Category Archives: Bitcoin

Forget U.S. stocks and emerging-market assets, even ignore bitcoin. Those brave enough to invest in the Wild West of tech are the ones making a killing.

While the record-breaking rally in bitcoin has captivated markets, demand for other digital coins is surging as companies raise millions in minutes, or even seconds, from investors wanting in on the next big tech startup. Last week it took 30 seconds for Mozilla co-founder Brendan Eich to issue about $35 million of basic attention token, the unit of exchange in a blockchain-based advertising platform built on top of the companys Brave browser.

QuickTake Bitcoin and the Blockchain

Digital tokens tied to the blockchain platform issued this year have more than doubled in price on average since trading started, according to data compiled by Bloomberg. Tech startups are increasingly selling coins that can be used on their projects instead of resorting to traditional financing methods such as venture capital.

The sector isnt for the fainthearted. The apps and websites behind most of these tokens are still only in development stage. Most are sold for pennies on the dollar and volatility can be extreme. TaaS, a closed-end fund dedicated to blockchain markets, had the coins it sold this year double in price in five weeks, and then fall 35 percent in two days.

But if you can stomach the risk, the rewards have been substantial. Coins from the 15 ICOs this year for which data is available have risen by an average of over 100 percent, while shares sold in initial public offerings in the U.S. this year have gained 13 percent on average since they started trading.

Theres been overwhelming demand for coins,said Ron Quaranta, chairman of the Wall Street Blockchain Alliance. Sure, a lot of it is based on speculation and traders looking to make a quick gain, but theres also a fundamental driver, which is the anticipation that the digital-currency market is maturing.

Read more on how digital coins are letting startups bypass venture capital

Forty-four coins have been issued this year, according toblockchain research website Smith & Crown. Not all trade immediately after the auctions since some have vesting periods. The tokens with the biggest gain, a 500 percent jump since it started trading on March 30, was issued byEdgeless, which is building a decentralized gambling platform. That sale wasnt open to U.S.-based investors since the company isnt licensed to operate in the U.S.

Prediction market platform Gnosis sold the highest valued tokens this year. The GNO token started trading at $52 on May 1 and has more than quadrupled.

Even with growing acceptance of blockchain from companies ranging from Toyota Motor Corp. to JPMorgan Chase & Co., some advocates of the technology say theyre cautious of the digital tokens because of the exuberance sweeping through the cryptocurrency world.

It seems like a fad, and as a professional investor, its not what we do, said David Dunn, president of Kingsbridge Wealth Management, who first bought bitcoin in 2014 and has invested in blockchain-related companies. Id rather invest in the companies using the technology themselves. The speculators might end up being right, and this becomes a solid investment because of the power of the technology, but were not at that stage.

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Token sales like the one for Gnosis, which catapulted the companys market capitalization to over $300 million without it even having a product, or Eichs BAT coin, which was over in seconds, have raised some eyebrows. Still, the token market will probably continue to grow at least in the near future, said Nick Tomaino, principal at San Francisco-based venture-capital firm Runa Capital, who also runs The Control blog, which tracks digital currencies.

More than $100 million of coins has been raised this year, surpassing total sales last year, while total issuance is expected to jump to about $600 million, according to Tomaino.

Theres a lot of hype, and a lot of money being raised because its so easy for anyone to create these coins without having to deal with any third parties, and its so easy for people to buy them, Tomaino said. It cant be stopped.

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Digital Coins Are Making Bitcoin's Rip-Roaring Rally Appear Tame - Bloomberg

McClatchy Washington Bureau

You can't hold a bitcoin, but the web currency's value has skyrocketed. Why? McClatchy Washington Bureau Unlike gold or dollar bills, the digital currency known as bitcoin does not physically exist. There is no there there. Even so, there is excitement and speculation. And a wild rollercoaster ride. The price of bitcoin has more than tripled in the past ... Bitcoin Demand Increase in Asia Driven by RemittancesCoinTelegraph Japan And South Korea To Invest More In BitcoinCryptoCoinsNews Bitcoin now worth more than goldDaily Trust New York Post -The Fresh Toast -Gadget Hacks all 30 news articles »

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You can't hold a bitcoin, but the web currency's value has skyrocketed. Why? - McClatchy Washington Bureau

The speculative frenzy in bitcoin is spilling over into the Tokyo Stock Exchange. Remixpoint Co., Infoteria Corp. andFisco Ltd., have all seen volatile swings in their share prices after announcing businesses related to digital currencies.

