One of the world’s biggest economies just banned bitcoin
Businessam Staff
January 12, 2018
Bitcoin has been dealt a huge blow by one of the world’s biggest economies, as South Korea announced plans to outlaw the controversial cryptocurrency. Notoriously volatile virtual currencies plunged in the wake of a government announcement – bitcoin shed almost $2,000 in hours and is currently hovering above the $13,000 marker. The country’s justice minister […]
Bitcoin, other cryptocurrencies will ‘come to bad ending’ – Warren Buffett
Businessam StaffJanuary 11, 2018
Warren Buffett might be the most legendary investor on earth. The Omaha resident, famous for both his billions and his frugality, built Berkshire Hathaway into a financial empire. So when he talks money, people listen, and his discussion of Bitcoin has probably perked up a few years. Before you ask, Buffet point-blank says he doesn’t […]
Malaysia not considering digital currency Illegal- Deputy finance minister
Goddey OdinJanuary 3, 2018
Datuk Seri Johari Abdul Ghani, Malaysia deputy finance minister stated that the country is not considering any plan to effectively deem cryptocurrencies to be illegal amid conflicting reports about what the future may hold for Bitcoin. That seems like a good news, although the actual regulation has yet to be presented to the world. As a lot of countries […]
Bitcoin rally pauses at $16,000 amid threat of regulator clampdown
Businessam StaffDecember 27, 2017
Bitcoin has rebounded after a pre-Christmas slump, despite clampdown plans over “bubble” fears. On Wednesday it crossed the $16,000 mark again, after losing more than 30pc of its value in one day and plunging to lows of $12,000 last week. The cryptocurrency began the year below $1,000 but saw a staggering rise, despite warnings of […]
Bitcoin rebounds, passes $15,000 as it recovers from last week’s brutal selloff
Businessam StaffDecember 26, 2017
Bitcoin rallied past $15,000 on Tuesday as the world’s biggest digital currency sought to draw a line under its roller coaster five-day slump. The tokens rose 10 percent to $15,084.86 as of 9:20 a.m. in London, their biggest gain on a closing basis in two weeks and the first in six days. Rival currencies litecoin […]
Bitcoin transaction temporarily disabled on Coinbase, one of biggest digital currency market
Businessam StaffDecember 22, 2017
Coinbase, one of the biggest bitcoin marketplaces in the U.S., said Friday that trading was temporarily disabled amid a price rout in cryptocurrencies. “Investigating – All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience,” Coinbase said on its status website at 11:11 a.m., ET. The company added […]
Bitcoin dips US$2,000 after US regulators halt share trading in The Crypto
Businessam StaffDecember 20, 2017
Bitcoin prices plunged US$2,000 within one hour to below US$16,000 on Wednesday morning, before paring losses, after the US stock regulator suspended share trading of a cryptocurrency company on concerns about potential stock manipulation. Bitcoin plummeted from US$17,656 to US$15,577 between 7.45am to 8.45am Hong Kong time, before paring losses by noon, according to the […]
Good news! You are a Bitcoin millionaire. Bad news! You forgot your password
Alison Sider and Stephanie YangDecember 19, 2017
Distraught investors go to extreme lengths to recover their lost cryptocurrency, including hypnosis and ‘brute force’ attacks with a supercomputer What’s worse than missing out on bitcoin’s 1,900% rally? Not being able to access your windfall because you forgot your bitcoin password. Many who bought bitcoin years ago now find themselves sitting on an untouchable […]
Bitcoin booms in Nigeria as business users, speculators rush in
Businessam StaffDecember 19, 2017
In July 2016, Manasseh Egedegbe, an Abuja-based investment manager, was caught in the crosshairs of Nigeria’s dollar crunch and had some difficulties making an international payment. At the time, with Nigeria’s foreign reserves and revenues shrinking amid an economic slump, the Central Bank of Nigeria (CBN) put up currency controls to restrict access to dollars. For Egedegbe, […]
The 4 biggest misconceptions about bitcoin
Businessam StaffDecember 14, 2017
Historically, no asset has been better at making investors money over time than the stock market. Looking back decades, stocks tend to average an annual return of 7%, inclusive of dividend reinvestment and adjusted for inflation. This beats out commodities like oil and gold, income options like bonds and CDs, and it handily trounces the […]