Bitcoin and Cryptocurrency News
Blockchain technology can revolutionize the way in which businesses provide services to both consumers and to other organizations. From building digital trust over a completely transparent ledger, to allowing participants to quickly interact via a peer-to-peer network, blockchain technology is proving to be a solution that will drive the next phase of digital transformation. This in mind, enterprises and companies are spending more money than ever before on blockchain solutions.According to I
Ask most, and youll hear the opinion that Asia is a minefield when it comes to cryptocurrency. The mere mention of regulatory action on the already-volatile markets sends the price of bitcoin and consequently altcoins into a nosedive. One need only look at the recent South Korean dilemma or Chinas ongoing aversion to cryptocurrency to confirm this. Clearly, the continents role in this emerging digital realm should not be underestimated.The attempts by certain governments to ban the exchange o
If you are one of the 81 million people who use WordPress to publish content, youll soon be able to automatically timestamp your works within the WordPress content management system using the new Po.et plugin.February 8, 2018 marked the launch of Frost, an open API and set of developer tools from Po.et that will enable content publishers and developers to more easily register their creative works on the blockchain. The new API will enable integrations and decentralized applications, including
Japan's largest Bitcoin and blockchain company, bitFlyer, has now received an official license to operate in the state of Illinois.After receiving a BitLicense to operate as a virtual currency exchange in New York in November 2017, the Tokyo-based company has now received approval to operate in 44 states and territories. On January 22, 2018, bitFlyer announced its expansion into Europe, after being granted a Payment Institution PI license to operate in the European Union. This announceme
On February 4, 2018, at 1010 p.m. China Standard Time, Financialnews, a rather small news agency under the administration of Chinas central bank, the Peoples Bank of China PBOC, released an article that explicitly stated that China will continue to watch virtual currency and activities related to it closely, and will take actions including shutting down commercial presences and exchanges within Chinas territory to uphold Chinas financial stability.This is the first time that China has sent a
Over the last couple weeks, bitcoin has seen a dramatic drop in price dropping from $20,000 to $6,000. Shortly after bottoming at $6,000, hopeful investors jumped at the chance to catch a discounted coin. Is this rise sustainable and does it mark the end of the drastic correctionLets take a look at the macro trendFigure 1 BTC-USD, 1-Day Candles, Macro TrendOne of the most concerning things regarding the health of this trend is the breakdown of both the parabolic and linear trends. Both trends
Regulators in Hong Kong have issued a strict warning to exchanges doing business with Chinese customers about trading tokens deemed as securities.In an announcement today, Hong Kongs Securities and Futures Commission SFC said it has sent letters to seven Hong Kong exchanges and firms attempting to fundraise through initial coin offerings ICOs, warning them about the legalities of selling digital tokens with the characteristics of securities. Most of those receiving the letter confirmed compli
Are miners the nodes on a blockchain that process transactions partners in a company And, if they are deemed partners, and a cryptocurrency project collapses leaving coin holders holding the bag, what legal construct is in place to protect miners from lawsuits One Vermont lawyer sees a nightmare unfolding.Stepping back a few steps, last month, several news sites ran stories about proposed legislation S.269 in Vermont put forth by Senator Alison Clarkson on January 3, 2018. Most focused on t
Today, February 6, 2018, the prospects for coherent U.S. regulation on cryptocurrencies became a little more clear, as were the impasses that were frustrating progress on the issue. The Senate Committee on Banking, Housing and Urban Affairs the Committee heard joint testimony from the heads of both the Securities and Exchange Commission SEC and the Commodity Futures Trading Commission CFTC. While both the SEC Chairman Jay Clayton and CFTC Chairman J. Christopher Giancarlo provided written tes
