Category Archives: Bitcoin

Bitcoin price gains another $100 in another day of trading, surging ahead to dizzying new heights with bitcoins value now at touching distance of $1,600 (Bitstamp).

Data from the Bitstamp Price Index shows trading prices topping at an all-time high of $1,596.2 on Thursday.

Bitcoins price chart over the last week.

This time yesterday, prices were fast approaching $1,500 for the first time in bitcoins history, and the significant milestone was scaled around 21:00 (UTC). Led by significant trading volumes in Japan followed by the United States, prices continued to surge ahead above $1,550 through Thursday.

At 15:00 on Thursday, prices reached above $1,575 before peaking at $1,596.2. At the time of publishing, bitcoins value is within range of its next milestone, trading at $1,590.59

Altogether, bitcoins value has gained over 20% in the first four days of May. Bitcoins market cap is quickly approaching $26 billion.

The wider digital currency market, led by bitcoin, is now valued at over $42 billion.

For a live Bitcoin Price chart, clickhere.

All time references are in UTC (Coordinated Universal Time).

Charts from BitcoinWisdom and CoinMarketCap.

Image from Shutterstock.

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Newsflash: Bitcoin Price is Within $5 of $1600 - CryptoCoinsNews

Africas lack of financial inclusion is an immense nagging headache. Throughout the continent, there are nearly 80% of the adult population who are unbanked.

Aside, inflation continues to cripple businesses and dwindle wealth creation. The phenomenon keeps wiping the middle class pushing many to the economic fringes.

But thanks to Satoshi Nakamoto and the many others who followed his footsteps, the advent of Bitcoin and other cryptocurrencies offer unprecedented opportunities to Africans to participate in the global economy. It is also a tremendous chance to engage in cross-border trade without the costly involvement of third parties.

As an African Fintech journalist, Im embarking on a journey to six Southern African countries, to be precise Angola, Botswana, Namibia, South Africa, Zambia and Zimbabwe to promote Bitcoin/Blockchain and write about its communities. I will highlight how Cryptocurrencies are impacting on the lives of individuals and communities.

With Tawanda Kembo, aka Zimbabwes King of Bitcoin in Harare

Throughout my journey, the Crypto community can identify business and investment possibilities. Engaging business people on how to leverage bitcoin and the Blockchain to provide goods and services is a priority throughout the routes.

As a matter of fact, Meet-Ups have been lined up in the national capitals and the second largest cities of all the nations involved to educate the populace. I will walk the streets of these African cities, towns, villages and hamlets, testing the knowledge of the people about Bitcoin and altcoins.

Merchant acceptance of Bitcoin is very crucial in pushing adoption, and in all these countries it is only South Africa where businesses accepting Bitcoin is visible. Of course, I will be courting merchants to accept Bitcoin as a form of payment.

On Sunday afternoon, I left my native Ghana to Harare in Zimbabwe, where the journey begins, via Kigali, Rwanda. The flight was a pleasant one, and Im strongly convinced the Rwandans are planning and working hard to take over the palpably mediocre African aviation market.

Checking my emails at the Great Seasons Hotel in the city of Kigali in an overnight transit stay on Sunday night, I realised my Airbnb bookings for Harare has been cancelled, the processing of my debit card did not go through. In fact, I had little cash and a couple of debit cards on me, and my intention is to use Bitcoin for all my expenses where possible.

I started panicking, Zimbabwe is cash strapped and this journey is being done on a shoestring budget. My crypto friends in Zimbabwe have assured me I can always redeem Bitcoin for cash from Bitfinance, the Southern African countries only Bitcoin Exchange and Blockchain Infrastructure company. Something needed to be down immediately before embarkation on Monday morning to Harare.

A good friend in Colorado who was online at that time decided to send me funds to be picked in Harare via Western union. I was a bit relieved and poised to continue the journey again.

However, when I finally arrived in Harare, it was a public holiday and all the banks were closed in toto. I cant access the funds sent through western union. None of the ATMs will accept the couple of debit cards I have either.

From all indications, I was stranded with only $40 in my pocket and three debit cards no bank around the airport will accept. It then dawned on me I have loaded some Bitcoin on my CryptoPay Virtual Visa Card a couple of weeks ago. I decided to use that to book accommodation on Airbnb. Franky speaking barely an hour later, this was through and my host a kind-hearted man has offered to pick me from the airport to a posh Harare residential home was on his way.

After a hot shower at my lodgings, I called my friend the ingenious Tawanda Kembo of Bitfinance, whom I have nicknamed Zimbabwes King of Bitcoin from my host family phone. He sent me cash via mobile money after sending him Bitcoin.

