Tag Archives: Economy

BTC.com Lowers Bitcoin Transaction Costs Through Dynamic Fees and SegWit

BTC.com, the first bitcoin wallet platform in the cryptocurrency market to integrate Bitcoin Cash and SegWit simultaneously, has recently implemented a dynamic fee system to automatically calculate the lowest fee users can attach to have their transactions processed on the Bitcoin blockchain network. In a blog post published on January 11th, (more…)

South Korean Police Did Not Raid Cryptocurrency Exchanges, FUD Triggers Market

This week, several Western mainstream media outlets have falsely reported that South Korean cryptocurrency exchanges were “raided” by local police and authorities. More inaccurate reports regarding the current state of the South Korean cryptocurrency exchange market led the entire cryptocurrency market to decline in value, demonstrating a similar effect to that (more…)

Crypto Craze: Towards A Bursting Bubble?

Cryptocurrencies had an incredible year in 2017: Bitcoin jumped more than 1,300%, Ethereum rallied 8,600%, and the overall cryptocurrency market rose to nearly US$650 billion by the end of the year, an astronomical 3,720% increase compared with January’s “tiny” US$17 billion market capitalization. 2017 was the year that smaller, lesser known (more…)

South Korean Cryptocurrency Mania: Exchanges are Adding More Employees Than Banks

South Korean cryptocurrency exchanges including Bithumb, Coinone, and Korbit are adding more employees than banks and financial institutions, local mainstream news networks have reported. YTN, one of South Korea’s largest mainstream media outlets, revealed that Bithumb, which processes more than $2.6 billion worth of cryptocurrency trades on a daily basis, has (more…)

Alternative Blockchain Uses: Elections, Product Reviews and Fraud Prevention

Decentralization and its effect on the economy is a controversial topic that has pervaded discussion throughout online communities as well as mainstream and alternative media outlets thanks, in part, to Bitcoin’s roller-coaster ride throughout 2017. This phenomenon has also threatened the infrastructural payment processing monopolies whose power has traditionally owed to their (more…)

NYSE and Cboe File For Bitcoin ETFs

This month, the Chicago Board Options Exchange (Cboe) and The New York Stock Exchange (NYSE), the world’s largest options and stock exchange, filed six bitcoin exchange-traded fund (ETF) applications to the US Securities and Exchange Commission (SEC). In March, the Winklevoss twins failed to convince the US SEC to approve the (more…)

The economic surprise of 2017 was Europe’s best year in a decade

Europe didn’t head into 2017 under the best circumstances. Brexit was still relatively new and troubling, Italy’s oldest bank had just collapsed, and a series of upcoming elections were making investors nervous. Twelve months later, the success of Europe’s economy this year has been such a standout surprise it’s even been (more…)

Several South Korean Banks May Close Down The Accounts of Bitcoin Traders

Woori Bank, the third largest commercial bank in South Korea behind Shinhan and Kookmin, is planning on closing down the existing accounts of cryptocurrency exchanges. Last week, mainstream media outlet Hankyoreh reported that Woori Bank is planning to shut down services for the country’s 3 largest cryptocurrency exchanges: Bithumb, Korbit, and Coinone who account (more…)

South Korean Government Will Regulate Bitcoin Exchanges, Refutes Ban Rumors

The South Korean government has officially refuted various reports on the possibility of a cryptocurrency trading ban within the country. On Wednesday, December 13th, the South Korean government, central bank, and financial authorities had held an emergency meeting to discuss the legality of cryptocurrencies and the current state of the bitcoin (more…)

Prominent Investor: Why Jamie Dimon Insisted on Calling Bitcoin a Fraud

Image credit: Forex, Wikimedia Common Over the last year, Jamie Dimon, CEO of JPMorgan, the largest bank in the global finance sector with a market valuation of over $367 billion, has publicly expressed his opposition to bitcoin, falsely describing the cryptocurrency as a fraud and a money laundering tool. Ari Paul, the (more…)