Cryptocurrency & Mining News - Page 30
The entire 'can it mine' joke has surpassed the 'can it run Crysis' thing from what feels like 50 years ago now, but then the news broke that scientists working at a Russian nuclear weapons research facility have been arrested, because they were mining cryptocurrency at the site.
Interfax and the BBC are both reporting that scientists that haven't been named have been arrested, and handed to the Federal Security Service (FSB) after it was discovered they were mining crypto. There has been a representative from the Scientific Research Institute for Experimental Physics who has said: "There has been an unsanctioned attempt to use computer facilities for private purposes including so-called mining".
Some of these scientists were using the supercomputer at the nuclear facility to mine cryptocurrency, with the security department at the site receiving an alert that the scientists had connected the machine to the internet, which nuclear-related machines are usually not connected to the internet. But you need to be in order to mine, which is how these people were busted.
Interfax has said that there will most likely be criminal charges laid.
There might be $500 billion wiped away from the total cryptocurrency market cap, but now news is breaking that Ledger hardware wallets aren't very safe at all.
Ledger has posted on their Twitter account reminding users that they should "always verify [their] receiv[ing] address" by checking the "monitor screen" at the bottom of the transaction request form.
Anyone that is involved with cryptocurrency is feeling the same thing we're all going through right now: every emotion available to my human vessel is being amped to 500% right now.
The entire cryptomarket is in freefall right now and while it's not an outright crash, some people are calling it that - and it seems so, especially when you look at the total cryptocurrency market cap. At the time of writing the crypto market cap was at $328 billion, down from the lofty heights of $830 billion back on January 7.
This means a huge $500,000,000,000 has been wiped away from the cryptocurrency market cap, a huge number... half a trillion dollars, gone. Everything is down as well, not just Bitcoin which has dropped from its heights of $19,500 in January to just $7000 now.
Well, here we are: if you're a customer of Bank of America, JP Morgan Chase, or Citigroup, you can't use your credit card to purchase cryptocurrency.
Bloomberg is reporting that the banks have now banned the purchasing of cryptocurrency using their credit cards, with BofA already denying use of their cards for crypto purchases on certain exchanges, while debit card transactions seem to still be fine. Citigroup has said that as of Friday last week, they won't be accepting crypto purchases, and JP Morgan Chase's new rules come into effect today.
The reason? JPMorgan spokesperson Mary Jane Rogers said that the bank doesn't want to deal with the risks associated with cryptocurrency, and they're saying they're trying to stop the risks of consumers' spending more than they can afford to pay back on cryptocurrencies, through their credit cards. Good guy banks? Pfft.
We have all seen the headlines lately, with cryptocurrency in Bitcoin, Ethereum, Ripple and hundreds more cryptocurrencies, as well as crypto mining, but now we find out industry heavyweight Samsung is getting into the crypto mining game.
New reports from last week hit South Korean outlet The Bell, where they reported Samsung had started manufacturing ASICs that they would provide to a Chinese mining firm, that is anonymous for now. A company spokesperson has told TechCrunch that "Samsung's foundry business is currently engaged in the manufacturing cryptocurrency mining chips".
This is gigantic news as right now, TSMC is the king of ASIC miners that they ship a large majority to Bitmain, the China-based Bitcoin miner that has over 70% of the market share.
For anyone in the cryptocurrency world, the last few days have been horrible with a couple of major dips in virtually all cryptocurrencies.
The entire cryptocurrency market cap reached over $800 billion on January 7, and has been on the decline since.
But the last 7 days have been horrible, where it dipped into the $700 billion area and then has really dived off a cliff in the last 24 hours into the sub-$500 billion mark, stabilizing (for now) at $530 billion.
I don't even know what I'm about to write, but here goes: Virtual Currency Girls. Virtual Currency Girls is a new J-pop (Japanese pop) group that features 8 girls, who each individually represent different cryptocurrencies.
Virtual Currency Girls' first single is called "The Moon and Virtual Currencies and Me" and educates listeners of the problems and fraud associated with cryptocurrencies online, with the bank promoting the idea that cryptocurrency isn't a "tool of speculation", and is instead a "wonderful future".
GUNNAR Optiks has just announced it has partnered with eSports giant Unikrn, where GUNNAR customers can purchase their gaming eyewear using UnikoinGold, or UKG.
Not only that, but Unikrn platform users will be able to win GUNNAR gaming eyewear in jackpots that will be held on the site. GUNNAR customers will receive UKG kickbacks on every purchase when they open up a Unikrn Wallet to hold UKG, and a Connekt account. The jackpot itself doesn't cost gamers a thing, but you'll need to be a Connekt user where you can earn UKG crypto for playing games.
Earning UKG is tied to some of the largest eSports games in the world, including CS:GO, League of Legends and Dota 2.
In what feels like the most ironic story I've written in a while, the North American Bitcoin Conference ticking page doesn't support Bitcoin payments, with an explanation from the group saying the "no cryptocurrency" policy is because of the "network congestion and manual processing".
There's a valid reason here, but it's just ironic that one of the best Bitcoin conferences in the world... doesn't accept Bitcoin right now. Bitcoin.com is reporting that more and more merchants are not accepting Bitcoin payments anymore because it's not quick and easy like other cryptocurrencies.
But the point is that Bitcoin isn't a transaction coin, and more of a stored value coin and "USD" of crypto. You need to trade BTC for most alt coins, and isn't something you buy your coffee or pay for your Netflix subscription with.
In the last few hours over $50 billion has been wiped away from the global cryptocurrency market cap, down to just $628 billion (at the time of writing) from its record high of $835 billion on January 7.
Why the massive drop in cryptocurrency prices? Well, there have been massive stories that the Chinese government will be banning Bitcoin mining in the country, and with 80% of Bitcoin mined in China, this is huge on its own. But then news broke a couple of hours ago from Reuters that the South Korean government was pushing laws in to ban cryptocurrency trading on SK exchanges.
This has seen the drop of virtually every single cryptocurrency, with Ethereum going from its record high of $1400+ to $1230 in a matter of hours.