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 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’"
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"
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"
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"
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"
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"
Bitcoin is on track to recoup losses from its weekend crash thanks to signs that the civil war tearing the cryptocurrency community apart may soon reach resolution. Bitcoin tanked 20%, below $ 1,800 per coin over the weekend, but is now trading at around $ 2,300. According to reporting by Bloomberg’s Yuji Nakamura, that may be because bitcoin miners are getting on board with a software created to bridge the gap between the two opposing camps in the bitcoin community. If enough miners…"Bitcoin is on a tear amid signs that its civil war is coming to an end"
A civil war is taking place in the world of bitcoin, putting the future of the red-hot cryptocurrency in question. Bitcoin is up over 250% since last year, but in the past few months its price has experienced big swings. Arthur Hayes, CEO of BitMex, a bitcoin derivative exchange, told Business Insider he thinks recent volatility in bitcoin’s price reflects the uncertainty surrounding the outcome of this war, which will be decided August 1 when crypto-power brokers determine how the tech that…"Bitcoin is embroiled in a civil war — here’s one way it can unfold"
The price of bitcoin has been on a tear over the last year, but the number of top merchants who accept the cryptocurrency as a form of payment has retreated. That’s puzzling to Jonathan Johnson, the president of Medici Ventures, the venture capital subsidiary of online retailer Overstock. Johnson played an integral role in getting the retailer known for its furniture stock to accept the cryptocurrency. He told Business Insider that Overstock has seen a “modest”…"OVERSTOCK EXEC: ‘It’s crazy that so many retailers don’t accept bitcoin’"