n Korea could follow China in outlawing cryptocurrency exchange for fiat, and possibly go further, reports suggest.n
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Is Amazon preparing for its own cryptocurrency Company registers 3 new crypto-related domain names
Amazon has registered three different domain names, all of them related to blockchain and cryptocurrency.
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Is Amazon Preparing to Integrate Bitcoin and Cryptocurrencies?
On November 1, various sources revealed Amazon Technologies, Inc., a subsidiary of Amazon.com, Inc., acquired three cryptocurrency-related domains including “amazonethereum.com,” “amazoncryptocurrency.com” and “amazoncryptocurrencies.com.”
Coindesk: Amazon subsidiary registered three cryptocurrency domains. Is Amazon preparing to integrate #bitcoin and other cryptocurrencies? 🚀 pic.twitter.com/znT5aCPgic
— Joseph Young (@iamjosephyoung) November 1, 2017
Amazon’s Interest in Bitcoin and Cryptocurrencies
For many years, Amazon Technologies has acquired and applied patents on behalf of Amazon.com, and has been in charge of leading technological developments and innovation for its parent company.
The recent acquisition of three cryptocurrency-related domains sparked rumors in regards to the possibility of Amazon integrating cryptocurrencies such as bitcoin in the near future, given that most major retailers like Overstock, TigerDirect, and Japan’s Bic Camera have already integrated bitcoin.
However, even if Amazon had planned to integrate bitcoin in the past few months, the integration process could take years of research, development, and testing, given the difference in the magnitude of the Amazon e-commerce platform in contrast to its rivals.
Stan Higgins, a bitcoin journalist, noted that Amazon may have had purchased the three domains to safeguard its brand from potential cryptocurrency and Amazon-related ventures, projects, and online platforms.
“As posited by DomainNameWire, Amazon may be simply moving to safeguard its brand. Back in 2013, Amazon secured “amazonbitcoin.com,” which currently redirects to Amazon’s main page – an arrangement that further suggests the protective intent of the registration,” Higgins wrote.
Realistically, Can Amazon Integrate Bitcoin?
Amazon is the largest e-commerce marketplace globally, and within a span of few years, it has quadrupled its market cap to 2 billion. It processes an unprecedented amount of orders and hence, the integration of payment technology or digital currency would require a prudent testing process and cautious implementation.
At this point, the demand for bitcoin is evidently increasing at an exponential rate, as the price of bitcoin recently surpassed the ,000 mark for the first time in history. But, the scalability issues of bitcoin cannot be dismissed, since the size of the bitcoin mempool has increased back up to 50 million and the block size has remained above 1.04 MB in the past few days.
Currently, some of the most widely utilized bitcoin wallet platforms such as Blockchain and Coinbase are recommending transaction fees above . With SegWit-enabled wallets, the fees would likely be below .7, since as hardware wallet manufacturer Ledger stated, SegWit provides at least 35 percent reduction in transaction fees.
But, Amazon cannot expect general consumers or beginner bitcoin users to use SegWit-enabled wallet and enjoy lower fees, and in the short-term, the company may receive complaints in regards to high fees.
The post Is Amazon Preparing to Integrate Bitcoin and Cryptocurrencies? appeared first on NEWSBTC.
Iran Is Preparing for Digital Currency Adoption
While there are countries strongly against the use of digital currencies, others are preparing their infrastructures for a smooth adoption. An example of the latter approach is Iran, which, according to its Deputy Minister of Information and Communication Technology, is preparing for mass adoption of cryptocurrencies. In a recent press statement, Amir Hossein Davaee noted: The ministry of communications and information technology has already conducted a number of research studies as part of efforts to prepare the infrastructure to use Bitcoin inside the country. . . . Arrangement are being made with the related organizations to put together the infrastructure as early as possible. He
BitNewz.net
Iran Preparing Cryptocurrency Infrastructure
According to the Iranian Deputy Minister of Information and Communication Technology, Amir Hossein Davaee, Iran have been conducting studies into how to prepare an infrastructure to use Bitcoin within the country. This could lead to greater adoption in the Middle-Eastern nation. To successfully integrate crypto, the deputy minister said that both infrastructural and economic issues … Continue reading Iran Preparing Cryptocurrency Infrastructure
The post Iran Preparing Cryptocurrency Infrastructure appeared first on NEWSBTC.
Iran Preparing Cryptocurrency Infrastructure
According to the Iranian Deputy Minister of Information and Communication Technology, Amir Hossein Davaee, Iran have been conducting studies into how to prepare an infrastructure to use Bitcoin within the country. This could lead to greater adoption in the Middle-Eastern nation. To successfully integrate crypto, the deputy minister said that both infrastructural and economic issues … Continue reading Iran Preparing Cryptocurrency Infrastructure
The post Iran Preparing Cryptocurrency Infrastructure appeared first on NEWSBTC.
Ripple Price Technical Analysis – XRP/USD Preparing for a Break
Key Highlights Ripple price is still above the all-important .1960-50 support area against the US Dollar. There is a bearish trend line forming with resistance at .2030 on the hourly chart of the XRP/USD pair (data source from Kraken). The price seems to be preparing for the next break either above .2050 or below .1960. … Continue reading Ripple Price Technical Analysis – XRP/USD Preparing for a Break
The post Ripple Price Technical Analysis – XRP/USD Preparing for a Break appeared first on NEWSBTC.
Ripple Price Technical Analysis – XRP/USD Preparing for a Break
Key Highlights Ripple price is still above the all-important .1960-50 support area against the US Dollar. There is a bearish trend line forming with resistance at .2030 on the hourly chart of the XRP/USD pair (data source from Kraken). The price seems to be preparing for the next break either above .2050 or below .1960. … Continue reading Ripple Price Technical Analysis – XRP/USD Preparing for a Break
The post Ripple Price Technical Analysis – XRP/USD Preparing for a Break appeared first on NEWSBTC.