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The Bank of International Settlements (BIS) has leased a chapter from its forthcoming annual report that delivers a critical appraisal of bitcoin and cryptocurrency. The report attacks virtual currencies from several main standpoints: claiming that cryptocurrencies do not effectively perform monetary functions due to price volatility, that the retail adoption of blockchain-based payment mechanisms would … Read more
Bithumb, South Korea’s largest crypto exchange announced on its website that between Tuesday evening and Wednesday morning, Korean time, 35 billion won (about 31.5 million USD) worth of cryptocurrencies vanished. Just a few hours later, the announcement was taken down, along with promises of compensation. At press time, it appears Twitter announcements of the heist … Read more
US Senate candidate Austin Petersen revealed his campaign received, and promptly returned, a giant amount of bitcoin this week, as the donation ran afoul of financing laws. Leading candidate for the Libertarian Party’s national chair, Joshua Smith, has made cryptocurrency a key part of his platform heading into the convention. Candidate for congress, coder Brian … Read more
Leading South Korean crypto exchange Bithumb, the world’s sixth largest, has been hacked Go to Source Powered by WPeMatico
Turkey’s so called “national” crypto, Turcoin, has turned out to be a classical example of a Ponzi scheme, local media reported. The founders of the “alternative” digital currency are believed to have fled the country with millions of dollars collected from defrauded investors. The company behind the Turkish token stopped distributing dividends earlier in June. … Read more
At press time, bitcoin is staying put at $6,700. The currency reached this “pinnacle” just 48 hours ago after rising to $6,500 from its recent low of $6,200. There isn’t a whole lot to be said about bitcoin, presently. Most sources and analysts are of the same sentiment – that the primary difficulties have been … Read more
South Korean cryptocurrency exchange Coinrail has unveiled its plan to resume service despite surrounding controversies. The exchange reportedly removed a key part of its terms of service right before it was allegedly hacked, arousing suspicions. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Service Could Resume Around July 15 South Korea’s seventh largest crypto … Read more
A Portuguese software developer has created ‘Poketoshi,’ a platform that allows users to play Nintendo’s popular Pokémon game on Bitcoin’s Lightning Network Go to Source Powered by WPeMatico
As we recently highlighted in our “Bitcoin in Crime” series, Bitcoin is increasingly considered to be a tool for illegal activity. Whether or not that situation will ever change is unknown. Nevertheless, there have been some positive – though largely overlooked – developments. Bitcoin Is Going Places Getting Bitcoin – or any other cryptocurrency – … Read more
Blue Line Futures president Bill Baruch says that Bitcoin’s volatility is now at its lowest level in over a year, signalling a likely bottom in the near-term Go to Source Powered by WPeMatico