thenextweb.com Archives - 22 January 2018, Monday

  • Bitcoin has officially abandoned its claims for fast transactions at low fees... for now

    Bitcoin has officially abandoned its claims for fast transactions at low fees

    thenextweb.com 22 Jan '18, 12pm

    One of the things that got people excited about Bitcoin in the first place was its promise to deliver fast peer-to-peer transactions at a fraction of standard fees. But following its foray into the mainstream, the cryptocurrency has consistently struggled with slow transfers and exces...

  • Why a Bitcoin future will always end up in centralization

    thenextweb.com 21 Jan '18, 8pm

    UPDATE: I’m receiving a lot of feedback (which is fantastic) regarding the fact that the price of technology will drop and so these numbers are not as much of a concern. This is a valid point and I highlighted as much in my conclusion. However, Bitcoin is being adopted rapidly and if ...

  • Boats and bros: Bitcoin's millionaire millennials smell like the 1980s

    Boats and bros: Bitcoin’s millionaire millennials smell like the 1980s

    thenextweb.com 20 Jan '18, 12am

    Here come the Bitcoin bros, partying hard and snarfing some marijuana cigarettes, or whatever 20-year-old millionaires do. Except, this isn’t the 80s and we can’t prove there’s any cocaine. A recent yacht party saw 600 enthusiasts travel to exotic Thailand in a swank affair complete w...

  • How BitConnect pulled the biggest exit scheme in cryptocurrency

    thenextweb.com 17 Jan '18, 7pm

    In a menacing turn of events yesterday, Bitcoin investment lending platform BitConnect abruptly announced it is shutting down its lending and exchange services. But while this sudden “curveball” might have come as a massive surprise for thousands of gullible investors, the writing was...

  • Bitcoin plunges by 10% as South Korea clamps down on local exchanges

    Bitcoin plunges by 10% as South Korea clamps down on local exchanges

    thenextweb.com 11 Jan '18, 7am

    South Korean law enforcement agencies are raiding local cryptocurrency exchanges to look into tax evasion, while the government is simultaneously considering banning the trade of virtual currencies there, reports Reuters . Unsurprisingly, the value of Bitcoin has taken a hit in light ...

  • Reddit admits its email provider was hacked to steal Bitcoin Cash tips

    Reddit admits its email provider was hacked to steal Bitcoin Cash tips

    thenextweb.com 05 Jan '18, 4pm

    Following a brigade of spooked Redditors reporting hacked accounts and missing Bitcoin Cash tips, Reddit has now revealed the results of its internal investigation – and it doesn’t look good. A hacker purportedly breached the platform’s third-party password reset system, forcing acces...

  • Multiple Bitcoin debit card providers suspend service under orders of Visa

    Multiple Bitcoin debit card providers suspend service under orders of Visa

    thenextweb.com 05 Jan '18, 1pm

    The Bitcoin community is reeling after several pre-paid crypto debit card providers abruptly suspended service. The companies affected include Bitwala, Cryptopay, Wirex, and TenX. These services allow individuals to spend cryptocurrencies — predominantly Bitcoin — in traditional brick...

  • Bitcoin's first block was mined 9 years ago today, the reward was 50BTC

    thenextweb.com 03 Jan '18, 3pm

    It has been a wild run, but today marks precisely nine years since the cryptocurrency train took off: January 3, 2009 was the day when the Bitcoin blockchain network had its very first block mined – the primordial block #0 . The first-ever transaction was timestamped at 6:15PM (server...

  • Why you should consider doing business in Singapore

    thenextweb.com 01 Jan '18, 10pm

    Whether you’ve been debating global expansion for an existing enterprise or are ready to invest in a brand-new startup, there are several reasons Singapore has become an attractive location for American entrepreneurs. According to Fortune, the ASEAN nations (Association of Southeast A...

  • Why you should consider doing business in Singapore

    thenextweb.com 01 Jan '18, 10pm

    Whether you’ve been debating global expansion for an existing enterprise or are ready to invest in a brand-new startup, there are several reasons Singapore has become an attractive location for American entrepreneurs. According to Fortune, the ASEAN nations (Association of Southeast A...

