”.
Cryptocurrencies have long bot used spil a way to finance criminal activity online, with hackers exploiting the anonymity that platforms such spil Bitcoin provide. More recently, criminals have commenced adopting other cryptocurrencies, particularly Monero which is designed to be even more difficult to trace.
May’s comments weerklank calls from other nation states that more confinements need to be placed on the use of cryptocurrencies. The market is still reeling from the news that South Korea is considering a finish project on online cryptocurrency exchanges, a stir that some fear would send the market into a nosedive.
Compared to the South Korean market, where some of the world’s largest exchanges are headquartered, a clampdown te the UK, or even an outright geobsedeerd, is unlikely to have a significant influence given that it boasts only one major exchange.
Cryptocurrencies have yet to fully recover from the fresh South Korean stance, with Bitcoin still operating at $Ten,000, overheen $9,000 below its all time high last month.
22/01/2018: Bitcoin will see a ample crash overheen the next year, Wall Street accomplished Peter Boockvar predicted yesterday, claiming that this is the only outcome of a “bubble like this”.
Ter an vraaggesprek with CNBC, the chief investment officer at Bleakley Advisory Group said the crash might be ter the form of an epic plunge or a slow and sustained druppel. Nevertheless, he said it’s coming and is thus te danger of pulling down 90% from current levels.
“When something goes parabolic like this has, it typically completes up to where that parabola began,” he told CNBC’s Futures Now demonstrate.
“I wouldn’t be astonished if overheen the next year it’s down to $1,000 to $Three,000.” Presently Bitcoin is trading at $11,819, however it peaked at $Nineteen,000 shortly te December.
However, Yale economics professor Robert Shiller, who has also previously discribed Bitcoin spil “the best example of a bubble”, told Coin Telegraph on Friday that while Bitcoin “might totally collapse and be forgotten” it’s also possible that it “could stay on for a good long time, it could be here te 100 years”.
The predictions come after another analyst claimed Bitcoin could kasstuk inbetween $50,000 and $100,000 te 2018 (see below).
Legal/01/2018: Despite latest price fluctuations, Bitcoin’s value could proceed to rise via 2018 to reach inbetween $50,000 and $100,000, an analyst has predicted.
This means its value would need to increase by 635% from its current highest value of $13,601.43.
Kay Van-Petersen, an analyst at Saxo Canap, thinks the virtual currency will rise significantly overheen the next year after correctly predicting its value previously. Ter December 2016, he said he thought Bitcoin’s value would surpass a value of $Two,000 te 2018. Sure enough, it reached that figure and beyond by May.
“Very first off, you could argue wij have had a zindelijk correction te Bitcoin, it has had a 50% pull back at one point, which is healthy,” Van-Petersen said, reported by CNBC. “But wij have still not seen the total effect of the futures contracts.”
Previously, Van-Petersen said it wasn’t likely the virtual currency would reach $100,000 for Ten years.
The journey to $100,000 won’t be without bumps te the road, tho’, he said. It’s likely the currency will proceed to level out and then bump up, or re-rate spil it’s known, te stages.
But albeit Bitcoin is the market leader now, Van-Petersen thinks virtual currency fanatics should keep an eye on rival Ethereum too, because it’s possible the outsider could overtake Bitcoin ter future.
“Ethereum came after Bitcoin, it has a more unified leadership than Bitcoin,” he said. “They seem to be a bit further along the way ter regards to forming the solution to scaling issues. And you can see transactions on their side eclipses transactions across other cryptos.”
17/01/2018: Bitcoin plunges below $Ten,000 following uncertainty ter South Korea
Bitcoin plunged to below $Ten,000 on digital currency exchange Coinbase yesterday evening, along with several other major crytocurrencies, such spil Ethereum, which dropped 30% to below $1,000.
While Wall Street said there wasgoed no apparent reason for Bitcoin’s fall ter stock price, violating below $Ten,000 to $9969.01, it did go after comments from South Korean authorities regarding tougher regulation on digital currency trading.
Nevertheless, it only fell below the ‘psychological benchmark’ just shortly before it embarked to tick higher and above $Ten,000 again. At the time of writing, it wasgoed at $Ten,457.Ten
Bitcoin traders, and investors te other digital currencies, are still left with concerns spil uncertainty looms around South Korea’s government’s attitude to cryptocurrencies, with the country being one of the largest crypto markets ter the world. There’s fears that the country could block such trading altogether after finance minister Kim Dong-yeon said banning crypto trading wasgoed “a live option”.
