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| January 23, 2018

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CNN

Mexico reports highest murder rate on record

January 23, 2018 |

Soaring levels of drug-related violence made 2017 Mexico’s most murderous year on record, according to government statistics released Sunday.
CNN.com – RSS Channel – Regions – Americas

American Express Reports First Loss in Quarter-Century

January 19, 2018 |

American Express recorded its first quarterly loss in a quarter-century and said it would suspend its share-buyback program as it absorbed a hit from tax changes in the U.S.
WSJ.com: US Business

Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin Listings

January 17, 2018 |

Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin Listings

Online classifieds and community website, Gumtree South Africa, has reported a significant increase in the number of listings posted specifically asking to trade items for bitcoin. In particular, the website reports a proliferation in the number of listings for luxury vehicles that are asking for bitcoin as payment.

Also Read: Markets Update: The Top 68 Cryptos Dive During the January Slump

Gumtree South Africa Reports Significant Increase in Luxury Items Listed in Exchange for Bitcoins

Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin ListingsThe head of marketing for Gumtree South Africa, Claire Cobbledick, has attested to the proliferation of listings requesting payment in the form of bitcoin on the peer-to-peer online marketplace. Mrs. Cobbledick told local media that “There’s been an increase in swaps and Bitcoin-only sales on Gumtree.co.za.”

Mrs. Cobbledick stated that the majority of the listings are for highly valuable “high-value items like cars, bikes, and boats.” She attributes the trend to that the allure of the astonishing gains witnessed by bitcoin in recent months, stating that “Many sellers are willing to take a gamble with their assets in hopes of a large payout.” Mrs. Cobbledick adds that “Bitcoin is a volatile currency, so while you could easily see a 50% increase in your investment, you could just as easily end up with nothing.”

At present, local media reports that a number of high-end vehicles are listed on the South African gumtree website in exchange for bitcoin, including “a Land Rover Defender, BMW X5, and a 1970 Mercury Cougar V8.” Mrs. Cobbledick states that “There are also sellers accepting Bitcoin in exchange for Krugerrands” – coins made out of a copper gold-alloy that were introduced in South Africa in 1967 as a vehicle for the private ownership of gold.

Bitcoin-Only Listings for Luxury Car Sales Increases Globally

Gumtree South Africa Reports Increase in High-Ticket Listings Requesting BitcoinThe number of high ticket items being listed in exchange for bitcoin has dramatically increased in recent years. Currently, Spendbitcoins.com lists 28 car dealerships worldwide that accept payments in bitcoin – including those specializing in luxury brands such as Land Rover and Lamborghini.

Outside of vehicles, 2017 witnessed a significant proliferation in the number of real estate listings requesting bitcoin as a means of payments – however, many of said listings appear to have motivated by marketing considerations following the increased media coverage surrounding all things bitcoin last year, as very few of the property listing requesting bitcoin appearing to have been finalized using cryptocurrencies.

Have your sold any goods for cryptocurrencies? Share your thoughts in the comments section below!


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The post Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin Listings appeared first on Bitcoin News.

Bitcoin News

San Jose mom, 40, dies days after coming down with flu, reports say

January 16, 2018 |

A 40-year-old mother in San Jose died two days after catching the flu, The San Francisco Chronicle reported, citing local media.
FOX News

New Reports of Racist, Insensitive Behavior by Trump

January 13, 2018 |

With President Trump facing fresh allegations of racism after reportedly calling nonwhite countries “shitholes” during a meeting this week, NBC News is sharing anecdotes from lawmakers and government officials that highlight Trump’s history of what could be considered culturally insensitive or outright racist behavior. In one story shared by two…
Newser

Wells Fargo reports big tax savings — and big costs for investigations, lawsuits

January 12, 2018 |

The GOP tax overhaul saved Wells Fargo & Co. more than $ 3 billion in the fourth quarter, but the bank also set aside more than $ 3 billion to cover costs related to ongoing problems with its consumer businesses, the company reported Friday.

In its earnings release for the fourth quarter and full…


L.A. Times – Business

Chinese Authorities Ask Local Miners to Submit Monthly Status Reports

January 7, 2018 |

Chinese Authorities Ask Local Miners to Submit Monthly Status Reports

Xinjiang Province regulators have issued an official document informing local bitcoin miners to submit status reports on a specific schedule.

Also Read: Japanese ‘Virtual Currency Girls’ Spreading Cryptocurrency Knowledge

    An Orderly Exit

Chinese Authorities Ask Local Miners to Submit a Monthly Status Report

Bitcoin mining companies were told to write a status report before Jan. 5, according to a government notice signed by a Xinjiang committee in charge of overseeing internet finance risks (The Committee) that was circulated online and verified by people familiar with the matter. The document reads that:

Xinjiang is home to multiple bitcoin miners, which are both energy-intensive and highly speculative. To curb financial risks and encourage real economy, approaches must be taken to guide miners toward an “orderly” exit from the business.

The document detailed that the Xinjiang Commission of Economy and Information Technology shall update the operation and exit status of mining companies before the 5th of every month and submit relative materials to The Committee.

Which Approaches Be Taken?

Chinese Authorities Ask Local Miners to Submit a Monthly Status Report

Many of the world’s largest miners have set up in remote and mountainous Sichuan and Yunnan provinces for cheap electricity. But Chinese authorities proposed restrictions on power consumption to curb the industry.

