New framework unveiled in China for Bitcoin, blockchain technology

This story was delivered to BI Intelligence “Fintech Briefing” subscribers. To learn more and subscribe, please click here. Initial coin offerings (ICOs), a form of fundraising involving digital tokens, have gained popularity recently, prompting diverse parties to devote attention to how ICOs might fit into existing regulatory frameworks. Now, six Chinese blockchain technology industry associations have jointly publisheda framework, dubbed the Guiyang Blockchain ICO Consensus, suggesting ways blockchain technology companies should behave to reduce investor and stability risks…

"New framework unveiled in China for Bitcoin, blockchain technology"

Howard Marks Trashes Bitcoin: ‘An Unfounded Fad’

Howard Marks is not going to get invited to this weekend’s Ethereum anniversary party, that’s for sure. Mr. Marks, the billionaire investor and co-founder of Oaktree Capital Management, takes a scythe to digital currencies in his latest investment letter. To be fair, he swings the same scythe across basically the entire investment landscape, seeing warped valuations everywhere and nothing but lousy returns to come. Uncertainties abound, from economic growth to central-bank impacts, inflation and political…

"Howard Marks Trashes Bitcoin: ‘An Unfounded Fad’"

AMD: Cryptocurrency mining won’t be a ‘long-term growth driver’ (AMD)

AMD released its quarterly earnings after the bell Tuesday and the stock took off. A beat on earnings and revenue, coupled with a higher than expected forecast for the rest of the year, sent AMD’s stock up about 8%. In the earnings call following the company’s release, Lisa Su, CEO of AMD, said something surprising. “Relative to cryptocurrency, we have seen some elevated demand,” Su said. “But it’s important to say we didn’t have cryptocurrency in…

"AMD: Cryptocurrency mining won’t be a ‘long-term growth driver’ (AMD)"

Here’s why Bitcoin is rebounding

This story was delivered to BI Intelligence “Fintech Briefing” subscribers. To learn more and subscribe, please click here. Bitcoin has recovered somewhat from the drop in value seen last Sunday, with the price of the cryptocurrency reaching $ 2,701 at the time of this writing. The stabilization seems to be the result of Bitcoin miners reaching an agreement on the enactment of the Bitcoin Improvement Proposal. This agreement means the avoidance of a user-activated softfork (UASF), the possibility of which caused significant unease…

"Here’s why Bitcoin is rebounding"

Why bodegas should think twice before allowing for bitcoin ATMs

What are bitcoin ATMs doing in small bodegas throughout New York City? It’s well known that digital currencies like bitcoin can be used for illicit things such as money laundering. That is, it seems to be common knowledge to everyone except the operators of the small grocery stores that are allowing bitcoin, the original digital… bitcoins | New York Post

"Why bodegas should think twice before allowing for bitcoin ATMs"

An investing legend is making a killing after putting 1% of his net worth in bitcoin

The legendary investor Bill Miller is apparently bullish when it comes to cryptocurrencies. Miller told Forbes he invested 1% of his net worth into bitcoin in 2014, determining that the potential gains from a cryptocurrency boom outweighed the risk of a complete loss. Forbes reporter Antoine Gara writes that the investment has grown tenfold and that bitcoin is one of the top holdings of Miller’s hedge fund. In 2014, bitcoin traded between $ 183 and…

"An investing legend is making a killing after putting 1% of his net worth in bitcoin"

Justice Department shuts down dark web ‘drug market’ AlphaBay

The US Justice Department on Thursday said law enforcement would shut down the dark web marketplace AlphaBay, saying it allowed thousands of vendors to sell illegal drugs. AlphaBay mysteriously went offline earlier this month. It was widely considered the biggest online black market for drugs, estimated to host daily transactions totaling hundreds of thousands of… bitcoins | New York Post

"Justice Department shuts down dark web ‘drug market’ AlphaBay"

Bitcoin Rallies Sharply After Vote Resolves Bitter Scaling Debate

Bitcoin’s most abrasive fight is over, for now at least. Bitcoin prices rallied more than 50% this week after a vote in favor of expansion by the computer operators who maintain the digital currency’s network, the so-called miners. On Friday afternoon, bitcoin was trading at $ 2,748, up 52% from Sunday’s low of $ 1,835, when fears about the vote’s outcome pushed prices down. The digital currency reached a high of $ 2,940 Thursday, near its…

"Bitcoin Rallies Sharply After Vote Resolves Bitter Scaling Debate"

Big-name investors are using a ‘1% rule’ to make risky bets that won’t devastate you — but could pay off big-time

To the uninitiated, investing can seem like gambling. And in some cases, it is. But when big-name investors make big returns look easy, it’s tempting to roll the dice yourself. The latest craze to catch the attention of the mainstream investing community revolves around cryptocurrencies, such as Bitcoin and Ethereum. Jason Calacanis, an early investor in startups including Robinhood and Uber, recently tweeted a question about the appropriate percentage to invest in the volatile cryptocurrency…

"Big-name investors are using a ‘1% rule’ to make risky bets that won’t devastate you — but could pay off big-time"

Cybersecurity legend: ‘I will eat my d–k’ if I lose $500K Bitcoin bet

John McAfee, the colorful founder of his namesake antivirus software company, as well as a former fugitive and passionate cryptocurrency backer, says bitcoin is headed toward the $ 500,000 mark within three years. Apparently, he’s got a lot riding on it: That disturbing visual may be a joke, but Bitcoin’s potential is no laughing matter, according… bitcoins | New York Post

"Cybersecurity legend: ‘I will eat my d–k’ if I lose $500K Bitcoin bet"