Bitcoin & US Elections: Surge in Hedges Against Market Decline As Trump Leads

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Reports say a tightening U.S. election race has gotten Asian shares tumble to a 7-week lows and the US dollar lost ground against the yen and the euro on Wednesday November 2. This comes as the Republican presidential candidate, Donald Trump, is reportedly closing the gap with his Democrat counterpart, Hillary Clinton, and money is being forced out of riskier assets and into safe-havens such as the Swiss franc and gold, according to Reuters. As a growing safe haven alternative to gold and its recent record high in number of users and transactions, Bitcoin is likely to benefit from the current market outlook. Trump and Bitcoin Though there hasn’t been any empirical proof to support the claim of a direct correlation with Bitcoin and its recent corrected price to the slightly above $700 range, the Trump’s candidacy, has been implied to be in tandem with the growing popularity of the top digital currency. Recently, an academic and author David Golumbia suggested in a blog post that the politics of Blockchain should make people worried about Trump and those who support him, signaling that some attributes of Bitcoin and the Blockchain technology are interfering with the ongoing US presidential election and …

Bitcoin ATMs

QuadrigaCX to Install Bitcoin ATMs All Over Canada

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QuadrigaCX, the leading bitcoin exchange in Canada, is planning to install a large amount of SumoPro two-way bitcoin ATMs, manufactured byBitXatm in major cities across the country. In 2014, the largest Canadian bitcoin exchange back then (CAVIRTEX) attempted this feat by using ATMs manufactured by BitAccess, installing them in locations with a high amount of traffic by cooperating with Gateway Newstands, a franchise store. One notable location where one of these ATMs could be found is the famous tourist attraction, Niagara Falls. However, it was quickly removed in less than a month, and a similar fate faced the other ATMs installed in places like Toronto and Ottawa, which led to the company’s eventual bankruptcy. Even though the locations gave these ATMs a large visibility, their failure has been attributed to the fact that they were inadequately staffed and prone to malfunction, with little to no customer and technical support. A year later, QuadrigaCX, a company that has since taken over CAVIRTEX’s spot of largest Canadian bitcoin exchange, takes on this challenge and explains that their plan will be different, and that its fate will also be different. “We are excited to finally be bringing some functional and beautiful two-way bitcoin ATM machines to Canada,” …