Headlines 

Bitcoin Is Now Bigger Than Buffett, Boeing and New Zealand

Bitcoin’s extraordinary price surge means its market capitalization now exceeds the annual output of whole economies, and the estimated worth of some of the world’s top billionaires. With the debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above $11,000 and bringing its climb this year to more than 1,000 percent. With market tracker avocados. Here are five things that have been eclipsed by bitcoin in terms of market capitalization: New Zealand’s GDP The South Pacific nation’s farm-and-tourism-led economy is valued at $185…

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Odds and Ends 

Coinbase ordered to give the IRS data on users trading more than $20,000

Most digital currencies exist in a sort of twilight state just beyond the grasp of federal regulators, but the U.S. tax authority is starting to get savvy to this whole bitcoin thing. On Wednesday, a federal judge in San Francisco ruled that Coinbase must supply the IRS with identifying information on users who had more than $20,000 in annual transactions on its platform between 2013 and 2015. After noticing that the number of tax returns claiming gains from virtual currency didn’t line up with the emerging popularity of digital currencies like…

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Headlines 

Bitcoins Wild Ride: A Rally, a Rout and Outages on the Exchanges

Bitcoin plunged as much as 20 percent hours after a rally past $11,000 generated a surge in traffic at online exchanges that led to intermittent outages. The plunge capped a wild day for the largest cryptocurrency that included a breakneck advance to a high of $11,434 before the reversal took it as low as $9,009. As of 3:36 p.m. in New York, it traded at $9,911.10, virtually unchanged from where it began the session. The heaviest selling came amid earlier led to selloffs in cryptocurrencies. Coinbase, one of the biggest…

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Headlines 

Heres What the World’s Central Banks Really Think About Bitcoin

Eight years since the birth of bitcoin, central banks around the world are increasingly recognizing the potential upsides and downsides of digital currencies. The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about emergence and growth of the private cryptocurrencies that are grabbing more and more attention — with bitcoin now surging toward $10,000. The second question is whether to issue official versions. Following is an overview of how the world’s largest central banks (and some smaller ones) are approaching…

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Bitcoin Futures Could Open the Floodgates for Institutional Investors

Bitcoin is spiking to a record after CME Group Inc. said it’s planning to launch bitcoin futures as the move could open the floodgates of investors who have been standing on the sidelines as bitcoin soared over 500 percent this year. The cryptocurrency jumped as much as 5.2 percent to $6,416.39 after the CME said it will start offering trading the derivatives in the fourth quarter. Futures will be settled in cash based on a bitcoin index that CME started calculating in November.  The move comes after the Chicago Board Options…

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Headlines 

North Korean Hack of U.S. War Plans Shows Off Cyber Skills

The techno soldiers of Kim Jong Un are growing more aggressive in defending North Korea’s supreme leader against threats from The Interview.” If Kim’s cyber warriors have indeed stolen the top-secret intelligence, it raises alarms about the security of U.S.-South Korea information and the effectiveness of potential military options. “The plan is fundamental to conducting a war operation and leakage of even a small part of it is very critical,” Rhee Cheol-hee, the ruling party lawmaker, said in a telephone interview. “How could we fight against an enemy and win a…

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Headlines 

Bitcoin More Than Just a Fad, Morgan Stanley CEO Says

Not every Wall Street bank chief is bearish on bitcoin. Morgan Stanley Chief Executive Officer James Gorman takes a more measured view on the cryptocurrency than crosstown rival Jamie Dimon, the JPMorgan Chase & Co. head who earlier this month called it

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Odds and Ends 

Cryptocurrencies have crashed 20% in two days

Of course it’s important to put things into context – this “crash” still leaves Bitcoin at double the price it was just four months ago. But it shows why “investing” in cryptocurrencies isn’t for the faint of heart. Could you imagine waiting on the sidelines for months as the market basically doubled, then putting a sizable chunk of money into cryptocurrency 48 hours ago, only to watch your investment plummet? Not fun. This 20% drop represents years of gains in the U.S stock market – which if invested into cryptocurrency this…

