In a second-quarter earnings call, Nvidia CEO Colette Kress has said that the revenues from its cryptocurrency venture have declined to a point in which the chip manufacturing conglomerate will now have to back out from the crypto sector. $100 Million to $18 Million In early 2018, Nvidia expected its cryptocurrency mining equipment manufacturing venture to bring in at least… The post Nvidia Says its Crypto Businesses is Never Coming Back, Officially Out appeared first on BTCMANAGER.
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Binance, the world’s largest cryptoassets exchange by 24-hour trading volume, has announced the launch of a fiat-to-crypto exchange in the heart of Europe. It will offer trading between the Swiss Franc (CHF) and Euro (EUR) against a handful of established digital assets, as per an August 16, 2018, press release. Binance Crypto Revolution The world famous exchange has added another… The post Binance Form Alliance with LCX to Launch Binance LCX Crypto-to-Fiat Exchange appeared first on BTCMANAGER.
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Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. Also read: This Fall May Bring More Crypto-Friendly Jurisdictions 1 Petro = 60 Dollars = 1 Barrel Nicolás MaduroVenezuelan president Nicolás Maduro revealed the fixed price of the country’s cryptocurrency, the petro, and a new minimum wage as part of a package of measures aimed at improving the socio-economic conditions in the South American country. The policies will be implemented on Monday, when the new, denominated brolivar will be introduced to replace the highly inflated national fiat. Starting from August 20, 1 PTR will be officially exchanged…
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PumaPay has announced its partnership with Wix, the website creation and hosting platform. Based on the partnership, the PumaPay cryptocurrency (PMA) becomes one of the payment options on the platform. Wix Adds PumaPay Cryptocurrency PumaPay which is fast becoming a cryptocurrency payment staple in the adult entertainment industry has added a new client, Wix. The announcement is yet another example of the ever-increasing utility of virtual currencies in several aspects of ecommerce. According to Venture beat, Wix users now have the option to pay for their website creation and hosting using PumaPay. Online merchants can also take advantage of the cryptocurrency’s PullPayment Protocol as a billing method thus allowing them to accept PMA tokens on their Wix websites. Commenting on the development, Yoav Dror, the CEO of PumaPay said: All components of the PumaPay solution are being developed with our…
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Hong Kong, China – August 18, 2018: Hong Kong-based IT company Libellum Ltd has announced the launch of its innovative new supplier verification, product certification, and compliance platform. Libellum aims to make purchasing from China as secure as possible by blockchain technology as well as partnering with the world’s largest third-party testing companies. E-commerce and Third Party sellers are growing rapidly and the need for verified suppliers is growing exponentially, as many buyers fall victim to the scams of illegitimate suppliers. One of the biggest problems in the import/export industry is that buyers have no simple and easy way to verify the legitimacy of suppliers from overseas. Libellum works to solve this problem by enabling consumers and buyers to lookup certificate numbers or test reports, which are issued by testing and certification companies on the platform. Within a few simple…
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On Tuesday, U.S. international wire transfer startup Wyre announced a strategic partnership with MakerDAO. We’ve written about Wyre several times in the past: first when they raised a $5.8 million Series A led by Chinese firm Amphora Capital. The firm went on to acquire Bejing-based Remsity as they took on China. At the time — April 2017 The post Interview: Michael Dunworth, CEO of Money Transfer Service Wyre, on MakerDAO Partnership appeared first on CCN The post Interview: Michael Dunworth, CEO of Money Transfer Service Wyre, on MakerDAO Partnership appeared first on Your Daily Satoshi.
