Day: July 15, 2019

South Korea’s Biggest Credit Card Patents Blockchain Payments System

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South Korea’s leading credit card firm Shinhan Card has been granted a patent for a blockchain payments system, English-language local media The Korea Times reports on July 15. Per the report, with the newly patented technology the company has established a blockchain-powered credit transaction process allowing for setting spending limits, paying in monthly installments and carrying out payments. The outlet quotes an anonymous Shinhan Card official commenting on the development: “Services using those key functions of credit cards will be extended to the blockchain-based system, a notable advancement from the…

Hacked Crypto Exchange Reveals New $2.3 Million Theft, $35 Million Total

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After losing about ¥3 billion ($32 million) to cyber criminals last week, it now appears that hackers not only targeted the Japanese operations of Bitpoint but also other overseas exchanges running the firm’s cryptocurrency trading system. According to The Japan Times, cryptocurrencies worth $2.3 million were stolen in an earlier attack which targeted Bitpoint’s subsidiaries. The Japanese cryptocurrency exchange did not, however, disclose which subsidiary or subsidiaries were affected. Currently, Bitpoint Japan operates subsidiaries in Asia, South America and North America. Some of these subsidiaries are BITPoint Malaysia, BITPoint Hong…

John McAfee Doubles Down on $1M 2020 Price Prediction for Bitcoin

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American entrepreneur and vocal crypto advocate John McAfee has doubled down on his $1 million by 2020 prediction for Bitcoin (BTC). Taking stock of community sentiment in light of Bitcoin’s recent price fluctuations, McAfee wrote on July 15 that he was “laughing his f—— ass off” at the seemingly overblown negativity: “Bitcoin is at the mid 10’s and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It’s rising drastically. I’m still positive about my $1 mil BTC price by the…

Ethereum Falls by 20% as Bitcoin Taps $10,000, Is There Hope for ETH?

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Ouch, Ethereum (ETH) isn’t looking too hot. In the past 24 hours, the cryptocurrency has lost 20%, while Bitcoin (BTC) has shed a relatively mere 10% in the same time frame. According to Three Arrows Capital’s Su Zhu, Monday’s performance was the “top single-day downward move” for Ethereum since January 1st of 2017 — youch. As of the time of writing this, ETH is changing hands for $220 — a level not seen since June. Against Bitcoin, ETH has fallen to 0.022 — the lowest this pair has traded at…

4-Figure BTC Screams ‘Buy’ as Bitcoin Price Falls Under $10,000

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The Bitcoin price collapsed below $10,000 on Sunday night in yet another stormy weekend session for the world’s largest cryptocurrency. Bitcoin briefly hit $9909 on Coinbase, marking an 13 percent drop in 24 hours. The fall cements a strong 28 percent retracement from this year’s high. Technical indicators suggest BTC may still have room to fall in the short-term. In the long-term, however, this may be one of the last times we ever see bitcoin below $10,000. Said it once and will say it again 4 digit Bitcoin is a…

4-Figure BTC Screams ‘Buy’ as Bitcoin Price Falls Under $10,000

boss

The Bitcoin price collapsed below $10,000 on Sunday night in yet another stormy weekend session for the world’s largest cryptocurrency. Bitcoin briefly hit $9909 on Coinbase, marking an 13 percent drop in 24 hours. The fall cements a strong 28 percent retracement from this year’s high. Technical indicators suggest BTC may still have room to fall in the short-term. In the long-term, however, this may be one of the last times we ever see bitcoin below $10,000. Said it once and will say it again 4 digit Bitcoin is a…

New York City College Struck by Ransomware, $1.9 Million in Bitcoin Demanded

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Munroe College in Manhattan has been hit by a ransomware attack that has shut down the college’s computer systems. The hackers are demanding 170 bitcoin (BTC), which is roughly $1.9 million. The malware infection came to light on the morning of July 10, but the specifications of the infection are still largely unknown, as reported by Bleeping Computer, July 12, 2019. College Network Shutdown At 2:45 AM PST, Monroe College’s entire computer network was shut down by an unknown ransomware, with hackers demanding they pay 170 BTC to restore their…

Leaked Draft Bill Would Ban All Crypto Except ‘Digital Rupee’

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Draft legislation that would allegedly impose a ban on the use of cryptocurrencies in India is being circulated by local blockchain legal experts on social media. An unverified document published to Scribd by tech lawyer Varun Sethi on July 15 appears to reveal a draft bill entitled “Banning of Cryptocurrency & Regulation of Official Digital Currencies.” Even if authentic, the bill will not allegedly be debated during the 2019 Monsoon session of the Indian parliament, according to one local crypto industry figure. Running at 18 pages, the document proposes a…

CZ Binance: Retail Investors are Steering The Crypto Price Rally

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Contrary to popular belief, retail investors are still playing a major role in directing Bitcoin’s price action, thinks Binance CEO ChangPeng Zhao. He states that this growth is partly due to increased margin trading availability. This year’s crypto rally is most certainly proponed by the arrival of big institutions and tech companies as are Facebook, JPMorgan or Amazon. However, Changpeng Zhao, the CEO of Binance, the world’s largest online exchange thinks that individual investors are still playing a key role in driving the dramatic price booms. He said that institutions…

PR: Cred and Bitcoin.com Join Forces to Boost Crypto Lending

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By John YearwoodCred Correspondent Amid a dramatic Bitcoin bull run, two of the most influential names in the blockchain finance industry have launched a platform to expand global lending and earning on investments in cryptocurrency. The partnership between Bitcoin.com and Cred allows Bitcoin.com customers to earn up to 10 percent interest on Bitcoin and six percent on Bitcoin Cash invested with Cred, the companies said. Customers with investments over $25,000 have been benefiting from the partnership for the last few months but it opens to all users, regardless of investment…