In the past several weeks, only a handful of Wall Street financial institutions have commented on bitcoin. After numerous requests from clients, Goldman Sachs has finally issued an early assessment on the virtual currency. What does it think about the cryptocurrency? It’s hard to tell … [Read more...]
DFS, American Express say bitcoin isn’t a threat to payment network
The most ardent bitcoin holders see a bitcoin industry that takes down the traditional payment network outlets, such as Visa, MasterCard, American Express and an array of others. In fact, because of the low-cost involved in transactions, bitcoiners think it’s inevitable. However, the … [Read more...]
Why are governments and central banks so quick to dismiss digital currencies
The concept behind competing currencies isn't necessarily a new one. The topic has been debated between the greatest minds in the world, but it was never settled. Today, with the growing popularity of bitcoin (BTC) and the libertarians’ dedication to precious metals, the conversation … [Read more...]
Despite rumors Massachusetts transit has no plans to accept bitcoin for T passes
Media outlets have been buzzing over the first bitcoin (BTC) ATM to be installed in the United States. Many have rejoiced at the prospect of these machines being established all over the country and become easily accessible much like conventional ATMs are. However, not every entity is … [Read more...]
Jack Lew warns of looming bitcoin regulations
Speaking at the World Economic Forum in Davos, Switzerland last month, United States Treasury Secretary Jack Lew warned that regulations of bitcoin (BTC) could be instituted by the federal government soon. Lew argued that authorities cannot permit bitcoin to become a tool to fund … [Read more...]
Bitcoin speculators purchasing rights to Mtgox accounts amid price decline
Is this the last great buying opportunity or a signal that bitcoiners need to help shut down the Tokyo-based Mt. Gox exchange through the tools of the market? The company has repeatedly stated that it's working to fix a software glitch, which means users have been unable to withdraw … [Read more...]
Bank of Montreal shuts down bitcoin-related business accounts in Canada
The Bank of Montreal (BMO) has become the first financial institution in Canada to take action against bitcoin (BTC). It was confirmed by Cointrader co-founder and CTO Paul Szczesny in a press release that the bank would be closing down all bitcoin-related business accounts across the … [Read more...]
PayPal’s new ‘digital wallet’ may accept bitcoin
Is bitcoin (BTC) included in PayPal's proposed 'digital wallet' with 'multiple types of currency'? In the past several weeks, reports have surfaced that indicate that the two companies view bitcoin platforms as potential competitors. According to one report released earlier this … [Read more...]
Have bitcoin speculators come back to earth or is the ‘To the Moon’ sentiment still shared
The value of bitcoin (BTC) has been subjected to both discourse and speculation. Since bitcoin made its triumphant jump from a few dollars to as high as $1,200 late last year – it's now trading at around the $650 mark – many have pondered where the price of bitcoin might be in the … [Read more...]
A bitcoin economy would lead to ‘unrest’: David Yermack, professor of finance
Is bitcoin (BTC) a revolutionary currency on the verge of taking down the financial establishment or is it an electronic payments system that is on the cusp of competing and defeating the likes of Visa and PayPal? That's the debate that is going on right now in Silicon Valley and in … [Read more...]
Bitcoin is a disruptive technology that happens to be used by criminals
The reputation that Bitcoin (BTC) has garnered over the past year has been a bag of mixed sentiment. In one news report, there will be information regarding to the widespread adoption by merchants and technology enthusiasts calling it the wave of the future. In another news … [Read more...]
National Bank of Ukraine (NBU) issues warning on dangers associated with bitcoin
Another central bank has come out against Bitcoin (BTC). This time, the National Bank of Ukraine (NBU) issued a statement that informed its citizens about the usual risks of bitcoin: volatility, not guaranteed by a governmental body and potential theft involved with owning the digital … [Read more...]
Dogecoin founder isn’t interested in $500,000 VC funding offer
Over the past two months, dogecoin, a cryptocurrency akin to bitcoin but is inflationary rather than deflationary, has grown in immense popularity. It has helped Olympic athletes achieve their dreams by competing in the 2014 Sochi Winter Olympic Games, while holding fundraisers to … [Read more...]
Bitcoin bubble or new all time high with malleability resolution – you be the judge
Bitcoin (BTC) has undergone a tumultuous two weeks after a few cryptocurrency exchanges reported technical malfunctions, particularly Mt. Gox. The value of bitcoin has fallen to as low $102 following a flash crash and has since steadily stayed between $600 and $650 per one bitcoin. … [Read more...]
Greece issues a warning stating Bitcoin is not protected by the government
Greece, the nation that has experienced a near economic meltdown, has finally broken its silence on the matter of bitcoin (BTC) and other virtual currencies. The central bank pretty much repeated what other financial authorities have iterated before: beware. This week, the Bank of … [Read more...]
Anti-money laundering legislation is deterring gold dealers from accepting bitcoin as payment
Due to the uncertainty regarding federal and state rules and regulations, precious metal dealers are cautious about accepting bitcoin as a method of payment. Industry insiders tell the International Business Times that questions over anti-money laundering legislation is a major … [Read more...]
Bitcoin desperately needs a transparent US exchange – could government regulation help
This week, bitcoin (BTC) has dominated the headlines after numerous digital currency exchanges have shut down their services after experiencing denial of service (DOS) attacks. This has caused the value of bitcoin to drop to less than $650 – there was also a flash crash that saw … [Read more...]
2014 Canadian federal budget addresses ’emerging risks’ like bitcoin
Canadian Finance Minister Jim Flaherty unveiled the federal budget for 2014 on Tuesday. Although it isn't believed to be a revolutionary or game changing federal budget, the Conservatives revealed plans to tighten rules and regulations in order to combat money laundering and terrorism … [Read more...]
Banksters (JPMorgan) continue their assault to undermine Bitcoin to no avail
It's understandable: bitcoin could very well be competition to Visa, PayPal and traditional fiat currency. That’s why those on Wall Street and central banking officials have been on the defensive in the past few months when it comes to cryptocurrencies. From Jamie Dimon to Alan … [Read more...]
New York hedge fund generates $5 million in bitcoin deposits in three days, “expect to multiply tenfold”
Financial institutions across the globe are beginning to adopt bitcoin (BTC) and incorporate the digital currency into its business model. This is evident after NYSO HEDGE, a hedge fund located in New York City, announced that it has accepted approximately $5.4 million in bitcoin … [Read more...]
