Bitcoin Meets Mainstream Property In $330 Mln BitPay Dubai Deal
A British baroness and asset management conglomerate Knox Group have partnered with BitPayto offer luxury Dubai property for Bitcoin.
The three-way venture will see 1,133 apartments on offer by 2019 worth around $330 mln, with the first 150 for sale at a 20 percent discount.
This represents the first time anyone can purchase property directly from a developer with Bitcoin, an accompanying press release states, and aspects of the sale are deliberately “mirroring” ICO executions.
“I wanted to offer the property, tech and Blockchain community an [...] opportunity by merging the property and tech sectors together in a true first for the industry,” Knox Group chairman Douglas Barrowman commented.
“Bitcoin’s meteoric rise in a few short years means it’s now the world’s leading cryptocurrency. This is exactly why we are the first property development ever to be priced in Bitcoin.”
Full story at http://bit.ly/2f3rzH8
Source: CoinTelegraph
India Keeps Quiet on ICOs So Far, Focuses on Cryptocurrency Misuse
India has not yet responded to China’s sudden ICO ban, with lawmakers continuing to focus on “misuse” of cryptocurrencies in general.
As part of an ongoing examination of cryptocurrency regulation, the country’s central bank told a government panel Monday that such currencies are “susceptible” to criminal activity.
“It is true that while virtual currencies may have legitimate uses, some of their characteristics like anonymity make them susceptible to misuse or abuse," the Reserve Bank of India reports, quoted by multiple local news outlets.
China’s heavy-handed approach to ICO control has yet to find company among major economies, with even Hong Kong choosing to follow a similar approach to that of the US Securities and Exchange Commission.
Full story at http://bit.ly/2f3FWv6
Source: CoinTelegraph
BRICS to Discuss Cryptocurrency as Alternative to National Currencies
BRICS member states could create a cryptocurrency to function “as an alternative to other payment instruments.”
According to Kirill Dmitriev, head of the Russian Direct Investment Fund, investments in the bloc, which consists of Russia, India, South Africa, China and Brazil, is set to increase up to fourfold within the next three years.
“One other topic we’re discussing on the financial committee is cryptocurrency,” he told journalists quoted by Russian news outlet RIA Novosti.
“It may even be possible to discuss creating a BRICS cryptocurrency as an alternative to other financial instruments, and that’s what’s being debated as part of the BRICS Business Council.”
Full story at http://bit.ly/2vFu1O9
Source: CoinTelegraph
What is Bitcoin, “Bubble Territory” or “New Gold”?
Jean Pierre Verster, who is well known for predicting the African Bank’s collapse, and is a portfolio manager at Fairtree Capital in South Africa, has come out in support of many who believe the latest rise in Bitcoin price is an indication of a bubble.
The portfolio manager has said that Bitcoin is in bubble territory and that he will not be investing in it.
In differentiating the value of Bitcoin compared to its founding technology, Vester has said the digital currency is a ‘false truth while the Blockchain technology on which it is built is a ‘true truth.’
Verster is one in a long line of investors that have said they will not be investing in digital currencies, for a raft of different reasons. But it is clear that the portfolio manager still sees the value in Blockchain technology, but adds that Bitcoin is not a wise investment right now.
Full story at http://bit.ly/2f2BRHl
Source: CoinTelegraph
Google Says Russia’s Interest in Bitcoin up 220%, Mining 560%, Ethereum 760%
Google has performed an analysis on search queries of Russian residents for the first half of 2017 for information related to cryptocurrency, according to local publications. The company revealed its findings on Thursday, stating that:
"Despite the fact that the first cryptocurrency was launched in 2009, the greatest surge of interest of Russian users to this industry came in the first half of 2017. Just imagine, from January to June the number of requests for the industry as a whole increased by more than 250%."
Google revealed that the highest growth recorded in searches was Ethereum-related, which increased more than 760%. Bitcoin-related searches were up more than 220%.
In addition, users also searched for cryptocurrency mining information more frequently, resulting in the total number of mining-related searches increasing by 560%. “Cryptocurrencies and mining also fell into the top 100 queries with the words ‘how’ and ‘what is’,” Rusbase detailed, adding that the number of requests for specific cryptocurrencies also increased by the same percentage.
Full story at http://bit.ly/2vF6NIc
Source: Bitcoin News
Bitcoin Price Corrects on China News, But Uptrend Still Intact
The cryptocurrency market is a sea of red today, a development skeptics will no doubt quickly use to make the case against bitcoin as a 21st century gold.
In times of economic or political stress, investors prefer to hold safe haven assets, and while many experts believe bitcoin is the new safe haven, today's dismal performance contradicts such claims. The cryptocurrency dropped 5 percent over the last 24 hours, even while North Korea's nuclear test and heightened geopolitical tensions pushed up traditional safe haven assets like gold, Japanese Yen.
Overall, bitcoin (BTC) clocked an intraday low of $4,253 earlier today, and was trading around $4,335 levels on news China has banned initial coin offerings, one of the main trends powering this year's boom.
Still, the price decline comes amid an uptick in trading. CoinMarketCap data shows volumes on Bitfinex, which offers trading in the BTC/USD pair, are up 7.11 percent.
Full story at http://bit.ly/2vFeuhm
Source: CoinDesk
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