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Venezuela’s currency the Bolivar Fuerte jumped to 9.2 million per dollar and almost 60 million per bitcoin August 18, just two days before a major redenomination cuts five zeros off its value. Redenomination Looms As reported by cryptocurrency commentators including Purse.io support head Eduardo Gomez, the bolivar traded unofficially at around 6.7 million VEF per 1 USD August 17, before suddenly depreciating rapidly to 9.2 million. “Yesterday 1 bitcoin was worth 44 billion bolivars, now it’s at 59 billion,” he noted. As Bitcoinist recently reported, August saw the bolivar, which is the world’s least-valued currency, extend its increasingly troubled history. Combined with current behavior on Bitcoin markets, the price 00 of the largest cryptocurrency in VEF terms is now doubling every 18 days. According to Bloomberg’s Cafe Con Leche Index, which tracks the rate of inflation in Venezuela in lieu…
Read MoreEconomic crises will drive adoption, says Coinbase CEO, as Turkey flocks to Bitcoin
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Cryptocurrency prices have seen some recovery after our last markets update four days ago when a large majority of digital assets lost quite a bit of value. Since then, and more so over the last 48 hours, the entire crypto-economy capitalization ($216B) has gained roughly $20B. The action yesterday was more bullish as most of the top digital assets were up between 6-20 percent but have since lost some of those gains during this weekend’s trading sessions. Also read: Testing the Newly Transformed Non-Custodial Coinbase Wallet Up Moves, Down Moves, and Eight Months of Corrections Last week was pretty bad for most of the top digital asset markets, except we mentioned during our last markets update that bitcoin core (BTC) spot market prices took the least of the blows downward. Then a little less than 48 hours ago and mostly yesterday…
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The fact that an ETN from Stockholm is now targeting the U.S. market may sound like a win, but it’s a far cry from the big ETF prize
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Make sure you check out our previous edition here, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this weeks edition of The CCN Podcast on iTunes, TuneIn, Stitcher, Google Play Music, Spotify, Soundcloud, Youtube or wherever you get your podcasts. Price Watch: Bitcoin is up 0.82% to The post Bitcoin Cash Futures, Venture Funds, and Lawsuits: This Week in Crypto appeared first on CCN The post Bitcoin Cash Futures, Venture Funds, and Lawsuits: This Week in Crypto appeared first on Your Daily Satoshi.
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Despite the recent ban on cryptocurrency mining apps by Google on its Play Store, there are still reports of such apps available for download on the platform. Mining Apps Still Available for Download In July, Google released an updated policy document within which contained its decision to ban cryptocurrency mining apps from the Play Store. The move came shortly after Apple made a similar decision. At the time, Google made it clear that they wouldn’t allow mobile apps that mine virtual currencies but they would permit the one that manages cloud crypto mining activities. However, despite this ban, an investigation carried out by The Next Web (TNW) revealed that there were still a few such apps on the Play Store. According to TNW, one such app, JSEcoin, developed by a British startup was able to publish its mining app on…
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According to the Financial Conduct Authority (FCA), a British watchdog, cryptocurrency fraud is on the rise in Britain according to Reuters report on August 17, 2018. The fraudsters lure their victims with promises of instant wealth through their “investment packages.” Two and a Half Million Dollars Lost to Fraud A report released by the watchdog reveals that victims of fraud… The post Bitcoin and Other Cryptocurrency Fraud on the Rise in Britain appeared first on BTCMANAGER.
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Decentralized exchange AirSwap is launching the framework for over-the-counter (OTC) trading product for mainnet rollout. In an update posted on its website, AirSwap said the new product would be available “exclusively to a private beta group.” Founded in 2017, AirSwap became known for offering frictionless peer-to-peer trades for ERC20 tokens to a group of primarily The post Decentralized Crypto Exchange AirSwap Launches OTC Market to ‘Unlock New World of Liquidity’ appeared first on CCN The post Decentralized Crypto Exchange AirSwap Launches OTC Market to ‘Unlock New World of Liquidity’ appeared first on Your Daily Satoshi.
Read MoreAlcoa, the company that invented aluminum smelting back in 1888 observes once again how one of their old operation sites is being overtaken by a bitcoin / cryptocurrency mining farm operation. Back in June, a company called CoinMint announced that it will invest $700 million in the New York economy in order to take over an old Alcoa plant and build a mining farm. This time around it is Bitmain, the global cryptocurrency mining leader is the one that is taking the step forward by committing to a $500 million investment. Located in Rockdale, Texas, this mining operation is going to bolster the local, county, and state economy over the course of the next 7 years. It seems that former Alcoa locations really do make a great selection for establishing mining farms. It is great to see the versatility of companies…
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The recent decline in cryptocurrency prices has cast a shadow on several aspects of the digital currencies space. However, one area where this bearish outlook has not extended to is cryptocurrency mining. The Hash Factor is an Indicator According to a report from Bloomberg, bitcoin mining has remained profitable for some miners who have improved their investments and efficiencies in the space — even against the continued bitcoin price drops. One of the indicators of this has been the increased hashrate, which is the computing ability for mining bitcoin measured on the Bitcoin network. The increased hashrate corresponds with additional investments made by miners into computing power. At the start of August 2018, Bitcoinist reported that the Bitcoin network’s hashrate had recorded an all-time high of 52 quintillion hashes per second. This ties in with a hashrate growth that started…
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At the Liechtenstein Cryptoassets Exchange (LCX), Binance CEO Changpeng Zhao told TechCrunch founder Michael Arrington that 90 percent of the exchange’s employees receive their salaries in BNB. “Just one of the interesting things @cz_binance told me this week at LCX event: 90% of binance employees choose to receive their salary in BNB tokens. Smart people,” The post 90% of Employees at Major Crypto Exchange Binance Receive Salary in BNB appeared first on CCN The post 90% of Employees at Major Crypto Exchange Binance Receive Salary in BNB appeared first on Your Daily Satoshi.
