Bitcoin surged past $17,000 Thursday and make a new record

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Bitcoin

Bitcoin is the world’s most popular digital currency which surged past $17,000 Thursday.

Bitcoin is the world’s most popular digital currency which surged past $17,000 Thursday. These coins are not tied to a bank or government and allow users to spend money anonymously on Bitcoin . They are basically lines of computer code which are digitally signed each time they are traded.

This cryptocurrency currency surged past $17,000 Thursday as the frenzy surrounding the cryptocurrency escalated just days before it starts trading on major US excha

Bitcoin are not legitimised in India said Arun Jaitly
Bitcoin

nges. This cryptocurrency has gained more than $5,000 in just the past two days.

Research company Coindesk said that a wallet address referred to by NiceHash users indicates that about 4,700 bitcoins had been stolen. NiceHash said it will stop operating for 24 hours while it verifies how many bitcoins were taken. Wallet is a nickname for an online account.

NiceHash

At the same time, there are fresh concerns about the security of bitcoin and other virtual currencies after NiceHash, a company that mines bitcoins on behalf of customers, said it is investigating a breach that may have resulted in the theft of about $70 million worth of bitcoin.

As of 11.15am EST, This cryptocurrency was valued at $17,482, according to Coinbase, the largest bitcoin exchange. At the start of the year, one bitcoin was worth less than $1,000.

That has increased the sense among some investors that This cryptocurrency

is gaining in mainstream legitimacy after several countries, like China, tried to stifle the virtual currency.

The surge in the bitcoin price and the hack of NiceHash occurred just as the trading community prepares for bitcoin to start trading on two established US exchanges. Futures for bitcoin will start trading on the Chicago Board Options Exchange on Sunday evening and on crosstown rival CME Group’s platforms later in the month.

A debate is raging on the merits of such currencies. Some say they serve merely to facilitate money laundering and illicit, anonymous payments. Others say they can be helpful methods of payment, such as in crisis situations where national currencies have collapsed.

Miners of bitcoins and other digital currencies help keep the systems honest by having their computers keep a global running tally of transactions. That prevents cheaters from spending the same digital coin twice.

NiceHash did not respond to an emailed request for more details about the breach.

Online security is a vital concern for such dealings.

In Japan, following the failure of a bitcoin exchange called Mt. Gox, new laws were enacted to regulate this cryptocurrency and other virtual currencies. Mt. Gox shut down in February 2014, saying it lost about 850,000 bitcoins, possibly to hackers.

“The incident has been reported to the relevant authorities and law enforcement and we are cooperating with them as a matter of urgency,” it said in a statement, where it also urged users to change their online passwords.

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