Coins & Blockchain News

Stock brokerage Robinhood launched no-fee cryptocurrency trading in February 2018 and intends to operate cryptocurrency trading as a breakeven business. Robinhood created its commission-free stock brokerage in 2013, providing major competition to existing fee-based trading platforms. Instead of making money from commission fees on stock and cryptocurrency trades, the company takes its profits from interest earned on cash balances, margin lending, and its premium services. Free Cryptocurrency Trading When Robinhood first announced at the end of January 2018 that it would be launching zero-fee cryptocurrency trading, reactions within the crypto and financial communities were swift. Within just four days of the announcement, more than one million people had signed up for early access to the Robinhood Crypto app. In the days following the app’s official launch in February, growing interest and excitement sparked a flood of new customers – as…

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Last December news.Bitcoin.com reported on the theatrical version of people using the deep web in a play called the “Silk Road: How to Buy Drugs Online.” Since then the play got rave reviews after appearing at the world-famous Edinburgh Fringe and the Vault festival. Now due to the show’s popularity, the performance is hosting the production at the well-known theatre London’s Trafalgar Studios for a twenty-day residency.   Also read: The Bitcoin-Culture Invasion: T-Shirts, Hats, Candles, Mugs, and More The Silk Road Theatre Production Written by Alex Oates Receives Rave Reviews Just before the end of the phenomenal 2017 cryptocurrency run news.Bitcoin.com reported on a play that appeared in the UK called the “Silk Road: How to Buy Drugs Online.” The performance has been funded entirely in BTC when an anonymous person donated funds towards the production. The play, written by…

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Robinhood, the trading platform, is on a roll, amassing over 4 million users. The company’s co-CEO, Vlad Tenev, said that they are quite happy making no money at all on cryptocurrency trading. There are plenty of options for those seeking to trade cryptocurrencies. One negative aspect of trading is dealing with fees, which invariably add up. However, trading platform Robinhood is offering free cryptocurrency trading, and the company is quite happy not making any money off such trades. Fee-Free Trading At the beginning of this year, Robinhood shook up the cryptocurrency space by offering free trading on its platform for Bitcoin and Ethereum. The program has paid off in spades since then. Immediately after the launch of free cryptocurrency trading, the platform added 200,000 new customers per day. Robinhood has ridden the crypto wave to amazing success. The company now…

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As the start of the crypto banking ban by the Reserve Bank of India approaches, cryptocurrency exchanges in the country are preparing to stop fiat deposits and withdrawals while boosting crypto-to-crypto trading. Zebpay plans to continue crypto-INR trading pairs even after the ban. Unocoin has launched a weighted basket order tool to simplify crypto investing. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space No Fiat Withdrawals But Trading to Continue The date for India’s crypto banking ban imposed by the Reserve Bank of India (RBI) is drawing near. All regulated banks and financial institutions must stop servicing cryptocurrency exchanges by July 5. Zebpay, a leading cryptocurrency exchange in India, warned its customers this week that their “rupee withdrawals could stop,” citing RBI’s order. The exchange wrote: If Zebpay bank accounts are disrupted, rupee deposits and withdrawals will become impossible…[However]…

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South Korea’s Ministry of Finance has denied reports of 10% income tax on cryptocurrency investments.  10% Tax on Crypto Grains is Fake News Taxation has been a hot topic in the cryptocurrency world this year. Governments want their piece of the pie and traders are anxious to know how badly their tax collectors plan to gouge them. Luckily, many governments have already announced their stances on the matter. Some have chosen complete leniency—as with Thailand who waived taxes on cryptocurrency gains altogether—but others have taken cruel action to deter investors as with the United States who imposed a capital gains tax on every single microtransaction. One nation that has remained relatively quiet on the matter is South Korea and that has led to a lot of speculation from Korean crypto enthusiasts. Recently, reports have been circulating, stemming from an article…

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Last year, Bitfinex chose to sever relations with customers in the United States. Now the fourth-largest cryptocurrency exchange is losing their chief strategy officer (CSO), Phil Potter. The ongoing regulatory overtures by the US government has had some consequences. One such consequence was that Bitfinex, the world’s fourth-largest cryptocurrency exchange, decided to no longer do business with individuals from the USA back in August 2017. CSO Leaving Now, another consequence of the exchange turning away from working with the US is happening. The company’s chief strategy officer, Phil Potter, is leaving the company. In a statement, he says: As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team. In addition to leaving the exchange, Potter is also leaving his post…

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Mining industry overview: Who will prevail in the cryptocurrency mining market in 2018? Top five biggest farms which mine Bitcoin on an industrial scale

