Banking and Finance

Bitcoin Hits $3800, Predicted to be Bullish

Bitcoin Hits $3800, Predicted to be Bullish

Yesterday, Bitcoin briefly touched a little over $3800 from $3709, a high that was seen as a bullish trend by the Bitcoin community. The trend is seen to be a sign of stability and potential for the cryptocurrency. Experts say that the rise over $3700 may be indicative of another uptrend and is likely caused by market confidence after the SegWit controversy. Community experts recommended buying on dips, but recently there had been very opportunities to do so.    Bitcoin pundit and Civic CEO Vinny Lingham predicted the price peak in a tweet last August 5.         Source: Coin […]

Senators Urge Reserve Bank of Australia to Make Bitcoin an Official Currency  

Senators Urge Reserve Bank of Australia to Make Bitcoin an Official Currency  

The Reserve Bank of Australia (RBA) is being persuaded by senators Jane Hume and Sam Dastyari to recognize Bitcoin as a legitimate currency. The two senators argue that making Bitcoin an official currency will positively transform Australian financial firms and the Reserve Bank. They claim not doing so will risk Australia’s financial competitiveness, which can leave them far behind. Sources also said $145 billion worth of annual financial service earnings is at stake if Australia does not make the decision. Dastyari has shown strong support for Bitcoin for years, even proposing to legalize it since 2015. Even then, he said […]

Cryptocurrency Market Reaches Record High of $121 Billion, Bitcoin Shares Weaken

Cryptocurrency Market Reaches Record High of $121 Billion, Bitcoin Shares Weaken

A new all-time record has been hit by the entire cryptocurrency market, exceeding its $120 billion mark. Breaching the $120 billion limit happened within just two months, after the notable $100 billion crypto-cap was exceeded in June. Prior to the the crypto market’s increase, it experienced drops in July from $63 billion. It quickly recovered the $100 billion mark once again in August 1, during the Bitcoin Cash blockchain fork. According to sources, the combined market value of every listed digital currency is now $121.1 billion. Analysts have also tracked cryptocurrency exchanges of up to $4.3 billion within 24 hours […]

Bitcoin Price Surges Over the $3,000 Record High, Hodlers Enjoy Gains

Bitcoin Price Surges Over the $3,000 Record High, Hodlers Enjoy Gains

Bitcoin just traded at $3,104 during press time last Saturday, which is the highest BTC price of all time. Many reluctant BTC hodlers were finally able to enjoy their gains despite the uncertainty that came in the last month. When the Bitcoin Cash (BCH) fork was announced last month, many analysts changed their minds about the BTC’s strength. But others remained calm, encouraging investors to trust in the foundations of BTC while assuring them there is no real risk of loss. The BTC trade update proved them right, leading to significant gains. As for other cryptocurrencies, Ethereum (ETH) and Litecoin […]

Slow Start for Bitcoin Cash After August 1 Blockchain Split

Slow Start for Bitcoin Cash After August 1 Blockchain Split

Reports last Wednesday revealed that it took almost 6 hours to mine the first batch of Bitcoin Cash following the recent forking to create the blockchain split. This spells a notably slow start for the new cryptocurrency, which is said to have very few miners contributing to its mining operation.   According to the managing director of trading site eToro, the Bitcoin Cash’s sluggish progress is likely due to the low number of miners supporting the new currency. However, Bitcoin Cash blockchain co-founder Jeff Garzik assured traders that less computing power will eventually be needed to mine new blocks, which […]

Bitcoin Traders Experience Withdrawal Delays Following Foundation of Bitcoin Cash

Bitcoin Traders Experience Withdrawal Delays Following Foundation of Bitcoin Cash

In a report last Monday, traders who opted to transfer their Bitcoin from Coinbase to a user-activated hard fork (UAHF) for Bitcoin Cash are now having trouble waiting for more than 12 hours of delayed withdrawals. In the past few months, the Bitcoin network had been having an increasing number of service disruptions, including inconvenient blackouts. The congested network goes offline during peak trading hours with ill-functioning gateways. The down times and withdrawal delays are attributed to the Bitcoin Cash blockchain fork that will be launched today, August 1. Bitcoin Cash is said to credit traders with BHSC accounts. The […]

Snap Inc’s Share Deficit Reduces By the End of Lockup

Snap Inc’s Share Deficit Reduces By the End of Lockup

New York — Last Monday, a report said that Snap Inc (SNAP.N) has recovered some of its share losses in a recent trade. This occurred following a major share value slide as initial investors were able to sell after the lockup expired. Since the shares were valued at a total of $3.4 billion IPO, employees and initial investors can now sell Snap’s shares again on Monday July 31 until August 2017. According to Morningstar analyst Ali Mogharabi, some retail traders took advantage of the share’s low price, resulting in sufficient sales in recent months. Drexel Hamilton analyst Brian White suggested […]

Largest Cloud Bitcoin Mining Firm Genesis Mining Has Been Hacked

Largest Cloud Bitcoin Mining Firm Genesis Mining Has Been Hacked

According to a report last Saturday, bitcoin mining giant Genesis Mining said that their system was hacked on July 21, with funds stolen from the firm’s hot wallet. The incident prompted their systems to temporarily close down until the issue was resolved. Despite the alarm, Genesis said the transferred funds did not pose grave losses for its clients. They assured customers that their mining operations are unaffected by the incident. Though there will be some delay, the company will reimburse payouts for all its users. The bitcoin mining firm has also taken the necessary measures to strengthen its security system […]

U.S. Government Agencies Increases Blockchain Tech Support and Application

U.S. Government Agencies Increases Blockchain Tech Support and Application

Last Saturday, U.S. federal departments like the Department of Homeland Security (DHS) were reported to have began providing financial support for blockchain development companies, Bitcoin mining groups, and base system providers.   Sources say the DHS has been offering innovation grants for small companies such as BlockCypher. The grant is intended to boost research for uses of blockchain technology in the development of fixed ledgers for data storage, record maintenance, and identity protection. Another U.S. federal agency, the General Services Administration (GSA), is probing blockchain smart contracts capability for its potential to automate various types of clerical labor involving approvals. […]

Stanford PhD Cryptography Academic Provides Cryptocurrency Lecture for Free

Stanford PhD Cryptography Academic Provides Cryptocurrency Lecture for Free

Last Sunday, news reported that a free cryptocurrency lecture was launched recently by Dr. Dan Boneh, an esteemed Stanford faculty member who specializes in cryptography. The free module that comes with a full class curriculum can be download online, with case studies focusing on Bitcoin and Ethereum tokens. According to the lecture overview, it covers smart contracts and employment, Blockchains, and dispensed consensus. Dr. Boneh is one of the primary authors that helped create the Weil Pairing cryptography together with Matt Franklin from the University of California. He completed a computer science degree in 1996 from Princeton before becoming professor […]

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