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Bitcoin Valuation Skyrockets to $5000
12 October 2017, 08:40 | Cesar Cruz
Bitcoin smashed through the US$5000 (NZ$7000) barrier for the first time, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market. Meanwhile, Citi's CFO said his bank is taking an "intense" look at cryptocurrencies and blockchain. The crackdown was amid fears that a rapid increase in consumers could lead to wider financial solutions.
Jordan Hiscott, the chief trader at Ayondo Markets, said: "The returns are truly remarkable, especially given the recent ban on bitcoin trading in China, where demand had previously accounted for at least 10% of all global volumes". The decline was fueled by a comment from JPMorgan & Chase CEO Jamie Dimon who called bitcoin a fraud good for drug dealers and murderers.
Banks have raised concerns about the currency and associations with online crime and money laundering.
Professor of economics and public policy at Harvard University, Kenneth Rogoff, expects the price of Bitcoin to collapse.
CMA outlines scope of Sky, Fox investigation
On pay, Sky also suffered a bloody nose as 63.7% of independent investors voted against the company's remuneration report. Sky shares - 7% down in the year to date - were 0.5% up in early trading following the release of the results statement .
"Yet bitcoin was created to operate outside of the influence of governments and central banks and is doing exactly that".
One of the key benefits of using this cryptocurrency is that it essentially allows users bypass government and banking regulations and nearly remain anonymous. "But it is an entirely different matter for governments to allow large-scale anonymous payments, which would make it extremely hard to collect taxes or counter criminal activity".
Two weeks ago, Japan's government implemented rules that recognize bitcoin as a payment method.
Apple to partner with LG for foldable iPhone
It could also be because Apple is cautious about what they share with Samsung , according to Korean news site The Investor . So that means Samsung is charging as high as it wants to produce those screens, and Apple has no choice but to pay up.
JP: Cooler temperatures are coming
Friday afternoon a cold front slows and comes to a halt to our northwest, that will allow for more clouds by Friday night. Good Thursday morning, it's another cool morning outside across the ArkLaMiss with calm conditions and clear skies.
Andromeda heading to Origin Access
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Southwest Airlines to fly to Hawaii in 2018
The initial service will be from California, said Chief Revenue Officer Andrew Watterson, without elaborating on specific routes. Allegiant Air will exit Hawaii later this year, while Alaska Airlines will take over Virgin America's flights in April 2018.