Tag Archives: Technology

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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Split California into three states? Billionaire’s eccentric idea will get a vote

A proposal to divide the state in thirds will appear on the November 2018 ballot but is it more than a stunt? A proposal by the billionaire venture capitalist and Bitcoin investor six pieces, but reportedly paying canvassers $3 per signature. The three new states would be Northern California, roughly comprising the northern half of the state, including San Francisco, Silicon Valley and Sacramento; Southern California, stretching from Fresno to the US-Mexico border; and California, comprising six coastal counties between Los Angeles and Monterey. Tim Draper tried […]

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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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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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Singapore Startup Takes Bitcoin Into Real World With Visa

A recurring challenge for bitcoin and other cryptocurrencies is how to make them work in the real world. A Singapore-based startup says the answer is its Visa card. TenX is pitching its debit card as an instant converter of multiple digital currencies into fiat money: the dollars, yen and euros that power most everyday commerce. The company said it takes a 2 percent cut from each transaction and has received orders for more than 10,000 cards. While transactions are capped at $2,000 a year, users can apply […]

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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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Bitcoin Plunges After Plans for Split Called Off

Bitcoin continued its retreat from a record high after traders weighed in on the cancellation of a technology upgrade that threatened to disrupt the biggest cryptocurrency. Investors who were expecting the extra coins stemming from a split of the chain may be taking profits, while others who are disappointed the update was scrapped earlier this week may be switching to alternative coins, according to Charlie Lee, founder of litecoin, the fifth-largest cryptocurrency by market value. While bitcoin soared to a record $7,882 within minutes of news that […]

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Heres What the World’s Central Banks Really Think About Bitcoin

Eight years since the birth of bitcoin, central banks around the world are increasingly recognizing the potential upsides and downsides of digital currencies. The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about emergence and growth of the private cryptocurrencies that are grabbing more and more attention — with bitcoin now surging toward $10,000. The second question is whether to issue official versions. Following is an overview of how the world’s largest central banks (and some smaller […]

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Your next car will be hacked. Will autonomous vehicles be worth it?

Self-driving cars could cut road deaths by 80%, but without better security they put us at risk of car hacking and even ransoms, experts at SXSW say Youre about to drive to work. You turn on the ignition and a message on the dash lights up. Weve hacked your car! Pay 10 bitcoin to get it back. Hacking into software and then demanding a ransom to release it whats known as ransomware is not new. Finnish security expert Mikko Hypponen fully expects it to become a reality […]

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