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The bitcoin-US dollar exchange rate ( BTC/USD ) may have climbed back above $4,000, but it might be ready to push higher even though China uncertainty reigns supreme. Following reports the country's regulators  may be seeking to shut down domestic bitcoin exchanges, the bitcoin price fell to a low of $3,977 on the CoinDesk Bitcoin Price Index (BPI) this weekend. The rumor comes a week after the People's Bank of China (PBOC) banned  initial coin offerings (ICO), suddenly outlawing the practice of creating and selling cryptocurrency to investors to finance startup projects. The confusion about what might lie ahead cut short bitcoin's ascent on Friday following a repeated technical failure around $4,650 levels, and the subsequent sell-off was exacerbated by the bearish news out of China. So far, Bloomberg and the Wall street Journal are out with the reports today , suggesting the ban will be limited to exchange-based trading and will not affect over-the-coun...

Bloomberg and the Wall Street Journal  are reporting that China will move to shut down bitcoin exchanges, citing unnamed "informed sources." According to the reports, the ban will be limited to exchange-based trading and will not affect over-the-counter transactions. China's largest bitcoin exchanges, OKCoin, BTCChina and Huobi, told Bloomberg on Monday that they still have yet to be contacted regarding any trading ban. Notably, Bobby Lee, CEO of China's oldest bitcoin exchange, BTCC, posted a poll on Twitter suggesting that he is not entirely convinced by the news. The Wall Street Journal reported that they had contacted the People's Bank of China (PBoC) – the country's central bank – for comment, but it had yet to respond. The reports notably follow a recent ban on initial coin offerings (ICOs) in China, as well as an increase in attention on anti-money laundering policies domestically. For example, the PBoC today put out a notice emphas...

BITCOIN TO DOLLAR ($) The number of businesses accepting bitcoin continues to increase. In January 2017, NHK reported the number of online stores accepting bitcoin in Japan had increased 4.6 times over the past year. BitPay CEO Stephen Pair declared the company's transaction rate grew 3× from January 2016 to February 2017, and explained usage of bitcoin is growing in B2B supply chain payments. Bitcoin gains more legitimacy among lawmakers and legacy financial companies. For example, Japan passed a law to accept bitcoin as a legal payment method, and Russia has announced that it will legalize the use of cryptocurrencies such as bitcoin. And Norway’s largest online bank, Skandiabanken, integrate bitcoin accounts. In the first half of 2017, 1 bitcoin surpassed the spot price of an ounce of gold for the first time, and subsequently broke its all-time high, reaching US$1,402.03 on 1 May 2017, and over US$1,800 on 11 May 2017. On 20 May 2017, the price of one bitcoin passed ...

Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency , since the system works without a central repository or single administrator. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer , and transactions take place between users directly, without an intermediary. [13] :4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain . Besides being created as a reward for mining , bitcoin can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. On 1 Aug...

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