JP Morgan CEO Sounds Off on Bitcoin Legitimacy

Bitcoin
In the past, we have discussed both people singing Bitcoin’s (and other cryptocurrency’s) praises while at the same time pointing out those folks who are still not convinced of its legitimacy. Today, it was reported that CEO of JP Morgan Chase, Jamie Dimon, referred to Bitcoin as a fraud, and went on to say that the cryptocurrency is primarily used by drug dealers and other criminals. In addition, he said that those invested in it would have their investments blow up in their faces.  It is no surprise that Dimon chose now to be so vocal about his opposition of Bitcoin, as the price of the crypto has suffered this week thanks to rumors concluding that Chinese exchanges may be halted by authorities, at least temporarily. Strong Words, Stronger Influence…
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Cryptocurrency Investors Concerned China May Shut Down Exchanges

Bitcoin, News and Updates
Before getting into the nitty-gritty, it is important to note that there is but one source claiming that China is on the verge of shutting down exchanges in the country. While one unconfirmed report might usually not be enough to cause any amount of stir, the fact that China, one of the biggest users of cryptocurrencies as far as countries are concerned, may go radio silent is very concerning. What’s more, it begs the question of, if Bitcoin (Or Ethereum, BlackCoin, etc.) is unable to be exchanged in China, does it have value? The unresolved nature of this question has been driving some users away from Bitcoin and other cryptocurrencies.  Since this report broke yesterday, the price of most major cryptocurrencies has been and continues to be negatively affected. What’s…
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Dubai Apartment Complex to be Priced in Bitcoin

Bitcoin
If you have been following the cryptocurrency world, or more specifically the Bitcoin world, you are likely well-aware of the fact that one of the biggest problems facing Bitcoin was the lack of people and retailers adopting it. Seeing as you are not able to use Bitcoin to make purchases in a large majority of settings, there began to arise some very real concerns regarding whether Bitcoin was actually a currency, or simply an investment vehicle similar to stocks.  A somewhat large development on this front emerged this week when a Dubai firm announced that the apartments and condos in their new skyscraper were able to be purchased with Bitcoin. A Major Step for Cryptocurrencies The $325 million apartment neighborhood spans more than 2 million square feet and is comprised…
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Experts Warn of Bitcoin’s Volatility

Bitcoin, News and Updates
Whether you have been following Bitcoin (and other cryptocurrencies) from the time it was incepted or are just getting into the realm now, one of the first items you will learn is of the sheer volatility inherent in it. While things like stocks and fiat currencies all have ever-changing values, the US Dollar and major stocks see their value fluctuate marginally, with only those who have massive holdings seriously impacted by such small movements.  With regard to Bitcoin, however, we have seen in recent weeks that the price of the currency is subject to massive swings that can affect the large volume investor and small time investor alike. For those who may be interested in making a quick buck off of these price movements, some experts have warned folks to…
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A Word of Caution from the Founder of Bitcoin Foundation

Bitcoin, News and Updates
Llew Claasen, founder of the Bitcoin Foundation, urged prospective investors that they should enter the cryptocurrency world with caution. For those who may be unaware, the Bitcoin Foundation is a non-profit that, basically, advocates for the use of Bitcoin and other cryptocurrencies for people the world over. Understanding this, it makes sense that Claasen’s caution came at a TEDGlobal conference that was taking place in Tanzania. The conference itself was meant to address the potential benefits of Africans gaining more access to Bitcoin. A Fair Warning Being that many Africans do not have access to traditional methods of banking, or are simply wary of the moves their government might make to manipulate currencies, Bitcoin is seeming like an increasingly viable option. According to Claasen himself, “It [Bitcoin] offers people a…
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Cryptocurrency in South Korea: A Roller-Coaster Love Story

Bitcoin, News and Updates
The global cryptocurrency market has really been heating up in recent years, and especially through the first three quarters of 2017. With the Bitcoin Fork, the rise of cryptocurrencies like Ethereum, and global geopolitics driving demand, we are, quite literally, seeing cryptocurrencies breach the mainstream once and for all. While most people think of places like China and Japan when they think of global cryptocurrency leaders, many people forget that South Korea is absolutely crazy over crypto. Gaining Trust, Availability, and Recognition One of the propellants that has launched cryptocurrencies to the front and center of Korean society is the fact that it isn’t just single users making Bitcoin and Ethereum trades, but also big banks, large corporations, and even the government. Yes, you read that correctly, the South Korean…
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Bitcoin Cash’s Problems, and What It Might Mean for Most Other Cryptocurrencies

Bitcoin, News and Updates
On the 1st of August, 2017, the cryptocurrency world was changed forever. It was on this date when Bitcoin’s blockchain—the fundamental structure that supports and drives the network—was split into two, creating a new cryptocurrency, called Bitcoin Cash (BCH), that stood side-by-side BTC. At the core of this “solution” was a need for faster processing of payments/exchanges, and that is exactly what the end-result has been. While the world of Bitcoin users did not immediately change all that much, some of the folks who opted to try out Bitcoin Cash were a little bit let down, to say the least. The problems facing these users have persisted through the 2+ weeks of BCH’s existence, and the problems being faced might serve as a horoscope for what we can expect in…
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Fidelity Opens Door to Bitcoin Legitimacy

Bitcoin, News and Updates
Only a few weeks ago, the debate was whether the hard fork—splitting Bitcoin into separate entities: Bitcoin and Bitcoin Cash—would mean the death of the pioneering cryptocurrency, or if it would open up the door to a new future. Though that debate has not quite yet been solved, we are quickly seeing that Bitcoin is here to stay.  In the midst of all the tumult surrounding the Bitcoin fork and the rise and rapid fall of Bitcoin Cash, there was an announcement made by Fidelity Investments, an announcement that has been long-awaited by fans of Bitcoin and cryptocurrencies in general. Today, Fidelity announced that it would begin tracking Bitcoin for those utilizing its services. So What Does This Mean? According to an official statement released by Fidelity, they are going…
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Coinbase Investors Think Ignoring Bitcoin Cash the Right Move

Bitcoin, News and Updates
The world of cryptocurrencies is one where tumult is the norm, and calm is unusual. Such has never been truer than it has been over the past few weeks, as Bitcoin and its byproduct—Bitcoin Cash—set out on entirely new paths. For those who might be blissfully unaware of what is going on, there is a new cryptocurrency of sorts that was borne out of Bitcoin. The need for the additional form of currency came about as transaction times for Bitcoin became bogged down due to popularity combined with the fact that retailers were scared off by these longer transaction times. In need of retail adaptation and more widespread use, something had to be done. Since the launch of Bitcoin Cash earlier this week, a lot has happened, but perhaps one…
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Litecoin Demand Surges

News and Updates
To an extent Litecoin is the forgotten coin. It does what bitcoin does, a little bit faster. It is nothing compared to Ripple and Ethereum, which have many more applications and use cases, or even DASH, which offers instant transactions and complete anonymity. It does not seem as exciting as the concepts being introduced with all the new cryptocurrencies. The Litecoin Revival But there has been a recent surge in Litecoin demand. June of 2017 saw the installation of 91 Litecoin ATM machines worldwide, with 78 installed in May. The UK, the US and Canada are the main points of demand and installation, with the US having the largest share of Litecoin ATM’s. Litecoin is the leader in the number of cryptocurrency ATM’s. The price of Litecoin was a mere…
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