Category: Bitcoin news

January 8th, 2018 by VK-edit

Earlier this week, there were over digital currencies with a market cap above $1 billion.

Dogecoin crossed the $2 billion barrier a few days ago, a 70 percent increase compared to last Friday and two weeks after it reached the $1 billion level.

Even Jackson Palmer, the founder of dogecoin who left the team in 2015, is worried about this meteoric increase, especially as they have not released a software update in over 2 years.

A key reason why smaller crypto-currencies are rising so fast is because they are perceived as cheaper coins, compared with bitcoin and ethereum, which are too expensive for many new investors.

Dogecoin was created in 2013. The creators of dogecoin positioned the virtual token as “the internet currency” that can allow users to easily send money online.

You can get dogecoins from several digital currency exchanges or mine them.

 

 

Posted in Bitcoin news, Cryptocurrency market news, Ethereum and Ether news

January 3rd, 2018 by VK-edit

Over the past few days, Ripple has overtaken Ethereum and became the second most valuable digital currency. The market capitalisation of Ripple now exceeds $100bn and each Ripple coin – or XRP – is now worth over $2. It was only worth one tenth of this just a month ago, and less than 0.5 cent a year ago.

However, Bitcoin still remains the most valuable crypto-currency with a total market capitalisation over $230bn, and each bitcoin is currently worth over $13,000.

Unlike other digital currencies, Ripple tokens are controlled by a single company, Ripple, based in San Francisco, which slowly releases new tokens as the network is used.

Ripple presents itself as a safer alternative to other crypto-currencies. It was set up in 2012 to help banks pay each other faster and facilitate global financial transactions.

To date, over 100 banks such as Bank of America, Santander and UBS use the Ripple system. In the past few days, three of Japan’s largest credit card companies announced they had joined Ripple to handle payments and settlement.

 

 

Posted in Bitcoin news, Ethereum and Ether news, Ripple and XRP news

December 5th, 2017 by VK-edit

The IOTA Foundation, the German organisation that oversees the IOTA virtual currency, has announced it is teaming up with Microsoft, Samsung and several other technology firms, to create a blockchain-based marketplace that lets them sell data such as weather and air quality data. This new marketplace is still in pilot phase.

As a result of the announcement, IOTA’s value has increased by 70 percent in a single day. IOTA has now taken over Dash and is now the fifth-largest digital asset by market capitalization.

According to David Sonstebo, IOTA’s co-founder and CEO, “IOTA’s seemingly ‘out of nowhere’ explosive growth can be traced back to the fact that it has been somewhat of a sleeping giant.”

Unlike most blockchain platforms such as Bitcoin, which use encrypted blocks to record transactions, IOTA’s open-sourcedigital ledger is blockless and allows users to make transactions on the network for free. 

David Sonstebo added “At present, up to 99 percent of this precious data gathered is lost to the void. IOTA incentivize sharing of data through its zero fee transactions and by ensuring data integrity for free on the decentralized distributed ledger.”

“IOTA has resolved the three major issues of blockchain: fees, scaling limitations and centralization, and built up real-world partnerships and projects with world-leading companies since 2015. Unlike the overwhelming majority of projects in this space, IOTA has not done any paid promo, so now that there’s a steady stream of these large news stories the major technological advantages become known to the wider audience.” 

He concluded: “I believe this is the reason for the rally, as well as the fact that IOTA just entered China and Korea, which are naturally huge markets, meaning a lot of new people buying.”

 

Posted in Bitcoin news, IOTA news

October 30th, 2017 by VK-edit

Trading 212’s app is currently the most popular trading app in the UK, from trading shares, commodities and now crypto-currencies. According to Trading 212, the contribution of crypto-currencies to its total business is significant.

Trading 212 is surfing the wave of the digital currencies market, which has increased from $10 billion to $170 billion in 2017.

