22 Mar

How The Blockchain Network Can Ensure Banking Security

By Daniel Zo Bitcoin, Blockchain, Banks Read Comments

During the last couple of months, banks and financial institutions have continuously showed their interest in bitcoin, for various purposes, such as digitally signing contracts, helping with monetary transfers and more.

Perhaps one of today’s biggest monetary challenges is the presence of hackers. While they cannot crash the entire world economy by ‘deleting’ money, they can cause a great deal of damage to banks and financial institutions by changing what computers think is real and true. This represents the main reason why banks are seeking a system that would guarantee the authenticity of data, by thoroughly analysing it, and keeping records on a ledger. Blockchain technology, which is quickly picking pace, can do exactly this.

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17 Mar

Why The Bitcoin ETF Project Failed

By Daniel Zo Bitcoin, ETF, USA, SEC Read Comments

If you’ve been following recent digital currency news, then chances are that you already know that the Winklevoss-backed ETF Bitcoin securities project was blocked by the US corporate regulator, known by the name of the Securities and Exchange Commission.

This is quite understandable, considering the fact that economic analysts did mention that the chances for approval were fairly low, but thoroughly understanding the reasons is essential to make sure that the project doesn’t fail next time. To put things better into context, the following question should be asked: would you be tempted to invest into an asset that may be illegal now, or sometime in the future?

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15 Mar

The Current State of Digital Currencies in China

By Daniel Zo Bitcoin, China Read Comments

The People’s Bank of China, also known as PBOC, has been in the media’s attention during the last month, as it is currently deliberating the faith of digital currency and digital currency exchanges operating in the Asian country.

A recent digest from the PBOC related on the current Yuan rates, market sentiment, a couple of new developments in the country’s exchange policies, but also changes in the financial market regulations, and Chinese economic data.

Digital currencies are also mentioned, and in this case, it has been stated that bitcoin exchanges are unlikely to become official exchanges in China in the near future. Not only this, as the Chairman of the Bank’s Operation Office, Zhou Xuedong mentioned that a couple of price bubbles were noticed on bitcoin, and that China is in desperate needed of a proper legislative framework concerning Bitcoin trading. Because of this, the regulator will likely introduce a couple of other measures in order to help strengthen the oversight that the PBOC plays above Bitcoin exchanges and platforms operating in China.

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08 Mar

What’s Stopping Bitcoin From Achieving Mass-Adoption?

By Daniel Zo Bitcoin Read Comments

Bitcoin has been around for a good period of time, and most people who have been involved with the digital currency are well-aware of the fact that it is likely to become mainstream one day, and entirely replace the financial system that we’re used to.

Having a larger user base for Bitcoin will likely open up numerous doors, and create better business and investment opportunities, while also increasing the popularity of the cryptocurrency, and of course, its value. In 2013, when Bitcoin first massively grew in size, most people were expecting the coin to become mainstream within a couple of years, or even months. As we’re all aware, its popularity has increased since, but it’s far from being used on a daily basis. Therefore, in this article, we are going to discuss the main factors holding Bitcoin back from being used by billions of people.

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03 Mar

How To Avoid Losing Money When Volatility Takes Over Bitcoin

By Daniel Zo Bitcoin, Volatility Read Comments

During the last couple of months, the value of bitcoin has both increased and decreased substantially, and recently, it has managed to reach an all-new all-time high, which is great news for digital currency enthusiasts from all around the world.

Because of this volatility, most people who have ever held bitcoin, were affected by the value increases and decreases. Common sense tells people to sell the currency when its value is high, to make a profit, and buy the digital currency when the value is low. Regardless of this aspect, most people do the complete opposite, because it is often hard to predict how the value of the digital currency will change over the next couple of days. Therefore, people who have already joined, or are considering the idea of joining the bitcoin train, need to be well-educated on the best practices that need to be followed, to help reduce losses attributed to the currency’s volatility.

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01 Mar

Understanding Banks: The hate for Bitcoin & The love for FIAT

By Daniel Zo Bitcoin, Blockchain, Banks Read Comments

In a world with an unstable financial system, and where bitcoin is slowly, but surely becoming the choice of exchange for millions of people, it is understandable that banks are against bitcoin, but so far, nobody is sure to which extent.

In this article, we will try to cover the main reasons explaining why banks often tend to hate Bitcoin, yet are very interested on its underlying ledger, the blockchain, and its potential on the market.

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21 Feb

What are Bitcoin ETFs and their Possible Influence on the Market

By Daniel Zo Bitcoin, ETF, SEC Read Comments

During the last couple of months, there have been numerous discussions about the upcoming Bitcoin ETFs and their potential to increase the popularity, use, trading activity and price of the digital currency.

For those who do not know, ETF represents an abbreviation that stands for exchange traded funds, which are basically market securities, tacked on an index, such as bonds, commodities and index funds. The main difference between ETFs and other exchange-traded assets consists in the fact that the prices of ETFs constantly changes throughout the day, just like bitcoin’s, based on the trading activity. Not only this, but ETFs also generally offer better daily liquidity alongside with lower fees for mutual funds shares, hence why they are a very attractive alternative for investors from all around the world.

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20 Feb

BTCC Suspends Withdrawals Until the 15th of March

By Daniel Zo Bitcoin, BTCC, China Read Comments

During the last couple of months, the attitude of Chinese authorities towards Bitcoin and Bitcoin Exchanges has become quite offensive, considering the numerous threats made towards exchanges that do not fully comply with the regulations put in place by the Chinese Government.

Recent reports indicate that a couple of major Chinese bitcoin exchanges, including BTCC, will now stop both bitcoin and litecoin withdrawals for a month. This particular suspension will likely last until the 15th of March, as BTCC and other exchanges try their best to comply with the new set of regulations put into place by the Chinese authorities, as a direct crackdown towards exchanges.

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10 Feb

Bitcoin Volatility Influenced by Chinese Investments and Executive Meetings

By Daniel Zo Bitcoin, China, Volatility Read Comments

During the last couple of weeks, bitcoin has once again proven that it remains a volatile digital currency which can be influenced by various world events. China’s influence on the digital currency is also well-known throughout the market, and in just 24 hours, the country has managed to make the value of the currency both grow, and decrease.

To put things better into perspective, China has been making numerous headlines due to the loss in their forex reserves, thus reaching a six-year low recently. Currently, the Asian country only has around $3 trillion in liquid forex assets, which is considerably low for a country as big as China, which also has an over-heated economy. Additionally, the capital outflow restrictions placed by the government are also not helping the economy either.

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08 Feb

Banks and Governments advising against bitcoin in India and Venezuela

By Daniel Zo Bitcoin, Ban, Venezuela, India Read Comments

During the last couple of months, numerous countries have expressed their opinions on digital currencies, such as Bitcoin. Not long ago, there’s been news related to bitcoin from both Venezuela and India, and it’s not positive.

In Venezuela, it seems like the authorities are becoming tired of hearing about the digital currency, and trying to regulate it. In fact, during the last couple of weeks, authorities in the country have managed to arrest a total of 8 bitcoin miners, who were later accused of stealing energy and cybercrime, whereas others were simply selling ASIC mining hardware. Not only this, but the main bitcoin exchange in Venezuela was also forced to close its doors down to future customers, and close their bank accounts as well.

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