Bitcoin Soccer Transfer, CoinCheck Hack Update and More

Bitcoin, News and Updates
There is never such a thing as a quiet week in the world of cryptocurrencies, and as you will see, the last seven days has certainly been no exception. We have had everything from a football trade being made with by Bitcoins, the largest ever exchange hacking, a popular altcoin rebranding itself and Kodak doing a U-turn on the proposed launch of its KodakCoin ICO. So, here is what has been happening this week in more detail. Turkish Footballer Purchased With Bitcoin Just this week, the cryptocurrency world saw its first ever sports player transfer that was paid for using Bitcoin. Harunustaspor, an amateur Football club in Turkey, became the first in the world to use Bitcoin as part of a deal to sign a player. That player was Ömer…
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Weekly Cryptocurrency Report For February 1st, 2018

Bitcoin, News and Updates
It has certainly been a rough ride for Bitcoin of late, but when you consider the huge rise in value that it experienced in 2017, there was always going to come a time where a correction was likely. This last week has seen BTC suffer another substantial drop in value and is now at under $10k in value. The value of Bitcoin in our last report was $10,973.96 and unfortunately for anyone holding it, BTC has again fallen in value by just over $1k. It currently sits at $9,872.64 despite seeing a bit of a resurgence on the 28th of January which gave it a weekly high of $12,060.51. Ethereum (ETH) – Things Looking Up Ethereum, on the other hand, is starting to look far less volatile compared to Bitcoin.…
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Cryptocurrencies Bounce Back After Pre-Christmas Decreases

Bitcoin, News and Updates
Friday the 22nd of December began as a worrying time with the majority of cryptocurrencies experiencing price drops. Predictably, these varying degrees of price decreases have since started to show some signs of recovery. The time of year along with the recent surge in prices for many of the leading cryptocurrencies have both been mentioned as the reason for the dip. On a positive note, we have seen some improvement in value since then. This resilience has led to many feeling confident with the current trend in cryptocurrency value showing continued improvements – until the next pullback at least. Bitcoin Bounces Back After Pre-Christmas Blip Bitcoin investors were relieved on the 26th of December after the cryptocurrency's value improved to more than $16,000 after dropping below $12,000 on Friday the…
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Hackers Capitalize on Cryptocurrency Interest

Bitcoin, News and Updates
In recent months, the attention given to the cryptocurrency community has grown rapidly. Though Bitcoin has been leading the charge with its wild price swings, plenty of other altcoins—as they have come to be known—have also gained a lot of attention from people around the world. With an increasing number of people learning about the different types of cryptocurrencies out there on a daily basis, it should come as no surprise that an increasing number of people are creating online accounts and purchasing different cryptos. For many, this is an exciting endeavor, but it is one that must be approached with caution. The reason for this is that there are plenty of hackers out there looking to take advantage of those who have recently gotten involved in the cryptocurrency world.…
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Valve and Steam Cease Accepting Bitcoin as Payment

Bitcoin, News and Updates
If you are a gamer, there is no doubt that you have heard of the gaming software giant Valve. Even if you are unfamiliar with Valve, you have probably heard of the Steam platform that exists thanks to Valve. For those unfamiliar altogether, you will do well to know that Valve and, by extension, Steam have recently announced that they will stop accepting Bitcoin as a payment method for games, devices, and software. With almost 100 million people in Valve’s network, this is pretty big news, especially when you consider that Steam was very excited about utilizing Bitcoin back in Spring of 2016. Unfortunately for Steam users, however, a lot has changed between April of 2016, when Bitcoin was trading for less than $1,000, and now. With the price of…
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Financial Analyst Weighs in On Bitcoin’s Bubble Potential

Bitcoin, News and Updates
Ever since it gained even a shred of popularity and began gaining value, Bitcoin has been labelled as a bubble that will inevitably pop, leaving all investors and backers with nothing. Some of these arguments are rationally derived, and in a way, make sense. Others are flat-out ridiculous conjecture put forth by people who are either in competition with or do not understand Bitcoin. When a well-respected financial analyst weighs in on Bitcoin, however, people tend to listen—and that is exactly what happened this week. Birinyi Associates released a report that compared Bitcoin to some of the largest financial bubbles in history, and the results were interesting, to say the least. An Interesting Comparison Birinyi studied a total of 10 events from history, and out of those 10 bubble events…
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Lightning Can Speed up Bitcoin Transactions

Bitcoin, News and Updates
If you have been paying attention to the news at all in recent months, you know one of the biggest roadblocks preventing Bitcoin from becoming completely and entirely mainstream is the fact that transaction times are egregious, at minimum. Retailers are shying away from adopting Bitcoin due to the fact that it takes, hours, days, and sometimes even weeks for payments to be confirmed on he blockchain. In this digital age, there is no advantage to be gained from waiting longer to receive payments. From the consumer side of things, the elongated transaction times are less attractive than the instant payment methods that have become so familiar. The Lightning Network is something that can help speed up Bitcoin transactions by, in a sense, taking them off the Bitcoin blockchain entirely.…
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Asian Banking Giant Has Harsh Commentary on Bitcoin

Bitcoin, Uncategorized
If you have been watching any sort of news headlines recently, it is evident that Bitcoin is popping up all the time. More recently, the headlines surrounding Bitcoin and other cryptocurrencies has been more negative than it has been positive. With places like China banning exchanges and the emergence of forks in the blockchain, these are tumultuous times. Because of what has happened recently, it should come as no surprise that some of the world’s larger financial organizations have kept their distance. Most recently, it was Asian banking giant DBS whose representatives had nothing but negative things to say about Bitcoin. A Bit of a Ponzi Scheme Chief Information Office of DBS, David Gledhill, spoke at the Singapore Fintech Festival and said that he thinks Bitcoin is “a bit of…
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Bitcoin Avoids Another Interruption

Bitcoin
On Wednesday, a plan to alter the overall design—and by extension functionality—of Bitcoin came to a grinding halt. Supporters of what was being called the “Bitcoin expansion” conceded that they did not have enough support to warrant going through with their plan. What was that plan, you ask? In essence, the proposed expansion would have doubled the amount of time a Bitcoin transaction could be processed, thus speeding up transaction times and ultimately reducing costs associated with those transactions. With lower costs and faster transaction times being proposed, you might be wondering just why there were such vicious and overwhelming opponents. Potential Expansion Problems Those who have been working on the Bitcoin project from day 1, as well as many others, were very vocal about their not supporting an expansion…
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The Rise, or Lack Thereof, of Bitcoin in Africa

Bitcoin, News and Updates
Bitcoin and other cryptocurrencies have really caught on in some interesting parts of the world over the past few years. While it may seem like new places are taking an interest in cryptocurrencies all the time, one large part of the world that has widely neglected the rise of Bitcoin has been Africa. Sure, there are more developed countries such as South Africa and Nigeria who have caught the cryptocurrency bug, but many of the more rural countries have not shown much interest at all. While we have seen small countries such as Tanzania and Ghana begin to see an uptick in cryptocurrency usage, there are many other areas of the continent who have not so much as heard of crypto. This simple fact is perplexing to many because Bitcoin…
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