Bitcoin News

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.

Bitcoin Symbol: ₿ Bitcoin Ticker: BTC,XBT

Canadian Court Rules Bitcoin ATM Not Responsible for Fraud Victim’s Loss

As reported by CBC, a Canadian woman was a victim of telephone fraud in February of this year. As a result, she bought $62,500 worth of bitcoin and sent it to the fraudster, who she believed was the Canada Revenue Agency. To recoup her losses, the victim sued Bitcoin ATM company “Instacoin ATM Canada Inc.” for $62,500, hoping to get the money she deposited into the machine back. Yesterday, the...

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Senate Hearing: “Is Bitcoin Perfect? No, but Neither Was Email in 1972”

This week, members of the Senate Banking Committee joined to hear both critics and advocates of cryptocurrency. Crypto critic and NYU economist Nouriel Roubini told the committee that cryptocurrency was a scam and that blockchain technology was overhyped. Roubini seemed to attract the most media attention, but his opposition also had some very interesting things. Peter Van Valkenburgh, crypto lawyer and Director of Research at Coin Center spoke on behalf...

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World Bank President – Blockchain Technology Has Huge Potential

Jim Yong Kim, the president of the World Bank, has recently stated he believes blockchain technology has “huge potential,” and that embracing the technology is essential for the organization’s goals. His words came during the International Monetary Fund (IMF) and the World Banks’ Annual Meetings in Bali and were filmed by CNBC. They came as he mentioned the World Bank’s mission is to end poverty and boost prosperity. Kim noted...

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Jack Ma – I Pay Special Attention to Bitcoin And Blockchain to Create Cashless Society

Jack Ma, the chairman of Alibaba and $150 billion China-based financial conglomerate Ant Financial, has said in a recent speech that he pays special attention to Bitcoin and blockchain technology, and the potential of establishing a cashless society. Although Ma is still studying the fundamental value Bitcoin and other major cryptocurrencies bring to the market, he emphasized that blockchain technology as a whole is a powerful innovation that could enable...

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Spanish Bitcoin Miner Plans 300 MW Solar Plant

Cryptosolartech, a Spanish cryptocurrency mining firm that uses renewable energy for its procedures, has engaged a Chinese maker of photovoltaic solar panels to put up a solar farm with a generation capacity of 300 MW. Risen Energy Spain, the Spanish subsidiary of Chinese firm Risen Energy, is partnering with Cryptosolartech to build the solar farm in the Southern European country with a view of using the electricity produced from the...

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Seoul Mayor Pledged $53.39 Million Fund for Blockchain Districts

A South Korean politician has pledged a $53.39 million fund to develop blockchain regions in Seoul, local media reported. Park Won-soon, who is the mayor of the South Korean capital city, said their government would create two business complexes to settle 200 blockchain-related companies by 2021. The districts would also serve the purpose of training 730 experts in the field over the course of the next five years. “There’s no doubt...

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U.S. Court Cements Commodity Verdict On Bitcoin After Landmark Ruling

  A US court has formally dismissed an attempt to stop the country’s commodities regulator prosecuting an alleged cryptocurrency fraudster, ruling that such assets are commodities. C.F.T.C Can Legislate Within Bitcoin In a press release October 3, Senior Judge Rya W. Zobel of the U.S. District Court for the District of Massachusetts ruled in favor of the Commodity Futures Trading Commission (C.F.T.C) in a case involving now-defunct cryptocurrency My Big...

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Bitcoin Price Stabilize Analysts Optimistic About Parabolic Breakout

Over the past 24 hours, the Bitcoin price has stabilized in the mid-$6,000 regions. BTC eyed a breakout at a major resistance level at $6,800 but has slightly declined to the range of $6,550 to $6,600. Most major cryptocurrencies including Ethereum (ETH), Ripple (XRP), and EOS have recorded fairly large losses in the range of 3 to 5 percent on October 1, failing to sustain momentum against both Bitcoin and...

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Blinded By The Bitcoin Meteor Or Why Top Economists Are Wrong About Bitcoin

  A long list of award-winning economists has railed against Bitcoin and cryptocurrency, predicting spectacular failure. Nobel prize winner Paul Krugman has predicted the total collapse of Bitcoin because of its deflationary nature, going as far to call it “EVIL.”   Another winner of the Nobel prize for economics and a professor at Yale University, Robert Shiller, compared Bitcoin to failed currency experiments of the past. Ken Rogoff, former IMF...

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Bitcoin Slightly Retraces to $6500 After A Strong Support & Rally

After rising to $6,700 on September 27, the price of Bitcoin has slightly retraced to $6,500. Ripple (XRP) still recorded a decent gain of 5 percent, extending its momentum. The volume of the crypto market has increased from $13 billion to $15 billion in the past week, demonstrating an increase in activity in the market. Interestingly, in the past 24 hours, the volume of Ethereum (ETH) has risen substantially to...

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