A $24 million mansion is going on sale in London — but you can only buy it in bitcoin

  • Lev Loginov, co-founder of property investment company London Wall, which bought the property in 2013, is hoping paying for property in bitcoin could be the future.
  • He said that the company has a pipeline of properties that will go on the market and only be available to buy in bitcoin.
  • Loginov’s broader thought is that property ownership records can be transformed with blockchain technology.
  • “It will have to be a specialist blockchain for property.
  • For example, the tax on the property that will be paid to the government after the sale could be a couple of million pounds.

The £17 million price tag equates to over 4,000 bitcoin at Friday’s price.
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South Korea bans all new cryptocurrency sales

South Korea bans all new cryptocurrency sales - CNBC  #Crypto #BitCoin

  • South Korea’s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings.
  • The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored.
  • It added Friday’s announcement doesn’t mean the government is accepting trading of virtual currencies as part of its financial system, and will continue to monitor markets to see additional regulations are needed.

South Korea’s financial regulator said the trading of virtual currencies needed to be tightly controlled.
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Three of China’s Biggest Bitcoin Exchanges Are Shutting Down

Three of China's biggest bitcoin exchanges are shutting down

  • Two of China’s largest exchanges for buying and selling Bitcoin, OKCoin and Huobi, announced on Friday that they will stop trading Bitcoin for Chinese yuan effective immediately.
  • While the suddenness of the Bitcoin trading ban was surprising, it reflects a larger trend in China toward regulating crypto markets.
  • Fears that this would lead to an outright ban on trading cryptocurrencies in China were confirmed Thursday when the Chinese news outlet Yicai reported that “the order has come from above” to shutter all Chinese Bitcoin exchanges by the end of September.
  • The announcement OKCoin was followed by a document leaked on the Chinese social media site Weibo that purports to show the contents of a verbal directive issued to Chinese Bitcoin exchanges from government officials.
  • Read More: China is on Track to Fully Phase Out Cash

    At the time of writing, most major Chinese Bitcoin exchanges had complied with the government’s directive.

The announcements come in response to a Chinese directive to halt Bitcoin trades by the end of the month
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‘Bitcoin cash’ surges 40% in single day as investors bet on its faster processing speeds

Article:

  • The bitcoin offshoot, bitcoin cash, soared Friday after indications the alternative digital currency could achieve its goal of speeding up transactions.
  • Bitcoin cash rose 40 percent from Thursday’s close of $460.53 to briefly hit $655 Friday afternoon, according to CoinMarketCap.
  • On Wednesday morning, bitcoin cash “miners” successfully demonstrated that the digital currency could support an eight megabyte block, versus the original bitcoin’s one megabyte.
  • The eight megabyte block “has proven that bitcoin cash is working,” said Charlie Hayter, CEO of digital currency information website CryptoCompare.
  • With Friday’s gains, bitcoin cash ranked third by market value at around $10 billion, according to CoinMarketCap.

The bitcoin offshoot, bitcoin cash, soared Friday after indications it could achieve its goal of speeding up transactions.
Continue reading “‘Bitcoin cash’ surges 40% in single day as investors bet on its faster processing speeds”

‘Bitcoin cash’ surges 40% in single day as investors bet on its faster processing speeds

  • The bitcoin offshoot, bitcoin cash, soared Friday after indications the alternative digital currency could achieve its goal of speeding up transactions.
  • Bitcoin cash rose 40 percent from Thursday’s close of $460.53 to briefly hit $655 Friday afternoon, according to CoinMarketCap.
  • On Wednesday morning, bitcoin cash “miners” successfully demonstrated that the digital currency could support an eight megabyte block, versus the original bitcoin’s one megabyte.
  • The eight megabyte block “has proven that bitcoin cash is working,” said Charlie Hayter, CEO of digital currency information website CryptoCompare.
  • With Friday’s gains, bitcoin cash ranked third by market value at around $10 billion, according to CoinMarketCap.

The bitcoin offshoot, bitcoin cash, soared Friday after indications it could achieve its goal of speeding up transactions.
Continue reading “‘Bitcoin cash’ surges 40% in single day as investors bet on its faster processing speeds”