JPMorgan CEO Jamie Dimon says he regrets calling bitcoin a ‘fraud’
JPMorgan Chief Executive Jamie Dimon regrets having called bitcoin a “fraud” but would still not be interested in the cryptocurrency, he said in an interview on Fox Business on Tuesday. Dimon, known for his candid comments, slammed the viability of bitcoin in September. “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart,” he had said at a conference. The buzz generated by Dimon’s comments spurred more interest in the alt-currency. Bitcoin rose around 30 per cent in one month following Dimon’s speech, where he also compared the […]
Ethereum price jumps again as it approaches a new all-time high
The price of cryptocurrency ethereum is closing in on a fresh all-time high during European morning trade on Tuesday as its recent rally shows no signs of stopping. Ethereum, the second biggest cryptocurrency after bitcoin, crossed $US1,000 per coin for the first time on Friday, and continued to gain over the weekend, surpassing $US1,200 on Monday morning, before hitting a fresh record high of $US1,261.41 at around 5.00 a.m. GMT. The cryptocurrency then dipped a little as Monday’s trade continued, but has climbed once again on Tuesday, hitting a daily high of $US1,217, a gain of roughly 7.5%. To read more, please click on the link below… Source: Ethereum […]
Are central bankers about to burst the bitcoin bubble?
Foreign exchange traders have long been used to “jawboning” from central bankers – that is, using carefully selected words to suggest that they are unhappy with the level their currency is trading at, usually because they consider it over-valued. But the world’s top central bankers have a new target: bitcoin and its fellow digital currencies. And some strongly-worded statements show the depth of their feeling on the subject. A month ago, Reserve Bank governor Philip Lowe described the fascination with bitcoin and other cryptocurrencies as a “speculative mania”. Later that day, Janet Yellen, the head of the powerful US Federal Reserve described bitcoin as a “highly speculative asset”, noting that […]
Local FinTech Jacaranda Finance commits to providing positive credit reporting data
Following the Australian Government’s announcement of the introduction of comprehensive credit reporting (CCR), many lenders and other financial institutions are following suit with the aim of creating a more accommodating platform for consumers. This platform will allow for consumers to get a better deal from lenders based on a more accurate representation of their own financial circumstances. The foundation of financial lending is built on the concept of helping those in need. However, it is common practice for lenders to enforce a different criteria for consumers with bad credit, as a negative history may lead lenders to question the reliability of the client. In line with responsible lending obligations, […]
BTC Markets dumps BPAY minimum
Cryptocurrency investors no longer stuck with a $500 minimum trade. Australian cryptocurrency marketplace BTC Markets has eliminated its $500 minimum for deposits made through the popular BPAY platform but has dropped deposits through rival POLi for now. The firm confirmed the policy change in a tweet on Sunday. “The BPAY minimum of $500 no longer applies,” it said. There’s a sting in the tale for local investors. While the BPAY limit has been lowered, BTC Markets has stopped supporting the Australian POLi payments platform. Previously it allowed deposits through POLi, albeit with a $3.30 per transaction service charge, but that’s no longer the case. “We have suspended POLi deposits for […]
Bitcoin and other cryptocurrencies plunge as regulation, demand concerns linger
Bitcoin has slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the world’s largest cryptocurrency. Regulators in China and South Korea are increasing oversight on cryptocurrency trading and mining, while the US Securities and Exchange Commission late last year started cracking down on some digital token sales, known as ICOs. Coinmarketcap.com’s decision to exclude Korean pricing data for coins helped create the appearance of a large drop in prices, which some traders attributed as playing a part in the selloff. “News on the regulatory front is dragging down cryptos,” said Gabor Gurbacs, director of digital-asset strategy […]
Bitcoin competitor Ripple value climbs, almost beating Facebook’s Mark Zuckerberg
The virtual currency boom has gotten so heated that it is throwing the list of the world’s richest people into disarray. Consider what has happened to the founders of an upstart virtual currency known as Ripple, which has seen its value skyrocket in recent weeks. At one point on Thursday, Chris Larsen, a Ripple co-founder who is also the largest holder of Ripple tokens, was worth more than $US59 billion ($75 billion), according to Forbes. That would have briefly vaulted Mr. Larsen ahead of Facebook chief executive Mark Zuckerberg into fifth place on the Forbes list of the world’s richest people. Other top Ripple holders would have also zoomed up […]
Central banks investigate digital currencies following bitcoin boom
No statements, no accounts, no fees, and definitely no waiting for your money to arrive. That could be your financial future in a world where banks have been replaced by a single, unique “key” which would let you directly transfer and receive money instantly from anywhere in the world. It’s something central banks from the UK to Israel and Australia are actively assessing as they consider whether to develop their own cryptocurrencies to mirror the benefits of bitcoin, while minimising the ability to launder money or evade taxes. Head of the Cyber Academy at Edinburgh Napier University, Bill Buchanan said many are now putting their “toe in the water” to […]
