Tag Archives: bitcoin

SEC says bitcoin and ether aren’t securities

Clarity is good.Image: ULRICH BAUMGARTEN/GETTY The world of cryptocurrency just got some much needed good news.  With the prices of bitcoin and ether on a steady downward trend, the Securities and Exchange Commission today provided hodlers with a flash of hope: Neither of the cryptocurrencies are considered securities.  SEE ALSO: The only good thing to come out of Bitcoin is this stock art cat So reports CNBC, which notes that the SEC’s head of the Division of Corporate Finance, William Hinman, delivered the news at the San […]

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Meet Erik Finman, the teenage bitcoin millionaire

Finman used his fortune to fund an educational business and hes not as awful as he seems on Instagram Erik Finman is one of the worlds youngest bitcoin millionaires an achievement hes not shy about flaunting. The 19-year-olds Instagram feed is full of ostentatious photos of himself stepping out of private jets or lying on beds covered in money with captions like: Cash so worthless compared to Bitcoin Im sleeping on it In one photo he is pictured smoking, with the caption: Sometimes you just need a […]

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Bitcoin price plunges after cryptocurrency exchange is hacked

Security fears rise as South Koreas Coinrail loses about 28m of virtual currency There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend. The worlds best-known cryptocurrency lost $500 (372) in an hour, dropping to $6,627 on the Luxembourg exchange Bitstamp, while most other digital currencies also recorded large losses. The latest attack highlights the lack of security and weak regulation of global cryptocurrency markets. Coinrail later said in a statement […]

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Bitcoin bleeds following yet another exchange hack

We're going down again.Image: traviswolfe/gettyimages The prices of Bitcoin, Ethereum, and all other major cryptocurrencies have experienced big drops in the last 24 hours, following the news that South Korean cryptocurrency exchange Coinrail has been hacked.  In a statement on its website Monday, Coinrail said that hackers stole up to 30% of the coins from its storage.  SEE ALSO: This bitcoin explainer created by AI is hilariously insane According to Coinrail, the hackers struck on June 10 and made away with a number of different cryptocoins, including […]

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UK dealer charged in US over multimillion-dollar fake Bitcoin site scam

Renwick Haddow created trendy companies and duped investors into thinking they were big successes, authorities in New York allege US authorities on Friday charged a British businessman with securities fraud, accusing him of deceiving investors over what turned out to be a fake trading platform for the cryptocurrency Bitcoin. The Securities and Exchange Commission (SEC) alleged the clandestine Renwick Haddow, a UK citizen living in New York, diverted funds invested in a phoney Bitcoin site as well as from a flexible workspace firm Bar Works into accounts […]

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Bitcoin investors hoping to make billions may end up with a sack of fool’s gold

The cryptocurrency may not be a threat to the world economy, but that should not stop regulators from protecting investors from it Sifting the Yukon river for gold was a waste of time for most of the 100,000 prospectors seeking to make themselves rich in the 1890s. The same can be said of the bitcoin miners who dream of striking it rich by getting their hands on some of the extremely lucrative and painfully elusive electronic currency. Relatively few people have managed to decipher the codes needed […]

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Iced tea company’s stock shoots up after adding blockchain to its name

The boom in Bitcoin, an electronic currency whose fanatical adherents have pushed its value to over $15,000 per digital coin has caused some very weird changes in the way people do business in the real world. For example, an iced tea company just rebranded itself as a company that does “blockchain”—the technology that makes sure all Bitcoins are unique and can’t be copied. And when it did, its stock value skyrocketed. Long Island Ice Tea Corporation is now Long Blockchain Corporation, Ars Technica reports. Long Blockchain will […]

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Is block power about to revolutionise banking? | John Naughton

Blockchain technology has the potential to bring the world of finance into the modern world. And it cant come soon enough Science advances, said the great German physicist Max Planck, one funeral at a time. Actually, this is a paraphrase of what he really said, which was: A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it. But you get the drift. […]

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What Could Kill the Bitcoin Boom

If you bought a Bitcoin in early 2017, when one cost less than $900, you could have a profit of more than 1,200 percent now. But you almost certainly didn’t do that. Perhaps you dipped in a toe in November or December, as the price hit headline-grabbing records—$10,000, then $15,000, then higher. If you were very unlucky and bought at the peak of about $20,000 on Dec. 17, you’d have lost more than 40 percent of your money as of Jan. 16, when the price was $11,200. […]

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