Showing posts with label bitcoin news. Show all posts
Showing posts with label bitcoin news. Show all posts

2 March 2018

Japans Bank Conglomerate SBI Group Postpones Planned Cryptocurrency Exchange Lauch Date

Japans Bank Conglomerate SBI Group Postpones Planned Cryptocurrency Exchange Lauch

Japans Bank Conglomerate SBI Group Postpones Planned Cryptocurrency Exchange Lauch Date

Japan’s bank giant SBI Group cryptocurrency exchange launch date has been postponed.

According to SBI the reason behind the postponement of its exchange launch date is basically for security improvement purposes which they also apologized for.

“We made a decision which will take some extra time to further strengthen security measures, assets management, and customer management systems in order to make sure cryptocurrency exchange users are most secured,” SBI wrote in the announcement.

SBI Group plans to launch cryptocurrency exchange SBI Virtual Currencies was first made public in October, 2016.

SBI’s move to boost the exchange’s security system is likely in part motivated by the massive $534 mln hack of one of the largest Japanese cryptocurrency exchanges Coincheck on Jan. 26. “The biggest theft in the history of the world” forced Japan’s Financial Services Agency (FSA) to increase the scrutiny of cryptocurrency exchanges, with particular attention to computer system safety measures and the management of customers assets.
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17 February 2018

Japans 15 Cryptocurrency Exchanges to be Inspected - FSA

Japans 15 Cryptocurrency Exchanges to be Inspected -FSA.

Japan’s Financial Services Agency to inspect 15 Cryptocurrency Exchanges

15 unregistered Japan cryptocurrency exchanges to be inspected by Japan’s Financial Services Agency (FSA) after the Coincheck hack this report was made by The Japan Times on 16th February, 2018.

Japan-based crypto exchange Coincheck was invaded on Jan. 26 and around $530 mln in altcoin NEM was stolen.

Japan’s Financial Services Agency to inspect 15 Cryptocurrency Exchanges 

All Crypto exchanges must be registered by the government. Crypto exchanges that had been operating in Japan before April 2017 were allowed to continue operations while applying for their registration, says The Japan Times. this new development was as part of Japan’s legalization of Bitcoin (BTC) as a payment method in April 2017.

SEE ALSO: Tether Adds 146 mln euro-pegged EURT to its Ethereum Blockchain Token

After receiving the reports from Japan’s 16 registered and 15 unregistered exchanges, the FSA ordered the on-site inspections of the unregistered exchanges. Coincheck has already submitted their report to the FSA on Feb. 13.

Financial Services Minister Taro Aso said that the main purpose for the on-site inspections is to pay particular attention to computer system safety measures and the management of customer assets.

Coincheck, which is unregistered but whose application was under review at the time of the hack, was inspected by the FSA after the hack on Feb. 2 to ensure user protection.
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Tether Adds 146 mln euro-pegged EURT to its Ethereum Blockchain Token

Tether Adds 146 mln euro-pegged EURT to its Ethereum Blockchain Token.

Tether Adds 146 mln euro-pegged EURT to its Ethereum Blockchain Token

This month,  86 mln euro-pegged EURT and 60.1mln dollar-pegged USDT  has been added to Tether newly created tokenits issuance as Finance Magnates reports Feb. 15.

Ethereum token was issued with two wallets currently showing the ongoing activity as Tether continues to face mixed press following volatility.
Last September, Finance Magnates made a quote from Bitfinex sister exchange Ethfiex, the new tokens form part of a new collaboration bringing Tether to Ethereum.

SEE ALSO: Cryptocurrency Investors to Pay 55 Percent Annual Tax Fee on Profits - Japanese National Tax Agency

“Following the widespread success of their Bitcoin-based USDTether, issued via the Omni Layer Protocol, Tether have now collaborated with Ethfinex on the development of the first Ethereum-based Tether, compatible with the ERC20 standard,” the announcement read.

“The ERC20 Tether allows for tokenised USD to be exchanged on the Ethereum network, enabling interoperability with Ethereum-based protocols and DApps whilst allowing users to transact with fiat currencies across the Ethereum Network.”

According to reports, Tether Deposits and withdrawals of the tokens began Jan. 22, 2018. But little more in terms of detail has surfaced regarding the scale of issuance now or for the future.

