Bitcoin News

Bitcoin's network becoming more decentralized

Bitcoin Continues to Grow More Decentralized

In another piece of positive news for Bitcoin, recent research indicates that Bitcoin’s mining network is growing more and more decentralized. That’s a positive for Bitcoin, as it means that no one network could threaten a potential “51 percent attack” and unilaterally rewrite Bitcoin’s rules. And the more decentralized the network becomes, the less likely such a theoretical attack could ever occur. Back in 2014, the GHash.IO mining pool controlled about 50 percent of Bitcoin’s mining resources. That led to [...]

Custodians are more secure than exchanges

Reason #478 That Custodians Are Superior to Exchanges

Most cryptocurrency investors choose one of two ways to store their cryptocurrency holdings: they either hold them with a cryptocurrency exchange or they utilize investment vehicles such as cryptocurrency IRAs and hold their assets with custodians. Unless investors look closely underneath the hood, they may not see the difference between the two, and may not realize why storing Bitcoin and cryptocurrencies with a custodian is superior to trusting an exchange. The primary reason to choose an investment in a Bitcoin [...]

Crypto hacking is still problematic

Theft and Hacking at Cryptocurrency Exchanges Remain a Problem

The fear of theft and hacking remains one of the issues keeping many people from trying to invest in cryptocurrencies. And recent research indicates that those people have every reason to remain fearful. Lat year an estimated $1.7 billion worth of cryptocurrencies were stolen from their owners, mostly from cryptocurrency exchanges. Total market capitalization of cryptocurrencies peaked last year at nearly $800 billion but now sits at a little over $100 billion. Depending on when those cryptocurrencies were stolen and [...]

Is the petro dead?

Will the Coup in Venezuela Render the Petro Stillborn?

To many in the cryptocurrency world the announcements surrounding the Venezuelan government’s petro cryptocurrency token were almost taken as a joke. With few details ever published about the cryptocurrency’s basis, how it would work, or how sales would be made, no one expected the petro to ever get off the ground. That didn’t dissuade the Venezuelan government from trying to push the petro through though. The petro was pegged to the bolivar, paid to government workers, and the government [...]

Bitcoin tax payments

Paying Taxes in Bitcoin: Will State-Level Proposals Make Headway?

State lawmakers in the US have made several proposals over the past few years for their states to accept Bitcoin in payment of taxes. Most legislative proposals haven’t gone anywhere, dying in committee or failing when voted upon. But last year Ohio became the first state to accept Bitcoin as a payment for taxes, thanks to efforts undertaken by its state treasurer. And online retail giant Overstock, whose CEO has been a huge proponent of Bitcoin and cryptocurrency, declared [...]

Bitcoin ETF application withdrawn

The Government Shutdown Claims Its First Crypto Victim

With government agencies shutting down and furloughing their employees for the past month, not much has gotten done. While that hasn’t affected overall cryptocurrency markets too much, it has affected specific projects that are dependent on federal approval. And because the outlook for the government reopening was looking so bleak, the shutdown last week claimed its first cryptocurrency victim. The CBOE BZX Exchange withdrew its application to launch a Bitcoin exchange-traded fund (ETF) last week, when the government shutdown looked [...]

Mining malware increased nearly 4,500 percent

Crypto-Mining Malware Increased Nearly 4,500 Percent in 2018

One of the concerns many investors have with possibly investing in cryptocurrency is the risk of becoming susceptible to hackers. Thankfully, many of those concerns are able to be addressed through taking basic security measures. And investors in Bitcoin IRAs have the benefit of working with custodians who are able to use secure vaults, hard storage, and offline wallets to keep their clients’ Bitcoin investments safe and secure. But even if your investments are safe from hackers, you could [...]

Government shutdown is delaying approval of crypto products

Is the Government Shutdown Affecting Crypto?

With the federal government now having been “shut down” for a month, we’re starting to hear more and more accounts of the toll it is taking. While much of the focus has been on government workers and the hardships they’re having to endure by working without pay and missing paychecks, there are more and more stories of businesses too that are having to engage in contingencies due to the shutdown. From breweries unable to get government approval for new [...]

Overstock to pay Ohio taxes in Bitcoin

Overstock Plans to Pay Some of Its Taxes in Bitcoin

One of the key aspects to the adoption of any currency throughout history has been the ability for people to use the currency in payment of taxation. That was the case for metal coinage, paper money, and now for cryptocurrencies. With Ohio’s announcement late last year that it would begin to accept Bitcoin as payment for taxes, that set the stage for Bitcoin to finally gain acceptance as a viable currency. Now online retail giant Overstock has announced that [...]

New York state forming Bitcoin task force

New York State to Form Task Force to Study Bitcoin, Blockchain, and Cryptocurrencies

The government of the state of New York has become infamous among Bitcoin enthusiasts for its antipathy towards Bitcoin and cryptocurrencies. With the world’s financial center residing in New York City, it would only be natural for New York to become a center of Bitcoin and cryptocurrency innovation. Yet the New York government continues to put roadblocks in the way of Bitcoin firms. The vaunted BitLicense, which was supposed to provide a framework through which cryptocurrency firms could get licensed [...]