Thank you, Bitcoin for saving me from the mildly cold streets of Harare. Read CryptoCoinsNews for regular (possibly daily) updates on my journey Across Africa With Bitcoin. You can support this journey by sending some Satoshis to this address:1GZQhtC15GVkq3eWwNrwYz9BCfDd3MmMo5.

Featured image of Harare from Shutterstock.

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How Bitcoin Saved Me In Cash Strapped Zimbabwe - CryptoCoinsNews

LONDON Bitcoin surged to an all-time high above $1,400 on Tuesday, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan, where the digital currency has been deemed a legal means of payment.

Cryptocompare, a data website that analyses bitcoin trading across dozens of exchanges globally, said around 50 percent of trading volume over the past 24 hours had been on the bitcoin/Japanese yen exchange rate.

"The Japanese have recently warmed their approach towards bitcoin by treating it legally as a form of payment - a ratification and bringing into the regulatory fold," said Charles Hayter, the website's founder.

"China's clampdown on exchanges can also be seen as a positive move for the industry too," he added.

Chinese authorities have increased scrutiny of exchanges this year and have forced them to start charging trading fees, after becoming concerned about bitcoin speculation and its potential use in money laundering.

Bitcoin surged as much as 3 percent on Tuesday on the Europe-based Bitstamp exchange, where trading is dollar-denominated, to hit $1,437 BTC=BTSP, its highest since its 2008 launch. That marked a more than 200 percent increase from its price in early May last year.

Its current levels put the total value of all bitcoins in circulation - the so-called "market cap" - close to $25 billion, putting its worth on a par with a large-cap company.

Bitcoin analysts said the price had also been boosted by a request by the BATS exchange that the U.S. Securities and Exchange Commission review its March decision not to approve a bitcoin-tracking ETF set up by the Winklevoss brothers.

(Reporting by Jemima Kelly, editing by Nigel Stephenson)

WASHINGTON The U.S. National Security Agency collected more than 151 million records of Americans' phone calls last year, even after Congress limited its ability to collect bulk phone records, according to an annual report issued on Tuesday by the top U.S. intelligence officer.

SAN FRANCISCO Apple and Facebook may expand their already outsized share of U.S. technology revenue when they report their earnings this week, as investors look for evidence to justify this year's U.S. stock market rally.

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Bitcoin soars above $1,400 to all-time high | Reuters

Investopedia

The Surprising Reasons For Bitcoin's Rising Price Investopedia The price of Bitcoin went up by over 210% during the past year, trading from about $450 in mid-2016 to record-breaking levels of $1,400 in May 2017. In the eight years since its founding, Bitcoin has braved skepticism, rejection, and experienced ... Here's Why Russia Opens The Door To CryptocurrenciesValueWalk all 3 news articles »

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The Surprising Reasons For Bitcoin's Rising Price - Investopedia

Bitcoin surged to an all-time high above $1,400 on Tuesday, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan, where the digital currency has been deemed a legal means of payment.

Cryptocompare, a data website that analyzes bitcoin trading across dozens of exchanges globally, said around 50% of trading volume over the past 24 hours had been on the bitcoin/Japanese yen exchange rate.

"The Japanese have recently warmed their approach towards bitcoin by treating it legally as a form of payment - a ratification and bringing into the regulatory fold," said Charles Hayter, the website's founder.

"China's clampdown on exchanges can also be seen as a positive move for the industry too," he added.

Chinese authorities have increased scrutiny of exchanges this year and have forced them to start charging trading fees, after becoming concerned about bitcoin speculation and its potential use in money laundering.

Bitcoin surged as much as 3% on Tuesday on the Europe-based Bitstamp exchange, where trading is dollar-denominated, to hit $1,437, its highest since its 2008 launch. That marked a more than 200 percent increase from its price in early May last year.

Its current levels put the total value of all bitcoins in circulation - the so-called "market cap" - close to $25 billion, putting its worth on a par with a large-cap company.

Bitcoin analysts said the price had also been boosted by a request by the BATS exchange that the U.S. Securities and Exchange Commission review its March decision not to approve a bitcoin-tracking ETF set up by the Winklevoss brothers.

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Bitcoin Is Soaring Above $1400 to Another All-Time High - Fortune

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On Monday, and for the first time ever, bitcoin was worth over $1,400.

While the days high was $1,422.22 according to CoinDesk, trading at the time of writing was closer $1,413, up 4.88 percent for the day, up 42 percent from the start of 2017 and up a whopping 215 percent from this time last year.

