Bitcoin

Chinese bitcoin mining giant sets up Swiss hub

One of the world’s largest bitcoin miners is setting up a hub for European operations in Switzerland, a person familiar with company has confirmed to swissinfo.ch. The Chinese firm Bitmain Technologies is setting up in Zug just as the Chinese authorities move to shut down cryptocurrency miners. Bitmain Technologiesexternal link builds …

Bitcoin

Bitcoin Prices Firmly Above $4000 Without China

Bitcoin traders have got a couple of things right lately. The digital currency can survive and thrive without China. And government regulation is positive, not negative, for the future of Bitcoin and other major cryptocurrencies. It adds credibility to the market, while limiting the supply of new coin offerings. Most …

News

$4,000: Bitcoin’s Price Shrugs Off China Exchange News

Bitcoin’s price has bounced back above $4,000 following market losses linked to the recent regulatory crackdown in China. After China’s early September ban on initial coin offerings (ICOS), news on September 15 that bitcoin exchanges were shutting down following directives from government officials sparked a market drop that sent prices reeling to a low of $2,981. Since then, …

Bitcoin

Wall Street Analyst Sees Bitcoin Surging to $25k Despite China Exchange Ban

Major Wall Street analyst Thomas Lee, the co-founder Fundstrat Global Advisors, appeared on CNBC’s Fast Money and reaffirmed his short-term price target of $25,000, despite the nationwide ban on bitcoin exchanges issued by the Chinese government and its financial regulators. By the end of October, merely less than three weeks …

Bitcoin

U.S. Bill Would Ease Bitcoin Tax Regulations for Small Transactions

Two U.S. congressional representatives have introduced a bill that would reduce bitcoin tax reporting requirements. If the bill is signed into law, U.S. bitcoin users would no longer have to report transactions worth less than $600. The Cryptocurrency Tax Fairness Act of 2017, introduced by Congressional Blockchain Caucus co-chairs Rep. Jared Polis (D-CO) …

Bitcoin
1

What is an ICO, and why is China’s central bank banning it?

An initial coin offering (ICO) is a form of crowd-sourced fundraising that uses cryptocurrencies. Also known as digital currencies, or virtual currencies, cryptocurrencies work as a medium of exchange using encryption to secure transactions and for creating (known as mining) additional units. Cryptocurrencies, the best known of which is the …

News

Bitcoin price yo-yos amid a China clampdown

After a brutal week, bitcoin finally got a bounce. The controversial crypto-currency yo-yoed dramatically on Friday, briefly falling below $3,000 to as low as $2,985 in the morning before hustling in the afternoon to soar as high as $3,819 as investors digested news of a clampdown by the Chinese government on …

Bitcoin

Can Bitcoin Prices Reach $5000 Again Without China?

After falling for most of the week like a stone, Bitcoin, the “people’s currency,” made a sharp turn upwards on Friday and early Saturday morning, gaining close to 12 percent within 24 hours. Other cryptocurrencies followed suit. Ethereum also gained close to 12 percent, while Litecoin fared even better gaining …

Bitcoin

Courting Bitcoin? Nebraska Ethics Board Gives Lawyers OK to Accept

Lawyers in Nebraska can now accept cryptocurrency as payment, according to a new advisory opinion published by an ethics committee appointed by the state’s supreme court. The Lawyers’ Advisory Committee is an eight-member body that responds to queries from lawyers in Nebraska, weighing them against the state’s Rules of Professional Conduct. The opinion …

Bitcoin

Bitcoin Beware – The Empire May Strike Back

It has been a tough week for Bitcoin. China continued to crack down on virtual currencies, prompting a major Bitcoin exchange to shut down. And Jamie Dimon, head of JP Morgan, called Bitcoin a fraud and said it was only “fit for use by drug dealers, murderers, and people living in places such …

Bitcoin

Bitcoin Is Plummeting After an Exchange in China Said It Would Halt Trading

Chinese bitcoin exchange BTCChina said on Thursday that it would stop all trading from Sept. 30, setting off a further slide in the value of the cryptocurrency that left it over 30 percent away from the record highs it hit earlier in the month. China has boomed as a cryptocurrency …

Bitcoin
134

Bitcoin Price Drops Below $3,500, But Is Relief Rally In Sight?

The bitcoin-US dollar exchange (BTC/USD) rate fell to a fresh four-week low of $3,413 this morning following reports that Shanghai-based bitcoin exchange BTCC will shut down its domestic trading operations effective September 30. As such, the announcement is the latest that supports the rumor regulators are preparing a formal ban on …

Bitcoin

The first of China’s top bitcoin exchanges has announced it will suspend trading

A number of China’s top bitcoin exchanges are preparing to suspend their services following instructions from the government. BTC China, one of the country’s top three, became the first to officially make the move after it announced today that will stop all trading for China-based customers from September 30. The …

Bitcoin
99

Bitcoin price falls below $4,000 on worries about China crackdown

Bitcoin fell below $4,000 on Wednesday with negative comments from major business leaders about the cryptocurrency and the threat of a regulatory crackdown, unnerving investors. The digital currency fell as low as $3,907.26 on Wednesday, before recovering slightly to trade around the $4,050 mark, according to data from industry website CoinDesk. …

Bitcoin

Collateral Damage From The Inevitable Bitcoin Crash

Bitcoin is well off its all-time high, due in large part to moves by China to shut down domestic Bitcoin exchanges. Also putting pressure on Bitcoin: The People’s Bank of China recently banned initial coin offerings (ICO), thus outlawing the practice of creating and selling cryptocurrency to investors to finance startup projects …

Bitcoin

Bitcoin Is Trading Under $4150 Level Amid Rumors About China’s Ban of Bitcoin Exchanges

Contested reports that China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges annulling the whole country’s exchange ecosystem made markets for bitcoin and other cryptocurrencies fall over the course of September 8th till today. The entire buzz is caused by Chinese news source Caixin, which …

Bitcoin

China Is Said to Ban Bitcoin Exchanges While Allowing OTC Trades

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week. The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked …

Bitcoin

China Ban on ICO is Temporary, Licensing to be Introduced: Official

During an interview with state-owned national television network CCTV-13, Hu Bing, a researcher at the Institute of Finance and Banking, a Chinese government-supported academic research organization, claimed that the government’s ban on initial coin offerings (ICOs) is only temporary. The Chinese Academy of Social Sciences and its Institute of Finance and Banking are affiliated …