EU Imposes Banking Rules on Cryptocurrencies Without Granting Banking Rights: Expert

The Bitcoin community has reacted to the European Union's announcement that digital currency control will be on its list of priorities in 2017. Matthias Klees, a founding member of LocalCrypto and the CEO of EuropeCoin, has called on the cryptocurrency community not to contribute to confusion caused by incorrect wording. Impossible to regulate Klees states: "The barrier to understanding cryptocurrency, for an average person, is high enough. Wrong wordings are preventing the public from understanding what is going on. The European Union is trying to regulate cryptocurrency businesses, not the currencies. We should not contribute to this kind of confusion because by doing so, we are starting to play their game of misinformation." In a chat with the...

Is Bitcoin App Abra Finally Ready for Its Big Debut?

Is Bitcoin App Abra Finally Ready for Its Big Debut?

At this week’s North American Bitcoin Conference, P2P digital cash startup Abra announced that, starting next month, it will begin its long-awaited global rollout. It’s a move that Abra has had in the works since May, when CEO Bill Barhydt said he was eager for the startup, founded in 2014, to make the transition “as quickly as possible”. Notably, the latest news provided new details on what this long-held plan might look like in action. In a blog post published this week, Abra revealed that, at launch, its wallets will support the buying, selling and storing of bitcoin, as well as over 50 traditional currencies, which it said can also be sent peer-to-peer using the service. According to Barhydt, the system is now ready for primetime. He...

CFTC Chairman Calls for Agency to Support Blockchain and Fintech Innovation

The commissioner and acting chairman of the U.S. Commodity Futures Trading Commission (CFTC), J. Christopher Giancarlo, called on the agency to support distributed ledger technology (DLT) and fintech innovation in his keynote address before the SEFCON VI conference sponsored by the Wholesale Markets Brokers’ Association. Giancarlo said he supports the core reforms of Title VII of Dodd-Frank, the swap data reporting and central counterparty clearing and registration of swaps dealers. J. Christopher Giancarlo Giancarlo said his remarks reflect his personal views and are not necessarily those of the CFTC, his fellow commissioners or the CFTC staff. He said the CFTC’s regulatory framework must catch up to 21st Century digital markets, which is one of the...

21 inc’s Mobile App Lets Users Earn Bitcoin By Completing Small Tasks

A lot of people are still wondering how they can go about earning their first Bitcoin. 21 Inc, the company behind the Bitcoin Computer, has come up with a new mobile application that lets users earn small amounts of Bitcoin. All users have to do is completing a set of small tasks, allowing them to earn Bitcoin at any given time without issues. The New 21 Inc Mobile App Earning Bitcoin can be done in a wide variety of ways, although some methods are less profitable than they used to be. The new 21 Inc mobile app aims to provide users with small amounts of Bitcoin by completing mini-tasks on their mobile device. So far, it appears this app is available to everyone in the world, which is nice to see. Do not expect to make a boatload of money by completing these...

5 Ways The Financial Times Has Referred to Bitcoin in Five Years

The first step in any recovery, even an economic or political one, is the admittance of an actual problem. In the grand scheme during our present day, this is politically or economically impossible due to the fickle nature of markets and the increasingly fast nature of the press media. Were Bitcoin or something like it to eventually, as it were, take over the economy, this would inflict both political and economic consequences on the people at large. Namely, the value of all money would rise if transactions were primarily conducted with a fixed-supply asset. Such things seem obvious to us now, having had years of experience with Bitcoin in practice. The first question of many is: is Bitcoin a store of value, a currency, or is it a digital currency? We...

Bitcoin Could Take Over These 7 Multi-Trillion Dollar Markets

Bitcoin served investors and traders globally throughout 2016 as digital gold. It protected assets and wealth of individuals struggling to deal with economic uncertainty and financial instability of certain regions. The next stage in the long-term roadmap of Bitcoin is building mainstream awareness as a currency, taking over multi-trillion dollar markets dependent on fiat or banking services. Tuur Demeester, chief editor at Adamant Research, specified seven major multi-trillion dollar markets which Bitcoin can compete with in the future. These included electronic payments, e-commerce, remittance, hedge fund, gold, cash and offshore deposit market. Huge potential of electronic payments and remittance markets Some markets mentioned above are already being...

Ethereum-Backed Micropayments Could Help Us Live Without Facebook and Google Spying

Dr. Aron Fischer of Swarm and Colony explains how Ethereum-backed micropayments will free us from the control of Facebook and Google. He also talks about the implications of Ethereum on society in an interview shot at the Devcon 2 conference last September. Several new projects are being developed on the Ethereum platform. They have the potential to reach the mass market sooner than most users could ever imagine. Fischer says in the video: “The reason we ended up where we are today is because of a lack of micropayments. The reason that companies like Google and Facebook spend so much time spying on us and trying to get as much information about us as possible is because that is the only thing that they can make money from. That’s become the product...