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Friday, November 17, 2017

Crypto News: BitMEX is Dumping Bitcoin Cash and Crediting Users With Bitcoin

BitMEX is Dumping Bitcoin Cash and Crediting Users With Bitcoin

The Hong Kong-based Bitcoin Mercantile Exchange (BitMEX) has announced it will sell all its customers’ airdropped bitcoin cash balances and distribute the proceeds in bitcoin form.

The exchange — which offers BTC/USD swaps but is best known for its futures market — made the announcement on Wednesday, explaining that because bitcoin cash was created through a “contentious hard fork” it will not allow users who received BCH at the time of the August 1 fork to withdraw the coins to their personal wallets:

"BitMEX does not agree with contentious hard forks, and does not accept the manner in which Bitcoin Cash was forked, or the lack of preparation or notice before the fork; we consider this a dangerous action that imposes unacceptable costs on end-users and businesses."

BitMEX has not looked fondly upon attempts to fork away from the main bitcoin blockchain. The exchange had also taken a hard stance against the SegWit2x hard fork, which has since been called off. Prior to the fork’s cancellation, the exchange had stated that it did not intend to support SegWit2x coin trading on its platform, nor did it plan to distribute airdropped coins to its customers.


Full story at http://bit.ly/2zP4S4M


Source: CryptoCoinsNews


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Tuesday, November 14, 2017

Cryptocurrency News for 14 Nov 2017

 

Cryptocurrency trading volumes reached a record high over the weekend that beats some US stock exchanges

Cryptocurrency trading volumes reached a record high over the weekend that beats some US stock exchanges

 

Bitcoin crashed more than 25% from Wednesday's all-time high to a low of $5,617 Sunday. Bitcoin cash, the rival clone of bitcoin, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning.

24-hour trading volumes for cryptocurrencies reached a record high above $26 billion on Sunday, according to data site CoinMarketCap.com.

To put that in perspective, that is higher than the 5-day average trading volumes for two US stock exchanges. Both IEX, the upstart exchange based in New York, and the Chicago Stock Exchange averaged less than $10 billion in trading each day for the last five days, according to data by Cboe Global Markets.

IEX saw $7.8 billion worth of shares exchange on its venue, whereas CHX witness $3.1 billion in trading volumes.


Full story at http://read.bi/2AGOVKU


Source: Business Insider Nordic


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Bitcoin's High Transaction Fees Show Its Limits

Bitcoins High Transaction Fees Show Its Limits

 

The Bitcoin rate spike, still alive despite bitter divisions in the community that supports the cryptocurrency, has laid bare the biggest problem with Bitcoin: Compared with fiat currencies, it's painfully inconvenient and expensive to use as a means of payment. 

Bitcoin is set up to reward users for verifying transactions. Miners who package transactions into "blocks" receive two kinds of rewards: The additional Bitcoin they produce by using their hardware to solve mathematical problems (an income stream that will eventually cease since 21 million bitcoins are the maximum that can be mined) and the transaction fees paid by users to get their payments into blocks.

The Bitcoin system is designed around scarcity and its traditionalists insist on keeping the block size small (rebels who did away with that tenet founded an offshoot, Bitcoin Cash, earlier this year). Their reasoning is that only people with more computing power can live in a big-block world and going down that path would make Bitcoin less democratic. But that horse has bolted: Mining is already largely the province of people who invest significant money in equipment and the huge amount of energy required to run it. As Bitcoin's exchange rate rose rapidly and more people wanted to get in on the boom, getting into blocks became difficult, and miners prioritize transactions on which users are willing to pay a higher fee. It works a bit like Uber's surge pricing, except the user sets the fee based on how long she's prepared to wait for the transaction to go through -- using one of several sites that link fees to waiting times or show median and average fees. 


Full story at https://bloom.bg/2AGMUyt


Source: Bloomberg


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Bitcoin Cash Network Completes a Successful Hard Fork

Bitcoin Cash Network Completes a Successful Hard Fork

 

November 13 is a memorable day for bitcoin cashsupporters, as the network is forking in order to fix the BCH blockchain’s DAA. The primary development teams who have been working on the bitcoin cash protocol consensus change include Bitcoin ABC, Unlimited, Nchain, and XT developers. The original DAA applied to the BCH network allowed the currency to thrive but also produced wild hashrate fluctuations. After several DAA proposals were researched and tested by the above-mentioned development teams, the community chose to implement a DAA proposal from Bitcoin ABC’s lead developer Amaury Sechet.