Tether and Bitfinex unsettled subpoena request markets has been reported to resurface in mainstream media.
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10 February 2018

Cryptocurrency Investors to Pay 55 Percent Annual Tax Fee on Profits - Japanese National Tax Agency

Japanese National Tax Agency New rules on Cryptocurrencies 2018, Cryptocurrency Investors to Pay 55 Percent Annual Tax Fee on Profits.

Cryptocurrency Investors to Pay 55 Percent Annual Tax Fee on Profits

According  to Bloomberg recent report on 8th Feb, 2018, Japanese cryptocurrency investors has been asked to pay an annual tax fee of  about 15 and 55 percent from their profits this year.

“last year” virtual currency capital gains on transactions are considered “miscellaneous income,” 
The above statement was made by the Japanese National Tax Agency 
Those who earn more than 40 mln yen a year (about $367,600) on cryptocurrency profits tax is higher than the around 20 percent tax levied on profits from stocks and foreign currencies.

Also, South Korea had announced in Jan. that crypto exchanges will be taxed 24.2 percent, in line with the existing tax policy for corporations.

According to Bloomberg, around 40 percent of Bitcoin (BTC) trading recently has been against the yen, meaning the country will receive a large revenue from taxing crypto.
The Japanese National Tax Agency is creating a database of cryptocurrency investors, potentially to ensure enforcement of the tax laws, as well as retaining teams in Tokyo and Osaka to watch electronic trading. This was made known to us by Bloomberg.

The US Internal Revenue Service (IRS) also reported today that they have created a 10 person team of investigators aimed at tracking down crypto users that failed to report their profits in their tax declarations.

Japan had recognized Bitcoin as a legal method of payment back in April 2017, a step towards helping the government prevent unregulated exchanges from hacks and mismanagement like the Mt. Gox meltdown in 2014.

We will keep updating you on Japanese National Tax Agency New rules on Cryptocurrencies 2018
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4 January 2018

Grand Mufti Shawki Allam Declares Bitcoin Trading Unlawful - Egypt

Grand Mufti Shawki Allam Declares Bitcoin Trading Unlawful - Egypt

Egypt Grand Mufti Shawki Allam Declares Bitcoin Trading Unlawful

Grand Mufti Shawki Allam -  An Egypt highest official of religious law, recently declared Bitcoin trading “unlawful” under Sharia law, according to  Ahram report today

SEE ALSO: 2018 Cryptocurrency Prophesies

Allam further stated that Bitcoin negatively affects “dealers’ legal safety” and that:

In the fatwa issued Monday, Allam wrote that Bitcoin is not an “acceptable interface of exchange” and is therefore unlawful to trade. The Egyptian cleric also cited Bitcoin’s potential for money laundering and pointed out that because it isn’t subject to any government’s control, Bitcoin could potentially undermine the Egyptian economy.

SEE ALSO: Bitcoin is Like a Ponzi Scheme - India’s Ministry of Finance

"Bitcoin is forbidden in Sharia as it causes harm to individuals, groups and institutions.”
Bitcoin is “used directly to fund terrorists.” Egypt’s government is also no fan of cryptocurrencies, having called Bitcoin a “form of deception that falls under legal liability.”
Halal or not? this statement was made by one of the grand mufti’s advisors to BBC

““Historically, though, Islam has only recognized commodities of intrinsic value as money including things like gold (Dinar), silver (Dirham); rice, dates, wheat, barley and salt. In a strict interpretation of what qualifies as money, Bitcoin probably misses the mark.”
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1 January 2018

2018 Cryptocurrency Prophesies

Cryptocurrency Prophesies 2018.

1) Many people who live by the rules will have their breakthrough through cryptocurrency this year.

2) Many shitcoins of 2017 will not last till the end of 3rd quarter this year 2018 resulting to noobs losing their money (no pity for stupidity).

3) There will be massive adoption of cryptocurrency this year.

4) Cryptocurrency will face many regulations, but shall win at the end of the day. The power belongs to the people.

5) Many will regret not investing into cryptocurrency early.

6) Cryptocurrency will shake the banking sector this year.

7) There will be decline on treasury bill, stock, bonds, real estate etc because people will embrace cryptocurrency.

8 ) Bitcoin will survive the storm like an eagle.

9) There will be more adoption of blockchain technology.

10) Wealth is changing hands, only the smart ones will be beneficiaries.

We need banking system not banks.

