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Developers turning to hard forks rather than ICOs for fundraising

Originally, companies who need to fund their development cryptocurrency projects did so by providing Initial Coin Offerings (ICOs). For those who need to do this fundraising, a new trend is emerging: the hard fork. The forks imply a protocol change that results in an old and a new version of a cryptocurrency. The developers have no monetary advantage as they only make a change. The holders of the original cryptocurrency keep hold of coins on both branches. This was especially true with Bitcoin Cash; this was a true Bitcoin fork that provided larger blocks. As the developers simply made a...

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Bitcoin breaches the $8,000 mark after massive head fake

Late on November 16th, Bitcoin broke the $8,000 level for the first time, capping out at $8,020 on Bifinex before receding to $7,900 at press time. It's becoming repetetive to read about Bitcoin beating its previous high, but on this occasion it's different - Bitcoin pulled off a massive head fake. Taking a look back When the SegWit2x hard fork was cancelled, the Bitcoin price instantly spiked from $7,200 to $7,800. But in less than an hour, the price was plummeting, sinking to a local low of $5,500. Meanwhile, rival Bitcoin Cash surged from $600 to $2,600, due to many...

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Bitcoin becomes new 'crisis currency'

Many of the people investing in Bitcoin are not simply using it as a means of speculation, but as an alternative to more traditional, and in some cases, less stable and accessible currencies. According to a recent report by Bloomberg, around a third of customers at 'La Maison du Bitcoin' in Paris are using the cryptocurrency to transfer much-needed funds to their families in Africa. This is due in part to political and economic instability, but also to the ease of access that the cryptocurrency provides: Manuel Valente, cashier, explains: “In many countries in Africa, there are more cellphones than...

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Bitcoin hits a high of $8,000

Bitcoin has begun to get over their tumultuous period by topping out at a massive $8,020 on Bitfinex before settling at $7,900. Not that long ago, the implementation of the SegWit2x hard fork was pulled which caused the price to rise to $7,800. However, within just an hour, the price had ended up in a free fall. Within a couple of days, Bitcoin had dropped to a low of $5,500, whilst Bitcoin Cash had started on an upwards trajectory, hitting $2,600. In this period, a number of Bitcoin’s miners had transferred to Bitcoin Cash causing the number of pending transactions...

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Morgan Stanley CEO Gorman plays down Bitcoin growth

If there is one subject that seems to divide the large financial investors and investment banks, it is Bitcoin! While the stunning year the cryptocurrency has seen to date has amazed all with its 700% growth, some have not always been too complimentary about it. One exception to that had been Morgan Stanley CEO James Gorman who, while not gushing in praise, had not been overly critical of it. In recent comments though, it seems he may now be taking a more cautious stance on Bitcoin. Gorman hints at speculative bubble Although his recent reported comments were not scathing as...

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