Month: December 2018

Markets Update: Cryptocurrency Gains Start Lifting Confidence Among Traders

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The cryptocurrency economy has seen some improvement over the last 48 hours as many of the top digital assets are seeing gains between 5-15% this Saturday. The entire ecosystem of all the coins in existence has gained about $5 billion since the small correction on Christmas day. Furthermore, global trade volume has also increased indicating that the bulls may be rested after experiencing some exhaustion last week. Also Read: Many Self-Proclaimed Bitcoin Inventors and Satoshi Clues Were Debunked in 2018 This Weekend’s Top Cryptocurrency Markets The weekend is here and a…

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Skeptical Payoneer CEO Dismisses Idea of Single Currency Like Bitcoin as Unrealistic

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Payoneer chief executive officer Scott Galit has dismissed the idea of a single global currency like bitcoin as unrealistic. Galit argued that he doesn’t believe countries like the U.S. will ever allow citizens to pay taxes in bitcoin because of too much volatility in the price of the cryptocurrency. Also read: Former Mt. Gox CEO Says He is Sorry But Maintains His Innocence as Trial Closes U.S. Will Never Allow Tax to Be Paid in Bitcoin, Says Galit As a single global currency, bitcoin is viewed as key to ending willful…

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Skeptical Payoneer CEO Dismisses Idea of Single Currency as Unrealistic

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Payoneer chief executive officer Scott Galit has dismissed the idea of a single global currency like bitcoin as unrealistic. Galit argued that he doesn’t believe countries like the U.S. will ever allow citizens to pay taxes in bitcoin because of too much volatility in the price of the cryptocurrency. Also read: Former Mt. Gox CEO Says He is Sorry But Maintains His Innocence as Trial Closes U.S. Will Never Allow Tax to Be Paid in Bitcoin, Says Galit As a single global currency, bitcoin is viewed as key to ending willful…

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Hardware Bitcoin Wallets Hacked: The Importance Of Responsible Disclosure

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Following yesterday’s article regarding vulnerabilities uncovered in hardware wallets, both Trezor and Ledger have called ‘foul play’ over irresponsible disclosure. Hardware hacking group, wallet.fail, who exposed the security issues, at least partially deny this claim. Responsible Disclosure In the security world, hackers generally only go public with their findings after giving companies time to patch the vulnerabilities. Disclosing potential methods of attack before vendors have addressed them leaves users exposed to unnecessary risk. Responsible vendors actually encourage hackers to attack their products, as by identifying weaknesses, overall security improves. Both Trezor…

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The Daily: Wallet Hacking Debate Heats Up, Bitcoin-Based Patreon Alternative Emerges

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To kickstart the weekend, we’ve curated a handful of short but compelling stories from across the crypto sphere. First up, we’ll revisit the fallout from Wallet Fail’s demonstration of hardware wallet cracking. We’ll then move on to a Patreon alternative that’s powered by cryptocurrency and a viral tweetstorm about everything that’s allegedly wrong with Ethereum. Also read: Blockchain Company Buys Spanish Soccer Club, Cementing Crypto-Sports Connection More Hardware Wallet Manufacturers Respond to Hacking Claims As we reported yesterday, a team known as Wallet Fail have captured attention after demonstrating how…

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German Startup Devises Eco-Friendly Energy-Efficient Miners

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Azultec is a company that has been researching current mining solutions as part of its project to create an efficient alternative with high computing power and low energy consumption. Its Cube devices are silent mining rigs that can be installed in living rooms. The miners can also use renewable energy and are designed to reuse over two thirds of the generated heat. Also read: Transnistria Welcomes Crypto Miners, Plans to Expand the Industry Miners Made Suitable for Living Rooms Mining equipment manufacturing has been an industry long dominated by giants…

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Japanese Regulator Publishes Proposed Rules for Cryptocurrency Service Providers

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Japan’s top financial regulator has published the final report outlining proposed rules for cryptocurrency service providers to follow. The rules address areas such as hacking incidents, coin listings, financial and price disclosures, margin trading, and crypto custodial services. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Final Report of Proposed Rules Japan’s Financial Services Agency (FSA) has published the final report from last week’s study group meeting on crypto exchanges detailing requirements “as a precondition of the proper principle of self-responsibility.” The agency expects crypto service…

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Has Crypto Grown in 2018?

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So it seems, the two worlds of crypto and global politics have finally collided. Over the last 24 hours, I have seen several crypto analysts trying to blame bitcoin’s fall below $3,680 last night on the US Government Shutdown.  Their logic is that due to the shutdown, we may see a delay in the launch of Bakkt. As Bakkt is still pending regulatory approval many think that the shutdown could affect this timeframe. Furthermore, many people now seem certain that the delay will last about two weeks. Going into the…

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Blockchain Company Buys Spanish Soccer Club, Cementing Crypto-Sports Connection

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Dutch crypto company Libereum has announced the acquisition of Spanish soccer club Elche CF, who are based in the province of Alicante. The move provides another sign that the crypto world’s interest in sports sponsorship and partnerships is growing.  Also Read: Etoro Will Give Dollar Equivalent of BSV to Pre-Fork Bitcoin Cash Holders Libereum and Elche Share Joint Vision Libereum, a company which is “primarily aimed at making cryptocurrency widely accessible to the average person,” has put down an initial payment of €4.3 million ($4.9 million) for the Spanish club. The acquisition marks a…

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A.T. Kearney Report: Bitcoin Will ‘Mature’ and Reclaim Market Share in 2019

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Bitcoin is not dead, management consultancy AT Kearney has concluded in its 2019 predictions – the latest source to defy claims it is trending to zero. Cryptocurrencies Are ‘Post-Crash’ As part of its annual series of ten forecasts for the coming year, somewhat less ‘outrageous’ than a similar tradition at Saxo Bank, the company declared Bitcoin and altcoins to be “post-crash.” After celebrating its tenth birthday with nearly 80 percent losses against all-time highs in December 2017, BTC is set to start its “second decade in a state of post-crash…

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