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Tag Archives: bitcoin

Bitcoin’s role in Georgian economy

Georgian digital ecosystem is represented by miners, start-ups, infrastructure projects, programs supporting digital involvement, diverse digital products and services, growing incomes of Internet market, and increase of employment. There are 329 organizations engaging in the e-communication field in Georgia. Their incomes are more than 1.3 billion GEL.  Revenues in the …

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Bitfury Launches New Suite of Bitcoin Mining Hardware

New “Bitfury Clarke” ASIC Brings Heightened Bitcoin Mining Performance, Profitability. The Bitfury Group today launched a new generation of bitcoin mining hardware, led by its newest bitcoin mining ASIC chip, Bitfury Clarke. Building on Bitfury’s successful five generations of mining chips, the Bitfury Clarke ASIC offers the strongest performance characteristics …

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Apartment Sold With Bitcoin in Batumi

An apartment was sold for Bitcoin in Batumi. GeoLine company has assisted a Russian citizen to perform the transaction and find a required apartment. The company opened its office in Batumi a month ago. The company’s managing director in Georgia Diana Gudinenko told BM.Ge that the price of an apartment …

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Bitfury Sold Gldani Data Center

Bitfury IT service management company, sold its data center which is located in Gldani district, to Asian Chong Sing Holdings with whom negotiations lasted for several months. According to Bitfury CEO Valery Vavilov, selling the data center is aimed at expanding the company on the Asian market. “The transaction strengthens our relationship …

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Do Bitcoin Mining Costs Influence Electricity Prices?

On January 1, the electricity price rose to 23 Tetri for one kilowatt/hour from 14.54 Tetri. According to public opinion, the electricity tariff rose because of growing mining of electronic currency – BitCoin. It is worth noting that two virtual currency mining centers of out three ones in the world …

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Microsoft Suspends Bitcoin Payments

Microsoft has stopped taking Bitcoin payments. Bleeping Computer reported, Microsoft support called the move temporary, a response to high transaction fees and volatility in Bitcoin’s price. Microsoft-owned Expedia continues to accept Bitcoin payments as of this writing. Bleeping Computer noted that Microsoft has twice suspended payments in the past, after first accepting the …

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Georgia Among Three Countries With the Largest Number of Bitcoin Miners

Georgia has been listed among three countries with the largest number of Bitcoin miners in the world. Bitcoin mining is a process that both adds transactions to the cryptocurrency blockchain ledger but also unlocks new Bitcoins into the system. The process involves using computer power to solve complex mathematical puzzles. Bitcoin …

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Jamie Dimon: Bitcoin Is a ‘Fraud’

Jamie Dimon: Bitcoin Is a 'Fraud'

JP Morgan Chase chief executive Jamie Dimon doubled down on his past criticisms of bitcoin today, declaring it a “fraud” and saying he would fire any trader known to be trading the cryptocurrency. Dimon gave the remarks during an appearance at an event hosted by Barclays, according to reports from Bloomberg and CNBC. …

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Pizza by Bitcoin – CryptoCurrency Payment Method in Georgia

Company “Prego” adds bitcoin as a payment method. Prego will be the first company in whole region that makes it possible to pay by cryptocurrency, when launched, says Nodar Baghashvili, the Head of Company. It will be possible to pay by bitcoin from September. ”Pizza contributed a lot in developing …

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Ushba.io – Georgian Online Platform for Crypto Currency Trades

Ushba.io – Georgian Online Platform for Crypto Currency Trades

Ushba.io is a new Georgian platform for crypto currency trades. The platform enables people to exchange currency and contact each other through a mediator (Peer to Peer trading). At the same time, consumers are able to exchange crypto currency into traditonal currency (Flat Exchange) or place it in protected space …

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Currency Market Report for Previous Week and Forecasts

US Dollar recorded the worst indicator of the year on Friday in relation to key currencies. On the one hand, this was resulted by general strengthening of EUR, and, on the other hand, investors’ doubts about political stability of the USA. Trump failed to reform ObamaCare program and this factor …

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How Can Georgian Economy Benefit from Bitcoin?

For the first time in history, the price of Bitcoin broke its highest record (Figure 1) rising above 2,900 USD during the last week of June, 2017. One of the reasons why the market unexpectedly became optimistic about Bitcoin could be the fact that in April, the Japanese government formally …

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