Cryptocurrency & Mining News - Page 31

The latest and most important Cryptocurrency & Mining news - Page 31.

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Largest crypto hack ever? Over $600 million in crypto stolen

Anthony Garreffa | Aug 10, 2021 8:08 PM CDT

Uh, well this isn't good at all -- decentralized finance (DeFi) project Poly Network was hacked, with over $600 million in cryptocurrency stolen by hackers.

Largest crypto hack ever? Over $600 million in crypto stolen

Poly Network was hacked and had $600 million taken from where it operates: Binance Smart Chain (BSC), Ethereum (ETH), and Polygon blockchains. Poly Network explained: "We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses".

The team at Poly tweeted out that the $600 million in assets were sent to two addresses, including them in the tweet above. But that's where things get interesting...

Continue reading: Largest crypto hack ever? Over $600 million in crypto stolen (full post)

Bitcoin reaches highest price since May

Jak Connor | Aug 7, 2021 6:55 AM CDT

The price of Bitcoin has been stuck for some months, and now the coin has finally broken through to a new high.

Bitcoin reaches highest price since May

On August 6, Bitcoin broke through to achieve a multi-month high at $43,231, which is the highest the price has achieved since May 19. The rise in the cryptocurrency's price was predicted by some market analysts using metrics from what the market did just before the 2020 bull run. According to those analysts, whales and retail investors bought large chunks of Bitcoin around this time in 2020, driving up the price.

Those same whales and retail investors seem to be doing what they did in 2020 right now. Rekt Capital, a market analyst, said, "BTC has successfully claimed the 200 day EMA as support, a long-term gauge of investor sentiment towards BTC. BTC has also successfully claimed the 21 week EMA as support, a bull market indicator. The market is getting bullish." Other market analysts have predicted that Bitcoin may reach $150,000 by September this year. More on that story can be found here.

Continue reading: Bitcoin reaches highest price since May (full post)

Exxon Mobil rumor: will accept Bitcoin at ALL gas pumps in Q4 2021

Anthony Garreffa | Aug 3, 2021 7:38 PM CDT

A big rumor has just hit: Exxon Mobil will reportedly announce that it has purchased around $5 billion in Bitcoin, and that it will begin accepting Bitcoin at all Exxon Mobil pumps through the Lightning Network starting in Q4 2021.

Exxon Mobil rumor: will accept Bitcoin at ALL gas pumps in Q4 2021

The rumor is coming from Oil and Gas News on Twitter, that tweeted: "BREAKING: EXXON MOBIL TO ANNOUNCE ~$5B #BITCOIN BUY AND PLANS TO START ACCEPTING BITCOIN AT ALL PUMPS VIA LIGHTNING NETWORK STARTING Q4 2021 - SOURCES".

This is just a rumor, and requires not a pinch but a bucket of salt... but let's say it did happen. Exxon Mobil accepting Bitcoin as payment at its pumps... it would have to be a truly game-changing decision. I don't think it'll happen as you'd hear this news from a more reputable source, but stranger things have happened.

Continue reading: Exxon Mobil rumor: will accept Bitcoin at ALL gas pumps in Q4 2021 (full post)

Bitcoin may reach $150,000 by September this year

Jak Connor | Aug 3, 2021 4:32 AM CDT

Bitcoin recently saw a rise in price but has since corrected itself by more than 8.2% after it reached $42,230. Is the famous cryptocurrency out of steam?

Bitcoin may reach $150,000 by September this year

According to a few market analysts, Bitcoin is hardly out of steam and is expected to reach new highs later in the year. Nunya Bizniz, an independent market analyst, posted some analysis on Bitcoin bullish trends over the two years it experienced its great halving, and from data, Bizniz predicted that the next Bitcoin peak will form on September 21, 2021.

For those that don't know what the great halving is, it's a pre-programmed event where Bitcoin's supply is halved every four years. Seeking Alpha financial markets contributor Ariel Santos-Alborna explained that "Both tops occurred in November and December, respectively, which could insinuate that the trigger for bear markets has more to do with taxes," and that a "more realistic" top for Bitcoin is between $88,000 and $150,000. For more information on this story, check out this link here.

Continue reading: Bitcoin may reach $150,000 by September this year (full post)

Man loses $220 million by forgetting his Bitcoin wallet password

Jak Connor | Aug 3, 2021 3:35 AM CDT

There is nothing worse than forgetting your password to an account you need to get access to, but imagine being locked out of an account that is holding your $220 million in Bitcoin.

Man loses $220 million by forgetting his Bitcoin wallet password

33-year-old software developer Stephen Thomas is experiencing that very thing as he cannot remember the password to his "Iron Key", which contains a stack of Bitcoin that he purchased back in 2011. So, what is an Iron Key? An Iron Key is developed by Kingston Technology and is a USB drive with AES-encrypted directories that only allows for ten attempts, and if ten attempts are incorrect, then the USB wipes all of its content.

The New York Times interviewed Stephen where he said, "I would just lay in bed and think about it: Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again. It was actually a really big milestone in my life where I sort of realized how I was going to define my self-worth going forward. It wasn't going to be about how much money I have in my bank account."

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First music NFT beamed up to ISS and around Earth for 90 minutes

Jak Connor | Aug 3, 2021 2:36 AM CDT

The first music NFT has been sent to the International Space Station (ISS) and around Earth before coming back down to the surface.

