Venezuela’s Fiat Currency is Declining Rapidly and Bitcoin is Taking Over

Venezuela’s Fiat Currency is Declining Rapidly and Bitcoin is Taking Over

Years of hyperinflation of the Venezuelan bolivar has made the currency nearly unusable.

This Russian Presidential Candidate Wants to Legalize Bitcoin

Boris Titov, a Russian businessman/ombudsman and bitcoin advocate, recently revealed he will participate in the presidential elections in 2018.

Bitcoin Price to Hit $50,000 Next Year: Private Venture Capitalist

Kenetic Capital managing partner has said that he expects bitcoin to reach $50,000 by the end of 2018 as the cryptocurrency market becomes globally accepted.
51% of Respondents Chooses Bitcoin Over Gold and Fiat: Ron Paul Survey

51% of Respondents Chooses Bitcoin Over Gold and Fiat: Ron Paul Survey

The poll of former Texas congressman Ron Paul participated by more than 43,000 social media users has shown that the majority of respondents would rather have bitcoin over gold, US Treasury Bond, and the US dollar.
Bitcoin Hits $12,000 Ahead of Futures Contracts Launch

Bitcoin Hits $12,000 Ahead of Futures Contracts Launch

Bitcoin hit an all-time high of $12,000 today, with a market capitalization of around $200 billion, according to data from CoinmarketCap.

Sweden is Evolving into the Next Major Bitcoin Industry and Mining Market

Claire Ingram Bogusz, a researcher at Stockholm School of Economics, noted that Sweden’s bitcoin market is growing at a rapid rate, due to friendly regulatory frameworks for fintech startups and cryptocurrency mining. “Sweden is among the leaders in the global bitcoin market. There’s a very high-level of knowledge about it here, and a high-level of digital competence in the Fintech space.

French Asset Management Firm Launches Europe’s First Bitcoin Mutual Fund

TOBAM, a France-based asset management company, has introduced a bitcoin mutual fund to offer an alternative investment for institutional investors seeking exposure to bitcoin. The fund, according to the company, is unregulated. TOBAM’s bitcoin fund precedes the Chicago Mercantile Exchange’s plans to list bitcoin futures. In seeking to address challenges investors have faced in gaining exposure to bitcoin, the fund integrates the management of blockchain forks and takes measures to mitigate the risk of loss and theft, according to the TOBAM website.
Setbacks And Naysayers Begone! Bitcoin Breaks $8,000 On Investor Confidence

Setbacks And Naysayers Begone! Bitcoin Breaks $8,000 On Investor Confidence

Bitcoin broke through the $8,000 price mark this morning, reaching an all-time high of $8,100, thumbing its nose at the growing chorus of doomsayers reacting to the financial industry’s rising interest in the cryptocurrency. The price in the afternoon had dipped below the $8,000 mark, but the past week’s trend has been positive. Shortly after noon, bitcoin’s price stood at $8,067.
Setbacks And Naysayers Begone! Bitcoin Breaks $8,000 On Investor Confidence

Setbacks And Naysayers Begone! Bitcoin Breaks $8,000 On Investor Confidence

Bitcoin broke through the $8,000 price mark this morning, reaching an all-time high of $8,100, thumbing its nose at the growing chorus of doomsayers reacting to the financial industry’s rising interest in the cryptocurrency. The price in the afternoon had dipped below the $8,000 mark, but the past week’s trend has been positive. Shortly after noon, bitcoin’s price stood at $8,067.

Miami Realtors Bullish On Accepting Bitcoin, List $3.5 Million Condo

Eric Fernandez, owner of Sol/Mar Real Estate, recently listed a $3.5 million penthouse condo at the Blue Diamond in Miami Beach, Fla. saying the owners would accept payment in bitcoin or Ethereum, according to the Miami New Times. Fernandez believes it is only a matter of time before bitcoin acceptance for real estate purchases gains popularity.