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A while back, the San Francisco-based exchange Coinbase announced the launch of an ethereum-based wallet called Toshi. The application was a private and secure messaging platform tethered to a non-custodial ETH wallet. Now Coinbase has decided to revamp the application and Toshi will become the ‘Coinbase Wallet’ which will not only offer ETH and it’s token derivatives but soon it will also hold BCH, LTC, and BTC. Also read: The Daily: Husbands Blackmailed for Bitcoin, Blockchain This and That Toshi Platform Changes to Coinbase Wallet Next time someone tells you Coinbase is “not a wallet” you can tell them that the San Francisco firm does offer a non-custodial wallet that provides users with private keys. The wallet is called Coinbase Wallet, a rebrand of the Toshi Wallet the company introduced back in April of 2017. On August 15, the Coinbase engineer…
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Crypto markets suffer another slump, with Ethereum and Ethereum Classic wavering following last week’s gains
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The founders of cryptocurrency exchange Cobinhood are commissioning the development of a new blockchain capable of processing 1 million transactions per second, a massive undertaking given that Bitcoin transaction can take hours to complete and Ethereum transactions range from 1-5 minutes, with even Visa’s ~2000 tx/s being dwarfed in comparison. The company behind the project The post Cobinhood Founders Raise $20 Million for Blockchain That Processes 1 Million Transactions Per Second appeared first on CCN The post Cobinhood Founders Raise $20 Million for Blockchain That Processes 1 Million Transactions Per Second appeared first on Your Daily Satoshi.
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Authorities have indicted a 21-year-old Bitcoin dealer for money laundering as he sold $750,000 in Bitcoin across the US. Across the world, governments are grappling with how to regulate cryptocurrency. Some are heavy-handed in their approach, while others just seek to put some regulations in place for consumer protection. One thing that all governments frown upon is someone looking to ignore regulations and use cryptocurrency to launder money. When someone thumbs their those at the government by doing that, that’s when the hammer comes down. Illegal Bitcoin Dealing Case in point is Jacob Burrell Campos, a 21-year-old man from Rosarito. He was arrested by law enforcement when he tried to enter the United States from Mexico via the Otay Mesa Port of Entry. His crime? Well, Campos faces a 31-count indictment. Chief among the charges is money laundering. It seems…
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At press time, bitcoin has fallen back a bit and is now trading for just over $6,300. This is about $200 less than where it stood yesterday. Some strange occurrences are happening in the bitcoin space. For example, one source notices that there’s a strong correlation between bitcoin and Overstock. Rather, Overstock’s stock (mini tongue twisters ahead). Both allegedly seem to be following the same patterns, and the story has been the same for the past four years. It’s interesting in the sense that Overstock was one of the first major retailers to accept bitcoin as a means of payment for goods and services on its website. The company has since expanded, and other retailers have followed suit, but the source suggests that Overstock investors are using the company as a sort of “proxy asset” for bitcoin. Since 2014 –…
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Owing to the remarkable features such as convenience, easy tracking of spending, lower risks, etc., people have been increasingly adopting the concept of digital trading. To tap into this growing trend, XINFINITY has introduced its digital wallet that will revolutionized digital currency transactions for the better. Cryptocurrency wallets store public as well as private keys to execute various operations and there is no actual coin exchange. Instead, a transaction record is maintained on the particular blockchain network and these records are validated through variations in the sender and receiver balance of the respective cryptocurrency wallet. Over the past few years, with more and more people adopting crytocurrency wallets, it has seen a significant advancement in the digital transaction domain. Primarily because it comes with ATM level security. Several businesses such airlines, banks, publishing, real estate, healthcare, etc. today are transacting…
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The South Korean government has announced the outcome of its inspection of 21 cryptocurrency exchanges. While a number of exchanges have completed implementing both short-term and wallet management measures, many security vulnerabilities remain at most exchanges. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space 21 Exchanges Inspected South Korea’s government has announced the result of its mid-term review of 21 cryptocurrency exchanges. The inspection was conducted in June and July by the Korea Internet and Security Agency (KISA) and the Korean Ministry of Science and Technology. KISA security experts visited each exchange to check on the 85 items identified during its previous crypto exchange inspection, conducted between January and March. They focused on 17 items which needed immediate implementation; six were short-term measures and 11 concerned crypto wallet management. “Intermediate checks were carried out in such a way as…
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Japanese tech giant Softbank denies alleged investment in Bitmain, and investment from Tencent remains unconfirmed. Bitmain has refused to comment
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