bitcoin Bitcoin Crime dark web Ross Ulbricht Scotland silk road 

Man Jailed after Using Bitcoin to Buy Handgun on Dark Web

A middle-aged Scottish man has been sentenced to five years in prison for using bitcoin to purchase illegal firearms on the dark web. According to local police, David Mitchell, a 48-year-old from Edinburgh paid for a 9mm handgun, magazine, 150 rounds worth of ammunition, and a suppressor from the United States using about $2,750 worth of bitcoin (roughly 0.74 BTC at press time). Bloomberg reports that Mitchell purchased the illegal firearm on the dark web and attempted to ship it from the United States into Scotland, but the package was intercepted…

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bitcoin Da Hongfei Editor's Picks Erik Zhang etheruem Exclusive Interview NEO 

Why NEO Co-Founder Erik Zhang Says Ethereum Will Overtake Bitcoin

NEO appears to be losing ground in the popularity contest, at least lately. In the glory days of 2017, the “Chinese Ethereum” was a top 10 cryptocurrency with unstoppable potential. NEO was touted as being faster, better, and capable of handling way more transactions than other major networks. The hype surrounding the project was palpable. Since its heyday in January 2018 when its market cap was over $10 billion, NEO has slipped to 18th place with a market cap around half that amount. NEO, like other top cryptocurrency assets, had…

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bitcoin Bitcoin Price News Ethereum ripple 

Is Bitcoin Heading to Low $3,000? Traders Expect Short-Term Downtrend

On January 11, the crypto market experienced an intense sell-off as the Bitcoin price dropped below the $3,600 mark and major digital assets recorded drops in the range of 10 to 15 percent. Following a drop in the price of BTC from $4,036 to $3,503, traders expect the dominant cryptocurrency to fall below key support levels in the low $3,000 region, possibly below $3,300. Crypto Winter Not Over In mid-December, prior to Christmas Eve, many investors in the cryptocurrency market demonstrated renewed optimism toward a short-term trend reversal of Bitcoin…

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bitcoin Bitcoin Opinion Bitcoin Price News federal reserve 

Federal Reserve Blames Altcoins for Dragging Down the Bitcoin Price

The Federal Reserve Bank of St. Louis has released an article today about Bitcoin. In it, the bank notes that the price of Bitcoin has three potential futures: indefinite, infinite appreciation; zero; or somewhere in between. They believe it will be somewhere in between. The authors, David Andolfatto and Andrew Spewak, conclude that one of the factors dragging down the price of Bitcoin is an ever-expanding supply of alternatives. Bitcoin is an inherently speculative and volatile asset. A fixed supply doesn’t mean an ever-increasing value. Demand determines value, after all….

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bitcoin Blockchain News Hyperledger Fabric NASA Opinion 

Bitcoin is a ‘Fad,’ But Even NASA is Investing in Blockchain

Bitcoin birthed the concept of blockchain technology, and now even organizations as technologically advanced as NASA are considering its benefits. Yet cryptocurrency is often described as a fad, a bubble, and even worthless. NASA Eyes Hyperledger Blockchain for Air Traffic Management Ronald J. Reisman, an aero-computer engineer at the NASA Ames Research Center, has put forward blockchain to solve issues of privacy and the prevention of spoofing, denial of service, and other attacks. He says a new system due for implementation in 2020, the Automatic Dependent Surveillance-Broadcast (ADS-B), does not…

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alibaba Alipay bitcoin Blockchain News Pakistan 

Pakistan Uses Blockchain Developed by $150B Alipay, But No Bitcoin

The government of Pakistan is reportedly using a blockchain platform developed by Alibaba’s Alipay. But, cryptocurrencies like Bitcoin remain banned in the country for payments. The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize a blockchain application to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central banks and large financial institutions. Blockchain Not Bitcoin Several months ago, Pakistan established a partnership with Telenor Microfinance Bank, a financial institution owned and operated by Alipay, a $150 billion fintech giant based in China…

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bitcoin Bitcoin Analysis bitcoin etf japan United States 

Could Japan’s Approval of the Bitcoin ETF Affect US SEC’s Decision?

On January 7, CCN reported that the Financial Services Agency (FSA) of Japan is considering the approval of the country’s first Bitcoin exchange-traded fund (ETF). With the final deadline of the VanEck Bitcoin ETF on the horizon, could the approval of a Bitcoin ETF in Japan have an impact on the decision of the U.S. Securities and Exchange Commission (SEC)? Probability of a Bitcoin ETF in US The probability of the approval of a Bitcoin ETF in the U.S. by February remains low. A pro-crypto SEC commissioner Hester Peirce previously…

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bitcoin Bitcoin Opinion china jeremy allaire 

Chinese Analysts Say Bitcoin Bear Market Likely to Continue In 2019

Chinese analysts expect the current bitcoin bear market to continue in 2019, contradicting the bullish projections of crypto bulls like Mike Novogratz, who predicts that the bitcoin price will hit record highs this year. “In 2018, bitcoin became an investment black hole,” according to the state-run Beijing News. “Entering 2019, bitcoin prices are still showing signs of decline, and there is no obvious rebound. For bitcoin’s trend in the new year, pessimism is more dominant. Xiao Lei, a currency policy analyst, attributed the Crypto Winter to the meteoric price spikes that virtual…

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bitcoin Bitcoin Business Ohio overstock 

Overstock Will Be First Major Company to Pay State Taxes in Bitcoin

Online retail giant Overstock will become the first major US company to pay part of its 2019 Ohio state business taxes in bitcoin. Overstock — which has a blockchain business division — said the move is part of its ongoing efforts to promote cryptocurrency use. Overstock CEO and founder Patrick Byrne praised Ohio and its treasurer Josh Mandel for making Ohio the first US state to accept bitcoin for tax payments. “We are proud to partner with forward-thinking governments and officials like Ohio and Treasurer Mandel to help usher in an…

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bitcoin Bitcoin Business Bitcoin Progress BlockFi cryptocurrency creditors nexo SALT TrueUSD 

Cryptocurrency Creditors Making a Killing Despite Bear Market

Cryptocurrency creditors have been able to find profits from selling to two types of borrowers: die-hard crypto believers— who expect the market to rebound strongly and institutional investors—who need to get digital assets for short selling. The downturn in the crypto market that saw cryptocurrencies lose more than half of their values have continued into the new year. Since the crash started in November, the number of blockchain companies restructuring their operations has increased as companies devise new methods to survive the bear market. In the last three months, we…

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