Day: August 27, 2018

Bitcoin Cash Upgrade Debate: One CPU Equals One Vote

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If you are a Bitcoin Cash (BCH) proponent you’ve definitely been hearing a lot about the upcoming hard fork scheduled for November 15. Most people have been discussing the conflict between the Bitcoin ABC developers and Nchain’s recently announced Bitcoin SV project. This week Nchain’s Steve Shadders shared a post concerning the Bitcoin SV client that’s due to publish next month. Essentially Shadders explains the Nchain team is not forcing anyone to 128MB blocks; rather they are encouraging miners to configure block size limits themselves. Also read: Fivebucks.com: Meet the Freelancer’s…

Brazilian Crypto Platform Atlas Quantum Reveals Data Breach Affecting 260K Customers

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Brazilian crypto trading platform Atlas Quantum has recently suffered a major data breach which led to the exposure of clients’ personal data, the company’s official Facebook page stated Sunday, August 26. Atlas Quantum discovered the breach on Saturday, August 25, and has already started an investigation. The company informed users that the security incident has not affected funds from users’ accounts, thought they admitted that plenty of personal data has been leaked. As soon as Atlas Quantum found the leak, they took measures to protect the database from further attacks.…

Russia’s Largest Airline Pioneers Blockchain Pavements for Aviation Refueling

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Energy company Gazprom Neft and Russian airline S7 Airlines have announced the successful development and implementation of a blockchain-based system for handling aviation refueling. In a press release on Gazprom’s official website, it was revealed that the Aviation Fuel Smart Contract (AFSC) system has improved the speed and efficiency of two-way settlements in the highly precise and time-sensitive activity of aviation refueling. It has also effectively automated the process of planning and accounting for aviation fuel supplies. How it Works Information released to the media states that with the new…

Bitcoin is going to evaporate, says ‘Wolf of Wall Street’

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Jordan Belfort, aka, the “Wolf of Wall Street” believes that Bitcoin, the top-ranked cryptocurrency is going to evaporate. The former penny-stocker broker who was pleaded guilty to fraud charges in 1999 is no stranger to espousing negative rhetoric about Bitcoin and the cryptocurrency market in general. All the Makings of a Scam Speaking to CNBC as part of a documentary titled “Bitcoin: Boom or Bust,” Belfort expressed his staunch belief that BTC investors were heading for a sad end. According to Belfort, BTC is the next great scam that would…

Sources Claim Central Bank ‘Researching’ Blockchain to Decide ‘What It Can Adopt’

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Noises in the Indian media Monday, August 27 suggest the country’s central bank is keen to improve its understanding of cryptocurrency and blockchain, allegedly setting up a dedicated unit a month ago. As Economic Times reports, citing “people familiar with the central bank’s plans,” the unit focuses on “research” of the phenomena, “to check what can be adopted and what cannot.” The reports come as cryptocurrency remains taboo for Indian banks after the Reserve Bank of India (RBI) banned them from servicing industry businesses in April. Despite a slight nuance…

BTCUSD in Near-term Ascending Triangle

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Bitcoin price today spiked 3.5 percent against the US Dollar in an attempt to recover the losses incurred on Saturday. The BTC/USD pair started the Asian session by continuing to recover on the bounce from 6557-fiat. Despite a slow momentum, the pair protected its turg against the long-term bearish sentiment, rising to as high as 6785-fiat by the beginning of the European trading session. As US traders wake up from their sleep, BTC/USD would have already formed a near-term ascending channel, providing us potential breakout positions for the rest of…

Bank of America Blockchain Patents Are ‘Meaningless’: Former VP

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If patent applications were directly correlated with a company’s commitment to innovating in a particular field, then Bank of America would doubtlessly be one of Wall Street’s biggest blockchain bulls. The bank, the second largest financial institution in the U.S., has filed for approximately 50 patents related to blockchain technology, many of which also establish a framework for integrating cryptocurrency services into the firm’s core business offerings. Most recently, Bank of America filed for a patent to create an online cryptocurrency storage system, expanding on an earlier patent that the…

Fujitsu Backs IOTA as ‘New Protocol Standard’ for Audit Trails, Markets React

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Japanese ICT conglomerate Fujitsu is launching an IOTA-based proof-of-concept (PoC) for audit trail processes in the manufacturing industry, according to an official notice released August 25. The notice says the company will use the IOTA protocol as an “immutable data storage medium” for audit trails across “industrial production environments and supply chains,” with the aim to improve transparency, data trust, and data security. Leopold Sternberg, Program Manager at Fujitsu’s Munich-based Industry 4.0 Competence Center, is quoted as saying that the new partnership will “help roll out IOTA as the new…

Chinese crypto-mining firms chasing billions in Hong Kong IPO

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The fact that crypto-currency markets are currently down over 70% this year and Beijing authorities continue to crack down on all aspects of the industry, Chinese Bitcoin mining magnates remain undeterred and are seeking fortunes from upcoming initial public offerings. According to Reuters three of the world’s largest crypto-mining hardware makers – Bitmain, Canaan Inc and Ebang International Holdings – are planning multi-billion-dollar IPOs in Hong Kong. During the crypto boom in late 2017 demand for mining hardware went through the roof as digital currency prices soared. Huge mining farms were established with rows…

Issuance of Tether Stablecoin (USDT) In Major Way Is Not Affecting Crypto Markets Bitcoin (BTC) Prices

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A recently released report cited by Bloomberg states that the new issuance of Stablecoin Tether (USDT-USD) has not impacted the prices of major cryptocurrencies like Bitcoin (BTC-USD) lately. The study was done through the University of Texas. The study says that Tether indeed played a key role in manipulating or stabilizing prices, but now main affects smaller cryptocurrencies and not the larger ones. Manipulation using Tether According to the University of Texas paper, Bitcoin prices spiked and reached an all-time high of $20,000 only because of price manipulation. The publication…