What Determines the Value of Bitcoin?
Bitcoin's value is a perceived regard for its benefits and usefulness. The term value, as used here, is not to be confused with price, which is the monetary cost of a bitcoin. The usefulness and consequent value of Bitcoin is a result of many aspects of its innovation, its network, and its features. This guide discusses the most important factors that lead its users to consider Bitcoin to be valuable. Scientific Value. To the general field of Science, the Bitcoin innovation is valuable for having solved the long-standing Two Generals Problem (or Byzantine Generals' Problem). Satoshi....
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After spending weeks moving sideways, BTC price seemed to be close to a new high. However, the cryptocurrency seems to be stuck just below the resistance level at $60,000. Analyst Ben Lilly has published a report in which he determines what has caused the stalemate and how BTC has a “bullish combination” for the following […]
PayPal Inc. has filed a patent application for a modular payment device that accepts bitcoin and other digital currencies. The application, filed with the U.S. Patent & Trademark Office, includes a lengthy description of how it manages virtual currencies and it specifically names bitcoin, Litecoin and Dogecoin. The application also describes physical characteristics of the device, and it includes an image of the device. Modular Payment Module. The application’s abstract describes a modular payment module. The module includes a chassis which has a modular device connector. A payment....
The Gazette further determines that this decision will enter into force 20 days after its publication, which is May 16. In a move that could potentially foster the growth of Cuba's nascent tech industry, the Banco Central de Cuba (BCC), the country's central bank, will begin issuing licenses for Bitcoin (BTC) and other virtual asset services providers (VASPs).According to the Official Gazette, No. 43 published Tuesday, which includes a Central Bank of Cuba resolution, anyone wanting to provide virtual-asset-related services must acquire a license first from the central bank. It reads:"The....
China’s Supreme Court adds fuel to the fire after the Russian military attacks on Ukraine slipped the crypto market cap to 1.5 trillion. The court declares crypto-fundraising illegal and determines jail time and fines for suspected persons. To be clear, the new bill announced on Thursday is an amendment to previous legislative documents regarding cryptocurrency […]
The Financial Superintendence of Colombia presented a project that seeks to bring clarity to how links between banks and virtual asset service providers (VASPs) will be handled in the future. The document defines certain key concepts and determines a set of prerequisites that banks need to verify before accepting virtual asset service providers as customers.
Virtual Asset Service Providers to Be Regulated in Colombia
Regulation is becoming a key goal for countries in Latam, where cryptocurrency adoption is growing at significant rates. Now, the Financial Superintendence of....