Hail Cryptocurrency - The present and future money/asset.
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30 December 2017

Bitcoin is Like a Ponzi Scheme - India’s Ministry of Finance

Bitcoin Ponzi Scheme, India's Ministry of Finance, cryptocurrencies Ponzi, Bitcoin Ponzi in Nigeria, Bitcoin Ponzi in India, Reserve Bank of India (RBI)

Bitcoin Ponzi


Bitcoin and the other digital currencies are “like Ponzi schemes” and investors should take extra caution when investing in them, in a statement issued this Friday  by India’s Ministry of Finance.

The ministry also announced that the cryptocurrencies lack “fundamental value,” as well as the backing by any assets and “mere speculation” is the only reason why their prices continue to increase.

ALSO READ: Bundesbank: Eurozone not Considering Cryptocurrency | Carl-Ludwig Thiele


In its statement, the Ministry restate that there is a real and much risk of an investment bubble in the cryptocurrency market that is similar to Ponzi schemes. This may result in an immediate and prolonged crash where investors, particularly the retail consumers, may lose all their hard-earned money.

Read India’s Ministry of Finance Statement on Bitcoin Below:

“There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money. Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes.”

ALSO READ:Cheapest States to Mine Bitcoin in USA


The committee’s members included the country’s central bank, the Reserve Bank of India (RBI).

Although, the government of India is yet to introduce regulations covering the digital currency market, but it already created an interdisciplinary committee to research and to develop a regulatory framework for the sector.

Meanwhile, the Indian Supreme Court has issued an appeal to the government in November to start the drafting of a regulatory framework to ‘control the flow of Bitcoin’ in the country.

Despite its latest warning, the finance ministry has not implemented a total ban on virtual currency trading and has not announced any measures that will curb the adoption and trading of digital currencies in India.

Source: Cointelegraph
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23 December 2017

Bundesbank: Eurozone not Considering Cryptocurrency | Carl-Ludwig Thiele

 Eurozone not Considering Cryptocurrency says Carl-Ludwig Thiele.

Eurozone not Considering Cryptocurrency says Carl-Ludwig Thiele

One of the largest banks in Europeboard member Carl-Ludwig Thiele of Bundesbank has confirmed that the euro zone is not considering a digital currency.

According to him:

“Digital central bank money analogous to cash is currently not in sight.”

The statement runs contrary to a previous statement made by Jens Weidmann, the head of Bundesbank, suggesting that a digital currency comparable to Bitcoin could potentially protect European citizens.

ALSO READ: Cheapest States to Mine Bitcoin in USA

 Investors should also note that substantial losses were very possible Thiele warns. He stated:

“We are seeing a rapid increase in value, which brings the risk of rapid losses.”
Digital currencies like Bitcoin has already been suggested to be regulated by the European Central Bank, despite previous comments that the government was powerless to regulate cryptocurrencies.

Even after the rejection of the concept in the eurozone, other countries are still considering governmental cryptocurrencies. Russia and Dubai have both begun working toward nationalized digital currencies.
Read More »

22 December 2017

Cheapest States to Mine Bitcoin in USA | Johntechservice

Cheapest States to Mine Bitcoin in USA 2018, List of Costliest States for Mining Digital Currencies, Top 5 States with the Highest Bitcoin Mining Rates, Where Else in the US is it Cheap to Mine Bitcoin?

Top 5 States with the Highest Bitcoin Mining Rates

According to analysis which we got from a reliable source, it was revealed that a company called  Crescent Electric (CESCO) which supplies Electricity says that the state of Louisiana is the cheapest state in the US to mine Bitcoin.

This is significantly cheaper than the current price of Bitcoin, which is currently trading at around $12,000 per coin, as of press time.

Based on CESCO’s latest study of the cost of crypto-currency mining across the US, it is currently cheapest to mine Bitcoin in Louisiana -- electricity costs at 9.87 cents per watt puts the average cost of mining one Bitcoin at $3,224.

Where Else in the US is it Cheap to Mine Bitcoin?

The cost of Bitcoin mining based on the wattage consumption of the three most popular mining rigs, namely, the AntMiner S9, the AntMiner S7, and the Avalon 6, as well as the average days each rig takes to mine a token. These figures were then multiplied by the average electricity rate in each state this figures was estimated in CESCO recent study.

ALSO READ: US ISIS Supporter Nabbed for Sending $150k In Laundered Crypto To Syria

Aside from Louisiana, the other top five states with the lowest cost to mine Bitcoin are Idaho ($3,289 per token), Washington ($3,309), Tennessee ($3,443) and Arkansas ($3,505).

