Bitcoin News

Four US Crypto Exchanges Form Self-Regulatory Organization

Following in the footsteps of cryptocurrency businesses in South Korea and Japan, four US cryptocurrency exchanges have established a self-regulatory organization (SRO). The four, Gemini, Bitstamp, Bittrex, and bitFlyer USA, have created the Virtual Commodity Association Working Group, with the goal of becoming a self-regulatory organization for the US cryptocurrency industry. Among the aims of the new organization is to develop industry standards and define best practices for cryptocurrency companies within the US. One complicating factor is that Coinbase, arguably [...]

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indian gov

Indian Government to Examine Possibility of National Cryptocurrency

In a move to try to lessen the cost of printing physical cash, the Reserve Bank of India is exploring the possibility of issuing a national digital cryptocurrency. It’s an unusual reason to look into digital currency, but given the high usage of cash among Indians and the country’s geographic size and large population, the cost of printing and moving money is not insignificant. Adding to the cost was the move by the Indian government in 2016 to demonetize [...]

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cryptocurrency

Majority of Investors Want to Buy More Cryptocurrencies

A recent survey of investors and consumers found that the majority want to buy more cryptocurrencies within the next 12 months. The survey, conducted by Sharespost, asked questions of nearly 2,500 consumers and over 500 individual accredited and institutional investors. Despite the short-term downswing in cryptocurrency prices, 59 percent of investors and 72 percent of consumers plan to add to their cryptocurrency holdings over the next year. That’s roughly in line with the expectations for cryptocurrency valuations over the [...]

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SEC Rejects Bitcoin ETF Proposals

The US Securities and Exchange Commission (SEC) recently rejected nine applications to register Bitcoin exchange-traded funds (ETFs). ETFs have become a popular method for investors to gain exposure to alternative assets such as gold, oil, and other commodities without having to actually purchase the commodities themselves. The general way in which ETFs operate is that the fund will purchase the commodity, then issue shares to investors. The value of each share is supposed to fluctuate depending on the value [...]

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video cards

Video Card Sales Declining: What Does That Mean for Cryptocurrencies?

One of the side effects of the surging popularity of cryptocurrencies has been the overwhelming demand for computer video cards. Due to the performance of the graphics processing units (GPUs) in video cards, they make an ideal source of computing power to mine numerous popular cryptocurrencies. And while Bitcoin mining has long been more efficient with the ASIC miners developed specifically for cryptocurrency mining, some cryptocurrencies such as Ethereum and other altcoins are specifically geared towards being easier for [...]

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bitcoin hackers

Judge Demands Cryptocurrency Be Used for Hacker’s Bail

Federal authorities in California recently arrested a Serbian national in connection with a hacking attack on a San Francisco video game company. Arrested at San Francisco International Airport as he attempted to board a flight to Serbia, Martin Marsich was accused of accessing 25,000 accounts that customers could use to purchase in-game items. Using the information from those accounts, Marsich was able to obtain in-game currency to buy and sell in-game items, allegedly causing losses of $324,000 to the [...]

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cryptocurrency theft

Just How Big a Problem Is Cryptocurrency Theft?

When famed bank robber Willie Sutton was asked why he robbed banks he replied, “Because that’s where the money is.” With a financial system that is increasingly electronic, the money is more and more often no longer stored in banks, instead it’s stored online. So it’s no surprise that criminals continue to go to where the money is, using a variety of techniques to try to steal online wealth from individuals and institutions. With the rise of cryptocurrency and its [...]

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bitcoin iran

Iran Going Forward With Plans to Issue National Cryptocurrency

Venezuela isn’t the only country that will be developing its own national cryptocurrency. Iran has once again proclaimed that it, too, intends to develop its own national cryptocurrency with the aim of evading US sanctions. How exactly the country intends to do that remains unclear. The timeline of the cryptocurrency’s development hasn’t been publicized either, so it’s unsure whether, like many projects Iran claims to develop, it will ever come to fruition. There are two things to keep in mind [...]

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bitcoin hacker

How to Keep Your Bitcoin Safe From Hackers

It probably shouldn’t be too surprising to most people that hackers are the number one threat in the cryptocurrency world. Hacking was a problem even when Bitcoin wasn’t terribly valuable, with Mt. Gox having been a victim from 2011, when Bitcoin peaked at over $30, to 2014, when the hack was finally brought to light at a time when Bitcoin was worth over $500. Now that Bitcoin is worth many times that, the incentive for hackers is greatly increased. There [...]

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bitcoin venezuela

Venezuela’s New National Currency to Be Backed by Cryptocurrency

In response to the hyperinflation and devaluation of the Venezuelan bolivar, the Venezuelan government has announced that it is creating a new national currency, the bolivar soberano (sovereign bolivar), which will replace the existing bolivar fuerte (strong bolivar). The new national currency will be pegged to Venezuela’s oil-backed cryptocurrency, the petro. This is the first time that a national fiat currency has been pegged to a cryptocurrency. The new bolivar soberano will chop five zeros off the existing bolivar fuerte, [...]

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