Remixpoint has more than doubled since tying up with Peach Aviation Ltd. to let customers pay for tickets with bitcoin. Infoteria, up 58 percent in the past month, is testing ways to let shareholders vote by proxy using blockchain, bitcoins underlying technology.Fisco, a financial information services provider, began operating a bitcoin exchange last year and is up 26 percent since early May.

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All of these gains coincide with bitcoins rally, with the value of the virtual currency doubling against the U.S. dollar since early May. That has made the stocks of the these small-cap companies an attractive way for speculators to invest in cryptocurrency markets without buying them directly. Thats because investors can make bets via their brokerage accounts instead of taking risks with bitcoin exchanges, according to Naoki Murakami, a well-known day trader in Japan.

From about a month ago when all these virtual currencies started spiking like crazy, we began seeing the so-called stocks of the virtual currency bubble, said Murakami, a frequent speaker at investor conferences. Not everyone is sure they can trust bitcoin exchanges. And some dont have accounts there. Thats why theyre using the stock market to speculate.

Its probably not a coincidence that Japans stock market is being seen as a proxy for bitcoin investments. In April, Prime Minister Shinzo Abes government legalized digital currencies as a form of payment and placed rules around audits and security. That lent credibility to digital currencies, leading to some Japanese companiesseeking partnerships with bitcoin startups.

Remixpoint is the biggest of the bunch, with a market value of 31.3 billion yen ($283 million). Remixpoint was the second-biggest gainer in the TSE Mothers Index over the past month, helping the gauge soar to the highest level in a year. Remixpoint is trading at 514 times earnings, the highest among all Japanese technology companies worth more than 30 billion yen.

Another reason why these stocks can become proxies for bitcoin is due to Japans relatively loose listing laws, some of which require no income and a market value of as little as $10 million before a company can go public. Thats made the Tokyo Stock Exchange home to hundreds of small companies.

Its pure frenzy, Murakami said.

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Bitcoin Mania Infects Japanese Stock Market's Smaller Listings - Bloomberg

The government of Japan has set a growth strategy for financial technologies (FinTech), one that aims to double the adoption rate of digital payments over the next decade in the country.

Japan is lagging behind its Asian counterparts when it comes to cashless payments, particularly against the likes of China and Korea which see over 50% of their societies embracing cashless payments. In comparison, the current adoption rate of digital payments is a relatively measly 19%. Japanese authorities are clearly seeing a growth opportunity for FinTech payments, particularly during the run-up to Japan hosting a global event with the 2020 Tokyo Olympics.

According to a report by the Nikkei, Japans Financial Services Agency (FSA) the countrys financial regulator and the Ministry of Economy, Trade and Industry (METI), are involved in the development of a FinTech growth strategy to be compiled this month.

Roughly 90% of Japans hotel and accommodation industry accept card payments. Less than 70% of the countrys supermarkets accept cards and that number falls even further with about half of the countrys taxis accepting cards, according to the report. Small businesses, in particular, havent signed on due to an expensive onboarding process where credit card payment terminals cost 100,000 (approx. $900) to install, aside from monthly fees for their lease. This makes another reason why Japans bitcoin industry sees the wider retail economy to be particularly ripe for disruption by bitcoin payments.

The wider plan to promote FinTech will ultimately target a 40% adoption rate of cashless payments, pulling it level to the likes of the United States.

Among other efforts, Japans government will subsidize installation fees for cashless payment facilities including card payment terminals that work with credit cards as well as widely-adopted smart cards like public transit cards. The government will also push businesses to simply transactions by promoting digital receipts. Come 2020, Japan will hope to see all metropolitan regions and tourist destinations accept cashless payments.

Furthermore, in 2018, the near 3,000 ATMs operated by Japans three megabanks all of whom who are also investors in Tokyo-based bitcoin exchange bitFlyer will also enable users to exchange foreign currency using foreign-issued cards.

