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Venezuela’s economic crisis is impossible to ignore. President Nicolás Maduro’s attempt to withdraw $1.2 billion of the country’s own gold from the Bank of England (BoE) has been rejected. The notion of a sovereign state being denied access to its own wealth is a concept that’s hard for bitcoiners to countenance. One thing is certain: the case […]
The post Bank’s Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for Bitcoin appeared first on Bitcoin News.
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Hyperinflation has taken off to cartoon proportions in Venezuela, leaving the government to take rather drastic steps in trying to restore confidence in its domestic market. That’s a very heavy, ambitious goal, and so the government ordered banks and exchanges to remove five decimal places in the hope of curbing hyperinflation. And to limit further […]
The post Venezuela Bolivar Re-Denomination Gets Smartphone App appeared first on Bitcoin News.
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Latest reporting out of Washington appear to signal no deal struck between the Trump administration and the government of Turkey under President Recep Tayyip Erdoğan, potentially deepening an already fragile financial situation. Turkey’s lira has crashed double digits in recent months, and further as tensions between the two countries, over an American pastor’s jailing, continue […]
The post Trump vs Erdoğan: Bitcoin Is the Answer to Turkey’s Financial Chaos appeared first on Bitcoin News.
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A new Venezuelan fiat currency, ‘anchored’ to the nation’s crypto, the Petro, is expected to start circulating in the second half of August. The news was announced by president Maduro himself, along with other measures intended to improve the economic situation in the country. The ‘Sovereign Bolivar’ will have less zeros than the inflated ‘Strong […]
The post Bolivar ‘Anchored’ to the Petro to Be Issued in August, Maduro Says appeared first on Bitcoin News.
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Back in April, news.Bitcoin.com reported on a charity called Eat BCH that’s been feeding the hungry in Venezuela with food purchased with bitcoin cash (BCH) donations. Since then the group has also started feeding people in South Sudan where citizens in the East-African region are suffering from economic turmoil and a lack of daily nourishment. […]
The post BCH Powered Charity ‘Eat BCH’ Starts Feeding People in South Sudan appeared first on Bitcoin News.
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Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply. Also read: India’s Supreme Court Keeps Ban on Banks’ Crypto Services, For Now Zimbabwe Bans Crypto Issued 11 May, the Reserve Bank of Zimbabwe, […]
The post Zimbabwe Bans All Cryptocurrency Activity, Businesses Have 2 Month Grace Period appeared first on Bitcoin News.
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Washington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a region […]
The post Why Venezuela’s New National Cryptocurrency El Petro Will Fail appeared first on Bitcoin News.
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Back in October, we reported on the launch of the peer-to-peer trading platform called Localbitcoincash. Since then the website has seen some updates, more users are exchanging, using the platform, and the developer of the exchange has plans to add a ‘shapeshifting-like’ service to the portal shortly. Also read: 2017: The Year of Altcoins, Forks, and […]
The post Localbitcoincash.org Plans to Add Zero-Fee BCH-Based ‘Shapeshifting’ Trades appeared first on Bitcoin News.
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