The new BCH consensus change hopes to adjust the difficulty to hashrate to target a mean block interval of 600 seconds. Alongside this, the DAA aims to make sudden difficulty drops and spikes avoidable. For instance, the network will adjust difficulty rapidly when the hashrate changes exponentially, while also avoiding feedback oscillations. Sechet’s DAA is based on a 144-period simple moving average according to the ABC team.

“The difficulty is adjusted each block, based on the amount of work done and the elapsed time of the previous 144 blocks,” explains the Bitcoin ABC development team.

Essentially the consensus change means the new DAA should keep block times stable and consistent at roughly 10 minutes per block. So far this goal of 10-minute block intervals has come to fruition. Now that the fork has happened BCH network participants will wait and see what happens with miners who have been hopping back and forth between two chains. Many BCH supporters believe this will level the playing field and from here on out, as the BTC and BCH competition should be fair without any miners gaming the system.


Full story at http://bit.ly/2AFWC43


Source: Bitcoin News


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CME CEO: Bitcoin Futures Could Begin Trading As Soon As December

 

CME Group chairman and CEO Terry Duffy has said that the derivatives exchange operator could list a planned bitcoin futures product as early as next month.

Speaking to CNBC today, Duffy said that trading could begin as early as the second week of December.

"I think sometime in the second week of December you'll see our contract out for listing," he told the network.

The firm made waves in October when it revealed that it was seeking regulatory approval to list its first bitcoin-related product. At the time, CME said that the futures would be tied to its existing price index, launched in 2016, and be settled via cash.


Full story at http://bit.ly/2AATwyn


Source: CoinDesk


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Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency

Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency

 

Bitcoin crashed more than 25% from Wednesday's all-time high of $7,721 a coin to a low of $5,617 Sunday. During its fall, bitcoin's market cap as a percentage of the entire crypto-market dipped below 50% for the first time since early October, according to CoinMarketCap.com.

Bitcoin cash, on the other hand, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning. Its share of the market rose to an all-time high above 17%.

By Monday morning, however, the situation was flipped.

At 9:40 a.m. ET, bitcoin was trading up 10.9% at $6,544 and had regained its more than 50% command of the cryptocurrency market. Bitcoin cashwas trading down 20% at $1,262 per coin.


Full story at http://read.bi/2AFF0VY


Source: Business Insider Nordic


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After periodic drops of 20 percent, bitcoin tends to come back even stronger

After periodic drops of 20 percent, bitcoin tends to come back even stronger

 

Bitcoin cash briefly surged past ether to become the second-largest cryptocurrency

Bitcoin fell about 20 percent over the weekend before recovering much of its losses. The last four times bitcoin has fallen more than 20 percent this year, it has gained an average 28 percent in the two weeks following, according to digital currency trading firm Genesis Global Trading.

Four weeks out, the digital currency has gained an average 61.5 percent, the data showed.

Bitcoin performance in the weeks after a drop of more than 20%


Full story at http://cnb.cx/2AFOalf


Source: CNBC


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Crypto News: Bitcoin's High Transaction Fees Show Its Limits

Bitcoins High Transaction Fees Show Its Limits

The Bitcoin rate spike, still alive despite bitter divisions in the community that supports the cryptocurrency, has laid bare the biggest problem with Bitcoin: Compared with fiat currencies, it's painfully inconvenient and expensive to use as a means of payment. 

Bitcoin is set up to reward users for verifying transactions. Miners who package transactions into "blocks" receive two kinds of rewards: The additional Bitcoin they produce by using their hardware to solve mathematical problems (an income stream that will eventually cease since 21 million bitcoins are the maximum that can be mined) and the transaction fees paid by users to get their payments into blocks.

The Bitcoin system is designed around scarcity and its traditionalists insist on keeping the block size small (rebels who did away with that tenet founded an offshoot, Bitcoin Cash, earlier this year). Their reasoning is that only people with more computing power can live in a big-block world and going down that path would make Bitcoin less democratic. But that horse has bolted: Mining is already largely the province of people who invest significant money in equipment and the huge amount of energy required to run it. As Bitcoin's exchange rate rose rapidly and more people wanted to get in on the boom, getting into blocks became difficult, and miners prioritize transactions on which users are willing to pay a higher fee. It works a bit like Uber's surge pricing, except the user sets the fee based on how long she's prepared to wait for the transaction to go through -- using one of several sites that link fees to waiting times or show median and average fees. 