First music NFT beamed up to ISS and around Earth for 90 minutes

Two companies named Nanoracks LLC and Artemis Music Entertainment partnered to send a recording of composer Claude Debussy's piano masterpiece "Clair de Lune" ("Moonlight") to the ISS. Music has been created aboard the floating laboratory before, but this track is special since the companies decided to mint the track as a non-fungible token (NFT), which, according to Artemis Music representatives, makes it the first music NFT to reach orbit.

The music NFT was performed by Hong Kong-based pianist Wing-Chong at the end of last month. The original track was published in 1905 by Claude Debussy. On July 28, the music NFT was sent to the ISS, and then the digital file raced around Earth for 90 minutes, completing one lap of the planet, before coming back down to the surface to be minted as an NFT - marking this moment forever. For more information on this story, check out this link here.

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Family claims Ethereum Foundation never sent them their $6.9 million

Jak Connor | Jul 29, 2021 4:07 AM CDT

A family has claimed that the Ethereum Foundation hasn't provided them with a key file that would give them access to nearly $7 million worth of Ethereum (ETH).

Family claims Ethereum Foundation never sent them their $6.9 million

According to a GoFundMe fundraiser, Yukiko Williams claims that he and his family purchased 3,000 ETH during Ethereum's Initial Coin Offering (ICO) back in 2014. Williams goes on to explain that the Ethereum Foundation sent the family a JSON file that gives access to the wallet containing the stored ETH, but there were technical difficulties, and the family couldn't get access.

Williams states on the GoFundMe page listing, "During the 2014 Ethereum Initial Coin Offering (ICO) Event, we had purchased a total of 3000 ETH Coins because we believed it would become a leading blockchain platform. At the time of the transaction, the Ethereum Foundation was supposed to send over our JSON file, which will give us access to the Ethereum wallet that contained our coins."

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Amazon officially comments on rumors about supporting Bitcoin payments

Jak Connor | Jul 27, 2021 5:07 AM CDT

Yesterday, reports surfaced about Amazon offering cryptocurrency payments to shoppers on its platform, and now Amazon has officially commented.

Amazon officially comments on rumors about supporting Bitcoin payments

To give some context, on Jul 22, Amazon posted a job listing for a digital currency and blockchain product lead, leading people to believe that Amazon was in the midst of exploring the cryptocurrency space. Four days after the listing was posted, London's City A.M newspaper published a story that claimed an insider informed the newspaper that Amazon was "definitely" going to support Bitcoin payments and that it will launch a native token.

As you can probably imagine, the news caused the price of Bitcoin to skyrocket, gaining around 15% in less than three hours, per Wu Blockchain. Now, an Amazon spokesperson has told Reuters that the company isn't planning on accepting Bitcoin as a form of payment by the end of the year and that the "speculation that has ensued around our specific plans for cryptocurrencies is not true."

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Elon Musk drops big hint for Dogecoin that want to make a lot of money

Jak Connor | Jul 26, 2021 4:36 AM CDT

Tesla and SpaceX CEO Elon Musk has fired off two cryptocurrency-related memes, some of which are directed towards Dogecoin holders.

Elon Musk drops big hint for Dogecoin that want to make a lot of money

Elon Musk must have recently watched or re-watched The Matrix as the billionaire CEO has posted two Matrix-themed memes to his personal Twitter account. One of the memes, seen above, is directed towards Dogecoin holders, and it shows Neo from the Matrix asking a Shiba Inu-Morpheus if it's possible to make "a lot of money with Dogecoin?".

The Shiba Inu-Morpheus replies to Neo and says, "No, Neo. I'm trying to tell you that Dogecoin is money". In other cryptocurrency news, Musk recently appeared at The B Word conference, where he said that Tesla is likely to accept Bitcoin as payment for its electric vehicles again, but there is a catch. Read more on that story here. As for SpaceX, NASA has just tapped Musk's space company to launch NASA's most recent alien-hunting mission, more on that here.

Continue reading: Elon Musk drops big hint for Dogecoin that want to make a lot of money (full post)

Amazon working on its own crypto, will accept Bitcoin later this year

Anthony Garreffa | Jul 25, 2021 8:38 PM CDT

Amazon will reportedly offer cryptocurrency payments by the end of the year, with Bitcoin payments by the end of 2021 on the way according to the latest rumors.

Amazon working on its own crypto, will accept Bitcoin later this year

In a new article, an anonymous insider tells CityAM that Amazon is pushing into cryptocurrency with full strength, this isn't just some short-term plan. The insider said: "This isn't just going through the motions to set up cryptocurrency payment solutions at some point in the future - this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work. It won't take long because the plans are already there, and they have been working on them since 2019".

It will begin with Amazon accepting Bitcoin, but then it'll be joined by Ethereum, Cardano, Bitcoin Cash and "about eight of the most popular cryptocurrencies" which I'm sure will include Dogecoin. Dogecoin is already accepted at Amazon's competitor, Newegg, and is one of the most popular cryptocurrencies. Jeff Bezos founded Amazon, and Elon Musk is his competitor in space -- but a huge fan of Dogecoin to the point that Musk is called The Dogefather. Their worlds collide in so many ways.

Continue reading: Amazon working on its own crypto, will accept Bitcoin later this year (full post)