South Korean businesses accept ethereum from Olympic guests
Businessam Staff
February 20, 2018
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
Businessam StaffFebruary 20, 2018
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, Overstock.com also […]
Bitcoin price edges upwards as Barclays bans cryptocurrency trading using its credit cards
Businessam StaffFebruary 9, 2018
Barclays is likely to follow other major lenders in the United States in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit. ‘We are making the decision that we will likely no allow cryptocurrency purchases on the card,’ Paul […]
World Bank chief doubts legitimacy of cryptocurrencies, calls bitcoin “ponzi schemes”
Goddey OdinFebruary 9, 2018
Jim Yong Kim, World Bank Group President, has compared cryptocurrencies to “Ponzi schemes,” the latest financial voice to raise questions about the legitimacy of digital currencies such as Bitcoin. The President said Wednesday at an event in Washington that “in terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, […]
Cryptocurrencies to hit zero- Goldman Sachs
Businessam StaffFebruary 7, 2018
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 […]
Bitcoin plunges below $6,000, regulators in focus as U.S. prepares hearing in Senate Tuesday
Businessam StaffFebruary 6, 2018
The rout in cryptocurrencies intensified, sending Bitcoin to its lowest level since October, as worries over tighter regulation by U.S. authorities and central bankers elsewhere gave traders fresh reasons to sell after a brutal start to 2018. The biggest virtual currency sank 11 percent to $6,338 at 9:24 a.m. London time, after earlier sliding to […]
Bitcoin, Ethereum, others fall as major cyber attack hit Japanese cryptocurrency exchange
Businessam StaffJanuary 30, 2018
The six largest cryptocurrencies have all lost value in the last 24 hours. Bitcoin was down 4.6%, Ethereum was down 4.6%, and Ripple’s XRP was down 6.3%. The six largest cryptocurrencies, including the flagship bitcoin, have all sunk in the last 24 hours, according to data from Markets Insider, following a major cyber attack against […]
Cryptocurrencies drop after Japanese exchange halts withdrawals
Businessam StaffJanuary 26, 2018
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, […]
Nigeria’s central bank warns on virtual currencies, says ‘it is like gamble’
Goddey OdinJanuary 25, 2018
Godwin Emefiele, Nigeria’s central bank governor said investing in the cryptocurrency or bitcoin is a “gamble” and hinted it may have to be regulated. Emefiele disclosed this in an interview with Bloomberg in Abuja. According to the governor, in Nigeria, where bitcoin trading grew the most in Africa last year, cannot assure investors that the […]
No legal functions for bitcoin, says Nobel-prize winning economist
Businessam StaffJanuary 24, 2018
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 […]