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Bitcoin And Ethereum Transfer Fees Opening Door To Dash, EOS And Other Coins

The news that Bitcoin and Ethereum have increased their transaction fees could seriously hinder their popularity, and trading ability. It has also allowed the lesser known and less popular cryptocurrencies, such as EOS and Dash to come forward and grow in popularity, especially since they have just announced that they are reducing their costs. Bitcoin have increased their transaction fees to $5 per transaction. This increase makes this cryptocurrency completely unsuitable for smaller transactions, which will reduce the chances of this virtual currency becoming an everyday currency, in the same way traditional ones are. The question that is worrying Bitcoin investors particularly is whether this increased fee means that it is heading towards its own doom.  Despite promising that Bitcoin was...

"Bitcoin Is No Currency!"

This bold statement has been made by Chris Iggo, the chief investment officer of Axa Investment Management. Despite admitting that those following Bitcoin would have been nothing but amazed at the recent price surge, he goes on to say that it is hard to see the digital asset as a currency, saying;  “[Money should act as] a store of value and a means of exchange…[it’s] hard to see that Bitcoin satisfies those criteria”  He believes that we are witnessing a digital bubble, and fears that our jobs might be taken by robots. He says;  “It is fair to conclude that with a market capitalisation bigger than some household-name corporations, we are witnessing a digital bubble…robots may be coming to take our jobs…Bitcoin might take people’s wealth first.”  It is possible that Bitcoin is not the only...

What Is Stopping Bitcoin From Becoming A Mainstream Currency?

There are a number of major roadblocks that are preventing Bitcoin from becoming a mainstream currency. Business Insider UK spoke with Garrick Hileman, who is a member of the University of Cambridge Research Fellow, about cryptocurrencies, and how Bitcoin could become a mainstream currency. He believes that there are two key factors that are holding Bitcoin back from becoming a mainstream currency, and would limit the ability for it to be used for everyday purchases. One of these factors is the high-transaction fees for every Bitcoin exchange. He writes; “It is used for payments but with transaction fees running as high as $20 per transaction that makes using Bitcoin for something like buying coffee prohibitively expensive…The transaction fee situation would need to improve with new techno...

Tips for the ICO due-diligence

by Andrea Bianconi https://www.linkedin.com/in/andrea-bianconi-blockchain-law/ Twenty years ago it was the IPO (Initial Public Offering) frenzy.  Most of those involved in today’s ICO´s were probably too young to recall the end of the 90´s but I was there putting crazy hours on the time-sheets working as a young Lawyer in the bustling City of London.  I saw it all, it was exciting time.  Then, suddenly, it popped … We know how it ended.  I do not know whether today there are more ICO´s than then IPO’s, but today there are on average 20-30 ICO´s per month. This is a lot of work to do for an investor who is willing to catch the “golden egg” among the many less than mediocre business ventures, quick buck schemes or just plain scams. Being careful and doing your d...

The Dangers Of Bitcoin

A Massachusetts’ top security regulator, William Galvin has warned about the dangers of Bitcoin. The security of the Commonwealth issued a statement just this week, where he likened the cryptocurrency craze to the tulip mania of the 17th century, warning investors that it could all end in disaster. So, before you choose to invest in the popular cryptocurrency, glance your eye over Galvin’s statement, which advises and actively encourages investors and any potential investors to consider the following seven points before they purchase any of the cryptocurrency that has dominated much of the headlines over the past two weeks. Virtual currencies, which includes Bitcoin are not regular money. This is because they are not backed by the United States, or any other government or central bank. You...

Bitcoin Investor Gives $86million Worth Of Bitcoins To Charity

A Bitcoin tycoon, or whale as they are known in the business, has promised to give away most of their fortune to charities. The benefactor, who has decided to remain anonymous announced plans on Reddit, and has since launched a website called the Pineapple Fund, which will document his endeavour. The generous investor wrote; “I remember starting at Bitcoin a few years ago (…) Bitcoin has changed my life, and I have far more money than I can ever spend. My aims, goals and motivations in life have nothing to do with have XX million or being the mega rich. So I’m doing something else: donating the majority of my Bitcoins to charitable causes. I’m calling it The Pineapple Fund.” The website states that they will donate to worthy charities that are preferably registered, as opposed to individua...