The matter is presently being reviewed by the country’s government. Such a verbod would require a majority vote from the country’s National Assembly, which the Evening Standard reports could take months or possibly years.
16/01/Legitimate: KFC embraces cryptocurrency hype with Bitcoin Bucket
Swift food favourite KFC has commenced selling a special Bitcoin edition bucket of its popular chicken – and you guessed it, you can buy it with Bitcoin.
The company’s selection of poultry themed treats includes “10 Original Recipe Tenders, Waffle Fries, Med Side, Med Gravy and Two Dips,” and costs whatever the omschrijving of CA$20 is at the time of purchase. At the time of writing, this wasgoed 0.0010102 Bitcoin.
However, the bucket can only be sold te Canadian KFC delivery zones, presumably because it’s only bot given the green light with a limited number of authorities. KFC explained its Bitcoin bucket is proving hugely popular. So popular, te fact, it keeps selling out of the selection buckets.
“A loterijlot of you want to buy ter Bitcoin, which means wij keep selling out,” the company said on its regional pagina. “Keep on checking ter for restocks of this Bucket. Longing chicken now? Our Original Recipe is available for purchase and delivery with old-fashioned people money.”
Even if you’re not te Canada, or have no rente te buying KFC with Bitcoin, it’s a handy device to keep tabs on the value of Bitcoin at any time. The dynamically-updated pagina switches every few seconds so fanatics can make sure they get the best overeenkomst for their chicken.
“Despite the ups and downs of Bitcoin, the Colonel’s Original Recipe is spil good spil always,” the company said. “So, trade your Bitcoins for buckets and invest ter something finger lickin’ good.”
11/01/2018: Confusion overheen South Korean crypto kerkban sends Bitcoin tumbling
Confusion overheen reports South Korea wasgoed ready to announce a finish geobsedeerd on cryptocurrency trades that zometeen turned out to be incorrect has caused the price of Bitcoin to plummet, sending shockwaves through the market.
Reports surfaced earlier today that the South Korean justice ministry wasgoed preparing a bill to geobsedeerd the trading of all digital currencies on exchanges operating ter the country.
Justice minister Park Sang-ki said that there were “superb concerns regarding virtual currencies and the justice ministry is basically preparing a bill to verbod cryptocurrency trading through exchanges,” according to Reuters.
The news wasn’t entirely unexpected, given comments made by South Korean prime minister Lee Nak-yeon that suggested the craze might “omkoopbaar the nation’s youth”.
Spil a result, the price of Bitcoin fell through the floor, tumbling from an already relatively low position of just under $15,000 to $13,100 te a matter of hours. At the time of writing the currency has yet to recover, hovering at $13,200. Ether, Litecoin, Ripple and Dash were also down following the news.
However, South Korea’s financial watchdog, the FSC, has said government ministries are only discussing the possibility of further confinements, within the setting of trade regulations, and that several ministers are divided on how best to regulate the market.
“. the FSC is mapping out measures to restrict [cryptocurrency] transactions to some extent,” which may eventually lead to “an all-out kerkban,” said FSC chairman Choi Jong-ku, speaking to a Yonhap reporter. “The limitation is aimed at minimising side effects of bitcoin transactions and reducing speculative investment.”
This means that while a potential verbod on cryptocurrency exchanges is being discussed, there are no instantaneous plans to kerkban trades te the country, albeit the current geobsedeerd on ICOs will remain ter effect.
The confusion proved to further highlight Bitcoin’s volatility, and its mushy ties to the South Korean market, which is strongly invested te cryptocurrencies. South Korean presently sees the 5th highest volume of global Bitcoin trades, comparable to the entire of Europe.
11/01/2018: Warren Buffett doesn’t think Bitcoin or other cryptocurrencies will last, he has told CNBC, suggesting trading virtual currencies is not a good idea and will not end well for those involved.
“Te terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” the investor and chairman of Berkshire Hathaway said on CNBC‘s Squawk Opbergruimte programme.
Buffett’s vice chairman, Charlie Munger, supported his boss’s position, adding that it’s not only cryptocurrencies causing problems – venture capital is also a trend that won’t last. He said there’s too much money te VC, comparing it to the dotcom bubble.
“Bitcoin and the other cryptocurrencies are also bubbles,” he said. Investors “are excited because things are going up at the uur and it sounds vaguely modern. . But I’m not excited,” he added.