The Twitter account of Bitfinexed, the pseudonymous online critic of the worlds largest Bitcoin and cryptocurrency exchange, was suspended today. The blogger says his tweets were being reported and his account was being spammed with hundreds of thousands of fake followers, and he thinks Bitfinex is behind it. Bitfinex nor its public relations firm, 5W, immediately responded to a request for comment. An unregulated exchange, Bitfinex handles around $2 billion in bitcoin and cryptocurrency trad
Concerns are growing as to whether tether USDT, the stable token pegged to the dollar, is backed by actual U.S. dollars. And recent scrutiny by U.S. regulators is doing nothing to allay those fears. As of this writing, the number of USDT in circulation is 2.2 billion. That means Tether should have a matching number of dollars in one or several bank accounts. But, so far, no external audit has been conducted to show the money actually exists. Tether is owned and operated by the same individual
Former President of Mexico Vicente Fox was part of a panel discussion at the Blockchain Economic Forum in Singapore on February 5, 2018, and had a number of insights on blockchain technology generally and how Mexico might make use of it to help curtail corruption and rein in the drug trade.While President Fox openly admitted that he doesnt understand blockchain technology that well at this point learning more about it was a big reason he went to the conference, he does see the incredible pote
The written testimony from Jay Clayton, chairman of the United States Securities and Exchange Commission SEC, was released on February 5, 2018. It comes ahead of the chairmans oral testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs on February 6, 2018, on the matter of Virtual Currencies The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission. Usually the written testimony closely mirrors the language we
Over the last week, bitcoin has seen an aggressive markdown from the $12,000s to the $6,000s a 50 move in 7 days. Right now, a battle between the bulls and the bears is under way as the market is trying to decide if todays rally is a temporary bottom or a decisive end to the aggressive bitcoin bear marketFigure 1 BTC-USD, 1-Day Candles, Macro TrendTo date, the market has broken number lines of support including the daily 200 EMA. The daily 200 EMA has been a strong support for the last few y
Toronto City Council voted today to invite the public to make deputations to the City Executive on March 19, 2018, about why and how blockchain technology and new cryptocurrencies can be integrated into the way the city does business.The motion was introduced by Councillor Norm Kelly, who believes that Toronto is already well on the way to being an international innovation hub, and that the use of blockchain technology and cryptocurrencies could fast-forward this process.In an interview with
Most of the attention, flurry and investment around blockchain technology is in the West, where people are investing in cryptocurrencies and focused on a slew of novel applications, like using a blockchain to track vegetables from the field to store shelves. But the greatest impact of blockchain technology will be in developing countries, such as Zimbabwe and Venezuela. At least, that is the view of David Crosbie, a lecturer at the University of Pennsylvania. He thinks blockchain technology w
The National Institute of Standards and Technology NIST has issued a report titled Blockchain Technology Overview. The report, intended to provide a high-level technical overview, discusses the application of blockchain technology to electronic currency in depth, and also discusses its broader applications.We want to help people understand how blockchains work so that they can appropriately and usefully apply them to technology problems, said NIST computer scientist Dylan Yaga, who is one of
Squares Cash App has been updated to allow for purchasing of up to $10,000 worth of bitcoin a week.Since making the announcement, Square has seen itsstock hasclimb nearly 3 percent.Cash App is a peer-to-peer payment system from Square that allows people to pay each other directly and quickly. This new update has been in trial mode for select users over several months and is now available to the public. Users will have access to bitcoin trading directly in the app with no additional fees being
This article originally appeared on Bitcoin Magazine.
