Bitcoins

$1.2Billion Worth Of Cryptocurrencies Have Been Stolen By Hackers

It has been reported that more than 14 percent of the Bitcoin and Ether supply have been compromised. Unfortunately this happens all too regularly, and in less than a decade, hackers have stolen $1.2Billon worth of Bitcoin and Ether. Lex Sokolin, who is the global director of Autonomous Research LLP, said; “It looks like crypto hacking is a $200million annual revenue industry.” So, why does hacking happen. Cryptocurrencies work on a blockchain technology, and once these records are shared, it is incredibly hard to alter them, leaving many to believe that they are actually super-secure; but, in reality, they are no safer than any other software, and are often left open to the risk of hacking. They can track your identity, property records, and digital car keys, having the potential to affec...

Here’s Why The Crypto Crash Happened…

The crypto world has not had a good couple of weeks. Even though the prices are on the rise now, in just ten days, cryptocurrencies lost $370billion. We take a look at the reasons behind this loss, and whether it can be prevented in the future. South Korea: The South Korean government intends to crack down on the trading of cryptocurrencies. As well as clamping down on crypto trading, they have also expressed a wish to add taxes these, among other measures to tighten the grip on the market that has a lot of doubt. There are some who see the trading of crypto currencies, as a way of supporting money laundering and dangerous speculative investing. South Korea accounts for one fifth of the trading of cryptocurrencies, so this crackdown would have made a massive difference. Russia: The Russian...

Bitcoin Accepted As A Church Offering

The number of potential uses for Bitcoin keeps on rising, as a Swiss church has announced its intention to accept donations in Bitcoin. Local media has featured interviews with Nicolas Legler, spokesperson for Zurich’s ICF Church, who has put his faith in the high flying cryptocurrency amid widespread fears that the commodity’s meteoric rise bears all the hallmarks of a bubble. Previously a relative novelty, the online currency which uses blockchain to share digital information without it being copied had for years been used primarily by tech enthusiasts, national governments and people who value its ability to pay anonymously. However, since early 2017 the currency has experienced a massive spike in its value – rising to as much as $13,000 a coin before dropping back to $12,00...

How You Can Keep Your Bitcoins Safe

Bitcoin has had quite the year already, but one problem that a lot of investors find once they purchased Bitcoins is how they will keep them safe and secure. One main concern with Bitcoin is that it is unregulated. Another is security. Cryptocurrencies are often the victims of hackers, and in some instances, this has resulted in both investors losing millions of dollars, and exchanges getting shut down. There are ways that you can help to keep your Bitcoins safe, with the most obvious being, to put your digital money into a wallet. Bitcoin wallets are simply digital wallets, with two keys – one public and one private. A public key is an address which is needed when one wants to send Bitcoins to you, and a private key is an address which is necessary in order for you to spend Bitcoins much ...

What An Actual Crypto Crash Would Look Like

Recent growth in the cryptocurrency markets has caused many to speculate that the sector currently exists in the middle of a bubble and people are understandably worried. With the notorious dotcom crash and the resultant severity of the financial crisis that it spawned still raw in the memories of many investors, fears are rife that the popping of this particular bubble could prove disastrous for the world economy. Putting aside the ways and means in which the Bitcoin bubble might conceivably burst (and rest assured, for every scenario, there will be developers and tech leaders working on a preventative solution) let us assume the worst and say that it does. What happens then? First, there will be the investors in Bitcoin itself, who would see their investment disappear in a heartbeat. How...

Australia’s Bondi Brothers Quit Their Day Jobs And Commit To Crypto Trading

Daniel Colosi and Stephen Lenoci, a pair of Australian investors who operate under the moniker of the Bondi Brothers, have been making waves in the cryptocurrency markets. If their claims are to be believed, the pair make, on average, a cool AUD$2,000 a day solely through the trading of various digital currencies. The Bondi Brothers are relative newcomers to the scene, having only purchased their initial stock of altcoins within the last year, but they have swiftly become recognised as experts in the world of cryptocurrency trading. Their initial investment of AUD$5,000 has soared to a little under AUD$200,000 and, should they be able to continue making profits at their current pace, the pair could be millionaires by the end of 2019. While perhaps not the overnight success the world might ...

