Sunday, June 23

Tag: bitcoin

Chinese banks step up cryptocurrency ban, Valuation down to $30,000
CHINA

Chinese banks step up cryptocurrency ban, Valuation down to $30,000

Beijing, Jun 24th, 2021: China's biggest banks promised to refuse to help customers trade Bitcoin and other cryptocurrencies after the central bank said executives were told to step up enforcement of a government ban. Regulators appear to worry that despite the 2013 ban on Chinese banks and other institutions handling cryptocurrencies, the state-run financial system might be indirectly exposed to risks. After this announcement, Bitcoin's valuation falling below $30,000. Ethereum is more than 50% off its highs from early May. Many other crypto assets have fallen even further with a number of tokens down 70% to 90% in value. Beijing also worries users might evade efforts to monitor and control the financial system. The four major state-owned commercial banks and payment service ...
Top 5 Payment Providers For Online Gambling Industry
Tech

Top 5 Payment Providers For Online Gambling Industry

In the online gambling industry, players now have more options than ever before when it comes to payment providers. While initially, the main and in fact, only method was via a debit card and bank transfer, there have been sophisticated strides forward in technology which has enabled the development of more payment methods. It has meant that players have more of a choice to suit their preferences depending on whatever is the most convenient at a particular time. Below, you will find the top five payment providers that you can find at most casino sites and what is involved. You also do not have to necessarily just stick to one, as long as you register the ones that appeal to you. Paybyphone One of the newest payment methods that most online casinos have made available to...
Bitcoin.com Acquires Blockchain Startup O3 Labs
ACQUISITION

Bitcoin.com Acquires Blockchain Startup O3 Labs

JAPAN, TOKYO, October 23, 2019 — Bitcoin.com has acquires blockchain startup O3 Labs. The Tokyo-based software company that specializes in developing gateways to the digital economy. O3 Labs team join Bitcoin.com, forming a single team dedicated to creating tools for realizing the full potential of the Bitcoin Cash network. The two companies intend to work together to build the next generation of mobile financial services, which will bear the Bitcoin.com name. The strategic acquisition of O3’s blockchain and app development talent will allow Bitcoin.com to create intuitive and easy-to-understand user experiences that tie together Bitcoin.com, partners, and community financial service offerings across web, mobile, smart devices, and beyond. Stefan Rust, CEO of Bitcoin.com sai...
Bitcoin use causing 22 megatonnes CO2 emissions
News

Bitcoin use causing 22 megatonnes CO2 emissions

The use of Bitcoin leads to about 22 megatonnes in CO2 emissions annually, comparable to the total emissions of cities such as Hamburg or Las Vegas, according to the most detailed analysis to date of the cryptocurrency's carbon footprint. Researchers at the Technical University of Munich (TUM) in Germany analysed such data as the IPO filings of hardware manufacturers and the IP addresses of Bitcoin "miners." The study, published in the journal Joule, was able to localise 68 percent of the Bitcoin network computing power in Asian countries, 17 percent in European countries, and 15 percent in North America. Although Bitcoin is a virtual currency, the energy consumption associated with its use is very real. For a Bitcoin transfer to be executed and validated, a mathematical puzzle...
Federal Reserve to study Facebook virtual currency
USA

Federal Reserve to study Facebook virtual currency

The US Federal Reserve has created a "working group" that is coordinating with government agencies and other central banks to consider the implications of Facebook's planned virtual currency Libra. At a hearing at the US House Financial Services Committee, Powell told lawmakers that the cryptocurrency plan raises "serious" questions. "Let me start by saying that we do support responsible innovation in the financial services industry as long as the associated risks are appropriately identified and managed," he told the panel. "While the project's sponsors hold out the possibility of public benefits, Libra raises serious concerns regarding privacy." Powell said the Fed was "coordinating with our colleagues in the government in the United States" and "with central banks and governme...
Facebook New cryptocurrency Libra backed by Visa, Mastercard, PayPal and Uber
News

