Day: October 8, 2018

While Major Crypto Exchanges Flourish, Minor Platforms Struggle

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The world’s largest crypto brokerage Coinbase is reportedly close to finalizing a $500 million funding round at a valuation of $8 billion, and Binance has started to become more active in the investment sector, funding blockchain startups internationally. While major cryptocurrency exchanges like Coinbase, Binance, and BitMEX are seeing their businesses flourish with lucrative business models and high profit margins, minor exchanges are struggling in the bear market. This week, the UK’s oldest exchange, Coinfloor, has slashed the number of its employees after recording a decline in its revenues as a…

UK Telecoms Regulator Receives Grant to Deploy Blockchain for Telephone Number Management

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The United Kingdom (U.K.) Office of Communications (Ofcom) has received a £700,000 ($916,00) grant from the Department of Business, Energy and Industrial Strategy (BEIS) to explore blockchain technology, according to an announcement published Oct. 8. The grant will purportedly help the U.K. telecoms regulator examine how blockchain can improve the management of landline telephone numbers. Established in 2016, the BEIS is a government department supported by 46 agencies and public bodies and responsible for business, industrial strategy, science, innovation, and energy and climate change policy. Per the announcement, Ofcom is…

Bitcoin Mining Profitability Declines Despite Increase in Revenue

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Bitcoin mining in 2018 hasn’t been as profitable as in 2017 despite an increase in overall revenue. With the network hashrate continuing to increase astronomically, miners now pay higher electricity tariffs severely affecting their bottom-lines. A Mixed Bag of Fortunes for Bitcoin Miners According to Diar, revenue accrued by BTC miners for the first half of 2018 exceeded the total revenue earned for all the whole of 2017. Adding the figures from Q3 2018, BTC mining revenue for the year now exceeds 2017’s numbers by more than $1.4 billion. Despite…

Ukrainian Ministry of Finance Creates Working Group to Develop Crypto Taxation

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The Ukrainian Ministry of Finance is creating a working group to discuss and develop a legal framework for crypto taxation, according to an Oct. 8 announcement on the ministry’s official website. The group will start its work beginning Oct.16 to identify crypto-related tax regulation options within the existing legal framework. The group of experts will also identify possible instances in which new or revised legislation is necessary. The findings of the group will be presented to the Expert Council for the preparation of common tax consultations by the end of…

Mobile SMS Bitcoin Cash Wallet Cointext Expands to Asia

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Hong Kong is the first country in Asia to officially be connected by Cointext, a service which enables anyone to send money to mobile phone numbers or Bitcoin Cash addresses without Internet, apps, or accounts. In addition to residents of the Chinese autonomous territory, Israelis and Palestinians also now have access to the service. Also Read: Binance Exchange to Replace Token Listing Fees With Donations Cointext Expands to Asia Cointext, a service which enables cryptocurrency users to transact directly over mobile SMS, has announced today that it launched support for…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 8

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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 total trade volume of the crypto market has plummeted. This shows that the current owners are not willing to sell at the current prices. At the same time, the potential investors who are sitting on the sidelines don’t believe that it’s the…

Binance, a16z-Backed Oasis Labs Launches Blockchain Startup Hub

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Blockchain cloud computing platform Oasis Labs announced a partnership with major names in crypto and venture capital to launch a blockchain tech hub called the Oasis Startup Hub, the firm announced at San Francisco Blockchain Week October 8. According to the company’s press release, the Oasis Startup Hub aims to create an ecosystem for blockchain developers, investors, technologists, and industry key-players to collaborate, as well as technical support from Oasis Labs engineers, and “early access” to Oasis latest technology disruptions. The new blockchain hub’s high-profile partners include Andreessen Horowitz’s crypto…

Crypto Markets Finally See Wave of Modest Growth After Period of Relative Stability

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Monday, Oct. 8: markets have taken a near-unanimous upturn, even as onlookers have been pointing to a period of uncharacteristically stable price action in the crypto sphere. Virtually all the top 100 cryptocurrencies are seeing solid growth on the day, as data from Coin360 shows. Market visualization by Coin360 Bitcoin (BTC) has seen a relatively strong boost, by press time growing almost 2 percent on the day to trade solidly above the $6,600 mark at $6,664. The breakthrough to a higher price point comes after several days of sideways trading,…

CNBC’s Ran Neuner Says ‘Bitcoin Is About to Explode,’ Points to Pending ETF Decision

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Crypto analyst and host of CNBC’s show Cryptotrader Ran Neuner has claimed that the price of Bitcoin (BTC) is “about to explode” in a recent tweet October 7. Neuner expressed his utmost confidence in an upcoming surge in Bitcoin’s price by noting “I just bought Bitcoin for my parents” in the same tweet. A notable rally would likely be tied to the U.S. Security and Exchange Commission’s (SEC) highly-anticipated upcoming decision on several Bitcoin Exchange-Traded Fund (ETF) applications, the trader claimed in another tweet posted the same day. Explaining his…

Can Clues to Bitcoin’s Earliest Mysteries Be Found in a Cryopreserved Brain?

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There has been some speculation over the years about whether the late software developer, Hal Finney, was actually Satoshi Nakamoto. Some people wonder if he had any connection to the 700,000 bitcoins mined back in the earliest days of the protocol. Finney was an Extropian, or a person who believes in the philosophy of futurism and life extension. In fact, the developer arranged to have himself cryopreserved in the hope that someday scientists might figure out a way to revive his brain and answer some of the questions surrounding Bitcoin’s…