  • Bitcoin needs to prepare for the attack from banks and governments

    thenextweb.com 26 Dec '17, 8am

    “ The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be ...

  • Why Bitcoin And Cryptocurrencies Are The Next Public Relations Landmine

    thenextweb.com 18 Dec '17, 6pm

    Public Relations is an industry that doesn’t do its research of the reporters it’s pitching, let alone its clients. It’s easy to skimread a few things and then say yes, client, I will take this on, I can make you a star, without the real knowledge backbone to say that you can confiden...

  • Whoever created Bitcoin is now among the world's 50 richest people

    Whoever created Bitcoin is now among the world's 50 richest people

    thenextweb.com 18 Dec '17, 9am

    When it reached a high of $19,771 yesterday, Bitcoin made the creator of the cryptocurrency the 44th richest person on the planet – if you go by Forbes’ list , noted Quartz . The problem? Even after eight years since it was launched, we still don’t know who that is. Over the past few ...

  • The death of net neutrality could be the end of Bitcoin

    thenextweb.com 15 Dec '17, 2am

    FCC head Ajit Pai has always been the scumbag hiding in plain sight. While his weasel-like nature may have never been in question, this week’s sneak attack on net neutrality put to bed any doubt. After assuming his final form as Satan, Pai effectively killed the internet as we know it...

  • Bitcoin philanthropist sets up $85M investment fund to support charities

    Bitcoin philanthropist sets up $85M investment fund to support charities

    thenextweb.com 14 Dec '17, 11am

    We have all heard the rags to riches success stories that often circulate within the cryptocurrency community, but not like this. Instead of splurging out on luxurious cars and houses, one early Bitcoin adopter is using the wealth he accumulated to set up an $85 million investment fun...

  • Bitcoin heads to Wall Street as CBOE launches futures

    Bitcoin heads to Wall Street as CBOE launches futures

    thenextweb.com 11 Dec '17, 7am

    Bitcoin finally arrived on Wall Street with the launch of the Chicago Board Options Exchange’s (CBOE) futures for the cryptocurrency on Sunday. Within hours of the exchange kicking off trading for Bitcoin futures at 6PM ET, they soared by 25 percent – triggering a five-minute trading ...

  • Bitcoin exchange NiceHash robbed of $64 million from its wallet

    Bitcoin exchange NiceHash robbed of $64 million from its wallet

    thenextweb.com 07 Dec '17, 5am

    As the value of Bitcoin soars, it also turns holders of large volumes of the currency into prime targets for thieves. That’s what appears to have done in NiceHash , a Slovenia-based Bitcoin exchange that claims its cryptocurrency wallet has been cleared out of $64 million worth of BTC...

  • Revolut now lets you cheaply trade Bitcoin, Litecoin, and Ethereum

    Revolut now lets you cheaply trade Bitcoin, Litecoin, and Ethereum

    thenextweb.com 06 Dec '17, 2pm

    UK banking startup Revolut has entered the cryptocurrency space. The challenger bank just announced it will let customers buy, trade, and exchange three major cryptocurrencies — Bitcoin , Litecoin, and Ether — in a range of major fiat currencies. Trades and purchases take place within...

  • Bitcoin blasts past $12,000 for the first time

    Bitcoin blasts past $12,000 for the first time

    thenextweb.com 06 Dec '17, 4am

    Perhaps even more notable is that CoinDesk’s Bitcoin Price Index shows that the cryptocurrency’s market capitalization – the valuation of all Bitcoins in circulation – has now crossed $200 billion for the first time ever. That should certainly put a smile on the Winklevoss twins’ iden...

  • Bitcoin keeps crushing records as its price hits $10,000

    thenextweb.com 28 Nov '17, 11am

    It’s official: Bitcoin has finally crossed the $10,000 mark. The price of the popular cryptocurrency currently stands at $10,032 , according to stats from Coin Market Cap. This milestone comes only days after the biggest cryptocurrency by market share hit $9,000 for the first time eve...