Japan Firm Joins Bitcoin Payment Clan

A company from Japan is set to start paying a part of its employees’ wages in Bitcoin. The company aims to gain a better understanding of the digital currency, claimed a spokeswoman on Friday. GMO Internet, which runs a number of web-related businesses such as finance, online advertising and internet infrastructure, will begin paying employees up to 100,000 yen ($890) monthly through Bitcoin. This is expected to commence from February next year. “Employees can receive salaries by Bitcoin if they want to,” company spokeswoman Harumi Ishii told AFP. “We hope to improve our own literacy of virtual currency by actually using it,” she said. Harumi then went on to say that the offer will be open to around 4,000 employees of the GMO group. The company started a Bitcoin tra...

FinLab expands its crypto-currency exposure with an investment in the ICO- and Token-Sale Accelerator ICONIQ LAB.

Frankfurt, November 17, 2017. FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR) is set to make a six-figure investment in Frankfurt-based Iconiq Lab Holding GmbH, the world’s first batch-driven Initial Coin Offering and Token Sale accelerator program. Iconiq Lab will invest these new financial resources in the development of the accelerator program and further expanding its global deal-sourcing presence. Iconiq Lab will invest in additional personnel and increase its marketing budget to drive global awareness of the sale of its own token, ICNQ, which goes on sale in January 2018. Iconiq Lab is a full-service platform for crypto-, blockchain- or tokenizable startups and provides seed funding and ICO-related expense coverage to selected startups. Iconiq Lab and its partners provide expert servi...

Daily Déjà vu Warning From Andrew Bailey

Another British leading financial regulator has sent a serious warning to all Bitcoin buyers (Which seems to scare no one) The chief executive of the Financial Conduct Authority (FCA) Andrew Bailey, told BBC “Newsnight” on Thursday, 14 December 2017 “If you want to invest in Bitcoin, be prepared to lose all your money.” He said, “a lack of backing from governments and central banks for the world’s most popular digital currency was evidence that putting money into Bitcoin was not a secure investment. He also said buying Bitcoin was akin to gambling because it had the same level of risk.” This is another in the long line of critics and enthusiasts who are seriously against the Bitcoin meteoric price rise, leaving current Bitcoin investors scrambling to understand the drivin...

EBay May Introduce Bitcoin

Bitcoin has soared in popularity in the past week, but when it comes to spending your cryptocurrency there are very few merchants who accept it. This could be about to change though, as it seems that EBay is considering welcoming Bitcoin to it’s platform.  Despite being very well known for its PayPal payments, the online auction site has started adding more and more payment options in recent months. Although they were still keen for people to use PayPal to avoid potential scammers.  Despite its previous rocky relationship with cryptocurrency, the situation could now change. It is already possible to buy crypto mining equipment on the platform, however this must be purchased in the usual way. The company is now considering adding a Bitcoin payment options in the very near future, although t...

Bridging The Gap Between Cryptocurrencies And Institutional Investment

The launch of Bitcoin on the Chicago CBOE Futures Exchange earlier on in the week, showed that cryptocurrencies are increasing legitimately among the professional investment community. The move followed announcements from Nasdaq, which is the world’s second largest exchange that they too will offer similar crypto derivatives. Most of the traditional investment world is incredibly sceptical about cryptocurrencies, with many believing that they concept and venture will fail. In a recent interview, Lloyd Blankfein, who is Chairman and CEO of Goldman Sachs said Bitcoin would not work out thanks to its fluctuating value. Institutional investors on the whole do not like taking risks and instead look for long term, stable returns. Not only are cryptocurrencies unstable, they also have strong link...

Hacked Starbucks Hotspot Used To Mine Cryptocurrency

A Starbucks store in Buenos Aires is unlikely to be top on your list of locations for you to find illegitimate mining of cryptocurrencies, but this is exactly what has happened. Caffeine lover Noah Dinkin got more than he bargained for, when he discovered that his laptop had been infected by malware after he had sat down to log onto the coffee shops free WiFi hotspot. The WiFi hotspot had been hijacked and infected with malware that syphons off processor power, which can then work out the calculations needed to generate and mine the cryptocurrency, all without the users knowledge. The chosen currency in this case was Monero. When he had discovered what was going on, he swiftly alerted Starbucks and the company worked quickly with its internet service provider to remove the malware from the...