Monthly Archives: May 2018

Venezuela Offers India Discounted Oil to Boost Petro Confidence

Venezuela has reportedly offered the Indian government a fantastic deal: a 30 percent discount on crude oil imports. The only condition being that the oil must be purchased through the nation’s newly minted cryptocurrency, the Petro. Venezuelan Crisis   The release of the currency comes as Maduro’s government attempts to address a number of pressing financial issues that have pushed Venezuela into a crippling recession. As a nation heavily dependent on oil exports, the dramatic fall in crude oil price hit the South American country especially hard. […]

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Square Made a Meager $0.2 Million From Bitcoin in Q1 2018

Hearing about the whopping figures that bitcoin exchanges are bringing in, one might be led to believe that all businesses in the field are making money hand over fist. Latest figures from Square, however, show that is not necessarily the case. At least not in the short term. Also Read: Bitcoin Is Not Used by Organized Crime Says Hong Kong Government SQ Reports Strong Q1 Square Inc (NYSE:SQ), the developer of the mobile payment app Square Cash, has posted its financial results for the first quarter of […]

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How To Diversify Away Risk In A Crypto Portfolio: Correlation And Variance

Diversifying away risk in a cryptocurrency portfolio could be very difficult, however, research shows us otherwise. Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. Observations of the crypto market give impression that “when Bitcoin sneezes, the cryptocurrency market catches a cold”, – in traditional stock markets this would not be the case. Although there are public companies whose stock movements have strong correlations due to those doing similar […]

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Meitu Founder Announces Accumulation of 10,000 Bitcoins in 2018

Cai Wensheng, the founder of Meitu Inc., a Chinese technology company that makes smartphones and selfie apps, has announced that his bitcoin holdings have reached a personal milestone of 10,000 BTC. Mr. Wensheng also discussed his investments in alternative cryptocurrencies, and compared the present state of the cryptocurrency sector to that of the internet of the early 2000s. Also Read: Bitcoin Is Not Used by Organized Crime Syndicates Says Hong Kong Government Meitu Founder Accumulates Approximately 10,000 in 2018 In a recent interview with entrepreneur Wang Feng, Mr. […]

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Crypto Markets Keep Experiencing Mainly Green After Last Week’s Market Corrections

It’s mainly green in the crypto market today, as most coins show growth after a period of slight market corrections. Thursday, May 3: after a week of some small dips and small growth, the crypto market is firmly back in the green, with Bitcoin (BTC) and Ethereum (ETH) back over the psychological price points of $9,000 and $700 respectively today, May 3. BTC is currently trading around $9,336, up around 1.5 percent over a 24 hour period by press time. ETH is up around 9 percent over […]

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Openbazaar Co-Founder Expresses Frustration Over BTC Fees

The co-founder of Openbazaar, Washington Sanchez, has taken to Twitter to vent frustration with the high fees associated with BTC. Mr. Sanchez expressed regret for his previous BTC “maximalism,” and reinforced Openbazaar’s desire to place a greater emphasis on alternative cryptocurrencies. Also Read: Australia Cracks Down on Misleading and Deceptive Initial Coin Offerings Washington Sanchez Slams BTC Fees Since 2014, Openbazaar has primarily facilitated payments on its platform in the form of bitcoin. In recent days, the company’s co-founder has expressed frustration with the fees associated with BTC […]

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Gartner Survey: 77% Of CIOs Have ‘No Plans’ For Blockchain

Over half of company CIOs surveyed by Gartner have “no plans” to use blockchain technology. Blockchain may be known to 66% of chief information officers (CIOs) but only 22% plan on using it, a new survey from Gartner released May 3 claims. According to the 3138 CIOs who responded to the survey, 14% want to use blockchain as part of their “medium- to long-term planning,” while 8% are eyeing “short-term” implementation. Just 1% are already using blockchain. The results contrast with the general perception of the technology […]

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China National Radio Alleges OKEx Illegally Trading Crypto Futures In China

One of a series of reports on uncovering crypto secrets by China National Radio has alleged that crypto exchange OKEx is operating illegally in China. China National Radio’s (CNR) “Voice of China” program has alleged that the crypto exchange OKEx is illegally working in China with Chinese clients, CNR reports Thursday, May 3. Chinese crypto exchanges have been banned from operating in the country by the government last fall. As of press time, OKEx is the third ranked exchange by 24 hour trading volume on Coinmarketcap, with […]

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Bitcoin in Brief Thursday: Crypto Traders in Troubled Waters

In today’s Bitcoin in Brief – crypto traders are in trouble due to issues with the trading platforms they have trusted. Hacked Italian Bitgrail exchange is closed again after a brief reopening. It suspended operations on request from the court of Florence, following a petition  filed on behalf of one of its creditors. Also, beleaguered Romanian Btcxchange has shut down after multiple setbacks. A local bank recently closed its account. Also read: Bitcoin in Brief Wednesday: Hacker Gets Trolled, Vertcoin Gets Hacked Bitgrail Reopened, then Closed Again […]

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Reddit CTO: ‘I Think Crypto Payments Will Come Back’ To Platform

Crypto payments could return to Reddit once API and “high fees” issues are resolved, its CTO has said. Reddit’s CTO blamed “high fees” for the platform no longer accepting Bitcoin payments in an interview May 2, but hinted they may soon return to the platform. Speaking in an interview with Cheddar, Christopher Slowe said that developers “didn’t have time” to update the Coinbase API used to accept BTC payments. Coinbase is in the midst of retiring its Merchant Tools and replacing them with a new operation titled […]

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