HODLers can play Santa this year by gifting their crypto bags to others on Bitcoin Tuesday, a play on the holiday drive known as Giving Tuesday. Source
Charities Put a Bitcoin Twist on Giving Tuesday
Day: November 27, 2019
Theranos Was ‘Uncannily Ethereum-Like,’ Says Bitcoin Pioneer Adam Back
Blockstream CEO Adam Back — inventor of the hashcash Proof-of-Work (PoW) system later used in Bitcoin’s (BTC) mining algorithm — has controversially compared Ethereum (ETH) with the now-defunct biotech startup Theranos. As part of a Twitter exchange published on Nov. 26, Back claimed that Ethereum’s allegedly overweening promises could be compared to the failures of Theranos. He argued: “Theranos had several generations of medical testing devices, and pushed their engineers extremely hard. The management just went too far into overselling what it could do and misrepresentation about the state of…
Crypto Exchange BitBay Follows FATF Rules and Ends Support for Monero
In an announcement released on Monday, the crypto exchange BitBay has affirmed that it will stop its support for the cryptocurrency Monero (XMR). The trading platform will stop its support on 19th February, 2020. Monero is a privacy-oriented digital coin. To keep up with the market standard, BitBay has decided to end its services for all cryptocurrencies that revolve around privacy. The decision was made to ensure that no money laundering activity takes place or there is no unidentified and illicit flow of funds from dubious external channels. BitBay is…
Bitcoin Dives Below $7K as Upbit Confirms $50M ‘Abnormal Withdrawal’
Bitcoin (BTC) fell below $7,000 once again on Nov. 27 as fresh selling pressure suddenly impacted already fragile markets. Cryptocurrency market daily overview. Source: Coin360 Likely exchange hack rocks BTC price Data from Coin360 showed BTC/USD suddenly dive back into the $6,000 range on Wednesday, having previously held ground around $7,200. At press time, a low of $6,860 saw a subsequent modest bounce higher, with Bitcoin still remaining below the $7,000 barrier. Bitcoin seven-day price chart. Source: Coin360 The performance coincided with emerging rumors of suspicious activity at major South…
Crypto Exchange Upbit Confirms Theft of $49M in Ether
In fact, more than $100 million worth of multiple cryptocurrencies have been sent out from Upbit today. However, the exchange said all other transactions, apart from the abnormal ethereum outflow, were the exchange moving cryptos from hot wallets to cold wallets to prevent their theft. Source
Crypto Exchange Upbit Confirms Theft of 342,000 Ether — $50M
Major South Korean cryptocurrency exchange — run by a subsidiary of Korean tech giant Kakao — has notified users of the theft of 342,000 Ether (ETH) from its hot wallet. The incident was confirmed in an official statement written by Lee Seok-woo, the CEO of Upbit’s operator, Dunamu, on Nov. 27. Upbit will use corporate funds to protect user assets In his statement, Lee Seok-woo revealed that: “At 1:06 PM on November 27, 2019, 342,000 ETH (approximately 58 billion won) were transferred from the Upbeat Ethereum Hot Wallet to an…
Litecoin Price (LTC) Remains In Downtrend, Bitcoin Holding $7K
Litecoin is started an upside correction from the $42.15 swing low against the US Dollar. The price is now trading above the $45.50 resistance, but it is well below $48.40 and $50.00. There is a major bearish trend line forming with resistance near $47.80 on the hourly chart of the LTC/USD pair (data feed from Kraken). Bitcoin price is currently trading in a range above the $7,000 and $6,950 support levels. Litecoin price is still in a downtrend below the $50.00 resistance against the US Dollar. LTC could only start…
Keep Calm and HODL On? 3 Reasons to Look Past Bitcoin’s Price Rout
Zooming out the lens a bit, there are at least three plausible reasons to think this sell-off may be just a hiccup for bitcoin. Source
ICO Deputy Commissioner appointed OECD working party chair
The ICO’s Steve Wood has been appointed as chair of the OECD’s Working Party on Data Governance and Privacy. The working party plays an important role in the OECD’s international work to bring policy makers together, inform future policy and develop international standards. The working group’s focus areas include: Supporting the OECD work, including reviewing recommendations on protecting children online, promoting digital transformation and monitoring the implementation of privacy guidelines, supported by government, industry and civil society experts. Considering measures to enhance access and sharing of data standards internationally. Studying…
Bitcoin Gives the World ‘Democratization of Savings’ — Misir Mahmudov
Bitcoin (BTC) can bring the world’s population out of debt thanks to its ability to allow consumers to save without permission. That was according to Misir Mahmudov, the author and operations associate at cryptocurrency hedge fund Adaptive Capital, in his latest advocacy of Bitcoin on Nov. 27. Mahmudov is the brother of Murad Mahmudov, the well-known Bitcoin proponent. Bitcoin will remove debt for “millions” Writing on social media, Mahmudov argued saving in BTC permitted anyone to bypass the barriers to traditional methods of saving such as stocks and real estate.…