Category: Bitcoin News
-
Hackers Using Software Vulnerability Stolen From the NSA to Illicitly Mine Crypto
In a 25-page report released Wednesday, the Cyber Threat Alliance (CTA) detailed the worrying rise of illicit cryptocurrency mining in 2018; specifically, how hackers are using a software vulnerability leaked from the NSA last year to do it. ‘They’re Drinking Your Milkshake’ Hackers appear to be gaining entry to users’ systems the same way ransomware…
-
Bakkt Reveals ‘First Steps’ in Solving the Problem of Cryptocurrency Regulation
The twin issues of spotty security and lack of governmental regulation have plagued cryptocurrencies practically since their inception. Headlines of millions lost to hackers and scammy, get-rich-quick schemes that left investors bankrupt have made the public leery of cryptocurrencies. Intercontinental Exchange, which also owns the New York Stock Exchange, is striving to change all that…
-
Bitcoin Hash Rate Doubles in Three Months, Mining Now Costlier Than Buying One BTC
According to research by Sam Doctor, a quantitative analyst at Fundstrat, Bitcoin mining costs have doubled since May. Increasing Hash Rate Late last week, Doctor released a cost analysis of the notoriously expensive Bitcoin mining process that supports the pioneer cryptocurrency. His research concluded that Bitcoin’s requisite hash power of 57 exahash per second, or energy required…
-
Economist: 2020 Will be Worse Than 2008 Recession, Institutions Will Favor Bitcoin
Nouriel Roubini, a well-recognized economist and a professor at Stern School, believes a financial crash worse than the 2008 recession will hit US markets by 2020, which may lead institutional investors to commit to crypto as an alternative store of value and asset class. On Project Syndicate, Roubini outlined 10 major factors that will fuel…
-
Legendary Investor: Crypto is Seeing Highest Developer Activity Since Internet
Ben Horowitz, the co-founder of Andreessen Horowitz, said that the company has not seen the level of developer activity the cryptocurrency sector has demonstrated in recent years since the rise of the Internet in the nineties. According to Horowitz, cryptocurrency and blockchain technology can be considered as a new computing platform that allows the development…
-
Billionaire Investor Tim Draper Predicts $80 Trillion Crypto Market within 15 Years
Billionaire venture capitalist and early Bitcoin proponent Tim Draper has cooked up his most extravagant forecast for the cryptocurrency market yet, predicting it will skyrocket to a whopping $80 trillion valuation within 15 years—approximately the value of all global currency in existence. Making the claim at Deal Street Asia’s VC Summit, Sept. 11th, Draper predicted…
-
Gold vs. Bitcoin: Clarifying the Energy Debate
It’s Saturday, which means nearly everyone is settled in for a relaxing weekend free from the turmoils of crunching numbers. Because Bitcoin is important and everyone uses electricity, here are a bunch of numbers to throw those people off. I didn’t major in math so here goes nothing. First, here’s a dose of sobering perspective:…
-
BitPay Executive Maintains Bullish Stance on Bitcoin
Amid a multi-month downtrend, the price of altcoins and Bitcoin have fallen to yearly lows, pushing market sentiment to near bottom. While price action wanes, BitPay’s Chief Commercial Officer Sonny Singh maintains an optimistic outlook on Bitcoin. Bitcoin Gaining Institutional Traction Following the drastic Bitcoin price drop last week, Singh appeared on Bloomberg to discuss…
-
Morgan Stanley Reveals Plans to Offer Bitcoin Swap Trading
Institutional solutions to cryptocurrency investing continue to take rise. As client demand increases, another major Wall Street firm is making plans to offer a new array of digital asset trading services. Morgan Stanley Expands Digital Asset Trading Services New York-based investment bank Morgan Stanley plans to launch Bitcoin swap trading services for clients, reports Bloomberg.…
-
Stern Professor Says Bitcoin Will Hit Zero After 70 Percent Drop, Illogical Argument
Nouriel Roubini, a Stern School professor and prominent economist, has criticized the major correction of Bitcoin and the rest of the crypto market, claiming that Bitcoin will drop to zero. Tales From Crypt-Apocalypse: Bitcoin has lost 70% from the peak; Ethereum 85%; other Top 10 crypto-currencies about 90%; the remaining crypto-zombie-currencies between 95% & 99% of…