Visa CEO Won’t Process Transactions In Bitcoin

Despite being the largest, most popular, and most widely-recognised brand in the world of cryptocurrency, Bitcoin has failed to convince everyone of its worth. The Chief Executive Officer of Visa, Alfred Kelly, is one of those doubters. In a recent interview with CNBC, the head of the world’s largest provider of credit cards said that their company did not consider Bitcoin, or any of its competitors, to be a payment system, and that they would not process any transactions made using the digital currency. Speaking at the recent National Retail Federation conference, Kelly said that Visa would only process transactions that were backed by fiat currencies (that is, currencies issued as legal tender by the government of a given country, such as US dollars, Euros, or pounds Sterling). Although ...

Why We Should Not Be Banning Cryptocurrencies

At a time when many investors, banks, regulators and government bodies see cryptocurrencies as being nothing more than a bubble that is set to burst at any moment, one professional believes that actually banning them is not the answer. Despite Bitcoin being fundamentally flawed, he believes that the innovation of blockchains and cryptocurrencies is actually too important, and therefore banning cryptocurrencies is not the answer. Cryptocurrencies and blockchain technology is a completely new way of doing business. It is still a relatively new subject. Bitcoin is the oldest, and even that is only nine years old. This means that we are still learning how the technology behind it works, and how it can properly be implemented. Because of this though, it means that in the coming years, it is lik...

Things That Are More Important Than The Ethereum Price Crash

It is no secrets that over the past couple of days the cryptocurrency world has been on a downward spiral. Up until very recently Ethereum was actually fairing quite well and the prices were holding up; however, on Tuesday, these prices fell by 25.27%, bringing the Ethereum to USD rate down to $831.27. This recent crash though, as had some unexpected effects. Novice investors are fleeing the market, but more experienced traders are welcoming this price crash. One Reddit user wrote; “Having been in this market since the beginning (yes 2014), I have seen many corrections and dip…Corrections help shake out weak hands and allow for a buy-in opportunity for stronger hands.” Let’s be honest, it is not unusual to see this. And in fact, the steps that seem like it is moving backwards, is actually ...

Private Jet Company Now Accepting Bitcoin And Ethereum

As Bitcoin and other cryptocurrencies build their reputation, more and more companies and organisations are taking the leap and accepting digital coinage as payment for their goods and services. Most recent among these is TapJets, a company based in Houston, Texas, that hires private jets to its clients. Already innovators in their field, TapJets have developed an application for their customers to book their private jet instantly over their smartphone or other mobile device, and now have set foot into the altcoin arena, accepting payment in the major digital currencies, Ethereum and Bitcoin. TapJets started taking Bitcoin as payment in July of last year and saw a steady increase of transactions in the cryptocurrency to book flights through their app, with numbers tripling month after mont...

Is The Bitcoin Bubble Coming To An End?

Bitcoin has often been described as a being a bubble. This led many to say that at some point, this bubble would definitely come to an end. This has all just been hearsay and opinion up until now, but it seems that this might actually be finally happening. Last week, the price of Bitcoin dropped by 20 percent; but that was not the only one. Other popular cryptocurrencies, such as Ethereum and Ripple also saw huge losses. Although there are often many reasons for this drop, experts are saying that the cause for Bitcoins price drop is simple, as this is because the initial price rise was driven by demand primarily from Asia, and since both the South Korean and Chinese government are clamping down on the trading on cryptocurrencies, with some shutting them down completely. The price of Bitcoi...

Best Mining Pools This Year!

Mining the more popular cryptocurrencies like Litecoin and Bitcoin is no longer an activity you can expect to profit from as a solo enterprise. The solution is to join a mining pool, a series of connected servers working in unison across an internet connection that pool their considerable resources to generate data blocks. Whatever reward they make between them is then split among all the pool’s participants. Here are some of the best mining pools to consider joining in 2018. Slush Pool Slush Pool is the longest established mining pool currently in existence, as well as one of the largest, accounting for 11.4% of all mining activity. Boasting a simple sign-up process and a comprehensive website offering a lot of advice to less experienced miners, Slush Pool is a popular place to star...