Day: July 9, 2018

Following ‘Security Breach,’ Bancor Expects to Be Online in 24 Hours

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Decentralized cryptocurrency exchange Bancor, which experienced a “security breach” July 9, has told Cointelegraph that it expects to come back online within 24 hours. Bancor halted operations this Monday due to an investigation of a “security breach,” which involved more than $12 million. The exchange confirmed the breach on its Twitter account, saying that “no user wallets were compromised.” The cybercriminals reportedly exchanged some of the tokens through conversion service Changelly. Sources familiar with the matter told Cointelegraph that the stolen tokens included Bancor’s native token BNT, about 25,000 Ethereum…

Bitcoin Will Fail as Governments Increase Regulation

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Three major American economists have recently spoken negatively about Bitcoin’s (BTC) chances for survival in an interview with Financial News today, July 9. Joseph Stiglitz, Kenneth Rogoff, and Nouriel Roubini all made statements arguing that Bitcoin will fail as a currency, namely criticizing the cryptocurrency’s absence of intrinsic value and its price volatility. Stiglitz, a Nobel Prize-winning economist and professor at Columbia University, in particular criticized Bitcoin’s anonymity, which he argued contradicts the idea of creating “a transparent banking system.” According to the economist, cryptocurrencies like Bitcoin allow for “nefarious…

Here’s What EU Researchers Think of Cryptocurrencies

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On July 9, a “Monetary Dialogue” session was held by the Committee on Economic and Monetary Affairs Committee (ECON) of the European Parliament. It’s a quarterly conference that is directly interlinked with the European Central Bank (ECB): Every three months, the president of the ECB (or, occasionally, another representative) appears before the Committee to report on the state of monetary policy in the union. It is worth noting that the ECB has a complex relationship with cryptocurrencies, with its president declaring last year that it wasn’t “in their powers to…

$7K Back in Play? Price Indicators Shift In Bitcoin Rally’s Favor

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It may not have been the asset’s biggest rally, but it’s hard to say bitcoin isn’t building on gains. Since hitting an annual low of $5,785 in June, bitcoin has increased roughly 15 percent against the U.S. dollar, and technical indicators suggest the cryptocurrency might not be calling it quits just yet. That said, you’d be forgiven for having doubts. The rally has been interrupted over the past few days by resistance at $6,800, a level first approached on July 4. With a close of $6,584, the day arguably saw…

Major Futures Exchange Cboe Files For Bitcoin ETF, Increasing Probability

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Cboe, the world’s largest futures exchange, has filed for a bitcoin ETF with the US Securities and Exchange Commission (SEC), to enable investors in the public market to trade bitcoin. Bitcoin-Only ETF The official document filed by CBOE with the SEC emphasized that the Trust, referring to Cboe, will only invest in bitcoin on behalf of investors. Essentially, Cboe will facilitate over-the-counter (OTC) trades amongst accredited investors in the traditional finance market, while insuring funds in bitcoin acquired by investors. The document read: “According to the Registration Statement, the Trust…

20 Arrested in Cryptojacking Case Allegedly Affecting Over 1 Million Computers

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20 suspects have been arrested in China in a major cryptojacking case allegedly affecting over one million computers and generating 15 million yuan (about $2.2 million) in illicit profits, local news source Legal Daily reports today, July 9. Cryptojacking is the practice of using a computer’s processing power to mine for cryptocurrencies without the owner’s consent or knowledge. According to local sources, investigation of the case began in January 2018, after the security team at Tencent –– the tech giant that developed WeChat –– alerted the Weifang City Public Security…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, NEO: Price Analysis, July 09

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. The lack of mass adoption in daily use has led many critics to question the future outlook of cryptocurrencies. However, researchers at Imperial College London have said that within the next decade, digital currencies will be used as a payment method for goods…

Walmart’s Latest Patent Unveils Blockchain-Based Delivery Management System

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U.S. retail giant Walmart’s latest blockchain-related patent application describes a “secure” delivery management system, according to a filing published by the U.S. Patent and Trademark Office (USPTO) July 5. The newly published application, entitled “Delivery Reservation Apparatus and Method,” outlines a blockchain-based management system for delivery lockers that can keep delivered items safe until their purchasers are able to sign for and collect them.   A “blockchain reservation” system is proposed for “some embodiments” of a system to track which lockers are free, and which are occupied: “Each space on the…

Chinese Yuan Now Accounts for Less Than 1% of Bitcoin Trades, Says PBoC Report

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China’s central bank, The People’s Bank of China (PBoC), has stated that the Chinese yuan now accounts for less than 1 percent of global Bitcoin (BTC) transactions, local news outlet Asia Times reports today, July 9. The PBoC released a new report on Friday, July 6, indicating that the yuan’s share of global Bitcoin trades has plunged in the months following the government’s crackdown on the cryptocurrency industry, Asia Times reports. Whereas in 2017, Chinese exchanges accounted for over 90 percent of the global crypto industry –– a figure corroborated…

Crypto Daily News | Vitalik Buterin on Centralized Exchanges; HBUS Open

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In today’s edition of Crypto Daily News, we cover why Vitalik Buterin slammed centralized cryptocurrency exchanges, the Philippines making moves in cryptocurrency, and HBUS’s opening in the United States. Crypto Daily News: Vitalik Buterin Hates Centralized Exchanges On July 6th, Vitalik Buterin spoke in a ‘fireside‘ chat with Jon Evans at the TechCrunch Session focused on the blockchain. Most of the session was about Buterin’s hate for centralized cryptocurrency exchanges. “I definitely hope centralized exchanges go burn in hell as much as possible,” Buterin told Evans heatedly. His ideal situation would…