August 15, 2019

Malaysia’s Electric Utility Says Bitcoin Miners Stole $25M in Power

August 15, 2019 boss

Malaysian power utility firm Tenaga Nasional Bhd (TNB) is tightening measures in a bid to stem the millions lost to electricity theft by Bitcoin (BTC) miners. According to an Aug. 15 report from EdgeProp, tampered electricity distribution boards used in local Bitcoin mining operations have cost TNB RM106 million ($25.3 million) as of June 2019. There have been 437 cases of mining-related power theft in Peninsular Malaysia over this time period, 370 of which were recorded in the state of Selangor. Up to 3 years imprisonment TNB is the sole…

$3B Ponzi Scheme Is Now Allegedly Dumping Bitcoin by the Hundreds

August 15, 2019 boss

Amid a downturn in the cryptocurrency markets, the apparent swathe of Bitcoin sell-offs from a $3 billion Chinese Ponzi scheme could be to blame. On Aug. 14, Dovey Wan — founding partner of blockchain-based investment company Primitive Ventures — called attention to the ongoing mass sell-offs from the fraudulent Chinese investment scheme, dubbed PlusToken. 10 million investors scammed of $3 billion As Wan outlines, PlusToken was created in mid-2018 and promised high yield investment returns at different rebate percentages to its four tiers of member — a classic Ponzi scheme…

‘Time for Plan ₿,’ Says VanEck Exec as Negative Yield Bonds Hit 27%

August 15, 2019 boss

According to Deutsche Bank, 27% of global bonds traded are now negative yield, so expected to pay out less than their initial cost. Negative yield bonds dwarf Bitcoin market cap This represents $15 trillion worth of debt. Or as VanEck digital asset director, Gabor Gurbacs, commented Aug. 14, this is 75 times the total Bitcoin market cap. “It’s time for Plan ₿!” he adds. Whilst currently this phenomenon is limited to certain European countries and Japan, all eyes are on the U.S. Federal Reserve to see if it follows the…

PR: Australian Bitcoin Cash Conference Brings Cryptocurrency Leaders to Townsville

August 15, 2019 boss

Global leaders from the Bitcoin Cash community will gather at the first Bitcoin Cash City Conference in Australia, being held in Townsville on September 4 & 5. Townsville has really embraced Bitcoin Cash, so hosting this conference in the cozy, coastal suburb was a natural next step. Australia’s first gathering of enthusiasts and global business leaders will convene to use the low-cost, friction-less payment system and digital money, while enjoying the region’s temperate climate and many attractions. Bitcoin Cash has caught-on among merchants in Townsville, mostly because it enables anybody…

Samsung Cleverly Embraces Bitcoin as Rival Apple ‘Surpresses’ Crypto

August 15, 2019 boss

Samsung quietly added support for bitcoin in its blockchain-enabled smartphones. Rival Apple continues to surpress the technology. Source: Shutterstock By CCN Markets: South Korean conglomerate Samsung has added support for Bitcoin to its tenth series of blockchain-enabled smartphones. This was revealed in an update posted on its developer website. With the added support for the flagship cryptocurrency, Bitcoin now joins Ethereum and Klaytn as the other blockchain platforms integrated into the Blockchain Keystore. By adding Bitcoin support to high-end devices, is Samsung taking the war to the iPhone? A Samsung…

XRP Could Fall 20%, Says Trader Accusing Ripple of Manipulating Market

August 15, 2019 boss

Altcoin XRP has received fresh claims its price is artificially high as a well-known cryptocurrency trader warns of serious losses. Brandt: Ripple manipulated XRP for years In a series of tweets Aug. 14, Peter Brandt accused the issuer and largest holder of XRP tokens, Ripple, of price manipulation. XRP had dropped to its lowest level against Bitcoin (BTC) in over two years, while XRP/USD circled 11-month lows. For Brandt, however, even current levels of $0.26 are the result of manual intervention on the part of Ripple, and not natural market…

XRP Could Fall 20% Says Trader Accusing Ripple of Manipulating Market

August 15, 2019 boss

Bitcoin and Ether Market Update: August 15, 2019

August 15, 2019 boss

Total crypto market cap lost $40.7 billion of its value since Monday, August 12 and now stands at $258.2 billion. Top ten coins are all in red for the last 24 hours with most of them registering double-digit loses. EOS (EOS) and Litecoin (LTC) were the worst performers with 15.8 and 14 percent of loses respectively. At the time of writing bitcoin (BTC) is trading at $9,712 on the Bitstamp daily chart, while ether (ETH) dropped to $181 and Ripple’s XRP fell to $0.257. BTC/USD Bitcoin climbed up to $11,535…

Bitcoin Falls Below $10,000: Is It a Usual Correction?

August 15, 2019 boss

Bitcoin (BTC) price has been hovering around $10,000 since late June leaving traders and investors nervously watching for more potential loses. But now it has fallen below this level. Even though Bitcoin (BTC) was pretty much bullish last few weeks, overreaching $12,000 several times, the correction, as sad as it sounds, had to happen. The number one cryptocurrency last traded below $10,000 on July 31., and at the time of writing it fell 7.6% to $9,796.00. There are plenty of reasons for this cragged behavior. When the bulls are taking…

U.K. Advertising Authority Labels BitMEX Bitcoin Advert as Misleading

August 15, 2019 boss

As part of efforts to commemorate the 10th anniversary of the mining of Bitcoin’s genesis block, BitMEX placed an advert on the front page of a national newspaper in the U.K., showing the bitcoin price movement between January 2009 to January 2019. The two-page graph has attracted criticisms from four individuals who feel the feature is misleading and the nation’s Advertising Standards Authority (ASA) has taken sides with the complainants, according to a press release on August 14, 2019. BitMEX Incurs the Wrath of ASA As stated in a press…