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In today’s edition of Bitcoin in Brief, your daily roundup of crypto news, we take a look at the best performing coins of the last 24 hours. Can they sustain their momentum, or is it a classic case of “Buy on the rumor, sell on the news?” Also read: Bitcoin in Brief Tuesday: Breakouts and Fakeouts […]
The post Bitcoin in Brief Wednesday: Buy the Rumor, Sell the News appeared first on Bitcoin News.
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There are a lot of conflicting opinions on the Verge cryptocurrency as of right now. This is not a big surprise, as the project has always been considered to be rather controversial. The network’s most recent “accidental fork” goes to show there is still a lot of work to be done before this project can be taken seriously. Verge Just Keeps Getting Better (Or Worse) For those who are unaware, the privacy-oriented Verge cryptocurrency either suffered a hack or an accidental fork earlier this week. It is believed that close to 250,000 XVG has been “misplaced”. Assuming this was a hack, close toPowered by WPeMatico
Bitcoin has taken a small tumble since yesterday’s figure of $6,800. At press time, the price has fallen by about $100 and bitcoin sits at just over $6,700. The fall may have occurred for several reasons, one being the recent hack of privacy-oriented cryptocurrency Verge. The attack was noticed by a bitcointalk.org user, who claimed that “several bugs” were used to infiltrate Verge’s code. The hacker than rewarded himself (or herself) with anywhere between $15,000 and $1 million worth of coins. Verge later tried to downplay the attack on Twitter, reporting that the problem had been removed and all wasPowered by WPeMatico
The past day for Verge (XVG) represents yet another fiasco for the highly controversial Dogecoin fork. Hackers have managed to mine an XVG block every second through a timestamp exploitation coupled with a 51% attack. To make matters worse, hasty developer responses have actually rendered the network even more incapable through an ineffective hard fork. Since yesterday, hackers have mined over 17,000 XVG blocks. This translates to over 20 million XVG, a bag worth over US$1 million. The developer has already asserted that these coins will not be reverted, blacklisted, or burnt, making the hack absolutely successful. The hack took placePowered by WPeMatico
Verge, a ”privacy coin” famed for the zealotry of its community, has fallen prey to a 51% attack. A malevolent miner gained majority control of the network hashrate, a feat that makes it possible for the controlling entity to modify transactions, calling the integrity of the entire blockchain into question. Around 250,000 verge were stolen […]
The post Verge Is Forced to Fork After Suffering a 51% Attack appeared first on Bitcoin News.
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2018 has been a tough year for cryptocurrencies. It all started so promisingly, as January broke with the promise of $3 ripple and, in tron, an altcoin that was up 14,000% in 30 days. Things swiftly went south from there, and have been sinking ever since. Judged by their all-time high (ATH), the following coins […]
The post These Are the Worst Performing Cryptocurrencies of 2018 – So Far appeared first on Bitcoin News.
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Privacy coins are meant to be private. That’s their raison d’être. Strip away the privacy, and they simply become altcoins, and dangerous ones at that, with the potential to deanonymize their users and expose their secrets. A number of recent reports have cast doubt on the privacy features offered by coins such as zcash and […]
The post Most Privacy Coins Aren’t That Private appeared first on Bitcoin News.
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All cryptocurrencies are suffering from another downturn as we speak. With the Bitcoin price dropping by over 5% in the past 24 hours, yesterday’s prediction came more than true. It does appear the Verge price is still bucking this negative trend, despite this somewhat shady partnership “crowdfunding campaign”. Verge Price is Surging for Some Reason A lot of people expressed their concern over the recent Verge “partnership” and the way the team went about things. By asking XVG holders to contribute nearly $2.75M in funds before the team would even unveil this “potential partnership:”, there were genuine concerns over thisPowered by WPeMatico
Partnership announcements have long been a tool for pumping altcoins and shilling ICOs. In fact, promoters are now interpreting the term so broadly that if they are using Word to write a whitepaper or Gmail to handle communications they might as well claim to be partners of Google and Microsoft. The most infamous example of […]
The post Misleading Cryptocurrency ”Partnership” Announcements Are Getting Ridiculous appeared first on Bitcoin News.
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There have been a lot of concerns regarding specific altcoins as of late. In the case of Verge, its recent publicity stunt is backfiring in quite spectacular fashion. It goes to show that good intentions can often result in criticism, mainly because the campaign’s overall approach leaves a lot to be desired. Stirring the Verge Hornet’s Nest To put all of this into perspective, the Verge team has tried to make a social campaign come to life. While that is not uncommon in the world of cryptocurrency, this particular approach raises a lot of questions which can’t be answered in a quick manner.Powered by WPeMatico