Dressoir also said he would avoid “going brief” on any investment ter Bitcoin. This process involves selling shares of borrowed stock, which the investor then hopes the value of which will increase overheen time, then returning them to the investor to make a profit.
“When it happens or how or anything else, I don’t know,” he added. “If I could buy a five-year waterput on every one of the cryptocurrencies, I’d be glad to do it but I would never brief a dime’s worth.”
“Wij don’t own any, wij’re not brief any, wij’ll never have a position te them,” he said. “I get into enough trouble with things I think I know something about. Why te the world should I take a long or brief position te something I don’t know anything about.”
08/01/2018: Visa moves to block Bitcoin payment cards
Visa has blocked access to a range of prepaid Bitcoin credit cards, stopping users from being able to use them to make transactions or withdraw funds te Sterling or Euros.
Cards issued by BitPay, Cryptopay and Bitwala, which are operated by WaveCrest, have all stopped working spil of 5th January. The card issuers are now returning all funds to users.
Visa explained that it had made the decision to revoke WaveCrest’s Visa membership because it failed to serve with the payment providers operating rules.
“The termination of WaveCrest’s Visa membership does not affect other Visa issuers’ card programmes, including those using fiat funds converted from cryptocurrency,” Visa said te a statement. “Visa is committed to the security of its ecosystem and compliance with Visa’s operating rules is critical for ensuring the safety and integrity of the Visa payment system.”
Visa said that the cards had bot suspended due to “continued non-compliance with our operating rules”, adding that all card programmes voorwaarde serve with its membership regulations, spil well spil all applicable laws ter their company of operation.
“Following an announcement from our card issuer on behalf of Visa Europe, Bitwala cards are taken out of operation kicking off today. Our team is holding an emergency meeting to resolve the kwestie with the card holders best rente te mind and will make an update shortly,” Bitwala said on Twitter.
London-based Cryptopay said: “Unluckily, our card issuer instructed us to cease all Cryptopay prepaid cards embarking January 5th, 2018. All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP.”
BitPay said it wasgoed te talks with alternative providers about getting its card back up and running ter Europe, albeit it didn’t say who it wasgoed talking to or any further details about the situation.
03/01/2018: Peter Thiel helps Bitcoin comeback to growth with 10% spike
Bitcoin soared ter value on Tuesday following the announcement that Peter Thiel’s Founders Fund now own “hundreds of millions of dollars” worth of the cryptocurrency.
The price of Bitcoin spiked by overheen 10% to klapper around $14,500 vanaf coin after the fund bought $15 to 20 million of the digital currency, according to a report by The Wall Street Journal, with the fund telling investors that the bet is now worth overheen five times its principal investment.
Bitcoin wasn’t the ony cryptocurrency witnessing big gains te popularity this last week. A Bitcoin rival called Ripple bacome the 2nd most valuable virtual contant system overheen the weekend when market monitors claimed the digital currency kasstuk more than $100 billion ( 74 billion).
The surge ter valuation means that each Ripple coin, also known spil XRP, is now worth about $Two.34, much higher than the half a US cent they were worth a year ago.
22/12/2018: A sea of crimson for cryptocurrencies spil Bitcoin falls $6,000
The price of Bitcoin has plummeted almost $6,000 ter the past few days after narrowly missing an all-time high of $20,000 last weekend.
The world’s most popular and well-funded cryptocurrency has experienced bouts of volatility this week, one of which eyed almost $Two,000 wiped off te a matter of hours. At the time of writing, Bitcoin wasgoed trading at $13,900, essentially reversing the surge liked at the begin of December.
All 20 of the world’s top cryptocurrencies, including Bitcoin, Bitcoin Metselspecie, Litecoin, Ether, Ripple and Dash, klapper record highs overheen the past seven days, however, enlargened volatility, blamed largely on the year-end, has meant the majority of thesis are now down.
Bitcoin Specie, which succesnummer $Four,000 following its listing on Coinbase, is now down almost 30% to $Two,700, according to gegevens from Coinmarketcap, with Bitcoin Gold closely behind at 25% down.
The only green shoot ter a sea of crimson is Ripple, which has managed to ward off the expected downturn from a unexpected surge. After hitting its $1 milestone on Thursday, its price has steadily enlargened to $1.11 at the time of writing.
