Category: Cryptocurrency News

How Blockchain Could Help Airlines

admin

Airlines and airports are functioning on outdated methods of information collection and distribution, using many isolated operating systems where data exchange can be timely and unsecure — despite a reported 170 percent increase in the past 20 years of U.S. outbound trips abroad. Major competitors have recognized how the characteristics of the aviation industry align with blockchain, which has the potential to streamline data sharing among information silos in airports — and with ancillary travel enterprises more broadly — to Read more …

‘We Couldn’t Get Any Foreign Currency’ – Turkey’s Capital Controls Show Why Bitcoin Exists

admin

Turkey introducing capital controls to stem the impact of its currency crisis means traders can “expect” higher Bitcoin prices on local exchanges, a well-known online commentator has suggested. ‘Expect Price Premium’ Tweeting August 13, BambouClub eyed spreads on P2P platform Localbitcoins, forecasting buy and sell asks to increasingly diverge as the country’s economic situation worsens. “With capital controls being introduced in Turkey expect a black market for hard currency to develop which will be reflected in a premium in Bitcoin Read more …

5 Factors That Extinguished the Crypto Market in 2018

admin

Despite the price slump, one cryptocurrency company remains entirely bullish, identifying the reasons for the market’s weak performance YTD.  The entire cryptocurrency market has been in decline since the beginning of 2018. Peaking at almost $800 billion in January, the market capitalization currently stands at slightly upwards of $200 billion. However, Distributed Global, a financial company specializing in digital as well as blockchain-based assets, provided insights into current market woes and why it expects it to bounce back. What Comprises the Read more …

Why the Cryptocurrency Bubble is Reminiscent of Hodling Amazon Stock

admin

What a difference a few weeks can make. Just 21 days ago, the bitcoin price was trading above $8,400, riding what appeared to many to be the first wave of a new bull market. The bottom, the analysts said, was in. Now, midway through August, bitcoin is fighting just to hold above $6,000. The altcoin markets, meanwhile, have been pummeled to a pulp. The ethereum price is down 18 percent for the day and double that for the week, while Read more …

Nick Szabo: Bitcoin ETF ‘Might Cause More Problems Than It’s Worth’

admin

Nick Szabo says he is “not lobbying” for a Bitcoin exchange-traded fund (ETF) in fresh criticism of the phenomenon which many commentators claim would significantly boost prices. ‘Not Lobbying’ In a series of tweets August 12, the veteran cryptographer appeared risk-averse about an ETF gaining regulatory approval. “I for one am not lobbying for an ETF or for Wall Street-managed money in general. It might cause more problems than it’s worth,” he wrote. The recent sell-off by dumb money has Read more …

Coders Renew Efforts to Fork Mining Giant Bitmain Off Siacoin Blockchain

admin

New code is set to be released that would make obsolete the mining hardware designed by chip maker Bitmain for the decentralized storage protocol siacoin. Revealed in an email obtained by CoinDesk, Obelisk, a startup that aims to offer alternative mining equipment for the protocol, has proposed code would give those running the software the option to exclude Bitmain’s ASICs by changing the rules so the machines are no longer compatible. “This will give the sia community the ability to Read more …

Markets Update: Bloody Crypto-Markets Suffer More Losses

admin

Market Updates Leading up until this Tuesday a great majority of cryptocurrency markets have lost considerable value over the past few days. Since our last markets update this past Saturday, the overall cryptocurrency capitalization as a whole has dropped significantly by losing $20 billion USD. All eyes will surely be fixed on digital asset charts this week as there’s been a plague of bearish market sentiment cast over the entire crypto-economy. Also read: Coingeek Speaks on Consensus Changes and Next-Gen ASIC Read more …

Saudi Arabia Officials Warn that Bitcoin Trading is Illegal

admin

Despite the country’s proactive and seemingly positive approach towards blockchain-based technologies, cryptocurrency trading remains heavily outlawed, officials reiterate. Bitcoin and Other Cryptocurrencies Are Illegal A standing committee, headed by the Capital Market Authority in Saudi Arabia and including representatives of the Ministry of Trade and Investment, the Ministry of Information, and the Saudi Arabian Monetary Agency, issued a formal statement, reaffirming the illegality of trading with Bitcoin and other cryptocurrencies. The warning was released amid a range of websites and Read more …

42% Traffic Increase to Bitcoin.org as Lira Hurtles Downward

admin

As the Lira continues its decent, Bitcoin.org has experienced an influx of Turkish visitors. Many look towards the potential that crypto holds in light of toppling fiat currencies like the Lira.  On Monday, Twitter user @CobraBitcoin noted the flood of Turkish Bitcoin.org users— a towering 42%. The increasing number of users comes amidst national economic turmoil and a rapidly descending Lira: There’s been a MASSIVE 42% increase in visitors to https://t.co/OsFgRFRRZb from Istanbul as the Turkish Lira plummets. This is Read more …

ICOs Can ‘Prove Their Legitimacy’ Under New Crowdfunding Rules, Says EU Lawmaker

admin

The European Parliament’s Committee on Economic and Monetary Affairs is working on new crowdfunding regulations that could extend to some initial coin offerings (ICOs), according to a draft report published August 10. Ashley Fox, a British Member of the European Parliament (MEP), proposes bringing some ICOs within the remit of a new draft regulatory framework for crowdfunding that has been in development as of March. The report says that while the draft crowdfunding rules may not provide an outright solution Read more …

FlipNpik’s Social Media Model: Boosting Incentives for Local Promotions

admin

Launched in 2009, the social networking app Foursquare was hailed as providing a cutting-edge approach for users to share their location with friends. Called a “check-in,” people would reveal their location through their mobile device by selecting the venue they were frequenting at that time. The app grew immensely popular as users around the world accumulated points for spending time at their favorite retailers, restaurants, nightclubs, libraries or other venues. But the excitement around this movement soon abated as users Read more …

Crowdfunding Campaign Aims to Discover Where in the World the Real Satoshi Is

admin

Satoshi Nakamoto’s true identity has been a well-kept secret. Many are still on the hunt. A new crowdfunding campaign has been launched in order to hire detective agencies who will scour the globe in a public-funded search for Satoshi. The hunt for Satoshi Nakamoto still carries on. Over the past few years, a variety of online publications and individuals have hunted the trail of the person (or people) synonomous with Satoshi. There have been a number of theories about Satoshi’s Read more …