Based on another document signed by the Financial Market of the PBOC, the authorities plan to limit the industry’s power use. It says that:

Local governments shall coordinate with multiple departments to take actions concerning electricity price, land use, tax and environmental protection in an effort to guide miners orderly exit .

Chinese Authorities Ask Local Miners to Submit Monthly Status Reports
a small bitcoin miner emptied

Compared with China’s ICO ban in September, these proposed restrictions on mining failed to cause panic among the Chinese community. A Sichuan miner told news.bitcoin.com that he is confident that Chinese mining companies will remain in the leading position in the mining industry. “It’s too late for regulators to take moves. I feel that people are immune to regulations now.”

What do you think of the restrictions? Do you think the cryptocurrency industry will be reshaped? Leave your comments below.


Images via Shutterstock, Wechat channel and Sina Finance.


Need to calculate your bitcoin holdings? Check our tools section.

The post Chinese Authorities Ask Local Miners to Submit Monthly Status Reports appeared first on Bitcoin News.

Bitcoin News

American family of 5 among 12 killed in Costa Rica plane crash, reports say

January 1, 2018 |

A small plane carrying ten foreign passengers and two local crew members crashed and burst into flames in a wooded area in Costa Rica, killing everyone on board, the government reported Sunday.
FOX News

Reports: Chinese Ships Seen Giving Oil to N. Korean Ships

December 28, 2017 |

China may be officially adhering to tough new sanctions against North Korea, but it appears that some Chinese ship captains aren’t so willing. The Chosun Ilbo , a prominent South Korean newspaper, reports that US reconnaissance satellites have captured images of Chinese vessels transferring oil to North Korean vessels at sea….
Newser

Russian Reports say Crypto Entrepreneur Pavel Lerner Kidnapped in Kiev

December 27, 2017 |

Russian Crypto Entrepreneur Pavel Lerner Kidnapped in Kiev

Russian programmer and cryptocurrency investor Pavel Lerner has been kidnapped in Kiev, according to Ukrainian and Russian media reports. He is the managing director of Exmo, a major UK-based exchange popular with Russians for accepting ruble payments. Lerner is also well known in Ukraine where he has startups dealing with mining operations and blockchain technology development.

Also read: Russian Crypto News Outlet Shook Down by the Ukrainian Security Service

Russian Crypto Entrepreneur Pavel Lerner Kidnapped in Kiev
Pavel Lerner

Russian Crypto Entrepreneur Kidnapped

The Russian-born IT specialist stopped answering phone calls around noon on December 26, and was reported missing by friends and colleagues later the same day, according to Strana.ua. Quoting a police source, the website revealed that Lerner had been dragged into a van by unidentified attackers wearing masks. He was supposedly abducted close to his office on the “Stepan Bandera” boulevard in the Ukrainian capital.

Investigators in Kiev are considering all possible leads in a case that they have described as kidnapping. Security officials have published the registration number of the vehicle used in the attack and are currently conducting search operations.

Exmo’s PR department confirmed media reports in a statement and appealed for any information that could lead to finding Lerner, BitNovosti reported. The company also insisted its operations were not affected and assured its customers that he did not have direct access to cryptocurrency accounts or other personal data.

Russian Crypto Entrepreneur Pavel Lerner Kidnapped in Kiev
Alexander Vinnik (center).

Is This a New Vinnik Case?

Russian media have covered Lerner’s disappearing drawing parallels with another case involving a Russian national with cryptocurrency background. The 38-year-old Alexander Vinnik was detained in Thessaloniki this summer while on a vacation in Northern Greece. US authorities have accused Vinnik of crimes related to the Mt. Gox hack and requested his extradition.

American prosecutors claim the Russian has facilitated the laundering of over $ 4 billion worth of bitcoin stolen in the hack. Vinnik, who is believed to be the mastermind behind the BTC-e exchange used for that purpose, has denied the accusations. This month the Supreme Court in Athens rejected his appeal against the extradition procedure, despite objections from Moscow. Russian authorities also want him back home where he has been charged with stealing some $ 10,000 in Russian currency.

Unlike the operators of the shadowy BTC-e, Pavel Lerner, who has also resided in Poland and Spain, has never attempted to hide his association with Exmo. The exchange he is managing is well-known in cryptocurrency circles in both Russia and Ukraine for processing ruble transactions.

Russian Crypto Entrepreneur Pavel Lerner Kidnapped in Kiev

Last year Exmo’s original dot com domain was blocked by the Russian federal telecom supervisory body Roskomnadzor but its new internet address exmo.me has been registered under Lerner’s name in Krasnoyarsk. Exmo is fighting the regulator’s decision in court, thus becoming one of the very few crypto businesses to actively oppose the state-sanctioned clampdown.

According to BitsMedia, the presumed kidnapping of Pavel Lerner may turn out to be a detention; a “second Vinnik case”, with charges leveled against the 40-year-old Russian entrepreneur. On the other hand, his abduction may simply be related to his many business interests in several countries. And while the true motives of the perpetrators remain unknown, “crypto ransom” also sounds like a plausible explanation.

Why do you think Pavel Lerner was kidnapped? Let us know in the comments section below.


Images courtesy of Pixabay, Facebook.


Need to calculate your bitcoin holdings? Check our tools section.

The post Russian Reports say Crypto Entrepreneur Pavel Lerner Kidnapped in Kiev appeared first on Bitcoin News.

Bitcoin News