Tag Archives: bitcoin
(ZHE) — It looks like Russian President Vladimir Putin needs to pay his nuclear scientists more. As the BBC reported Friday, the Russian security officers have arrested several scientists working at a top-secret Russian nuclear facility for allegedly mining crypto-currencies. The suspects had tried to use one of Russia’s most powerful supercomputers to mine Bitcoin. “There has been an unsanctioned attempt […]Source: Russia Arrests Nuclear Scientists for Mining Bitcoin With Top-Secret Supercomputer
Internet giant eBay made headlines this week over its decision to drop Paypal as a payment processor on its site.
BITCOIN’S price could drop by as much as 80 per cent if the cryptocurrency tether is revealed to have been artificially increasing its value resulting in a “bloodbath” for investors, experts have warned.
By JOSEPH CAREY
Tue, Jan 30, 2018
Tether is owned by a trading company named Bitfinex which has recently come under scrutiny by a blogger identifying themselves as Bitfinex’d.
The user has detailed in posts, tweets and YouTube videos that tether has been plucked from thin air to boost the value of bitcoin.
Investor worries have stemmed from the fact Bitfinex has previously declared that all of its coins are backed by real US dollar deposits, giving it a one to one value.
However, market concerns have been heightened following the series of blog posts from Bitfinex’d that, if true, could send bitcoin crashing if it is discovered its value has been artificially bumped up.
To prove to investors that there is nothing to worry about, Bitfinex promised to release an audit of its financials – however this has not taken place.
Since then, Bitfinex (more…)
SOUTH Korea has demanded that the veil of secrecy surrounding bitcoin transactions be removed as the government has planned to only allow accounts with a users’ real-name to be used in cryptocurrency transactions, it has emerged.
By JOSEPH CAREY
Tue, Jan 23, 2018
The plan would make sure local banks only allow accounts headed by the users’ real name when they are making cryptocurrency transactions.
Real names will have to be used starting from January 30.
Kim Yong-beom, the vice chairman of the Financial Services Commission, stated that the names on a virtual coin exchange wallet and bank account must be the same for a user to be able to make deposits.
The push is part of a series of demands from South Korea to clampdown on bitcoin – President Moon Jae-in recently warned that virtual currencies are causing mass “confusion” across the nation.
Following moves from the Seoul earlier this month, cryptocurrencies went into free fall as investors fled major digital coins.
Bitcoin temporarily fell below its $10,000 milestone on some tracking websites while ethereum (more…)
Jim W. Dean – Finally we get a professional report giving a peek inside the Bitcoin exchanges to see how trading markets could be manipulated.
Source: US News Bitcoin price manipulated from $150 to $1,000 by single actor – Veterans Today
by John Galt
January 16, 2017 17:45 ET
Uh, um, yup.
At least the new kid on the block with the super-duper ultra blockchain is still rocking it, right?
What a nightmare.
This is what happens when fiat money chases imaginary crypto fiat money and a crash occurs. The exits are not big enough, there is not enough liquidity, and panic ensues. If it doesn’t, well, all I can say is the exit was obvious at $17,000 and now you’ll be lucky to catch a bid, if there is such a thing, at $7,000. Ripple, aka, Ripanewhole, you might get $0.10 on the dollar, again, if you can figure out a way to get a bid.
Pop goes the weasel baby. I hope the DJIA/S&P masters of the universe are paying attention because they are in just as precarious a position as the Geek Squad investors.
UPDATE – 1750 ET:
5 minutes after I post this, BTC has bounced over 11,000 and XRP over 1.05. I guess they got Mortimer back in there to SELL, SELL, SELL!
THE price of Ripple has starkly risen this month, but cryptocurrency experts warn investors they are not buying into the next bitcoin.
By DARIUS MCQUAID
Fri, Jan 12, 2018
Industry experts say the online money cannot be defined as a cryptocurrency due to the way it is mined.
Critics say Ripple should not be included on sites such as CoinMarketCap as it is misleading.
Litecoin creator Charlie Lee said: “XRP is NOT a crypto-currency.”
Bitcoins are created through miners who run code that validate transactions and keeps the currency secure.
Mining is the processing of transactions in the digital currency system, in which the records of current bitcoin transactions, known as a block, are added to the record of past transactions, known as the blockchain.
Ripple’s setup has no miners, as all 100billion coins were created when the network launched in 2012. The creators kept 20bn for themselves and gave the rest to the company in charge of Ripple, called Ripple Labs.
Ripple also requires a more specific computer to validate transactions, and needs the computer to identify itself (more…)
11 Jan, 2018
People hoping to attend an upcoming conference dedicated to cryptocurrencies have been told they must pay for their tickets in regular old dollars because using crypto is too slow and expensive.
The North American Bitcoin Conference (TNABC), which will be held in Miami next week, said on its website that it has closed payments using bitcoin and other cryptocurrencies due to network congestion and manual processing.
“Due to the manual inputting of data in our ticketing platforms when paid in cryptocurrencies, we decided to shut down bitcoin payments for last minute sales due to print deadlines,” the organizers said.
“Hopefully, next year there will be more unity in the community about scaling and global adoption becomes reality.”
Rising transaction fees and lengthy processing times have been a big bone of contention in the crypto community in recent times and organizer Moe Levin told Bitcoin.com that they also made it difficult for the conference to accept digital currency.
According to Blockchain.info it currently takes more than 50 minutes to confirm a bitcoin transaction.
“We wish (more…)