Saudi Arabia: Central Bank wants to cooperate with Ripple!

Good news for US startup Ripple Labs. Saudi Arabian Central Bank wants to test its payment solution xCurrent as part of a pilot project. The aim of the test series is to enable as many guest workers as possible and inexpensive transfers to their home countries. Saudi Arabian Monetary Authority (SAMA) is the Central Bank of Saudi Arabia. Ripple announced on Wednesday that they entered into a … Continue reading Saudi Arabia: Central Bank wants to cooperate with Ripple!

ECB / Mersh: Bitcoin can not compete with real-time payment systems!

According to ECB Director Yves Mersch, private crypto currencies such as Bitcoin, have no chance of keeping up with ease of use, speed and security with the real-time payment system supported by the European Central Bank (ECB). At the event in Paris, Mersh asked the industry to provide quickly customer-friendly solutions for real-time payments at so-called point of sale (supermarket checkouts, service providers). “European real-time … Continue reading ECB / Mersh: Bitcoin can not compete with real-time payment systems!

Island fears power shortage because of Bitcoin!

Iceland is attracting more and more data centers producing Bitcoin because of its low electricity prices. In 2018, their energy consumption could exceed in all households. High energy consumption to generate digital currency Bitcoin, continues to make headlines. Island-based Bitcoin producers are expected to consume more electricity this year than all Iceland’s private households combined, said spokesman for the Icelandic energy company HS Orkas, Johann Snorri Sigurbergsson, the … Continue reading Island fears power shortage because of Bitcoin!

Did Visa manipulate Bitcoin price?

On Friday morning, VISA closed hundreds and thousands of debit cards, without warning, from one second to the next. Cryptopay, XAPO, Wirexapp, AdvCash, TenX .. The list of affected Bitcoin debit card providers is very long. A multitude of international maps and pretty much all European VISA debit cards that could be charged with digital currencies like Bitcoin were blocked. Thesis # 1: Is this the prelude … Continue reading Did Visa manipulate Bitcoin price?

The Austrian School – What is money actually?

Human interaction and forms of commerce Fundamental understanding of “money”, why it exists, which properties it usually possesses and what it enables society, helps us a simple thought experiment: Direct economy exchange Imagine Crusoe and Freitag are isolated on an island. Crusoe catches fish and Freitag collects berries. At the end of the day they exchange with each other. No money is needed here; Crusoe gives fish, Freitag gives … Continue reading The Austrian School – What is money actually?

NVIDIA: Graphics card manufacturer profits from cryptocurrency mining!

According to news released yesterday, NVIDIA Corporation was able to increase significantly again. Revenues increased 34% to $ 2.91 billion in the last quarter of 2017 from the last year. Frequent sale of high-priced graphics cards for crypto – mining has also contributed to the positive development of the company. The share price is significantly bigger after announcement of the sales figures. NVIDIA announced and exceeded analysts’ expectations clear yesterday. The reason for good business is … Continue reading NVIDIA: Graphics card manufacturer profits from cryptocurrency mining!

Ripple: Partnership with LianLian International

RippleNet gets richer by one member. Chinese payment service provider LianLian International joins the Ripples network to use the xCurrent software. Partnership should bring faster and cheaper transactions to China. As Ripple announced on its website, the payment network will work with Chinese company LianLian International in the future. The cooperation should help open market access to China’s vast e-commerce market and benefit from the huge sums of money … Continue reading Ripple: Partnership with LianLian International

Engineers arrested for Bitcoin mining!

Russian engineers tried to use computers in a uclear center to generate units of digital currency Bitcoin. They are now threatened with criminal proceedings. Several engineers from major Russian Nuclear Research Center have been arrested for trying to use their computers to generate Bitcoin crypto currency. The employees of the Nuclear Research Center in the city of Sarov are stopped in time. To their knowledge criminal proceedings has been initiated against … Continue reading Engineers arrested for Bitcoin mining!

Bitcoin falls below 6000 USD!

Depreciation of Bitcoin seems unstoppable. The price of the cryptocurrency dropped below the $ 6000 limit! Controversial cryptocurrency Bitcoin lost more than ten percent of its value in one day and is now worth less than $ 6,000. On the big trading platform Bitstamp, the price of the oldest and most well-known digital currency fell at times to 5920 dollars, which was 13 percent less than the day before. … Continue reading Bitcoin falls below 6000 USD!

Bitcoin: Parasite of the international financial system?

Holding a speech, BIZ chief Agustín Carstens calls Bitcoin a “bubble, pyramid scheme and environmental catastrophe”. Further integration of crypto and fiat currencies must be prevented. The Bank for International Settlements (BIS) is considered the most powerful financial institution in the world. BIS chief Agustín Carstens said in a lecture today that Bitcoin’s three basic functions of money – payment, store of value and processing … Continue reading Bitcoin: Parasite of the international financial system?