Cryptocurrency News

Bitcoin and other cryptos lose billions after hack (money.cnn.com) | Posted: 2018-06-11 20:29:00

• Cryptocoins are awesome and really convenient. What you do is take your money, convert it into a cryptocoin... then, if you want to buy a good or service, you convert the cryptocoin back into regular currency. If it is Bitcoin you're using, this takes about 25 minutes or so but that gives you time to check your email or play a game on your phone while you wait for your coffee transaction to complete. It's just that easy.
• Public Service Announcement: People who own bitcoin or other crypto have a literal vested stake in telling the world that this (the hack) means nothing and crypto is super safe so keep investing and now is a good time to BUY!!! I'm not saying it is or is not a good thing (crypto) but keep in mind that people have a vested interest in convincing you it's the greatest thing ever.
• Crypto Heist: Hackers steal millions from South Korea exchange, global market drops $42 billion: Cryp http://bit.ly/2JLvl8A

Sherpa presumed dead on Mt. Everest after ASKfm ICO stunt, a fact ASKfm failed to mention (www.sfgate.com) | Posted: 2018-06-05 15:45:00

• A man died because a social media site wanted to leave their own brand of internet money on top of the highest mountain on Earth. Explain that to your grandma
• "500,000 ASKT will stay on the peak of Mt. Everest," said ASKfm in its celebratory Medium post, "for someone who is brave enough to climb the mountain." They're actually encouraging people to kill themselves looking for it. You have a very short window within which you can remain on the summit of Everest. You can already be dead before you even begin your descent, simply because you stayed at the top a minute longer than you should have. This is why over half the fatalities on Everest have been by climbers who are descending from the summit. And that's just from sitting down for 40 seconds too long, or stopping to wait for a fellow climber. This company is actually encouraging people who make the summit to expend time and energy they cannot afford to dig for $50k in pretend money. It's absolutely absurd, and I hope no one is dumb enough to do it.
• A sherpa died on Mount Everest during ASKfm cryptocurrency promotional stunt - annnnnd the company still ran the freaking promo!??!!?

A third of wealthy individuals plan to enter crypto market (www.marketwatch.com) | Posted: 2018-06-02 13:28:00

• Looks like somebody is trying to pump and dump soon.
• DeVere Group, a financial consulting firm, recently said it added Bitcoin Cash and EOS to its platform because of growing demand from high net worth individuals. Umm...any "high net worth" individuals with half a brain would not be investing in Bitcoin Cash, and definitely wouldn't be investing in EOS.
• So many people threatened by cryptocurrencies in here. If you're so scared of them then why do you spend your valuable time reading articles about cryptocurrencies? I, for one, embrace new technology and am not a scared dinosaur like most of the commenters here.

The State of Cryptocurrency Mining (blog.sia.tech) | Posted: 2018-05-13 12:17:00

• @Naval - Fascinating deep-dive by protocol developers into the inevitability of ASICs and centralization in any PoW scheme. The part on BitMain is particularly illuminating.
• @nic__carter - The Sia boys have a habit of permanently changing the narrative on topics they blog about. This is one such case
• @zooko - OMG—everyone who cares about Proof-of-Work mining needs to read the entirety of blog.sia.tech/the-state-of-c…. There are many major truth bombs in there. This is going to force me to rethink a lot.
• –Show another 1 conversation(s)–
• @ummjackson - This is a *must-read* article on the state of PoW mining in cryptocurrency. Conclusions align closely to research I've done about many PoW-based currencies (ie. centralization at 2-3 entities).

Multicoin Capital Released their analysis on EOS and they are bullish on it's prospects (multicoin.capital) | Posted: 2018-04-24 17:15:00

South Korea Set to Resume Cryptocurrency Trading Tomorrow, January 30th. ID verification Now Required for All Crypto Trading (www.koreaherald.com) | Posted: 2018-01-29 13:14:00

• South Korean exchanges organize themselves to self-regulate, as the Korean Blockchain Organization boasts 25 crypto exchanges as members, with 66 members total
• More Info on the Korean Blockchain Association: "An inaugural ceremony for the launch was held at the Yeouido National Assembly Hall in Seoul. It was attended by 58 out of 66 member companies along with Min Byung-Doo, a member of the Democratic Party, and Kim Sung-tae, a member of the Free Korean Party, Inews24 reported. Former South Korean Minister of Information and Communication, Chin Dae-jae, became the first chairman of the association."
• Coinmarketcap website finally reinstates South Korean prices on their moving averages, after removing them a month ago
• Major online shopping mall in South Korea announces it will now be accepting payment in 12 different cryptocurrencies and partners with Bithump, one of the largest South Korean crypto exchanges
• News from last week: "Bithumb and Korbit, two of the largest cryptocurrency exchanges in the South Korean market, have announced that Kookmin Bank deposits and withdrawals will be disabled by the end of January." Kookmin Bank is the second largest bank in South Korea...
• South Korea's biggest crypto investors and analysts agree... "There will be no future bans" as outlook looks bright
• CRACKDOWN IN THE PAST WEEK: "major cryptocurrency exchanges Upbit, Korbit, Coinplug, Coinone, and two more platforms fined by the government in the range of $10,000 to $100,000 for having poor security measures."
• The South Korean Pension Fund has been investing in crypto-exchanges behind the scenes: "The National Pension Fund of South Korea is the third-largest pension fund in the country. The pension fund's venture capital funds have invested in the operators of Upbit, Coinplug, Korbit and Bithumb."
• [VIDEO]: News report on the adoption of crypto-currencies by WeMakePrice, South Korea's largest e-commerce platform

