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Category: Bitcoinist

Reserve Bank of Zimbabwe Sued for Banning Cryptocurrency

The Reserve Bank of Zimbabwe (RBZ) is facing a lawsuit from a cryptocurrency exchange in the African country following the RBZ’s recent order to all registered financial institutions to stop all forms of cryptocurrency trading. The central bank also instructed cryptocurrency exchanges to shut down their operations.  The Legality of Cryptocurrency in Zimbabwe Brought into Question According to news reports, Golix, the largest cryptocurrency exchange in Zimbabwe, submitted a High Court challenge stating that the RBZ does

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China Using Blockchain to Help Fight Poverty in Tibet

The Bank of China will use the technology to upgrade their existing poverty reduction system in hopes of increasing efficiency and transparency. The benefits of blockchain technology are both powerful and far-reaching in that it does much more than just make virtual currencies possible. One of the industries where the efficiency, security, and immutability of blockchain can really shine is in the finance sector. As this industry is heavily reliant on record-keeping, it stands to

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Weiss Ratings: Cryptocurrency Will Become ‘Fundamentally Safer’ Than Banks

The founder of Weiss Ratings Agency Martin D. Weiss has forecast that an upcoming rule change in US banking will compel investors to move their money away. Spotlight On Volcker Rule Change Timing In a dedicated blog post about the watering down of the Volcker Rule, which limits banks’ ability to gamble deposited funds, Weiss claims that the plan is coming “precisely at a time when risk-taking has reached a peak and key risk assets

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From Russia with Love: How Cryptocurrency and Blockchain are Finding Their Feet

In the West, crypto markets continue to battle with the regulatory uncertainty as the SEC and other regulatory bodies take their time to decide which camp they sit on. At the same time, things are not much rosier in the East either where China is yet to warm up to cryptocurrencies. Blockchain has been around “long” enough to show the proof of concept in that by utilizing blockchain it is possible to streamline a number

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Bitcoin in Politics: Fellow Democrats Clash Over Accepting Cryptocurrency Donations

Two Democratic nominees in a California Congressional race clash over accepting donations in the form of Bitcoin and other cryptocurrencies. The result is an incredibly misleading ad that says Bitcoin fans are for drug deals and human trafficking. Fellow Democrats Dave Min and Brian Forde clashed over accepting cryptocurrencies as donations while running for California’s 45th Congressional race. Forde is promoted by the media as amongst the earliest politicians to start accepting cryptocurrencies as donations.

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Coinbase Acquires Paradex, Set to Offer DEX Crypto Trading to Customers Outside the U.S.

Coinbase has taken another massive step in establishing itself in the emerging cryptocurrency market. The largest crypto exchange platform in the U.S. has acquired decentralized exchange (DEX) platform Paradex. Paradex: The P2P ERC20 DEX Paradex isn’t your usual cryptocurrency exchange platform. It is a peer-to-peer (P2P) ERC20 DEX service that utilizes the 0x protocol. As a DEX, it offers users the ability to trade cryptos directly from their wallets rather than using centralized services like

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China Determined to Dominate the Blockchain Industry

China intends to be the global leader in all things blockchain. Chen Lei, the CEO of Xunlei, believes that it would be against the country’s interest to be left behind in the emerging industry. Despite China’s crypto crackdown, experts want the country to invest heavily in the technology behind Bitcoin. One Blockchain to Rule Them All According to Lei, the industry will evolve to have one alpha blockchain dominating all others. Right now, many experimental

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Israeli Bitcoin Chair: Solution To Blockchain ‘Cargo Cult’ Is Proper Knowledge

The chairman of the Israeli Bitcoin Association, Meni Rosenfeld, has continued the debate surrounding the providence of “imitation” blockchain projects and altcoins. Exploiting ‘Invisible’ Features In a series of tweets on May 21st, Rosenfeld added to the “cargo cult” narrative which first appeared at the Consensus 2018 conference last week. Rosenfeld began: The reason ‘Blockchain’ is so susceptible to cargo cult mentality is that the fundamental features that make it what it is are, in

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Nobel-Winning Nocoiner Economist Calls Bitcoin a Failed Experiment

Robert Shiller, who won the Nobel Memorial Prize in Economics in 2013, holds that Bitcoin, among other cryptocurrencies, might be just another failed experiment. He touched on their complexity and the fact that they are connected with a yearning for social revolution. Robert Shiller is an esteemed Nobel prize winning economist who is known for his warnings about the dot-com and the housing bubbles. In an interview for CNBC, the professor at Yale University expressed

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Binance Confirms Listing of The ZenCash Privacy Coin

ZenCash (ZEN) has just been added to Binance as the exchange’s 127th coin. ZenCash is a privacy coin that uses a similar technology which ZCash uses to secure the private blockchain. Binance Lists ZenCash Binance has just announced that they will be adding another cryptocurrency to their vast arsenal, this coin being ZenCash, a smaller market cap privacy coin forked off of the ZClassic blockchain, this being a fork of ZCash. 🔊 ZenCash is now

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Is 2018 The Year of Venture Capital Investment in the Cryptocurrency Market?

The cryptocurrency market is cooling, but institutional investments into the space have been heating up and have generated over a billion dollars worth of funding in under half a year. Market Slowing But Investments Speeding Up? You would think that with the slowdown in the cryptocurrency market would come a correlated slowdown in institutional investments. However, investments in the space from venture capital firms have only gained momentum since last year’s bull run. Cryptocurrencies and

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UK Mosque Defies Islamic Scholars To Accept Bitcoin Donations

A UK Turkish-owned mosque will become the country’s first to accept cryptocurrency donations during Ramadan, putting it at odds with Ankara on the subject. ‘Uncharted Waters’ Shacklewell Lane Mosque in Hackney, East London, also known as Masjid Ramadan, announced the measures as part of the Islamic traditions of Zakat and Sadaqah – giving to those in need. The only such mosque to formally accept Bitcoin in the country, and one of just several worldwide, Shacklewell

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