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Showing posts from October, 2017

What's the Price of Bitcoin Gold? Crypto Traders Still Aren't Sure

From $0 to $2,900 – and seemingly everywhere in between. Bitcoin gold, a new fork of the bitcoin software, may not have been officially launched (or distributed to users), but that isn't stopping the cryptocurrency markets from seeking to determine its potential value (or profiting from its eventual existence). In an interesting twist on a typical distribution, a number of exchanges are now listing a token that represents a claim on the future delivery of bitcoin gold (in advance of it becoming available to all bitcoin users). Ahead of that event, however, traders are seeking to value the asset, which proposes an alternative to the difficulty of competing for rewards on bitcoin's mining network. Still, it's safe to say there's disagreement so far. In interview, analysts expressed a reservation about bitcoin gold, both when speaking about its developer team, and when characterizing the protocol's potential market opportunity. Safiri Felix, a researcher at financ...

Quiet Surge: Bitcoin Price Sets New High Above $6,000

Coindesk News The price of bitcoin has hit a new all-time high, crossing the $6,000 line for the first time. Markets climbed as high as $6,003.81, according to CoinDesk's Bitcoin Price Index (BPI). This figure surpasses the previous all-time high set on October 13, when the price rose to $5,856.10. BPI data shows that the price climbed more than $200 in the past hour, with markets showing an average price of $5,697 prior to the ramp. At press time, the price of bitcoin is trading at around $5,968. Figures from CoinMarketCap.com show that some exchanges are currently reporting a price above $6,000, including Bitfinex and Bithumb, the world's two largest exchanges by volume. Today's move pushes the network's collective market capitalization closer to the $100 billion line. At press time, according to the BPI, bitcoin's market cap is roughly $99.5 billion. Update: This story has been updated to reflect new market data after bitcoin's price ros...

Bitcoin use grows in Philippines, regulators flex muscle

ABS-CBN News Posted at Oct 16 2017 10:49 AM | Updated as of Oct 16 2017 10:50 AM MANILA - The Bangko Sentral ng Pilipinas has released guidelines on cryptocurrencies including bitcoin, as transactions involving digital coins grew, an official said. Cryptocurrency transactions have grown to $6 million daily from $2 million to $3 million a few years ago, BSP deputy director Melchor Plabasan told ANC's On the Money. "The main objective is to balance the interests of harnessing innovation, at the same time, managing attendant risks," Plabasan said of the central bank circular released in February, the first of its kind in Asia. Digital currencies can be used for money laundering but this can be countered by anti-money laundering controls and KYC or know-your-customer practices, said Plabasan. Virtual wallets should be protected like physical wallets using multi-factor authentication and securing the email linked to the cryptocurrency account, he said. ...