RonS replied the topic: Background info and about mumerous Crypto currencies
After shuttering local bitcoin exchanges and banning ICOs, China is moving to eradicate the country's bitcoin mining industry over concerns about excessive electricity consumption and financial risk, FT reports. Another crackdown? The SEC has asked ProShares, as well as Van Eck Associates and First Trust Advisors, to shelve applications for bitcoin-related ETFs, marking a similar rejection issued to the Winklevoss twins last March.
Gambler replied the topic: Background info and about mumerous Crypto currencies
I think I have to agree that mining bitcoin and others is a waste of energy and computers
Wednesday, January 3, 2017
BEIJING -- China's central bank told a top-level government internet finance group that the monetary authority can tell local governments to regulate the power usage of bitcoin miners to gradually reduce the scale of their production, a source said.
While the Peoples Bank of China can't directly regulate bitcoin miners' power usage, it can ask local authorities to do so, the central bank told members of the Leading Group of Beijing Internet Financial Risks Remediation at a meeting at the end of 2017, the source said. ...
At the meeting, the PBOC said development of bitcoin mining will be limited, according to the source, who declined to be named as he is not authorized to speak on the matter. ...
GoldnBoy replied the topic: Background info and about mumerous Crypto currencies
Maybe future trading in bitcoin will be delayed
Financial Times, London
Thursday, December 7, 2017
The world's largest banks are pushing back on the introduction of bitcoin futures, raising concerns with U.S. regulators that the financial system is ill-prepared for the launch of the contracts as the value of the volatile cryptocurrency has soared.
The price of bitcoin has risen to a new high of more than $15,000 on several exchanges. Institutional investors have been keen to trade the asset but only via a regulated market.
However, the planned launch in the next 10 days of futures contracts by the Chicago exchanges CME Group and CBOE Global Markets, given a green light from the Commodity Futures Trading Commission last week, has prompted a backlash among the major brokers who backstop trading across the industry.
According to a draft letter to the CFTC from the Futures Industry Association, the main futures industry lobby group whose members include all the largest Wall Street banks, the rapid introduction of bitcoin futures "did not allow for proper public transparency and input."
The lobby group represents some of the world's largest brokers, including Goldman Sachs, Morgan Stanley, JPMorgan, and Citigroup. .
WealthyPlumber replied the topic: Background info and about mumerous Crypto currencies
Business Insider, New York
Wednesday, December 6, 2017
LONDON -- Customers of cryptocurrency trading platform Bittrex are complaining of problems withdrawing money and say they have been left in the dark by the huge U.S. exchange.
Several Bittrex customers contacted Business Insider in recent weeks to complain about problems. Others have taken to Twitter and forums such as Reddit.
The majority appear to have issues verifying their identities when trying to withdraw money from the platform. The people who BI spoke to are angry that they have received little to no communication from the platform about the issues, leaving them confused and concerned.
Bittrex on Wednesday admitted to "significant delays" in handling customer issues but claimed the issues only affect "a small percentage of our overall user base."
alexgreat replied the topic: Background info and about mumerous Crypto currencies
And the insanity continues
By Fitz Tepper
Tech Crunch, San Francisco
Sunday, December 3, 2017
Launched a few days ago, CryptoKitties is essentially like a digital version of Pokemon cards but based on the ethereum blockchain. And like most viral sensations that catch on in the tech world, it's blowing up fast.
Built by Vancouver and San Francisco-based design studio AxiomZen, the game is the latest fad in the world of cryptocurrency and probably soon tech in general.
People are spending a crazy amount of real money on the game. So far about $1.3 million has been transacted, with multiple kittens selling for about 50 ethereum (around $23,000) and the "genesis" kitten being sold for a record 246 ethereum, around $113,000.
This third-party site tracks the largest purchases made to date on the game. And like any good viral sensation prices are rising and fluctuating fast. Right now it will cost you about .03 ethereum, or $12, to buy the least expensive kitten in the game.
So now we have people using ethereum, an asset with arguably little tangible utility, to purchase an asset with unarguably zero tangible utility.