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At press time, bitcoin is retaining its $6,100 price from yesterday. The currency fell to this position from $6,700 after Japan’s Financial Services Agency (FSA) sent notifications to more than five digital currency exchanges saying that they must heighten their security measures against money laundering after noticing weaknesses in their infrastructures. Bitcoin has continued to suffer drops over the past week. Its initial slump to $6,700 occurred after hovering at the $7,600 mark for some time, and now the price is just $100 away from its February low. While bitcoin did drop below $6,000 during yesterday’s evening hours, things didn’t last, and the coin quickly pushed itself back up to $6,100, where it has been ever since. Bitcoin has allegedly lost over 70 percent of its value since December, when it managed to strike near the $20,000 range. However, many…

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One of the most seismic hacks in Bitcoin history was Mt. Gox, the largest exchange at the time. Now a Japanese court rules that the exchange’s bankruptcy is over, opening the door for victim payouts. There have been quite a few hacks of Bitcoin exchanges over the years, but none have had the impact like the Mt. Gox hack. The exchange was once the largest one in the world, but it collapsed after 850,000 bitcoins were stolen. Pillage and Plunder At the time, the coins were worth $473 million. Today, they’re worth a jaw-dropping $5.2 billion. However, all was not lost as 200,000 bitcoins were found and then frozen as bankruptcy proceedings began. This, naturally, left many customers holding the bag, but now there’s a ray of light at the end of the tunnel. The Tokyo District Court put a…

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As the week comes to a close, let us reflect on and digest all the news — most of which was negative, that happened in the cryptocurrency arena affecting Bitcoin price. Oh Look, Another Exchange Hack Tuesday evening, popular South Korean cryptocurrency exchange Bithumb reported a system breach that resulted in approximately $31 million worth of cryptocurrencies being stolen. Coincidentally, in the days following the hack, there was a large marketwide dip — Bitcoin and Ethereum dropped 11 and 15 percent, respectively. Even those who don’t use Bithumb weren’t very pleased after the hack — as Bitcoin transaction speeds and fees soared, due to the exchange moving huge amounts of cryptocurrencies away from its hot wallets. On a small positive note, Bithumb promised to fully reimburse all those who had cryptocurrency stolen from them. (More) Trouble In Paradise For EOS…

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Exchange hacks are becoming the new normal. Just two weeks after Conrail’s $37.2 million hack, it was time for Bithumb’s $31 million hack, with the difference being that Bithumb is the world’s sixth largest cryptocurrency exchange based on CoinMarketCap data, far larger than Coinrail. Last December, another South Korean exchange called Youbit filed for bankruptcy after suffering hacks. Of course, these hacks are still much smaller than the infamous Mt. Gox hack. With such a terrible track record, why would anyone still work with crypto exchanges? Bitcoin, the world’s first cryptocurrency, was a direct response to the Great Recession of 2008; as central bodies collapsed, it offered a peer-to-peer, independent alternative with which to transfer funds. Blockchain is all about decentralization and removing the intermediaries which profit off one’s earnings and impose their biased will. But by removing them, we are also…

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As more and more people join the cryptocurrency conversation, Bitcoin mining has been thrust into the limelight. And just like everything surrounding this inherently controversial industry, it’s shrouded in misconceptions. Bitcoin mining is disastrous for the environment. It’s expensive. It’s draining the earth’s natural resources. These are all valid arguments, but they are based on blinkered statistics. It takes a lot of power to mine Bitcoin and other cryptocurrencies; that’s no lie. But when we hear cries of “A single Bitcoin uses 32 terawatts of energy each year!” and “Mining Bitcoin can power 3 million US households,” we conveniently ignore the bigger picture. Bitcoin mining is no worse than, say, the energy we use to stream movies on Netflix, heat our houses, and update our statuses. Or take our cars on short journeys, deepen our carbon footprint by flying, eating…

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Over the past year and a half bitcoin and cryptocurrencies have caused a serious hype that’s stretched a bit into the mainstream. These days people hear about digital currencies more often and one reason is due to all the fantastic crypto-infused products that have invaded pop culture. Cryptocurrency clothing, knitted sweaters, socks, coffee mugs, and backpacks sporting digital currency symbols, has grown quite extensive. Also read: Bitcoin in Brief: Plagiary, Numerology, and Nano Does a No-No The Crypto-Pop Culture Invasion: The Amount of Cryptocurrency Branded Products Out There Invading Our Mainstream Culture Would Make Andy Warhol Smile    Today we’re gonna talk about the massive amounts of goods available these days that show off everyone’s favorite cryptocurrencies in a fashionable sense. Back in the early days, you’d be lucky to get a bitcoin embroidered hat or a silk screened t-shirt…

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The bears have been out in force throughout 2018, and they’re not done yet. The overall Bitcoin price hit a four-month low yesterday due to multiple issues. 2018 has not been a good year when looking at the overall Bitcoin price. The number one cryptocurrency by market cap reached almost $20,000 back in mid-December 2017, but this year has been one for the bears. Down, Down, Down Bitcoin hit a fourth-month low in price yesterday, coming in at $6,006. A lot of people predicted that the cryptocurrency’s value would rise a number of times this year, such as after the Consensus conference, but those predictions have come to naught so far. Some have claimed that there are multiple issues pushing the downward Bitcoin price. There have been a couple of exchange hacks this year, with Coinrail being targeted first and,…

