Cryptocurrency

Zinoz
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Re: Cryptocurrency

Postby Zinoz » Mon Jan 15, 2018 4:43 am

Regulation
Because of its anonymous nature, bitcoin can be used for black market transactions, illegal activity such as money laundering and even for tax evasion purposes. It poses a challenge for those countries which have exchange control laws. For this reason, the governments of some countries have shown concern. Some have banned bitcoin. China banned cryptocurrency exchanges from operations in the first week of September 2017. Some countries have issued warnings but have stopped short of banning bitcoin. Most governments of developed nations recognise bitcoin as being legal but the mode of regulation tends to vary among nations.



Shark I don't agree on the above statement.
Block chain is a permanent record and easily traceable.

FBI uses Blockchain to investigate crime !!!

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sashimaal
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Re: Cryptocurrency

Postby sashimaal » Mon Jan 15, 2018 9:00 am

Blockchain in general can be traced but coins such as Monero are based on privacy and decentralization using specific algorithms and protocols and i don't think can be traced
"Knowledge is being aware of what you can do. Wisdom is knowing when not to do it" - Brian Tracy

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Re: Cryptocurrency

Postby PAT » Sun Jan 28, 2018 11:19 pm

Live Today........
Without compromising your ability to Live Tomorrow……… :)

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Blue Whale
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Re: Cryptocurrency

Postby Blue Whale » Mon Jan 29, 2018 7:09 am

Thanks PAT. the article ending sentence is the most important statement to me.
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Re: Cryptocurrency

Postby Edmond » Thu Feb 01, 2018 11:33 pm

Bitcoin Hits Low for Year as Laundry List of Concerns Increases
Cryptocurrency News1 hour ago (Feb 01, 2018 11:31AM ET)
2
© Bloomberg. A bitcoin logo sits on a LL 1800W power unit supplying cryptocurrency mining machines at the SberBit mining 'hotel' in Moscow, Russia, on Saturday, Dec. 9, 2017. Futureson the worlds most popular cryptocurrency surged as much as 26 percent in their debut session on Cboe Global Markets Inc.'s exchange, triggering two temporary trading halts designed to calm the market.© Bloomberg. A bitcoin logo sits on a LL 1800W power unit supplying cryptocurrency mining machines at the SberBit mining 'hotel' in Moscow, Russia, on Saturday, Dec. 9, 2017. Futureson the worlds most popular cryptocurrency surged as much as 26 percent in their debut session on Cboe Global Markets Inc.'s exchange, triggering two temporary trading halts designed to calm the market.
(Bloomberg) -- Bitcoin slumped to its low for the year after seeing more than $44 billion in market value lost during January amid mounting concerns of increased regulation and the viability of the cryptocurrency.
After reaching a record high of $19,511 on Dec. 18, Bitcoin has lost more half its value as the digital token has been weighed down by expectations of more government oversight globally, fears of price manipulation, the susceptibility of exchanges to hacking and lingering concern that it’s all just an asset bubble. Facebook (NASDAQ:FB) announce a ban on cryptocurrency ads this week.
Bitcoin declined as much as 8.7 percent today to $9,100, the lowest since November, in part on concern India may crack down on cryptocurrencies. That follows a spate of recent negative headlines, including a $500 million heist from a Japanese cryptocurrency exchange.
"News about India potentially cracking down on cryptocurrencies added to an already bad week in terms of headlines," said Andrew Se, cryptocurrency trader and co-founder of research website Cryptoprofile.com. “We’re still correcting as the rally had gone too far."
Bitcoin’s dizzying 1,400 percent ascent last year, which created $200 billion in new wealth for investors, has made its 30 percent fall in January all the more painful. The $44.2 billion in market value lost last month is by far a record for the digital currency, whose entire market cap hadn’t come close to that amount until 2017, according to price data from Coinmarketcap.com.
India’s Finance Minister Arun Jaitley told lawmakers in New Delhi on Thursday the country doesn’t consider cryptocurrencies legal tender “and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system,” while it will explore the use of blockchain technology.
While major U.S. exchanges launched Bitcoin futures contracts in December, there has been a push back elsewhere. South Korean banned anonymous trades and is considering a ban on exchanges, a move China already took last year.
Naeem Aslam, chief market analyst at TF Global Markets in London said regulatory news are a long-term positive.
“Regulatory pressure is only a blip,” he said. “Speaking with investors, they are comfortable that now we have some regulatory framework around this, this doesn’t deter them but only foster their confidence in the technology.”

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Re: Cryptocurrency

Postby Edmond » Thu Feb 01, 2018 11:39 pm

German president warns on cryptocurrencies
Technology27 minutes ago (Feb 01, 2018 12:40PM ET)

© Reuters. The President of Germany Frank-Walter Steinmeier arrives at Buckingham Palace, London© Reuters. The President of Germany Frank-Walter Steinmeier arrives at Buckingham Palace, London
FRANKFURT (Reuters) - German President Frank-Walter Steinmeier on Thursday warned the financial sector that it had a responsibility to prevent speculation and the formation of trading bubbles in the cryptocurrency market.
Steinmeier told about 1,000 guests at a Deka Bank event in Frankfurt that a new debate was needed about regulating cryptocurrencies, given recent gyrations in their valuations.
"When I look at the market developments of cryptocurrencies, I don't see currencies. I see betting games," Steinmeier said. "Preventing new speculation acrobatics and formation of bubbles is primarily the responsibility of the financial sector."
Steinmeier said it was important for markets to stay grounded in the real economy, underscoring the need to protect small investors. "Where do cryptocurrencies avoid regulation and steering through central banks? Where do they make possible money laundering, tax evasion and illegal businesses?" he added.
Regulators are increasingly looking how to monitor the crytocurrency market, after Bitcoin gained 2,000 percent in 2017, touching a record high of around $20,000 shortly before Christmas.

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Re: Cryptocurrency

Postby Blue Whale » Fri Feb 02, 2018 7:43 am

=:) Let's see whether the Crypto people of TEC move back to the original course of action at least now @-)
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Re: Cryptocurrency

Postby SHARK » Fri Feb 02, 2018 8:23 am

bitcoin down below 10 grand.....
Price is what you pay. Value is what you get.”

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Re: Cryptocurrency

Postby newer1 » Fri Feb 02, 2018 8:28 am

COIN looking down wage neda
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Re: Cryptocurrency

Postby Blue Whale » Mon Feb 12, 2018 2:07 pm

One of Japan’s largest digital currency exchanges has said it will refund most of the $534m (£380m) worth of virtual assets lost in a hacking attack. Coincheck has promised to use its own funds to reimburse more than 46bn yen ($423m) to customers who lost their NEM cryptocurrency coins on Friday.

The Tokyo-based company suspended trading after detecting “unauthorised access” of its digital exchange.

Some 260,000 customers are said to be affected by the reported theft.

Coincheck said on Sunday that the amount it has promised to return covers nearly 90% of the 58bn yen worth of NEM coins lost in the attack.

After the breach was discovered on Friday, the company froze deposits and withdrawals for all cryptocurrencies except Bitcoin as it assessed its losses in NEM, a lesser-known currency.

The stolen Coincheck assets were said to be kept in a “hot wallet”, which is a part of the exchange connected to the internet, as opposed to a “cold wallet”, where funds are stored securely offline.

The company says it has the digital address of where the assets were sent.

As many as 10,000 businesses in Japan are said to accept cryptocurrencies.

In 2014 MtGox, another Tokyo exchange, collapsed after admitting that $400m had been stolen from its network.

http://www.adaderana.lk/technology/4567 ... et-refund-
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