cryptocurrencies | Common News Update

Nov302018 by adminNo Comments

DJ Khaled and Mayweather fined over cryptocurrencies

Technology

Music producer DJ Khaled and boxer Floyd Mayweather Jr have settled charges in the US after they secretly received payments for promoting cryptocurrencies. According to the US Securities and Exchange Commission (SEC), the pair have been fined without admitting or denying the accusations.Mayweather failed to disclose that he had received promotional payments from three companies which had made Initial Coin Offerings (ICOs) - a controversial method of raising capital by creating coins or tokens using the blockchain technology which underpins Bitcoin.ICOs reference the initial public offering (IPO) of companies which list on publicly traded stock markets, but see companies issue digital coins tied to their own value instead of shares.Both men had taken part in the ICO by a com...

Oct122018 by adminNo Comments

Cryptocurrencies suffer $18 billion drop in value over three days

Finance

This was a tough week for cryptocurrencies. Bitcoin finally began to stabilize Friday, but not before the total cryptocurrency market lost $ 18 billion of its already waning value in the course of a few days. The world's largest and most widely owned digital asset began its slide Wednesday evening and fell below $ 6,200 for the first time in a month, according to data from CoinDesk. Bitcoin was mostly stable in the $ 6,200 range as of Friday afternoon but had kicked this week off well above $ 6,500, ending the week about 5 percent lower. Other cryptoc...

Mar262018 by adminNo Comments

Cryptocurrencies: Fears, fortunes and uncertainty

Finance

By Sajai Singh & Yajas Arvind SetlurAfter an incredible 2017, India’s cryptocurrency investors now find themselves in the face of uncertainty. In February 2018, the finance minister Arun Jaitley’s Budget speech, and one line in particular, caused pandemonium in the national press and resulted in bitcoin prices plummeting to $ 8,800, from an all-time high of $ 19,343 barely two months earlier. Jaitley’s chose his words cautiously and never mentioned a ban or any specific regulations. Yet, the tone of his speech was clear. The government was not in favour of cryptocurrencies, and would take active steps to discourage its use. The finance minister stated that the government does not consider cryptocurrencies as legal tender, thereby reiterating previous warnings issued by the Reserve Bank...

Mar12018 by adminNo Comments

Bill Gates says crypto-currencies cause deaths

Technology

Crypto-currencies are killing people in a "fairly direct way", Microsoft founder Bill Gates has said.He was referring to the way digital currencies like Bitcoin are used to buy drugs like synthetic opioid fentanyl.In an "ask me anything" session on news website Reddit, he said that the anonymity of digital currencies meant they were linked to terrorist funding and money laundering.Some criticised him, saying he was ill-informed about the technology.Asked by one user for his opinion on the technology, Mr Gates replied: "The main feature of crypto-currencies is their anonymity. I don't think this is a good thing. The government's ability to find money laundering and tax evasion and terrorist funding is a good thing."Right now, crypto-currencies are used for buying fentanyl and other drugs so...