Bitcoin ‘halving’: What does the much-hyped event mean?

Posted by & filed under Bitcoin, crypto-currency.

Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created. The world’s biggest cryptocurrency’s so-called “halving” happens roughly every four years. The digital currency relies on what are known as “miners”, who run software that races to solve complex maths puzzles in return for Bitcoins. Monday’s halving… Read more »

Is blockchain living up to the hype?

Posted by & filed under Bitcoin, Blockchain.

Is blockchain – the technology underpinning the cryptocurrency – is fulfilling its promise, or a tech still looking for a better reason to exist. There have been some very grandiose claims made about blockchain. Source: BBC Business Technology Date: January 16th, 2020 Link: https://www.bbc.com/news/business-45919700 Discussion 1) Do you understand what the difference is between Bitcoin and Blockchain? 2)… Read more »

Coca Cola Using Blockchain for $21-Billion-Per-Year Network

Posted by & filed under Bitcoin, Blockchain.

With blockchain, Coke One North America expects to reduce the duration of order-reconciliation from 50 days to just a few days. An inter-organizational, transparent distributed ledger will give real-time insights into the transactions made by all the different bottlers on the network, which generates over $21 billion in revenue per year. Source: CoinTelegraph Date: November… Read more »

Bitcoin Mining Now Consuming More Electricity Than 159 Countries

Posted by & filed under Bitcoin.

  Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst.   However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity… Read more »

What Do Cryptocurrencies Have to Do with Trust?

Posted by & filed under Bitcoin, Blockchain.

Bitcoin and other “cryptocurrencies” have been much in the news lately, in part because of their wild gyrations in value. Michael Lee and Antoine Martin, economists in the New York Fed’s Money and Payment Studies function, have been following cryptocurrencies and agreed to answer some questions about digital money. Source: Federal Reserve Bank of New York… Read more »

China Quietly Orders Closing of Bitcoin Mining Operations

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Bitcoin can’t catch a break in China.  Chinese authorities ordered the closing of operations that create a large share of the world’s supply of bitcoin, tightening a clampdown that has already shuttered exchanges for the trading of cryptocurrencies in China.  A multiagency government task force overseeing risks in Internet finance issued a notice last week ordering local authorities… Read more »

Bitcoin Cash deals frozen as insider trading is probed

Posted by & filed under Bitcoin, crypto-currency.

One of the US’s leading crypto-currency exchanges is carrying out an insider trading investigation.  Coinbase fears its own workers may have exploited its move into Bitcoin Cash – a spin-off of the original Bitcoin.  The San Francisco-based firm announced the move after Bitcoin Cash’s price jumped.  Coinbase began letting its users buy, sell, send and receive Bitcoin Cash on Tuesday… Read more »

What exactly is an ICO?

Posted by & filed under Bitcoin, crypto-currency.

In simple terms, an initial coin offering is an unregulated means to raise funds for a new crypto-currency business. It allows investors to buy newly created tokens – known as coins – issued by a venture in return for more established virtual currencies, such as bitcoins or ethereum. It is often compared to an IPO… Read more »

Hackers hit San Francisco transport systems

Posted by & filed under Bitcoin, Cyber Security, Fraud, IT Security.

San Francisco’s transport agency has been hit by a hack attack that led to customers being able to travel for nothing. The hackers have made a ransom demand of 100 Bitcoin, which amounts to about $70,000 (£56,000 ; €66,000).  As a precaution, staff shut off all ticketing machines on the network. Source: BBC Technology News Date: November 29th,… Read more »