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A Crypto CEO who wants to turn the art of fraud into a business model

BitRush is a technology company focused mainly on the development of cryptographic payment systems and their application in various services. BitRush is a publicly traded company on the Canadian Securities Exchange (CSE) in Toronto. At the board meeting (Dec 7, 2016), a majority of the directors appointed a Special Committee of the Board to investigate the circumstances leading to the cease trade order and related matters to report its findings to the Board. The Board also terminated Werner Boehm as Chief Executive Officer of the Company, effective immediately, as a result of actions taken by him without Board approval to the detriment of the Company, including issuing unauthorized and inaccurate press releases. It turned out that Werner Böhm as CEO deceived and betrayed shareholders as we...

Bitcoin becomes new ‘crisis currency’

Many of the people investing in Bitcoin are not simply using it as a means of speculation, but as an alternative to more traditional, and in some cases, less stable and accessible currencies. According to a recent report by Bloomberg, around a third of customers at ‘La Maison du Bitcoin’ in Paris are using the cryptocurrency to transfer much-needed funds to their families in Africa. This is due in part to political and economic instability, but also to the ease of access that the cryptocurrency provides: Manuel Valente, cashier, explains: “In many countries in Africa, there are more cellphones than bank accounts.” Bitcoin only requires a mobile phone to be transferred, so it is more accessible for many people in African countries than a traditional bank transfer. One such...

Bitcoin hits a high of $8,000

Bitcoin has begun to get over their tumultuous period by topping out at a massive $8,020 on Bitfinex before settling at $7,900. Not that long ago, the implementation of the SegWit2x hard fork was pulled which caused the price to rise to $7,800. However, within just an hour, the price had ended up in a free fall. Within a couple of days, Bitcoin had dropped to a low of $5,500, whilst Bitcoin Cash had started on an upwards trajectory, hitting $2,600. In this period, a number of Bitcoin’s miners had transferred to Bitcoin Cash causing the number of pending transactions to soar to well over 135,000. The situation wasn’t looking good. Bitcoin had just put the only near-term solution to their scalability crisis on hold. SegWit was adopted back in August, but it will take time to prove its worth ...

Morgan Stanley CEO Gorman plays down Bitcoin growth

If there is one subject that seems to divide the large financial investors and investment banks, it is Bitcoin! While the stunning year the cryptocurrency has seen to date has amazed all with its 700% growth, some have not always been too complimentary about it. One exception to that had been Morgan Stanley CEO James Gorman who, while not gushing in praise, had not been overly critical of it. In recent comments though, it seems he may now be taking a more cautious stance on Bitcoin. Gorman hints at speculative bubble Although his recent reported comments were not scathing as such, he did take time to point out a few concerns he had around the cryptocurrency. The first was that he didn’t think the attention Bitcoin was currently getting was deserved or healthy. It seems he fears that ...

Where is crypto capital coming from?

Bitcoin has now recovered its recent losses and stands at $7610, 5% up on the day so far – with BCH down a precipitous 18% at $1012, sicker than the supposedly doomed BTG, up over 5% at $168.53. There is nothing interesting in this except that volatility is good for price discovery and so lessens the risk of a bubble bursting. Meanwhile, volatility in the stock-markets is at an all-time low … The big fact is that the total market cap of the crypto-currency universe recently zoomed above $170 billion. Its robust health annoyed “analogue” money men such as Jamie Dimon, but frankly the longer they reject the emerging evidence, the better for Bitcoin investors. Liquidity is pouring into crypto-currencies and leaking away from the over-leveraged equities world. In a sense, Bitcoin has bec...

Payment solution Square backs Bitcoin

In another great bit of news for the cryptocurrency industry, payments app Square has added Bitcoin into its network. The $16 billion-valued company has officially integrated Bitcoin into its mobile platform which means millions of its users can now buy, sell and store the cryptocurrency easily. Action by Square in response to public demand It would seem from comments by the company that this move to officially integrate Bitcoin into its cash app is a direct result of customer feedback. With more people wanting fast and efficient ways to buy Bitcoin, Square have reacted to this need and offered their users a solution. The company have expressed that they are excited by the potential of cryptocurrencies like Bitcoin and how they can help people participate more fully in the overall financia...

