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The Bank Of England Could Use Bitcoin To Toughen Up The Banks Defences

Whilst The Bank of England continue to explore the potential behind blockchain technology and cryptocurrency, as a part of the UK Crypto taskforce, we wish to explore some of the implications this sort of technology could have for The Bank of England specifically. Interestingly, Reuters have recently reported such a scenario, that discusses just how the bank might tap into Distributed Ledger Technology (DLT). You can see the full report by Reuters, here. According to the report: “The Bank of England is aiming to revamp the system that underpins British banking and trading in the City of London by 2020...

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Hashflare To Cease Bitcoin Mining Operations As It’s No Longer Worth Money

Hashflare is a cryptocurrency mining service that allows users to connect with crypto mining pools. What this does, is controls a set amount of your computers processing power via the pool and rewards contributors with a share of the transactions that they facilitate. As it stands, Hashflare allows users to mine in pools for Litecoin, Ethereum, Zcash and Dash. Bitcoin mining of course was available however now it seems that Hashflare wish to phase this out, simply because they aren’t making any money off it anymore. According to a report by RTT News: “Hashflare, a cloud cryptocurrency mining platform, abruptly...

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Bitcoin Hits $7,700, Bitcoin Cash Up 3% And NEM Flying High

The markets have taken a very welcome turn over the past week with cryptos flying high, Bitcoin dominance through the roof and an overall positive feeling towards the markets. Whilst we haven’t seen the bull run July promised, we are now setting up for a far more positive month through August. Given the current state of the markets, we are indeed now looking at Bitcoin hitting $10,000.00, XRP hitting $1.00 and possibly even Bitcoin Cash hitting $2,000.00 once more. Of course, these projections are far from the perfect value of BTC, XRP and BCH but these projections at least put...

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Will Bitcoin Follow Gold And SkyRocket With EFT Approval?

Gold is a tangible precious metal whereas Bitcoin is digital. The similarities between them run deep; they are both mined, one physically, the other digitally. Yet if we look closely at the history of gold, Bitcoin is displaying the same behaviour pattern as we've seen for gold. Prices soared in 1971, when President Richard Nixon announced that the US dollar would no longer be backed by gold, as demand outstripped supply. A major development in March 2003 saw the first gold-backed ETF (Exchange Traded Fund) from the Australian Stock Exchange; the people behind this were the Rothchilds of Deutsche Bank....

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American Congressman Says Bitcoin Mining Should Be Made Illegal

Yesterday (18th July 2018), saw two separate House Committees discuss cryptocurrency in general, as well as specifically talking about Bitcoin. While the debates reached no clear conclusion, it has shown the general ignorance of the US’s elected officials on these topics. House Financial Services Committee The second committee to debate on cryptocurrency and Bitcoin was the House Financial Service Committee, with the purpose of discussing potential uses of all virtual currencies both within the US and in international markets. It was during this debate where Democratic Congressman, Brad Sherman (California), suggested that: “We should prohibit U.S. persons from buying or...

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