  • The death of net neutrality could be the end of Bitcoin

    thenextweb.com 28 Nov '17, 1am

    FCC head Ajit Pai has always been the scumbag hiding in plain sight. While his weasel-like nature may have never been in question, this week’s sneak attack on net neutrality put to bed any doubt. After assuming his final form as Satan, Pai effectively killed the internet as we know it...

  • The current state of Bitcoin and Ethereum

    thenextweb.com 23 Nov '17, 8pm

    In its current state, Bitcoin isn’t much more than a speculation vehicle, something to be bought and sold on exchanges (whose trades happen off-chain and therefore aren’t affected by the long confirmation times). Few people need to use it. There aren’t many companies building on it. I...

  • Bitcoin mining consumes more electricity than 20+ European countries

    thenextweb.com 23 Nov '17, 12pm

    As Bitcoin continues its stride towards mainstream adoption, it turns out that its surging price rates are not the only thing experiencing a sudden increase. New research indicates that the popular cryptocurrency now consumes more electricity than more than 20 countries in Europe. Res...

  • Crypto exchange desks freeze Bitcoin trading ahead of Segwit2X hard fork

    thenextweb.com 17 Nov '17, 11am

    Following months of cagey quarrels within the Bitcoin community over a controversial software update known as Segwit2X, the scheduled update was abruptly suspended last week , after a number of leading cryptocurrency entrepreneurs decided to withdraw their support for the initiative. ...

  • UK threatens to shut down popular Bitcoin investment site BitConnect

    thenextweb.com 13 Nov '17, 12pm

    It turns out Ethereum founder Vitalik Buterin might have been right to suggest popular Bitcoin investment platform, BitConnect, has been running a Ponzi scheme after all: the UK Registrar of Companies has threatened to shut down the dodgy platform and dissolve its operation. BitConnec...

  • Bitcoin community suspends controversial Segwit2X hard fork

    thenextweb.com 09 Nov '17, 11am

    In a fortuitous turn of events, leading Bitcoin entrepreneurs and influencers have reached an agreement to hold off the highly controversial Segwit2X hard fork software update due to lack of consensus within the cryptocurrency community. The suspension was announced yesterday in a tho...

  • Cryptocurrency enthusiasts refuse to accept Segwit2X as the future of Bitcoin

    Crypto enthusiasts refuse to accept Segwit2X as the future of Bitcoin

    thenextweb.com 08 Nov '17, 4pm

    The upcoming Segwit2X hard fork has certainly become a hot topic in the Bitcoin and larger cryptocurrency community over the last few weeks, splitting hardcore crypto-enthusiasts in two opposing camps – those in favor of 2X and those against it. But despite numerous heated debates, th...

  • Goldman Sachs VP predicts Bitcoin could soon hit $8,000

    Goldman Sachs VP predicts Bitcoin could soon hit $8,000

    thenextweb.com 07 Nov '17, 1pm

    The break-neck speed rally of Bitcoin has left investors wondering where Bitcoin would finally stabilize. Goldman Sachs believes that $8,000 would be the consolidation level for the current rally. Bitcoin’s price may have smashed through the $5,000 , $6,000 and $7,000 levels over the ...

  • Segwit2X is the biggest attack on Bitcoin so far

    thenextweb.com 07 Nov '17, 12pm

    Core devs own Bitcoin and most are working for free on this great open source project. Which means that their financial incentive is doing what’s best for Bitcoin in the long run. The CEO’s of the NYA companies all pivoted away from Bitcoin. Jihan created and supports BCash, Roger Ver...

  • Ethereum's Vitalik Buterin: Biggest Bitcoin investment platform is a 'ponzi'

    thenextweb.com 03 Nov '17, 5pm

    Any avid cryptocurrency enthusiast has heard about the new cool kid on the block, BitConnect – a bullish Bitcoin lending investment platform with a bludgeoning user base and a bullish market cap of over $2 billion . But despite its stunning success, the company, which launched through...