The FinTech forward agenda will also see 80 Japanese banks, more than half of the countrys total, allow third-party developers into their systems using API access to innovative with new services in areas such as remittance and payments.

The FSA played a significant role in Japans recognition of bitcoin as a legal method of payment akin to prepaid cash cards or gift certificates. In February 2016, the countrys financial regulator began considering legislative revisions to recognize digital currencies like bitcoin as the digital equivalents of conventional currencies. The following month, a bill that official recognized bitcoin as the equivalent of money was passed and ultimately went into effect in April this year.

In May last year, Japans legislative body passed a bill to regulate bitcoin and virtual currency exchanges that will fall under the purview of the FSA. The FSA is reportedly seeing nearly 20 applications for licenses for bitcoin exchanges at a time when industry executives estimate up to 300,000 Japanese storefronts accepting bitcoin this year. The anticipation of disruption by digital currencies in the country sees MUFG, Japans largest bank, planning to transform a credit card unit into a digital currency management platform.

Meanwhile, METI- the countrys industry ministry has published its evaluation process for blockchain technologies, an innovation widely expected to disrupt and transform a number of industries in finance and beyond.

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While Bitcoin Booms, Japan Aims to Double Digital Payments - CryptoCoinsNews

TOKYO/SEOUL Long the preserve of geeky enthusiasts, bitcoin is going mainstream in Asia, attracting Mrs Watanabe - the metaphorical Japanese housewife investor - South Korean retirees and thousands of others trying to escape rock-bottom savings rates by investing in the cryptocurrency.

Asia's moms and pops, already regular investors in stock and futures markets, have been dazzled by bitcoin's 100 percent surge so far this year. In comparison, the broader Asian stocks benchmark has gained 17 percent over the same period.

Even after a tumble from last week's record $2,779.08 high, bitcoin rose more than 60 percent in May alone - driven higher in part by investors in Japan and South Korea stepping in as China cooled after a central bank crackdown earlier this year.

(For a graphic on bitcoin economy click tmsnrt.rs/2skLZ3c)

Over the last two weeks, and encouraged by Japan's recognition of bitcoin as legal tender in April, exchanges say interest has jumped from the two countries. Bitcoin trades at a premium in both, due to tough money-laundering rules that make it hard for people to move bitcoin in and out.

"After I first heard about the bitcoin scheme, I was so excited I couldn't sleep. It's like buying a dream," said Mutsuko Higo, a 55-year-old Japanese social insurance and labor consultant who bought around 200,000 yen ($1800) worth of bitcoin in March to supplement her retirement savings.

"Everyone says we can't rely on Japanese pensions anymore," she said. "This worries me, so I started bitcoins."

Asia has proved fertile ground for bitcoin due to the region's thriving retail investment culture, where swapping investment tips is already common. China, Japan and South Korea are home to several of the world's busiest cryptocurrency exchanges, according to a ranking by CoinMarketCap.

"Right now, it's a form of speculation, like stocks," said Park Hyo-jin, a 27-year-old South Korean who owns around 3 million won ($2,700) of bitcoin. "I don't think anybody in South Korea buys bitcoin to use it."

The risks, though, are rising too.

Bitcoin is largely unregulated across Asia, while rules governing bitcoin exchanges can be patchy.

In Hong Kong, bitcoin exchanges operate under money service operator licenses - like money changers - while in South Korea they are regulated similar to online shopping malls, trading physical goods. Often there are no rules on investor protection.

BITCOIN WHEN YOU DIE

Park and Higo were drawn into bitcoin by friends. Others are attracted through seminars, social media groups and blogs penned by amateur investors.

Noboru Hanaki, a 27-year-old Japanese web marketer and bitcoin investor, said his personal finance blog gets around 30,000 page views each month. The most popular post is an explanation of bitcoin, he said, noting that when the bitcoin price surged last month, readership of the article doubled.

Rachel Poole, a Hong Kong-based kindergarten teacher, said she read about bitcoin in the press, and bought five bitcoins in March for around HK$40,000 ($5,100) after studying blogs on the topic. She kept four as an investment and has made HK$12,000 tax-free trading the fifth after classes.

"I wish I'd done it earlier," she said.

Not everyone's making money.