Bitcoin Play Speaks to Square’s Innovation, Not Bitcoin’s Validation, Says CFO

Sarah Friar, CFO and operations lead at Square, told CNBC that her company’s recent move to enable bitcoin trading stands as a testimony to its innovation as opposed to a validation of bitcoin, according to a recent report. Square’s cash app, which is used for payment among friends, is testing the ability to buy and sell bitcoin, a benefit that could make bitcoin easier to trade for a huge swath of the population, particularly younger consumers.
‘Buy Bitcoin’ Overtakes “Buy Gold” as Private Gold Trading Declines in October

‘Buy Bitcoin’ Overtakes “Buy Gold” as Private Gold Trading Declines in October

Private investor gold trading fell by a third in October as Google searches to ‘buy bitcoin’ overtook yellow metal searches worldwide, according to BullionVault. Adrian Ash, the director of research at BullionVault, the physical gold and silver market for private investors online, said that the amount of gold changing hands shrank by nearly one-third in October compared to the previous 12 months, down by 31.5 percent. Ash reports that gold buyers fell by 9.7 percent during October from the month before, whereas the number of sellers declined by 26.

Blockchain Entrepreneurs Invigorated By CME’s Bitcoin Futures Move

CME Group’s recent decision to list regulated bitcoin futures contracts by year’s end drew doomsday scenarios from some Wall Street investors, but blockchain and fintech entrepreneurs see it as a sign of the cryptocurrency’s growing acceptance which will bring more mainstream investors to bitcoin.

Bitcoin Continues to Gain Usage for Retail Purchases; A List of Major Retailers

In a 1999 interview, Professor Milton Friedman, an American economist who received the 1976 Nobel Memorial Prize in economic sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy, said the Internet would be a major force for reducing the role of government. The one thing that was missing but would soon be developed, said Friedman, was a reliable e-cash. Nearly 10 years after the introduction of bitcoin, the cryptocurrency continues to gain acceptance as a form of payment.

India’s Bitcoin Boom: Zebpay Forecasts 500k New Users Monthly in 2018; Hits 1 Million App Downloads

Indian bitcoin wallet and exchange platform Zebpay strikes a million downloads of its app-only service on Android and forecasts half a million new users a month, up from 200,000 currently. Launched in 2015, bitcoin startup Zebpay is now among India’s major bitcoin exchanges alongside Unocoin and Coinsecure. Unlike its competitors, Zebpay has adopted an app-only model in a country where mobile tariffs are among the cheapest in the world with a soaring adoption rate of smartphones. “We worked hard to understand and solve the pain point of understanding bitcoins,” explains co-founder Saurabh Agarwal in a Forbes interview.

Australia Passes Law to Officially Kill Double Bitcoin Tax

Come July 2018, Australia will (finally) remove the double taxation of transactions involving cryptocurrencies like bitcoin. Under current law mandated in December 2014, Australians are taxed twice for digital currency transactions – once for the goods and services (GST) tax on the purchase and again for the digital currency used in the transaction. Bitcoin and other digital currencies are seen as an ‘intangible’ property under rules mandated by the Australian Tax Office.

Seller Of £17 million London Mansion Will Only Accept Bitcoin

Buyers wishing to purchase a Notting Hill mansion that will go on the market for £17 million will need to pay in bitcoin, which is believed to be a first for London, according to the Evening Standard. The six-storey stucco-fronted home is near Portobello Road.

Bitcoin Price Boom Built on Sound Fundamentals, Observers Tell Naysayers

When bitcoin price reaches new heights, the critics raise their voices. As the price approached the $6,000 benchmark Friday, it didn’t take long for critics to warn of impending doom. Wall Street banker Jamie Dimon, chief executive of JP Morgan Chase, unleashed another one of his diatribes against bitcoin Friday in response to a CNBC moderator question at an event hosted by the Institute of International Finance, reiterating that he believes blockchain technology is useful but that non-fiat cryptocurrency “has no value.
Woo’s Law: Bitcoin Users Double Every 12 Months; Major Factor For Long-Term Price Surge?