South Korean Company, ICON Network, Releases Their Infograph Which Details Their Expanding Ecosystem (www.reddit.com) | Posted: 2018-01-27 12:39:00

• First Annual Summit scheduled for January 31st at the World Lotte Tower, with 5 dAPPs to be presented, along with partnerships...
• ICON SPECULATIVE HANDBOOK: Reddit user /u/SpecRationality's website with sourced graphs and speculations on the upcoming summit trends heavily on r/Cryptocurrency
• @CryptoOfKorea - Sneak-peak of the brochure for the summit leaked
• Straight from today's leaked pamphlet: "84% of Korean brokerages implemented ICON-based DApps Chain ID, 5 millions insurance customers (AXA) ready to use the ICON-based smart contract insurance payment, 3+ Korean universities developed ICON-based UCoin, 6+ Korean university hospitals sharing patient data through ICON-based blockchains." Decentralized exchange where one can buy ICX with fiat coming soon, all leaked in the pamphlet
• Technical Analysis for ICX: Possible target zones...
• Trending graphs on TrendingView all indicate bullish patterns
• Popular Crypto Youtuber DataDash publishes his top 3 picks for February 2018: ICON (ICX), Raiblocks (XRB), and Bitcoin (BTC)

Tokyo-based Exchange Coincheck Pledges to Compensate All Losses for Their 58 Billion Yen ($534 Million) Hack of NEM Tokens (twitter.com) | Posted: 2018-01-27 12:20:00

• Friday, around 523 million NEM tokens were sent to another account, worth around $534.8 million
• Possible the ‘largest crypto-heist in history’… MtGox hack was worth $400 million in 2014: "We know where the funds [totaling 523 million NEMs] were sent. We are tracing them and if we're able to continue tracking, it may be possible to recover them. But it is something we are investigating at the moment."
• Global crypto-market grimaces, dipping only slightly
• News of the Coincheck hack spreads through Facebook, in the top 5 trending topics for today
• CEO SAYS LITTLE and MAINTAINS RESOLVE: CEO says only NEM impacted by hack, plans to restart and continue operations, still not sure who conducted the hack. Investigation by authorities continues...
• NEM says "it's not our fault" ... no problem with the blockchain reported
• 260,000 users affected by the hack... Coincheck finally discloses the total number
• Centralized exchanges can too easily be compromised, some argue, as they anticipate a future with decentralized exchanges built on projects such as 0x Protocol (ZRX) and Kyber Network (KNS)
• Twitter reacts: “I expect Kyber Network and 0x to have a great year!” as decentralized exchanges get a short boost in the market

Robinhood adds zero-fee cryptocurrency trading and tracking (techcrunch.com) | Posted: 2018-01-25 09:36:00

• @RobinHoodApp - Introducing Robinhood Crypto. Invest in Bitcoin and other cryptocurrencies commission-free on the Robinhood platform, 24/7. #DontSleep. Get early access https://crypto.robinhood.com/
• @CremeDeLaCrypto - Coinbase news is a big deal. Between Coinbase/TT and Robinhood news, the onramps to crypto are expanding not constricting. Market appears to be "selling the news" right now but these are very bullish developments.
• @CremaDeLaCrypto - 52K people "in-line" to use new crypto feature (since announcement short time ago), adding 100+ people per second right now. Offering crypto is about to become table stakes for stock brokerages.
• @JoshConstine - Stripe dropping Bitcoin as Robinhood opens up trading signals the shift in cryptocurrency from a payment tool to an investment asset
• @Nickabouzeid - .@RobinhoodApp is taking on Coinbase. Finally. It's unrealistic and risky to let one exchange control the retail cryptocurrency investor market in the US. Good for the industry.
• @BrianNorgard - Let's appreciate for a moment @RobinhoodApp bringing some serious UI/UX to Crypto. About time... Superbly designed experiences are coming to Crypto.
• @rrhoover - Robinhood is in a great position to eat into Coinbase and other exchange's market share for a more mainstream audience. I'm curious which crypto currencies they plan to support beyond Bitcoin and Ether. - Producthunt.com

Square Now Allows Users to Buy & Sell Bitcoin in their Cash App (squareup.com) | Posted: 2018-01-24 17:17:00

• @Nathanielpopper - What matters more, @Square adding the ability for customers to buy Bitcoin, or @Stripe cutting off the ability for customers to buy with Bitcoin? ie is store of value more valuable than payments?
• @SatoshiLite - I guess @CashApp is the real Bitcoin also, since it does fast and cheap transactions! /s...
• /usuer/Artist701- Other noteworthy items: I noticed I can only buy if i have money on my Square Cash Account, this means i need to transfer to my Cash account first. I can enable withdrawals but requires Verification via ID or Driver's License or State ID. Plus all info is encrypted and never shared (according to the disclaimer).