BTC/USD Latest Updates
Bitcoin, perhaps the most famous cryptocurrency to date, has enjoyed more than a doubling in price this year, even after last week’s reversal that wiped off nearly $4billion of the currency’s value.
The question of the bitcoin’s origin may never be solved but it continues to be the most popular crypto-currency, preferred by millions over all other virtual currencies available around the world.
Looks like the bitcoin is making headlines again. The crypto-currency zoomed up Wednesday to its highest levels since early November but the reasons for the zip up remain as mysterious as the currency itself.
The Bitcoin is one of several crypto currencies being used throughout the world. Its popularity has been questioned since its introduction just 18 months ago and its price has zoomed up as high as $1000 and fallen as low as $250. Has it now become another safe haven currency to be used during financial upheavals across the globe?
In January 2014, New York became the first state in the U.S. to propose a regulatory framework for the Bitcoin that would follow similar regulations already applied to all financial firms in New York and those operating under federal laws such as FINRA and NFA.
A Bitcoin exchange in the Philippines, Coins.ph has just added an instant remittance service to its list of its options, allowing users to withdraw, remit and send money directly from a bank’s ATM using this service.
Major magazine publisher Time Inc. just announced a partnership with Coinbase that will enable readers to pay for their subscriptions in Bitcoin.
Swedish based Bitcoin exchange, Safello announced that a new banking partnership will now allow U.K. customers to hold deposits. According to Safello this is a huge opportunity, considering many start-ups in the U.K.
According to a recent research report released by the Cato Institute, Bitcoin could potentially be replaced by other types of crypto-currencies in the near future, which should have better security features and will be less volatile than the current digital currency.
Microsoft is now allowing users to fund their Xbox accounts with and pay for its services using Bitcoin.
Many analysts believe that the frenzy surrounding Bitcoin is fading over the past few months as the volumes in the markets have dried up.
Many analysts believe that one of the main reasons Bitcoin has so far not been adopted by the masses is due to its ongoing price fluctuations. At the beginning of the year Bitcoin was as high as $900 but as the year progressed prices plummeted to $400.
Industry experts believe that in order for Bitcoin to be become more accessible to the masses, it is imperative for tech entrepreneurs who are setting up Bitcoin-related companies or apps to understand the pros and cons of traditional currency.
Although Japan is to a big player in the Bitcoin marketplace, being the first country to open its doors to Bitcoin entrepreneurs, the Japanese government is starting to be cautious and wanting to learn more about the crypto-currency, thanks to Mt. Gox filing for bankruptcy.
Liberty Teller, the MassChallenge startup that opened four Bitcoin ATM machines around the Boston area, has rebranded itself into LibertyX and will now allow users to purchase the digital currency around 2,500 locations in 33 states across the country.
DigitalTangible currently manages the world’s first Bitcoin/precious metal exchange. It allows consumers to use Bitcoins to buy these metals online, with the users identified through block chains.
HSBC recently severed its ties with GA Advisors, the world’s first regulated Bitcoin investment fund. Supposedly, the bank was worried about a “money laundering risk” activities in the Bitcoin industry.
One of the biggest advantages of Bitcoin is its user anonymity. Many analysts consider this to be one of the main reasons as to why it drew such extensive clientele.
The yearly North American Bitcoin Conference is gaining more and more prominence, thanks to a surge in registration. Participants have been working closely with the industry, investors and individuals who want to know more about the Bitcoin world.
Payward Inc, one of the leading Bitcoin exchanges stated that it will assist the recently collapsed Mt. Gox, on investigating the loss of hundreds of thousands of Bitcoins and manage the process of paying back its creditors.