Woo’s Law: Bitcoin Users Double Every 12 Months; Major Factor For Long-Term Price Surge?

Willy Woo, a highly regarded Bitcoin and cryptocurrency researcher, recently revealed that the number of Bitcoin users approximately doubles every 12 months. Utilizing Google Trends as one of the main indicators of Bitcoin user growth, Woo formed the following infographic to demonstrate the exponential growth rate of the Bitcoin userbase.

$95 Billion: Bitcoin is Bigger than Goldman Sachs

On October 13, the market cap of Bitcoin surpassed that of Goldman Sachs after a meteoric rise in the past three days. With a market cap of $95 billion, Bitcoin surpassed Goldman Sachs by more than $3 billion. Goldman Sachs, the second largest investment bank in the world, has sustained a market cap of $92 billion throughout the past 12 months but has struggled to demonstrate an increase in growth in terms of market cap.

Bitcoin Adopters in Australia Swell Amid Regulation, Record Highs

Bitcoin is in the headlines again for hitting new all-time highs, driving both retail and mainstream investors across the world to get in on the frenzy. Bitcoin price hit an unprecedented all-time high of $5,920 on Friday, representing a remarkable 490% growth for the cryptocurrency since the turn of the year. Key factors boosting confidence in the cryptocurrency this year include Japan’s legislation of bitcoin as a legal method of payment in the country, a noteworthy acceptance of the decentralized digital currency from the third largest economy in the world.
Breaking: Taiwan Follows Bitcoin-Friendly Japan, Avoids China & Korea ICO Bans

Breaking: Taiwan Follows Bitcoin-Friendly Japan, Avoids China & Korea ICO Bans

Taiwan will not regulate against initial coin offerings (ICOs) and cryptocurrencies like bitcoin and will avoid the hardline stance taken by the likes of China and South Korea. In significant news today, Taiwan’s Financial Supervisory Commission chairman Wellington Koo has told a joint session of the parliament and the cabinet today that Taiwan will not follow the paths of China and South Korea in an outright ban on crypto-related activity. Instead, the head of Taiwan’s financial regulator pledged to adopt a friendlier stance to support the development and adoption of both cryptocurrencies and blockchain technology in the country.

Bitcoin Needs Regulation for Legality in India: Economist

A prominent Indian economist has opined that regulation is necessary for bitcoin to become a legal currency in the country. Speaking to Indian business daily the Economic Times, Dr. S.P. Sharma – chief economist at the PHD Chamber of Commerce and Industry, questioned the likelihood of bitcoin becoming a mainstream legal currency in the absence of regulation and monitoring.

Bahrain’s Government is Keen on Adopting Bitcoin, Reveals Official

Bahrain is interested in adopting digital currencies like bitcoin amid a wider impetus toward a ‘country level’ adoption of blockchain technologies. The Kingdom of Bahrain, a constitutional monarchy of over 30 islands in the Persian Gulf, is taking a bitcoin-friendly approach in its advent to become a FinTech hub in the region. Speaking at the MIT Innovation Forum in Bahrain’s capital of Manama on Wednesday, Khalid Al Rumaihi, chief executive of Bahrain’s Economic Development Board revealed plans toward installing a regulatory sandbox in the country.

How Malaysia’s Legalization of Bitcoin Could Bring Millions of New Users

Earlier this week, Cryptocoinsnews reported that the Malaysian government and its financial regulators are set to regulate the Malaysian bitcoin industry and legalize the usage of the digital currency within the country. Bank Negara Malaysia (BNM) governor Muhammad bin Ibrahim, a Malaysian central bank official, stated: “We hope that by year end, BNM will be able to come out with some guidelines on cryptocurrency, particularly those related to anti-money laundering and terrorist financing.