The bitcoin frenzy has spawned scams, with police in South Korea last month uncovering a $55 million cryptocurrency pyramid scheme that sucked in thousands of homemakers, workers and self-employed businessmen seduced by slick marketing and promises of wealth.

Seminars in Tokyo, Seoul and Hong Kong promote similar multi-level marketing schemes that require investors to pay an upfront membership fee of as much as $9,000. Members are encouraged to promote the cryptocurrency and bring in new members in return for some bitcoins and other benefits.

One such Tokyo scheme offered members-only shopping websites that accept bitcoin, 24-hour assistance for car and computer problems, and bitcoin-based gifts when a member gets married, has a baby - or even dies, according to marketing materials seen by Reuters.

Leonhard Weese, president of the Bitcoin Association of Hong Kong and a bitcoin investor, warned amateur investors against speculating in the digital currency.

"Trading carries huge risk: there is no investor protection and plenty of market manipulation and insider trading. Some of the exchanges cannot be trusted in my opinion."

Some larger exchanges have voluntarily adopted security measures and compensation guarantees, according to their websites, although there are dozens of smaller platforms operating more or less unchecked.

In South Korea, the Financial Services Commission (FSC) has set up a task force to explore regulating cryptocurrencies, but it has not set a timeline for publishing its conclusions, an official there said.

In Japan - where memories are still fresh of the spectacular 2014 collapse of Mt. Gox, the world's biggest bitcoin exchange at the time - the Financial Services Agency (FSA) said it supervises bitcoin exchanges, but not traders or investors.

"The government is not guaranteeing the value of cryptocurrencies. We are asking for bitcoin exchanges to fully explain the risk of sharp price moves," an FSA official said.

Some professional investors say bitcoin can be a useful hedge to help diversify a portfolio, but investors should be cautious.

"This is an extremely volatile and innovative asset class," said Pietro Ventani, managing director of APP Advisers, an asset allocation strategy firm.

(Reporting by Minami Funakoshi in Tokyo and Joyce Lee in Seoul, with additional reporting by Michelle Price in Hong Kong and Yoshiyuki Osada, Takahiko Wada and Hideyuki Sano in Tokyo; Writing by Michelle Price; Editing by Clara Ferreira-Marques and Ian Geoghegan)

TOKYO Japan's Mizuho Financial Group will start a venture next month to create new businesses using "fintech," an executive said, joining a global race in financial technology that threatens to unsettle traditional players.

NEW YORK Kik Interactive, which created the chat platform Kik, said on Thursday it was launching a crypto-currency or token called Kin that would enable customers to use a whole range of digital services.

NEW YORK Financial and technology companies led by Bank of America Corp, SBI Holdings Inc, HSBC Holdings Plc, Intel Corp and Temasek Holdings have invested $107 million in R3 CEV, a startup which runs a big bank consortium seeking to develop blockchain technology, it said on Tuesday.

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Fretting over savings, Mrs Watanabe turns to bitcoin - Reuters

Despite its problems with scalability, which has led some to now complain of fees in the $13 range or $26, bitcoins price continues to increase, rising above $2,500 today after what appears to have been a a downwards correction from an all-time high of $2,800.

Bitcoin rises above $2,500 after a market correction image source cryptowatch.

Its rise is probably mainly due to speculation, in particular by the Japanese where bitcoin trading has been added to z.com, which claims to be one of the worlds largest foreign exchange platform, in a move made after Japan declared bitcoin to be legal tender.

That declaration was made soon after China cut-off bitcoin exchanges in its own country, giving the market to its neighbours, Japan and South Korea, which have gladely taken the opportunity to participate ina booming industry.

Perhpas China finally saw just what, potentially strategic, debacle it had created, so the exchanges opened withdrawals on the 1st of June, just as ethereum trading was to begin. In the process, likelycontributing to bitcoins recent price rise.

Another reason might be other digital currencies which act as a source of demand for bitcoin because most of them can only be bought with btc. According to coinmarketcap, bitcoins highest trading volume is with a currency no one has heard of, DigiBytes.

They appear to be a bitcoin copycat from 2014 which has shot up some 40%, seemingly because they activated segwit, even though they say their blockchain doubles in maxblocksize every two years, apparently in a similar fashion to Bitcoin XT and BIP101.