Full story at https://bloom.bg/2AGMUyt


Source: Bloomberg


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Crypto News: After periodic drops of 20 percent, bitcoin tends to come back even stronger

After periodic drops of 20 percent, bitcoin tends to come back even stronger

Bitcoin cash briefly surged past ether to become the second-largest cryptocurrency

Bitcoin fell about 20 percent over the weekend before recovering much of its losses. The last four times bitcoin has fallen more than 20 percent this year, it has gained an average 28 percent in the two weeks following, according to digital currency trading firm Genesis Global Trading.

Four weeks out, the digital currency has gained an average 61.5 percent, the data showed.

Bitcoin performance in the weeks after a drop of more than 20%


Full story at http://cnb.cx/2AFOalf


Source: CNBC


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Crypto News: Cryptocurrency trading volumes reached a record high over the weekend that beats some US stock exchanges

Cryptocurrency trading volumes reached a record high over the weekend that beats some US stock exchanges

Bitcoin crashed more than 25% from Wednesday's all-time high to a low of $5,617 Sunday. Bitcoin cash, the rival clone of bitcoin, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning.

24-hour trading volumes for cryptocurrencies reached a record high above $26 billion on Sunday, according to data site CoinMarketCap.com.

To put that in perspective, that is higher than the 5-day average trading volumes for two US stock exchanges. Both IEX, the upstart exchange based in New York, and the Chicago Stock Exchange averaged less than $10 billion in trading each day for the last five days, according to data by Cboe Global Markets.

IEX saw $7.8 billion worth of shares exchange on its venue, whereas CHX witness $3.1 billion in trading volumes.


Full story at http://read.bi/2AGOVKU


Source: Business Insider Nordic


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Crypto News: 'Market manipulation 101': 'Wolf of Wall Street'-style 'pump and dump' scams plague cryptocurrency markets

Market manipulation 101: Wolf of Wall Street-style pump and dump scams plague cryptocurrency markets

LONDON - Cryptocurrency exchanges are rife with "pump and dump" scams that would be illegal in most markets and leave unsuspecting investors at risk of large losses, a Business Insider investigation has found.

Crypto traders are using the secure messaging app Telegram to orchestrate the scams. Their strategy is to suddenly inflate the price of a cryptocurrency by coordinating a few buyers to act at specific times.

Then, after the price rises, they attract other, unwitting investors to buy into the price momentum. The "pumpers" quickly sell the coin to make a profit. The coins often crash just minutes after the initial surge, leaving the second wave of investors with losses.

The same scam was most famously carried out in the stock market by the "Wolf of Wall Street," Jordan Belfort, the convicted securities fraudster whose exploits were turned into a film starring Leonardo DiCaprio.


Full story at http://read.bi/2AFEYNQ


Source: Business Insider Nordic


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Crypto News: Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency

Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency

Bitcoin crashed more than 25% from Wednesday's all-time high of $7,721 a coin to a low of $5,617 Sunday. During its fall, bitcoin's market cap as a percentage of the entire crypto-market dipped below 50% for the first time since early October, according to CoinMarketCap.com.

Bitcoin cash, on the other hand, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning. Its share of the market rose to an all-time high above 17%.

By Monday morning, however, the situation was flipped.

At 9:40 a.m. ET, bitcoin was trading up 10.9% at $6,544 and had regained its more than 50% command of the cryptocurrency market. Bitcoin cashwas trading down 20% at $1,262 per coin.


Full story at http://read.bi/2AFF0VY


Source: Business Insider Nordic


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Crypto News: Bitcoin Cash Network Completes a Successful Hard Fork

Bitcoin Cash Network Completes a Successful Hard Fork

November 13 is a memorable day for bitcoin cashsupporters, as the network is forking in order to fix the BCH blockchain’s DAA. The primary development teams who have been working on the bitcoin cash protocol consensus change include Bitcoin ABC, Unlimited, Nchain, and XT developers. The original DAA applied to the BCH network allowed the currency to thrive but also produced wild hashrate fluctuations. After several DAA proposals were researched and tested by the above-mentioned development teams, the community chose to implement a DAA proposal from Bitcoin ABC’s lead developer Amaury Sechet.

The new BCH consensus change hopes to adjust the difficulty to hashrate to target a mean block interval of 600 seconds. Alongside this, the DAA aims to make sudden difficulty drops and spikes avoidable. For instance, the network will adjust difficulty rapidly when the hashrate changes exponentially, while also avoiding feedback oscillations. Sechet’s DAA is based on a 144-period simple moving average according to the ABC team.