List of Costliest States for Mining Digital Currencies

The study also names the most expensive states for digital currency mining. The list of costliest states is led by Hawaii, which takes an average mining cost of $9,483 per coin.

Top 5 States with the Highest Bitcoin Mining Rates

Rounding up the top five states with the highest Bitcoin mining rates are Alaska ($7,059), Connecticut ($6,951), Massachusetts ($6,674) and New Hampshire ($6,425).

The growing interest in cryptocurrency has been accompanied by growing concern over the energy required to mine crypto, namely Bitcoin. Such claims have been recently countered, as a report came out claiming that put crypto-currency mining in the larger context of energy consumption.

Digital currency mining requires a lot of electric power and the power rates differ in every state says CESCO.

Source: Cointelegraph
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15 December 2017

US ISIS Supporter Nabbed for Sending $150k In Laundered Crypto To Syria - Johntechservice

US ISIS Supporter Caught Sending $150k In Laundered Crypto To Syria.

US ISIS Supporter Caught Sending $150k In Laundered Crypto To Syria

Long Island, New York: a girl is facing up to a hundred and ten years in jail when making an attempt to send $150,000 in Bitcoin and altcoins to ISIS.
The new york Post according however Zoobia Shahnaz fooled banks into giving her loans and credit cards, that she then wont topurchase cryptocurrencies. The loan Shahnaz secured amounted to $22,500, whereas many credit cards contributed to an additional$62,000 in cryptocurrency sent abroad to support the FTO.

RECOMMENDED:Bloomberg Adds Ethereum, Ripple and Litecoin to Their Terminal

Shahnaz, a United States subject, antecedently worked as a research lab technician in a very Manhattan hospital. Last year she traveled to Jordan to figure with the Syrian yank Medical Society as a volunteer medic in Syrian expatriate camps wherever, in step with court documents, ISIS had “significant influence.”

In July of this year, the ISIS supporter was stopped and questioned in President Kennedy airdrome, apparently on her thanks to Syria and prevented from boarding. She was then inactive this Wed and charged with bank fraud and multiple counts of cash lavation, Acting​ ​US professional St. Bridget Rohde same in a very statement from the Department of Justice (DOJ) on Th.

The Justice printed Shahnaz’s activities as follows:

“...The suspect defrauded various money establishments and obtained over $85,000 in illicit issue, that she regenerate to Bitcoin and alternative cryptocurrencies. She then laundered and transferred the funds out of the country to support the Moslem State of Irak and al-Sham [ISIS]”

The same statement claims that Shahnaz was prevented from accomplishing her goals in supporting ISIS, although to what extent remains unclear. within the statement, the Federal Bureau of Investigation Assistant Director-in-Charge William F. Sweeney triumphantly stated:

RECOMMENDED: Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, Dash Price Analysis December 2017

“The Federal Bureau of Investigation ny Joint act of terrorism Task Force unbroken this girl from her dangerous and probably deadly goal. we are going to do all we will to prevent following person hoping to try and do constant.”

According to the statement, if guilty, Shahnaz faces a most of thirty years for the bank fraud charge and twenty years on every hidingcount.

Crypto’s PR woesThe events area unit a blow to Bitcoin proponents, WHO are making an attempt to defend the cryptocurrency’s name from its birth. Bitcoin skeptics often claim that the cryptocurrency permits illicit activities, as well as hiding and support of act of terrorism.

In terms of act of terrorism, analysts have found that cryptocurrency doesn't play a significant role in funding terrorist organizations. However, Shahnaz’s case, although isolated, definitely works against cryptocurrency’s name.

Following the attacks in Europe this Summer, the eu Union is seeking to grasp the extent to that crypto is involved in funding terrorist teams, and probably to decrease the namelessness of cryptocurrency transactions the maximum amount as attainable.

Source: Cointelegraph
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Bloomberg Adds Ethereum, Ripple and Litecoin to Their Terminal - Johntechservice

Bloomberg Adds Ethereum, Ripple and Litecoin to Their Terminal as they Boom.

Ripple (XRP) has hit Brobdingnagian new incomparable highs because the altcoin joins Ethereum (ETH) and Litecoin (LTC) in debuting on Bloomberg Terminals.

News that Bloomberg had adscititious the 3 cryptocurrency assets to its benchmark value hunter sent XRP soaring to nearly $0.90 per coin - a rise of virtually three hundred p.c in only 3 days.