Bitcoins current trading markets image source coinmarketcap.

The only way to buy them is through bitcoin, which might provide the currency with some upwards pressure, with ethereum continuing to be in the top three for bitcoins trading volumes even though that digital currency now has its own direct fiat markets.

It appears, therefore, bitcoin largely benefits from other digital currencies, while they, in turn, benefit from bitcoin, until the infrastructure adapts towards trading against other currencies, such as eth. A likely eventuality if bitcoins fees keep going up.

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Bitcoin Price Rises Above $2500 - CryptoCoinsNews

The price of Bitcoin is up 19% since I wrote about cryptocurrencies just two days ago. In two days! Oh wait, no it isn't. It's just fallen 11% in the past couple of hours. This is classic bubble stuff, meaning the price could skyrocket further or collapse in the blink of an eye. Whether or not you own Bitcoin, today I have some ideas about what to do now.

Bitcoin's price was $2,250 (US dollars) when I wrote on Tuesday (see here). When I looked a couple of hours ago it was $2,685. At the time of writing it's $2,396, down 11% from the earlier reading. At your time of reading it could be anywhere.

The world of cryptocurrencies is back in full hype and bubble mode. Wences Casares, the CEO of bitcoin wallet Xapo and a member of the PayPal (NASDAQ:PYPL) board, is reported to have said the Bitcoin price will go to $1 million in the next five to ten years.

Later on I'll come back to whether this suspiciously round, attention grabbing and huge number makes any sense. For now let's just accept that there's plenty of hype and nonsense floating around.

This seems like an apt time to bring out a famous chart of the stages in a speculative bubble. It was produced by Dr. Jean-Paul Rodrigue at the Hofstra University in New York many moons ago.

Bitcoin and other cryptos look like they're somewhere in the mania phase at the momentin Bitcoin's case it's the third time already since it was sparked into existence in October 2008. But each time dizzying delusion was followed by depths of despair it turned out to be temporary. Higher lows and higher highs followedat least so far.

Of course, Bitcoin was something genuinely brand new when it appeared. It's money, but not as we knew it. So the people involved were and are a different crowd to past manias. Still human though, and hence still prone to the same human foibles and vices.

Who's blowing the bitcoin bubbles?

In this case the "smart money" in the chart's stealth phase was a ragtag group of tech savvy anarchists and anti-banksters. Likewise the "institutional investors" don't feature in Bitcoin world. Instead they're replaced by fringe financiers, the odd venture capitalist, and libertarian leaning technophiles.

As for the "public", forget about it. Yes, there are more and more individuals buying cryptos, but they're still a tiny minority. At least in relation to, say, the mania around dot com stocks in the late '90s. But during each Bitcoin boom and bust cycle more people in more countries are drawn in. At least so far.

Here's what they looked like:

It seems pretty clear that Bitcoin is once again in the mania phase of the cycle. But where exactly in the mania phase? I'm guessing "Greed", "Delusion" or "New Paradigm".

But it's hard to know how far we are from the tipping point. In the coming days and weeks, the price could rocket to $4,000, or $6,000, or $10,000. Or it could sink over coming weeks and months to $1,500$1,200$800.

Nobody - and I mean nobody - knows what happens next. No self-proclaimed guru. No independent analyst. No hopeful speculator. No regretful latecomer to the party. Not you. Not me. Nobody.

But that doesn't stop more and more outlandish claims and self-interested hype. Like Seor Casares (he's Argentine) and his outlandish claim that the Bitcoin price should hit $1 million in five to ten years.

Million dollar Bitcoinreally?

Of course he could be right. But I'm going to have a stab at seeing whether it's likely, using nothing but common sense. Here goes

Currently there are 16.3 million Bitcoins, and I estimate this will reach around 19 million in five year's time. The growth rate slows down as the ultimate limit of 21 million approaches.

If a single Bitcoin is worth $1 million then all Bitcoin would be worth $19 trillion. In the past article I showed that Bitcoin was 46% of the total value of all cryptocurrencies, which in total were worth $80.3 billion.

On the (perhaps generous) assumption that Bitcoin maintains its market share, in the face of unlimited crypto competition, that implies the total crypto market would be worth $41.3 trillion when Bitcoin is priced at $1 million.