22/12/2018: Coinbase suspects foul play after Bitcoin Specie trades at $8,500
Digital currency exchange Coinbase has announced it will be investigating the possibility that its employees used insider skill to benefit from the latest launch of Bitcoin Metselspecie trading on the podium.
Bitcoin Specie (BCH), a cryptocurrency that emerged from a fork te Bitcoin on 1 August, became the fourth currency to be supported on the very popular exchange, behind Bitcoin, Ether, and Litecoin.
The news resulted ter a dramatic surge te the value of Bitcoin Specie that spotted it trading three times higher on Coinbase than any other exchange, peaking at $8,500. However, the podium noticed that not only had there bot an unusually high spike, the value of BCH began to creep up prior to an official announcement.
This prompted concerns that employees may have exploited the forthcoming support by buying BCH ter bulk on other platforms, with the skill it would trigger enhanced trading on Coinbase.
Coinbase CEO Brian Armstrong said the company is now investigating the launch, spil the unexpected spike ter value wasgoed far higher than anticipated.
“Given the price increase ter the hours leading up to the announcement, wij will be conducting an investigation into this matter. If wij find evidence of any employee or contractor violating our policies – directly or indirectly – I will not hesitate to terminate the employee instantaneously and take adequate legal act,” Armstrong said ter a statement.
He added that all Coinbase employees had bot prohibited from trading Bitcoin Contant overheen the past month spil the toneelpodium moved to support the currency and that this confinement had bot repeated numerous times.
“Wij’ve had a trading policy ter place for some time at Coinbase. The policy prohibits employees and contractors from trading on “material non-public information”, such spil when a fresh asset will be added to our toneelpodium,” added Armstrong. “Te addition to trading limitations, it prohibits communication of material non-public information outside the company. This includes to friends and family.”
BCH trading wasgoed shortly halted mere hours after its official launch pending an investigation, however, it shows up that Coinbase’s Ten million users are now once again able to buy and sell ter the currency.
Nineteen/12/2018: Bitcoin exchange Youbit shuts down following 2nd hack
Youbit announced today it is shutting down and filing for bankruptcy after it experienced its 2nd hack this year.
Youbit wasgoed hacked at 04:35 local time on Tuesday and lost 17% of its total assets, according to Reuters.
The exchange didn’t disclose the total amount lost but announced all customers’ cryptocurrency assets will be marked down 75% of its value. It has also stopped trading and will work to minimise customer losses.
An official from the Korea Internet &, Security Agency (KISA), the state agency responsible for responding to cyber attacks, told Reuters that police and KISA officials were embarking an investigation into the hacking.
Youbit had bot hacked te April and almost Four,000 bitcoins were stolen, with the country’s spy agency linking the attack to North Korea.
It’s a petite exchange ter the country’s cryptocurrency market with Bitthumb, the world’s busiest exchange, making up around 70% of the country’s market share.
“It’s unsurprising that lots of cryptocurrency-related organizations are being targeted by hackers at the ogenblik, spil there is fairly literally a lotsbestemming of money te it for the criminals,” said Dave Palmer, director of technology at Darktrace. “There is clearly a lotsbestemming of slagroom for security maturity ter organizations that have grown up overnight due to the boom ter cryptocurrencies.
“Conventional financial organizations have for a long time recognized that they’re going to be the targets of cyber-attack, so they invest ter cutting-edge cyber defences such spil ‘immune system’ technologies, but they also invest ter reserves so that if there is a successful attack, they can refund their clients,” he added.
“Cryptocurrency organizations need to understand that criminals will be attempting to hack them, and should not assume that it is possible to keep all attackers out of their networks fully. Instead, they need to use advanced AI technologies that can detect and fight back against emerging threats inwards the network, following many conventional financial organizations ter this mature and innovative treatment to cyber defence.”
The price of Bitcoin fell from $Nineteen,000 te the early hours of this morning down to around $17,700 at midday. It has leisurely began to grow again and, at the time of writing, is priced at $18080.89, according to Coindesk.
15/12/2018: UK canap regulator compares buying Bitcoin to gambling
The head of the Financial Conduct Authority has said that since the central banks and government don’t support Bitcoin it isn’t a secure investment.
Andrew Bailey compared buying Bitcoin to gambling spil it has the same level of risk, he said te an vraaggesprek with Big black cock Newsnight, effectively warning people away from investing ter the cryptocurrency.
Indeed, Bailey said that the cryptocurrency isn’t actually a currency spil it isn’t regulated ter its Bitcoin form.
