Day: January 26, 2019

How Countries Have Been Classifying Crypto Across the World

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On Jan. 23, the United Kingdom’s Financial Conduct Authority’s (FCA), the domestic financial regulator, released a 50-page-long consultation paper dubbed “Guidance on Cryptoassets.” As the U.K. seems to be moving closer toward rolling out a definitive regulatory framework, it is time to reassess how other crypto markets, specifically the major ones, are dealing with cryptocurrencies on the juridical level. “Guidance on Cryptoassets,” reviewed: How the U.K. is going to deal with virtual currencies Given the tone of the new FCA paper, the U.K. government seems to be leaning toward a…

Apple Co-Founder Wozniak Turned 2,800% Profit On Bitcoin (BTC)

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Bought At $700, Solid At $20k — Apple Co-Founder’s Bitcoin Story In mid-2017, amid the near-peak of the most recent blockchain boom, Apple co-founder Steve Wozniak, not to be confused with the late Steve Jobs, divulged that he had purchased Bitcoin (BTC) at $700, quipping that he wanted to “experiment” with the asset and the decentralized economy/sector. While details were scant about Wozniak’s supposed experiments, the industry insider took to a public stage on Saturday to explain what has happened since he financially delved into this nascent sector. Wozniak, the current…

Bank’s Refusal to Release $1.2B of Venezuelan Gold Strengthens the Case for Bitcoin

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Op-Ed Venezuela’s economic crisis is impossible to ignore. President Nicolás Maduro’s attempt to withdraw $1.2 billion of the country’s own gold from the Bank of England (BoE) has been rejected. The notion of a sovereign state being denied access to its own wealth is a concept that’s hard for bitcoiners to countenance. One thing is certain: the case for storing wealth in censorship-resistant cryptocurrency is becoming stronger. Also Read: Venezuelan President Raises Petro’s Value Again in Bid to Create ‘New System’ How the Venezuelan Political Situation Escalated In order to understand the Bank…

Bitcoin Upstart Bread Cooks Up $15M Amid Crypto Winter

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ConsenSys, ShapeShift, Bitmain, and Huobi are among the notable crypto upstarts that have announced layoffs in recent weeks, citing bids to extend their financial runways. However, other Bitcoin-friendly companies have bolstered their war chests through other mediums, accentuating that venture investors haven’t shirked away from this budding sector. Far from, in fact. Related Reading: Legendary Venture Capitalist: “We’re Close to a Crypto Nuclear Winter” Crypto Firm Bread Scores $15M In Series B Round Per an exclusive report from crypto-friendly media portal TechCrunch, Bread, a cryptocurrency wallet provider that sold $6 million worth of…

Crypto Hacker Scores $28,600 After Hack Of Bitcoin Exchange

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Attacker Bags Eight Bitcoin (BTC) In LocalBitcoins Breach The crypto market may have slowed, with Bitcoin (BTC) falling by upwards of 70% during yesteryear, but ambitious attackers have continued their attempts to breach industry upstarts. Most recently, rumors arose that LocalBitcoins, a popular peer-to-peer, non-conventional exchange, had fallen victim to a security breach. Per a tweet from Francisco Memoria, a crypto journalist at CryptoGlobe, LocalBitcoins, one of the most popular upstarts in this sector’s history, has purportedly been comprised, with malicious actors netting a minimum of eight BTC, or ~$28,000…

EOS and TRON “Crushing it,” 235 DApps and $3.5B Volume

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Crypto-leaning VC firm co-founder Brock Pierce puts the spotlight on DApp-heavy blockchains EOS and TRON. | Source: Shutterstock By CCN.com: Brock Pierce, a co-founder of Blockchain Capital, a major venture capital firm that focuses on the crypto sector, has said that EOS and TRON are thriving based on the number of decentralized applications (DApps) and active users on the two smart contract blockchain protocols. In the past year, as alternatives to Ethereum (ETH), both EOS and TRON have focused on scalability to create a more efficient ecosystem for developers. EOS…

Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains

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Saturday, Jan. 26 — most of the top 20 cryptocurrencies are reporting slight gains on the day to press time. Bitcoin (BTC) is hovering over $3,600 again, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is seeing no significant price change on the day, trading at around $3,607, according to CoinMarketCap. Looking at its weekly chart, the current price is lower than $3,745, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap Ripple (XRP) has seen its value undergo little change in the…

2 Executives Are Leaving Blockchain Startup R3 in Management Shake-Up

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Distributed ledger technology provider R3 has carried out an extensive internal reorganization, resulting in the departure of two members of its management committee, CoinDesk has learned. Brian McNulty, a managing director and head of global services, and Lauren Carroll, chief administrative officer, are leaving the company, R3 told employees at town hall meetings Friday, according to people familiar with the situation. An R3 spokesperson confirmed the internal reorganization, which he said will include an expansive hiring program for 2019, but declined to comment on individual staff departures. Neither McNulty nor Carroll…

Blockchain is ‘No Better Than an Excel Spreadsheet’

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Nouriel Roubini, a notorious cryptocurrency critic, has stated that blockchain is “no better than an Excel spreadsheet” during a panel hosted by crypto exchange LaToken on Jan 25. Roubini is also known for having predicted the 2008 financial crisis, earning him the moniker of Dr. Doom. Speaking during a panel at the Blockchain Economic Forum in Davos, Roubini defined blockchain as “the most overhyped technology ever,” while noting that Bitcoin and other cryptocurrencies are the mother of all bubbles. He also pointed out during the talk that blockchain and crypto…

Double Down Your Bitcoin Security by Utilizing 2FA Services

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After obtaining your first bitcoins on an exchange, you’ll want to keep them safe, even if the funds are only sitting there temporarily. One way to keep your crypto secure online is by using two-factor authentication (2FA). Security is of utmost importance when it comes to storing cryptocurrency in an online wallet and 2FA adds another layer of protection over and above a strong password. Also read: Regulations Have Ruined the Physical Bitcoin Industry 2FA Is Essential The cryptocurrency community is all about advocating proper security techniques, and two-factor authentication (2FA) is…