Day: September 23, 2018

Novogratz Says Crypto Market Showing ‘Classic Bottom’

boss

Michael Novogratz, the founder of the cryptocurrency asset management firm Galaxy Digital, believes the market has hit a bottom. The market is experiencing “seller fatigue,” Novogratz contended while speaking at Yahoo Finance’s second annual All Markets Summit on Thursday, and added further that bitcoin, the biggest cryptocurrency by market capitalization, is now on the upswing. Indeed, bitcoin is showing signs of life, having persistently found takers around $6,000 in the last three months. Hence, the signs indicate that the bears have likely run dry. Novogratz also took note of the…

US Congressman Drafts Bills to Aid Blockchain Development

boss

U.S. Representative Tom Emmer wants to support the development and use of blockchain technology and cryptocurrencies. To that end, the lawmaker announced a trio of blockchain-focused bills Friday, saying he intends to introduce them into Congress in the coming weeks. The bills tackle a range of issues around the blockchain space, including development, miners and cryptocurrency-related taxes. The bills are aimed at providing support for the nascent industry, a press release said. In a statement, Emmer said that “the United States should prioritize accelerating the development of blockchain technology and…

XRP Shot Up 75% During Friday’s Bullish Trading Session

boss

The price of XRP spiked as high as 75 percent above its opening price at one point during Friday’s trading session amidst a broader market bull parade. At roughly 14:45 UTC, the price of XRP rose to a peak of $0.77 – representing a 75 percent increase from its opening price of $0.45, according to CoinDesk’s XRP Price Index (XPI). For several hours, the surge in investor interest was enough for the cryptocurrency to briefly dethrone ether (ETH) as the world’s second largest cryptocurrency by market capitalization. At the time,…

The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret

boss

This week’s major bitcoin bug was even worse than developers initially let on. The bug originally rocked the bitcoin world when it was reported the vulnerability could be used to shut down a chunk of the network. While this sounded bad enough for many, it turns out developers for Bitcoin Core kept a second, bigger part of the bug a secret. As disclosed through an official Common Vulnerabilities and Exposures (CVE) report, an attacker could have actually used it to create new bitcoin – above the 21 million hard-cap of coin…

Momentum Is Building to Block Ethereum ASICs

boss

Several ethereum miners and developers have come forward with the goal of stopping specialized mining hardware from effectively operating on the network. Underway since April, the controversy surrounding application-specific integrated circuits (or ASICs) on ethereum rose after news broke last Thursday of a new line of specialized mining hardware that claims to generate more than six times as much profit as that of the product of its main competitor, mining giant Bitmain. Following the news – and citing concerns regarding the lack of action taken by developers to stop the growing use…

Bitcoin stolen from Zaif Exchange is now spread across several thousand addresses

boss

Part of the 6.7 billion yen ($60 million) worth of cryptocurrencies hacked from Cryptocurrency Exchange Zaif apparently went through a “mixing service” that made tracking those Bitcoins virtually impossible, according to an Asahi Shimbun investigation. The process involved dispersing the Bitcoins to several thousand accounts after transferring them into what is presumed to be the hacker’s account. Osaka-based Tech Bureau Corp. announced Sept. 20 that the Zaif exchange it operates was hacked last week and virtual currencies valued at about 6.7 billion yen were illicitly transferred. According to Tech Bureau…