BEIJING: Bitcoin plunged below $40,000 for the first time in more than three months Wednesday after China said cryptocurrencies would not be allowed in transactions and warned investors against speculative trading in them. The comments sent the unit diving more than 10 percent and dealt it another blow soon after being battered by comments from […]
Bitcoin
Ethereum breaks past $3,000 to quadruple in value in 2021
Cryptocurrency ether broke past $3,000 on Monday to set a new record high in a dazzling rally that has outshone the bigger bitcoin, as investors bet that ether will be of ever greater use in a decentralised future financial system. Ether , the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange […]
KPK Govt plans to build cryptocurrency mining farms
PESHAWAR: The Khyber Pakhtunkhwa government is planning to build two hydroelectric-powered pilot “mining farms” to capitalize a global cryptocurrency market, a minister overseeing a new government crypto policy. The announcement comes as cryptocurrencies are gaining mainstream acceptance after Elon Musk show his interest and Morgan Stanley offering clients bitcoins. Crypto mining farms involve large investments […]
Bitcoin declines 17% as doubts grow over valuations
SINGAPORE: Bitcoin tumbled 17% on Tuesday, sparking a sell-off across cryptocurrency markets as investors grew nervous at sky-high valuations and leveraged players took profit. The world’s biggest cryptocurrency suffered its biggest daily drop in a month, falling as low $45,000. Bitcoin was last down 11.3% at 0939 GMT. The drop extended a slump of nearly […]
Bitcoin reaches 18-month high as Facebook’s Libra spurs interest
LONDON – Bitcoin jumped to an 18-month high on Wednesday, a surge analyst said was caused by nervous traders looking for safety in alternative investments and expectations that Facebook’s Libra could turn cryptocurrencies mainstream. The world’s biggest cryptocurrency has surged in value since April and was trading close to $13,000 on Wednesday. It is now […]
Rise of smaller rivals throws up fresh challenge to bitcoin
Bitcoin’s weathered hacks, heists, booms and busts to reign as the king of cryptocurrencies through its first decade. But now there’s a fresh challenge to its dominance of the fledgling market: some 2,000 smaller digital coins. Collectively, “altcoins” are gaining ground on their bigger cousin. Individually, they are gaining traction among users, gathering communities of […]
Bitcoin holds above $7,000 after hitting nine-month high
Bitcoin hovered above $7,000 (5,381 pounds) on Monday, close to nine-month highs, as the biggest cryptocurrency’s 2019 rally gathered steam. Bitcoin was last up 1.1% at $7,056 on the Bitstamp exchange after soaring 14% on Saturday – its second largest daily jump this year – to its highest since early August. Analysts and traders said […]
Vote — third world’s Bitcoin
In the world of economics, where the main thrust is on earning it is not surprising to see people from all walks of life, selling themselves. Although this jargon is usually taken in a negative sense but if given a slightly deeper thought, it really makes a lot of sense. This is obvious from the […]
So what are deep web, dark web and all sorts of webs you heard from Shahid Masood?
Recent claims by prominent conspiracy theorist anchorperson Dr Shahid Masood have sparked a massive interest among Pakistanis for the buzzwords like ‘deep web’, ‘dark web’, ‘dark room’, ‘red room’, cryptocurrency and whatnot. This is evident from the spike in search trends for the said terms. The disgraced anchorperson had claimed – but failed to produce […]
Egypt’s mufti says bitcoin forbidden in Islam
Egypt’s grand mufti has said that bitcoin is forbidden in Islam, warning the digital currency could be used for criminal purposes. Bitcoin, launched in 2009 and based on a peer-to-peer payment system, poses “high risks to individuals and states,” Shawqi Allam said in a published ruling. It could provide “stable and secure financial resources for […]