Wednesday, 3 March 2021

Tag Archives: Bitcoin

South Korea Investigating North Korea in Bitcoin Hack

SEOUL: South Korean officials are investigating whether North Korea was involved in the theft from and collapse of a bitcoin exchange in South Korea Tuesday, according to published reports. The Wall Street Journal reported late Wednesday that investigators are looking into the hack of Youbit, based in Seoul, and added ...

Read More »

Exchange giant CME’s bitcoin futures get tepid take-up in debut

NEW YORK/LONDON/SYDNEY: Bitcoin futures got a muted reception after their debut on CME Group late on Sunday, with volumes in the tens of millions of dollars in the first 12 hours of trading, as warnings about the risks of bitcoin sounded ever louder. The launch of futures by the world’s ...

Read More »

Hype over bitcoin borders on weird

LONDON: In the long history of money, there have been essentially two kinds. The first is a tangible commodity – usually, gold. The second is a “fiat currency,” created by a ruler with the power to compel use. The proposition underlying this year’s extraordinary bitcoin surge is that we are ...

Read More »

Bitcoin to consume all of the worlds energy by 2020

Bitcoin transactions are the new consumers of electricity. The amount of energy consumed in a single transaction can power up one house for a month. The cryptocurrency, Bitcoin uses electricity to make verification trades expensive. This makes transactions costly and free from frauds. In order to make the verification process ...

Read More »

Hackers steal $64 million from cryptocurrency firm NiceHash

LONDON: A Slovenian cryptocurrency mining marketplace, NiceHash, said it lost about $64 million worth of bitcoin in a hack of its payment system, the latest incident to highlight risks that uneven oversight and security pose to booming digital currencies. NiceHash matches people looking to sell processing time on computers in ...

Read More »

What Really is a “Blockchain”?

LONDON: Much has been said about the revolutionary potential of the blockchain technology. Besides its current use as the backbone to verify and record digital transactions of Bitcoin, the blockchain technology has also been touted as the technology that can replace expensive accounting and payment networks in the financial industry, ...

Read More »

Winklevoss twins become world’s first bitcoin billionaires

SINGAPORE: Tyler and Cameron Winklevoss – the Harvard University rowing twins who famously sued Mark Zuckerberg claiming he stole their idea for Facebook – have just become the world’s first bitcoin billionaires, say media reports. The 36-year-old brothers lost their case against Zuckerberg but received a settlement of US$65 million ...

Read More »

Bitcoin hits record price for a single unit

LONDON: Bitcoin’s vertiginous ascent showed no signs of abating on Monday, with the cryptocurrency soaring to another record high just a few percent away from $10,000 after gaining more than a fifth in value over the past three days alone. The digital currency has seen an eye-watering tenfold increase in ...

Read More »

Former City workers launch debit card for cryptocurrencies

LONDON: The London Block Exchange (LBX) has launched a debit card which will allow UK consumers to spend cryptocurrencies such as Bitcoin in their local supermarket. Canary Wharf-based London Block Exchange, a fintech start-up founded by a team of ex-City workers, has launched a debit card which will allow consumers ...

Read More »