Several legacy or traditional financial institutions turn their noses up at Bitcoin with the feeling that the world's most known decentralized cryptocurrency is fraudulent and should be considered as a Ponzi scheme. At the Singapore FinTech Festival, DBS's group chief information officer BS said to CNBC: Bitcoin is a Ponzi…
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Bitcoin
Bitcoin Surges After Square Announces Limited Ability to Buy / Sell the Cryptocurrency
Some chosen users of the Square Cash platform are now able to buy and sell bitcoin. TechCrunch reported this new development from Square, and Square's stock jumped to an all-time high of $41.80 per share. Some of these gains, however, were given up during the trading day. Still, the…
SEC Calls for Auditors to Watch Cryptocurrencies
Wesley Bricker, chief accountant for the U.S. securities, informed the public that his office was looking into cryptocurrencies, coins, and tokens and the way they are traded and exchanged. He advises that private cryptocurrency practitioners make sure their cryptocurrency skills are up to par. Bricker stated that his accounting…
False Reports of Bitcoin Mining Ban in China, Miners Continue, Volume has Fallen
It is rumored that bitcoin and cryptocurrency mining is banned in China. Local miners have stated that although the volume is down, mining is not banned yet. Rumors and Unsubstantiated reports The secret to China’s success in profitable mining operations is cheap electricity. However, Sichuan Electric Power Company released…
Bitcoin Gold Had a Shaky Start, Stabilizes
Bitcoin gold has two goals. Changing mining so ASICs or the most powerful mining computers, are no longer used. Second, BCG was developed to gain more people to bitcoin gold and free the bitcoin network from large companies with undue influence on the market. The start of bitcoin gold was…
Bitcoin Cash Hard Fork Takes Implemented to Ease Mining Complications
Bitcoin Cash is resistant to social and political atttacks on its protocol development. It is claimed that no single group or project will be able to control bitcoin cash. Now, bitcoin cash is going through a planned hard fork, and it is predicted to be successful. Currently, most of the…