Bitcoin News

What’s the Best-Performing Asset of 2019? Bitcoin

The Bitcoin ecosystem contains a funny mix of bulls and bears. For every person who thinks that Bitcoin will hit $100,000 by the end of the year you probably have two or three who think that it will sink below $1,000. Yet despite the bearishness of many on Wall Street who think that Bitcoin is much ado about nothing, Bitcoin continues to make progress both as a payment system and as an investment asset. Everyone remembers the Bitcoin “bubble” of [...]

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Ohio Suspends Bitcoin Tax Payments

A surefire way to ensure the continued adoption of Bitcoin and cryptocurrencies as methods of payment is for governments to accept them as payment for taxes. While many governments have been averse to accepting Bitcoin as a method of payment, some governments have attempted to break new ground by accepting Bitcoin. Among them is the state of Ohio, probably the best known adopter of Bitcoin. Its state treasury has accepted Bitcoin as a payment for taxation, with online retailer [...]

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Libra Forcing Central Banks to Move on Digital Currencies, But Will Consumers Adopt Them?

By now we all know that the Chinese government has been hard at work trying to create its own digital currency. And the creation of Facebook’s Libra cryptocurrency has given the Chinese a greater urgency to complete their project. But it isn’t just the Chinese who are feeling the pressure. Central bankers and regulators around the world are questioning Facebook, but that questioning has as much to do with their desire to get their own projects off the ground [...]

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Is Cryptocurrency Privacy a Thing of the Past?

One of the the reasons so many people decided to use and invest in Bitcoin was the private nature of the cryptocurrency. With Bitcoin addresses consisting of a series of numbers and letters, people could transfer money to and fro without anyone knowing who was on the other end of a transaction. Governments hate having that happen, however, and have begun to enforce existing know your customer (KYC) and anti-money laundering (AML) laws to the cryptocurrency sphere. Will that [...]

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Facebook’s Libra Fully in China’s Crosshairs While Bitcoin Ignored

The People’s Bank of China is apparently plowing full steam ahead in developing its own digital currency and it sees Libra, not Bitcoin, as its primary competition. That’s indicative of the buzz that Libra has among government officials who are involved in the cryptocurrency arena. But just because Libra is the target doesn’t mean that Bitcoin has gone by the wayside. Chinese officials trying to hype their upcoming digital currency are talking up the advantages of the digital yuan versus [...]

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Petro: The Cryptocurrency That Just Won’t Die

If you’ve been wondering what happened to Venezuela’s petro cryptocurrency, you’re probably one of the only ones. The cryptocurrency, much hyped by Venezuelan President Nicolas Maduro, was slated for disaster almost from the beginning. Supposedly backed by oil reserves, Maduro had to force the cryptocurrency onto Venezuelan government employees in order to get it to achieve circulation. And now nearly two years after its introduction it still isn’t on anyone’s radar screen. That hasn’t kept Maduro from pushing the petro. [...]

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What Effect Would Negative Interest Rates Have on Bitcoin and Cryptocurrency?

The United States is nearly alone among major world central banks in not moving towards negative interest rates. That zero lower bound remains a lower bound. But in the event of another financial crisis, might the Fed decide to push rates below zero, just like the European Central Bank and the Bank of Japan have done? And if so, what effect would that have on Bitcoin and cryptocurrency? One type of cryptocurrency with rising popularity are stablecoins. These coins are [...]

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Just How Secure Are Cryptocurrency Transactions?

One of the highlights of Bitcoin when it was first introduced was the relative anonymity with which Bitcoin users could buy, sell, and trade Bitcoin. While all transactions are recorded on the blockchain, they merely record which addresses sent Bitcoin where, with no one being able to tie a single address to an individual person. And with the ability to create multiple addresses to hold Bitcoin, users could effectively anonymize their transactions. The ability to continue doing that has been [...]

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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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