Decentralization

 Venezuela is preparing a new cryptocurrency called "petro gold" that will be backed by precious metals, President Nicolas Maduro said on Wednesday, a day after launching an oil-backed token that has been panned as a pipe dream by blockchain experts, quoted by Reuters. 

Venezuela’s new “petro” cryptocurrency will attract investments from Turkey, Qatar, the United States and Europe, the country’s cryptocurrency regulator has said.

Bitcoin exchange rate rose to $10,101, according to electronic cryptocurrency platform Coinmarketcap. Earlier, the bitcoin rate showed a sharp drop and fell to a mark of $5,996 on February 6. Bitcoin reaches its maximum value in December 2017 at $19,000.

An unprecedented robbery in Blagoevgrad. Thieves stole 21 cryptocurrency mining machines.

The machines are not cheap - their value is over BGN 200 thousand, Nova TV reported.

According to unofficial information the thieves were at least three. They muffled the security system and quickly managed to pick up the mining machines and escape in an unknown direction.

Arizona may become the first US state, residents are expected to soon be given the opportunity to pay their taxes in bitcoins and other cryptocurrency. The Daily Express announced that the bill was passed by the Senate last week. This bill received the support of 16 senators, 13 of whom voted against, and the document was adopted.

Joining the chorus of regulators calling for a crackdown on cryptocurrencies, the French and German finance ministers said digital tokens "could pose substantial risks for investors" and potentially long-term financial stability.

China plans to stamp out all remaining cryptocurrency trading in the country by blocking access to overseas-based websites and removing related applications from app stores.

India has announced that it is starting to fight the cryptocurrency, Reuters reported.

"The government does not consider cryptocurrency to be a legal tender and will take all measures to eliminate the use of these crypto-agents in the financing of illegal activity or as part of a payment system," said Finance Minister Arun Djatley.

The world's most valuable cryptocurrency, bitcoin, has lost over half its value since it smashed the $20,000 barrier in mid-December. The price of the cryptocurrency dropped to $9,555 at 15:00 GMT on Wednesday.

"The cryptocurrency market is experiencing a serious attack from speculators," Gleb Zadoya, head of analytics at Analitika Online said in email comments to RT.

Bitcoin, which hit a high of almost $19,000 on December 18, 2017 is headed lower - possibly much lower, for now.  This isn't the end of Bitcoin, just a view that in the near term, the price of Bitcoin will continue lower (it may bounce, but the highs are in, for now).  It is not the end of cryptocurrencies either, in fact the rise of other cryptocurrencies is part of the reason Bitcoin is due t