The publication’s journalist liliaceous plant Katz confirmed the additions weekday.

This week has seen altcoins broadly speaking return to form after many weeks of intense capitalist attention on Bitcoin, that additionallyhit new incomparable highs Friday of virtually $17,900.

ETH and LTC have surpassed short-run expectations in recent days, rising to on top of $750 and $300 severally.

Bloomberg Adds Ethereum, Ripple and Litecoin

READ ALSO: Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, Dash Price Analysis December 2017

In addition, Dash nearly claimed the $1,000 tag before correcting down towards $900, all assets following within the steps of Monero, thatsuddenly rallied to a few times its value over the past period.

Markets square measure possible set to check more flux into and out of Bitcoin over the approaching weeks as a number of onerousforks create their debut, investors keen to access duplicate balances tradeable on exchanges.

Super Bitcoin control its network snap in the week, whereas Bitcoin noble metal, Bitcoin God and Bitcoin money and are attributable todo thus before the top of the year.

Bitcoin Silver and Bitcoin metallic element are planned, whereas Bitcoin Diamond futures square measure already being caterpillar-tracked on Coinmarketcap.
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Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, Dash Price Analysis December 2017 - Johntechservice

Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, Dash December Price Analysis 

Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, Dash Price Analysis December 2017

Bitcoin futures area unit a reality. will we tend to before long see Bitcoin ETFs as well? Why not? A Bitcoin ETF can facilitate the plenty, and therefore the institutional investors take a foothold within the new plus category. the extra scrutiny and therefore the rules that keep company with these new offerings will boost the arrogance in cryptocurrencies.

Now, even political heads area unit warning that this industry could also be on its reply.

However, whereas these developments area unit positive for the longer term of bitcoins and altcoins, it's still progressing to be a roller coaster ride to the ultimate destination. Therefore, we tend to believe that borrowing cash to trade or mortgaging the house to take a position in bitcoins isn't an honest strategy.

RECOMMENDED:Bitcoin Price Exceeds $9,500

While the long-run mechanical phenomenon could also be up, the intermittent falls are steep and may cause lots of pain to those whoarea unit card-playing the house to change cryptocurrencies. Therefore, solely trade with the cash that you just will afford to lose and trade safely.

After the sharp rally, Ripple is back to the fourth find time for terms of market capitalisation. as a result of the frequent changes within thepositioning of the highest seven cryptocurrencies, we've got set to incorporate all the seven in our analysis to learn our readers.

After the large run, the traders area unit taking an occasion, that could be a healthy sign. If the digital currency consolidates close to the time period highs, likelihood is that that the bulls can once more conceive to jailbreak of $16,700.

If palmy, Bitcoin can resume its uptrend and move towards its pattern target of $24,291.58.

On the opposite hand, a failure to sustain higher than the highs is probably going to encourage the bears, UN agency can push the virtual currency towards the 20-day EMA.

At this levels, we tend to don’t notice any engaging setup, hence, we tend to don't advocate any trade thereon straight away.

ETH/USDEthereum skint through our target objective of $652 and rose to a high of $784.77. that's a pointy rally of eighty nine at intervals seven days.


Currently, the digital currency has fashioned a Doji holder pattern, that shows fatigue.

We expect the cryptocurrency to pullback to $643.52 and $599.89, that area unit thirty eight.2% and five hundredth Fibonacci retracement levels of the rally.

The next trade originated can type once the pullback ends or if Ethereum breaks dead set time period highs yet again. Until then, we tend to shall wait.

BCH/USDWe had counseled an extended position on Bitcoin money at $1500 in our previous analysis. Our target objective of $1750 has been exceeded.

BCH price analysis December 2017

While the digital currency skint out of the higher finish of the vary, it couldn't sustain the upper levels. Therefore, traders will book five hundredth profits at this levels and lift the stop loss to breakeven on the remaining position. If Bitcoin money will sustain higher than the higher finish of the vary, it's possible to rally towards its next target objective of $2387.

If the bulls manage to interrupt out of $2387, then a retest of the highs is additionally attainable. Traders ought to book complete profits if the digital currency manages to achieve $2700 levels.

However, if the bulls fail to sustain higher than $1758, the virtual currency can stay vary certain.

XRP/USDRipple is skyrocketing when breaking out of the long-run consolidation. It had kicked off an identical rally in end-April to mid-May of this year.