“The difficulty is adjusted each block, based on the amount of work done and the elapsed time of the previous 144 blocks,” explains the Bitcoin ABC development team.

Essentially the consensus change means the new DAA should keep block times stable and consistent at roughly 10 minutes per block. So far this goal of 10-minute block intervals has come to fruition. Now that the fork has happened BCH network participants will wait and see what happens with miners who have been hopping back and forth between two chains. Many BCH supporters believe this will level the playing field and from here on out, as the BTC and BCH competition should be fair without any miners gaming the system.


Full story at http://bit.ly/2AFWC43


Source: Bitcoin News


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Crypto News: Russia Has Found Best Location for Crypto Miners

Russia Has Found Best Location for Crypto Miners

The Russian Association of Blockchain and Cryptocurrency (RACIB) has conducted a study of the attractiveness of Russian regions for cryptocurrency mining, local publications reported on Monday. This association was formed to unite blockchain participants as well as owners, miners, and investors of cryptocurrencies and initial coin offerings (ICOs). Its formation was as announced in August by President Vladimir Putin’s adviser on Internet issues, Herman Klimenko. The association’s president, Yuri Pripachkin, told RBC that:

"The association compared the regions by such parameters as the cost of electricity, the availability of free reserve capacities, logistics accessibility and the development of telecommunications infrastructure."

According to its findings, the Krasnoyarsk Territory scores the best overall. Krasnoyarsk is the largest territory in the Russian Federation and the second largest federal subject. Its area spans 2,339,700 square kilometers, or approximately 903,400 square miles. Its administrative center is the city of Krasnoyarsk, the third largest city in Siberia with a population of about 1 million.

“The cost of electricity in this region is 2.41 rubles per kW/h,” the news outlet wrote, which is worth about four US cents. Even though this region scores the best overall, it does not have the cheapest electricity. Two regions nearby have cheaper electricity: Khakassia (2.01 rubles) and Irkutsk(2.14 rubles).


Full story at http://bit.ly/2AFF6gi


Source: Bitcoin News


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Crypto News: 6 Trillion Dollar Man Says “Tiny” Bitcoin Succeeds Due to Being “Anonymous” and “Cross-Border”

6 Trillion Dollar Man Says “Tiny” Bitcoin Succeeds Due to Being “Anonymous” and “Cross-Border”

Canadian holding company, Woodbridge Company Limited, owns Thomson Reuters. The agency held its annual conference, Reuters Global Investment 2018 Outlook Summit in New York City. Among the esteemed legacy heavies was Blackrock Inc’s Chief Executive, Larry Fink.

On 13 November 2017, Mr. Fink’s tone was somewhat irked at the financial press’ preoccupation with bitcoin. Attention is due to its historic growth in price and valuation, the spin-off markets it created, and the subsequent innovation sweeping the corporate world.

Undaunted by it all, he seemed to dismiss the entire affair, noting, “The reason why it does so well is it is anonymous. It’s anonymous, and it’s cross-border,” he told the conference.

Blackrock is a bank readers have might not have heard of, but the reader’s banker surely has. It manages near 6 trillion USD in assets, and operates what’s known as a shadow bank, a bank to banks, operating just outside traditional depository banking.


Full story at http://bit.ly/2AFF7km


Source: Bitcoin News


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Crypto News: Craig Wright Pushes For 1GB Blocks to Attain Visa-Level Bitcoin Scaling

Craig Wright Pushes For 1GB Blocks to Attain Visa-Level Bitcoin Scaling

Nchain is the name of Wright’s company, who bill themselves as “a global leader in research and development of blockchain technologies”. A week ago, Wright published a white paper examining the feasibility of the blockchain being used as a global payment system. In it, he explored speed and scalability, issues which have become pet obsessions of Wright’s.

In a follow-up post published today, Wright hit back at critics who’d found flaws in his research, which he attributed to the fact that “many academics seem to hate Bitcoin”. He wrote:

"What we are finding is that there is a lot of pessimism and open condemnation of the idea that Bitcoin can scale."

Forget 1MB, 2MB, or 8MB block sizes – if Wright has his way, block sizes in the future will be measured in gigabytes. His team have reportedly scaled and tested 340GB blocks. If such a system were ever to implemented on a live network, however, one of the conditions would be the removal of small nodes. Wright claims: “Bitcoin is and was never a home user system, it was designed to end on specialised nodes in datacentres.”


