Day: January 6, 2019

US Feds Raid Tech Hub for Unauthorized Crypto Trading: Report

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United States federal agencies reportedly raided the office of a Michigan-based science and tech center last month during a crypto-related investigation, local news outlet Wood-TV reported Jan. 5. As Wood-TV reported, Chris Boden, the founder of The Geek Group, made a live public statement on YouTube Saturday night, which has evidently since been deleted. Boden reportedly claimed the office of his tech-oriented, non-profit organization had been raided by members of the U.S. Federal Bureau of Investigation (FBI) and the Department of Homeland Security (DHS) on Dec. 21, elaborating that computers…

Crypto Analyst Expects Bear Trend As Bitcoin (BTC) Surges

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Bitcoin Fundamentals Hinting At Bear Trend Willy Woo, a leading Australian crypto researcher, analyst, and commentator, recently took to his well-followed Twitter feed to convey his latest bit of Bitcoin (BTC)-related analysis. According to his proprietary network indicators, which many argue are better than pure technicals, “there’s not a lot of on-chain volumes to fuel a prolonged move [to the upside].” He then went on to note that the influx of traded BTC could be chalked up to market volatility, which pushed investors to send their holdings to exchanges to capitalize/liquidate.…

Overstock.com to Become First Major Firm to Pay Taxes in Bitcoin

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Online retailer Overstock.com (NASDAQ:OSTK) announced that it will pay a portion of its Ohio state business taxes in Bitcoin (BTC-USD), starting from this year. By paying taxes in Bitcoin, Overstock will be become the first major U.S. company to use Bitcoin for tax payment purpoases. Overstock Bitcoin Tax Payment The retailer will pay its commercial activity taxes in Ohio this February using OhioCrypto.com, which allows taxpayers to pay state business taxes with Bitcoin. Ohio is the first U.S. state to offer a cryptocurrency payment system for state business taxes. “We…

Bitcoin rockets above $4,000 as positive newsflow encourages bulls

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A convergence of bullish news flow has helped to lift bitcoin back above $4,000. On Bitfinex, where the price tends to trade at a premium partly because of the heavy margin trading at the venue, the BTC price has hit $4,178, jumping $250 in short order, for a 7% gain. On Coinmarketcap 24-hour trading volumes in BTCUSD stands at a healthy $5.5 billion. Burniske’s call Chris Burniske from VC firm placeholder tweeted yesterday that the mainstream had forgotten about bitcoin but he took that as a good sign. Explaining his…

Bitcoin Fees Hit 3-Year Low as Lightning Network, SegWit Help BTC Scale

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Bitcoin’s transaction fees have recently hit a low they hadn’t seen in over three years, as according to BitInfoCharts the median transaction fee on the flagship cryptocurrency’s network is just $0.029. As pointed out by cryptocurrency community researcher Kevin Rooke on Twitter, the Bitcoin network hadn’t had fees this low since October 2015, when it was trading at about $270. Bitcoin tx fees just hit their lowest level in over 3 years! Jan 1, 2019:Median Bitcoin tx fee = $0.02Total transactions = 234,576 Oct 13, 2015:Median Bitcoin tx fee =…

Law Enforcement Inquiries Sent to Kraken Nearly Tripled in 2018

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Cryptocurrency exchange Kraken has received nearly three times more law enforcement inquiries in 2018 than in 2017, the exhange reported in a tweet Jan. 5. According to data displayed in the weet, in 2018 the exchange received 475 law enforcement inquiries from global government agencies, while in 2017 there had been only 160. Still, 2017 numbers were already considerably higher than the previous year, when there were only 71 inquires. Annual Law Enforcement Inquiries Received by Kraken – Source: Kraken tweet The tweet further highlighted the prevalence of United States…

Singapore Bitcoin Exchange BiteBTC.com Claims Data Center Fire on Proof of Keys Day: Exit Scam?

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A bitcoin exchange in Singapore reported on January 3 that on New Year’s Day their data center experienced a “fire.” Fears of an exit scam began to mount. According to them, this fire results in 7% of users losing access to their accounts. The events coincided with the first annual Proof of Keys event. BiteBTC.com wrote on January 3: On January 1, 2019, a fire occurred in the data center where the exchange servers are located, as a result of which part of the data on the main and backup…

Bitcoin News Crypto Currency Weekend Roundup January 6

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Here is what happened in the cryptocurrency market over the weekend. SEE: ACCIONA Uses Blockchain to Trace Renewable Electricity Generation SEE: Canadian Crypto Exchange Coinsquare Launches into European Union In the News IBM (NYSE: IBM) CEO Ginni Rometty will deliver the opening keynote address at CES 2019 on Tuesday, Jan. 8 on what is next in artificial intelligence, blockchain and quantum computing. Rometty will show how technologies like artificial intelligence, blockchain and cloud are reshaping the world of business, and, in turn, our daily lives. She also will talk about…

Can Binance Launchpad Resurrect the ICO Market?

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Can Binance Launchpad Resurrect the ICO Market? January 6, 2019 by Paul de Havilland Binance’s recent efforts to breathe life into the crumbling ICO market with Binance Launchpad are admirable, but will they be able to resuscitate the ICO market? Many list ICO mania and the subsequent token collapse as at least partially responsible for the price meltdown 2018 bore witness to. Also read: Paper Outlines Proof-of-Stake Sidechains for Cardano Ouroboros, Beyond Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Binance Not Taking a Step Backward in Propelling…