BITMAIN IPO MAKES CRYPTO INDUSTRY UNEASY
Cryptocurrency mining giant Bitmain continues to gain attention over its initial public offering (IPO) as critics raise the alarm over its financial outlook. As bitrix.fi reported at the end of July, the manufacturer announced its plans to hold a $14 billion IPO before the end of 2018, having achieved Q1 profits of over $1 billion. […]
Bitcoin Trading is ‘Illegal in Saudi Arabia’
A standing committee comprised of various governmental ministries and the central bank of Saudi Arabia has warned that trading of ‘unauthorized’ cryptocurrencies like bitcoin is illegal in the country. In a statement published by the Saudi Arabian Monetary Authority (SAMA) – the sovereign Arab state’s deface central bank – on Sunday, a governmental committee declared […]
Robert Kiyosaki: USD Is a Scam
Robert Kiyosaki, the author of the famous financial self-help book Rich Dad, Poor Dad, has described the US dollar as a scam, declaring that bitcoin and other cryptocurrencies are “currencies of the people” that will outlive fiat currency. ‘The Dollar is Toast’ Speaking with Kim Hughes on the Sane Crypto Podcast in which he excoriated […]
Audit Giant Intuit Gains Patent for Bitcoin Transactions Using Text Messages
Audit Giant Intuit has been granted a patent that describes a method whereby Bitcoin payments can be processed by using text messages. The patent was filed to the U.S. Patent Office on June 13, 2014. The application explained a system that would allow two users to complete their payments using their mobile phones. It would […]
Keep Your Hands Off Cryptocurrency, Economist Tells World Governments
Prominent economist and editorial director of the American Institute for Economic Research (AEIR), Jeffrey Tucker, has urged governments and central banks around the world to let go of the idea of creating state-backed cryptocurrencies and instead focus on the soundness of the fiat system and the banking system. “Leave Crypto Alone” In an editorial published […]
Facebook’s David Marcus Quits Coinbase to Avoid ‘Appearance’ of Conflict of Interest
Facebook blockchain head David Marcus announced he was quitting his position on the board of U.S. cryptocurrency exchange Coinbase Friday, August 10, in a statement seen by various media outlets. Marcus, who joined the exchange’s board in December 2017 and took on a blockchain research group at Facebook in May, said he now thinks it […]
Bitcoin Cash ‘Chain-Splitting’ Bug was Detected by Bitcoin Core
It has emerged that the “unknown person” who notified Bitcoin ABC developers of a vulnerability in Bitcoin Cash which would have resulted in the unintended split of the altcoin’s network is actually a Bitcoin Core (bitcoin’s primary software implementation) developer. In a Medium blog post, Corey Fields revealed that he was responsible for anonymously and […]
BTC and ETHER Fall Substantially in $18 Billion Crypto Market Wipeout
Over the past 24 hours, the crypto market has recorded a loss of $18 billion, as major cryptocurrencies including Bitcoin, Ether, EOS, and Bitcoin Cash dropped by 4 to 13 percent. While Bitcoin ended the day with a 4 percent decline in its value, Ether, the native cryptocurrency of Ethereum, plummeted by 13 percent against […]
50% of Americans Willing to Try Out Bitcoin
A new poll conducted by analytics firm Harris Insights and cryptocurrency startup Gem revealed that 50 percent of the respondents are inclined to try out the asset class. The survey also revealed that those with lower incomes are more likely to buy Bitcoin. A new survey jointly held by a cryptocurrency startup and analytics company […]
Bitcoin Dominance Rate Hits 50%
Bitcoin [BTC] now makes up 50% of the entire cryptocurrency market capitalization. Shortly past 03:00 UTC on August 11, CoinMarketCap’s bitcoin dominance rate – an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency – reached 50 percent for the first time since December 19th, 2017. At press […]
Y Ventures Group Becomes First to Launch an ICO in Singapore
An e-commerce platform that recently launched a token sale aimed to raise $50 million has become Singapore’s first public firm to hold an ICO. Y Ventures Group, which went public on the Stock Exchange of Singapore last year, announced a plan for creating a blockchain-based e-commerce system in July and sent the sale of its […]
The India Government to Consider Allowing Crypto Tokens
The government is considering launching crypto tokens for financial transactions in the country, even as the existing ban on cryptocurrencies is likely to continue, sources said. A committee studying the use of crypto assets is working on a set of regulations, and specific actions, including a roadmap for allowing cryptocurrencies in future, local news outlet DNA […]
Iranian Hackers Developing Ransomware for Bitcoin
As the US gets ready to impose sanctions on Iran, hackers in that country are working on ransomware to secure bitcoin, according to cybersecurity experts interviewed by The Wall Street Journal. Accenture PLC’s cybersecurity intelligence group has followed five Iranian built ransomware variations in the last two years. The hackers are hoping to secure payments […]
Vitalik Buterin: Decentralized Exchanges Should Lead The Way
During an interview at Tech Crunch Sessions: Blockchain 2018, Ethereum Founder, Vitalik Buterin hoped “centralized exchanges burn in hell as much as possible” as he strongly advocated for the use of decentralized cryptocurrency exchanges. Vitalik’s fiery comments stemmed from his annoyance towards centralized exchanges wielding “stupid king-like power” as they have the power to dictate […]
Boomstarter.Network Introduces Payments with Cryptocurrencies
Boomstarter.Network, Eastern Europe’s largest service helping generate pre-orders for tech and business startups, allows payments to be made with cryptocurrencies. The fintech company launched in 2012 is pioneering the use of virtual money. Until now, leading global crowdfunding platforms have been offering only payments in traditional, centrally issued currencies processed by third parties — banks […]
Bitcoin Price Plummets to Mid-$6,000
Yesterday, bitrix.fi reported that the volume of BTC and the rest of the crypto market have dropped substantially since late July, by more than 30 percent. Given the failed recovery of Bitcoin’s volume and the overly strong downtrend of the crypto market, bitrix.fi reported that the price of Bitcoin will likely drop to mid-$6,000. “The […]
BITMAIN GOES WEST
Who would have imagined that cryptocurrency mining would be the key to making a former coal mining town in America great again? That’s exactly what is happening in Rockdale, Texas, a small Central Texas town of 5,861 that has endured economic troubles since the last coal-fired power plant and mine closed in January 2018. According […]
Criminal Activities Account for Just 10 Percent of Bitcoin Transactions
Cryptocurrency enthusiasts have long argued that it’s unfair to characterize bitcoin as a haven for drug dealers and money launderers. Now, they have data from the U.S. Drug Enforcement Agency (DEA) to back up that claim. Speaking in an interview with Bloomberg, DEA special agent Lilita Infante said that criminal activity accounts for approximately 10 […]
