Bitcoin 

Govt panel recommends shutting down Cryptocurrency Dealers in India.

The panel made the suggestion to curb the use of cryptocurrencies in the country, ETNow reported on Saturday quoting agencies. The report surfaces at a time when Bitcoin’s price has zoomed past $7,000 after the Chicago Mercantile Exchange (CME) Group Inc’s announcement on Tuesday that it plans to introduce bitcoin futures by the end of the year, after regulatory approval. Following the announcement, Coinbase Inc added more than 100,000 users in 24 hours. In July, Business Standard had reported that the government is considering setting up a regulatory structure to…

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Bitcoin 

Bobby Lee confer China’s Bitcoin Exchange Ban and Segwit2x

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. BTCC chief executive Bobby Lee does not think China currently has any plans to ease its hostile stance on domestic bitcoin exchanges, nor does he intend to reverse his support for the controversial SegWit2x hard fork that is scheduled to activate this month. Lee made these statements during an Ask Me Anything (AMA) held on the BitcoinMarkets subreddit. Although the AMA touched on a number of topics, the vast majority of questions related to SegWit2x and the…

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Bitcoin 

Bitcoin smashes through $6,600 to new record high after CME announces plans for futures contracts

>The price of bitcoin surpassed the $6,500 and $6,600 barrier in one day to hit a new record high >The move higher was boosted after the CME announced plans to launch bitcoin futures >CME’s plans could bring more institutional investors into the bitcoin market. Bitcoin surpassed $6,500 and $6,600 on Wednesday to hit a new record high after the CME announced plans to launch bitcoin futures later this year. The price of the cryptocurrency hit a high of $6,600.84 just hours after breaking through the $6,400 barrier, and minute after…

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Bitcoin 

$6,300: Bitcoin Price Hits Record High

Another week, another all-time high for the world’s most popular cryptocurrency as bitcoin price peaks above $6,300. It has been 10 days since prices advanced to unprecedented levels above $6,200 and the growing adoption and appetite for bitcoin has propelled prices beyond $6,300 following another record-breaking weekend. In the late hours of Sunday (UTC), bitcoin price touched a new record high of $6,345. While the factors behind the latest surge aren’t immediately clear, bitcoin’s increasing prominence in the mainstream under the spotlight as an investment instrument showcasing remarkable gains have…

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Bitcoin 

Bitcoin Price Stalls at $5,800, but Bitcoin Cash Rallies

The crypto markets made a net decline today, after — for the first time in three weeks — the bitcoin price did not set an all-time high on Friday. Instead, bitcoin posted a minor decline toward $5,800 and almost every top-tier cryptocurrency followed its example. Bitcoin cash, however, surged to its highest mark in nearly two weeks. Altogether, the total cryptocurrency market cap posted a 24-hour decline of about $2 billion. After entering the day at $171.7 billion, the crypto market cap ebbed and flowed throughout the day, but it…

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Bitcoin 

Bitcoin Price Dips Below $3,900, but Market Treads Water

Bitcoin price declined for the second straight day, dipping just under $3,900 after targeting the $4,000 mark earlier in the day. The overall markets also posted a minor pullback but were more or less stable compared to the near-constant volatility of the past month. bitcoin price Chart from CoinMarketCap The most pressing news of the day was a report that Chinese bitcoin exchange executives had been banned from leaving the country while investigators continue their investigation into now-illegal cryptocurrency trading. Elsewhere, India’s tax authority expressed concern about the large amount…

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News 

Why Industries May Experiment Smart Contracts via Bitcoin in 2017

Smart contracts were a popular trend throughout 2016, as investors, banks and major financial institutions explored the potential of smart contract-based protocols such as Ethereum to build innovative and decentralized applications. Yet, even Ethereum, a network valued at nearly US$930 million, struggled to demonstrate practical usage and efficient commercialization of smart contracts due to several internal bugs, delays in transactions and other security issues emerged from its prioritization of security over flexibility. Severe security compromisations and technical issues arise when a cryptographic network like Ethereum choose to favor flexibility and…

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Bitcoin 

Bitcoin Exchange Bitfinex Sues Wells Fargo Over Embargoed Wire Transfers

A lawsuit filed Wednesday in Northern District of California federal court, San Francisco division could turn out to hold meaning for the entire Bitcoin world. Bitfinex, the exchange which took heavy losses in face and treasure when it was hacked in 2015, is taking Wells Fargo to court for having reversed US dollar cash deposits designated for their customer accounts coming from Bitfinex. The legality of shutting down bank accounts merely for being related to the use of Bitcoin or cryptocurrency trading has long been questionable, but the outcome of…

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