The European Commision EC has launched the EU Blockchain Observatory and Forum BOF to consolidate and grow blockchain initiatives within the European Union EU.With the support of the European Parliament, the BOF is a pilot project proposed by Member of the European Parliament Jakob von Weizscker, who is responsible for the recent report on virtual currencies. The project is intended to support the Commissions work on financial technology. This new initiative will highlight key developments of
In a statement from the Securities Exchange Commission SEC, an emergency relief action was filed to shut down AriseBank, which it described as an outright scam.In a growing list of enforcement actions by the SEC, the complaint against AriseBank stated that the Dallas-based company had used deceptive tactics to raise what they claim was $600 million of its $1 billion goal in just two months. Co-founders Jared Rice Sr. and Stanley Ford are being charged with alleged fraud and issuing unregister
The relatively high transaction fees on the Bitcoin network were a major topic of conversation last year, but these fees have been plummeting so far in 2018. According to data from CoinMetrics, bitcoin miners are now collecting less than a third of the value they were collecting in fees at one point in December 2017.So whats causing this decline in the costs of on-chain transactions Is it as simple as declining demand leading to a lower price Are there other factors at play Lets take a closer
Following one of the largest hacks in the history of cryptocurrency, Japanese cryptocurrency exchange Coincheck has announced that it will comply with an order from Japans Financial Services Agency to improve its business operations.On Friday, January 26, 2018, Coincheck was hacked, resulting in the loss over over $530 million USD worth of NEM XEM tokens. A full transcript of the announcement from Coincheck executives can be found here. The core of the problem was that Coincheck was keeping t
BTCC is exiting the Chinese market to focus on making digital currencies accessible to everyone globally. This acquisition by a Hong Kongbased blockchain investment fund is a milestone for BTCC and will allow BTCC to focus on global digital currency adoption.BTCC, located in China and founded in 2011, was the worlds oldest bitcoin exchange until it closed in September 2017 under pressure from the Chinese government. It changed business focus to its international pool, wallet and exchange mark
The World Economic Forum WEF has long been a lightning rod of global discussion on economic, social and political trends. This years gathering in Davos, Switzerland, was no exception.Blockchain technology emerged center stage last week as a key discussion theme, receiving praise from attendees for its cutting-edge potential. Bitcoin and the future of cryptocurrencies, too, were highly discussed topics at the forum, not just casually but also in an official session and a few panel discussions.
Looking back at bitcoins parabolic curve, we can see notable lines of support and resistance throughout its market cycle. Two highly reliable sources of support and resistance are the set of 50/200 EMAs and the Fibonacci Retracement set from the beginning of the bull market to the top of our current all-time highFigure 1 BTC-USD, 1-Day Candles, Macro TrendOver the last couple days, bitcoin has attempted to break the overhead resistance surrounding the 38 retracement values and the 50 EMA on t
At the end of 2017, Belarus President Alexander Lukashenko signed aDigital Economy Development Ordinance, aimed at developing the countrys IT sector and attracting blockchain technology companies, capital and talent from all over the world.Belarus becomes the first state in the world which opens up broad opportunities for the use of the blockchain technology, said Lukashenko. We have all opportunities to become a regional center of competence in this field.According to the Belarus News Agency
Hyperledger is a collaborative cross-industry effort to advance blockchain technology that is hosted by The Linux Foundation. Today, January 30, 2018, sees the release of Sawtooth 1.0, the second active Hyperledger project to reach 1.0, following Hyperledger Fabric 1.0 in July 2017.Sawtooth is a modular platform for building, deploying and running distributed ledgers using a new consensus algorithm, Proof of Elapsed Time PoET, which targets large distributed validator populations with minimal
Hydro-Quebc HQ is a public utility that manages the generation, transmission and distribution of electricity in Quebec, Canada, but it finds itself in a position of generating more power than its customers need.In an article from Le Journal de Qubec, ric Martel, president and CEO of HQ, relates how HQ is facing a death spiral for electricity consumption. Power consumption by customers in the province has been stagnating since 2007, as customers are adding more and more solar panels. At the sa
Lower highs and lower lows have been the story of bitcoin for the last few weeks market behavior that has left even the most bullish investors scratching their heads. Since bitcoins dramatic rise to $20,000, there has been a series of harsh drops temporarily stifled by feeble rallies. At the time of this article, BTC-USD has managed to break through three major levels of support of both the upper and lower parabolic trends, and a long-term linear trendFigure 1 BTC-USD, 1-Day Candles, Macro V
In the current cryptocurrency hysteria, everyone is a level 70 blockchain wizard launching a new hedge fund.Weiss Ratings released their cryptocurrency ratings yesterday. In response, they received a lot of criticism on social media. And rightly so.Ill get to the specific issues with the Weiss Cryptocurrency Ratings, but first I need to point out that the low quality of these ratings is merely an illustration of the current hysteria around cryptoassets more generally.Weiss Ratings has a long
The UCL Centre for Blockchain Technologies at University College London UCL CBT is launching a new pilot project for blockchain-based verification of academic credentials. MSc Financial Risk Management graduates are now able to display a verified qualification on their CV through a QR codebased on the Bitcoin blockchain, which instantly provides tamper-proof, verifiable information.The pilot will show that blockchain technology can be used outside of the financial sector, said Professor Tomas
The cryptocurrency marketplace in India is facing a siege from multiple parts of the government as several incidents amount to a buildup of the Narendra Modiled governments actions on regulating cryptocurrencies. If the reports out of India are true, the IMFs fastest growing country among emerging economies may have to meet its 7.4 percent GDP growth target in 2018 without the boost that the digital currency industry has provided in the past.The Prequel PM Modi Demonetized Rs 500 and Rs 1000
One of world's largest bitcoin exchanges by volume gets go-ahead to operate in Europe, Tokyo-based business says.
