Norwegian prosecutors demand bitcoins for drug saleshttp://indianexpress.com/article/world/norwegian-prosecutors-demand-bitcoins-for-drug-sales-4563597/
Three men charged in Norway with selling drugs online have to pay back 120 bitcoins ($144,300) on top of millions in Norwegian kroner — the first time the Scandinavian country has demanded to be paid in the electronic currency, a prosecutor said Friday. Richard Beck Pedersen says the men in their 30s allegedly used underground websites to sell drugs, and that most of the payment was done with bitcoins because transactions with the electronic currency have a high degree of anonymity.
Beck Pedersen said the trio behind the online shops was formally charged Friday with selling drugs.
He added investigators have “evidence for the sale in bitcoins,” adding prosecutors also demand they pay 3.1 million Norwegian kroner ($360,167). A trial is expected later this year.
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ING, SocGen to test LNG trading with blockchain in months http://www.business-standard.com/article/reuters/exclusive-ing-socgen-to-test-lng-trading-with-blockchain-in-months-117031000073_1.htmlBanks ING and Societe Generale are in talks with traders to test liquefied natural gas (LNG) trading based on blockchain, the technology starting to shake up the traditional energy industry.
Blockchain, which originates from digital currency bitcoin, works as an electronic transaction-processing and record-keeping system that allows all parties to track information through a secure network, with no need for third-party verification.
While established energy suppliers and traders will continue operating as they are for the foreseeable future, blockchain is starting to break into the power market, nudging the status quo in an industry that has been slow to modernise.
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Investors who missed bitcoin rally turn to dash, ether, monerohttp://www.livemint.com/Money/bHgV6EwzNKVKSrI3JsFRZN/Investors-who-missed-bitcoin-rally-turn-to-dash-ether-mone.html
With bitcoin on a tear, Mira Kwon decided there’s more money to be made elsewhere. A little over a month ago, the University of Maryland economics graduate began pouring more than $2,000 into a different cryptocurrency called dash.
“Bitcoin is expensive,” Kwon, a mother, investor, Korean interpreter and US Army veteran, said in a telephone interview. “I think dash has a bigger growth rate.” So far, it’s worked. Dash has risen to $46 from $15.20 when Kwon started, according to prices at CoinMarketCap.
With a market value of $326 million, dash has become the third-largest crypto-currency, behind bitcoin and ether. Other digital currencies are on the move, too, including monero and zcash, to name some of the 700-plus out there. Investors who feel they missed out on bitcoin are seeking a different path to crypto-riches.
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Ontario regulators say blockchain use may require approvalhttp://timesofindia.indiatimes.com/business/international-business/ontario-regulators-say-blockchain-use-may-require-approval/articleshow/57542753.cmsThe Ontario Securities Commission, Canada's largest securities regulator, said on Wednesday companies using blockchain technology in their financial services may need to register or file a prospectus or meet other regulatory requirements.
The OSC made the announcement in a notice that followed a white paper on Monday addressing the role new technology like blockchain will have on innovation in the industry.
It asked companies operating or planning a blockchain-based product or service to contact LaunchPad, the regulator's "sandbox" initiative that helps fintechs plan around compliance requirements.
Financial technology, or fintech, has transformed the banking industry in recent years by using new technology to provide more accessible, efficient, and often cheaper financial services.
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Bitcoin On The Movehttp://www.moneycontrol.com/news/rupee/bitcoin-on-the-move_8608261.htmlThe value of digital currency Bitcoin surged to $1290 on news that the US Securities and Exchange Commission is likely to approve the first bitcoin based ETF as early as March 11. Bitcoin has gained over 33 percent this year and achieved our target of $ 1216 set out in the Mecklai Graph of the week dated on 29th December 2016.
The currency has steadily rallied after US President Donald Trumps election and investors belief that Trumps economic plan will increase spending, which would grow the US economy. Indias bank note ban and Chinas crackdown on outflows also saw many investors moving into Bitcoin to shield themselves from currency devaluation and cash shortages in the market.
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Bitcoin, gold and the risk of comparisonshttp://www.livemint.com/Opinion/rdDFl98pN7a0owa9v29QxK/Bitcoin-gold-and-the-risk-of-comparisons.html
One simple chart is creating a lot of buzz in markets. It shows that for the first time in history, one bitcoin is worth more than one troy ounce of gold. Despite the flurry of discussion this factoid has generated, many are stupefied, not quite knowing what to do with this information or how to trade on it. Maybe it’s because they have little to do with each other.
