Month: May 2020

In the last few months, giant American corporations and financial incumbents that are subsidized by the U.S. government, have profited immensely during the coronavirus outbreak. This has caused certain groups of people and those who despise wealth to claim that “capitalism is broken.” However, today’s system, that’s currently practiced in the U.S. and many other nation states, resembles fascism far more than any capitalist ideal. How Covid-19 Has Caused Illiterate Pundits to Blame Capitalism on Society’s Recent Blunders Since the initial predictions came out from Neil Ferguson and Anthony Fauci’s…

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The US real estate market is facing a crisis as unemployment soars amid the coronavirus pandemic. Home sales have plunged to a nine-year low and a record-high number of homeowners are defaulting on their mortgage payments. The impact of the real estate crisis is also seen in rental and commercial real estate markets. Massive Declines in Home Sales, Housing Starts The economic crisis, coronavirus pandemic, lockdowns, and record-high unemployment have severely affected the real estate market. Existing home sales, which make up about 90% of all U.S. home sales, plunged…

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According to an online monitoring web portal called, Under the Breach, a hacker is purportedly trying to sell customer information that stems from companies like Keepkey, Trezor, Ledger, and even the investment platform Bnktothefuture. The hacker doesn’t seem to have any passwords, but is offering detailed information that was stolen from a Shopify breach like email addresses, home addresses, and phone numbers. The cybercrime resource known as Under the Breach has disclosed that customers who have purchased products using Shopify and purchased items from companies like Ledger, Trezor, Keepkey, and…

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The price of bitcoin and a number of other popular cryptocurrencies have been collectively holding a market valuation of around $255 billion. The fiat value of these cryptocurrencies has slipped downwards during the last four days. Despite the weekly losses of around 3-6%, many digital currency proponents are still very optimistic. Mainly because of how well crypto markets have performed during the coronavirus outbreak and the global economy’s current hardships. Entire Crypto Market Cap Still Hovers Above a Quarter of a Trillion US Dollars Digital currency supporters can safely say…

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Russian lawmakers have proposed new laws that seek to ban the use of bitcoin (BTC) and other cryptocurrencies in the country, local media reported. According to draft bills submitted by a group of deputies to the Russian parliament recently, individuals may face up to seven years in prison and fines of up to $7,000 for using BTC in financial transactions. People will also be penalized for buying crypto with cash or transferring to accounts opened with Russian banks. If signed into law, the bills will punish companies that issue or…

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In the early stages of trade, when economizing individuals are only slowly awakening to knowledge of the economic gains that can be derived from exploitation of existing exchange opportunities, their attention is, in keeping with the simplicity of all cultural beginnings, directed only to the most obvious of these opportunities. **The following essay was written by the father of Austrian Economics, Carl Menger, and was published in 1892. “The Nature and Origin of Money” was originally published after Menger testified before the Currency Commission in Austria-Hungary the same year. The…

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Iranian President Hassan Rouhani has called for a mining strategy throughout the oil-rich nation. The latest statements from the Iranian President follows Iran’s moves to restrict specific crypto trading platforms over “currency smuggling” mandates. On May 20, 2020, Iran’s President Hassan Rouhani told the press that the country needs to spur a cryptocurrency mining strategy, in order for the country to prosper economically amid U.S. sanctions. Reports stemming from the regional news outlet Arzdigital which claims Rouhani has told his administration to start drafting a crypto mining strategy for Iran…

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Bitcoin mining rig manufacturer Canaan Creative reported a net loss of $5.6 million for the first quarter of 2020, down from $9.5 million a year earlier. The Chinese company cut prices of its ASIC-based machines by over 50% in an effort to improve sales, but that wasn’t enough to prevent the heavy loss. Demand slumped as the coronavirus pandemic, which disrupted the movement of goods worldwide, took its toll. Shares of Canaan fell as much as 3.51% to $3.85 on the Nasdaq Stock Exchange, at Press time. The stock has…

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The cryptocurrency community has noticed a number of bitcoins from the August 2, 2016, Bitfinex breach has been moved. A small 30 BTC transaction ($282,000) from the stash has moved from the hacker’s address to an unknown bitcoin address. The last time coins from the Bitfinex incident moved was June and August 2019, as the bitcoins hadn’t transferred for three years since then. On August 2, 2016 the popular cryptocurrency exchange Bitfinex was hacked for approximately 119,756 BTC, which is worth a touch over $1 billion using today’s exchange rates.…

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On May 21, 2020, the infamous Craig Wright, the man who claims to be Satoshi Nakamoto, submitted a list of blocks and bitcoin addresses to the court that stem from the alleged Tulip Trust. However, armchair sleuths and blockchain analysis shows that a few blocks recorded in Wright’s recently filed list have been spent. Craig Wright Files a New List of Bitcoin Blocks and Addresses That Allegedly Belong to the Tulip Trust(s) The ongoing Kleiman vs. Wright lawsuit is heating up once again, as Craig Wright submitted a list on…

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