cryptocurrency
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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
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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
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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
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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
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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
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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
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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
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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
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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
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Billon Is Making It Easy To Pay Your Favorite Twitch Streamers
Peer-to-peer payments are a big thing these days. I pay you, you pay me, and never the banks shall touch your cash. Billon, a Polish fintech company, is doing their own flavor of P2P by connecting Twitch streamers and other content creators with an audience that can easily tip them using a seamless system of payment. Founded by Andrzej Horoszczak, Maciek Luczak, and Robert Kaluza, the company… Read More
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The Co-Creator Of Dogecoin Talks About Building One Of The Funniest (And Most Popular) Cryptocurrencies In The World
Cryptocurrencies are much interesting. While bitcoin churns along like some sort of cyber juggernaut, there are a number of smaller currencies created, mostly off-the-cuff, by programmers and hackers. Dogecoin – pronounced dozhe, like the ancient Ventian dukes – is one of those currencies. Read More
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Google’s Jared Cohen: It’s “Obvious” Bitcoin-Like Currencies Are “Inevitable”
Google Director of Ideas and former technology advisor to former Secretary of State Hillary Clinton, Jared Cohen, says that digital “crypto-currencies” like Bitcoin are here to stay. “I think it’s very obvious to all of us that crypto-currencies are inevitable,” he told the audience at SXSW, in conversation with Chairman Eric Schmidt, to promote their… Read More
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As Auroracoin “Airdrop” Approaches, What Does It Mean When A Nation Adopts A Cryptocurrency?
Iceland has its own Satoshi. A programmer called Baldur Friggjar Odinsson has created an alternative to bitcoin that he is calling AuroraCoin and in twenty-three days he will “airdrop” 31.8 coins to every citizen of Iceland – all 330,000 of them. Read More
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Revel Systems Adds Native Bitcoin Transactions To Its POS Offering
Hey do you like Bitcoins? Yeah. I thought you might. Well you can use all those coins to buy things at stores running Revel Systems-powered point-of-sale terminals starting right now, as the company has rolled out native support for transactions made using the very much in-vogue cryptocurrency. Previously, Revel customers could accept Bitcoin transactions using third-party plugins, but now… Read More
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Nymi Armband Adds A Secure Bitcoin Wallet As One Of Its Killer Launch Apps
Toronto-based wearable startup Bionym’s Nymi band uses your ECG to securely identify you to various devices and services, and as of today there’s another trick up its sleeve – acting as a secure, easy to use Bitcoin wallet. The company revealed today that one of the launch applications that will ship with the Nymi will be a Bitcoin wallet, and that said wallet will provide a… Read More
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Bitcoin Clampdown Continues As Federal Judge Says It’s A Currency
Wikipedia calls Bitcoin a cryptocurrency (a currency that relies on cryptography), but now it’s official. A federal judge in Texas has declared that Bitcoin is a currency and should therefore be regulated just like U.S. dollars or gold. The ruling represents yet another attempt to regulate Bitcoin transactions, threatening the original purpose of the currency. While it looks like a… Read More
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