Bitcoin News

More and More Bitcoin Held in Actively Transacted Wallets

Ryan Tucker2018-10-12T11:20:36+00:00

In an encouraging sign for Bitcoin’s use as a transactional currency, a greater number of bitcoins are now being held in wallets that show signs of transactional use. Around 4.8 million bitcoins are currently held in wallets that show signs of use, up from 3.8 million bitcoins held in those wallets during the height of the Bitcoin boom at the end of 2017. That bodes well for the future of Bitcoin as a medium of exchange and not just [...]

October 18, 2018 By Ryan Tucker

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Stocks Tanked, But So Did Bitcoin: Why?

Adam Gardiner2018-10-12T07:37:27+00:00

Last week’s stock market crashes sent investors scrambling for safe assets. While the Dow Jones lost thousands of points, gold shot up over $30 per ounce as investors poured their money into a traditional safe asset. But while traditional safe harbors climbed in price, Bitcoin’s price dropped several hundred dollars. That confounded observers who thought that Bitcoin would act as another alternative asset for investors to flee to. Why did that happen? Safe Harbor Against the Dollar, Not Stocks First of [...]

October 15, 2018 By Adam Gardiner

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Why Do New York Authorities Not Seem to Understand the Cryptocurrency Business?

Ryan Tucker2018-10-04T14:45:14+00:00

While New York state authorities were the first in the country to draft a regulatory framework for cryptocurrency businesses, the notorious “BitLicense” has been more of a hindrance to cryptocurrency businesses looking to operate in the state rather than a help. Very few companies have even tried to apply for a BitLicense, with many preferring just to avoid the state altogether. Despite the state’s reputation as the most unwelcoming state for cryptocurrency businesses, the New York state government doesn’t [...]

October 11, 2018 By Ryan Tucker

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Increase in Cryptojacking Attempts Highlights Need for Security

Adam Gardiner2018-10-04T14:08:00+00:00

It’s no surprise to anyone who has followed cryptocurrency markets that cryptocurrencies are popular with investors. Unfortunately, cryptocurrencies have also become popular with criminals. That’s particularly the case with criminals who engage in cryptojacking, hijacking other people’s computers in order to harness their processing power to mine new units of various cryptocurrencies. The number of cryptojacking attempts has increased over 459 percent since last year and shows no signs of abating. As long as cryptocurrencies remain popular, and as [...]

October 8, 2018 By Adam Gardiner

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California Bans Bitcoin Donations for Political Campaigns

Ryan Tucker2018-09-28T08:54:17+00:00

In a setback for cryptocurrency enthusiasts, the California Fair Political Practices Commission (FPPC) banned political campaigns from accepting cryptocurrency donations. The commission cited its concerns over the difficulty of tracking the origins of cryptocurrency donations as well as the transparency of those donations. The ruling is at odds with that of the US Federal Election Commission (FEC), which has allowed donations of Bitcoin to be made as in-kind contributions since 2014. While most political campaigns probably don’t take in a [...]

October 4, 2018 By Ryan Tucker

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ECB Has No Plans to Issue Digital Currency

Adam Gardiner2018-09-28T08:15:06+00:00

While cryptocurrencies have become more and more popular with consumers and investors, even governments are starting to get in on the action. By now everyone is familiar with Venezuela’s petro, and with Iran’s attempts to create its own cryptocurrency. Even larger countries such as India are exploring the possibility of issuing their own cryptocurrencies, and the Chinese government is widely suspected of researching the feasibility of a Chinese cryptocurrency. But one government that won’t be issuing a cryptocurrency any [...]

October 1, 2018 By Adam Gardiner

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Asset-Backed Cryptocurrencies: The Wave of the Future?

Ryan Tucker2018-09-27T07:10:20+00:00

While Bitcoin has taken the world by storm, one of the knocks on it has been the fact that, like most other cryptocurrencies, it is not backed by anything. Many of Bitcoin’s opponents in the world of central banking, in particular, like to point out that Bitcoin is just an unbacked currency created ex nihilo, oblivious to the fact that their central bank currencies are created just the same way. But a recent trend has seen the development of [...]

September 27, 2018 By Ryan Tucker

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Coinbase Opens New NYC Office to Push Cryptocurrency to Institutional Investors

Adam Gardiner2018-09-26T19:28:16+00:00

In a new push to engage institutional investors, US cryptocurrency exchange Coinbase has opened an office in New York city. The office, which Coinbase hopes to staff with up to 150 employees in the near future, will help to engage Wall Street and the US financial industry and aid in the adoption of Bitcoin and other cryptocurrencies. Many of the company’s new hires at the New York office are expected to come from the financial sector, where their expertise [...]

September 24, 2018 By Adam Gardiner

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Hackers Using Flaw Discovered by NSA to Illegally Mine Bitcoin and Monero

Ryan Tucker2018-09-26T19:28:00+00:00

In news that has shocked cryptocurrency markets, it has been reported that hackers are exploiting a software flaw first discovered by the US government to take control of computers and use them to mine cryptocurrencies such as Bitcoin and Monero. The exploit, known as Eternal Blue, was a flaw in Microsoft software first discovered by the US National Security Agency (NSA). The flaw’s existence was leaked from the agency, allowing hackers a previously unknown backdoor into perhaps millions of [...]

September 21, 2018 By Ryan Tucker

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Coinbase CEO Expects One Billion Cryptocurrency Users

Adam Gardiner2018-09-27T07:09:33+00:00

Coinbase CEO Brian Armstrong recently stated that within five years he expects the number of people within the cryptocurrency ecosystem to increase from 40 million to one billion. That would be a tremendous leap in adoption, meaning about 1 in 7 people around the world would be active in the cryptocurrency sphere, either as a user, investor, or working in the industry in some capacity. And that in turn would mean tremendous growth potential for cryptocurrencies. Ethereum founder Vitalik Buterin [...]

September 17, 2018 By Adam Gardiner

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