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Odds and Ends 

Bitcoin just passed $4,000

What a day for Bitcoin. 24 hours ago the cryptocurrency was trading below $3,700. About an hour ago it surged passed $4,000 and has no signs of stopping. Its now trading around $4,135.00. For reference, a week ago Bitcoin hit an all-time high as it passed $3,000 for the first time. Check out the chart below to see what the price has done in the last 24 hours. Read more: https://techcrunch.com/2017/08/12/bitcoin-just-passed-4000/

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Odds and Ends 

Bitcoin breaks $3,000 to reach new all-time high

Bitcoin has reached a record high valuation of $3,000 per coin to complete a rollercoaster week that begin with the long-awaited split of the cryptocurrency. A number of exchanges, including popular destinationsCoinbase and Kraken, valued a single bitcoin at over $3,000, an all-time high that is up $485 on the valuation one month ago. Earlier this year, Bitcoin surged to surpass $2,000 for the first time in May going on to almost reach $3,000 in June only for the valuation to crash. Over the last twelve hours, bitcoins value has…

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Odds and Ends 

Crunch Report | Coinbase Reverses Stance on Bitcoin Cash

Coinbase says it will support Bitcoin Cash after all but it isnt committed to trading yet Toyota takes stake in Mazda, invests more in self-driving and AI Credits Written by: Tito Hamze, John MannesHosted by: Tito HamzeFilmed by:Mitch EasonEdited by: Joe Zolnoski Notes: I dont know what to wear on Crunch Report (Its a hard decision and I suck at dressing myself). If you are a startup andwant to me to wear something mail me an XL T-shirt and Ill wear it in an episode. Im not going to mention…

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Odds and Ends 

Why Science is turning to ICOs for its incubator

There has been a wave of startups turning to initial coin offerings, known asICOs, to raise funding through digital currency and now at least one fund is doing this, too. Science Inc., the LA-based team co-founded by Peter Pham and Mike Jones, which has incubated startups like Dollar Shave Club, DogVacay and Wishbone, is launching a fund for blockchain startups and plans to raise the money through an ICO of up to $100 million in size. It seemed to make sense to us to put our money where our mouth…

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Headlines 

UK dealer charged in US over multimillion-dollar fake Bitcoin site scam

Renwick Haddow created trendy companies and duped investors into thinking they were big successes, authorities in New York allege US authorities on Friday charged a British businessman with securities fraud, accusing him of deceiving investors over what turned out to be a fake trading platform for the cryptocurrency Bitcoin. The Securities and Exchange Commission (SEC) alleged the clandestine Renwick Haddow, a UK citizen living in New York, diverted funds invested in a phoney Bitcoin site as well as from a flexible workspace firm Bar Works into accounts in Mauritius and…

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The company called Blockchain raises $40 million

Blockchain (the company) just raised a $40 million Series B funding round led by Lakestar. Blockchain has been working on the most popular bitcoin wallet in the world. You can open a wallet on the companys website or through its mobile apps. GV, Nokota Management, Digital Currency Group and existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin and Sir Richard Branson also participated in todays funding round. This is quite a significant funding round for a cryptocurrency startup. Blockchain is surfing on the hype surrounding bitcoins, ethers,…

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Odds and Ends 

Bitcoin just surged past $2,000 for the first time

The worlds most popular cryptocurrency is now worth over $2,000 per coin. Thats according to a range of bitcoin exchanges, including Coinbase and Kraken. That valuation puts the total market cap of bitcoin the total number of coins in circulation at $32.92 billion. Bitcoin has been on a tear this year, as this Bitcoinfirst broke the $1,000 valuation mark saw bitcoin return tothe $1,000 mark again at the end of last year. Since then, itsvaluation has continued to grow consistently through 2017. Why have these other cryptocurrencies been performing so…

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