Bitcoin

Bitcoin trading has become supremely popular as the value of bitcoin shoots higher and higher. This section of the site features news and educational articles on bitcoin trading.

Bitcoin Firms Fight Regulation

A Short History of Bitcoin

China which is home to three of the biggest Bitcoin exchanges has released a joint letter to New York regulators warning them that their proposed rules on the cryptocurrency will have vast consequences. The letter was signed by the chief operating officers of BTCChina, Huobi and OKCoin. They argue the new proposals levied by the new “BitLicense” under the New York State authorities are too broad and should only apply to businesses with connections to the region. They state they are organized under the laws of the People’s Republic of China and do not believe the law to be appropriate…

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Another Bitcoin Related Arrest

The Chef Executive Officer of BitInstant has been arrested on charges of selling Bitcoins to buy and sell illegal drugs. Illicit and Illegal Practices Resurface for Bitcoins The 24 year old CEO, Charlie Shrem along with Robert Faiella, who is a Bitcoin broker and user of Silk Road were arrested according to a Federal complaint in the US Southern Federal District Court. They are accused of a scheme to sell $1 million in Bitcoins to users of Silk Road which is an underground and anonymous website used to sell and buy illicit drugs. Shrem would change cash to Bitcoins for…

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Bitcoin – On its Way Out?

What you need to know before trading bitcoins

However, there is at least one internet tax prep system that can handle bitcoin, or at least guide you in the right direction. The year 2013 has now ended and I want to reflect a bit on the biggest technology and Forex/currency news of the year. Bitcoins. While it was all the rage, and in some fashion still is, why are we interested in the cryptocurrency? One could say that Bitcoin was meant to challenge and even damage central banking and money issuing institutions. We can even go so far as to say, it was meant to hurt the ability…

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What You Need to Know Before Trading Bitcoins

What you need to know before trading bitcoins

We are seeing various forms of digital currencies gaining popularity. However, one really stands out, Bitcoins. This crypto-currency has taken off not only in popularity but in price as well. This crypto-currency is now trading above $1,000 per coin as of November 27, 2013. Here is what you need to know as you get ready to trade this digital currency. The first thing you need to know is what exactly is a Bitcoin? It is a digital currency that is created and traded independently of any government central bank. It is totally decentralized and answers to no nation. This currency…

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A Short History of Bitcoin

A Short History of Bitcoin

What exactly is this new phenomenon called Bitcoins? Simply put, Bitcoins are a virtual, digital crypto-currency. It is a form of money that uses cryptography to for the creation as well as managing this new currency. It does not rely on any country’s central bank to regulate its trading, production or price. In the Beginning There was Bitcoin A Bitcoin was created, in 2008, by Satoshi Nakamoto who used many existing ideas from what is called the “cypherpunk   community” when he created it. Bitcoins can be tracked back to his paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System which detailed…

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The Case for Bitcoin Regulation

A Short History of Bitcoin

Following on from some rather pleasing news that Bitcoins had surpassed $750 in trading on Bitcoin exchange giant Mt. Gox . This came because U.S. regulators and Senate Banking Committee members had voiced opinion that there is no need to regulate trading of this virtual currency. Is this a good thing or should there be some regulation of Bitcoins? There is no doubt, that there have been many issues, as of late, regarding Bitcoin trading as it has been linked to illicit black market activities as well as firms like Mt. Gox facing charges of not properly registering their trading…

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As Bitcoin Passes $750, US Agencies Voice Approval

What you need to know before trading bitcoins

Recently, the price of Bitcoin hit a record high surpassing $750 on the Mt. Gox exchange for the first time ever. This latest surge in prices is fuelled by optimism that that the pseudo-anonymous virtual currency could be a strong possibility as an alternative to conventional methods of payment on the internet. From updates released prior to the U.S senate hearing on “Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies”, federal authorities have voiced tacit approval for Bitcoin as a “legal means of exchange”. This endorsement couldn’t come at a better time in the wake of the…

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Bitcoin in the MainStream?

bitcoins

The world of Bitcoins has been going through changes and regulatory pressures . Enthusiasts are confused as to why the outside world is slow to catch on with this new way to exchange money. Lawmakers and regulators Bitcoins are now getting involved with this and they still have no idea. Bitcoins are still developing. They are now at an awkward stage in their growth and unsure which direction to take. There is the rebellious teenager side that wants to go the anonymous rout by developing new protocols and those who think there should be a physical and more mainstream coin available….

