Bitcoin 

Buy Gold as Bitcoin Price Rises, Central Banks Cut Rates

Veteran frontier markets investor Mark Mobius suggested that cryptocurrencies will boost the price of gold.  Canadian finance news outlet BNN Bloomberg interviewed Mark Mobius on Aug. 20. The legendary investor believes cryptocurrencies will help the rise of gold. He explained:  “You have all these currencies, new currencies coming into play. […] I call them ‘psycho currencies,’ because it’s a matter of faith whether you believe in Bitcoin or any of the other cyber-currencies. I think with the rise of that, there’s going to be a demand for real, hard assets,…

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Bitcoin 

New Bitcoin Network Hash Rate High Suggests Price Is Next

The Bitcoin (BTC) hash rate has broken yet another new all-time high, according to Aug. 19 data from monitoring resource Blockchain.com. The top coin’s hash rate has continued to break previous records throughout summer, today hitting an whopping 82.5 TH/s. Bitcoin network hash rate, 1-year chart. Source: blockchain.com Network Fundamentals The hash rate of a cryptocurrency — sometimes referred to as hashing or computing power — is a parameter that gives the measure of the number of calculations that a given network can perform each second. A higher hash rates…

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Bitcoin 

BitFlyer and Tpoint Japan Team Up to Offer Bitcoin Loyalty Program

Cryptocurrency exchange bitFlyer and technology services company Tpoint Japan announced a new partnership that allows local customers to exchange loyalty program points for Bitcoin (BTC) and earn rewards for paying in crypto. The official press release states: “As part of our mission of ‘Making the world simpler with blockchain’, we will continue to contribute to the further development of a sound virtual currency industry. Tpoint Japan aims to turn their well-known points into ‘Points for people. Points for connecting people and society.’ Participating locations include Bic Camera, Yamada Denki, H.I.S.,…

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Bitcoin 

Bitcoin Twitter Handle With 1 Million Followers Renounces Bitcoin Cash

Bitcoin’s (BTC) best-known names are currently playing a guessing game after one of the industry’s most controversial Twitter accounts changed its views overnight. @Bitcoin switches from Bitcoin.com to Bitcoin.org Multiple users, including Reddit’s r/Bitcoin Subreddit moderator, BashCo, are supplying theories to explain the behaviour of the @Bitcoin account.  @Bitcoin has almost one million followers, yet its name has formed a misnomer for years. Instead of promoting Bitcoin, the account has long maligned it in favor of altcoin Bitcoin Cash (BCH) after allegedly falling into the hands of major proponent, Roger…

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Bitcoin 

People Who Want to Control Their Capital Buy Bitcoin, Says Circle CEO

Jeremy Allaire, CEO at cryptocurrency financial services company Circle, expressed his optimism in regards to Bitcoin (BTC) being a safe haven for investors despite recent market volatility. On Aug. 19, Allaire voiced his sentiment during the CNBC’s Squawk Box. He explained:  “Clearly, a non-sovereign digital asset like bitcoin is attractive to people who are interested in moving capital into a place where they can control it themselves. That underscores a lot of interest that’s been there over time. It’s the digital gold thesis, and I think a lot of both…

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Bitcoin 

Israeli Bitcoiners Petition Banks to Disclose Crypto Policies

The Israel Bitcoin Association, a nonprofit organization that promotes the use of Bitcoin (BTC) and cryptocurrencies, has reportedly filed a freedom of information petition with a Jerusalem court. The petition purportedly seeks to require local banks to disclose their policies on money originating from digital currencies.  Local news daily Globes reported on Aug. 19 that state banks are required to report reasons for refusing transactions to the country’s central bank, the Bank of Israel. The association previously reached out to Bank of Israel, asking for clarification on the cryptocurrency policies…

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Bitcoin 

SEC Continues to Stall on BTC ETFs, All in Wait for Breakthrough

The long and uncertain road toward crypto exchange-traded funds (ETFs) being approved by the United States Securities and Exchange Commission (SEC) took its latest turn on Aug. 12, when the regulatory body once again delayed its decision on three ETF proposals. Below is a timeline of all the past and ongoing Bitcoin ETF proposals: What are ETFs?  Similar to stocks in that they are traded on exchanges, ETFs are baskets of securities. ETFs track an index or basket that are proportionately represented in the fund’s share. The development and regulation…

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Bitcoin 

Bitcoin Simply Existing Positively Impacts Monetary Policy: Research

The existence of private decentralized cryptocurrencies like Bitcoin (BTC) has a healthy impact on governments’ fiscal and regulatory policy, a new analysis contends. TThe argument was put forth in a paper published on Aug. 16 by Max Raskin (NYU School of Law), Fahad Saleh (McGill University) and David Yermack (NYU Stern), entitled “How Do Private Digital Currencies Affect Government Policy? 3 positive impacts of cryptos simply existing The analysis notes that as regards the global financial system, the question of cryptocurrencies’ influence is not confined to whether or not the…

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Bitcoin 

Japan’s Retail Giant Rakuten Officially Launches Crypto Exchange

Japanese cryptocurrency exchange Rakuten Wallet has launched trading a year after acquiring Everybody’s Bitcoin. Three trading pairs go live Confirmed in a press release on Aug. 19, Rakuten Wallet, which is a subsidiary of Japanese e-commerce giant Rakuten, said spot trading of three cryptocurrencies — Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH) — was now live.  In future, developers plan to release an app for iOS and Android, use of which will be mandatory for deposits and withdrawals.  “Customers who already have a bank account with Rakuten Bank will…

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Bitcoin 

Coinbase and Barclays Part Ways, Will UK Users Be Affected?

It is being reported that Barclays, the London-based global bank, recently stopped banking for Coinbase, the United States-based crypto exchange. Coinbase reportedly found a quick replacement in the form of another United Kingdom-based establishment, ClearBank.  While Barclays connected San Francisco-based Coinbase to the U.K. Faster Payments Scheme (FPS), enabling instant withdrawals and deposits of British pounds at the exchange, ClearBank won’t offer the exchange the same service until at least the end of Q3 2019. Deposits and withdrawals in pounds for Coinbase’s U.K. customers, which once took seconds, will for…

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