Month: September 2018

Less Than 10 Percent of Chinese Middle Class Invests in Crypto, Study Shows

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Less than 10 percent of the Chinese middle class are investing in cryptocurrencies after the government ban, according to a recent study cited by Technode Thursday, September 26. The report called “2018 White Paper on the New Middle Class” was prepared by Chinese financial writer and Professor of Shanghai Zhejiang University Wu Xiaobo. In the study, Wu deciphered the investment habits of members of the Chinese middle class. The newest edition marks the first time Bitcoin (BTC) or cryptocurrencies have appeared in the annual report. To get sufficient data for…

70% of Small-Cap Cryptocurrency Tokens Worth Less than ICO Raised

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More than two-thirds of small-cap cryptocurrency tokens distributed through initial coin offerings (ICOs) are currently worth less than the startups that issued them raised through their crowdfunding sales, a newly-published report has found. Small-Cap ICO Tokens are Hemorrhaging Value According to the report, which was compiled by cryptocurrency research firm Diar, the 562 ICO tokens ranked outside of the 100 largest cryptocurrency market caps have collectively lost $5 billion in nominal value against what these sales raised for the funding teams, with 70 percent of individual tokens seeing losses. Remarkably,…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, Dash: Price Analysis, September 28

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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. Have Bitcoin and the top altcoins bottomed out? We have been maintaining for some time that Bitcoin and a few other cryptocurrencies are in the process of forming a bottom. Now, several experts are also saying that Bitcoin is likely to rally in…

ICO statement in response to Facebook data breach announcement

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ICO Deputy Commissioner of operations, James Dipple-Johnstone, said: “It’s always the company’s responsibility to identify when UK citizens have been affected as part of a data breach and take steps to reduce any harm to consumers. “We will be making enquiries with Facebook and our overseas counterparts to establish the scale of the breach and if any UK citizens have been affected.” Source

BTC/USD Attempts for Triangle Resistance

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Bitcoin on Friday added 7 percent gains to its prevailing near-term upside momentum as it broke through its interim bias conflict. The BTC/USD kickstarted the day backed by a strong but unusual uptrend from the previous day, which saw a $275-jump within a matter of 1-2 hours. The beginning of today’s Asian session simply saw the pair maintaining the bullish bias, while trending sideways. The price action showed that some traders were expecting BTC/USD to attempt a breakout above the triangle resistance. The pair formed its weekly high towards 6833-fiat, which…

Luxury Watchmaker Hublot Unveils New Model, Available for Bitcoin Only

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Swiss luxury watch brand Hublot has unveiled its new watch Big Bang Blockchain in an official announcement September 19. The new model has been released to commemorate the upcoming 10th anniversary of Bitcoin (BTC). As per Hublot’s release, the 210-piece limited edition can only be purchased with BTC. The number of units symbolises the fact that the number of bitcoins will never exceed 21 million. To promote and sell the model, Hublot has partnered with Octagon Strategy Limited (OSL) –  a major Asian digital asset brokerage which will help process…

Over $80 million laundered through 46 exchanges, one exchange stands out

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With cryptocurrencies came the one issue that law enforcers across the globe will spend sleepless nights trying to keep up. Money laundering is that one thing that was given a lifeline by cryptocurrencies. According to a research done by the Wall Street Journal (WSJ) together with a London-based blockchain forensics company, it has been revealed that over $80 million laundered through 46 exchanges in just two years. The amount discovered can be higher considering that the research only reviewed around 2,500 suspicious wallet address Although 46 exchanges were responsible to…

Bitcoin Group SE Reports Profit Increase

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German digital currency exchange Bitcoin Group SE reported on Friday a first-half net profit increase of more than 300% to €3.33 million (~$3.86 million USD). The company added 86,000 new accounts of people buying and selling cryptocurrency like bitcoin and bitcoin cash in the first six months of 2018. Also read: Debit Card Issuer Bitnovo Announces Bitcoin Cash Support Bitcoin Group SE Profits 300% Rises on Increased Customer Traffic Bitcoin Group SE today reported its net profit soared 306% to $3.86 million in the first half of the year as more people bought…

Monero Dodges Yet Another Attack With Community’s Help

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This week, the developers of Monero (XMR) patched a bug that could allow an attacker to ‘burn’ the funds of an organization’s wallet. The breach was initially revealed by a community member, and XMR developers were quick enough to fix it before any damage was done. Anonymity above all: How Monero works Simply put, Monero (XMR) is a cryptocurrency like Bitcoin (BTC), but with an additional focus on anonymity. It was established in 2014, when bitcointalk.org user thankful_for_today forked the codebase of Bytecoin into the name BitMonero. To establish the…

Japanese IT Giant GMO Launches Zcash Mining Software Client

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Japanese internet services giant GMO Internet Inc. has launched a new mining software client designed for mining Zcash (ZEC) on graphic processing units (GPUs). GMO announced the new client, dubbed Cryptknocker, in a news release published September 28. Cryptknocker has reportedly been designed to enable users to mine cryptocurrencies that are based on the Equihash consensus algorithm using commonly-available GPU chips. Unlike more specialized Application-Specific Integrated Circuits (ASICs), GPUs are widely used in many domestic computers. As previously reported, when Zcash’s developers unrolled Equihash – the mining algorithm Zcash, as…