Bitcoin News Review 24 October 2016

Bitcoin news review after an exciting break out in the bitcoin price during the weekend… the bitcoin price surging through the $650 level! Two reasons for this could be the devaluation of the Yuan and troubled times ahead for this fiat currency, coupled with reports that after a recent mining conference in China, miners are getting close to an agreement on scalability. The yuan may be in for a tough few months that could translate into higher bitcoin prices.

Articles in discussion as follows:- Bitcoin outperformed the altcoin portfolio by 3.8x over the past three years; Fiat currency devaluing at alarming rate in Bangladesh; Hackenergy 2016 was a two-day Dutch hackathon sponsored by ENGIE Nederland; Investor cash levels jumping to levels not seen since 9/11; monthly volume of cross-border payments settled via Bitcoin is increasing at an exponential rate; Pentagon $1.8M Deal to Use Blockchain for Data Security; Swiss banking giant UBS has named a new head of blockchain; Visa has announced new details about a forthcoming business-to-business payments service developed in partnership with blockchain startup Chain… MasterCard next?

Did you hear that Bitfinex is seeking to strike a deal with the hacker or hackers who stole $65m in bitcoin from the exchange back in August… interesting move.

 

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