British Banks Are Shunning Bitcoin Companies

Companies that handle digital currencies are being forced to open bank accounts elsewhere as British banks continue to shun them. Investor interest in digital currencies has surged this year with bitcoin’s price rising to a record high of $6,200 over the weekend, pushing its market cap to $102.8 billion. Yet, despite this traditional banks remain weary of the market.

MIT Issues Diplomas Using the Bitcoin Blockchain

The Massachusetts Institute of Technology (MIT) has begun a pilot program to test the benefits and challenges of using the bitcoin blockchain to issue diplomas. AS MIT News reports, the pilot program began this summer and provided 111 MIT graduates with the option to receive their diplomas through a blockchain-reliant smartphone app called Blockcerts Wallet, in addition to the traditional hard-copy format.

Japan’s Biggest Bitcoin Exchange Reveal Bitcoin Gold Hard Fork Plans

Two of Japan’s leading bitcoin exchange have announced their plans for the upcoming bitcoin hard fork, scheduled to occur this week. Tokyo-based bitFlyer, Japan’s largest and best-funded bitcoin exchange, has revealed its intention to distribute Bitcoin Gold (BTG) to users prior to the split of the bitcoin blockchain – expected to occur on October 25th. The exchange also revealed its intention to launch trading services in support of the new cryptocurrency, enabling users to sell, deposit and send BTG from their bitFlyer accounts.

Bitcoin is no Fraud but There are Real Concerns: Royal Bank of Canada CEO

The Royal Bank of Canada’s CEO has said that he would never call bitcoin a fraud, but he admits he does have ‘real concerns’ about the currency. Banker David McKay said: I would never call it a fraud because it’s not misrepresenting what it is. People have placed value on what it is in different ways and they’re fine to do that, but it’s not fraudulent in its misrepresentation.

SegWit2x Lead Mike Belshe: ‘Things Are Looking Good’ for Bitcoin Hard Fork

BitGo chief executive and SegWit2x project lead Mike Belshe says that, despite contention within the bitcoin community related to the block size debate, “things are looking good” for the SegWit2x hard fork. Bitcoin is now approximately one month out from the scheduled date for the activation of SegWit2x, a controversial hard fork intended to increase the blocksize to improve the network’s scalability. Since the New York Agreement (NYA) was struck in May, a number of signatories have rescinded their support for SegWit2x, citing various concerns including the lack of opt-out replay protection, a dearth of community consensus, and the absence of support from Bitcoin Core developers.

UBS: Cryptocurrencies Are a ‘Speculative Bubble’

UBS has said that cryptocurrencies like bitcoin are a ‘speculative bubble’ and are unlikely to become a mainstream currency. Yet, it believes the blockchain may have a ‘significant impact’ on many industries. In a white paper titled ‘Cryptocurrencies – Beneath the Bubble‘ that was published this week, UBS said: We think the sharp rise in cryptocurrency valuations in recent months is a speculative bubble.

BitMEX Clarifies Position on Bitcoin Hard Forks With SegWit2x Looming

BitMEX, a cryptocurrency exchange, has clarified its position on hard forks considering the pending SegWit2x hard fork in November. The SegWit2x hard fork is intended to provide a minimal patch to resolve the conflict over activating SegWit and increase the block size to allow faster transactions on the bitcoin blockchain. In the interest of protecting customer assets, BitMEX noted in a blog that it requires the following measures of hard forks: Strong two-way transaction replay protection, enabled by default, so that transactions on each chain remain valid on one another.

Wall Street Analyst Gary Shilling: I Don’t Understand Bitcoin

Gary Shilling, a prominent and highly regarded Wall Street financial analyst, recently said in an interview that he doesn’t understand Bitcoin and do not intend to invest in “things that are not transparent.” While his statement was factually inaccurate, as Bitcoin is the most transparent financial network in existence due to its decentralized blockchain network, it is optimistic to see investors acknowledge their lack of knowledge in Bitcoin, rather than simply calling out Bitcoin as a “bubble” or a “fraud,” as figures such as JPMorgan CEO Jamie Dimon did in the past.

