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Showing posts from May, 2017

Bitcoin Market Cap Passes Deutsche Bank’s Amid Loss Reversal

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2017-05-26 01:25 PM William Suberg Bitcoin Market Cap Passes Deutsche Bank’s Amid Loss Reversal Bitcoin’s market cap is now $2 bln higher than that of Deutsche Bank, as an upwards price correction takes it over $40 bln once more. Data  uploaded to Reddit shows Deutsche Bank’s market cap at €35 bln ($39 bln) and trending downwards, while Bitcoin has mostly recovered from yesterday’s losses, CoinMarketCap  shows . In another more unusual reversal, Bitcoin’s market cap dominance has also  begun climbing  after hitting a low of 45 percent earlier this week. The figure currently stands at 48 percent, still short of a majority thanks to continued presence from Ethereum, which currently controls 20.5 percent. Deutsche Bank continues to face pressures to account for its possible role in funneling funds out of Russia which could be linked to $300 mln in loans given to Donald Trump before he became US president. Meanwhile, media attention is also refocusing on Bitcoin once again in a m

Bitcoin Demand Explodes in India, Overwhelmed Exchanges Put Limits on Purchases

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2017-05-26 10:25 AM Jacob J Bitcoin Demand Explodes in India, Overwhelmed Exchanges Put Limits on Purchases The demand for Bitcoins has increased across the world, leading to a surge in its price to all-time highs. In India, with  thousands of new users  flocking to Bitcoin every day, exchanges have been overwhelmed leading to downtime and slow processing of transactions. The unprecedented demand for Bitcoins has come in the background of the government requesting  feedback  about virtual currencies from users. Exploding demand, high premium " Zebpay , one of India’s Bitcoin exchanges, has over 500,000 downloads of its mobile app and is adding about 2,500 new users every day." The scarcity of Bitcoins in India has resulted in Bitcoin being traded at a significant premium. The  Bitcoin price in India  touched INR 225,000 (~$3,500) before declining slightly. International users cannot arbitrage the demand for Bitcoins in India due to capital controls and foreign exch

Bitcoin Price Hits $2,850 in South Korea, Extreme Premium

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2017-05-23 06:32 PM Joseph Young Bitcoin Price Hits $2,850 in South Korea, Extreme Premium Bitcoin price  reached $2,850 in South Korea on May 23, due to the rapidly rising demand for Bitcoin and other digital currencies such as Ethereum’s Ether (ETH). While arbitrage opportunities in South Korea always existed since the launch of Korbit, Coinone and Coinhumb, the three  leading Bitcoin exchanges  in the country, the premium rate rarely went past 10 percent. On May 23, the premium rate on South Korean Bitcoin exchanges nearly reached 30 percent, demonstrating a trading value of $2,850 for Bitcoin, while Bitcoin was being traded in the US and China for around $2,100. The driving factor of this massive arbitrage opportunity and premium rate in South Korea is the country’s strict anti-money laundering policies. In South Korea, any type of gambling is illegal and because a large amount of black money consisted of revenues from overseas casinos and other businesses are sent back to

Japanese Budget Airlines Will Accept Bitcoin In 2017, Install BTMs At Airports

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2017-05-23 12:25 PM William Suberg Japanese Budget Airlines Will Accept Bitcoin In 2017, Install BTMs At Airports Peach  will become Japan’s first airline to accept Bitcoin as the country’s regulatory changes start paying off. In comments, Monday, Peach, which operates budget domestic flights as well as those to Korea, China and Thailand, confirmed Bitcoin would become a payment option by the end of 2017. “Now you can travel without your wallet,” CEO Shinichi Inoue  said  at a press conference. “I think this is innovation; we’ll put all our energy into it.” Peach also plans to install Bitcoin ATMs at airports and hopes the retail sector will get on board in offering payments as well. “This is a real first step in partnerships for Japan and we are aiming for more company and service tie-ups,” Bloomberg  quotes  Inoue. “We want to encourage visitors from overseas and the revitalization of Japan’s regions.” Japan has seen a major focus on Bitcoin following changes in legislation

Bitcoin Growth Follows Gandhi’s Famous Quote

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2017-05-23 10:57 AM Iyke Aru Bitcoin Growth Follows Gandhi’s Famous Quote The famous Gandhi quote "First they ignore you, then they laugh at you, then they fight you, then you win" is becoming true for Bitcoin as the weeks go by. There has been a very obvious  increase in overall value for Bitcoin  and major alternative currencies. Just two months ago, the Bitcoin market capitalization was about $16 bln, at the time of writing, the market cap has risen to over $35 bln. This steady growth and the rise in  Bitcoin price , especially as is observed since the beginning of the year has raised a storm of curiosity among the Internet. Altcoins are driven by speculation With regards to altcoins and ICO’s, CEO BnkToTheFuture.com,  Simon Dixon  believes that  we are in a bubble , so all the demand is speculation driven by traders trying to gain more Bitcoin. Dixon says: “I expect a major correction when their value returns to their actual utility. Bitcoin, however, is fulfilli

