Blockchain analytics firm CipherTrace released a report this morning showing that roughly $ 1.7 billion in cryptocurrency was stolen or scammed over the course of 2018. The amount stolen by hackers alone is staggering: over $ 950 million. The figure represents an increase of more than 300% from 2017. The scams noted in the report don’t even include individual user scams. Instead, they focus on exchange exit scams, phony exchange hacks, and ICO scams. They account for an additional $ 725 million. The Dark Downside of the Crypto Boom If you adjust for the lower prices of cryptocurrencies in 2018, as much as
A combination of cheap electricity and cold weather has started to draw a growing number of Japanese bitcoin miners to Mongolia, a country sandwiched between China to the south and Russia to the north. Amid falling mining revenues in other regions of the world due to the current crypto bear market, companies that have set up shop in Mongolia have found they can still run profitable mining operations.
GMO Internet, the Japanese technology and online finance conglomerate, presented its results for the third quarter of fiscal 2018 on Nov. 12. The presentation included new details about the performance of the Tokyo-listed group’s cryptocurrency-related businesses.
Record Performance by Quarter
The presentation covers the operations of GMO Internet in cryptocurrency mining, exchange and payments. The company reported total quarterly revenue of 2.61 billion yen ($ 22.93 million) in the third quarter. It noted that the positive results came “just a year since the launch despite the harsh external environment.”
The Texas State Securities Board has issued an emergency cease and desist order to an Australia-based cryptocurrency mining company and its affiliates. According to the order, the company represents that investments in its mining contracts are “guaranteed to 200% profit.”
Cease and Desist Order
The Texas State Securities Board on Tuesday issued an emergency cease and desist order to Sydney-based Aws Mining Pty. Ltd. and nine other respondents affiliated with the company. The entities named are Automated Web Services Mining (Aws Mining), Mycoindeal, Aws Elite, and West Texas Oilfield Cloud Miners Club.
Bitcoin (BTC) dominance is in a steady downtrend. The last few moves of capitulation seen in the market were aimed at lowering altcoin prices while Bitcoin (BTC) remains steady. As the Bitcoin (BTC) dominance chart shows, this is not going to happen anymore. In fact, the reverse is going to happen now. As Bitcoin (BTC) dominance falls, altcoins will move against Bitcoin (BTC) in order to complete their cycles. A lot of cryptocurrencies have now neared their lowest levels of dominance. Ethereum (ETH) is one of those cryptocurrencies. During the last altcoin run, Ethereum (ETH) became a market maker and breaker in June 2017. That was when its dominance was at an all time high and Bitcoin (BTC)’s dominance was at an all time low.
Many looked at the blockchain technology with reluctance as the idea it proposes undoubtedly goes against our traditional structures. Yet, in today’s world, everyone uses machinery and computers to some extent. Therefore, technology must be seen as an incremental process – from paperwork to digitalized information to blockchain. The shared ledger is a natural step for our society as the need for transparent operations is acute.
In spite of the various opinions the mainstream has about the blockchain, so far the technology proves to be more and more popular, and the crypto adoption is reaching new heights. A plethora of projects is showing how useful blockchain technology can be to our society giving its openness and transparency of transactions.
New research from Diar has revealed that while the price of bitcoin remains 40 percent higher than a year ago, and bitcoin miners have achieved record revenues of $ 4.7 billion this year, a host of factors including increased competition and computing power have combined to make bitcoin mining less profitable than before. The report says
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A hedge fund in the UK named Tiger Global which primarily invests in global consumer brands and is apparently considering a half a billion investment in Coinbase. This would boost the startup’s valuation to almost $ 8 billion and build up the image of the legitimacy of the crypto markets.
In the summer of 2017, Coinbase was worth around $ 1.5 billion. The valuation came before a spike in consumer interest in digital currencies at the end of the year.
