Tim Draper is a man who needs no introduction in the world of finance as he is a colossal figure responsible for a number of companies that span many business niches. He is also one of the few mainstream finance magnates who has shown open support for Bitcoin, cryptocurrency and blockchain technology in general. His support for the crypto revolution hasn’t just been in words only but he has also demonstrated this support by investing in a number of blockchain-based startups.
There is hardly any doubt that Bitcoin is more than a bit of an economic revelation. The cryptocurrency that was born out of the eponymous 2008 Bitcoin white paper and launched the following year has been catapulted to the forefront of global attention. The emergence of Bitcoin launched blockchain technology and introduced cryptocurrencies to the world. In less than a decade that Bitcoin has been around, it certainly has made the news a lot. One question that has defied any definitive solution has been the puzzle of just how to value Bitcoin. The answer may lie in an approach developed by a Swiss research team.
Amid a documented downturn in volume trading for 2018 across global exchanges, LocalBitcoins has recorded a number of trading volume spikes across various markets since mid-March 2018. Worldwide, the exchange’s volume pushed up to around $75 million for the week ending March 31, 2018.
The big guy from Silicon Valley wants a bite of the crypto pie and has decided that filing a new patent for a Bitcoin mining chip “accelerator” would be the best way to go about it.
How the crypto community reacts to it remains to be seen, but from the outset, it looks as though the chip giant wants to gain their trust by promising more energy-efficient mining.
Thomas Lee is certainly no stranger to the world of finance be it mainstream or cryptocurrency. The former chief equity strategist at J.P. Morgan Chase is the only major Wall Street analyst to issue formal reports on the Bitcoin market. The co-founder of Fundstrat has been unequivocal in his stance that Bitcoin is going to bounce back from its current malaise, even going as far as to predict earlier in the year, a midyear price of Bitcoin in the $20,000 region and an end of year price of $25,000.
A Russian entrepreneur, Vladimir Orehov, has filed a lawsuit against Google in Russia because of the search giant’s restrictions on cryptocurrency-related ads. The entrepreneur is claiming over $34.7 million in compensation from a Russian Google entity ООО «Гугл».
Orehov is claiming that undue prejudice and unfair business practices by Google have denied him the opportunity to invest in cryptocurrency projects and also find venture capital for his own ambitions in the arena.
These days, Mt. Gox is referred to as the defunct cryptocurrency exchange that went bankrupt in 2014 as a result of one of the most devastating crypto exchange hacks in the history of the crypto market. Nevertheless, the saga of the once largest cryptocurrency exchange platform in the world is anything but over. Every now and again, a story relating to Mt. Gox captures most of the headlines in the cryptocurrency community.
TrueEX, one of the major players in the derivatives market is planning to make the move to the burgeoning bitcoin derivatives market. During an announcement on Monday, March 12, 2018, the company said that it wants to begin offering bitcoin as well as other cryptocurrency derivatives.
Bitcoin has many possible use cases, just like cash or any other type of fungible asset. One thing that has become clear in the past year of cryptocurrency-related companies being created is there are many different potential applications of Bitcoin. In the early days of Bitcoin, one constantly highlighted benefit to the cryptocurrency was the simplicity of dealing with cross-border payments. People would always say it was great for facilitating capital flight in countries that were normally extremely restrictive, like China. But one use that is now coming to receive lots of interest is remittance payments.
Although blockchain technology is extremely current and typically associated with the millennial generation, South Korea is demonstrating that the association is not necessarily valid, even when it comes to virtual currencies.