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Charlie Lee, the developer behind the world’s sixth-largest cryptocurrency, Litecoin, believes the price of Bitcoin and other cryptocurrencies will recover “fairly soon”. Lee shared his thoughts on the current bear market, what developments in the industry excite him the most, and the recent hack on Bithumb, the South Korean crypto exchange. The hack does not in any way reflect weaknesses in blockchain technology and should not lead to a price drop, Lee noted. Lightning Network, Security Measures, and a Bear Market The hack of Bithumb does not change the fundamentals of Bitcoin or the other cryptos, Lee stated in the interview. Drawing parallels between the hack and a bank robbery, the computer scientist who previously worked at Google and Coinbase said: Because it’s like, if a bank gets broken into and gold gets stolen, does that affect the price of…

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Cardano co-founder Charles Hoskinson: Wall Street’s interest in crypto once regulation is sorted will bring in “tens of trillions of dollars”

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This week, leading South Korean crypto exchange Bithumb experienced a major hack, while Mt Gox, the most notorious exchange to be hacked in bitcoin history, is also back in the news.In Switzerland, the Bank of International Settlements is spreading some misinformation about digital currencies and blockchains; meanwhile, attorney Pamela Morgan is in the U.S. sharing great information regarding how you can plan for cryptoasset inheritance. In China, the asset management firm Reality Shares is giving investors access to blockchain-based companies at the forefront of this brave new world.Featured stories by Jimmy Aki, Shawn Gordon, Nick Marinoff and David Weiss.Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.“No Grounding In Reality”: BIS Report Tells A Strange Crypto StoryThis week, the Bank of International Settlements (BIS) in Switzerland issued a new document…

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American multinational technology company Intel has partnered with Enigma on research and development of privacy in computational technologies. Announcing the partnership in a blog post, Enigma said that it was excited to work with Intel as it seeks to advance its protocol and privacy technologies for public blockchains. The partnership comes a few weeks before Enigma launches its testnet and, later this year, its mainnet. Enigma will have access to Intel’s Software Guard Extensions (SGX) which will become central to its privacy-focused technologies, the company revealed. Partnering to Address Blockchain’s Biggest Challenges Enigma addresses two key challenges facing blockchain technology: privacy and scalability. Usually, various projects have focused on one while neglecting the other. Promising to turn ‘smart contracts’ into ‘secret contracts’, Enigma’s protocol withholds the input data in ledger transactions from the nodes that execute the code. This protects…

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Bitcoin and altcoins, in particular, have had some tumultuous times the past few months. However, it has become increasingly evident the majority of the ‘new’ traders were wiped out from the markets. Now that consolidation has occurred there could be bullish signs beginning to brew. Bitcoin, Altcoins in a Sea of Red It is never enjoyable to open one’s portfolio to witness a sea of red. However, this theme has become all too common in the past six months. The altcoin season of 2017 seems like a thing of history as the market has retracted more than 60%. Right? Well, it depends who is asked. Corrections are exceptionally healthy especially in markets that fluctuate hundreds of percent North and retract well over 50 percent. No one said crypto was easy to stomach. It is a fickle ‘asset/investment.’ With such extreme…

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The US Secret Service is worried about the illicit use of cryptocurrencies. A high-ranking official of the agency has urged Congress to consider additional legislation to address anonymity-enhanced cryptocurrencies and services intended to obscure transactions on blockchains such as tumblers or mixers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Undermining US Laws Deputy Assistant Director of the US Secret Service’s Office of Investigations, Robert Novy, gave a testimony before the House of Representatives Financial Services Subcommittee on Terrorism and Illicit Finance on June 20. Novy explained that his agency is primarily concerned with the use of cryptocurrencies “in criminal schemes that undermine the integrity of financial and payment systems, their use in cases of fraud, and their general use as a means of money laundering,” stating: While some digital currencies have operated lawfully, others have been used extensively…

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  A month ago, crypto entrepreneur John McAfee told The Independent that he feared for his life now McAfee has claimed “incompetent enemies” have poisoned him.   McAfee took to Twitter on Friday, 22 June, to share photos of himself lying in a hospital bed covered in tubes.   “I apologize for my three-day absence but I was unconscious for two days at the Vidant Medical Centre in North Carolina and just woke up,” McAfee tweeted.   “My enemies managed [sic] to spike something that I ingested.  However, I am more difficult to kill than anyone can possibly imagine. I am back.”   FacebookTwitterSubscribe   Full story: Here are McAfee’s tweets on the poisoning issue.   My wife @theemrsmcafee and I with a message to my incompetent enemies pic.twitter.com/s7rT105OWy — John McAfee (@officialmcafee) June 22, 2018 And for those who did…

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