Cybercriminals exploit hype and basic coding errors to target Initial Coin Offerings in phishing attacks, Ernst & Young research finds.
The discovery comes as cybercriminals increasingly tap into cryptocurrency as lures, payment options or attacks.
The rapper 50 Cent has reportedly become a bitcoin millionaire after discovering that an account used to accept cryptocurrency for a 2014 album now holds a fortune.
Opendime is a tiny USB flash drive that can be loaded with bitcoin by the first user and given to another user, who is, in turn, able to pass it along to a third user and so forth.The private key attached to each Opendime is generated by the device at the time of setup by the user It is not known by anyone, not even by the first owner or by the Opendime company itself. Opendimes can be passed along multiple times to other users and verified. An Opendime stick can only be redeemed by the last
Security is one of the hottest topics in todays ever-evolving digital world. A steady flow of debate continues to take place at tech forums worldwide on topics like encryption, passwords, two-factor authentication, hardware wallets and the like.As cryptocurrencies and the tools being used to manage them take shape, questions loom about the most efficacious ways to protect both user assets and privacy. One individual who is at the epicenter of this active space is Paul Puey. He is co-founder a
Six Korean banks will begin allowing the simultaneous opening of accounts, deposits and withdrawals, as well as transfers of funds between these accounts and exchanges, beginning on January 30, 2018, but with some new restrictions.South Koreas government continues its efforts to rein in the trading of virtual currencies such as ether and bitcoin with a new announcement from South Koreas Financial Services Commission. Investors will now be required to convert their virtual bank accounts to rea
Like many other mainstream economists, Paul Krugman has long-shown a complete disdain for Bitcoin. In late 2013, he went as far as to write a piece titled Bitcoin Is Evil for his column in The New York Times.Moral objections to bitcoin are one thing, but Krugman also does not see much utility in the cryptoasset at all. While he has been able to express his hatred for Bitcoin quite clearly, his technical criticisms of bitcoin as a new type of asset and store of value leave something to be desi
In anewly published paper on the use of bitcoin for illegal activity, researchers from the University of Sydney, the University of Technology Sydney and the Stockholm School of Economics in Riga indicate that a quarter of all bitcoin users are associated with illegal activity.The use of bitcoin for illicit purposes has long been the most controversial aspect of the cryptoasset, although it has taken a back seat to speculation around the bitcoin price over the past few years.In addition to est
Despite a rapid rise in value over the past year, the price of bitcoin could fall to $1,000 per coin in the next 12 months, a major Wall Street investment chief has warned.
Technology pioneer John McAfee is urging spooked bitcoin investors not to panic after it emerged that major banks in India were investigating the country's top exchanges.
Malicious websites used to generate password details for the fintech network IOTA are reportedly to blame for the theft of nearly $4 million from users' cryptocurrency wallets.