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Goldman Sachs CEO sees Bitcoin as part of a financial new world

Goldman Sachs CEO Lloyd Blankfein has acknowledged that Bitcoins could play a leading role in the way the world economy functions in the future. Although his company has, up to now anyway, adopted a somewhat ambivalent attitude to anything cryptocurrency-related, Blankfein has suggested that the use of such currencies may become more common in the future. Blankfein sees the use of Bitcoin as part of the flow of history, with currency having undergone several mutations since it first emerged, thousands of years ago. As the structure of the world economy has become so much more complex in recent years, with...

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New York preschool starts accepting Bitcoin

In another move showing that Bitcoin is becoming part of day-to-day life for an increasing number of people, a New York area kindergarten has announced plans to start accepting Bitcoin as payment. While this may sound like any number of 'business starts accepting Bitcoin' stories that you've read over the past couple of years, in reality this one is a little different and shows that knowledge of and use of Bitcoin is definitely starting to spread outside the fintech industry. Response to public demand The scoop about the kindergarten accepting Bitcoin originally came from an interview that Marco Ciocca, chair...

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Bitcoin’s Lightning Network Has Potential Privacy Issues

The Lightning Network is often viewed as the holy grail when it comes to scaling Bitcoin to many more transactions per second, but questions remain as to how well the current version of this layer-two network can preserve or improve user privacy. During the Scaling Bitcoin workshop at Stanford University over the weekend, Zcash co-founder Ian Miers presented on the Lightning Network’s privacy issues and a potential solution to these problems. Privacy Issues with the Lightning Network At first, it may appear that the Lightning Network would provide improved financial privacy by default because transactions are mostly taken off of...

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Bitcoin price gains continue with record high just shy of $7000

Actually just over $7,000! Traditional investors just don’t like or trust cryptocurrencies. Jamie Dimon, CEO of JPMorgan Chase, says he wants nothing to do with Bitcoin (“a fraud”) and “if you're stupid enough to buy it, you'll pay the price for it one day.” Ray Dalio, owner of Bridgewater Associates and the world’s most successful hedge-funder, simply says “it’s very much speculative … it’s a bubble.” Almost as if it took encouragement from Dalio’s remarks, Bitcoin shot up Thursday to a new high of $7,354. That represents a 29% increase over the past week - an annualised 1,500%. What’s your...

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Goldman Sachs opens its doors to Bitcoins

Lloyd Blankfein, the Chief Executive Officer of Goldman Sachs, has said that his company is open to trading in Bitcoins, even though he himself is not totally happy with the crypto currency. His comment was made during an interview with Bloomberg at the Sustainable Finance Innovation Forum held recently in New York. He qualified his statement by saying that although he feels a certain discomfort with Bitcoins, it is the same discomfort he experiences with any new innovation. Prompting his comments is the fact that CME Group has recently announced that they are considering launching Bitcoin futures, something that, if...

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