Google gives real time currency status, conversions to Bitcoin

Rodiano Bonacci
Dicembre 11, 2017

The easiest way to get bitcoin is by using an online exchange and buying just like one would at an e-commerce site. Last week, for instance, Venezuelan President Nicolás Maduro announced the country would develop its own cryptocurrency, dubbed "the Petro", to defeat Trump administration sanctions.

The cryptocurrency madness has helped propel the value of Bitcoin through the roof.

Back home, the Reserve Bank of India (RBI) reiterated its warnings on the bitcoins.

"As for bitcoin's top future value, "$150,000 is my estimate and that is conservative, as some others have forecast up to $1 million", suggested Moas.

Created by unknown people under a common name Satoshi Nakamoto, now around 5.8 million users, use cryptocurrency majority using Bitcoin according to a research produced by Cambridge University. But "it's been a big victor for us".

The Aston Plaza & Residences at Dubai Science Park was one of the first major developments to offer flats for sale valued in Bitcoin, hitting the headlines in September this year.

Earlier this year, the decentralised digital currency plunged by 18% after a consistent rise, as news began to leak that it had attracted the attention of regulators in China.

If you want to buy bitcoin, you do not need to buy a whole one.

Off late the cryptocurrency has surged dramatically leading to increase in acceptance among traditional investors who are sceptical of it before.

But he says: "Don't write it off just yet, once the first large scale deal is complete the floodgates will open". Some have even gone out of business or been victimized by hackers, who steal their bitcoins, he said.

There's been an ambivalence in the United States. The RBI through an advisory issued earlier this week informed people of the potential economic, financial, operational, legal, customer protection, and security related risks associated in dealing with such VCs.

William Dudley, president of the Federal Reserve Bank of NY, recently said he remained cautious about the digital currency, saying it was not a "stable store of value and it doesn't really have the characteristics that you'd like to have in a currency".

In Japan, following the failure of a bitcoin exchange called Mt. Gox, new laws were enacted to regulate bitcoin and other virtual currencies.

An eary test could come this week. Futures for bitcoin will start trading on the Chicago Board Options Exchange on Sunday evening and on crosstown rival CME Group's platforms later in the month.

Cboe has already received significant interest about its new bitcoin product, said John Deters, its chief strategy officer.

For now, experts urge investors to be wary.

Now, what makes Bitcoin different from other mediums of exchange is that it uses cryptography.

"As the price skyrockets, it is hard to justify selling your bitcoin to buy a piece of furniture when tomorrow you could afford to buy two pieces of furniture", said Jai Massari, a partner at Davis Polk & Wardwell, who advises clients on financial regulation.

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