In fact, gold and bitcoin don’t even represent the same asset class. Comparing them is not like apples and oranges (both fruit). Better said, it’s akin to comparing the prices of soybean futures and Intel stock. Many may argue that both gold and bitcoin are currencies as they can be used to purchase goods and services. Or, they may say both are commodities in that they have strict rules around meeting specified minimum standards and have associated futures and options contracts. But economics 101 argues that gold is a commodity and bitcoin and blockchain are technology.
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Bitcoin regulation: How India compares to the rest of the world in the regulatory approach to bitcoinhttp://tech.firstpost.com/news-analysis/bitcoin-regulation-how-india-compares-to-the-rest-of-the-world-in-the-regulatory-approach-to-bitcoin-365489.htmlBitcoin has hit an all time high of $1,200 (approx Rs 80,000) based on talks of the first US Bitcoin exchange-traded fund getting approval from the Securities and Exchange Commission. In India, Bitcoin is selling for over Rs 1,00,000 per bitcoin in Bitcoin trading apps such as Unocoin. Reserve Bank of India Deputy Governor R Gandhi recently pointed out the risks associated with Bitcoin transactions at a FinTech conference.
“We can see that in these types of virtual currencies there is no central bank or monetary authority. They pose potential financial, operational, legal, customer protection and security-related risks,” Gandhi said. “My arguments against virtual currencies stem from two elements — the concept of confidence and anonymity. The currency should be able to sustain these two elements forever. It will impair its exalted status once either of these two elements gets affected.”
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IBM, Maersk in blockchain tie-up for shipping industryhttp://cio.economictimes.indiatimes.com/news/corporate-news/ibm-maersk-in-blockchain-tie-up-for-shipping-industry/57508846IBM and Danish transport company Maersk said they were working together to digitize, manage, and track shipping transactions using blockchain technology.
The technology, which powers the digital currency bitcoin, enables data sharing across a network of individual computers. It has gained worldwide popularity due to its usefulness in recording and keeping track of assets or transactions across all industries.
The blockchain solution being built by the two companies is expected to be made available to the ocean shipping industry later this year, according to a joint statement from International Business Machines Corp and the container unit of A.P. Moller-Maersk. It would help manage and track the paper trail of tens of millions of shipping containers globally by digitizing the supply chain process from end to end.
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Cyber criminals go digital, lay bitcoin trap for investors
http://indiatoday.intoday.in/story/cyber-crime-bitcoins-digital/1/897562.htmlAs more and more investors take to digital currencies like bitcoin, leading to a sharp rise in their prices postdemonetisation, cyber criminals are also exploring innovative ways to pick virtual wallets.
Last week, a Delhi-based businessman lost Rs8.5 lakh to an alleged 'bitcoin miner', the term used for an agent who generates digital currency, who promised him 10 bitcoins with an assurance that the investment will rise twofold within next six months. The businessman chose not to file a complaint with police as digital currencies are not recognised by the RBI, even though there are varied views on its transactional legality.
"Cases of fraud related to bitcoins are becoming more frequent," a senior crime branch officer told Mail Today. This is partly because many global companies have started accepting digital currency. "This has attracted many new investors. However, cashing on its rising popularity, some scamsters are also running fraud set-ups," said the officer, requesting anonymity.
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IIITM-K to Initiate First Blockchain Technology Academy in Kerala http://www.business-standard.com/article/pti-stories/iiitm-k-to-initiate-first-blockchain-technology-academy-in-ker-117030500439_1.htmlAfter Bengaluru, Kerala will be the second state to get its own 'Blockchain Academy', which will spearhead research and innovations and impart technical consultancy in a cutting-edge technology, described as the most promising innovation since the Internet.
The Indian Institute of Information Technology and Management-Kerala (IIITM-K) will set up the unique Academy in association with the international learning and business development platform, Blockchain Education Network (BEN), a release said here today.
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Hyperledger nears release of its first production-ready blockchainhttp://timesofindia.indiatimes.com/business/international-business/hyperledger-nears-release-of-its-first-production-ready-blockchain/articleshow/57454066.cmsThe Hyperledger project, a cross-industry open source blockchain group led by the Linux Foundation, plans to release its first production-ready distributed ledger code base by the end of the month, as projects involving the nascent technology begin to mature.
The group, whose more than 120 members include IBM, JPMorgan Chase & Co, Cisco Systems Inc and the Bank of England, said in a blog post published on Friday that its technical committee had promoted its first blockchain project, Hyperledger Fabric, to an active phase.
