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Bitcoin: Bullish?

Bitcoin: Bullish?. The volatile crypto-currency is again drawing large investors, despite doubts that it will always remain a peripheral player. Bitcoin : Bullish?. Australian entrepreneur Domenic Carosa is investing $30 million in the Future Capital Bitcoin Fund

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Bitcoin: Bullish?

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  1. Bitcoin: Bullish? The volatile crypto-currency is again drawing large investors, despite doubts that it will always remain a peripheral player
  2. Bitcoin: Bullish? Australian entrepreneur Domenic Carosa is investing $30 million in the Future Capital Bitcoin Fund Carosa will not invest directly but, taking a cautionary route, will target companies facilitating trade and exchange in Bitcoin.
  3. Bitcoin: Bullish? Billionaire Virgin owner and space-tourism promoter Richard Branson, and Yahoo co-founder Jerry Yangrecently invested $30 million into BitPay which processes Bitcoin payments. Customers are obviously purchasing and paying in Bitcoin, hence the investment. About 20,000 merchants accept Bitcoin, stored by customers in virtual wallets like Coinbase, states the Wall Street Journal.
  4. Bictoins: FYI Bitcoins are ‘stored’ in virtual wallets, provided by companies such as Coinbase. There is also a Bitcoin wallet app for Android phones. The value of a Bitcoin is whatever the two or more parties trading in it, decide it will be. While paying with a credit card comes with a transaction fee of 3% or more, paying with Bitcoins gets you a 1% or less fee.
  5. Some of Bitcoin’s 2013 Hiccups More like high-blood pressure driven stroke-causing events really, than a hiccup. As WSJ notes, ‘In 2013, the FBI shut down the [Bitcoin] platform Silk Road, which may have earned $80 million in commissions from allegedly facilitating more than $1 billion in drug trafficking. The biggest Bitcoin exchange—Mt. Gox in Japan—collapsed in February.’
  6. Bitcoin & RBI: A tale of unrequited love Bitcoin has yet to win over the nation’s fiscal regulator. While RBI has decided not to pass any regulations on Bitcoin, it has issued an advisory cautioning against the use of crypto-currencies, Bitcoin included.
  7. Bitcoin in India: 2014 Bi-annual Update As of now Bitcoin may be bullish across leading global economies but India is still very much on the fence. Nevertheless, India now has a Bitcoinexchange called BTCXIndia – also featuring a live trading platform and wallet service – which launched officially on 5th May in Hyderabad. BTCXIndia is aiming at providing secure and transparent service, in view of the RBIs apprehensions on behalf of investors. The company has a UK-based investor company at the moment that is also its advisor. Excahnges such as Unicoin that had suspended operations as a precaution last year following RBIs stringent cautions, have since resumed operations.
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