Customers can already trade bitcoin, ether, bitcoin cash, dash, ripple, monero and neo. And before the year end, additional crypto currencies will be added, including ethereum classic, iota, eos, lisk, augur, zcash, qtum, omisego, cardano, ark, steem, stratis and waves. And for those who do not want to buy a full bitcoin, its Bitcoin Mini market quotes a price for 10% of the value of a bitcoin.

A key difference compared with most exchanges is that it uses contract for differences (CFDs). This may reduce the complexity and the risk of owning digital currencies but is banned in the USA.

The Trading 212 app also includes a real-time chat facility, educational tools and regular cryptocurrencies analysis.

A number of forex brokers also offer crypto-currency trading, such as InterTrader, Avatrade.com and Trade.com.

 

Posted in Bitcoin news, Cryptocurrency exchange news, Ethereum and Ether news, IOTA news, Monero news, Ripple and XRP news

October 27th, 2017 by VK-edit

After the creation of Bitcoin Cash (BTC) in August this year, Bitcoin Gold (BTG) is Bitcoin‘s latest hard fork. Bitcoin Gold is the brainchild of LightningAsic.

However, unlike Bitcoin Cash, Bitcoin Gold lacks institutional support and its community is virtually non existing. This may explain why after an initial price of $500, the bitcoin gold price has dropped very sharply to under $140.

In the long term, bitcoin cash may win over bitcoin gold: it is generally believed that subsequent  bitcoin forks have diminishing returns and cannibalize each another. 

Bitcoin Gold aims to make the crypto-currency more decentralized once again, and reduce the control that larger companies have over the network. 

Under twenty exchanges (including Bleutrade, Bitstar, Bitfinex, Coinnest, HitBTC and Yobit)  support BTG/BTC and BTG/USD trading pairs. However, some of the bigger exchanges still haven’t committed because of perceived security risks.

Bitcoin owners will be issued one Bitcoin Gold for one Bitcoin.

 

Posted in Bitcoin news, Cryptocurrency market news

October 11th, 2017 by VK-edit

This summer, the Moscow Exchange was considering including Bitcoin-based derivatives and exchange traded funds to its portfolio. And last month, Russia’s Finance Minister Anton Siluanov said there was “no sense banning” digital currencies, but instead that there was “a need to regulate them.”

However, Russia’s deputy finance minister Alexey Moiseev recently called Bitcoin a pyramid scheme and announced his intention only to allow “qualified investors” rather than “ordinary people” to buy Bitcoin.

Russian government-owned RT has now reported that Vladimir Putin has decided to block crypto-currencies in general, and Bitcoin in particular. Putin believes digital currencies could be used for criminal activities money laundering, tax evasion, fraud scheme and even terrorism financing.

Putin also stated that Bitcoin itself is a pyramid scheme. Russia’s central bank followed suit, calling Bitcoin a pyramid scheme: “We have seen how Bitcoin has transformed a payment unit into an asset, which is bought in order to obtain a high yield in a short period of time. This is the definition of a pyramid.”

The Bank of Russia has now started to block all Bitcoin exchanges in the country.

Surprisingly, and despite the Chinese ICO and exchange ban last month, followed by South Korea’s ICO ban, and now Russia’s Bitcoin ban, Bitcoin’s prices remain strong and close to their highest point.

Posted in Bitcoin news, Cryptocurrency exchange news, Initial Coin Offering ICO news

October 10th, 2017 by VK-edit

eSports platform Unikrn has been awarded a gambling license in Malta, allowing their users to  conduct real-money bets via eSports’ UnikoinGold crypto-token. 

Malta, already a pioneer in internet gambling, wants to be at the forefront of the blockchain technology, both for the public sector and in order to attract blockchain companies to its shores. They now plan to allow for crypto-currencies such as Bitcoin at online casinos.

The Malta license will providing Unikrn customers a safe, legal and regulated platform based on the UnikoinGold token. The Malta licence and rollout of the UnikoinGold token are essential to migrate bets to real money, as well as broadening the number of non-betting related uses that a token owner can derive from holding them. This way, Unikrn will transition away from the strictly free-play token. 

