South Korean businesses accept ethereum from Olympic guests

Cryptocurrency holders at the PyeongChang Winter Olympics can now use ethereum at seven locations in South Korea instead of won. According to a report from the Korea Times, six locations in PyeongChang and one in Gangneung are accepting the digital currency from customers. South Korean app Coinduck, created by blockchain builder Chain Partners, will facilitate the transactions, charging […]

Bitcoin returns over $11,000 as Ethereum founder warns on digital currencies

Bitcoin returns above $11,000 on Monday, continuing a strong rebound after undercutting $6,000 intraday on Feb. 6., after Ethereum’s co-founder warned that cryptocurrencies “could drop to near-zero.” Bitcoin rose 7% to $11,138.33 on Monday, according to Coindesk. Bitcoin retook the $10,000 mark last Thursday. Bitcoin Investment Trust rose sharply last week in sympathy with Bitcoin and other digital currencies, also […]

Cryptocurrencies to hit zero- Goldman Sachs

Goldman Sachs Group Inc.’s global head of investment research said the tumble in cryptocurrencies that erased nearly $500 billion of market value over the past month could get a lot worse. Most digital currencies are unlikely to survive in their current form, and investors should prepare for coins to lose all their value as they’re […]

Cryptocurrencies drop after Japanese exchange halts withdrawals

Cryptocurrencies slumped after one of Japan’s biggest Bitcoin venues halted client withdrawals, spooking investors in a country that’s still wary of digital-token exchanges four years after the collapse of Mt. Gox. Coincheck Inc., based in Tokyo, said in a series of tweets that it had suspended all withdrawals, halted trading in all tokens except Bitcoin, […]

No legal functions for bitcoin, says Nobel-prize winning economist

Joseph Stiglitz, Nobel-prize winning economist said bitcoin serves no useful function, other than circumventing legality. Stiglitz, who has called on bitcoin to be outlawed, told Bloomberg Television from Davos: “We have a good medium of exchange called the dollar.” He argues that regulating bitcoin would mean driving it out of existance, and he thinks that would […]