After more than a year of runaway valuations and mind-boggling capital raises, the controversial initial coin offerings (ICOs) are beginning to face real scrutiny. According to a recent report by BitMEX Research that broke down Ethereum (ETH) holdings across projects that recently conducted ICOs, many of these projects appear to have profited after selling almost all of the […]
On September 25, CCN reported that prominent venture capital firm Andreessen Horowitz invested $ 15 million in a stablecoin network called Maker. Stablecoin is a cryptocurrency whose value remains stable by being hedged to the price of reserve currencies like the US dollar. Hence, Dai, the stablecoin of the Maker ecosystem, will always represent $ 1, regardless
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German digital currency exchange Bitcoin Group SE reported on Friday a first-half net profit increase of more than 300% to €3.32 million (~$ 3.85 million USD). The company added 86,000 new accounts of people buying and selling cryptocurrency like bitcoin and bitcoin cash in the first six months of 2018.
Bitcoin Group SE Profits Rise 300% on Increased Customer Traffic
Bitcoin Group SE today reported its net profit soared 306% to $ 3.85 million in the first half of the year as more people bought and sold cryptocurrency through the German exchange. A year earlier, profit was at $ 0.95 million.
Professional services firm Deloitte have announced a new partnership with Jupiter Chain, a partnership that is set to see the development and roll out of a new blockchain based data exchange in Southeast Asia. The system is to be designed to allow users in the area to monetise and profit from their own personal data – a solution to many personal data woes that exist in contemporary society.
The partnership will see both Jupiter Chain and Deloitte working within their own areas of expertise to come together to produce a product that can be used by many different types of person and organization.
UPbit, South Korea’s biggest crypto exchange, has seen a profit of $ 100 million in the third quarter of of 2018, despite the bear market and decline in trading volume. According to the data released by Repository of Korea’s Corporate Filings (DART) obtained by mainstream media outlet Yonhap, UPbit saw a profit of just over $ 100
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The world’s largest graphic card and chip maker Nvidia has officially put an end to its crypto venture, with the official announcement of its CFO Colette Kress. In a statement, Kress said: “We believe we’ve reached a normal period as we’re looking forward to essentially no cryptocurrency as we move forward. Our revenue outlook had
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Written By: Alex Mashinsky, CEO of Celsius Network and accomplished VoIP entrepreneur Most companies or projects that hold an ICO or token generation event (TGE) are under enormous pressure to get their tokens listed on major exchanges as quickly as possible. Most ICOs get listed in less than 3 months. But there are a number
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Bitcoin mining giant Bitmain is purportedly planning to go public on a $ 14 billion valuation. The company reportedly brought in $ 1.1 billion in net profit in the first quarter of 2018, looking at end-of-year target ranging between $ 2 and $ 3 billion.
$ 14 Billion IPO
According to an unconfirmed report published Monday, July 30, Bitcoin mining giant Bitmain intends to go public on a $ 14 billion IPO “very soon” — giving early investors, such as Sequoia Capital, an opportunity to rake in substantial profits.
Samsung has seen record growth in quarterly operating profits – an increase driven in part by strong demand for cryptocurrency mining chips.
The post How to Profit and Claim Bitcoin Forks in 2018 – The Ultimate Guide appeared first on 99 Bitcoins.
Warning: claiming and selling forkcoins involves considerable risks, and requires some advanced knowledge. By attempting these procedures, you accept all of these risks: Working with and exposing your Bitcoin private keys Installing and running certain software Trading and possibly identifying yourself on various exchanges If you don’t fully understand forks, please watch this video first: […]
A senior Turkish politician has repeated claims from the country’s deputy prime minister that it will seek to create ‘Turkcoin,’ its own national cryptocurrency.
Opposition Demands Regulation
Several weeks after the ruling Justice and Development Party’s Mehmet Şimşek suggested the idea, Ahmet Kenan Tanrikulu, deputy chair of the opposition Nationalist Movement Party and former Industry Minister, argued a method was needed to “generate revenue” from Bitcoin.
“The introduction of encouraging regulations after assessing all kinds of risks would enable us to generate revenues from the cryptocurrency market, especially from bitcoin,” he wrote in a dedicated report on the topic quoted by various outlets.