Canadian Bank Announces Digital Safety Deposit Box for Crypto Exchanges and Investment Funds

VersaBank, formerly Pacific & Western Bank of Canada, announced one of its subsidiaries has completed beta testing for its digital safety deposit box and is now entering the commercialization phase, which will include the offering of digital safe keeping as well as multi signature services for cryptocurrency exchanges and crypto-based investment funds. Canadian VersaBank Announces Digital Safety Deposit Box for Cryptocurrency Holdings The testing phase of the company’s digital safety deposit box was conducted to ensure the product’s design would meet the specific requirements of cryptocurrency exchanges and crypto funds. Target clients…

Ethereum GPU Mining Profitability Has Declined Dramatically: New Research

Twitter Facebook LinkedIn New data released by global trading and technology firm Susquehanna has revealed that the profit per month earned for mining Ethereum using a GPU mining rig has fallen as far as zero in November, down from about $150 in summer 2017. The data indicates that in addition to the dominance of more efficient ASIC miners which dominate the Proof-of-Work mining market, GPU mining of ethereum and other cryptocurrencies is suffering from the prolonged crypto market downturn. Impact of Downturn In August, CCN reported that Nvidia wound up its cryptocurrency…

Crypto Crime: Tokyo Fuzz Arrest Eight In $68M Bitcoin Pyramid Scheme

$68.42 Million Stolen In Bitcoin Scheme Since Bitcoin’s inception, a mere decade ago, malicious users of the world’s first blockchain have sought to capitalize on the pseudonymous and anti-governmental nature of the Bitcoin Network and other crypto platforms. And although governments have begun to crack down on this innovation, crypto-related schemes and scams are still rife in the dark corners of this industry. The Asahi Shimbun, an Asian media outlet, recently reported that a number of men were arrested for their affiliation with a purported crypto-centric pyramid scheme. More specifically,…

Competing Bitcoin Cash Forks Show Differing Outcomes; Miners Support SV while Traders Side with ABC

Ahead of Bitcoin Cash’s (BCH) impending fork on November 15, 2018, miners maintaining the network may be taking two different paths for the protocol if data from Coin Dance is considered. Competition in Decentralization The two teams, Bitcoin ABC and Bitcoin SV, led by Bitcoin Cash proponent Roger Ver and CoinGeek CEO Calvin Ayre respectively, are engaged in a fierce battle of hashpower to ensure their protocols make the cut. Data suggests Bitcoin SV miners control a staggering 76 percent of the network’s current mining power, with backers such as…

Nearly 1% of All Ethereum is Locked in the MakerDAO Smart Contract

Twitter Facebook LinkedIn MKR.tools creator Mike McDonald raised a celebratory alarm on Twitter yesterday morning. According to the Ethereum blockchain, about 1 million ether  – or almost 1 percent of the total Ethereum supply – is presently locked in MakerDAO smart contracts. There is now 1,000,000 ETH locked in @MakerDAO smart contracts as of this morning 🎉. A slight rounding error away from 1% of the total ETH supply. pic.twitter.com/0ePQv6mWKm — Mike McDonald (@mikeraymcdonald) November 13, 2018 MakerDAO is the project behind Dai, a second-generation stablecoin offering which very carefully…

Crypto Markets Bloody day, Bitcoin dropped 15%, markets lost 20B

Bitcoin tumbled below $6,000 for the first time since August and reached its lowest level in over a year, breaking the recent stretch of tranquility exhibited by the notoriously volatile digital alternative to cash. The world’s largest cryptocurrency tumbled as much as 15 percent, with most of the initial loss coming within a half hour window. It’s the biggest drop since February. Other digital coins slumped, with smaller rivals Ether, Litecoin and XRP dropping more than 17 percent. Bitcoin Cash tumbled as much as 21 percent as the Bitcoin offshoot…

Here is why crypto investors should consider buying the dip immediately

The crypto market seems to be sinking faster than the Titanic. In a few hours, the market has lost over $20 billion in market capitalization. It is hard to find a single crypto coin that isn’t experiencing a double-digit loss. Bitcoin has already lost over $800 in a few hours. It’s currently trading at $5,589, which represents a -12 percent loss. The same applies to the rest of the altcoins with many averaging losses of between 10 to 20 percent in the past few hours. Even though the situation doesn’t…

Humans vs Uber: Will Blockchain Help?

Uber managed to gain a remarkable market share in the transport industry by implementing a simple but powerful idea. The company didn’t invest in a technology from scratch, but selected an industry with great demand and built an ecosystem with a broader supply chain. Uber realized that the difference of quality and cost expectation assurance to be competitive depending on the market dynamics.   Many believe that Uber’s surge-price algorithm which adjusts fare price according to demand is a brilliant example of supply and demand at work. It could possibly…

Bitcoin (BTC) Crash! Price Plummets to One-Year Low as Cryptocurrency Market Sees Red

Bitcoin (BTC) fell by more than 11 percent on Wednesday to reach its lowest level since October 2017. This sudden fall comes after months of contracting volatility leading to a prolonged period of sideways trading and stability. Presently, numerous theories are circulating as to why the top-ranked cryptocurrency has taken such a nosedive. Bitcoin “Death Candle” Looking at the chart below, one can easily make out the massive “death candle” that took the price of Bitcoin all the way down to $5,600. This is the second time that the top-ranked…