cryptocurrency

  • Hacked Bitcoin exchange Bitfinex will reduce balances by 36% to distribute losses amongst all users

    Hacked Bitcoin exchange Bitfinex will reduce balances by 36% to distribute losses amongst all users

    Late last week we reported that Bitfinex, a popular Hong Kong-based Bitcoin exchange was hacked, losing about $70M worth of customer’s bitcoin. The loss caused the price of Bitcoin to drop about 20%, and it still hasn’t fully recovered to pre-hack levels. In the days following the hack little information was known about how it happened and how Bitfinex would reimburse affected… Read More

  • Bitcoin drops 20% after $70M worth of bitcoin was stolen from Bitfinex exchange

    Bitcoin drops 20% after $70M worth of bitcoin was stolen from Bitfinex exchange

    Bitfinex, one of the most popular cryptocurrency exchanges online, has suffered a major hack. The company has posted a note on its website detailing the security breach, and while it doesn’t mention a total amount, one of their employees confirmed on Reddit that the total amount stolen was 119,756 bitcoins. Read More

  • A Florida judge has ruled that Bitcoin isn’t money

    A Florida judge has ruled that Bitcoin isn’t money

    Ever since it moved into the mainstream Bitcoin has had a bit of an identity crisis. Mainly because no one is really sure whether it should be considered money or property. The IRS says it’s property for tax purposes, the Commodity Futures Trading Commission says it’s a commodity, and most Bitcoin advocates like to say it’s the world’s most advanced… Read More

  • Coinbase is adding support for Ethereum

    Coinbase is adding support for Ethereum

    Since Coinbase was founded in 2012, hundreds if not thousands of Bitcoin competitors (typically referred to as alt-coins) were created. But Coinbase ignored the noise and remained focused on supporting just one currency – Bitcoin. But today that changes, as Coinbase is announcing that they are adding site-wide support for Ethereum, a digital currency with a built in programming… Read More

  • The reward for mining Bitcoin was just cut in half

    The reward for mining Bitcoin was just cut in half

    It’s Halvening!!! Bitcoin just experienced a major milestone in its short little lifespan. The reward for mining a block (a block = a ledger of transaction data) was just cut in half from 25 bitcoins to 12.5 bitcoins. This means that assuming a price of $650 per coin, going forward miners will make ~$8,125 per block they mine, compared to $16,250 before the halving. But it’s ok! Read More

  • A brief history of cryptocurrency drama, or, what could possibly DAO wrong? Crunch Network

    A brief history of cryptocurrency drama, or, what could possibly DAO wrong?

    It makes SILICON VALLEY look like C-SPAN — and yet it’s a documentary. Yes, it’s Cryptocurrency!, the show! You already know it’s been the hit of the last half-decade in extreme-nerd, get-rich-quick, and/or libertarian-conspiracist circles. But the story so far may seem incredibly… well… cryptic. So if you’re just tuning in, here’s a timeline to catch… Read More

  • Bitcoin is being Bitcoin and spiking 30% this week and 200% this year

    Bitcoin is being Bitcoin and spiking 30% this week and 200% this year

    It feels like we only hear about Bitcoin when the price is either tanking or skyrocketing. And, since it’s currently skyrocketing, let’s talk about Bitcoin! As of writing, Bitcoin is hovering around $745 per coin. It has only been worth this much twice before – once on the way up to the height of the Christmas 2013 bubble, and once on the way down. But since trading at lows… Read More

  • Let’s Be Honest About The Problems With Blockchain And Finance Crunch Network

    Let’s Be Honest About The Problems With Blockchain And Finance

    Strange times we live in. The world’s biggest financial players and analysts are buzzing about an invention that became famous partly by promising to destroy them. In just a few months, blockchain went from the cause célèbre of crypto-anarchists and tech evangelists to the biggest idea in mainstream banking. Read More

  • Fintech Is Just Getting Started Crunch Network

    Fintech Is Just Getting Started

    In just the first week of trading in 2016, the S&P 500 lost 6 percentage points and more than one trillion dollars in market capitalization. With the worst start in more than a century, the markets seem to be predicting a slow period for the U.S. economy. One segment that I think has the potential to survive, if not thrive, in the expected volatility this year is financial technology. Read More