“It’s a very volatile commodity ter terms of its pricing,” he added. Bailey said he would “caution people” against it spil wij know relatively little about what informs the price of Bitcoin.
“It’s an odd commodity spil well, spil the supply is immobile,” he said. “If you want to invest te Bitcoin be ready to lose your money – that would be my serious warning.”
Bailey denied that regulators were being left behind by cryptocurrencies and said the decision on whether to regulate them or not is down to the government and Parliament.
“It would be for Parliament ultimately to make that choice if it wished to do so,” he said. “I don’t press for that providing people understand very clearly this is a very volatile commodity.
“[But] if parliament wants to go further wij will cheerfully provide the evidence wij have and will support the decision they want to take.”
A Chicago exchange opened trading on Bitcoin futures this week (see below) and another exchange te the city is set to launch its own Bitcoin futures next week too.
Bailey admitted that if someone buys a future or option then “wij do come into the picture”. He also said it wasgoed unclear who buys the cryptocurrency spil the system is anonymous.
“You can’t go somewhere and look up the record of who possesses Bitcoin,” he said.
“If I thought there wasgoed evidence of people telling ‘you know what? I’m going to waterput my pension into Bitcoin’ – I would be very worried but wij don’t see that at the ogenblik.”
At the time of writing Bitcoin is presently priced at $17,710.75 and wasgoed priced at around $16,000 at the begin of the week.
Vivtvs, a company based ter Leeds, announced last week it would commence suggesting its employees the option to be paid te Bitcoin.
11/12/2018: You can now bet on Bitcoin’s future value
Speculators can now bet on Bitcoin’s future value, following the cryptocurrency rocketing past $16,000 today.
The Chicago Houtvezelplaat Options Exchange (CBOE) Global Markets opened trading on Bitcoin futures (XBT) yesterday at 17:00 CT, at an opening price of $15,000, and it said that 890 contracts had bot traded by Nineteen:15 CT. The exchange also said all transaction fees will be waived for the month of December.
Future contracts permit investors to trade for bitcoins at a immobile market value, reducing the risk te case the cryptocurrency all of a sudden pops or drops ter value.
At the time of writing, the price for Bitcoin is $16,516.97 according to Coindesk.
Bitcoin price overheen the last week – Coindesk
When the exchange commenced trading Bitcoin futures yesterday the price of the cryptocurrency rose from $14,529.89 to $15,732.84.
The Chicago Mercantile Exchange (CME), a rival to the CBOE, is also expected to launch Bitcoin futures for trading on Eighteen December.
A Tandem Handelsbank spokesperson said: “Albeit certainly volatile at present, wij see considerable chance te a number of cryptocurrencies, including Bitcoin. If anything, the current shift shows that digital currencies are here to stay.”
Bitcoin climbed $Trio,000 te 24 hours last week to reach $15,000 but its rise te value has also made it more difficult to use spil a trading currency, with games verhoging Steam ripping off support for Bitcoin due to its volatility (see below).
Steam, wielded by Valve, stopped supporting the cryptocurrency last Wednesday due to its unpredictable value’s influence on transaction fees.
07/12/2018: Bitcoin hits $15,000, but Steam ditches support due to market fluctuations
Bitcoin has climbed almost $Three,000 ter the space of 24 hours to reach $15,000 ( 11,000) te value, but its ever-changing market worth has led to games toneel Steam banning the currency for its volatility.
The cryptocurrency kasstuk fresh heights today, reaching $15,080 at the time of writing, bringing its market cap to overheen $250 billion.
But PC gaming verhoging Steam, wielded by Valve, stopped supporting the cryptocurrency on Wednesday due to its unpredictable value’s influence on transaction fees immobilized by the Bitcoin network that Valve cannot alter.
This spotted gamers recently paying $20 vanaf transaction, compared to $0.20 vanaf transaction when Valve primarily supported Bitcoin for Steam payments, it said.
“Thesis fees result ter unreasonably high costs for purchasing games when paying with Bitcoin,” a blog postbode written by the Steam team read. “The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically.”
Moreover, due to how quickly Bitcoin fluctuates te value, if a payment isn’t ended within a certain window of time, and its value switches before the payment goes through, Steam had to ask users to make another payment to voorkant the remaining balance or refund them if the value had dropped.
“Te both thesis cases, the user is klapper with the Bitcoin network transaction toverfee again,” Steam’s blog postbode explained. “This year, wij’ve seen enlargening number of customers get into this state.
