July 15, 2019

Spam Attack? Bitcoin Average Block Size Suddenly Spikes to Over 3MB

July 15, 2019 boss

Blockchain validation platform VeriBlock produced almost 25% of on-chain Bitcoin (BTC) transactions in 24 hours July 14, the company confirmed on social media. VeriBlock, which uses its own ‘Proof-of-Proof’ protocol to validate blockchains using Bitcoin’s computing power, launched its mainnet implementation in March. The service allows miners to compete for block rewards on altcoin blockchains, while tapping into Bitcoin’s superior levels of security due to the computing power sustaining its Proof-of-Work algorithm. The roughly one-quarter figure signalled by VeriBlock this weekend equates to around 68,000 transactions. Veriblock had previously generated…

Ethereum Price Nosedives 15% in Crypto Market’s $28 Billion Wipeout

July 15, 2019 boss

Overnight, within merely hours, the valuation of the crypto market dropped by $28 billion as major assets in the likes of Ethereum and Litecoin fell in the range of 11 to 15 percent. Analysts have largely attributed the correction to a technical move given the 200 percent year-to-date gain of bitcoin since January. Market largely oversold, can it recover? Global markets analyst Alex Krüger said on July 12 that while the medium to long term trend of bitcoin remains bullish, a drop in the price of bitcoin below $11,300, which…

Ethereum Price Nosedives 15% in Crypto Market’s $28 Billion Wipeout

July 15, 2019 boss

Bitcoin Price Slips Around $10,000 Levels in an Overall Crypto Market Slump

July 15, 2019 boss

Last week, the overall cryptocurrency market lost early $50 billion valuations with Bitcoin alone losing $25 billion and altcoins contributing the rest. On Sunday, July 14, Bitcoin price slipped below $10,000 levels but recovered back now trading at $10,320. After three months of a massive bull run since April 2019, Bitcoin investors have been resting in the first two weeks of July. Bitcoin (BTC) started the last week on a good note surging to $13,000 price levels in the first three days. However, the pullback was quite immediate and since…

Crypto Researcher: Trump Could Ban Bitcoin, But it’s Unlikely

July 15, 2019 boss

Donald Trump Name Drops Bitcoin In a three-part thread, Donald Trump lambasted cryptocurrencies, even setting his sights on Bitcoin. The American leader tried to dismantle the value proposition of not only decentralized cryptocurrencies — such as and namely Bitcoin — but Facebook’s Libra too. Trump quipped that he doesn’t believe that digital assets are money, adding that they are also known to be very volatile and “based on thin air”. The President went on to argue that cryptocurrencies can and do “facilitate unlawful behavior”, citing its use in the drug…

New US House Bill Would Fine Facebook’s Libra $1 Million Per Day

July 15, 2019 boss

A proposed bill to fine major tech firms such as Facebook $1 million per day if they issue cryptocurrencies is being circulated by Democrats, Reuters reports on July 15. Reuters cites a copy of draft legislation — reported on by Cointelegraph when it first surfaced online last week — and notes that it proposes to impose a $1 million fine daily upon any firm that violates its proposed rules. Per Reuters, the bill is being put forward for discussion by the Democratic majority leading the United States House Financial Services…

Bitcoin Price Hits $12K Resistance Hard, Repeats Old Patterns at a Lower Level

July 15, 2019 boss

Bitcoin Price Hits $12K Resistance Hard, Repeats Old Patterns at a Lower Level July 15, 2019 by Ramiro Burgos Well, that bull market rush is now a distant memory and some indicators now have the bitcoin price falling below $10,000 USD. Can you predict what could happen next by looking at the charts? Our weekly technical analysis can give you a better idea. Read on… Also read: Bitcoin Price Loses Strength Under $12K, but Expect More Volatility Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Bitcoin Price…

Bitcoin Lightning Nodes Claimed 2.22 BTC in ‘Justice’ Against Thieves: BitMEX

July 15, 2019 boss

Bitcoin (BTC) Lightning Network nodes have claimed 2.2 BTC in “justice transactions” to deter potential thieves, a BitMex Research analysis revealed on July 15. A so-dubbed “justice transaction” is a punitive mechanism involving the closure of a lightning channel that is suspected to be attempting theft. As the report outlines: “… by design, when a thief attempts to steal funds on the lightning network, if caught, they do not only lose the money they tried to steal, they lose all the funds in the relevant channel. This “punishment” is expected…

Bitcoin, Ether, and XRP Weekly Market Update: July 15, 2019

July 15, 2019 boss

The total crypto market cap lost $49.2 billion of its value over the last seven days and now stands at $278.2 billion. The top ten cryptocurrencies are all in the red for the same time frame with almost all of them registering double-digit losses. Bitcoin SV (BSV) and Bitcoin Cash (BCH) are the worst performers with losses of 39 and 30 percent, respectively. At the time of writing, bitcoin (BTC) is trading at $10,200 while ether (ETH) stands at $221, and Ripple’s XRP is at $0.311. BTC/USD Bitcoin closed the…

Hacked Crypto Exchange Bitpoint Discovers More Millions Are Missing

July 15, 2019 boss

After announcing a $30-million hack last week, Japan-based cryptocurrency exchange Bitpoint says it’s discovered that another $2.3 million is missing. A report from Japan Today on Monday said the extra losses were discovered at exchanges outside Japan that were using Bitpoint’s trading system and announced Sunday. The firm announced Friday that it had suffered a security breach arising in the loss of around 3.2 billion yen (almost $30 million) in cryptocurrencies. As a result, it halted all services including trading, deposits and withdrawals of all crypto assets. The platform’s parent company Remixpoint…