Bitcoin / 166 posts found

China’s Cryptocurrency Mining: Capital, Costs, Earnings

by Tip
China’s Cryptocurrency Mining: Capital, Costs, Earnings Most Bitcoin mining operations are in China. As of July 2017, it is estimated that almost 70 percent of all Bitcoin mining is located in China. Cryptocurrency mining, like other forms of businesses, needs capital to start and runs at an operation cost. Briefly, the startup cost includes the building, facilities and mining equipment. On the other hand, the operation cost primarily includes electricity consumption, Internet bandwidth, manpower, equipment wear and tear and facilities maintenance. Cheap electricity and mining machines are the two most critical factors for why mining operations are now thriving in [...]

Forget oil, Russia goes crazy for cryptocurrency

by Tip
Forget oil, Russia goes crazy for cryptocurrency   MOSCOW (AFP) - Standing in a warehouse in a Moscow suburb, Dmitry Marinichev tries to speak over the deafening hum of hundreds of computers stacked on shelves hard at work mining for crypto money. "The form of currency we are used to is about to disappear," predicts the 42-year-old entrepreneur, who also works as President Vladimir Putin's adviser on internet matters. Marinichev is one of Russia's leading crypto-businessmen at the helm of operations in this facility larger than a football pitch located in a former Soviet-era car factory, which collects virtual money [...]

Bitcoin Price in Tulip Bubble, Claims BBC Tech Correspondent

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Bitcoin Price in Tulip Bubble, Claims BBC Tech Correspondent The bitcoin price has set numerous records in 2017, prompting a wave of critics to forecast that “The bubble will burst!”. On August 14, BBC technology correspondent Rory Cellan-Jones became the latest in a long line of mainstream financial analysts and reporters to compare the rise of bitcoin to 17th-century Dutch Tulipmania. As he stated on Twitter: “Yes, tulip bulbs are now selling for $4000 and we were told that was a bubble when they hit $100.. 10:07 AM - Aug 14, 2017”   The Tulip Bubble The tulip bubble, which [...]

What Would Happen if Cryptocurrency Became More Popular Than Cash

by Tip
What Would Happen if Cryptocurrency Became More Popular Than Cash? t's not outlandish to think that our current financial system will soon be replaced by cryptocurrency, and the shift will bring about some big changes to the global economy. THE FLIPPENING For a time, Bitcoin seemed unassailable in its dominance of the cryptocurrency market, being the first digital currency to really take root and establish itself in the mainstream. Since then, a host of worthy competitors have emerged, and there’s a real possibility that the balance of power could flip. Many who have been regularly following developments in the cryptocurrency [...]

U.K. Authorities look to Deem Bitcoin as Cash to Facilitate Cryptocurrency Seizures

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U.K. Authorities look to Deem Bitcoin as Cash to Facilitate Cryptocurrency Seizures A new report, published by the N8 Policing Research Partnership, states that law enforcement faces various challenges when it comes to cryptocurrencies and that, although these challenges are mostly driven by the lack of knowledge and tools, they would be lessened if bitcoin were categorized as cash. This would facilitate seizures in the cryptocurrency, which the report states facilitates money laundering and criminal activities. The report starts by associating bitcoin with cybercrime, using WannaCry’s global ransomware campaign and its effects on the NHS as an example of how [...]

Fidelity now allows clients to see digital currencies on its website

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Fidelity now allows clients to see digital currencies on its website Fidelity Investments has started allowing clients to use its website to view their holdings of bitcoin and other cryptocurrencies held through digital wallet provider Coinbase. Fidelity Investments has started allowing clients to use its website to view their holdings of bitcoin and other cryptocurrencies held through digital wallet provider Coinbase, the company said on Wednesday. The initiative, previously tested with the Boston-based money manager's employees, is a rare example of an established financial services company warming up to cryptocurrencies. Starting Wednesday, most Fidelity clients will be able to authorize [...]

Changes in European regulations may impact Bitcoin

by Tip
Changes in European regulations may impact Bitcoin Some researches were stating that nearly a half of the bitcoin transaction is somehow related to various gambling activities. The reasons behind this are quite simple, the bitcoin provides a greater anonymity for the players and low transaction costs. However, the popularity of the bitcoin in the iGaming sector seem to become even greater this year. Considering the fact that Poland, the Netherlands, Czech Republic and a few other major European markets are making it unfavourable for the operators to serve the customers via a locally regulated company and illegal to operate without [...]

EVERYONE IS CRAZY FOR ETHEREUM, BUT BITCOIN IS STILL THE BEAST TO BEAT

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EVERYONE IS CRAZY FOR ETHEREUM, BUT BITCOIN IS STILL THE BEAST TO BEAT We’ve come a long way in the eight years since Bitcoin’s original release. Back in 2009, when the pseudonymous Satoshi Nakamoto launched the cryptographically verified digital asset, it was just a curiosity. With time, though, new uses have been found for it, from buying drugs, to transferring money near-instantaneously across the globe. Its value has peaked and troughed to reach considerable worth today – right now, a single Bitcoin is worth almost $2,800, close to its record high of $2,964.   The success of Bitcoin has inspired [...]

Mastercard Eyes Cryptocurrency Refunds in New Patent Application

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Mastercard Eyes Cryptocurrency Refunds in New Patent Application A new patent application from Mastercard suggests that the global credit card issuer is exploring ways to build refund services for cryptocurrency users.   The application, titled "Information Transaction Infrastructure", was published by the the U.S. Patent and Trademark Office (USPTO) on August 3, having been submitted in late January. Vladimir Goloshchuk, who according to LinkedIn previously worked as a senior analyst at Mastercard, is listed as the sole inventor.   The application details an infrastructure through which users could verify their identities, which would then be linked to cryptocurrency addresses they [...]

Grandpa Had a Pension. This Generation Has Cryptocurrency

by Tip
Grandpa Had a Pension. This Generation Has Cryptocurrency. Most readers have probably heard of Bitcoin, the digital coin that dominates the cryptocurrency market. It has gained notice both because of its skyrocketing value (from less than a cent in early 2010 to around $2,600 currently) and because it is frequently a key player in hacking- and black-market-related stories, from the looting of nearly half a billion dollars in coins from the Mt. Gox exchange in 2014 to the recent demand for payment in Bitcoin in the WannaCry ransomware attack. But do you know Ethereum, with a total value of coins [...]