Bitcoin Is Not the ‘New Gold,’ Goldman Sachs Tells Clients

Goldman Sachs has said that digital currencies are not the ‘new gold’ despite claims that it is considering launching a bitcoin trading operation. In a note to clients, the multinational finance company said that despite the popularity of cryptocurrencies, gold is the ‘best long-term store of value,’ reports CNBC. The note said: The use of precious metals is not a historical accident – they are still the best long-term store of value out of the known elements.

Block Size Debate Turns Violent as Trolls Sends SWAT Team to Home of BitGo’s Lopp

BitGo engineer and outspoken SegWit2x opponent Jameson Lopp was targeted by an anonymous individual who falsely called the police to report a hostage situation at his home on Monday. This action appears to be in response to Lopp’s position on the Bitcoin block size debate. Lopp recounted the incident on Twitter, stating that an “anonymous coward” had sent a police SWAT team to his house in response to a false hostage situation.

Bank of Canada Senior Deputy Governor: Bitcoin Won’t Replace Cash

The Bank of Canada’s senior deputy governor has said that digital currencies like bitcoin are changing finance. However, she doesn’t believe it will replace cash. Speaking at an Institute of International Finance meeting in Washington, Carolyn Wilkins, senior deputy governor at the Bank of Canada, said: Money that’s worth the name to be called money really does have to be a medium of exchange, a store of value – and the digital currencies that are out there right now don’t fulfill them – bitcoin doesn’t, none of them do.
WikiLeak’s Founder Thanks US Government for 50,000% Bitcoin ROI

WikiLeak’s Founder Thanks US Government for 50,000% Bitcoin ROI

Julian Assange, the founder of WikiLeaks, has taken to social media to say that the organisation has made a 50,000 percent return with bitcoin, and all thanks to the U.S. government. Founded in 2006, WikiLeaks is a non-profit whistle blower site, which primarily relies on donations. However, in 2010, Assange claims that the U.S. government forced companies such as Visa and Mastercard to carry out an illegal banking blockade against the organisation. PayPal and American Express were also involved.

PBoC Digital Currency Chief Calls for State Cryptocurrency

The head of the People’s Bank of China’s (PBoC) Digital Currency Research Institute has called for the Chinese central bank to adopt a government cryptocurrency to help bring stability to its fiat currency. As reported by regional news source Yicai, Institute Director Yao Qian discussed the potential benefits of a government cryptocurrency at an International Telecommunication Union meeting this week.

Jamie Dimon Should “Do Some Homework” on Bitcoin, says Tech VC

JP Morgan’s chief executive Jamie Dimon, who earlier this year labeled bitcoin a “fraud” and stated that it would eventually be closed because it was “not a real thing,” was recently slammed by Bart Stephens, co-founder and managing partner of San Francisco-based venture capital firm Blockchain Capital, who said he should “do some homework” on bitcoin.

Korea’s Largest Bitcoin Community Urges SegWit2x Supporters to Rescind Support

The Seoul Bitcoin Meetup has penned an open letter to New York Agreement (NYA) signatories, urging them to rescind support for the controversial SegWit2x hard fork that is scheduled for mid-November. The Seoul Bitcoin Meetup has nearly 1,700 members, making it South Korea’s largest bitcoin community.
F2Pool Stops Signaling for SegWit2x as Bitcoin Price Surges Past $5,200

F2Pool Stops Signaling for SegWit2x as Bitcoin Price Surges Past $5,200

Cryptocurrency mining pool F2Pool has stopped signaling support for SegWit2x, potentially undermining the argument for the November implementation of the controversial scaling proposal. In May, F2Pool joined virtually every significant mining operation in signing the New York Agreement, the Barry Silbert-led proposal that sought to solidify consensus for SegWit2x, a protocol upgrade that supporters say will help the Bitcoin network scale to manage larger volumes of transactions more efficiently.

