Twitter CEO Jack Dorsey thinks Bitcoin will be the world’s ‘single currency’

Jack Dorsey - bitcoin - transactions

Jack Dorsey, CEO of Twitter and payment company Square, has predicted that Bitcoin will take its place as the single currency of the internet in the near future. The comments were made in an interview with The Times published on 21 March. Dorsey elaborated on his belief that the pioneering digital currency will usurp the US dollar’s place in the world financial system, becoming the de facto currency for payments. And he thinks that this monumental shift could happen in a decade,...

Report states Bitcoin mining no longer profitable

Is bitcoin mining become less profitable

A report released by Fundstrat could indicate some bad news for Bitcoin miners. In it, Thomas Lee says that the recent drop in Bitcoin’s value has meant that it is no longer profitable to produce. The report states: "Bitcoin currently trades essentially at the break-even cost of mining a bitcoin, currently at $8,038 based on a mining model developed by our data science team." The report uses three factors to calculate the cost of mining one BTC. These are the cost of equipment,...

Bitcoin ends a crazy year by dropping 25%

Bitcoin falls 25%

2017 has seen a lot of key developments in the crypto space. Among governments and banks piloting blockchain projects and investors ploughing millions of dollars into ICOs, bitcoin’s relentless rise in value has probably been the biggest story of the year. At the start of the year, the world’s most well-known cryptocurrency had a value of around $900. At the beginning of this week it rocketed to a staggering all-time high of $20,000. Now, to cap off a truly crazy year for the...

Will bitcoin futures continue to surge?

Bitcoin Futures - will they continue to surge?

With the rollout of the first Bitcoin futures, Bitcoin critics and disciples alike hold their breath. Doomsayers warned that the new futures will subdue Bitcoin’s price swings — or even dramatically end a perceived “bubble” — while industry insiders remain adamant that Bitcoin’s rally is just getting started. 

 

Bitcoin debuts on futures market

Bitcoin - futures market - CBOE

Bitcoin has made a further step into the mainstream by trading on a major futures market exchange for the first time. The digital currency launched on the Chicago Board Options Exchange (CBOE) futures exchange in Chicago at 23:00 GMT Sunday 10 December. The launch is highly significant as it makes the first time that institutional investors can bet on whether Bitcoin’s value will continue its rocket upwards, or come spiralling back down to earth. The launch has seen a spike of interest...

Bitcoin mining electricity usage higher than 159 countries: Power Compare

Power Compare - bitcoin mining global usage

New research by British energy price comparison platform Power Compare shows that Bitcoin’s growth in usage is not just leading to a surge in price. The energy-intensive process of mining the cryptocurrency requires a lot of energy. And, according to Power Compare, it really does require a lot of energy. Citing the latest Digiconomist Bitcoin energy Consumption Index, the company notes that, as of 20 November 2017, the digital currencies estimated annual electricity consumption is 29.05...

World’s largest derivatives exchange operator, CME Group, announces bitcoin futures

CME Group - bitcoin futures contract

CME Group Inc, the world’s largest derivatives exchange operator has announced that it will be launching a futures contract for bitcoin before the end of 2017. The news sent the price of bitcoin surging to a new record high of $6,616 on Tuesday 2 November. The group’s chairman and CEO Terry Duffy cited growing client interest in the digital currency, as well as evolution in the cryptocurrency markets, as key factors in the decision. The move is being seen as an important recognition...

China’s top Bitcoin exchange to cease trading

BTCC ceases trading

BTCC, one of the largest Bitcoin exchanges in China has announced that it will cease trading in light of the government’s tightening regulation. The exchange will stop buying and selling on 30 September. The move is being as a response to the warning issued on Wednesday by China’s National Internet Finance Association (which describes itself as a ‘national self-regulatory organisation’) that cryptocurrencies are increasingly being used tofacilitate illegal fundraising and money...

BTCS confirms merger intentions with Blockchain Global

US blockchain firm BTCS has signed a non-binding letter of intent (LOI) to merge with Australian blockchain company Blockchain Global Limited (BCG). Sam Lee, CEO of BCG, said, “As early movers in a rapidly developing industry, we have assembled a talented team with the necessary expertise to excel. In addition to our work with innovative companies through the Melbourne Blockchain Center, we have also positioned ourselves to be a leading consultant in the space, servicing companies that...

This new service aims to blast real-time Bitcoin data from space

Blockstream has introduced a new service called ‘Blockstream Satellite’ that enables broadcasting of real-time Bitcoin blockchain data, by making use of other communication satellites in space, to everyone else on the planet. For billions of people across the world who do not have access to the internet and for those who are unable to participate in bitcoin due to higher bandwidth prices, Blockstream Satellite is seen by the company as the next big game-changer. With this...