Day: September 16, 2018

This Dormant $720 Million Bitcoin Wallet Has Woken Up

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Once again in the world of cryptocurrency, we have a mystery on our hands. A $720 million sleeping giant has woken up after four years, with $100 million moved to Bitfinex and Binance over the course of ten days at the end of August. The bitcoin wallet contains 111,114 BTC or 0.52% of the total supply. The sudden movement of these dormant funds could have a disruptive potential in the market price action, particularly if the funds belong to one of the two possible likely candidates suggested by Reddit sleuth u/sick_silk. The Redditor brought…

SEC Heightens Crypto Crackdown, While US Court Ruling Marks Cryptos as Securities

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Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week New York Judges Rules Securities Laws Be “Flexible” And Apply To Cryptocurrencies In an apparent first, a New York federal judge has ruled that U.S. securities laws are applicable for prosecuting crypto fraud allegations. During the fraud case against Brooklyn resident Maksim Zaslavskiy…

A Case for Bitcoin (BTC): The USD is Not Backed By Gold or Silver and Has an Unlimited Supply

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The fact of the matter is that many of us know more about Bitcoin (BTC) and the rest of our favorite digital assets, than we know about our local fiat currencies. We simply found our local currency being used and went along with the story that it was how the world operated. We embraced the United States Dollar as the most stable currency fit for being the standard across the globe. But we did not know that it was not backed by Gold or Silver. Gold Standard ‘Abolished’ by President…

Market Slightly Declines As Volume of Bitcoin Drops, Where is it Heading?

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The valuation of the crypto market has dropped from $205 billion to $199 billion, as Bitcoin dropped below the $6,500 mark once again. In the past three hours, the crypto market has rebounded by $2 billion to $201.5 billion, demonstrating some resilience in the $200 billion region. Crypto market valuation, chart from CoinMarketCap.com ETH, the native cryptocurrency of the Ethereum blockchain network, showed strong momentum over the past three days, achieving a monthly high at $227. While other major cryptocurrencies fell by 1 to 4 percent, ETH managed to record…

Korean Mobile Carrier LGU+ Launches Blockchain-Based Overseas Payment System

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South Korea’s LG UPlus, a mobile carrier owned by the country’s fourth largest conglomerate LG Corp., is launching a blockchain-based cross-carrier overseas payment service, Korea Times reports today, September 16. Last Thursday, September 13, LG UPlus had signed an MoU to develop the new service alongside three global partners: Taiwan-based Far EasTone Telecommunications, Japan’s SoftBank, and U.S.-based TBCASoft. Through the new service, users of one telecoms carrier will be able to frictionlessly complete transactions on the payment networks of another. According to the Korea Times, the first trial of the…

Grin Is Hard Forking Every Six Months to Keep ASICs Off the Network

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The Grin community is trying to keep ASICs away – but only for the next two years. Best known for implementing MimbleWimble, which refactors and in turn, improves both the privacy and scalability of its blockchain,  the developers of Grin recently released a technical roadmap that looks to keep the powerful mining hardware from being used on its network. The plan includes changing the cryptocurrency’s proof-of-work algorithm every six months, a move that would mean system-wide upgrades or hard forks each time. While powerful, ASICs can only focus on one…

Coinbase’s New NYC Office to Hire 100 in Wall Street Crypto Push

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The crypto industry unicorn Coinbase has aggressive growth plans for its newly opened New York office, which caters to institutional clients. The digital asset exchange plans to expand the operation to 150 employees next year, from 20 currently. According to the company, the slump in cryptocurrency prices this year has not quelled institutional demand for this asset class. “When we saw the market begin to correct, which we all expected, institutions didn’t lose interest,” Adam White, general manager of Coinbase Institutional, told CoinDesk. “It was exactly the opposite.” He added:…

Open Heart Surgery: Inside Ethereum’s Crucial Replacement of the EVM

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At the heart of ethereum lies a virtual computer. Stored across tens of thousands of nodes that make up the platform, the ethereum virtual machine, or EVM, is responsible for executing the countless tokens, dapps, DAOs and digital kittens of which the blockchain is comprised of. It’s an engine on top of which the entirety of ethereum operates, and it speaks in a language named “EVM bytecode” — raw, 256-bit strings of information that can deliver any conceivable equation (providing it falls within the platform’s self-imposed limit, gas). Sounds powerful and…

Tezos Surges 50% in a Week Ahead of Scheduled Mainnet Launch

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Tezos, the eighth largest initial coin offering (ICO) in history, is launching its mainnet on Monday. Ahead of its mainnet launch, the price of XTZ, the native token of the Tezos network, surged by more than 50 percent. Since September 9, XTZ has increased by over 52 percent from $1.15 to $1.75, prior to its highly anticipated mainnet launch. Investors in the cryptocurrency market have been especially enthusiastic about the progress that has been made on the development of Tezos over the past few months, after a year-long dispute amongst…

CTOR, Huh? Yeah! What Is It Good For?

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CTOR, Huh? Yeah! What Is It Good For? September 16, 2018 by Paul de Havilland With the implementation of CTOR into the BCH protocol via Bitcoin ABC slated for inclusion in the November 2018 upgrade, the bitcoin cash community has witnessed something of a division over its advantages and risks. So what is CTOR, or “Canonical Transaction Ordering Rule”? Let’s take a look. Also see: No ‘Crypto Euro’ Planned, According to Chief of European Central Bank Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Canonical Transaction Ordering…