No less than one million people had to flee from their homes in Chile after a powerful quake jolted the country’s central region. To help the survivors, SurBTC, Chile’s first fully fledged Bitcoin exchange, has created an account with the aim to help in collecting funds. In a blog post, this Bitcoin exchange also outlined that the account will be only used to collect donations for the survivors. The features of this account are as under: 0% fee on every deposit, withdrawal or other transactions. This will be done both in Chilean Peso and Bitcoin. Every Bitcoin will be converted to Chilean Peso. SurBTC will only aid in collecting funds and the money will be given to chileayuda.com. The address is: 32hpM5uCFHFEkV1UuXWfwFef2u7GNKa4Yj As per a BBC report, close…
Much like gold, oil, or soybeans, Bitcoin is now officially considered a commodity. The agency that regulates the US commodity trading market, the Commodity Futures Trading Commission (CFTC) has finally recognized the digital currency as a commodity. The debate on bitcoin can be defined as a commodity or not as been here for quite some time and the FCTC. By officially recognizing the digital currency as a commodity the CFTC assures its authority to supervise the trading of digital currency futures and options, which will now be subject to the agency’s regulations. If there is any irregularity, such as manipulation, the CFTC may file charges against the officials of that market. Furthermore, if a company wants to operate a trading platform for Bitcoin…
When you decide to trade in Bitcoin, you must know that there are currently many options available for individuals looking for Bitcoin exchanges. However, there are always a chance of you stumbling upon an exchange that is nothing but scam. We have seen multiple events in past that conjointly point to the same “scandalous” conclusion — people losing money. Therefore, it becomes necessary to research a bit before zeroing-in on a Bitcoin exchange. As a Bitcoin news website, our search for such a reliable exchange has now brought us on the doors of Cryptonit. Looking at their website, one can see how the exchange caters for traders wishing to trade between multiple fiat and cryptocurrencies. These assets include: Bitcoin, Litecoin, Peercoin, Namecoin, Dogecoin, as…
Chile’s government has declared a state of emergency in a coastal town of Coquimbo where 15 foot waves came ashore in the wake of a massive earthquake that has left ten dead in the Latin American nation. Tsunami waves made landfall north and south of the quake’s epicenter along Chile’s long coastline, with tsunami warnings for the US west coast. The earthquake represents the largest quake in the world this year, its duration more than three minutes. Dozens of aftershocks followed. The initial quake could be felt in Brazil and Argentina: Damage along the coastline: Chile’s first Bitcoin exchange, SurBTC, wants to help in the aftermath of the 8.3 earthquake, which is stronger than the recent Nepal and Haiti earthquakes. “The damage in many fishing…
Bitcoin is now a commodity according to the Commodity Futures Trading Commission (CFTC). On Thursday the organization publicly stated it had settled with a Bitcoin exchange for trading option contracts after an enforcement case against a Bitcoin operator. “In this order, the CFTC for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities,” according to the press release. CFTC now has authority to oversee cryptocurrency futures and options. Bitcoin derivatives and futures platforms must register as a swap execution facility or designated contract market. “While there is a lot of excitement surrounding Bitcoin and other virtual currencies, innovation does not excuse those acting in this space from following…
Financial markets are tuning in closely to the upcoming monetary policy statement from the Federal Reserve or the U.S. central bank, as any interest rate changes could have a strong impact across various asset classes, including bitcoin prices. The FOMC or Federal Open Market Committee had been expected to hike interest rates sometime this year, as the U.S. economy has been able to keep up its steady pace of jobs gains and overall growth. However, recent economic issues stemming from China and the emerging markets could force central bank officials to stand pat. Rate Hike Bad for Bitcoin Prices? Despite that, an actual interest rate hike from 0.25% to 0.50% might still be on the table, possibly spurring a strong rally for the U.S. currency. In effect, this could…