According to estimates by Credit Suisse, total global household wealth was $256 trillion in 2016, of which $157 trillion was financial assets. Wealth has grown at an average 5% a year since 2000. Assuming that growth rate continues, total household financial assets would be around $200 trillion in five year's time.

Financial assets include bank deposits (and a little physical cash), stocks, bonds, investment funds, precious metals and so on. For Bitcoin and other cryptos ("Altcoins") to take off they basically have to replace a large piece of bank deposits.

A necessary condition of anyone getting involved with cryptos is that they have internet access. Even today around half of the world's population is offline completely. And many of those supposedly online don't have regular and easy access, so perhaps the true percentage of people with regular and easy internet access is only 35-40%. It keeps growing, but still has a long way to go.

Of course most of those without access are poor, meaning they control little wealth. The combined household wealth of North America, Europe and Asia Pacific is 85% of the total. Strip out the poorer parts of Asia and let's say cryptos' potential market consists of people that control roughly 75% of global wealth.

That indicates $150 trillion of relevant financial assets in five year's time (75% of $200 trillion). Americans have just under 20% of their financial assets in deposits, Europeans just over 40%. Add in wealthy countries from Asia Pacific, in particular Japan, and let's say 35% of those financial assets are bank deposits. That comes to $52.5 trillion.

In other words, if the Bitcoin price hits $1 million then all Bitcoins would be equivalent to 36% of the bank deposits of people with the internet ($19 trillion divided by $52.5 trillion). And if Bitcoin has the same market share of all cryptos at that time as it has now, then all cryptos would be equivalent to 79% of those bank deposits ($41.3 trillion divided by $52.5 trillion).

My numbers are just rough estimates. Even so, looked at this way it becomes pretty clear that $1 million Bitcoin is a fantasy. Like me becoming an astronaut at the age of 45 and both coming from and living in a country with no space programme.

A couple of days ago all 16.3 million current Bitcoins were worth $37 billion. Making the same assumptions as above, current bank deposits of people with internet access would be $41.2 trillion.

That means Bitcoin is equivalent to about 0.09% of potentially convertible household deposits. Put another way, that deposit base is about 1,100 times bigger than the value of all Bitcoins.

What if, in five years, it gets to 1%, or 1-in-100? Which is to say 11 times its market share of relevant household deposits today? That would be $525 billion, split across those 19 million projected future Bitcoins, giving a price close to $28,000.

That's still over 11 times today's price, but it's a hell of a long way from $1 million. It's also not a prediction. I'm just trying to show a more realistic potential level. But don't forget that Bitcoin faces plenty of new competition, most recently from Ripple and Ethereum.

Where does it go from here?

Personally I don't think that cryptocurrencies will replace fiat currencies in a meaningful way. At least not for a very, very long time. Instead, governments and banks will come up with ways to use cryptos' blockchain technology - the wizardry that makes it all function - to improve fiat currency transaction infrastructure.

That said cryptos will probably have a larger niche than today. But my guess is it will still be a niche, and life will be viciously competitive within that niche. Picking winners and losers will be hard, and the ride will be wildly volatile.

In these bubbly times, here's what I recommend you should do today, depending on your situation:

One final thing. The whole crypto world is a prime location for fraudsters. Crooks swarm towards bubbly markets and the prospect of easy money like flies to doo doo. Always have. Always will. It's even easier to get away with when you can wrap everything up in high falutin' techno babble.

Most crypto websites are packed with serious sounding jargon, ideological fluffiness, pretty pictures and general hype. But a great many provide no or few details of who's involved or where they are in the world. They just hover in the internet ether.

When the greedy humans behind some of them run off with their customers' money, as has happened already and is bound to happen again, there will be little recourse. As with all things, caveat emptor ("buyer beware").

As Bitcoin and the other cryptocurrencies go berserk make sure you ignore the more outlandish claims made by their cheerleaders. Even so there's still a good chance many prices rise substantially in future, even if there's a crash in between. View all cryptos as speculation and good luck if you choose to get involved.

Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

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Bitcoin Goes Berserk - Seeking Alpha

wbur

With guest host Sacha Pfeiffer.

