Month: April 2019

Bitcoin History Part 11: The First Major Loss of Coins

boss

Since the very start, people have lost bitcoins due to human error. Mislaid wallets, forgotten passwords, broken hard drives, hacks, and scams have conspired to remove over 20% of all BTC from circulation by some estimates. The dubious accolade for the first major bitcoin loss goes to forum member Stone Man, who, on August 10, 2010, managed to permanently erase his access to almost 9,000 BTC. Also read: Bitcoin History Part 10: The 184 Billion BTC Bug A Stone Cold Lesson on the Need to Back up Your Keys In…

“Absolute Lowest” Bitcoin Will Reach Is $4,000, BTC To Soon Leave Current Levels “Forever”

boss

Bitcoin To Leave $4,000 Forever Is the bottom in? That the question that has been paining cryptocurrency investors for weeks and months now. According to popular analyst Moon Overlord, known for his astute noticings about long-term Bitcoin (BTC) cycles, this asset class may just have bottomed. He looks to historical trends, which show that after a capitulation event, BTC begins to trade in a slightly-sloped uptrend. In 2012, the uptrend was angled at 15 degrees, in 2015, 11 degrees. The fact that Bitcoin is currently holding an 11 degree uptrend,…

Number of Infected Electrum Bitcoin Wallets Reaches 152,000

boss

The number of infected Electrum bitcoin (BTC) wallets has reached 152,000 following an ongoing Denial-of-Service (DoS) attack on its servers. The development was reported by anti-malware software firm Malwarebytes in a blog post on April 29. Malwarebytes discovered that the number of infected machines in the botnet has amounted to as high as 152,000, with the volume of stolen funds increasing to $4.6 million. The company managed to pinpoint a loader dubbed Trojan.BeamWinHTTP, which is also involved in downloading the previously-detected Electrum DoSMiner. The largest concentration of the bots is…

Rakuten Taps Chinese Blockchain Firm for $60 Billion Authenticity Market

boss

By CCN: In 2008, at least 54,000 Chinese babies suffered after ingesting formula that had been contaminated. Demand for safe products has grown year over year, every year, since then. Companies like blockchain-centric Techrock have capitalized on this market by finding unique solutions to the authenticity problem. Techrock uses the blockchain to track every step of a product’s lifecycle and rewards consumers for verifying it through their mobile phones. Chinese Consumers Increasingly Willing to Pay a Premium for Authentic Imported Food In China, it is reportedly difficult to get authentic…

Aston Plaza | First Major Crypto-bought Real Estate on Hold

boss

A cryptocurrency venture under construction in Dubai has reportedly been put on hold. British Baroness and multi-million dollar crypto entrepreneur, Michelle Mone, had begun a real estate project called Aston Plaza, which broke ground in 2017. However, citing government inspectors to the site, the project has stopped at only 25% completion. Aston Plaza The $325 million project consisted of two complexes making up 1,300 luxury apartments. At least 150 of those were planned to be sold in Bitcoin. This was the first major development of this size to be available…

Fundstrat’s Tom Lee Predicts New All-Time Highs for Crypto by 2020

boss

Fundstrat Global Advisors founder Tom Lee has predicted that cryptocurrency prices will hit new historic highs by 2020. Lee delivered his comments during an interview with CNBC on April 28. In the interview, Lee forecasted that bitcoin (BTC) has not completed its upward movement and will likely reach new all-time highs around 2020 based on “11 signs that historically only take place in a bull market.” Lee thusly reiterated his previous prognosis made earlier this month, when he said that “a bull market is likely starting.” Lee explained that three…

Crypto Adoption | Russia Testing and Finland Regulating

boss

The crypto world has continued to grow each passing day, and the industry is closer to global crypto adoption judging from the events and developments of the last week of April. Crypto Adoption: Russia Opens Four Regions The Russian Federation has indicated that it is opening four regions in the country to test cryptocurrency. This is a significant milestone towards crypto adoption around the world. The Federation will test crypto innovations in regions that are not under the purview of the current regulations. A bill drafted by the Economy Ministry of…

Billionaire Remains Bitcoin-Drunk Despite Crypto Firm’s Insane $272M Loss

boss

By CCN.com: According to a Bloomberg report, billionaire investor Mike Novogratz’s Galaxy Digital Holding Ltd. lost more than $272 million in 2018 amidst an intense crypto bear market. From January to December 2018, the valuation of the crypto market dropped from $813 billion to $113 billion by 86 percent as the bitcoin price crashed from its peak at $20,000 to $3,150. Although the valuation of the crypto market has slightly recovered in Q1, it remains down substantially in the past year (source: coinmarketcap.com) Since December, within a five-month span, the…

Billionaire Remains Bitcoin-Drunk Despite Crypto Firm’s Insane $272M Loss

boss

By CCN.com: According to a Bloomberg report, billionaire investor Mike Novogratz’s Galaxy Digital Holding Ltd. lost more than $272 million in 2018 amidst an intense crypto bear market. From January to December 2018, the valuation of the crypto market dropped from $813 billion to $113 billion by 86 percent as the bitcoin price crashed from its peak at $20,000 to $3,150. Although the valuation of the crypto market has slightly recovered in Q1, it remains down substantially in the past year (source: coinmarketcap.com) Since December, within a five-month span, the…

Bitcoin (BTC) Under Pressure, Reversing Apr-25 Losses Critical

boss

Bitcoin prices may slide below $5,000 To protect investors, an Indian government official suggests banning of cryptocurrencies An Indian official believes cryptos including Bitcoin are Ponzi schemes that the country’s regulator should ban. That is despite the acceptance in Japan and other governments taxing the asset like any other commodity. Even so, Bitcoin (BTC) is under pressure and risk dropping below $5,000. Bitcoin Price Analysis Fundamentals Well, after last week’s debate about BitFinex, USDT and the NY OAG suing iFinex, exchanges are yet to recover. There is a premium of…