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Taiwan chip 'godfather' bullish on cryptocurrency

Taipei - Muslimchronicle

The revered head of Taiwan's semiconductor giant said cryptocurrencies would be a key driver for growth despite a bitcoin slump due to the threat of stricter regulations. Morris Chang's Taiwan Semiconductor Manufacturing Co (TSMC) produces chips that power Apple's iPhones and, more recently, that enable new businesses like artificial intelligence and digital currency mining. TSMC -- which is the world's biggest microchipRead more

Bitcoin bombs, cryptocoins crash

Paris - Muslimchronicle

Bitcoin, the best known of hundreds of 'virtual' coins, slumped on Tuesday, January 16, to a 6-week low below $12,000 as analysts blamed a rush by various jurisdictions to regulate the sector. The final weeks of last year were marked by bitcoin mania as the unit topped $20,000, but it lost some 20% in Tuesday trading which saw most ofRead more

Cryptocurrency rivals snap at Bitcoin's heels

London - Muslimchronicle

Bitcoin is on the rise against the U.S. dollar, but a look at all of its relevant trading pairs (LTC/BTC, ETH/BTC) suggests the move to $20,000 could take longer than expected. The world's largest cryptocurrency by market capitalization has traded more or less sideways over the last few days as the alternative currencies rallied sharply to new highs. But, as discussedRead more

Japan's 'Virtual Currency Girls' debut

Tokyo - Muslimchronicle

Japan's latest "idol" band, the Virtual Currency Girls, took to the stage for their debut concert Friday to educate the public about cryptocurrencies -- playing to frenzied fans waving their arms and chanting together. "Our brains are fried as we are studying every day" about virtual currencies, said the group's leader Rara Naruse, 18, as they began their live concert inRead more

S. Korea govt sends bitcoin

Seoul - Muslimchronicle

Bitcoin and other virtual currencies were sent on rollercoaster rides in South Korea Thursday as the government said it was planning to ban cryptocurrency exchanges, before later backtracking. Justice Minister Park Sang-Ki said Seoul was preparing a bill to shut down the country's virtual coin exchanges, sending bitcoin and other virtual unit prices into a tailspin. "The ministry is preparing legislation that basicallyRead more

Egypt's mufti says bitcoin forbidden

Cairo - Muslimchronicle

Egypt's grand mufti has said that bitcoin is forbidden in Islam, warning the digital currency could be used for criminal purposes. Bitcoin, launched in 2009 and based on a peer-to-peer payment system, poses "high risks to individuals and states," Shawqi Allam said in a published ruling. It could provide "stable and secure financial resources for terrorists and criminal groups," said Allam,Read more

India likens crypto cash to Ponzi schemes

New Delhi - Muslimchronicle

India warned Friday against investing in cryptocurrencies including bitcoin, likening them to "Ponzi schemes", as it became the latest country to urge caution. Despite a boom in trade that has seen prices soar, cryptocurrencies "don't have intrinsic value and are not backed by any kind of assets," the Indian finance ministry said in a statement. "There is a real and heightenedRead more

Bitcoin falls on S.Korea curbs

Seoul - Muslimchronicle

Bitcoin fell more than 11 percent after South Korea said on Thursday it would ban anonymous trading of virtual currencies and crack down on money laundering activities using them. The announcement came as the hyper-wired South emerged as a hotbed for cryptocurrency trading, accounting for some 20 percent of global bitcoin transactions -- about 10 times the country's share of theRead more

'Virtual gold' may glitter, but mining

Washington - Muslimchronicle

As the poster child for the growing ranks of computer-generated currencies, bitcoin's recent stratospheric price rises have propelled it from the chat forum-hosted depths of nerddom into the global consciousness. As it rose from under $1,000 to over $19,500 at one point this year, hordes of tech-savvy punters have rushed in to buy, while any investors can now do theRead more

NY iced tea maker sees shares triple

Washington - Muslimchronicle

Shares in a New York beverage company nearly tripled by midafternoon Thursday after it announced it was shifting into cryptocurrency-related investments. Long Island Iced Tea Corp of Farmingdale, New York -- which says it currently produces the soft drink with a proprietary recipe -- announced Thursday it was changing its name to "Long Blockchain Corp" and would explore investments inRead more