A US Homeland Security official has said Bitcoin is “a lot more legitimate” as dark web users move away from the virtual currency. Speaking in an interview with CNBC, the unnamed official said criminals were shying away from Bitcoin as law enforcement was “getting a lot better” at tracking them. "I think [Bitcoin]'s a lot more legitimate than people give it credit for," the official added. The issue of Bitcoin’s anonymity has long been a sticking point for illegitimate actors operating via the dark web, with more stealthy cryptocurrencies such as Monero seeing increasing numbers of Bitcoin refugees from the internet underworld. Teaming Bitcoin with “legitimacy,” however, marks a turning point in official rhetoric from US state organs, which have overwhelmingly sided with tho
A UK-based startup has announced an ethereum-powered platform aimed to reward users for sharing their transport data. DOVU, which reportedly already has notable investors on board, plans to create a secure environment for individuals and companies to share any data relating to mobility – such as location, distance traveled and weather conditions. ADVERTISEMENT According to TechCrunch, the startup has already received an undisclosed amount of funding from InMotion Ventures, an investment arm of automaker Jaguar Land Rover, and Creative England, a fund backed by the U.K. government for the support of creative industries. The data collected will be used to create more efficient services, such as combining "car data with insurance data to calculate smarter policies" or "geo
What is Bitcoin? With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence. Beware of the confusingly similar Bcash, BCH, Bitcoin Cash project. Who created Bitcoin? The firs...
Investors Pull Billions from Stocks As New Bitcoin, Crypto Options Appear The withdrawal of funds from stocks and precious metals has coincided with the massive price increase of Bitcoin and other cryptocurrencies. It seems that investors have realized that Bitcoin is a more stable ‘store of value’ investment than gold. CNBC has reported that the stock market has seen the largest withdrawal rate since 2004, with more than $30 bln being taken out of the markets over the past 10 weeks. The major withdrawal also included a huge abandoning of precious metals. Precious metals at loss Private client allocation to precious metals has seen a massive reduction, with portfolios holding 10 percent in 2013 being reduced to below two percent in recent weeks. (source: BofA Merrill L
Mercedes-AMG confirms a hybrid hypercar at the 2016 Paris motor show. CAR magazine UK reports The powertrain for the AMG hypercar, revealed at the 2017 Nurburgring 24h race ► Latest on AMG Project One hypercar ► Due to be launched at Frankfurt ► Hybridised F1 powertrain, 1020bhp We’ve had an early access sneak peek at the Mercedes-AMG Project One hypercar months before its official debut date at the 2017 Frankfurt motor show. The £2.4 million halo car is set to develop 1020bhp from its 1.6-litre F1-derived hybrid powertrain, with an approximate 20-mile all-electric range also promised. A sneak preview of AMG Project One hypercar Holed up in a hidden AMG hospitality room at the 2017 Nurburgring 24 hours, the all-new hypercar showed off a radical mid-engine design, w
Since bitcoin cash split from the bitcoin blockchain, miners have had a choice: which of two blockchains to mine? At play in their considerations are two factors: ideology and profitability. But while it's possible some miners are choosing bitcoin or bitcoin cash based on preference, a certain contingent seem to be following the money. How do we know? At block 481,824 yesterday, the bitcoin cash blockchain saw a notable difficulty adjustment. At the time, blocks were being found on bitcoin cash at a rate of about one 1-2 minutes, or less. As a result, the difficulty went up by 300%, the maximum allowed under the difficulty adjustment rules. Both bitcoin and bitcoin cash adjust difficulty downward every 2,016 blocks, though in the case of bitcoin cash, the length o
Regulations Several members of the US Congress are drafting legislation that is intended to recognize certain digital currencies and protect them against interference from the federal government. The bill, which will provide protection to cryptocurrencies that comply with certain minimum requirements to prevent them from being used by those engaged in illegal business practices like drug traffickers and terrorists, is expected to be filed in September 2017, according to DailyCaller. Based on a reliable source, at least one Republican senator and two Republican congressmen are working on the draft legislation. The legislators, however, have requested that should not be identified due to the sensitivity of the issue and the complexity of the proposed solution. Basic featur...
Ask any oldtimer, and you’ll find that masterluc is something of a legend in the Bitcoin community. His main claim to fame is that he called the top of the November 2013 Bitcoin bubble and the subsequent bear market. On December 6, with the price at $1100, he said: “Third day in a row I wake up, see charts and ask myself "Is this the end?" and third day in a row answer is "Yes.” End of first historical bullish trend 2010-2013.” Multi-year bear market If that’s not impressive enough, masterluc predicted a multi-year bear market two days prior, despite the price at the time--$1240--being an all-time high. He wrote: “Ah, of course thanks Satoshi and community, but I am still here =) Next entering point for me is in 2016-2017 year.” Just in case there was any doubt about
Loi Luu is the co-founder and CEO of KyberNetwork, a decentralized, trustless, cryptocurrency exchange. In this opinion piece, Luu discusses the challenges facing technologists seeking to popularize decentralized exchanges for cryptocurrency trading, framing liquidity as one of the key obstacles to production. The total market capitalization of cryptocurrencies is now above $137 billion, up from $16 billion at the beginning of the year. But before the world can conduct a significant amount of its transactions via cryptocurrency markets, the problem of liquidity must be addressed. Liquidity refers to the extent to which a market allows assets to be bought and sold at stable prices. Lower liquidity tends to result in a more volatile market (especially when large orders are place
After much uncertainty regarding the future of the bitcoin network, it seems we now have more clarity. After years of debating about the right thing to do for bitcoin, the community has finally taken action and has implemented the SegWit solution. The move has been seen as incredibly positive and has propelled bitcion to new all time highs. It has now been announced that the much in question SegWit2x "Hard Fork" is scheduled to happen within the next 90 days, or sometime in mid-November. The August 1st deadline has passed us quite smoothly but still to come is the network split that will double the size of each block in the blockchain. We hope this goes smoothly as well. However, some trouble is brewing under the surface. A recent update to the bitcoin Core softwa...