If theres any probable cause for the rise, its likely that the SEC recently announced plans to review last months rejection of the proposed Winklevoss Bitcoin ETF.

At the time, the SEC nixed listing the twins ETF on the Bats BZX Exchange due to lack of oversight, regulation and the potential for fraud in the broader bitcoin space.

The SEC looks to address the Bats petition for review and has opened up for comment for or against before May 15. Though, since not much has changed for bitcoin in the way of regulatory overhaul in the past few months, it doesnt seem likely that the SECs previous decision will be overturned.

The rise in price comes at a point in bitcoins story when exchanges are experiencing service disruptions due to banks pulling out of high-risk areas the case with Bitfinex, BTC-e and OKCoin International.

The situation at Bitfinex led to a notable widening of exchange spread. This has held pace alongside the value spike. At the time of writing, BTC traded at over $1,520 on the Hong Kong-based exchange.

For now, traders can rest at least somewhat assured that this isnt going to turn into another Mt. Gox. By the numbers, Mt. Gox traded between 10 to 26 percent higher than its competitorsin its final days. Though the potential for arbitrage at Bitfinex is still a concern.

Elsewhere in the ecosystem, a number of Chinese exchanges are still halted a month and a half after they were due to unfreeze digital currency withdrawals, as talks continue with the Peoples Bank of China (PBoC).

While service upgrades have been completed, exchange officials and the PBoC are still at odds over the know-your-customer rules to be enforced on reopening.

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Bitcoin Breaks $1,400 | PYMNTS.com - PYMNTS.com

A year ago, one Bitcoin could be had for about $450. On Thursday, the cryptocurrency peaked at just over $1,340, as measured by the Coindesk price index , before retrenching slightly to $1318 by this morning. Thats still a return of nearly 200%.

Bitcoin has seen a remarkably steady rise since early 2016, fueled by global regulatory normalization , broad interest in the technology from enterprises and banks , and rising transaction volumes. Cryptocurrency analysts, according to Coindesk, think the trend will continue , citing among other factors that most Bitcoin investors are long-term bulls who will take profits conservatively.

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But the very transaction volume that is Bitcoins key fundamental also presents a serious medium-term threat, as the system has struggled to keep up. Transaction speeds have become impractical for merchant payments, and fees have risen, making the system less competitive with conventional payment systems such as credit cards. Struggles over how to fix the problem have raised the spectre of a network split though that could, at least theoretically, give holders additional value in a manner akin to a stock split.

Bitcoin had a notable previous peak of around $979 way back in November of 2013 (Coindesks number seems conservative here Coinmarketcap records a 2013 peak of $1149). That push was fueled by a wave of mainstream media attention, but prices slumped through 2015 on the realization that the techs promise would take some time to fulfill, dipping as low as $204 that August.

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Bitcoin Hits New All-Time High | Fortune.com - Fortune

This is another validation for Bitcoin as a new global currency.

The Caribbean has always been an interesting region for cryptocurrency. Bitcoin and consorts can make a big impact in this part of the world over the coming years. The Cabinet of Antigua & Barbuda is looking to regulate Bitcoin usage in the coming months. The local Attorney General is tasked with drafting allows for the implementation of Bitcoin. An intriguing development, that much is certain.

It is refreshing to see legislators take an open-minded approach to Bitcoin and cryptocurrency. The Cabinet of Antigua & Barbuda wants to draft new laws pertaining to Bitcoin usage. However, it does not appear the government wants to hinder the use of cryptocurrencies in any way. Instead, they want to give Bitcoin legal recognition, which is beneficial to the status of this popular cryptocurrency on a global scale.

The decision is a result of a meeting between the Cabinet and representatives of the Antigua Leisure & Gaming Association. As a result of this meeting, Antigua & Barbuda think highly of Bitcoin as of right now. New developments are taking center stage in the region, that much is certain. Moreover, the nation wants to be a trendsetter in the Caribbean. Embracing innovative technology is an excellent way to maintain that status.

Since Bitcoin is an immutable currency, it is of keen interest to the local government. Moreover, anyone can trace Bitcoin transactions at any time without needing special software or access. In fact, the government sees Bitcoin as an ally when it comes to fighting tax evasion efforts. An intriguing train of thought, considering other countries see Bitcoin as a way to facilitate money laundering and tax evasion.

Minister of Trade and Consumer Affairs EP Chet Greene stated:

The currency benefits us in Antigua & Barbuda in respect to our Internet gaming sector. It will allow us the satisfaction needed as a jurisdiction in respect to questions that would be asked of us in the Global Environment.

