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Monday, October 9, 2017

Cryptocurrency News for 9 Oct 2017


Bitcoin Price Rises to $4,450 Despite Looming SegWit2x Fork

Bitcoin Price Rises to $4,450 Despite Looming SegWit2x Fork


It has to be said, there are hardly any boring days in the world of cryptocurrency. Even when the Bitcoin price goes down, there will always be currencies trying to buck the trend. When the Bitcoin price goes up, however, virtually all other major currencies will thrive as a result. That is exactly what we are seeing today, with the minor exception of Bitcoin Cash. Then again, BCH has to fight its own battles, as it aims to distinguish itself from Bitcoin itself.

Things are looking pretty positive overall for the leading cryptocurrency. More specifically, the 2.81% 24-hour increase has elevated the Bitcoin price all the way to US$4,455 once again. It has been a while since we last saw this price point, but touching it again can only be considered a positive sign. A lot of traders and speculators have remained bullish on Bitcoin even though we underwent a correction not long ago.

Whether or not the continued bullishness is justified remains to be determined. However, seeing the Bitcoin price go back up over US$4,450 is highly significant, especially considering that the SegWit2x hard fork is almost upon us. Whether or not this fork will disrupt the Bitcoin price momentum in a significant way also remains to be seen. Right now, it certainly doesn’t look like it, but things have not been set in stone by any means.

Full story at http://bit.ly/2kx7RZr

Source: The Merkle

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Four Things That Could Take Bitcoin Prices Above $5000

Four Things That Could Take Bitcoin Prices Above $5000


After rallying from recent lows, Bitcoin prices have been stuck in the $4000-$4500 range for a couple of weeks. What will it take for the digital currency to head back to $5000 and beyond?

The return of buzz, which will bring buyers back to the market. And that will take a catalyst, like the rollback of China’s ban on Bitcoin and other cryptocurrencies, which killed Bitcoin’s buzz in the first place.

The ban may be temporary, to appease international agencies and hardcore communist members ahead of the upcoming Communist Party convention, as written in a previous piece here.

Full story at http://bit.ly/2kxqwEl

Source: Forbes

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Japan’s Largest Bitcoin Exchange Bitflyer Launches Bitcoin Visa Prepaid Card

Japan’s Largest Bitcoin Exchange Bitflyer Launches Bitcoin Visa Prepaid Card


Bitflyer announced on Friday the launch of its yen-denominated bitcoin Visa prepaid card. Starting on October 6, customers can apply for Bitflyer-branded Visa prepaid cards, fund them with bitcoin and use them at any stores that accept Visa cards.

The cards are free to use, with neither a signup fee nor an annual fee, according to Bitflyer’s website. Customers can reload their cards via their Bitflyer accounts online or using a mobile phone app. Balances on the cards are displayed in Japanese yen.

Japan's Largest Bitcoin Exchange Bitflyer Launches Bitcoin Visa Prepaid CardThere is a limit of 30,000 yen per load, a monthly load limit of 120,000 yen and a lifetime load limit of 1 million yen per card. In addition, each card expires in 5 years and its balance cannot exceed 100,000 yen.

To commemorate the event, Bitflyer is conducting a drawing to give away gifts to 1,000 “Trade Class” customers who have signed up with confirmed transactions between October 6 and October 22. Bitflyer has two account classes; the Wallet Class and the Trade Class. Wallet Class users are not eligible to purchase or sell digital currencies.

Full story at http://bit.ly/2kxmfku

Source: Bitcoin News

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Bitcoin is making banks nervous. Here's why

Bitcoin is making banks nervous. Heres why


Technology blogs and financial news networks are buzzing about blockchain, a cryptographic, distributed trust technology. The key innovation is how it reduces the need for central third-party institutions to serve as central authorities of trust — banks, courts, large corporations, stock markets and even governments, for example.

Distributed trust enables co-operative forms of organization without a centre. It can distribute power away from centralized institutions to those that traditionally have less power. Such powerful institutions do not let go of their influence easily.

The ongoing debate about how to regulate distributed trust technologies assumes that the advocates of the technologies will seek both legal status and enforceability. Scholars proposethat such developments in distributed trust are a competitive threat to nation-state paper currencies.

Much of the current, popular focus is on cryptographic currency — or cryptocurrency — applications such as Bitcoin.

Full story at http://bit.ly/2kxUnws

Source: World Economic Forum

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China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges

China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges


The Chinese government will likely resume cryptocurrency trading in the upcoming months with necessary Know Your Customer (KYC) and Anti-Money Laundering (AML) systems in place.

Earlier this week, Xinhua, the state-owned news publication of China, revealed that the Chinese government is concerned with criminal activities surrounding cryptocurrencies such as bitcoin. It emphasized that cryptocurrencies have become the “top choice” for underground economies and revealed that the government will take appropriate measures to regulate the market by implementing a licensing program and strict AML systems.

Last month, the Chinese government, the People’s Bank of China (PBoC), and local financial regulators imposed a nationwide ban on cryptocurrency exchanges. Consequently, the price of bitcoin fell to $3,000 and the cryptocurrency market endured a major correction.

Since then, the global cryptocurrency exchange market has restructured as the majority of trading volumes from China moved to neighboring markets such as Japan and South Korea. More to that, the Japanese government officially authorized 11 cryptocurrency exchanges in the same month, providing an efficient and well-regulated ecosystem for Chinese traders. As a result, the bitcoin price has recovered and has remained above the $4,000 margin.

Full story at http://bit.ly/2kyxzwz

Source: CryptoCoinsNews

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England Can Now Use Left-Over Change to Automatically Buy Bitcoin

England Can Now Use Left-Over Change to Automatically Buy Bitcoin


The world’s oldest currency still in use since its organic inception, pound sterling has seen its share of battles. Collapsing empire, wars, European Union and then divorce, the British will not be separated from their currency.

That might be changing.

A pseudonymous White Paper caught the imagination of Brits, and now trending numbers are giving up ornate, analog pence and pounds in favor of bitcoin.

It’s getting easier to do more of that.

Full story at http://bit.ly/2kx7SfX

Source: Bitcoin News

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