XRP Price Analysis December 2017

The pattern target on the jailbreak of the vary of $0.12700 to $0.39887 was $0.67074. The digital currency has already up higher than its minimum target objective.

We believe that Ripple can currently face goodly resistance at the $0.86 mark. Therefore, traders UN agency area unit long from lower levels ought to book partial profits at this levels and hold the remainder with an acceptable stop-loss.

RECOMMENDED: Bank of India (RBI) to Ban use of Bitcoin and Ethereum

We will be ready to draw support levels solely when the digital currency stops rising.

IOTA/USDWe were watching for a jailbreak of the pennant formation to initiate long positions. However, the digital currency skint down of the pattern, that could be a pessimistic development.

We, now, expect the bears to require hold of the chance and push the digital currency towards the 20-day EMA, that is near the five hundred Fibonacci retracement of the rally.

IOTA Price Analysis December 2017

Unless IOTA breaks out of the downtrend line, it'll stay harassed.

We shall sit up for the autumn to finish before recommending any recent long positions.

In our previous analysis, we tend to had mentioned that the amount between $312 and $340 is probably going to act as a robustresistance which is what happened.

LTC Price Analysis December 2017

Litecoin started a pullback when reaching a high of $342.237.
The pullback has sturdy support at $243.86 and $213.473, that area unit thirty eight.2 p.c and fifty p.c Fibonacci retracement levels of the rally from $84.708 to $342.237.

After such a robust rally, we tend to might even see a amount of consolidation or correction. Therefore, we tend to don’t advise any recentlong positions at this levels.

DASH/USDDash skint out of the overhead resistance of $815 on Gregorian calendar month twelve. whereas we tend to had expected a fast rally to $979 levels, the up move is facing commerce higher than $900 levels.

DASH Price Analysis December 2017

If traders have purchased long positions supported our optimistic outlook within the previous analysis, please book five hundredth profits at this levels and lift the stop-loss on the remainder to $736.

The rally is wanting tired. Unless we tend to see a pointy up move at intervals a handful of days, likelihood is that that the digital currency can fall back below $815 yet again. Therefore, we tend to propose to cut back the chance.

However, on the side, if Dash breaks out of $979, it's possible to rally to $1199.01. Hence, we tend to area unit keeping five hundredthpositions open.

BTC/USDAccording to our previous analysis, for the past two days, the daily range in Bitcoin has shrunk.

BTC Price Analysis December 2017

Source: Cointelegrap
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27 November 2017

Bitcoin Price Exceeds $9,500

Bitcoin Price Exceeds $9,500

Bitcoin Price and value has massively increased this weekend with prices exceeding $9,500 on extremely strong volume.

It seems that the market rise to this point has been the result of increasing adoption among individuals, as well as hopes of institutional increases. The rise in Coinbase user accounts (nearly 125,000 per day), as well as the hope for futures trading from two Chicago-based markets (CME and CBOE), appear to be the driving factors in the recent jump.

ALSO READ: Bank of India (RBI) to Ban use of Bitcoin and Ethereum

Bitcoin Continues Running - Now Past $9,500

The market has been pushed by a number of critical news stories regarding the mainstream adoption of the cryptocurrency.

What will Bitcoin future Price Value Look Like?

As the market has continued to run, the fears of a bubble in Bitcoin price have continued. Nevertheless, many investors see a substantial future increase coming as institutional markets begin to open.

ALSO READ: Bitcoin Records 10 Percent Orders at Austria’s Yipbee - Johntechservice

Additionally, increasing stability within the Bitcoin network will likely produce greater levels of adoption, both as a store of value and as a payment network. New payment platforms and businesses willing to accept Bitcoin will move the market forward as well.

Source: Cointelegraph
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7 November 2017

Bank of India (RBI) to Ban use of Bitcoin and Ethereum

Bank of India bans bitcoin, ethereum, cryptocurrencies

India ’s central bank, Reserve Bank of India (RBI), has previously announced its plan to ban the use of virtual currencies as a form of payment across the country.

The central bank, however, has shown its support to Blockchain, which is the technology behind the cryptocurrencies.

ALSO READ: Bitcoin, Litecoin Exchange Platform Currently Under DDOS Attack

At a conference held in Mumbai, India on Nov. 6, 2017, RBI executive director, S Ganesh Kumar, has hinted that the digital currencies such as Bitcoin and Ethereum will not be allowed to be legally used across the country.

