Day: August 9, 2019

Bitcoin Price Is Currently Sitting in Its Historic Top 2% Range

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Bitcoin has only spent 63 days in its history where it closed above current price.This was the factoid posted by crypto-analyst Ceteris Paribus on Aug. 6, along with comparative data for selected altcoins.  Which goes to show that despite unwarranted concerns from those who feel that BTC price should constantly be parabolic, Bitcoin is in rather rude health. Certainly when it comes to dominating alts. 2 months of mayhem vs. a steady climb Bitcoin has existed for 3870 days (3867 at the time of the tweet). So if only 63…

Litecoin Trumps Bitcoin in SegWit Adoption

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SegWit or ‘segregated witness’, is a protocol that reduces the size of transactions and allows for improved malleability of Bitcoin. Adoption of this protocol has surged on Litecoin ahead of Bitcoin, and Charlie Lee believes its success of Litecoin has been a key driver for adoption of SegWit on Bitcoin. In a fairly detailed research piece, August 8, 2019, LongHash dives into the intricacies that cause this anomaly.  The Strength of Litecoin or Weakness of Bitcoin? There are two theories that immediately come to mind while looking at this research: either…

ICO launches consultation on the draft framework code of practice for the use of personal data in political campaigning

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The Information Commissioner’s Office (ICO) is consulting on a new framework code of practice for the use of personal data in political campaigning. The framework code will serve both as helpful guidance in its own right as well as having the potential to become a statutory code of practice if the relevant legislation is introduced. The framework code does not introduce new requirements for campaigners but seeks to explain and clarify data protection and electronic marketing laws as they already stand. It also seeks to provide practical guidance and useful…

Fidelity Walks into Blockstream’s New Bitcoin Mining Farm

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mining crypto

Blockstream unveiled its newest 300 megawatts bitcoin mining farm expected to add almost six exhashes for every second to Bitcoin network’s computing power and Fidelity comes in among the early customers. Blockstream, a blockchain technology company, announced details of its Bitcoin mining services. On August 8, the company published a blog post where it revealed two large data centers for enterprise-class co-location services. It also introduced the Blockstream Pool. All of these services will be provided using the BetterHash protocol. Blockstream pool is an outcome of a one-year testnet. And…

Bitcoin History Part 14: The 1,000 BTC Poker Game

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Bitcoin and poker have a history that stretches back to the very start. Perhaps, even, to before the start of Bitcoin as we know it, for there is evidence that Satoshi had a background in poker. What’s beyond dispute is that in March 2010, the world’s first bitcoin poker tournament took place, with the nascent digital currency serving as the unit of account. The buy in was set at 50 BTC, with the victor walking away with the then-worthless prize of 1,000 BTC. Also read: Bitcoin History Part 13: The…

Retail Giant Overstock Reports Losses, Says Blockchain Business Strong

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Retail giant Overstock has released its Q2 2019 financial results, revealing a 23% decrease in revenue and a 19% loss in gross profit. In a shareholder announcement published on Aug. 8, Overstock stated that its blockchain subsidiary firm, tZERO, is progressing as planned, with a focus on six key areas — notably security tokens. No pain no gain While the fresh results point to a decrease by most metrics, Overstock has returned to a positive adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the first time since Q2…

Bitcoin in Tug of War Between Bulls and Bears as Trading Range Tightens

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View Bitcoin has charted a narrowing price range over the last three days, neutralizing the immediate bullish setup. A bull revival needs a UTC close above Wednesday’s high of $12,145, according to a double inside bar pattern seen on the daily chart. The outlook would turn bearish if prices print a UTC close below Wednesday’s low of $11,388. The odds of a bearish UTC close would rise if BTC breaks lower from the contracting triangle seen on the intraday charts. Bitcoin (BTC) is witnessing indecisive price action for the third…

Coinbase Says It Prevented a Crafty Phishing Attack to Exfiltrate Keys

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The security team at cryptocurrency exchange Coinbase has revealed how it countered a sophisticated phishing attack aiming to exfiltrate private keys and passwords.  In a blog post published on Aug. 8, the exchange outlined its discovery and reporting of the incident, which involved the exploitation of two 0-day vulnerabilities on Mozilla’s web browser Firefox. A “highly-targeted and thought-out” attack The first steps of the phishing scam, Coinbase reveals, date back to late May of this year, when over a dozen exchange employees received an email from an innocuous-seeming University of…

No-Deal Brexit Will Reposition Bitcoin in the Global Economy: Analyst

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Some analysts believe that the looming no-deal Brexit will push Bitcoin (BTC) price to an unprecedented breakout and record highs in 2019.  Nicholas Gregory, CEO of blockchain firm CommerceBlock, even predicts it could fundamentally shift Bitcoin’s place in the global economy, as reported by the Independent, Aug. 9. Brexit already causing market turmoil The prospect of a no-deal Brexit has already caused the pound sterling to lose value against other major currencies. Increasingly so, since the appointment of confirmed Brexiteer, Boris Johnson, as U.K. Prime Minister. Johnson has vowed that…

Moneygram Using XRP a Bigger Deal Than Facebook’s Libra

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Ripple CEO Brad Garlinghouse says the firm is looking into multiple investments and acquisitions following its $30 million partnership with MoneyGram this June. As Yahoo! Finance reported on Aug. 9, Ripple’s deal with MoneyGram — the second-largest remittances firm worldwide — saw it purchase a 10% stake in the entity, with an option to increase its investment by a further $20 million within two years.  Moneygram starts using xRapid MoneyGram began using Ripple’s xRapid liquidity product on Aug. 3 — a central stipulation of the $30 million deal — as…