Month: February 2018

Another country is planning to create its own cryptocurrency. The Republic of the Marshall Islands intends to issue the Sovereign, or SOV, to supplement the U.S. dollar as its  legal tender. Legislators for the Pacific island nation (2011 population: 53,158) passed the Declaration and Issuance of the Sovereign Currency Act 2018 on February 26th. “The purpose of this Act is to declare and issue a digital decentralized currency based on blockchain technology as legal tender of the Republic of Marshall Read more …

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. As covered by CCN, last year’s cryptocurrency mining ‘boom’ has led to a shortage in the GPU market. So much so that reports suggest using GPUs to mine cryptocurrencies is stopping us from finding aliens, as these are also used in observatories. New data shows crypto miners actually bought 3 million GPUs last year, worth roughly $776 million. This, according to a new report published by Jon Read more …

The Republic of the Marshall Islands (RMI), an island country located near the equator in the Pacific Ocean with a population of about 50,000, is poised to become the first sovereign nation to issue a cryptocurrency that will be legal tender. The new currency is called “Sovereign” with the symbol “SOV.” The SOV, which will be distributed to the public via an Initial Currency Offering (ICO), will circulate as legal tender in the country, alongside its current local currency, the Read more …

Porsche is currently testing in-car blockchain applications. The company announced that it will be the the first major carmaker to implement and successfully test blockchain technology in a car. “We can use blockchain to transfer data more quickly and securely, giving our customers more peace of mind in the future, whether they are charging, parking or need to give a third party, such as a parcel delivery agent, temporary access to the vehicle,” said Oliver Döring, Financial Strategist at Porsche. Read more …

A self-governing banking organization in Lithuania has issued a warning to domestic investors regarding the risks associated with cryptocurrencies. In a statement put out on Tuesday, the Lithuania Banking Association stated that, while cryptocurrency has recently gained significant attention, it still remains obscure to domestic investors. As such Lithuanian investors were advised to be cautious in dealing with digital assets. According to the statement: “Those who decide to invest in cryptocurrency must realize that they do so only at their Read more …

Europol and London’s Met Police are on to Monero, Zcash, and Dash, as the top cryptocurrencies for cybercrime, but there is not much they can do. Anonymous Cryptocurrencies Problematic for Europol As crime linked to cryptocurrency takes an increasingly high profile, police cryptocurrency experts are struggling with the cryptography behind a few of the digital coins on the market. Three of them to be precise: Monero, Zcash, and Dash. These three cryptocurrencies have extra privacy features that keep law enforcement Read more …

Jack Dorsey, CEO of San Francisco-based payment service Square, revealed the company’s plans to focus on developing increased options for Bitcoin (BTC) use in a conference call Tuesday, Feb. 27 with Market Watch. Dorsey, who is also the CEO of Twitter, specifically discussed the company’s Cash App, which now allows all users to buy and sell Bitcoin, telling Market Watch: “Bitcoin, for us, is not stopping at buying and selling. We do believe that this is a transformational technology for Read more …

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. ZClassic’s price has jumped 22.5% to $98.26 over a 24-hour period today, the date of a scheduled fork, giving it a $335,496,321 market valuation. The cryptocurrency has a circulating supply of 3,414,350 ZCL out of a maximum supply of 21 million ZCL. Source: Coinmarketcap.com ZClassic has traded 8,826 BTC ($93 million) in the last 24 hours, hitting a high above $120 on the day. Hard Fork Planned Read more …

Mining More than 3 million graphics cards have been sold to cryptocurrency miners in 2017, with sales reaching $776 million, a new report revealed. According to a major manufacturer, prices of GPUs will continue to increase in 2018, despite expectations of decreasing demand in the mining sector.   Also read: AMD Increases GPU Production to Match Crypto Mining Demand Rising Mining Costs to Slow Down Demand Over three million Graphics Processing Units (GPUs) have been sold to Read more …