BitFinex is compared with MtGox in the light of the last problems that users have already had. bitFinex community is having serious issues with money withdrawal, to such extend that some observers start mentioning the MtGox in this connection. One more reason for worrying is the connection of Bitfinex and Tether, as some users are claiming that the company is risking with the money of its users and uses fraudulent practices in trading, hence, putting under risk all users` funds.
Bitcoin has passed all barriers and now is worth 10,000 USD. After a week of consolidation around 8,000USD, bitcoin moved forward and finally reached the forecasted price of 10,000USD, right before the Thanksgiving day!
Some cryptocurrency ventures promise token rewards to all users who invests in their tokens. Wow how nice – you may think. Though… If an investor has a token that has some value plus it is rewarding the investors just for the fact that the investor bought it… it definitely creates prerequisites for artificial jeopardy and unpredictable consequences.
Bitcoin price grew to 8,000USD level, and this is not the end yet. Just some time ago, after the main threat for bitcoin, SegWit2x failed, bitcoin price surged from 7,200USD to 7,800USD. Just a few days after that though bitcoin dropped to 5,500USD, while bitcoin cash grew from 600USD to 2,600USD. Right at that moment, many bitcoins were exchanged to bitcoin cash, this, in turn, made the fees grow enormously. Though, the bitcoin cash start time hasn’t lasted long. After it dropped in price, bitcoin miners started returning to bitcoin, hence, the digital coin price started growing. though, scalability and regulation issues are still unsolved.
Bitcoin price is growing with an immense speed beating all possible and impossible records and forecasts. Some analytics predict that it may reach up to 400,000 USD per one coin. Though, how viable those forecasts are?
Bitcoin PRICE OverviewBitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Although other cryptocurrencies have come before, Bitcoin is the first decentralized cryptocurrency – Its reputation has spawned copies and evolution in the space.
Cryptocurrencies have been passing through hard times in Russia. Periods of acceptance have been changing with periods of rejection, at times the government saw cryptocurrencies as the future of financial world, at times it was ready to ban all that isn’t money officially. Just a moth ago, Russia announced that it is going to issue its own cryptocurrency that will not be mined, and it will be regulated by the own legislation. Some weeks ago, the communication minister of Russia Nokilay Nikiforov announced, that bitcoin and bitcoin trade would never be legalized in the country.
Huge adoption rate of blockchain technology made many institutions think rather how to legalize and regulate it rather than how to ban it. The latest addition is the insurance, the regulation was accepted by a number of European countries that have been partnering to provide a simple insurance package to insure simple transfers between clients. a good step forward for a technology that is for now not regulated otherwise. The newest regulation will come in force in 2018. According to it, customer data will be stored in a highly secured system. According to the new law, companies that don’t provide a proper protection for customer data will be fined heavily. The blockchain platform though is able to do something that others platforms aren’t able to provide regarding data protection. The system is limiting data release of clients to the minimum, with that, the blockchain platform is able to provide something exceptional in data protection, that can be used as a reference by the other system…
Kazakhstan is making effort to embrace new technologies, including cryptocurrencies. Right now, the country considers the acceptance and legalization of blockchain technology and creation of a cryptocurrency lobby group in order to perform promotion and facilitation of introduction of cryptocurrency.
Bitcoin cash has to replace bitcoin within the next 6 months – this announcement has been made recently as Bitcoin Classic has confirmed its shutting down. The release manager Tom Zander greeted the bitcoincash and commented that classic bitcoin has fulfilled its promise and hence, its function, bitcoin cash is on the way to market.
Bitcoin is moving forward! Bitcoin exchange Bitstamp ia launching a new bitcoin trading platform. Investors have been sceptical regarding bitcoin when it moved away from the main blockchain fork, though that scepticism has not proven since then. The bitcoin price grew enormously, even above the forecasts. Nowadays bitcoin has the third place in the world raking and is worth 1200 USD per one coin. Hence, more and more services are offered with bitcoin included, and more and more financial platforms, including trading platforms, are including bitcoin in their offers.
The Federal Financial Supervisory Authority, the main German financial regulator, has issued a warning about the risk of investing in the Initial Coin Offerings (ICOs). Among the numerous risks listed by the German watchdog there is even the risk of the total loss of the invested sum. As well, ICO can attract scammers and fraudsters, who may involve investors in their “projects” and then disappear with the investors` money.