Poloniex Pledges to Reimburse Flash Crash Losses, Victims Displeased

When a financial system like the crypto market lacks liquidity, a crash becomes inevitable. This was the case at the margin trading marketplace hosted by U.S.-based crypto exchange Poloniex toward the end of May, when the value of a lesser-known crypto asset, CLAM, experienced a sudden, sharp crash. This resulted in the generalized loss of approximately 1,800 Bitcoins (BTC). In what is its second attempt to make things right, Poloniex has said recently that, beginning later in August, it will start recovering the losses of the margin traders. The exchange…

Ex-Morgan Stanley Exec Joins His Former Colleagues at Shenzhen Crypto Firm

Former Morgan Stanley Asia head of derivatives Jeffrey Wang officially joined Amber Group, a Shenzhen-based cryptocurrency company. As Bloomberg reported on Aug. 23, Wang will operate out of Vancouver as the head of Americas for Amber. According to the article, he previously worked at Morgan Stanley with four out of the five Amber’s founders, and two of them — Wayne Huo and Tony He — used to report directly to Wang. No rest for the crypto market This decision reportedly bought Wang back to work after taking the past three…

Can Blockchain Become an Integral Part of Autonomous Vehicles?

A decade ago, the thought of self-driving cars was far from reality, but with 2020 looming large, massive strides have been made in the field of autonomous vehicles. Meanwhile, in the space of a decade, Bitcoin has thrust cryptocurrencies and blockchain technology into the mainstream consciousness. The latter has become a tool that is quickly being integrated into the world of finance, governance, logistics as well as the motor industry. Some of the world’s leading automobile companies have been exploring the applications of blockchain technology and how it can be…

US Presidential Candidate Andrew Yang Calls for Blockchain Voting in 2020 Elections

The democratic presidential candidate who attempts to run for the high office of the President of the United States, Andrew Yang, stirred up the internet two days ago when he asked that blockchain voting should be employed in the upcoming presidential elections in 2020. Yang states on his website: “It’s ridiculous that in 2020 we are still standing in line for hours to vote in antiquated voting booths. It is 100% technically possible to have fraud-proof voting on our mobile phones today using the blockchain.” In Yang’s opinion, standing in…

Is Bitcoin’s Lightning Network Secure Enough to Use?

Is Bitcoin’s Lightning Network Secure Enough to Use? August 24, 2019 by Jeff Fawkes Bitcoin’s Lightning Network has been in development for several years now. But is it ready and secure for mainstream use? Let’s make a deep dive into what is currently going on in its development, and examine some ways it may affect users’ security in the future. Also read: New York Pursues Tether Case – What’s It All About? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Creating a Centralized Lightning Network Hub In…

Is Bitcoin’s Lightning Network Secure Enough to Use?

Is Bitcoin’s Lightning Network Secure Enough to Use? August 24, 2019 by Jeff Fawkes Bitcoin’s Lightning Network has been in development for several years now. But is it ready and secure for mainstream use? Let’s make a deep dive into what is currently going on in its development, and examine some ways it may affect users’ security in the future. Also read: New York Pursues Tether Case – What’s It All About? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Creating a Centralized Lightning Network Hub In…

Telx Technologies Launches First Crypto-Facilitating SIM Card

Cryptocurrency and telecommunications company Telx Technologies announced the launch of the first crypto SIM card wallet that enables transactions via SMS. According to the company’s Medium post published on Aug. 22, the card allows its users to send cryptocurrencies via SMS with their dedicated crypto phone number. Notably, these transactions do not require a smartphone or an active Internet connection. On the other hand, the system also offers no control over a user’s crypto wallet. Crypto transactions on ‘dumbphones’ As the crypto community tried to teach those new to the…

Bitcoin Hovers Around $10,130 as Altcoins Suffer Minor Losses

On Aug. 24, most of the top 20 cryptocurrencies are suffering moderate losses on the day while Bitcoin (BTC) hovers around the $10,130 mark. Market visualization courtesy of Coin360 Bitcoin price is currently down by 0.6% on the day, trading at around $10,130 at press time, according to Coin360. Bitcoin 7-day price chart. Source: Coin360 Ether (ETH) is holding onto its position as the largest altcoin by its market capitalization, which currently stands at $20.5 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $11.6 billion at press time.…

Binance Offers Lifetime VIP Membership to KYC Leak Victims

Major cryptocurrency exchange Binance announced that it will offer a lifetime VIP membership to all its users affected by the recent Know Your Customer (KYC) images leak on the platform. According to the official blog, currently Binance is “actively contacting all potential victims with […] guidance on privacy protection and restitution,” and highly recommends “affected users to apply for new identification documents in their respective region.” The post also states: “We are compensating affected users with a lifetime Binance VIP membership, including preferential trading fees, support, and more services.” When…

Bitcoin (BTC) Price Testing Last Line Of Defense With Positive Bias

Bitcoin price is showing positive signs and settled above $10,000 against the US Dollar. The price is now trading near the key $10,400 resistance area, which is preventing gains. Yesterday’s highlighted important bearish trend line is acting as a solid resistance near $10,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely setting up for the next key break either above $10,500 or below $10,250. Bitcoin price is trading with a positive bias above $10,200 against the US Dollar. However, BTC must surge…