Bitcoin is quickly gaining popularity on the international scale. With its decentralized system of money transactions, Bitcoin has a very huge growth potential in the remittance market. The attractive features that Bitcoin provides when used to remit money are its low cost and fast speed of transfer with a high degree of security.
Hackers who demand extortion money in Bitcoin are attacking websites of Asian Banks.
Hong Kong's largest banks have recently been under attack from hackers, supposedly from abroad. They launched a DDos attack on the Banks' websites. The Bank of China and the Bank of East Asia are two prominent banks in the region and confirmed that they had such an attack on May 9.
There have been various speculations over who is the real founder of the revolutionary, crypto currency Bitcoin. New York Times revealed that Satoshi Nakamoto's real identity is Nick Szabo in a recent article.
Some supporting evidence that the article published by New York Times gives is:
A Texas based financial institution, USAA, has recently announced that it has been studying Bitcoin's technology and it will use its research facilities to help support the development of Bitcoin. This interest from a major banking institution signifies good growth potential for Bitcoin.
ItBit is the first company to receive its licence to work under the newly crafted virtual currency laws in New York. ItBit will work as a regulated Exchange that will trade in virtual currency.
There is no doubt that Bitcoin's ultimate potential lies in its ease of use and its decentralized system. With regulation coming into the Bitcoin arena, we can hope that Bitcoin will finally fulfill its goals.
Goldman Sachs Group Inc. and IDG Capital Partners were some of the major funding providers for Circle Internet Financial.
This Boston based firm’s support from major players in the startup-funding arena is a very good indication for Bitcoin.
CoinHako, a Singapore based Bitcoin exchange, has recently announced that it has formed a partnership with BitGo, a leading secure Bitcoin wallet, that will protect its assets against loss from theft and hacking of any sort.
This recent rise in insured Bitcoin exchanges will make it more secure to conduct transactions through such exchanges, as your money will be protected by insurance. Safety and security have always been the greatest concerns regarding Bitcoin transactions. Unpleasant experience with exchanges like Mt Gox have alerted other exchanges in the Asian Bitcoin market to become more aware of the financial regulation and security needed for crypto currency exchanges.
A Canadian based Bitcoin exchange, BitNational, has acquired Bitcoin Brains Inc. BitNational will be able to increase its market share in the Bitcoin brokerage arena with this partnership.
BitNational’s Calgary based operations will be able to expand their operations to more Canadian locations. This will allow BitNational to move a step closer to developing a nationwide network of Bitcoin exchanges.
A review of some of the most dangerous Bitcoin frauds
Some scams that many Bitcoin users may fall prey to are one of the easiest to avoid. Bitcoin, with its decentralized trading system, is open to many malicious schemes of hackers and scammers. Recent reports indicate that Bitcoin scams are on the rise. In this article we will discuss some common Bitcoin frauds.
Fortune magazine’s Daniel Roberts has reported that Benjamin Lawsky, Superintendent of the New York Department of Financial Services is finalizing a new license that will require all digital currency companies to apply for a “Bit License" before they can conduct Bitcoin transactions. This license will serve to regulate Bitcoin transactions and will help curb any illegal activities done through this crypto currency.
Bitcoin Foundation, the powerhouse of all Bitcoin funding and responsible for the development of the Bitcoin Core. The Bitcoin Core’s lead developer Gavin Andersen heads this Non-profit organization, where he works as the chief scientist.
The Core Developers, Gavin Andresen, Cory Fields and Wladimir van der Laan decided that MIT’s resource could be a valuable addition to the research and development of Bitcoin. Gavin Andresen himself announced the news on his blog. It is important to remember that BitCoin Core Developers are those founding members of the Bitcoin Foundation who have supported the Bitcoin revolution since its very early days.
February 17, 2015
The technology behind bitcoin could be even more important than the cryptocurrency itself.
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