Full story at http://bit.ly/2AFOaSh


Source: Bitcoin News


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Monday, November 13, 2017

Crypto News: CME CEO: Bitcoin Futures Could Begin Trading As Soon As December


CME Group chairman and CEO Terry Duffy has said that the derivatives exchange operator could list a planned bitcoin futures product as early as next month.

Speaking to CNBC today, Duffy said that trading could begin as early as the second week of December.

"I think sometime in the second week of December you'll see our contract out for listing," he told the network.

The firm made waves in October when it revealed that it was seeking regulatory approval to list its first bitcoin-related product. At the time, CME said that the futures would be tied to its existing price index, launched in 2016, and be settled via cash.


Full story at http://bit.ly/2AATwyn


Source: CoinDesk


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Daily Jokes from SydesJokes for 13 Nov 2017

 

Joke 1

Dieting for a month

SydesJokes Blog

Original post: http://csyd.es/1/779


Joke 2

Some people want it to happen, some wish it would happen, others make it happen. - Michael Jordan


Joke 3

A young and foolish pilot wanted to sound cool and show who was boss on the aviation frequencies. It was his first time approaching a field during the night time.

Instead of making any official requests to the tower, he said: "Guess who?"

The controller switched the field lights off and replied: "Guess where!"


Joke 4

Q: What is the ultimate rejection?
A: When you’re masturbating and your hand falls asleep.


Joke 5

A young businessman had just started his own firm. He had just rented a beautiful office and had it furnished with antiques.

Sitting there, he saw a man come into the outer office. Wishing to appear the hot shot, the businessman picked up the phone and started to pretend he had a big deal working.

He threw huge figures around and made giant commitments. Finally he hung up and asked the visitor, "Can I help you?"

Yeah, I've come to activate your phone lines.


Joke 6

Honey, said this husband to his wife, "I invited a friend home for supper."

What? Are you crazy? The house is a mess, I didn't go shopping, all the dishes are dirty, and I don't feel like cooking a fancy meal!

I know all that.

Then, why did you invite a friend for supper?

Because the poor guy is thinking about getting married.


Joke 7

A young polar bear cub approached his mother one day and asked, "Mom, am I a polar bear?"

Of course you are, she replied with a smile.

OK, said the cub, and padded off. Later, he found his dad out by the iceberg.

Dad, am I a polar bear?

Sure you are, son! said his dad, wondering a bit at why his son would ask such a silly thing.

The next day, the cub asked the question again and again.

Are you and mom polar bears? You are? Well, then, does that make me a polar bear? Pure, 100% polar bear? Finally, his parents couldn't stand it any longer. "Son, you're driving us crazy with this question! You are a polar bear! Why do you keep asking?"

The cub looked up and confessed, "Cause I'm FREEZING!"


Joke 8

Q: How do you piss off Winnie the Pooh?
A: By sticking your finger in his honey.


The Power of Love

SydesJokes Blog

Original post: http://csyd.es/1/308


 

 

 

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Cryptocurrency News for 13 Nov 2017

 

Bitcoin Crashes and Then Surges in Wild Weekend Action

Bitcoin Crashes and Then Surges in Wild Weekend Action

 

Bitcoin is proving that investing in digital currencies isn’t for the faint of heart.

After plunging as much as 29 percent from a record high following the cancellation of a technology upgrade on Nov. 8, the largest cryptocurrency came roaring back in early trading Monday before fluctuating between gains and losses.

“Crypto trading is not for the novice investor,” said John Spallanzani, chief macro strategist at GFI Securities LLC in New York.

While multiple reasons are being cited for the price volatility, one of the more viable is that some investors are switching to alternative coins. Bitcoin cash, an offshoot of bitcoin that includes many of the technical upgrades being debated by developers, has more than doubled in the same period.


Full story at https://bloom.bg/2hvquMG


Source: Bloomberg


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Big Short Author: Definitely a Link Between Bitcoin and the Chaos in the US Federal Government

Big Short Author: Definitely a Link Between Bitcoin and the Chaos in the US Federal Government

 

“What about [the psychology of] bitcoin? Because, I think people are starting to feel, okay, is this real or is this …,” Ms. Rogers began. Mr. Lewis quickly interrupted, “Well, it exists right!”

