Bitcoin News

China Going Full Steam Ahead With Cryptocurrency Plans

According to Chinese sources, the People’s Bank of China is pulling out all the stops in an effort to develop its own digital currency. In the aftermath of a crackdown on cryptocurrency trading and cryptocurrency mining, many analysts thought that the country was intent on controlling the digital currency space within its borders, although it was unclear whether the country was intent on banning cryptocurrency or merely putting a stop to private cryptocurrency until it could develop its own. [...]

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Attempted Coinbase Hack Highlights Importance of Crypto-Security

Coinbase is perhaps one of the best-known cryptocurrency exchanges to most Americans. But the company was just recently the target of a very sophisticated and long-developing hack attempt. Using various methods to develop an attack, hackers sought to penetrate Coinbase and ultimately make off with significant amounts of cryptocurrency. Thankfully the hack was detected and warded off, but the danger still highlights the threats that exist. The hack began with malicious actors managing to penetrate the email servers of Cambridge [...]

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When It Comes to Investing in Cryptocurrency, Stick to What’s Tried and True: Bitcoin

Ever since Bitcoin’s meteoric rise to prominence in 2017, the cryptocurrency world has been full of imitators attempting to mirror Bitcoin’s performance. But Bitcoin has done as well as it has precisely because it was unique, disruptive, and filled a niche that was underserved. Other cryptocurrency imitators don’t bring anything new to the table, in many cases featuring just a bunch of hot air and empty promises. Aside from a handful of Bitcoin competitors such as Ethereum and Litecoin, the [...]

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What Happens If Libra Never Launches?

Facebook’s Libra cryptocurrency project has probably been the most hyped and most talked-about cryptocurrency project this year. From those touting Libra as the greatest thing since sliced bread to those condemning Libra as a threat to the world financial system, it’s not difficult to find an opinion that someone holds on the controversial cryptocurrency. But what would happen if, after all this hot air is expended on Libra, the project never sees the light of day? That isn’t as far-fetched [...]

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Is lending your cryptocurrency a good idea?

Is There a Danger in Cryptocurrency Lending?

While Bitcoin and cryptocurrencies have made great strides in recent years in becoming more mainstream, there’s still a lot of work to be done in order to make cryptocurrency something that’s completely normalized. And with growth in the cryptocurrency industry stabilizing, cryptocurrency firms are doing everything they can to bring in new business. One of the world’s largest cryptocurrency exchanges, Binance, is doing just that by offering interest on customers’ cryptocurrency deposits. Those customers who deposit Ethereum, stablecoin USDT, or [...]

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Is Bitcoin Really Digital Gold? Recent Price Moves Suggest It Is

Many cryptocurrency enthusiasts and analysts have suggested that Bitcoin is digital gold. That’s a pretty heady comparison, but does it really pan out? After all, gold has a track record dating back thousands of years, while Bitcoin has only been around for a decade. But recent price movements suggest that, yes, Bitcoin may be considered, like gold, a safe haven asset that investors flock to when financial times get turbulent. And that makes the outlook for Bitcoin’s future price [...]

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Corporate Cryptocurrencies: First Facebook, Now… Walmart?

The launch of Facebook’s Libra cryptocurrency project has really shaken up the world of finance. Techies have gone gaga over Libra and the potential instant global reach of the new cryptocurrency, backed by Facebook and its billions of users worldwide. And while governments have taken a critical and skeptical stance towards Libra, Facebook isn’t the only company looking to develop its own cryptocurrency. Walmart recently filed for a patent to create its own blockchain-backed cryptocurrency. Will we see a [...]

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Is the IRS coming after cryptocurrency users?

Is the IRS Tightening the Noose Around Cryptocurrency Users?

Recent reports have indicated that a number of cryptocurrency holders have received letters from the IRS informing them that they may owe taxes on their cryptocurrency holdings. According to copies of the letter, the IRS is telling people that the agency has: “…information that you have or had one or more accounts containing virtual currency but may not have properly reported your transactions involving virtual currency, which include cryptocurrency and non-crypto virtual currencies.” While many recipients were scared that the IRS [...]

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Will Libra Spur Countries to Develop Their Own National Cryptocurrencies?

Bitcoin has been around for about a decade now, and its influence on world financial markets cannot be understated. While acceptance of Bitcoin still isn’t as widespread as many Bitcoin adherents would like, it’s nonetheless an accepted asset, currency, and store of value whose utility is widely recognized. Bitcoin’s price and performance is assessed every day just like that of gold, oil, foreign currencies, and stock market indices. That’s no small accomplishment for a cryptocurrency whose origins are still [...]

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Fight Over Encryption Backdoors Highlights the Importance of Bitcoin

Attorney General William Barr made headlines recently for his insistence that consumers come to grips with the government’s need for backdoors in encrypted products and services. To Barr, the existence of encryption that cannot be cracked by government investigators is an obstacle to criminal investigation. But there’s a reason such products are offered to consumers, due to previous government overstepping of its constitutional strictures. And those government oversteps are part of the reason that Bitcoin became such a popular [...]

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