SydesJokes

Monday, May 1, 2017

Russia Becomes Bitcoin’s Future Big Influencer Along With China, India

China, India and Russia increasingly look to become the major influencers in Bitcoin prices in the coming years.

In the midst of Japan’s decision to allow cryptocurrency as legal tender in a fully-regulated environment, Bitcoin is again breaking the $1,200 price point.

However, traditional Bitcoin powerhouse China is ready to stage a comeback, while India and Russia’s emerging demand and hopeful regulatory future are already unleashing huge potential.

While the legal situation regarding crypto exchange in China is still uneven, with business expansion countered by user complaints of funds freezing from above, the classic Bitcoin mecca is progressing, having spent several months in judicial limbo.

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

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Malta Approves National Strategy Draft to Embrace Bitcoin

Malta’s prime minister Joseph Muscat reportedly announced that the first draft of a national strategy to promote Bitcoin and blockchain technology has been approved by the Cabinet, according to Malta Today.

At a conference organized by the parliament’s Economic and Financial Affairs Committee, Muscat expressed that Malta will become one of the first countries in the world to embrace Bitcoin and its technology.

“I understand that regulators are wary of this technology but the fact is that it’s coming,” he noted. Promising that the strategy will soon be published for public consultation, he said:

"We must be on the frontline in embracing blockchain and Bitcoin…we must be the ones that others copy."

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

The Great Price Divide Widens During Bitcoin’s 2017 Rise

Over the course of the past week, many traders have been discussing the significant price differences between exchanges. Most notably, the spread between Bitfinex and a majority of other exchanges’ rates is considerable.

The price difference at Bitfinex compared to other exchanges is roughly $110 at press time. The large spread has been ongoing for the past five days and began when the exchange halted fiat withdrawals. The price difference and suspended withdrawals have quite a few skeptics concerned the community could once again revisit the bad memories of the Mt Gox fiasco in the past.

Full story at http://bit.ly/2pjq11f

South Korea’s Central Bank Report Says ‘Bitcoin and Fiat Currency Can Coexist’

Researchers from Seoul’s Hongik University and members of the Bank of Korea (BOK) have released a paper called “Crowding out in a Dual Currency Regime.” The paper written by Kihoon Hong, Kyounghoon Park, and Jongmin Yu details how cryptocurrencies and fiat monetary systems could collaborate in the future in what the authors call a “dual currency regime.”

“The rise of cryptocurrencies could have a significant impact on our monetary system as they are privately issued currencies, thus not regulated by central banks,” explains the BOK research paper’s authors.

"The recent emergence of digital currency opens up a new type of dual currency regime in which digital currency, which has no intrinsic value and a government-issued fiat currency coexist. One of the well-known examples of privately-issued digital currencies is Bitcoin."

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

Bitcoin’s Triumphant Q1 Price Resilience and Performance Surpassed All Fiat Currencies

The first four months of 2017 has been exciting for bitcoin market participants as the price per BTC has had an incredible run. At press time the price per bitcoin is around $1290, and the decentralized cryptocurrency currently commands a $20 billion market capitalization. On April 25 one bitcoin outperformed the spot price of gold as it had done already a few weeks ago. Furthermore, as a currency bitcoin is also surpassing every government-issued fiat currency performance-wise as well.

Even though bitcoin markets have been on a tear, the rise has been rather modest. As far as other cryptocurrencies are concerned, altcoins like Ethereum, Dash, and Monero, performed even better than bitcoin’s 30 percent Q1 gains. For instance, Dash increased in price by over 800 percent and Ethereum’s market valuation jumped ahead by 600 percent. However, many of the pumping altcoins have yet to see any real world use cases outside of cryptocurrency market pumps and dumps.

Full story at http://bit.ly/2pjf1ke