“Our current position on Bitcoins is that we will not be using it for any payments and settlements…though the technology underlying cryptocurrencies will not end.”

Positive outlook on Blockchain technology
Despite SBI’s rejection of the cryptocurrencies, the central bank seems to see significant promise in the technology used to power the digital currencies called Blockchain.

 In his comments, Kumar has stated that the technology showed great potential in the financial sector.

As a proof of Blockchain’s great promise,
several banks in India such as ICICI Bank, Kotak Mahindra Bank and Axis Bank are already using Blockchain in such applications as overseas transactions and international remittances.

India’s existing digital currency market

The cryptocurrency market in India accounts for just a very small portion of the country’s financial sector.

Digital currencies are mainly used as an investment option. The leading virtual currency Bitcoin is accepted as a form of payment at only a few restaurants, and several cryptocurrency exchanges allow users to use the digital currencies as payments for books or movie tickets.
However, the possible ban of the digital currencies in India has displeased the players in the country’s virtual currency trade. According to Bitcoin exchange Zebpay cofounder Sandeep Goenka, they will try to educate the government about the cryptocurrencies.

Source: Cointelegraph
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21 June 2017

Bitcoin Records 10 Percent Orders at Austria’s Yipbee - Johntechservice

An Austrian startup now receives 10 percent of its orders in Bitcoin by letting private consumers purchase goods from industry wholesalers Yipbee 

Bitcoin Accounts for 10 Percent of Orders at Austria’s Yipbee

Client base increases and a 15-20 percent monthly growth have peaked investor interest, with the business expanding into Eastern Europe over the next year.

Yipbee this month, announced an investment round worth a suspected minimum of €1 mln, offers payments in euros and Bitcoin via BitPay.

Client base increases and a 15-20 percent monthly growth have peaked investor interest, with the business expanding into Eastern Europe over the next year.

“In March we turned a net profit and are growing 15-20% every month,” Founder Umut Kivrak told German publication Gruenderszene, which reported on the investment.

Yipbee is a still relatively rare example of a more “mainstream” service operating in Europe recording a healthy turnover in the virtual currency.

Kivrak continued that he “noticed quite quickly” that there was a “relatively large group” of potential clients interested in using Bitcoin as a currency over an investment tool.

Last month, major online retailer Alza, based in the Czech Republic, began accepting Bitcoin payments across its network.

BitPay is used, as is common practice among businesses experimenting with cryptocurrency payments, to convert order totals directly to euros.

Visit this link for More Bitcoin News news
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8 June 2017

Bitcoin, Litecoin Exchange Platform Currently Under DDOS Attack

BTC-E announced tweeted on June 6, 2017 about their system overload experience. Due to that, Bitcoin/Litecoin exchange platform has been experiencing an usually slowdown in its Bitcoin network system causing delay in confirming the transactions.

BTC-E Consecutive DDOS Attacks Report

BTC-E company the next day at 5:04 am, the revealed in a follow up tweet announcement that it is under a DDOS attack.

This was most likely due to the congestion that the network received when the there was an overload in the system. Naturally, a lot of BTC-E consumers did not react well to the news as this news was received with a lot of negative feedback from the followers. So far, no news has been made as to whether or not the problem has been fixed or not as BTC-E hasn’t made any follow up tweets after the last one.

With regard to the most recent case, followers and investors are still waiting for a response of BTC-E regarding this incident. These two incidents illustrate that the Bitcoin network system is still quite unstable with regard to ability to process information.

Such incident is not new as the platform experienced a similar back in January 2017 wherein the platform went offline for several hours because of a DDOS attack.

The site was offline for an estimated four hours which sparked a lot of negative feedback from the followers of BTC-E. This incident was due to a sharp increase in the Bitcoin prices in both the CNY and USD markets. On the same month in 2016 , the platform also experienced a similar attack caused the operations for several hours.

Security concerns

When dealing with currency and money, security is a top priority because people’s money is in the system. Without a proper security system that can ensure the safety of the people’s money, companies such as BTC-E may receive a lot of backlash not only from investors but also organizations and institutes that regulate this sector.

It is for this reason that security is extremely important in these types of platforms.

Source: Cointelegraph
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2 June 2017

Greek Lawyer Tops Financial Times Legal Innovators in Europe List

Financial Times’ list of top legal innovators in Europe has been released and a Greek lawyer has made the list for his use of Bitcoin during the country’s financial crisis.

