Tagged under: ban, bitcoin, Bitcoin Trading, Russia, why is bitcoins so cheap?
On Tuesday morning , the virtual currency traded at Mt.Gox , main house exchange , 433 euros and BTC -E to 520 euros. The oscillation of the virtual currency has been a constant throughout history , because in six months has ranged from a low of $ 85 ( 62 euros ) and a maximum of $ 1,163 (850 euros) , however in the last month remained stable at around $ 900.
On Friday, the normally broke Mt.Gox to be detected in an "unusual " activity , so that its leaders decided to halt the exchange until Monday and so clarify the origin of these movements . But on Monday announced postponement undated . Then the currency slumped to a low of $ 500, down 27% from Friday's final price which was $ 692.
" This technical problem is much greater than we have seen in the past intensity ," said Sebastien Galy Reuters analyst at Societe Generale in New York. "The market may realize that there are issues that are specific to these forms of exchange ."
The bitcoin in recent months continued to gain acceptance in the usual physical transactions , the acceptance of several casinos in Las Vegas and fertilizers inputs Sacramento Kings basketball team .
Mt.Gox explained that an "error in the bitcoin software " could allow alteration of the transaction. Anyone on the network can alter details of the exchange to make it appear that a transfer of a digital wallet bitcoins to another has not occurred when in fact they had done , which leads to repeat.
CoinDesk , which launched Bitcoin Price Index in September, has retired to the house Mt.Gox index for its " persistent failure to meet the standards of the index."
The index CoinDesk bitcoin prices were lower, but not as much as in Mt.Gox . Currency to $ 667.79 on Monday afternoon was paid a 5 % down from Friday's close . In any well below a thousand dollars that was trading case in January .
The arrest of a prominent defender of bitcoin few weeks ago has added uncertainty to the currency . Charlie Shrem , operator Bitinstant exchange company , was accused by U.S. prosecutors of money laundering on site Silk Road. The next day, Shrem resigned as vice president of the Bitcoin Foundation, an advocacy group promoting this and virtual currency.
Tagged under: ban, bitcoin, Bitcoin news, Illegal, Russia, why is bitcoins so cheap?
He joins the list of countries reporting to the virtual currency could be used for money laundering or terrorist financing
Russia bans bitcoin
The Russian authorities have issued a series of warnings against use of securing Bitcoin virtual currency that could be used for money laundering or terrorist financing and that " treat it as a currency is illegal ."
Anonymous payment systems and currency through Internet have grown exponentially and have glimpsed as money substitutes and can not be used by individuals or legal entities , said the office of the Prosecutor General of Russia after meeting with representatives of the Russian Central Bank , FSB ( anteriomente known as KGB) and the Ministry of Interior.
The agency has acknowledged that Russian law stipulates that the ruble is the only legal tender and that the introduction of any other currency or substitutes will be considered illegal . The Russian central bank has also added that trade was very speculative Bitcoin on 27 January and the unit provides a high risk of losing value.
"Citizens and legal persons are at risk of contributing to illegal activity including the laundering of money obtained through crime and terrorist financing ," he warned. The General Attorney's Office said it was working with the Central Bank and other bodies responsible for law enforcement to strengthen regulations and prevent crimes " by using these pseudomonedas '.
It is not the first country to be illegal use to bitcoin . Thailand banned argued the lack of applicable laws last July. China also warned to use.
Tagged under: bitcoin, Bitcoin news, Russia, why is bitcoins so cheap?
Russia bans the Bitcoin : " The ruble is the only official currency " Bitcoin Bitcoin virtual currency created in 2008. The Bitcoin could be used to launder money or finance terrorism. The Government pointed out that introducing any other currency or money substitutes is illegal. The Russian Central Bank is working to tighten regulation and prevent crimes committed with the use of ' pseudo - coin ' .
The Russian authorities have warned against the use of saying that Bitcoin virtual currency could be used to launder money or finance terrorism and illegal. " The ruble is the only official currency ," said the Attorney General . " Anonymous payment systems and cyber currencies have gained considerable circulation are money substitutes and can not be used by individuals or legal entities ," insisted the prosecutor. The ruble is the only oficialAsimismo currency, the Government pointed out that the ruble is the only official currency so enter any other currency or money substitutes is illegal. The Russian Central Bank in January and had an impact on transactions with bitcoins are " highly speculative " and involving "a great risk of losing value." The agency is working with other government institutions to tighten regulation and prevent crimes committed with the use of ' pseudo - coin ' . Also, the use of Bitcoin in the United States, where it is much more widespread in Russia, is going intense scrutiny by the authorities after discovering illegal activity thanks to digital currency.
We all know that all this is bullshit LOL