This Might Be The Key Reason Behind Bitcoin, Altcoin Price Surge

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2017-05-22 06:30 PM Iyke Aru This Might Be The Key Reason Behind Bitcoin, Altcoin Price Surge The first two-quarters of the year 2017 have seen the crypto industry experience a massive growth in awareness and adoption. From a perspective of economics, the high demand for Blockchain products, whether for preliminary investigations or systematic adoption has automatically generated an influx of capital which consequently reflects the value of the tokens of these Blockchains. The growing Blockchain partnerships offers an explanation for the significant increase in market capitalization of various cryptocurrencies and the consequent  surge in Bitcoin price  and several top altcoins. Partnership is key to adoption One of the major ways being observed for the enhancement and adoption of the Blockchain technology is through partnerships with existing conventional companies. Recently,  Ripple experienced a significant surge  in value and market capitalization. This is perceived to be

Bitcoin Enters Top 5 Google Searches, Ethereum At 18

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2017-05-23 10:10 AM William Suberg Bitcoin Enters Top 5 Google Searches, Ethereum At 18 Bitcoin has made the top 5 Google search requests Monday, according to  data  from Google Trends. The results from the US indicate that ‘Bitcoin’ received over 200,000 searches, making it the fifth most popular term. Ethereum made the top 20 results, coming in at number 18. The event marks continued mainstream exposure for the cryptocurrency. While Bitcoin came to prominence during the recent  WannaCry cyberattack , interest appears to have remained as that story disappears from the headlines. Monday is ‘sacred’ in Bitcoin circles for a different reason, May 22 being  Bitcoin Pizza Day . A chapter in the virtual currency’s history which is also gaining mainstream notoriety, a flurry of media interest generally accompanies the date every year. CNBC  notes  for example that $100 of Bitcoin purchased in 2010 would be worth around $75 mln today. The Bitcoin pizzas themselves also cost more thi

European Retail Giant Alza Accepts Bitcoin For Payments, Could Add Altcoins

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2017-05-18 02:50 PM William Suberg European Retail Giant Alza Accepts Bitcoin For Payments, Could Add Altcoins Major European retailer  Alza  has begun accepting Bitcoin and installing Bitcoin ATMs in its outlets in Prague and Bratislava. According to Czech news outlet  Lupa , Alza is facilitating Bitcoin payments online throughout its international empire, which also includes Austria, Germany and the UK. The publication further quotes a spokesman who stated the move is due to interest from both international and domestic customers. “Prague is already one of Bitcoin's most important centers in Europe today. By introducing trading in bitcoins, we are supporting the growing popularity of this form of payment and the potential of new technology,” Jan Sadílek, Alza’s head of internet marketing, continued. The implementation occurred with the help of merchant payment gateway  BitcoinPay . Sadílek, meanwhile, added that Bitcoin was only the first step in Alza’s relationship with

As Bitcoin’s Value Rises Real Estate for BTC Sales Follows the Trend

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CLOSE WALLETS GET BITCOIN SPEND BITCOIN CONFERENCE GAMES FORUM MORE Home    Emerging Markets   As Bitcoin’s Value Rises Real Estate for BTC Sales Follows the Trend EMERGING MARKETS NEWS As Bitcoin’s Value Rises Real Estate for BTC Sales Follows the Trend By  Jamie Redman  -   May 17, 2017   3896 1 Facebook   Twitter     As bitcoin rises in value people selling luxury goods and real estate for BTC is happening more often these days. This year there’s been a lot more homes for sale from individuals posting ads on public websites like Craigslist and bitcoin-based businesses that are specifically tailored to selling real estate.    Also Read:  Homeland Security’s U.S. Citizenship and Immigration Considers Bitcoin Individual From Hong Kong Advertises a Brand New Vancouver Villa for 2099 BTC Just recently a person selling a brand new home in Vancouver announced that he was selling the US$3.5 million dollar house for 2099 bitcoins. The Hong Kong  Craigslist post  offers

Norway’s Largest Online Bank Integrates Bitcoin Accounts

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CLOSE WALLETS GET BITCOIN SPEND BITCOIN CONFERENCE GAMES FORUM MORE Home    Finance   Norway’s Largest Online Bank Integrates Bitcoin Accounts FINANCE NEWS TECHNOLOGY Norway’s Largest Online Bank Integrates Bitcoin Accounts By  Jamie Redman  -   May 15, 2017   1856 2 Facebook   Twitter     Norway’s largest internet-based bank has added a new feature tethering bitcoin accounts to the company’s web bank platform. Skandiabanken customers are now able to access Coinbase accounts giving members insight into their digital investments alongside their savings and checking accounts. Also read:   Crypto Tales Pt. 1: Odd Stories That Surface in Bitcoin-Land Skandiabanken Recognizes Cryptocurrency as an Investment Class Skandiabanken  executives are starting to see bitcoin as an asset class for the 21st century. “We recognize cryptocurrency as an investment class similar to other securities,” Christoffer Hernæs, Skandiabanken’s Head of Innovation and Development  explains  t