Facebook New cryptocurrency Libra backed by Visa, Mastercard, PayPal and Uber

California, 18th June 2019: Facebook will unveil its cryptocurrency "Libra" in a bid to bring cryptocurrency payments into the mainstream with the backing of big tech companies. The world's biggest social network is expected to outline details of a virtual currency launching next year that it hopes will avoid the rollercoaster volatility of "blockchain" technologies such as bitcoin. Facebook is setting up a consortium called "Libra" which backed by more than a dozen companies including Visa, Mastercard, PayPal, and Uber. The companies along with venture capitalists and telecommunications firms will reportedly invest around $10 million each into the consortium. Facebook has been trying to ward off hostile regulatory scrutiny after a series of privacy abuses and the spread of fa...
Facebook considering its own cryptocurrency Payments
News

Facebook considering its own cryptocurrency Payments

As per the news reports, the social media giant Facebook plans its own cryptocurrency-based payment system that it could launch for billions of users worldwide. The system would use a digital coin similar to bitcoin, but different in that Facebook would aim to keep the coin's value stable. Bitcoin and similar cryptocurrencies have been susceptible to wild fluctuations in value.It could reportedly undermine credit cards by sidestepping the processing fees that generate much of their revenue. The news said Facebook is recruiting dozens of financial firms and online merchants to launch the network. Facebook's plans may include ways to financially reward users who interact with ads or other features. Facebook says only that it is exploring many different applications for crypto...
Cryptocurrency Platform Liquid.com becomes Unicorn
FUNDING

Cryptocurrency Platform Liquid.com becomes Unicorn

Global cryptocurrency platform Liquid.com raises Series C funding that puts the company valuation at over $1 billion. This valuation establishes Liquid as one of only two tech unicorns in Japan's startup space. Founded in 2014, Liquid has achieved unicorn status in less than five years. This latest round of funding is led by investment firm IDG Capital, with participation from the world's largest maker of cryptocurrency mining rigs, Bitmain Technologies. This investment in Liquid marks an addition to IDG's current portfolio of crypto investments, which include Coinbase, Ripple, Bitmain and Kakao's crypto unit. This deal marks the latest investment for Bitmain this year into a regulated digital asset trading platform, following their investment into ErisX, another deri...
$137 Million Lost, Bitcoin Founder died without revealing the Password
News

$137 Million Lost, Bitcoin Founder died without revealing the Password

A Canadian cryptocurrency exchange was granted bankruptcy protection on Monday after its president took passwords for accounts containing 180 million Canadian dollar (USD 137 million) to his grave when he died suddenly. Nova Scotia's high court granted the application made by Cotten's widow Jennifer Robertson on behalf of the company, which has also stopped currency trading on its platform. Quadriga CX had announced mid-January that Cotten died of complications from Crohn's disease on December 9 while volunteering at an orphanage in India. He was 30. The company also released full detail about court order on its website. https://pixr8.com/usa/playboy-introduces-cryptocurrency-wallet-for-its-online-platforms/ In an affidavit, Robertson said the company has been unable to ...
Ohio Becomes the First State to Accept Bitcoin for Tax Payment
USA

Ohio Becomes the First State to Accept Bitcoin for Tax Payment

Ohio, a Midwestern state in the United States has become the first stated that would accept bitcoin for tax payments. With this, now, the businesses in Ohio will be able to pay their taxes in bitcoin — making the state that’s high in the middle and round on both ends the first in the nation to accept cryptocurrency officially. The companies that want to become a part of it simply need to go to OhioCrypto.com and register to pay whatever taxes their corporate hearts desire in crypto. The bitcoin program id the brainchild of current Ohio state treasurer, Josh Mandel and it is intended to be a signal of the state’s broader ambitions to remake itself in a more tech-friendly image. Already, Ohio has something of a technology hub forming in Columbus, Ohio, home to one of the largest ventur...
Cryptocurrency Bitcoin Falls Below $8000
Market

Cryptocurrency Bitcoin Falls Below $8000

In a recent news, Cryptocurrency Bitcoin fell below $8000, as investors stepped away from the risk exposure to cryptocurrencies, due to selloff in shares of technology and internet companies spilled over into other high risk assets Bitcoin is a cryptocurrency, a kind of electronic cash. It is a decentralized digital currency without a central bank or single administrator, though some researchers point at a trend towards centralization. It  can be sent from user to user on the peer-to-peer bitcoin network directly, without the need for intermediaries, though intermediaries are widely used.   “It looks like the entire market is in a risk-off mood today. It started with the (FAANG) stocks, but the mood seems to be dragging down crypto markets as well at the moment,” said Mati Gree...