This is another validation for Bitcoin as a new global currency. Japan and South Korea have been looking favorably on Bitcoin as of late. More countries giving cryptocurrency legal status are quite an intriguing development, to say the least. Things are changing in favor of Bitcoin, that much is certain.

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Bitcoin Will Soon Gain Traction in Antigua & Barbuda As Government Proposes to Draft new Laws - newsBTC

In the end, it is good to learn the woman was unharmed despite her being kidnapped.

Bitcoin and other cryptocurrencies are often used in criminal activity. While most of these attacks take place on the Internet, Bitcoin also has an allure for regular criminals. In Brazil, a few men kidnapped a 32-year-old woman this week. In exchange for her release, they demand a bitcoin payment. Luckily, the Civil Police was able to defuse the situation without money changing hands.

It is rather intriguing to learn regular criminals want a Bitcoin payment. That is very strange, considering bitcoin is anything but an anonymous cryptocurrency. In fact, one can argue bitcoin should never be used for criminal activity whatsoever. All transactions can be tracked in real-time without special software. Transactions always leave a digital trail, which is the last thing criminals want.

Then again, a few thugs in Florianopolis, Brazil, thought otherwise. Earlier this week, they kidnapped the wife of a local businessman. In exchange for her release, they asked for an undisclosed Bitcoin payment. The businessman alerted the Civil police to this incident, who were able to extract her from the criminals claws successfully. In the end, no money changed hands, yet it makes for a remarkable story.

It is the first time criminals ask for a cryptocurrency payment when kidnapping someone in Brazil. The goal was to have the husband pay up a sum of bitcoin in exchange for his wifes release. However, demanding a payment in virtual currency is very risky at best. It is impossible to streamline such a deal, as there are many variables to take into account. Buying Bitcoin in Brazil, for example, is not impossible, yet very difficult for a lot of people.

The husband successfully negotiated with the criminals in an effort to delay the payment. Interestingly enough, the Civil Police was successful in determining the location where his wife was being held. It remains unclear how this was achieved exactly, though. It is possible for criminals observed their target for some time before striking. Regardless of their preparation, the venture was unsuccessful. This goes to show cryptocurrency and criminal activity do not make for a good mix whatsoever.

In the end, it is good to learn the woman was unharmed despite her being kidnapped. The Civil Police is still conducting the investigation as we speak. So far, six potential criminals have been identified as part of this operation. Only one person is arrested at this time, although that number may increase over the coming weeks.

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Brazilian Criminals Kidnap Woman And Demand a Bitcoin Payment - newsBTC

Bitcoin and cryptocurrency have become quite popular investment vehicles as of late as well.

It is evident mainstream traders are paying more attention to cryptocurrency. Not only are they looking at bitcoin and altcoin prices, but app developers are doing so as well. Stockfolio, a rather popular app among mainstream traders, added bitcoin price support. Additionally, they now also list some of the top altcoins. An interesting decision that may bring cryptocurrency to the mainstream.

Every time a major app adds cryptocurrency support, there is cause for celebration A lot of people on the planet remain unaware of bitcoin and altcoins. In some cases, that is due to sheer ignorance. On the other hand, there is very little mainstream attention for cryptocurrency as a whole. It is up to individual trading apps to change all of that.

Stockfolio, an application exclusively available on OSX, has done exactly that. Users who update their client will now have access to cryptocurrency information as well. Keeping tabs on the Bitcoin price is now a possibility, as well as the value of prominent altcoins. It is interesting to see investment apps pay attention to cryptocurrency at this point in time.

One caveat is how the app costs US$11.99. That is a bit of a steep price for an investment application. Then again, major traders need apps like this to keep track of their stock portfolio. At this rate, bitcoin may become part of these portfolios as well. Diversification remains key, as always. Bitcoin and cryptocurrency have become quite popular investment vehicles as of late as well.

As of right now, two altcoins are supported by Stockfolio. Both Ethereum and Litecoin prices are tracked in real-time. Moreover, there is also a built-in news feed for cryptocurrency news. All things considered, the Stockfolio app adds the necessary tools to keep tabs on cryptocurrency. Whether or not traders will invest in this market, remains to be seen.

It is good to see Apple approve these app updates related to cryptocurrency. The technology giant has a bit of a rocky history when it comes to bitcoin and altcoins. However, it appears the situation is slowly improving. It is not unlikely more financial apps will focus on cryptocurrency support in the future.

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Stock Portfolio App Stockfolio Adds Bitcoin and Altcoin Price Support - newsBTC