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So much speculations about the Re-election of Chinese President Xi Jinping on Cryptocurrency Trading resumption.   The re-election of Chinese President Xi Jinping, which is expected to fuel the resumption of cryptocurrency trading, is set to occur later this year. Analysts such as Jon Creasy, a bitcoin researcher, emphasized that the reelection of President Xi could very likely lead to the resumption of bitcoin and cryptocurrency exchanges. Creasy  wrote: “My prediction is this: as soon as President Xi Jinping is reelected — and he will be — conservative, free(er)-trade legislation will be put in place, and Bitcoin exchanges will be reinstated. In fact, I wouldn’t be surprised to see the Chinese government encouraging certain exchanges and cryptocurrencies, once this legislation hits. Historically speaking, President Xi Jinping has been one of the largest advocates of free markets China has seen in quite some time, and I expect this trend to continue.” Photo credit: Shut

A trusted news source within the Chinese cryptocurrency industry, has revealed that OKEX will soon launch peer-to-peer (P2P) over-the-counter (OTC) bitcoin-to-fiat trading platform..... reported   CNLedger. OKEX and Huobi-Pro Now Based in Hong Kong OKEX is headquartered in Causeway Bay, Hong Kong, and so are companies including BTCC and Huobi-Pro, which previously operated bitcoin and cryptocurrency trading platforms in China. But, as CNLedger noted, these companies plan to launch P2P OTC markets in Hong Kong, which would allow investors to trade the Chinese yuan (CNY) for bitcoin and other cryptocurrencies. “So OkEx (and likely, Huobi-Pro) will soon launch P2P bitcoin tradings with various fiat currency support,”  CNLedger  reported .  “We believe they’ll support CNY and some others like USD, JPY. They are registered outside China, and are operating independent of OKCoin. They’re not as convenient as exchanges and are less safe (many scammers). But it’s still much better th

Bitcoin splits again, creating a new cryptocurrency called bitcoin gold. The price of bitcoin took a hit after the cryptocurrency underwent another split, with the newly-created bitcoin gold seeing its value plunge over 60 percent. Bitcoin hit a low of $5,374.60 on Wednesday lastweek before recovering nearly $300. The initial fall followed the "hard fork" that occurred Tuesday. What is the 'hard fork' about? Firstly, it's important to understand  how the bitcoin system works . Transactions by users are gathered into "blocks" that are turned into a complex math solution. So-called miners, using high-powered computers, work these solutions out to determine if the transaction is possible. Once other miners also check the puzzle is correct, the transactions are approved and the miners are rewarded in bitcoin. The need for high-end machinery has meant that mining is controlled by a small group of people with powerful computers.

Apple co-founder Steve Wozniak believes that bitcoin is superior to both gold and the “phony” U.S. dollar. As reported by  Bitcoin Magazine , Wozniak made this assertion at the Money 20/20 conference in Las Vegas, explaining that although bitcoin is criticized for its price volatility, it is more stable than government-backed currencies such as the U.S. dollar since it has a fixed supply, while fiat currencies can be easily diluted. “There is a certain finite amount of bitcoin that can ever exist,” the publication cites Wozniak as saying. That makes it “more genuine and real” than the dollar, which is “kind of phony” since the U.S. government can issue new units of currency for purely political reasons. Praising bitcoin’s utility as a store of value, he compared it to owning an appreciable asset such as a house:  “Your house has value. And if it is a house today, 40 years from now, it still is a house in value,” he said, even if the price increases over time&qu

Bitcoin exchange Coinbase announced the use of US bank Account. Coinbase announced that it will now allow users to buy bitcoin, ethereum, and litecoin instantly when paying with a US bank account. Coinbase made the announcement in a  blog post . Previously, customers who purchased cryptocurrency using a bank account had to wait several days — sometimes as long as a week — before they received access to their assets. Now, customers who pay for their cryptocurrency purchases using a US bank account can buy up to $25,000 worth of BTC, ETH, and LTC and receive access to their coins immediately. This will be a welcome addition for consumers, many of whom desire to purchase ether so they can participate in initial coin offerings (ICOs), but new users in particular often do not realize they need to plan ahead to make sure their coins are available at the start of the ICO. From the announcement: “Our mission is to make Coinbase the most trusted, safe, and easy-to-use digital cu

‘Everyone is Excited About Blockchain’ Bitcoin Price ‘Too Expensive’:.... World Bank President! The president of the World Bank has praised blockchain technology while expressing skepticism of the current valuation of bitcoin price. World Bank president Jim Yong Kim was speaking to CNBC in an interview when he talked up the potential of blockchain technology in the financial sector before adding   that cryptocurrency blockchains should been treated with caution. He stated: " The blockchain technology is something that everyone is excited about. Bu,t we have to remember that bitcoin is one of the very few instances and other times that blockchain was used – they were basically ponzi schemes. It’s very important that if we go forward with it, we’re sure that it’s not going to be used to exploit. " Curiously, Kim went on to plug existing centralized FinTech payment platforms, citing the example of Chinese e-commerce giant Alibaba’s hugely popular payments platform, Alipa