More Banking Woes For Bitcoin

  JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. all announced a ban on purchases of Bitcoin and other cryptocurrencies on their credit cards.   JPMorgan, enacting the ban Saturday and Bank of America started declining credit card transactions with known crypto exchanges on Friday.   Full story: – https://www.bloomberg.com/news/articles/2018-02-02/bofa-to-decline-all-cryptocurrency-transactions-on-credit-cards     This comes after Visa suspended a number of crypto prepaid cards in January without warning and a number of Bitcoin companies including Bitwala announced that their banking services were suspended.   Shortly after that payment…

Read More

Bitcoin Trader robbed at gunpoint in sleepy UK Village

In a disturbing new type of crime armed robbers broke into a house in a small UK village and forced a Bitcoin trader to transfer a fortune in Bitcoin to them from his computer.   Four thugs in balaclavas broke into the house, which is owned by trader Danny Aston and his wife, Amy Jay. They then tied up Ms. Jay and put the couple’s baby outside in a pram, before threatening Mr. Aston with a gun and forcing him to transfer his Bitcoin into their control.   Unfortunately, it…

Read More

Japan Bitcoin Exchange Coincheck will repay Stolen Funds

It was reported on Friday that Coincheck, a Japanese Bitcoin exchange suspended all withdrawals after a massive hack that shocked the market.   Full Story: – Bitcoin chaos in Japan as CoinCheck freezes all withdrawals   It was reported in the Guardian today that the Coincheck cryptocurrency exchange will refund customers about $400m (£282m) stolen by hackers two days ago in one of the biggest thefts of digital funds. Coincheck affirmed that it would use its cash holdings to reimburse 260,000 people for the value of 46.3bn yen who lost…

Read More

Protect yourself – 90% of Bitcoin Value could be wiped out

Wall Street veteran Peter Boockvar predicts an epic crash will hit the cryptocurrency market, he does not know how and when but he is convinced it is upon us.   Boockvar is the chief investment officer at Bleakley Advisory Group and was interviewed by CNBC, “Futures Now.”  – “When something goes parabolic like this has, it typically ends up to where that parabola began”   “I wouldn’t be surprised if over the next year it’s down to $1,000 to $3,000” he added. That would be a 90% drop from current levels…

Read More

The Craziness of Bitcoin Investors

Crypto fever has gripped the Nation – rephrase – Almost all nations.   People everywhere are gripped by FOMO [Fear Of Missing Out] and want to jump on the bandwagon. The problem is a lot of people are throwing caution to the wind and here some of the risky things people are doing to jump on the Bitcoin bandwagon:   Maxing out Credit Cards to Buy Bitcoin According to consumer group LendEDU, a whopping 18% of people purchased their cryptocurrency with a credit card but most disturbing is that 22%…

Read More

Stripe draws a line through Bitcoin

  Payment processor stripe announced on Tuesday that it will end support for bitcoin as a payment method in April.     Product manager Tom Karlo writes in a blog post:   “Our hope was that Bitcoin could become a universal, decentralized substrate for online transactions and help our customers enable buyers in places that had less credit card penetration or use cases where credit card fees were prohibitive. Over the past year or two, as block size limits have been reached, Bitcoin has evolved to become better-suited to being…

Read More

Forbes Journalist Predicts Bitcoin Crash below $ 1000!

In a recent article Chuck Jones, a Forbes contributor, cited his reasons why Bitcoin could fall to below $ 1000.     Here are the reasons listed in the article:   Regulation could have the biggest impact South Korea Japan China U.S. regulation There is no “value” to it Volatility can create nervousness A shakeout is coming ICOs (Initial Coin Offerings) Hacking theft of CCs FOMO or Fear of missing out Bitcoin mining scams Becomes too associated with criminals and rogue states Third parties changing their minds Bitcoin & Blockchain…

Read More

How to Bitcoin #1 – Introduction

NEW ZEALAND – Guest Writer – A series of articles will be published to introduce you to Bitcoin and what you can do with the cryptocurrency.  Some hints and tips are provided, including some links to websites in order to guide you in your endeavour to understand Bitcoin, the “Internet of Money”.     Firstly, what is Bitcoin?  Bitcoin (BTC) is a virtual currency, digital not physical, and independent of banks. It is a peer-to-peer network supported by its users via computing power with no central authority. It was designed…

Read More

Why Bitcoin is not for you

Bitcoin or cryptocurrency is certainly not for everyone and might not be for you if:     You believe in the system and trust banks: Some people cannot help themselves and have to believe that we can trust in the system or do not want the responsibility being in control of their own money. That way, if something goes wrong, you can blame someone else…   Fact is the system is broken and governments worldwide are running huge deficits.  The problems of the 2008 financial crisis have still not been resolved. …

Read More

Reasons Why the Bitcoin Price is Booming

Bitcoin is booming as believers and skeptics alike watch on.  Some influential people have been giving their opinions regarding Bitcoin – calling the cryptocurrency anything from “fraud” to “bubble” as well as predictions that the price is “heading towards $25,000”. There are a number of reasons why Bitcoin has so rapidly escalated during 2017, a few of which are highlighted in the short video below.       Graph showing growth over the past 12 months – Cryptocompare     Japanese Yen buying the lion’s share of Bitcoin     Top…

Read More