Bitcoin & Cryptocurrency

Cryptocurrency Market Reaches Record High of $121 Billion, Bitcoin Shares Weaken

Cryptocurrency Market Reaches Record High of $121 Billion, Bitcoin Shares Weaken

A new all-time record has been hit by the entire cryptocurrency market, exceeding its $120 billion mark. Breaching the $120 billion limit happened within just two months, after the notable $100 billion crypto-cap was exceeded in June. Prior to the the crypto market’s increase, it experienced drops in July from $63 billion. It quickly recovered the $100 billion mark once again in August 1, during the Bitcoin Cash blockchain fork. According to sources, the combined market value of every listed digital currency is now $121.1 billion. Analysts have also tracked cryptocurrency exchanges of up to $4.3 billion within 24 hours […]

Bitcoin Price Surges Over the $3,000 Record High, Hodlers Enjoy Gains

Bitcoin Price Surges Over the $3,000 Record High, Hodlers Enjoy Gains

Bitcoin just traded at $3,104 during press time last Saturday, which is the highest BTC price of all time. Many reluctant BTC hodlers were finally able to enjoy their gains despite the uncertainty that came in the last month. When the Bitcoin Cash (BCH) fork was announced last month, many analysts changed their minds about the BTC’s strength. But others remained calm, encouraging investors to trust in the foundations of BTC while assuring them there is no real risk of loss. The BTC trade update proved them right, leading to significant gains. As for other cryptocurrencies, Ethereum (ETH) and Litecoin […]

Slow Start for Bitcoin Cash After August 1 Blockchain Split

Slow Start for Bitcoin Cash After August 1 Blockchain Split

Reports last Wednesday revealed that it took almost 6 hours to mine the first batch of Bitcoin Cash following the recent forking to create the blockchain split. This spells a notably slow start for the new cryptocurrency, which is said to have very few miners contributing to its mining operation.   According to the managing director of trading site eToro, the Bitcoin Cash’s sluggish progress is likely due to the low number of miners supporting the new currency. However, Bitcoin Cash blockchain co-founder Jeff Garzik assured traders that less computing power will eventually be needed to mine new blocks, which […]

Bitcoin Traders Experience Withdrawal Delays Following Foundation of Bitcoin Cash

Bitcoin Traders Experience Withdrawal Delays Following Foundation of Bitcoin Cash

In a report last Monday, traders who opted to transfer their Bitcoin from Coinbase to a user-activated hard fork (UAHF) for Bitcoin Cash are now having trouble waiting for more than 12 hours of delayed withdrawals. In the past few months, the Bitcoin network had been having an increasing number of service disruptions, including inconvenient blackouts. The congested network goes offline during peak trading hours with ill-functioning gateways. The down times and withdrawal delays are attributed to the Bitcoin Cash blockchain fork that will be launched today, August 1. Bitcoin Cash is said to credit traders with BHSC accounts. The […]

Largest Cloud Bitcoin Mining Firm Genesis Mining Has Been Hacked

Largest Cloud Bitcoin Mining Firm Genesis Mining Has Been Hacked

According to a report last Saturday, bitcoin mining giant Genesis Mining said that their system was hacked on July 21, with funds stolen from the firm’s hot wallet. The incident prompted their systems to temporarily close down until the issue was resolved. Despite the alarm, Genesis said the transferred funds did not pose grave losses for its clients. They assured customers that their mining operations are unaffected by the incident. Though there will be some delay, the company will reimburse payouts for all its users. The bitcoin mining firm has also taken the necessary measures to strengthen its security system […]

Stanford PhD Cryptography Academic Provides Cryptocurrency Lecture for Free

Stanford PhD Cryptography Academic Provides Cryptocurrency Lecture for Free

Last Sunday, news reported that a free cryptocurrency lecture was launched recently by Dr. Dan Boneh, an esteemed Stanford faculty member who specializes in cryptography. The free module that comes with a full class curriculum can be download online, with case studies focusing on Bitcoin and Ethereum tokens. According to the lecture overview, it covers smart contracts and employment, Blockchains, and dispensed consensus. Dr. Boneh is one of the primary authors that helped create the Weil Pairing cryptography together with Matt Franklin from the University of California. He completed a computer science degree in 1996 from Princeton before becoming professor […]

Banks in China Starts First Blockchain Compatible Credit Transactions

Banks in China Starts First Blockchain Compatible Credit Transactions

News last Saturday reports that Chinese banks now have blockchain-based systems that can handle credit applications more efficiently to maximize time and save delivery costs. Called the BCLC, the blockchain-enabled transaction network is the first of its kind in the financial industry that allows the technology to work with traditional banking. This transmission development also enables vendors and buyers to record credit history, decreasing the risk scams and system faults. The project was initiated by CITIC president Sun De-Shun to integrate improved blockchain banking capability in the current system. They collaborated with Minsheng Bank to set up the pioneering blockchain-ready […]

Bitfinex Announces Miners Will Fork to Create New Token, Bitcoin Cash

Bitfinex Announces Miners Will Fork to Create New Token, Bitcoin Cash

Cryptocurrency firm Bitfinex announced in reports last Friday that another blockchain will be made on August 1 by a few Bitcoin miners who will be forking. This will result to another token called the Bitcoin Cash. Throughout the forking, Bitcoin holders’ accounts will be the same as the balances in Bitcoin Cash.  Even with the new token, it will not impact Bitcoin accounts. Bitcoin traders had several responses to the new token, especially with how it should be treated by traders. Since the firm recognized there were interested traders in the Bitcoin Cash, they began devising methods of dispensing it […]

SEC Seeks to Regulate Cryptocurrency Offerings in Wall Street

SEC Seeks to Regulate Cryptocurrency Offerings in Wall Street

New York– According to reports last Wednesday, the Securities and Exchange Commission (SEC) decided that initial coin offerings (ICO) in Wall Street must undergo the same regulations as standard investments. The SEC explained that cryptocurrency tokens are regarded as securities which require registration lest there are more reasonable lines for exemption. According to sources, there are fund raising projects being instigated by inexperienced traders with unrealistic business proposals. Another alarming concern is posed by cyber attackers that steal ICO funds, funneling cryptocurrency straight into their own accounts. SEC enforcement co-director Stephanie Avakian stated that innovations in how digital currency works […]

Greece Captures Alleged Russian with Bitcoin Laundering Chain Worth $4 Billion

Greece Captures Alleged Russian with Bitcoin Laundering Chain Worth $4 Billion

Athens-Moscow-New York — Last Wednesday, Greek authorities finally caught international fugitive Alexander Vinnik, the leader of a massive Bitcoin laundering operation since 2011. Based in Russia, Vinnik is said to have laundered roughly $4 billion Bitcoins by running one of the most infamous cyber crime websites in the world. Bitcoin is the first cryptocurrency that employs hidden transactions through encryption, making it hard for traditional financial firms to regulate. The Russian suspect was captured following a slew of U.S. crack downs against Russian hackers, with authorities closing the AlphaBay dark web market last week. However, according to sources, there are […]