Bitcoin dips US$2,000 after US regulators halt share trading in The Crypto

Businessam StaffDecember 20, 2017

Bitcoin prices plunged US$2,000 within one hour to below US$16,000 on Wednesday morning, before paring losses, after the US stock regulator suspended share trading of a cryptocurrency company on concerns about potential stock manipulation. Bitcoin plummeted from US$17,656 to US$15,577 between 7.45am to 8.45am Hong Kong time, before paring losses by noon, according to the […]

Good news! You are a Bitcoin millionaire. Bad news! You forgot your password

December 19, 2017

Distraught investors go to extreme lengths to recover their lost cryptocurrency, including hypnosis and ‘brute force’ attacks with a supercomputer What’s worse than missing out on bitcoin’s 1,900% rally? Not being able to access your windfall because you forgot your bitcoin password. Many who bought bitcoin years ago now find themselves sitting on an untouchable […]

Bitcoin booms in Nigeria as business users, speculators rush in

Businessam StaffDecember 19, 2017

In July 2016, Manasseh Egedegbe, an Abuja-based investment manager, was caught in the crosshairs of Nigeria’s dollar crunch and had some difficulties making an international payment. At the time, with Nigeria’s foreign reserves and revenues shrinking amid an economic slump, the Central Bank of Nigeria (CBN) put up currency controls to restrict access to dollars. For Egedegbe, […]

The 4 biggest misconceptions about bitcoin

Businessam StaffDecember 14, 2017

Historically, no asset has been better at making investors money over time than the stock market. Looking back decades, stocks tend to average an annual return of 7%, inclusive of dividend reinvestment and adjusted for inflation. This beats out commodities like oil and gold, income options like bonds and CDs, and it handily trounces the […]

Litecoin creator issues stern warning after cryptocurrency doubles in single day

Businessam StaffDecember 13, 2017

Cryptocurrencies have exploded since bitcoin futures began trading in Chicago over the weekend. Litecoin, the fifth-largest coin by market-cap, has seen its value more than double since Sunday afternoon, trading above $300 Tuesday morning — 110% above its weekend price. Creator Charlie Lee wasn’t celebrating like some other Litecoin holders, though. The former director of engineering at crypto […]

Bitcoin breaks CBOE as futures up 20% after launch, trades at $18,210

Businessam StaffDecember 11, 2017

Within three hours after its listing of bitcoin futures, the website and online trading platform of the Chicago Board Options Exchange (CBOE) were inaccessible, due to an unexpected spike in demand and volume. According to Yuji Nakamura, a Tokyo-based technology journalist, CBOE bitcoin futures processed $401,600 worth of trades within the first 20 minutes. Upon […]

Bitcoin futures go live, could change the game for cryptocurrencies

Businessam StaffDecember 11, 2017

Cboe Global Markets, the Chicago-based exchange group, will be the first exchange to launch bitcoin futures. And you can be sure Wall Street will be watching. CME Group, Cboe’s cross-town rival, will launch its market later in December. And Nasdaq is preparing for a launch for the second-half of 2018. The new product by Cboe […]

France endorses blockchain for trading unlisted securities

Businessam StaffDecember 10, 2017

France is to begin trading unlisted securities using blockchain technology, a revolutionary move that will see middlemen such as brokers and custodian banks removed from the trading process. The changes were announced by French Finance Minister Bruno Le Maire and will come into force in July next year. It will only apply to non-listed securities […]

Austrac gets the legal nod to monitor Bitcoin, Ethereum exchanges

Businessam StaffDecember 9, 2017

The Australian Transaction Reports and Analysis Centre (Austrade) will be monitoring cryprocurrency exchanges after the Australian Senate passed the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 on Thursday. The amendment bill, which was introduced in August, was approved by the House of Representatives on Wednesday, and took the Senate one day to pass. Under the amended legislation, […]