Today during a live stream on Diary of a Made Man, Ian Balina noticed something astray... he was being hacked! Balina is a Blockchain and Cryptocurrency investor who has over 150,000 subscribers on his YouTube channel where he reviews ICOS. Balina looks to have lost over $1,000,000 in this hack.
When he first realised this was happening he put out a tweet showing his ether wallet addresses where his tokens were stolen from and also the wallet addresses of the hackers, asking for help from his Twitter community. The tweets have subsequently been deleted by Balina. The three wallets of the hackers coming to $1,396,986.31 in total, as of writing this article yet you can watch live as the tokens are being moved out, presumably sold, even as soon as 9 minutes ago.
In truly terrible form, there are people commenting in etherscan on the hackers wallet address asking for a slice of the pie by posting their addresses and asking for some of the stolen tokens. Unfortunately, people are saying that Balina made himself too much of a target by posting snapshots of his portfolio which contained upwards of $3,000,000 in tokens.
CNBC Fast Money's Brian Kelly has likened Bitcoin adoption to the internet adoption stages in the way it will change tech, but we are only in the 1980s internet adoption stage. He said he thought we might be 1995 internet stage but after the last couple of months talking to people, its still very early days!
Laura Shin, a crypto/blockchain journalist, echoed the same sentiment in her interview with CNBC Africa, saying that people are drawing parallels between bitcoin and the internet and we are in a very early phase of growth in this industry. Shin went onto say that it's a good idea to try and get in on the ground floor and ride the wave up as there are so many big players coming in and providing good infrastructure solutions which did not exist until recently.
Crypto communities erupted in the past 24 hours with bitcoin having its biggest single-day surge since December! In only an hour bitcoins price surged by over a thousand dollars from just under $7,000USD to just over $8,000USD. The price how now sitting around $7,765, up 12.07% since yesterday. Some reports suggested that bitcoin had processed the most amount of trades within a one-hour period on April 12 than any other day in its 10-year history.
The market is beautiful and green across the board, getting everyone excited! EOS still holding 5th place in the top ten in preparation for the airdrop. There has certainly been enough positive news in the community for people to relax and buy up some more while we are currently hovering around the $7,000-$8,000 mark. Keep in mind, on this day last year, bitcoin was trading at $1,201 and had a market cap of only $19,541,300,000.
Let's take a look at a hard fork first, according to Investopedia it is: "a radical change to the protocol that makes previously invalid blocks/transactions valid (or vice-versa)".
Investopedia continued: "This requires all nodes or users to upgrade to the latest version of the protocol software. Put differently, a hard fork is a permanent divergence from the previous version of the blockchain, and nodes running previous versions will no longer be accepted by the newest version."
That possibly makes things as clear as mud, in its most basic form, a hard fork is a software upgrade that is not backwards compatible with the old software. In other words, everyone has to upgrade to the new system in order to participate. There are currently two basic hard forks people talk about, 'planned' hard forks and 'contentious' hard forks.
Bitmain unveiled its first Ethereum ASIC miner with the Antminer E3, with an April release window that has now been delayed into July after the ASICs "weaker-than-expected performance" reports DigiTimes.
Until now, Bitmain was expected to have full batches of the new Ethereum ASIC miners in late-July, but now the company will ship a small batch in July and the rest of them in Q4 2018 after the company released a refined version of the Antminer E3. The initial Antminer E3 should pump away at 180MH/s, offering the hashing performance of 5 x GTX 1080 Ti graphics cards. The revised one, could be many hundreds of megahashes per second... which would be great.
DigiTimes reports that shipments of the Bitmain Antminer E3 were meant to get close to 2 million units, and even weith the delay Bitman is expected to still reach the same goal according to industry sources. DigiTimes adds: "Bitmain will begin accepting pre-orders for the Antminer E3 in April and will start a small volume of shipments in July. The mass shipments of the ASIC miner are planned for the fourth quarter of 2018 after the release of a revised version of the miner,the sources said, adding the ASIC is manufactured on Taiwan Semiconductor Manufacturing Company's (TSMC) 28nm process".
Bitmain is currently talking with TSMC about manufacturing on their fresh 7nm node, while they are getting their 16nm and 28nm mining and AI chips made. The report continues: "Bitmain's 16nm Bitcoin ASIC orders have recently been shifted from TSMC's Fab 14 in Taiwan to the fab in Nanjing, China as Fab 14 will be upgraded to support a 12nm manufacturing process. The orders are expected to begin shipments in May".
EOS has gone on a massive bull run in the past 24 hours, running up a massive 42%! It has now overtaken Litecoin in Market capitalisation by $539,000,000 and has taken 5th place in the top ten cryptos. Many are speculating it is because of the eosDAC airdrop that is due to start on April 15.
November 2017 through to February of this year saw many people scramble into the crypto space. Recording breaking amounts of people, not just record-breaking, exchange breaking amounts!
Many exchanges having to shut their doors to new investors so they could handle the sheer amounts of orders being placed on their books. This is when the trouble began for banks. Bank accounts and credit cards were bled dry all over the world as people believed they could 'get rich quick' by investing what they had into bitcoin or altcoins.
Some banks closed people's accounts, others stopped people from being able to use their credit cards and others issued sky-high fees. JPMorgan Chase & Co did the latter and are now being sued for it. JPMorgan decided to charge their credit card users up to 30% in interest and additional fees. Brady Tucker, a Chase credit-card customer from Idaho, seeking a class-action suit against Chase claimed the bank began treating his cryptocurrency buys through CoinBase like cash advances instead of purchase.
Even with Cboe powering forward and looking at offering futures on other tokens, they may be up for some serious competition sooner than we thought.
Bloomberg asked Jeffrey Sprecher, CEO of Intercontinental Exchange Inc, the owner of the New York Stock Exchange when cryptocurrency futures contracts will be offered on one of his exchanges he replied:
"There is a trend here we can't ignore in my mind, so I don't discount it, it's early days. There is something about technology today that many people are more comfortable with than the institutions of government and society that I grew up with. People put more faith in a guy named Satoshi Nakamoto that no one has ever met than they do in the U.S. Fed. It's an interesting trend that you cannot ignore."
While Mark Zuckerberg sits on his booster seat at a Senate hearing, the Winklevoss twins are continuing with their crypto empire. This week they have announced that their Cryptocurrency exchange Gemini will launch Gemini Block Trading. Block trading is a feature which allows high volume trades to exist outside of Gemini's continuous order books and will only appear once the trade is complete. This helps lessen the impact on the market price for such large buy or sell orders. For example, if someone holds a large amount of bitcoin and would like to sell it without affecting the market price they would use a block trade and the trade would only appear once it is complete. The minimum trade quantity for a Gemini Block Trade is 10 BTC and 100 ETH.
The world is sick of centralised entities taking advantage of our trust and complacency. Facebook is imploding, now the Centre For Digital Democracy has requested for the FTC to investigate Google's YouTube for the illegal collection of personal data from children. Centralised giants are being ousted one after the other. Snapchat, Facebook, Google, YouTube, Twitter, and even Reddit are all guilty of selling and/or suppressing information.
This is not the first time social media users have called for decentralised alternatives. Two years ago a blog on Steemit, a decentralised blogging and social media website that launched in July 2016, reported there were 5 up and coming decentralised social media platforms. None of them are yet to catch fire.
We had no reason to leave MySpace, it was amazing until Facebook came along and as much as social media users are pained by their personal data being sold and even manipulating their consumption of information, they have not been given an alternative.