Bitcoin bringing new excitement to the property market

Cryptocurrencies like Bitcoin are beginning to find a presence in the property market, as sellers are seen to be putting a Bitcoin price tag on their house. Estate agents have noticed a surge in interest when a ‘Bitcoin accepted here’ sign is added to a property, and it makes sense that Bitcoin could play a big role in the property market someday. But, in the current climate, is it a good idea to sell a house for Bitcoin? A marketing machine One thing that has become apparent is that the decision to place a house for sale in Bitcoin draws a lot of media attention. A £17 million mansion in Notting Hill has seen an extraordinary amount of interest since going on the market in October. And even a modest property in the town of Grimsby has drawn global media attention this way. Cry...

Blockchain wallet to add full Bitcoin Cash support by 2018, plus SegWit

The creators of the Blockchain cryptocurrency wallet announced on November 15 that they will be adding SegWit and full support for Bitcoin Cash in the near future. The news came via a tweet from CEO Peter Smith, confirming the near-future plans for the popular wallet platform. There is already support for Ethereum and Bitcoin, but only limited Bitcoin Cash functionality at this time. The announcement was accompanied by a blog post, which read that 2018 is the year for the roll-out of support for SegWit within the Blockchain wallet products. The update will be a “major” and “complex” one, affecting some of the most sensitive parts of the Blockchain codebase. The changes will be across a wide variety of platforms and devices, and will have an effect on billions in use...

Who’s afraid of Bitcoin Gold?

On November 12, during a tumultuous weekend when Bitcoin saw a challenge thrown down by upstart Bitcoin Cash, another crypto was quietly launched: Bitcoin Gold. Its reception was either ignored or sneered at in the Press. Amidst headlines such as “Bitcoin Gold Fails To Impress Investors” and “Bitcoin Gold Goes Live After Bumpy Blockchain Launch”, it seemed the obituary was already being composed. But should we write off Bitcoin Gold? One of the strangest things for a coin apparently so pointless and doomed was the hostility Bitcoin Gold received in the run-up to its formal issuance, and not just from the crypto-press. A Twitter scam lured potential customers to malware sites, and someone invested in a full-scale DDOS attack on the Bitcoin team. That is a suspicious whole bunch of attention...

Parity comes clean on $160 million Ether freeze

The development team behind Parity’s Ethereum software has released new information on the critical code fault that caused $160m worth of Ether to be frozen. At the present time, there is no immediate solution to allow those affected to regain access to their funds. The Parity team has acknowledged that the situation has caused distress and anxiety for the wider community, and especially those involved and that they are working on a solution to the problem. The post [https://paritytech.io/blog/security-is-a-process-a-postmortem-on-the-parity-multi-sig-library-self-destruct.html] has stated that there is currently no set timeline for the release of the frozen Ether. The current consensus is that a platform-wide upgrade may be required to restore total functionality to the 500 wallets that h...

Concerns raised over North Korean cryptocurrency hackers

Claims have arisen from the Korea Internet & Security Agency (KISA) that North Korea-based cybercriminals have started to ramp up malware attacks against the users and service providers of digital currencies in South Korea. Evidence also suggests that the hackers have targeted the digital currency companies themselves too. The latest KISA report from mid-November shows a staggering 370% increase in malware attacks relating to cryptocurrencies compared to figures from the same period in 2016. The data that KISA collated shows that the hackers have been consistently attempting to disrupt the daily running of the currency providers and companies, as well as trying to steal money and taint the image of cryptocurrencies in the public eye. According to data in the report, 5,366 ransomware at...

How can I buy a Bitcoin?

Now that you understand the basics of Bitcoin, the next logical step is to actually get some. But how? This brief guide will teach you all you need to know. At present, Bitcoins are either bought directly from other people through marketplaces, or purchased at a Bitcoin exchange. They can be paid for in a number of ways, from cold, hard cash, to debit and credit cards, to a wire money transfer, and even using other cryptocurrencies. It largely depends on where you live and from whom you’re buying your Bitcoins. How can I buy Bitcoins? Despite the popularity of Bitcoin as the world’s leading cryptocurrency, and the serious discussion of it at many financial centres around the globe, it remains surprisingly difficult to use PayPal or your credit card to purchase Bitcoins, depending on the ju...