The skyrocketing price of Bitcoin, and the appeal of alternative currencies.

If you bought a thousand dollars worth of Bitcoin in 2010, youd be a multimillionaire today. Alternative digital currencies like Bitcoin were once on the fringe of finance. But theyre gradually gaining acceptance. Theres also Litecoin, Ethereum, Zcash, and others. So-called cryptocurrency has been associated with online crime, but its being embraced by some major retailers and investment firms. This hour On Point: the appeal of alternative currencies. --Sacha Pfeiffer

Paul Vigna, author of "The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order." Reporter for the Wall Street Journal, editor of the Journals MoneyBeat blog. (@paulvigna)

Felix Salmon, senior editor at Fusion. (@felixsalmon)

Ben Lee, digital cryptocurrency enthusiast.CEO and co-founder of the mobile app development company Neon Roots. (@BenLeeNR)

Wall Street Journal:Why Bitcoin Is Surging, Again, Up 130% This Year "Bitcoin traded above $2,200 on Monday, according to the news and research website CoinDesk. That was up about 9% on the day and more than 15% from Fridays closing price of $1,913, which itself was a fresh high. Bitcoin is up more than 130% this year alone, and about 397% from one year ago."

Felix Salmon:The Bitcoin Bubble and the Future of Currency "There are a couple of reasons why the bubble is sure to burst. The first is just that its a bubble, and any chart which looks like the one at the top of this post is bound to end in tears at some point. But theres a deeper reason, toowhich is that bitcoins are an uncomfortable combination of commodity and currency. The commodity value of bitcoins is rooted in their currency value, but the more of a commodity they become, the less useful they are as a currency."

Forbes:The Rise And Fall Of Bitcoin (And The New Kid On The Blockchain) "Nobody is denying that bitcoin was disruptive. It was the first cryptocurrency of its time and has made a humongous splash and thats putting it lightly. Every super-government tried to shut it down and none of them could. J.P. Morgan tried to file patents for the exact technology of bitcoin and failed. Bitcoin is (or was) the cool kid at school that everyone wanted to be friends with but no one was sure how to ask for their number."

This program aired on June 1, 2017.

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The Bitcoin Bubble: Deciphering Digital Currency46:23 - WBUR

Danny Coxof Hargreaves Lansdownsaid: "We have seen a handful of clients asking for the ETN, so its not purely driven by a provider wanting to be listed [on the Hargreaves platform]. We are making it available to self-select investors in the same way we offer access to around 3,000 other exchange-traded funds, notes and commodities."

Hargreaves customers can hold the bitcoin investment in their self-invested personal pension(Sipp) or a normal broking account.

Mr Cox added that Hargreaves already allowed investors to access the Bitcoin Investment Trust. The$389m fund isrun by Grayscale Investments, which specialises in "crypto-currencies".

"By adding self-service, online dealing, the team at Hargreaves Lansdown is providing UK investors with professional and quick access to bitcoin in the UK and greater Europe," saidRyan Radloff, XBT's head of investor relations.

Crypto-currencies came to noticefollowing the launch of bitcoinby a developer under the pseudonym ofSatoshi Nakamotoin 2009. Online currencies are beyond the control of the worlds central banks and allow anonymous transactions. They operate using a digital ledger of transactions known as a blockchain.

The price of bitcoin has surged since the start of the year.Its price indollar terms has more than doubledfrom less than $900 to more than $2,400 today. Currently one bitcoin equals 1,902, 2,145or $2,422, according to CryptoCompare.com.

The currency also hit the headlines last monthwhen the hackers behind the WannaCry cyber attack that took down parts of theNHS IT system demanded ransom payments in bitcoin. The currency has long been linked to the online underworld.

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Britain's largest broker offers bitcoin investment - Telegraph.co.uk

Forbes

'Bitcoin Oracle' Vinny Lingham On Why Bitcoin Is Overpriced Forbes During the episode, he describes how his experience with fraud at his former company, gift card retailer Gyft (which he eventually sold to First Data) helped him understand the advantages of bitcoin and blockchain technology. It also gave him insight ...

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'Bitcoin Oracle' Vinny Lingham On Why Bitcoin Is Overpriced - Forbes