She continues, “Well, but now we have more people coming out, commenting on it that are, you know, real thinkers that aren’t telling us this is a fraud — although we still have Jamie Dimon and Warren Buffett and all those people. But we have a lot more coverage coming from Wall Street. We have the CME coming out with the futures contract. So what are you thinking about bitcoin?”

Mr. Lewis began, “Bitcoin is money without a central authority, and money without a central bank or government, [without] needing a government. So what drives its value? The distrust of central authority and the feeling that maybe the governments aren’t going to work,” he pointed out.

“There’s definitely a link between whatever bitcoin is doing and the chaos in the federal, in the US federal government,” he emphasized.


Full story at http://bit.ly/2hxTrHM


Source: Bitcoin News


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Bitcoin's value rose $10 billion in just 12 hours after a dramatic sell-off

Bitcoins value rose $10 billion in just 12 hours after a dramatic sell-off

 

Bitcoin rallied more than 11 percent in just over half a day on Monday, following a dramatic plunge in the cryptocurrency over the weekend.

The digital currency started trading at $5,857.32 on Monday and rose to $6,545.20 by 11:50 a.m. GMT (6:50 a.m. ET), according to data from industry website CoinDesk. This marks a nearly 12 percent increase in the price.

Bitcoin's market capitalization, or the total value of all the virtual coins in circulation, rose over $10 billion in the same time period, according to industry website Coinmarketcap.com.

Just last week, bitcoin hit a record high of $7,879.06 that was attributed to factors including CME Group announcing plans to offer bitcoin futures contracts, and some favorable regulation in countries like Japan, which has legalized bitcoin as a method of payment.


Full story at http://cnb.cx/2hw08tS


Source: CNBC


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40 Companies From China and EU Have Applied to Mine Bitcoin in Russia

40 Companies From China and EU Have Applied to Mine Bitcoin in Russia

 

The Russian Association of Blockchain and Cryptocurrency (RACIB) has reportedly received 40 applications from companies and individuals from European Union countries and China to place mining equipment in Russia to mine bitcoin. This was conveyed to Ria Novosti by the association’s president Yuri Pripachkin last week.

The publication then quoted him saying:

"In Russia, the number of such factories is already in the hundreds, and our country has energy resources that can be sold to miners effectively."

RACIB is an association formed in August this year to unite blockchain participants and owners, miners as well as investors of cryptocurrencies and initial coin offerings (ICOs). Its formation was announced by President Vladimir Putin’s adviser on Internet issues, Herman Klimenko.


Full story at http://bit.ly/2hwnJe7


Source: Bitcoin News


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Bitcoin cash briefly replaced rival digital coin ether as the second-largest cryptocurrency

Bitcoin cash briefly replaced rival digital coin ether as the second-largest cryptocurrency

 

A cryptocurrency that split away from bitcoin was temporarily the second-largest virtual currency by market value on Sunday.

The market capitalization of bitcoin cash surged to more than $41 billion on Sunday at 2:29 a.m. ET, according to data by industry website Coinmarketcap. It dipped to $22 billion at 10:30 p.m. ET.

Bitcoin cash usurped rival digital coin ether — the digital token of the ethereum blockchain — becoming the second-largest digital currency by market cap for a number of hours.

Vitalik Buterin, co-founder of Ethereum, congratulated backers of the bitcoin offshoot on Twitter.


Full story at http://cnb.cx/2hwJxpY


Source: CNBC


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Sberbank Apologizes for Buying Nearly All Graphics Cards on the Russian Market

Sberbank Apologizes for Buying Nearly All Graphics Cards on the Russian Market

 

Sberbank, the largest bank in Russia and third largest in Europe, is majority-owned by the Russian government. According to senior vice president, Alexander Vedyakhin, the bank’s research lab was behind the dry spell. Ria Novosti reported on Saturday:

"The reason for the deficit in the video card market was Sberbank, buying up video cards for its laboratory of artificial intelligence."

“We invest very much in technology, and we should, incidentally, apologize for that shortage in the video card market, which occurred recently, because we bought them for the laboratory of artificial intelligence,” Vedyakhin said at the Sberbank international conference on data analysis, machine learning and artificial intelligence. However, he indicated that soon the shortage will be over “because we [have] satisfied our need.”

While Sberbank has said that it is “not yet ready” to use cryptocurrency, the bank admitted to studying it in detail, according to Stanislav Kuznetsov, Deputy Chairman of the Executive Board of Sberbank.


Full story at http://bit.ly/2hwt3hC


Source: Bitcoin News


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