Investors are Comfortable With Bitcoin, Ethereum: Hong Kong Experts
Experts are starting to see a growth in the number of investors and investment firms that have become comfortable with Bitcoin and Ethereum, despite their recent volatility. In an interview with CNBC, experts including major Chinese bitcoin exchange BTCC CEO Bobby Lee and Dave Chapman, managing director of Hong Kong-based commodities and digital assets trading house Octagon Strategy, revealed that investors have become resilient toward the volatility of Bitcoin and Ethereum. Getting into mainstream. Chapman stated: "We're now sort of at ... a tipping point, where people are now....
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Reports out of Hong Kong indicate that the MyCoin Exchange has just closed, locking out more than three thousand large investors. The closure has occurred almost one year to the day after the world's largest Bitcoin exchange, Mt. Gox, closed off all exchange withdrawals on February 7th, 2014. That took almost 750,000 investor's Bitcoins with it, plus 100k of the exchange's cache. This sudden exchange closure has a potential combined value of three billion Hong Kong Dollars, which is equivalent to about $387 Million USD. MyCoin happens almost exactly one year after Mt. Gox. The investors....
Investors are still forging ahead with digital currencies such as Bitcoin and Ethereum despite the recent volatility. Many experts and professional investors still believe that there are unprecedented returns on offer.
Unknown territory.
Investors in traditional markets are not used to seeing swings of 50 percent in a month for an asset, such as what happened to Ethereum which dropped from nearly $400 to just over $200, as well as experiencing a flash crash.
There has also been a huge correction in Bitcoin price that has seen it fall from its high of $3,000. Despite this though,....
The Scaling Bitcoin workshops are gearing up for their second phase. After the initial conference in Montreal in September, Bitcoin's engineering and academic community will gather in Hong Kong later this week to discuss how best to scale up the network to allow for more than a handful of transactions per second. To get a feel for what to expect from the workshop, Bitcoin Magazine spoke with Pindar Wong, co-founder of Hong Kong's first licensed ISP and the Scaling Bitcoin Hong Kong planning committee chair, and MIT Digital Currency Initiative's Neha Narula, Scaling Bitcoin Hong Kong....
In the wake of recent fraud allegations against a Bitcoin investment company, Hong Kong Central Bank asked people to take extra precautions while investing in speculative investments such as cryptocurrencies. "Such investments may involve fraud or pyramid schemes," The Hong Kong Monetary Authority (HKMA) stated in its statement. "Given the highly speculative nature of Bitcoin, we have all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin." On Monday, Chinese news website SCMP had published a report about a Hong Kong Bitcoin....
Back in November, Hong Kong based Cryptocurrency Exchange Bitspark Limited unveiled the first ever end-to-end Bitcoin remittance solution: A much needed service that would allow Hong Kong's population to gain easy access to the advantages bitcoin offers when compared to conventional remittance services to transfer money to the Philippines. They're now extending their services from the Philippines to also serve Indonesia. The numbers behind the demand. According to the Hong Kong Government's website, more than 165,000 Indonesians and about 169,000 from the Philippines were residing in Hong....