Xapo Receives Criticism Over its Plan to List Bitcoin as BC1 if it Becomes Minority Chain

The probability of the original Bitcoin blockchain or legacy chain becoming the minority chain after the November SegWit2x hard fork is slim, but Xapo has received criticism from experts in the cryptocurrency sector over its intention to list the original Bitcoin blockchain as “BC1” if the SegWit2x chain turns out to be the majority chain. Publicly ‘Shames’ SegWit2x Supporters Publicly ‘Shames’ SegWit2x Supporters followed through on its threat to publicly denounce companies that support the SegWit2x hard fork and have not committed to classifying the competing blockchains as separate cryptocurrencies following the resulting chain split. Last Thursday, — an open-source repository for bitcoin resources and information and the top Google search result for “Bitcoin” — published a blog post threatening to publicly denounce 50 prominent SegWit2x supporters unless they would revoke their support for the controversial scaling proposal or agree to treat the SegWit2x blockchain as an altcoin.

Xapo: Bitcoin is the Blockchain With the Most Accumulated Difficulty

Bitcoin wallet service Xapo has announced how it will approach the SegWit2x hard fork that is scheduled for mid-November. Xapo: ‘Bitcoin’ Belongs to the Chain With the Most Difficulty In a blog post published on the company website, Xapo co-founder and COO Federico Murrone stated that Xapo will support the blockchain with the most accumulated difficulty but will make the coins on the minority chain available for customers to sell or withdraw.

B2X: Bitcoin Exchange Bitfinex Reveals Ticker for SegWit2x Fork

Bitcoin exchange Bitfinex has signaled its intent to provide support for both bitcoin blockchains following the SegWit2x hard fork in November. The exchange will continue to list the incumbent blockchain as “Bitcoin” under the ticker symbol “BTC” and will list the SegWit2x blockchain as “B2X”. Bitfinex made the announcement in a statement on the exchange website on Friday, stressing that it does not “intend to advocate for or against any particular hard fork” and made the decision to list the incumbent blockchain as BTC and the new one as B2X due to operational concerns.

Bitcoin Exchange Bitfinex Lists SegWit2x Chain Split Tokens

Bitcoin exchange Bitfinex has listed SegWit2x chain split tokens to allow traders to speculate on the future outcome of the proposed November hard fork that will likely split the bitcoin network into two competing blockchains. According to the announcement, traders will be able to create chain split tokens– dubbed BT1 for the original chain and BT2 for the SegWit2x chain — by depositing BTC into the token manager.

Roger Ver Bets $4 Million on SegWit2x Hard Fork

Angel investor Roger Ver has placed a $4 million bet that the coins on the SegWit2x blockchain will ultimately be worth more than coins on the original bitcoin blockchain following the proposed November hard fork. It’s difficult to remember a time when the bitcoin community was not embroiled in a debate about the appropriate way to scale the bitcoin network.

Coinsource Adds (Another) Bitcoin ATM to New York City’s Growing Roster

Coinsource added another bitcoin ATM to its New York City roster, bringing its industry-leading national network total to 127. The new bitcoin ATM resides in Mario’s Gourmet Deli at 934 Amsterdam Ave. and is accessible from 7:00 am to 1:00 am. Like the majority of Coinsource’s New York City systems, it is a one-way ATM, meaning that customers can purchase bitcoin there but not sell it. Directly beside the new system sits a conventional ATM, placed there and paid for by the very legacy financial system bitcoin was created to upend.

Overstock Announces SEC-Compliant ICO Exchange

Overstock subsidiary tZERO has announced a joint venture with Argon Group and RenGen LLC to launch the first ICO exchange that complies with SEC and FINRA regulations. Overstock Announces SEC-Compliant ICO Exchange The ICO market, which the company describes as an alternative trading system (ATS), purports to facilitate the trading of security tokens while maintaining compliance with Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations.

Bitcoin Trading Spurs Australia’s Best-Performing Hedge Fund

Warburton Global Macro Fund is enjoying the fruits of bitcoin even though its hedge fund manager thinks the currency is ‘too volatile to trade.’ Founded in 2015, the Australian hedge fund is considered one of the best performing in the industry. The Perth-based company, which began trading in April 2016, has been trading between bitcoin prices in Europe and North America before selling in Asia where demand is higher. Speaking to The Australian Financial Review, Leon Warburton, portfolio manager of Warburton Global Macro Fund, explained that they were able to get on board early to spread trading between different exchanges.