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Bitcoins Tries to Stop Regulatory Pressure

A Short History of Bitcoin

With all the news over the recent months about Bitcoin regulation in the United States to potential Bitcoin market manipulation, representatives from companies that trade this virtual currency are increasing efforts to promote the product to Washington DC. This is their latest and strongest push yet to counter regulatory suspicion that could drive financial innovation out of the United States. Leaders of the Bitcoin Foundation are having meetings with administration officials on Capitol Hill this week and comes in the midst the Homeland Security Committee investigation into virtual currencies and the threats they pose. To recap a little, since it…

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Winklevii to Create Bitcoin Fund

by Kate Leaman Over the last several months, Bitcoins have become some kind of alternative cyber currency that seems to exist outside the realm of governments and their central banks. The virtual currency has come under the scrutiny of governments and their regulatory bodies. Bitcoin traders like Mt. Gox have had accounts seized and Liberty Reserves was shut down due to money laundering and other illicit and criminal behavior. So what is next? How else can this virtual currency make news? Enter the Winklevoss twins, also known as Winklevii. Cameron and Tyler Winklevoss (Winklevii), best known for their history with…

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Use SetOption to Trade Bitcoins

A Short History of Bitcoin

In yet another sign that Bitcoins (BTC) is gaining prestige within the trading world two more binary option firms, SetOption have now begun to offer trading options in BTC. This is coming as firms such as IG and Mt. Gox already offer binary bet options and helps to strengthen the notion that Bitcoin is gaining mainstream acceptance. Brokers are now seeing the importance of trading BTC and flat currencies, such as: USD, EUR, GBP and more. These firms are also offering more education on their web pages which, in turn, will expose more and more traders to this new digital…

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Bitcoin Market Manipulation ?

bitcoins

Last week, Coinsetter Blog, noticed something strange during the trading of Bitcoin. They saw a trading pattern which suggested that there was trading manipulation within the Bitcoin market. There had been, up to that point, 2 weeks of stability in the market, then all of a sudden traders noted an unexplained surge in volume with a drop in price. This is clearly seen in the chart below which identifies this large unexplained drop in Bitcoin price on June 2. << Finally some good news for Bitcoin! Read US Agencies Starts Defending Bitcoin >> Till that point the virtual currency had…

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The Federal Reserve Takes an Interest in Bitcoins

We knew this day would come, with all the other U.S. regulators looking into Bitcoins, the U.S. Federal Reserve (FED) has now entered into the fray. On Tuesday, The Fed made a statement at an international conference that they are now studying the potential risk from online payment mechanisms. They will be looking into both PayPal and Bitcoin. Bankers have been expressing concerns that these newer players into the market place can have a “negative impact” and implications on the financial system. FED Vice Chair Janet Yellen was recently quoted as saying “We have been talking… with banking organizations over the…

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Bitcoins Takes Another Hit as Liberty Reserve Shut Down

LIberty reserve shut down

  On Tuesday, The New York Times reported that Liberty Reserves, and its owners, were accused by the U.S. Attorney General of operating a $6 billion money laundering scheme online. It was a central hub for criminals trafficking everything from child pornography to stolen identities. They accused Liberty Reserves of “operating beyond the traditional confines of United States” banking regulations. This is a crime that federal authorities are calling “cyber-finance” where it trades in a virtual currency and provides anonymity as well as an accessible infrastructure that criminals love to have. This is not the first time U.S. regulators have…

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From Seizures to Regulations, Welcome to the New World of Bitcoins

bitcoins

Last week was a busy time for Bitcoins. They are the latest big thing in the both the Forex and binary options world. On May 16, the Department of Homeland Security (DHS) seized assets in an account associated with Bitcoin giant Mt. Gox. The week before that, the CFTC announced they wanted to look into regulating Bitcoins. Why? More and more firms in the US want to offer some form of Bitcoin trading product to their clients. First, let us look at the big news, just last week the DHS  froze all assets in a mobile payments account associated with Bitcoin…

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US Regulators Take Aim at Bitcoins: Are Bitcoins the new Virtual Currency?

bitcoins

Bitcoins are beginning to take hold. Everyone wants them. Online Forex firms want clients to trade them. Companies want to accept them as methods of payment. The virtual currency is arriving. However, the government regulators want to take a closer look at Bitcoin and maybe even regulate them. Last week the very first government regulator jumped into the mix. Not surprisingly, it was out of the US which has some of the tightest commodities, Forex and binary options regulations on the earth.  The Commodities Futures Exchange (CFTC) is considering into whether or not Bitcoin falls under its regulatory scope. The…

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