"Panos Giannissis came second on a list of eight finalists shortlisted by the publication, which praised his use of the virtual currency when capital controls appeared in Greece two years ago."

Panos Giannissis last year,helped clients to stay in business by converting some of their working capital to Bitcoin, the virtual currency, when capital controls were imposed during the Greek financial crisis.

“After the Capital Controls were imposed, the deal was activated and his clients continued to receive their supplies as usually, while their suppliers were covered by the Bitcoin collateral.”

“...He negotiated a deal with his clients’ suppliers from abroad to accept Bitcoin as collateral to back importation of supplies in case his clients would not be able to make payments in fiat money,” an accompanying press release further explains.

Source: Cointelegraph
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1 June 2017

Bitcoin Recorded More USD Gain in May Than ‘Gox Month’ November 2013

Bitcoin recorded over $960 last month which is it's highest USD growth ever achieved.

Bitcoin Gained More USD in May Than ‘Gox Month’ November 2013

The timing of price activity was crucial, it could be argued. At the start of the last week in May, Bitcoin suddenly declined to below $2,000, losing more than $1,000 of its peak value in 24 hours.

Since then, a correction has been underway, with one coin worth around $2,300 as the clock ticked over into June.

Despite volatility and a slump at the end of the month, May beat out November 2013 to become Bitcoin’s most successful month in dollars. That month, at the height of Mt. Gox’s fame, Bitcoin climbed $860, data reported on Reddit shows.

However, the action pales in comparison to that witnessed by the Ethereum (ETH) camp. A price of around $78 at the start of May ended up as $220 one month later, despite altcoin rising and falling in line with Bitcoin towards the end of the monitoring period.

according to data from Coinmarketcap, four weeks ago, bitcoin prices stood at around $1,360.

Source: Cointelegraph
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30 May 2017

Ethereum Current Price Analysis

 Ethereum’s price fall of more than 50 percent is said to be caused by Large-volume speculation. Now the question everyone is asking is these " Is the price going to fall again?".

Ethereum price analysis 2017

Profitable situation for the bears

Recently, over 80 companies have joined the Enterprise Ethereum Alliance (EEA) and this is definitely good news for the Ethereum community. Many understand this and expect a consequent reaction in the price. But news cannot be a decisive factor in trends. That is exactly because the current situation is profitable for the people looking to take their profits. The large volume of buy deals at the peak of the trend is a great opportunity for big sell deals.

Ethereum analysis 2017

Ethereum Long-term Downward Rebound

Ethereum price has rebounded from the $100 area, given that a long-term reversal has not yet taken place. The entire fall can be considered a correction towards the entire upward trend from $6. The long-term uptrend has ended, which can result in a protracted flat. In regards to the current growth from $97, we can point to a level near $132, where the highest demand is present. Given a new fall, Ethereum price is likely to stop at that resistance line. If a downward reversal doesn’t take place, further growth will have better chances.

Source: Cointelegraph
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24 May 2017

Bitcoin Portfolio Protection Mandatory - CNBC

According to report which we received last week from CNBC, it says that investors should be looking into double assets to avoid US economic uncertainty and financial instability: overseas equities and digital gold Bitcoin .

Bitcoin Portfolio Protection Mandatory - CNBC

Boris Schlossberg of BK Asset Management recently at CNBC’s Trading Nation stated the need of maintaining Bitcoin in a portfolio as a mandatory asset to hedge against an inevitable global economic struggle.

More so, despite raising an important discussion point in regard to the rising adoption of Bitcoin as a safe haven asset, CNBC placed an emphasis on the rejection of the Winklevoss twins’ Bitcoin ETF COIN earlier this year, even though the market has completely recovered from the SEC’s decision after the realization that Bitcoin investors do not require another layer of regulatory intermediary to facilitate the trading of Bitcoin.

Also, at the time the SEC outlined that the lack of overseas regulation on Bitcoin was the reason for its rejection when it clearly was not the case. Countries including China, Japan, the Philippines and South Korea have tighter Know Your Customer (KYC) and Anti-Money Laundering (AML) policies set in place.

 “CNBC Associate Producer Rebecca Ungarino noted that "Bitcoin, prone to frequent fickle swings in value given its unregulated nature, has soared to all-time highs this year as the currency has become more widely accepted as a form of payment. Still, the Securities and Exchange Commission earlier this year rejected a proposed bitcoin exchange-traded fund,” 
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