The Ministry of the Interior of the Russian Federation (MVD) has issued new statements on bitcoin and its possible regulation under domestic law. The agency tasked with implementing government policy and regulation suggested it would wait on a decision by the Bank of Russia, the country’s central bank, before taking any action on matters of […]
Archives for February 2015
Markets Weekly: Slow Week for Bitcoin Price as ‘Grexit’ Looms
The bitcoin price stayed relatively flat over the last week, trading around the $225 mark. The digital currency opened on 2nd February at $226.40 and closed seven days later at $222.87, showing a loss of 1.56% over the period, according to the CoinDesk Bitcoin Price Index. Continue reading at CoinDesk Powered by WPeMatico
Hong Kong Exchange MyCoin Disappears with Up To $387m, Reports Claim
Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ($386.9m) in investor funds. If true, the supposed losses are a staggering amount, although this estimate is based on the company’s own earlier claims that it served 3,000 clients who had invested […]
Bitcoins: Virtual Currency That Is Here to Stay (video)
In the first of a 3-part series, Mr. Sagalow looks at Bitcoins, the peer-to-peer payment system that uses open-source software. Recently, Great American Insurance introduced a new fidelity insurance policy for Bitcoin theft. According to Ty “…the market is still evaluating the policy…its terms and conditions as well as which companies are eligible to purchase […]
Bitcoin Risks: Mismanagement and Theft (video)
In this second part of the Bitcoin series, Ty Sagalow explains the growing legitimacy of Bitcoins, and risks associated with the peer-to-peer payment system. There are approximately $8 billion dollars of Bitcoins around the world, says Ty, used to buy a growing number if online products and services. He questions whether holding and storing Bitcoins has risk and what it means for the insurance industry. Mr. Sagalow sees three […]