Bitcoin News

Increased Chinese Interest in Libra Demonstrates China’s Importance to Cryptocurrency Markets

The hubbub surrounding Facebook’s new Libra cryptocurrency project hasn’t been terribly surprising. Any time a company that large undertakes a project of that magnitude, it’s bound to make waves. But surprisingly, it’s China that seems to be taking the most interest in Libra, not the US. China was the top country searching for information on Libra, with far more Chinese than Americans looking for information on Libra. That shouldn’t be shocking news, as China has long played a very important [...]

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Ransomware striking China

Ransomware That Hit US Spreads to China

Ransomware is increasingly becoming a problem to cities and municipalities around the country. The ransomware attack that hit Baltimore earlier this year is perhaps the most famous one, as it brought the entire city government to its knees. The hackers took down the city’s computer systems and demanded a ransom of 13 bitcoins in order to restore access. The city refused, and consequently will end up spending over $18 million to fix its systems. Hackers learned from that and began [...]

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US government skeptical of Libra

Facebook’s Libra Increasingly Under Scrutiny From US Government

Facebook may have expected to make a big splash with its Libra cryptocurrency project, and it certainly has. But the attention that Libra has garnered has been largely negative, particularly from government officials in the US and around the world. There’s a very real chance that the move to clamp down on Libra and Facebook could end up harming other cryptocurrencies too. One of the prime threats to Libra is that it could end up being classified as a security [...]

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President Trump Admits He’s “Not a Fan” of Bitcoin: How Will That Impact Investors?

President Trump’s tweets have almost become a matter of legend, with the ability to move markets with just a few short words. And while most of Trump’s tweeting deals with politics, world trade, and reacting to current events, he finally decided to tell the world what he thinks of Bitcoin and cryptocurrencies. Unfortunately for Bitcoin fans, Trump came out as someone who is not a fan of Bitcoin and cryptocurrencies. Some of Trump’s reasoning seems like it was stuck back [...]

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IRS Seeking Data From Tech Firms on User Cryptocurrency Activity

According to a recently leaked presentation, the Internal Revenue Service (IRS) is looking to force big tech firms to provide them with information on user cryptocurrency activity. IRS is allegedly looking into contacting firms such as Google, Apple, and Microsoft and looking for information about user downloads of cryptocurrency applications, particularly with regard to use of Bitcoin. The purpose of the IRS’ actions is to search for instances of potential tax evasion with regard to people concealing the gains [...]

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Crypto Mining Malware Now Spreading to Android

If it weren’t bad enough that crypto mining malware was targeting computers, new evidence has demonstrated that similar malware is now targeting Android smartphones. The software takes advantage of features within Android that are used to resolve defects in apps, and can replicate itself easily. While the malware is thus far centered in South Korea, it has spread to 21 different countries. The purpose of the malware is to create an enormous botnet of infected devices and harness their computing [...]

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Coinbase to Expand Cryptocurrency Debit Card Across Europe

Building on the implementation of its cryptocurrency debit card in the UK, US-based cryptocurrency exchange Coinbase is expanding the issuance of that card to more countries in Europe. Now consumers in Spain, Germany, France, Italy, Ireland, and the Netherlands will be able to use the Coinbase VISA debit card. The card allows consumers to spend their cryptocurrency holdings anywhere that VISA credit or debit cards are accepted. Users can choose to spend Bitcoin, Litecoin, and Ethereum, among others. The [...]

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Will Libra Backlash Mean the End of Cryptocurrency?

Facebook’s leap into the cryptocurrency sphere was met with applause by many market analysts and observers, but with great skepticism by both cryptocurrency enthusiasts and governments. Cryptocurrency enthusiasts distrust Facebook’s goals for its Libra cryptocurrency, and don’t believe that the company will hold true to many of the claims it makes about user privacy and the company’s transparency. And governments are skeptical about the social media behemoth’s attempt to leverage its online user base in order to create its [...]

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Bitcoin Passes 1 Million Daily Active Addresses

One of the key factors behind judging Bitcoin’s continued popularity is the number of addresses that are active in using or trading Bitcoin. Today that number stands at over one million, a figure that was first reached in November 2017 but that hasn’t been broached since then. That’s nearly double the number of daily active users at the beginning of 2019, which is a good sign that Bitcoin’s popularity is increasing. Figures on Bitcoin’s daily active users have been rising [...]

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Facebook’s New Libra Project: Will It Live Up to the Hype?

After months of planning and speculation, Facebook has finally announced its Libra cryptocurrency project. With a host of major corporations joining in the project, many mainstream analysts are hailing the new project as groundbreaking. But many in the cryptocurrency community are casting doubt on Facebook’s efforts. So will Libra end up being a world-changing currency or just more of the same old, same old from Facebook? Technical details on Libra are still somewhat sparse. We know that the servers that [...]

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