Bitcoin price almost fully recovers from Hong Kong hack-driven losses August 7, 2016 The bitcoin price has recovered almost all of its losses since it plunged last week after hackers targeted the Hong Kong-based exchange Bitfinex. The price of a single bitcoin fell around 20 per cent to $483.10 after it emerged on 2 August that hackers had stolen more than $60m (£46m), or around 120,000 coins, from [...]
As a bitcoin exchange loses $65m in a hack, will the crypto-currency ever be more than an alternative asset? August 3, 2016 Ed MacNair, chief executive and founder of CensorNet, says Yes. While this security breach is a set back, the incident does not necessarily sound the death knell for bitcoin that some are predicting. Any form of currency which exists in digital form – and for that we should read all currency – has a significant exposure [...]
Bitcoin price jumps after remaining at steady level since halving event July 12, 2016 The bitcoin price jumped today to $669 by evening trading, after staying within a mostly stable range since the reward for miners fell 50 per cent last Saturday. On Saturday, the number of bitcoins generated by the digital process known as mining halved. Previously, bitcoins were released in blocks of 25, but they are now released in blocks [...]
European Commission clamps down on cryptocurrency anonymity in bid to tackle terrorist financing and money laundering July 5, 2016 The European Commission has proposed a strict set of rules that would end anonymous cryptocurrency transactions in a bid to crack down on terrorist financing. The commission today said it plans to bring virtual currency exchange platforms under the scope of the Anti-Money Laundering Directive. This will mean exchanges will have to apply due diligence controls to [...]
Bitcoin holds on to its Brexit boost June 28, 2016 The bitcoin price has traded higher since the UK voted to quit the European Union last Friday. The world’s most popular cryptocurrency was trading at $647 at London’s market close today, having fallen below $600 late on Thursday when it looked likely the UK would vote to remain to the EU. Bitcoin hit a high [...]
Bitcoin price stays flat following outage at Bitfinex exchange and huge value fall on Tuesday June 22, 2016 The bitcoin price hovered between $660 (£449) and $670 for much of Wednesday, failing to make more than modest gains after the cryptocurrency fell by 10 per cent in value on Tuesday. By 1pm (GMT), bitcoin was trading just over $663, according to the Bitstamp price index. Last Thursday it reached a more than two-year price high after [...]
Latest surge pushes bitcoin price above $750 barrier June 16, 2016 In another bitcoin price rally the cryptocurrency smashed through the $750 (£530) mark during trading today to reach a 2016 high, after falling below $700 on Tuesday. By mid-afternoon (GMT), bitcoin was still trading up 5.8 per cent at more than $736, after hitting a peak of $750.37 at around 11.30am, according to the Bitstamp index. It was the first [...]
Business leaders believe bitcoin will “fail to become a widely accepted method of payment” June 14, 2016 Business leaders do not believe bitcoin, the world's leading cryptocurrency, will become a "widely accepted method of payment" in future, according to new research. More than six in 10 (61 per cent) respondents to the Smith & William Enterprise Index survey also said they did not see bitcoin as having had a big impact on [...]
All roads lead to China: Surging demand pushes bitcoin above $700 June 13, 2016 The bitcoin price has breached the $700 (£491) mark today, a mere two weeks after the cryptocurrency broke through the psychological $500 barrier for the first time since August 2014. The price of a single bitcoin has hit a high of $703 according to market exchange trader Bitcoinity, while CoinDesk reported a day-high of $706.70 by around 1.30pm (GMT). [...]
The war on cash is raging – should we welcome or fear the death of hard money? June 7, 2016 Cash is no longer king. Although the Bank of England unveiled a new, polymer-coated £5 note last week, the seemingly unstoppable march towards paper-free transactions continues. Electronic payments overtook notes and coins last year in the UK, according to the Payments Council, an industry body representing the banks and card machine industry. They now account for [...]