Bitcoin News

Investing in Bitcoin requires a long-term focus

Bitcoin Investment Is All About the Long Game

Many pundits have pounced on the fact that Bitcoin recently dropped to $4,000 as a sign that the cryptocurrency revolution has run out of steam. But that ignores the clear fact that Bitcoin investing, just like any sort of investing, is all about the long game. Sure, if you focus on short-term price moves you can get discouraged about any sort of investment. But ten years ago Bitcoin wasn’t even worth a penny, and now it is worth thousands [...]

Ohio to accept Bitcoin for tax payments

Will Ohio Become the First State to Accept Bitcoin Tax Payments?

The one major step that would both herald the arrival of cryptocurrency as a viable currency and hasten its adoption by the mainstream is its acceptance for tax payments. Just as the paper dollar was only finally accepted by merchants and individuals once it became a means of payment for taxes and duties, so too will cryptocurrencies only hit the mainstream once they are accepted as payment for taxation. And that’s why recent news out of Ohio has many [...]

Do regulators care about cryptocurrency fraud?

Is Cryptocurrency Regulation Still in the Era of the Wild West?

One of the concerns that many investors have when it comes to cryptocurrencies, as with any investment, is the fear of losing money. But cryptocurrency investors aren’t just afraid of their assets losing value, they’re also afraid of losing their money to frauds, schemes, and hacking. With many cryptocurrency exchanges having been subject to hacks, and reports nearly every day about some sort of new scheme to separate cryptocurrency investors from their money and cryptocurrencies, many people continue to [...]

Ron Paul followers choose Bitcoin

Half of People Voting in Ron Paul Twitter Poll Choose Bitcoin

CoinIRA Ambassador and former Congressman Ron Paul recently posted a Twitter poll asking his followers the following question: A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift. But there’s a catch: You must keep the gift in the form that you choose for 10 years without touching it. In which form would you accept the gift? The four choices were Federal Reserve Notes, gold, Bitcoin, or 10-year US Treasury bonds. Out of nearly [...]

Venezuela wants the petro to be used in international oil sales

Venezuela Hopes to Make the Petro the Digital Currency for Oil Markets

With Venezuela’s oil-backed cryptocurrency the petro being lambasted by cryptocurrency enthusiasts and governments alike, its future isn’t looking all that great. But that hasn’t deterred Venezuelan officials from continuing to push the new currency. In fact, Venezuela’s oil minister recently announced that he intends to pitch the petro to OPEC as a digital currency to be used worldwide in oil transactions. In that sense Venezuela has the put the dollar firmly in its sights. For decades the dollar has been [...]

SEC to issue ICO guidance soon

“Plain English” ICO Guidance Forthcoming From SEC

The disruptive nature of cryptocurrencies caught governments and regulatory agencies largely flatfooted. They didn’t know how to respond to Bitcoin, Litecoin, Ethereum, and other cryptocurrencies. Nor did they know how to react to the development of initial coin offerings (ICOs). In fact, just about the only thing that they have acted upon for certain is approving the trading of Bitcoin futures and declaring that gains made on cryptocurrency sales and cryptocurrency trading are subject to taxation. Aside from that [...]

BTM operator finally gets BitLicense

New York Approves First Bitcoin ATM Operator… Three Years Later

Bitcoin ATM machine operator Coinsource has finally had its BitLicense application approved by the New York State Department of Financial Services. The application, which had first been made in 2015, makes Coinsource just the 12th company to receive approval from the New York government to operate in the state. The company already has 40 Bitcoin ATMs operating in the state, having been allowed to operate under a temporary license while the BitLicense application was pending approval. Coinsource’s Bitcoin ATMs in [...]

Are institutions exerting too much influence over Bitcoin?

Institutional Influence on Bitcoin Continues to Grow: How Will That Affect You?

Bitcoin was developed in part to help people overcome the monopoly over currency issuance enjoyed today by central banks. By allowing individuals to “mine” their own currency, use it as a means of exchange, and act as their own bank, Bitcoin offered freedom and versatility unmatched by any other currency. But as Bitcoin became more and more popular, its user base expanded from a handful of hardcore enthusiasts to tens of millions of people worldwide, and now even to [...]

Royal Mint drops plans to issue gold-backed cryptocurrency token

UK’s Gold-Backed Cryptocurrency Won’t Be Going Forward… For Now

The UK’s Royal Mint first announced in 2016 its plans to issue as much a billion dollars worth of a gold-backed cryptocurrency token. The project was an attempt to allow investors an easier way to invest in gold. Had it been successful, the gold-backed cryptocurrency could have served not just as an archetype for gold trading but also for the use of gold-backed cryptocurrency as a means of exchange. Due to changing circumstances, however, the project has been shelved [...]

Will Venezuelans accept the petro?

How to Incentivize Cryptocurrency Adoption: Government Force?

Recent reports have indicated that the Venezuelan government will soon be forcing its citizens to use the country’s new oil-backed cryptocurrency, the petro, in order to purchase passports. The passports are expected to cost two petros, an amount equivalent to 7,200 bolivars. That’s equal to four times the minimum monthly wage in Venezuela, making it highly unlikely that many people will be lining up to purchase new passports, no matter how badly they want to leave the hyperinflationary cesspool [...]