Hyperledger Fabric is a type of blockchain designed be used as a foundation to build distributed applications. The team of software developers involved in the project is finalizing the first version of Fabric that could be used by large businesses to build applications and plans to release by the end of March, according to the blog post.
"Our hope is that it is code that people can put into serious production," Brian Behlendorf, Hyperledger's executive director, told Reuters.
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Bitcoin hits all-time high as talk of U.S. ETF approval intensifieshttp://timesofindia.indiatimes.com/business/international-business/bitcoin-hits-all-time-high-as-talk-of-u-s-etf-approval-intensifies/articleshow/57457713.cmsDigital currency bitcoin hit a record high on Friday on optimism about the approval of the first U.S. bitcoin exchange-traded fund by the Securities and Exchange Commission.
"There's one catalyst at the moment and that is the expectation that the Winklevoss Trust will be approved on the 11th of March. That's the only game in town," said Daniel Masters, portfolio manager of Jersey-based Global Advisors Bitcoin Investment Program.
Investors Cameron and Tyler Winklevoss have a pending application with the SEC for a bitcoin ETF, which was filed nearly four years ago. On March 11, the twins are expected to receive a final decision from the U.S. Securities and Exchange Commission on whether they can list their ETF.
If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity.
On Friday, bitcoin climbed to a record $1,298 on the BitStamp platform. Bitcoin last traded at $1,263.01, up nearly 5 percent on the day. So far this year, bitcoin has surged more than 30 percent.
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Bitcoin: Can RBI ignore the elephant in the room?http://www.business-standard.com/article/news-ians/bitcoin-can-rbi-ignore-the-elephant-in-the-room-117030300318_1.html
Virtual currencies like Bitcoin are all the rage in FinTech, and could potentially transform global commerce in the years ahead. Users are adopting them in the thousands each day and the value of trade in these currencies is witnessing unparalleled growth.
The world over, regulators are working out carefully-crafted regulations to foster Bitcoin growth. In India, however, even with the new cashless push by the government and existing Bitcoin trade spiking post-demonetisation, the Reserve Bank of India (RBI) continues to shy away from recognising and regulating virtual currencies.
On February 1, the RBI issued a yet another cautionary press release, on the back of an earlier one issued in December 2013, warning users of a risk they are likely to already be aware of -- that it (the RBI) does not regulate and has not licensed any virtual currencies in India, and anyone using them does so at their own risk.
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bitcoin has crossed 1500 in the past I wanna buy some hope price falls soon  Nope, I don't think it has crossed $1500 in the past. We are at all time high now, across currencies.  |
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Bitcoin hits record $1200 high: Here's the outlook ahead
http://www.moneycontrol.com/news/commodities/bitcoin-hits-record-361200-high-heresoutlook-ahead_8583141.htmlAfter being the top performing 'currency' in 2016, Bitcoin has rallied to all-time highs and is trading at around levels of USD 1220 on the CoinDesk Bitcoin Price Index.
The volatile currency, which fell from a high of over USD 1,100 to below USD 800 in January, has been enjoying its longest stretch above USD 1,000 since its inception back in 2008. The currency has gained steam on the hopes that American entrepreneurs Cameron and Tyler Winklevoss will receive a green signal from the US government to create the first bitcoin exchange-traded fund ( ETF ).
Saurabh Agrawal, CEO and Co-founder, Zebpay said, “The Bitcoin prices are on a rise. ETF news has definitely triggered the upward movement, though chances of getting approval are low, but if the ETF gets approved, it will be a big milestone for the entire Bitcoin ecosystem, and we may see Bitcoin prices touching USD 1500 very soon.”
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Bitcoin ‘creator’ races to patent technology with fugitive gambling tycoonhttp://www.livemint.com/Industry/GncpT8wPfhLkRJJtaoWRqN/Bitcoin-creator-races-to-patent-technology-with-fugitive-g.htmlThe man who last year made global headlines by claiming to be Satoshi Nakamoto, the creator of bitcoin, is working with a fugitive online gambling entrepreneur to file scores of patents relating to the digital currency and its underlying technology, blockchain.
Craig Wright, the Australian computer scientist who made the Satoshi claim, has the backing of Calvin Ayre, a wealthy Canadian entrepreneur, according to people close to Wright and documents reviewed by Reuters. Ayre has been indicted in the United States on charges of running online gambling operations that are illegal in many US states – an accusation he rejects.
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