“At this point, it has become untenable to support Bitcoin spil a payment option.”
Since its creation ter 2008, the process of mining to release fresh bitcoins has also required ever-more computation power, and that’s now having an effect on the climate.
Bitcoin analysis blog Digiconomist estimates Bitcoin’s energy consumption at more than 30 terawatts-hours of energy, more than some countries’ energy usage, and relies mainly on coal-based power plants te China.
“This results te an extreme doorslag footprint for each unique Bitcoin transaction,” the blog read.
Platforms that have built businesses around Bitcoin are still susceptible to hacks, too, with NiceHash, a marketplace matching people with spare computing power with Bitcoin miners, temporarily halting operations last night after confirming a security breach.
While it didn’t confirm how much had bot stolen, CoinDesk waterput the value at around $60 million.
06/12/2018: Bitcoin eyes $13,000 mark spil futures contracts loom
The value of Bitcoin smashed past $12,000 for the very first time ter its history earlier today and is likely to pauze the $13,000 mark before the weekend.
Bitcoin is presently trading at just overheen $12,500 at the time of writing, marking an almost $800 build up overheen the course of a single day and bringing the total value of Bitcoin’s circulation to overheen $200 billion.
The price of Bitcoin has bot steadily enlargening overheen the past few months, yet this latest surge comes at a time when the world’s largest cryptocurrency is observing enhanced recognition from the mainstream industry.
Revolut, a digital banking podium that itself is considered something of a disruptor te the financial sector, this week announced it would permit customers to buy and sell Bitcoin, Ether, and Litecoin on its mobile app. If its application for a European banking licence is successful, this will make it the very first UK handelsbank to suggest the same services normally associated with online exchanges.
The unexpected spike ter value can also be waterput down to the oncoming launch of the very first Bitcoin futures contracts by US financial firms CME and CBOE. This would effectively mark the thickest shake-up of the Bitcoin market, which has until now relied purely on metselspecie trades at fluctuating prices.
Futures contracts would permit investors to trade for Bitcoins at a immovable market value, hedging against the risk that the cryptocurrency may abruptly speelgoedpop and druppel ter value. While many traditional investors are optimistic about the uitzicht of futures contracts, it’s unclear exactly how it will affect the market.
Instead of the investment wij see right now, where people are speculating a unexpected price increase will yield a quick come back, it’s possible that futures contracts will cause the market to lodge. It’s likely that many miners will turn to selling futures contracts at a set price to ensure they get a ensured come back on their investment, and that owners will do the same if the price starts to fluctuate. If that happens, wij may see a druppel te the number of unexpected spikes ter valuation.
It’s all speculation at this point, but wij’ll know for sure on Ten December when the very first contracts embark to emerge.
04/12/2018: The Bitcoin goldrush may be about to end, spil the UK Treasury and other EU authorities consider regulations designed to make cryptocurrencies less useful for criminal activities, it is widely reported.
Along with other EU regulators, the Treasury is programma to waterput an end to the anonymous trading prototype which has made Bitcoin and other cryptocurrencies an attractive payment method for black market traders and cybercriminals.
“Wij are working to address concerns about the use of cryptocurrencies,” a Treasury spokesperson said, “by negotiating to bring virtual currency exchange platforms and some wallet providers within Anti-Money Laundering and Counter-Terrorist Financing regulation.”
The proposals would force online Bitcoin exchanges to conduct due diligence investigations into their customers, and report any suspicious transactions to law enforcement. The fresh rules, which are set to match regulations coming into force across the EU, will likely come into force early next year, according to reports.
Because Bitcoin and other cryptocurrencies can be bought, sold and traded anonymously, they have long bot popular on dark web marketplaces spil a way for users to untraceably pay for illegal goods like drugs, guns and stolen private information.
Bitcoin has also found popularity among cyber criminals and is the most common payment method for victims of ransomware attacks like the WannaCry attack te May. Ter fact, the invention of Bitcoin has bot blamed by security experts for the surge of ransomware outbreaks overheen the last several years.
Ter addition to privacy fanatics and criminals, Bitcoin has also embarked to become exceptionally popular with investors, who are now beginning to view it spil a commodity-style financial asset. Growing rente from hedge funds and other investors has seen the value of bitcoin skyrocket this year, growing by more than 1,000% te 2018 alone. The value of one bitcoin kasstuk $11,566 earlier today, but has since fallen to $11,313 at the time of writing.
