Bitcoin News

Bitcoin mining rig

China to Crack Down on Bitcoin Mining? Why That’s Good News for Bitcoin Investors

China’s National Development and Reform Commission (NDRC) recently published a draft paper that highlighted Bitcoin mining as an undesirable industry for the country. Bitcoin miners have long flocked to areas with cheap and abundant sources of electricity, which in practice means hydroelectric or geothermal energy production. Rural areas of China, upstate New York and parts of Canada, Washington state, and Iceland have all become areas to which Bitcoin and cryptocurrency miners have set up shop. It helps even more that [...]

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Is Most Bitcoin Trading a Hoax?

A recent study of Bitcoin trading claimed that about 95% of all reported Bitcoin trading volume is a hoax. The transactions are mostly spoofed in an attempt to manipulate Bitcoin prices for various reasons. If that is in fact the case, does it even make sense for people to invest in Bitcoin? It’s important to remember that spoofed trading exists in all markets, and it especially has affected cryptocurrency markets. If you look at the meteoric rise and fall of [...]

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Beware of scammers when investing in cryptocurrency

If It Sounds Too Good to Be True, It Probably Is

It’s no secret that the cryptocurrency boom that catapulted Bitcoin past $20,000 a couple years ago brought quite a few investing neophytes into the cryptocurrency ecosystem. At a time when prices seemed to be doubling every month, it seemed that the sky was the limit and that all you had to do was buy Bitcoin and hold it to get rich quick. Reality struck, however, and Bitcoin eventually fell back to earth. But there are still individuals out there [...]

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Mt. Gox sales could sink Bitcoin

Bitcoin Broke Through the $4,000 Barrier, But Will Mt. Gox Sales Sink It?

For weeks Bitcoin traded in a fairly narrow price range. The $4,000 barrier was an upper bound that Bitcoin had only periodically breached but which was an important one psychologically. Bitcoin needed to be able to smash through $4,000, and then there was no telling how much more it would appreciate over the course of the year. But just as Bitcoin has broken through that barrier, news comes from Japan that may depress Bitcoin’s price and keep it from [...]

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Are stablecoins as stable as the dollar?

Are Stablecoins Really as Stable as They Claim?

One of the advantages of Bitcoin that appealed to many first adopters of the technology was the fact that it had no central authority. The only central entity was the protocol itself, which was used by miners, consumers, and investors across the globe. That meant that no single entity could create new bitcoins out of thin air. In the post-financial crisis era that saw trillions of dollars of new money created out of thin air through quantitative easing by [...]

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North Korea has been hacking crypto exchanges

Is Your Bitcoin Safe From Hacking?

A recent report commissioned by the United Nations Security Council has indicated that North Korea has been behind many major hacks of cryptocurrency exchanges. The regime sees cryptocurrencies as a means of evading Western sanctions, as their quasi-anonymity and ability to be laundered multiple times with ease allows the regime to steal funds and use them to turn into cash or buy goods. Estimates of North Korea’s hacking activities indicate that North Korea was behind at least five hacks [...]

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Bitcoin can survive power outages

Bitcoin Needs Electricity, But Is That Its Achilles Heel?

Bitcoin has revolutionized the world of payments, allowing individuals to transact with each other without the use of banks or other centralized payment processors. Those transactions can even take place across international borders, with greatly reduced cost versus what would normally occur through the banking system. But the one knock on Bitcoin is that, as an internet-based digital currency, it requires electricity to function. Whereas good old cash can change hands in the event of a power outage, Bitcoin [...]

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Eastern Caribbean dollar

Eastern Caribbean Central Bank to Pursue Digital Currency

While numerous countries have discussed the possibility of issuing their own digital currency, the actual issuance of central bank digital currencies has in most cases failed to materialize. Aside from Venezuela’s much-derided petro, which doesn’t seem to be gaining much traction, no other central bank has issued its own digital currency. Until now. While many larger central banks have highlighted problems with direct central bank issuance of digital currency, particularly as they relate to the well-developed Western consumer banking system, [...]

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Coinbase Acquisition of Firm Tied to Hackers Highlights Importance of Keeping Your Data Safe

A few weeks ago US cryptocurrency exchange Coinbase came in for a tremendous amount of criticism from consumers and investors after a recent acquisition. The exchange purchased a blockchain analytics firm, Neutrino, whose CEO, CTO, and chief resource officer had all previously worked at the security firm Hacking Team. Hacking Team was notorious in the digital world for its creation of online surveillance software and its connection to human rights abuses and crimes throughout the world. Hacking Team software had [...]

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Will Facebook create its own digital currency?

Facebook to Launch Its Own Cryptocurrency?

With growing backlash from governments over its erosion of data privacy and growing discontent from users overs its censorship and suppression of alternative points of view, Facebook is desperate to staunch the flow of users leaving its platform and relieve pressure from government authorities. The company needs to hit a home run in providing a service that consumers find valuable, and it looks like it may choose a cryptocurrency as that vehicle. Facebook has built up its blockchain team recently [...]

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