Unikrn already offered real-money betting in Australia and the United Kingdom, where the company already holds gambling licenses. Unikrn also offered free betting on several video games.

This was done until now through its free Unikoin tokens, which will be replaced by UnikoinGold (based on Ethereum standard). UnikoinSilver, another token, will be launched to keep players in non-licensed areas engaged, though these tokens can’t be traded on secondary markets.

Tokens can be earned by playing in a tournament or by watching a match, which means gamers or spectators don’t have to wager in order to earn tokens.

The chief executive of Unikrn, Rahul Sood, stated: “The European expansion means there’s going to be a large and soon-growing marketplace of users, including the real-money transition of already established users, who want to buy, exchange and use our token to bet on our platform.”

eSports has generated a lot of interest in the global gambling industry. eSports are the fastest growing sport in the world, with 2017 annual revenues close to $700 million, which could grow to over $1.5 billion by 2020.

 

 

 

 

Posted in Bitcoin news, Cryptocurrency market news, Ethereum and Ether news

September 13th, 2017 by VK-edit

The Bank of China has indicated it would ban Chinese exchanges from providing virtual-currency trading services, according to The Wall Street Journal.

Both Bitcoin and Ethereum fell this weekend after Chinese regulators said they planned to shut down exchanges that buy and sell Bitcoin in the country. There has been a small rebound in the value of digital currencies since then, but Bitcoin is still 20% over the peak it reached a few weeks ago.

Chinese authorities previously announced plans to limit the use of digital currencies, such as last week’s ban of initial coin offerings

Chinese regulators are concerned with the dramatic increase in value of digital currencies, as more Chinese people began to use crypto-currencies as a way to bypass banks and move money outside of China’s borders. Digital currency is also seen as a way to launder money.

 

Posted in Bitcoin news, Cryptocurrency market news, Ethereum and Ether news, Initial Coin Offering ICO news

September 6th, 2017 by VK-edit

The crypto-currency market has lost 20% in two days as it fell to $142 billion yesterday. A few days ago, its total market cap was $180 billion. The bigger crypto-currencies have also been affected, with Bitcoin down more than 16% and Ethereum over 23%.

Clearly the ban on ICOs from the Chinese government, which ordered all ICOs to return funds to investors, has played a strong role. This is likely to impact smaller crypto-currencies like NEO, a Chinese-based crypto currency, down 50% in a few days.

However, this crash is relative, as Bitcoin for instance is still worth double the price it was four months ago. A correction may have been overdue: Bitcoin recently hit an all-time high of nearly $5,000.

Is this the start of a longer market correction or just a natural cool down from an over-heated market, coupled with a reaction to the announcement from China? Crypto-currency prices are already showing signs of a rebound.

Posted in Bitcoin news, Cryptocurrency market news, Ethereum and Ether news, Initial Coin Offering ICO news

September 5th, 2017 by VK-edit

The People’s Bank of China has banned all sales and currency conversions involving digital tokens, and prohibited all financial institutions and non-bank payment organisations from offering any services to initial coin offerings (ICOs) which they say are now illegal.

In a statement, the People’s Bank of China said that ICOs are a form of unauthorised and illegal public financing, and that ICOS have seriously disrupted economic and financial order. “The tokens or “virtual currency” used in coinage financing are not issued by the monetary authorities, do not have legal and monetary properties such as indemnity and coercion, do not have legal status equivalent to money, and can not and should not be circulated as a currency.”

They also added that “Financial institutions and non-bank payment institutions shall not carry out business related to tokens financing transactions.”

As a result, Bitcoin was down by 11 percent, while ethereum dropped more than 16 percent.

 

Posted in Bitcoin news, Cryptocurrency market news, Ethereum and Ether news, Initial Coin Offering ICO news