Bitcoin is back above $1,000
Bitcoin is is back above $1,000 for the first time since January 5. The cryptocurrency was higher by 1.5% at $1,000.10 a coin as of 11:39 a.m. ET. It’s been a wild year for bitcoin. It began 2017 with a 20% rally during the first five days of the year before crashing 35% on concerns of a crackdown on trading in China. Thursday’s gains have extended bitcoin’s winning streak to a sixth straight session as trade appears to be benefitting from uncertainty surrounding Donald Trump’s presidency. The cryptocurrency has gained nearly 10% since Trump was inaugurated on January 20. To read more, please click on the link below… Source: […]
Value of digital currency Bitcoin surges past $US1000
The value of Bitcoin has surged above $1000 as the digital unit continues a dizzying rise that made it the best-performing currency of 2016. Its value has more than doubled in the last year and it was trading at around $US1,024 in afternoon European trading yesterday, after breaking through the $US1000 mark on Sunday. It is now within reach of its historic high of more than $US1200 reached in 2013. Some analysts believe the rise in Bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty. Others believe buying is being driven by speculative demand, with investors anticipating future rises and […]
Barclay’s Antony Jenkins jumps aboard Blockchain bitcoin start-up
One of Europe’s top bankers is joining a bitcoin start-up. Antony Jenkins, the former chief executive of Barclays, has joined the board of Blockchain, a London-based start-up that provides services related to bitcoin and cryptocurrencies. The company, named after the basic technology that creates the shared network used to move and track bitcoin, raised $US30 million ($40m) in an initial fundraising in 2014. Blockchain software has been used by other bitcoin firms, such as Coinbase, as well as its own app and website service for consumers to buy and sell digital currency. It is also developing tools for using bitcoin’s underlying technology for things such as tracking identity information or […]
5 enterprise-related things you can do with blockchain technology today
Diamonds. Bitcoin. Pork. If you think you’ve spotted the odd one out, think again: All three are things you can track using blockchain technologies today. Blockchains are distributed, tamper-proof, public ledgers of transactions, brought to public attention by the cryptocurrency bitcoin, which is based on what is still the most widespread blockchain. But blockchains are being used for a whole lot more than making pseudonymous payments outside the traditional banking system. Because blockchains are distributed, an industry or a marketplace can use them without the risk of a single point of failure. And because they can’t be modified, there is no question of whether the record keeper can be trusted. […]
Here’s why Trump’s win boosted Bitcoin
As Trump’s electoral victory became clear, global markets plunged into volatility. Dow Jones stock futures dropped by 3.8% in premarket trading, S&P futures by 3% overnight, and Nasdaq futures by almost 5%. All major European indices dropped by 2%, on average. The price of bitcoin, however, surged around 4% to reach highs of $738.33 overnight. The cryptocurrency saw similar gains in June after the Brexit vote, suggesting that investors are increasingly turning to bitcoin in times of political and economic uncertainty. There are a number of reasons why bitcoin proves attractive in these circumstances: It’s an alternative asset. Alternative assets are non-traditional assets — other examples include precious metals and […]
Fintech could be bigger than ATMs, PayPal, and Bitcoin combined
We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: […]
6 Things You Should Do to Avoid Fake Bitcoin Wallet App Scams
It is now apparent that a fake wallet app is the newest Bitcoin theft risk you should score. You’ve probably heard that Apple Store and Google Play have very stringent app review processes. That they only allow apps that won’t harm you to access through their platforms. If that gave you a sense of security, I am sorry to tell you it is a false one. Members of the bitcoin community have just discovered about eight fake bitcoin wallet apps in the Apple Store. They were all imitations of some the most used Bitcoin wallet apps, including Coinbase, BreadWallet, BitGo, Armory and Green Address. If you, unfortunately, happened to download […]
Banks to develop new digital cash unit for settlement
Four of the world’s biggest banks have teamed up to develop a new form of digital cash they believe will become an industry standard to clear and settle financial trades using blockchain, the technology underpinning bitcoin. UBS, the Swiss bank, pioneered the “utility settlement coin” and has now joined forces with Deutsche Bank, Santander and BNY Mellon – as well as the broker ICAP – to pitch the idea to central banks, aiming for its commercial launch by early 2018. The move is the first example of a group of leading banks coming together to co-operate on a specific blockchain technology to harness the power of decentralised computer networks and […]