Labour MP John Mann, a member of the House of Commons Treasury select committee, told the Telegraph that the UK voorwaarde look into the proliferation of cryptocurrency exchanges, telling: “Thesis fresh forms of exchange are expanding rapidly and wij’ve got to make sure wij don’t get left behind – that’s particularly significant ter terms of money laundering, terrorism or zuivere theft.
“It would be timely to have a decent look at what this means. It may be that wij want speed up our use of thesis kinds of thing te this country, but that makes it all the more significant that wij don’t have a regulatory lagen.”
29/11/2018: Bitcoin is now worth $Ten,000
Following a meteoric rise overheen the past year, Bitcoin has ultimately smashed past the $Ten,000 mark for the very first time te its history.
The world’s largest cryptocurrency by market capitalisation has risen tenfold since the embark of the year when it wasgoed operating at around $950, taking its total market worth to just under $170 billion. At the time of writing, one Bitcoin is presently trading at $Ten,667.
The news also means that Bitcoin is now up 900% since it very first launched, and has enhanced by 230% since its most latest slump ter September following the scrapping of Segwit2x upgrade proposals.
One of Bitcoin’s earliest transactions ter 2009 involved the purchase of two Pizzas worth around Ten,000 Bitcoins. Today, that transaction would be worth $100 million.
Fundamentally, Bitcoin has switched little since the embark of the year, and its unprecedented rise is largely due to enhanced public exposure, greater certainty among traditional financial institutions, and a surge te the number of short-term investors attempting to make a quick come back.
Albeit the currency is praised for being decentralised, the lack of official backing from government and the financial sector has made investors skittish, showcasing that its success is still tied to traditional organisations. Spil wij witnessed te the very first half of 2018, enhancing government pressure on markets te China, which eventually spotted a finish verbod on initial coin offerings (ICOs), not only resulted te slumps ter the price of Bitcoin, but a significant druppel te the amount that wasgoed traded each day.
Both Bitcoin and Ether, the second-largest cryptocurrency by market cap, have since benefited from the rise of ICOs overheen the past year, spil the majority of thesis crowdfunding projects require investors to pay ter one of thesis two currencies.
“$10k represents the closing of the 2nd cycle ter Bitcoin which has drawn the rente of institutional investors who have so far bot constrained from trading by their remits,” said Charles Hayter, CEO of CryptoCompare. This is beginning to switch spil more sophisticated and regulated instruments are made available.”
Yet, the largest boost has come from markets ter Japan, which legalised Bitcoin spil a payment option ter April. Since then, overheen 260,000 merchants ter Japan have began using the cryptocurrency, according to Coincheck.
The passing of the $Ten,000 mark represents a significant milestone for cryptocurrencies, which are considered to be one of the most drastic deviations from traditional currencies the world has seen. Given that Bitcoin resumes to traverse uncharted territory, the future of all cryptocurrencies are tied to its success, and many investors will be looking to see if this unexpected rise finishes ter a catastrophic dive.
28/11/2018: Bitcoin valuation hits record high – again
Bitcoin has smashed through another record milestone, after the value of the cryptocurrency sailed past $9,800.
Bitcoin slok up ter value overheen the weekend, going from around $8,000 on Friday to overheen $9,500 by 5AM UTC on Monday. The digital currency’s valuation has sailed overheen the course of this year, rocketing up by around 900% from just $1,000 at the embark of 2018.
The rise has bot fuelled by enlargening engagement with bitcoin from hedge funds, investment firms and financial institutions, which have commenced to speculate on the bitcoin market. Earlier this month, the Chicago Mercantile Exchange – the world’s fattest futures exchange – announced that it would start suggesting bitcoin futures at some point this year.
Bitcoin’s colossal value now represents a fatter market cap than Gij, Disney and IBM, and one Bitcoin is now worth seven times spil much spil an ounce of gold.
However, experts and analysts are warning that the Bitcoin boom may represent a yam-sized bubble, with the risk of a similar crash to the dot-com bubble ter the early 2000’s. According to Bloomberg, Bitcoin is now four times more valuable than dot-com stocks were at the height of the boom, and a collapse is certain to occur at some point.
While bitcoin remains popular, it is the technology that underpins it that has perhaps attracted the most attention from tech companies. The blockchain technology that supports bitcoin – also referred to spil a distributed ledger – has bot used by companies including Vruchtensap, IBM and HPE to manage payments, supply chains, contracts and more.