Tag Archives: bitcoins

This Cryptocurrency Miner Says It Solved Bitcoin’s Power Problem

By November 16, 2017, 9:48 AM EST A green-energy startup says it can solve bitcoin’s surging electricity consumption without boosting pollution, an issue threatening to halt the meteoric rise of the virtual currency. Austria’s HydroMiner GmbH raised $2.8 million after closing its first initial coin offering on Wednesday, according to its website. The cash will […]

Bitcoin’s Split Personality Problem May Pop the Bubble

Bitcoin’s breakups could come back to bite the digital currency. They may already be nibbling. The biggest problem is bitcoin’s theoretical 21 million limit. By my math, 20.3 million bitcoins are already in existence. What’s more, the maximum limit by my count is now 25.5 million and climbing. That’s an enormous issue for a currency […]

Bitcoin’s High Transaction Fees Show Its Limits

The Bitcoin rate spike, still alive despite bitter divisions in the community that supports the cryptocurrency, has laid bare the biggest problem with Bitcoin: Compared with fiat currencies, it’s painfully inconvenient and expensive to use as a means of payment.  Bitcoin is set up to reward users for verifying transactions. Miners who package transactions into “blocks” receive […]

Bottom in Place? Bitcoin’s Price Needs to Consolidate Gains

Bitcoin’s price is holding its ground so far today. As of writing, the world’s largest cryptocurrency by market capitalization is changing hands for $6,495, as per the CoinDesk Bitcoin Price Index. According to CoinMarketCap, the bitcoin-U.S. dollar (BTC/USD) exchange rate has dropped by 1.74 percent in the last 24 hours. Still, the small decrease hides the […]

Think bitcoin’s getting expensive? Try Zimbabwe

HARARE (Reuters) – For most investors around the world, bitcoin is a volatile and highly speculative bet. For Zimbabweans, however, the cryptocurrency seems to offer rare protection from the onset of hyperinflation and financial implosion. FILE PHOTO: People queue to withdraw money from a bank in Harare, Zimbabwe’s capital, March 8, 2017. REUTERS/Philimon Bulawayo/File Photo […]

RBI Reaffirms Its Hostility Towards Bitcoins And Cryptocurrency

Bitcoins and other Cryptocurrencies, despite their impressive run against conventional currencies Rupee/Dollar, have failed to impress the Reserve Bank of India (RBI) and the government of India. Their hostility towards the cryptocurrency continues. Responding to an audience query at a banking event on November 6, 2017, S Ganesh Kumar, Executive Director of RBI stated, “Our […]

India Drug “Cartel” Uses Bitcoins, Two Arrested: A Closer Look at Mainstream Media Libel

Reviews This week, Delhi Police accused two people of operating a drug ring, according to the Daily Mail India edition. Using the world’s most popular cryptocurrency, bitcoin, the two were able to purchase 3,635 USD worth of illegal drugs on the dark web. It is claimed such an incident is “probably the […]

Bitcoin’s Push to $8,000 Fades as Free-Money Trades Unwind

Turns out not everyone is happy with the detente in bitcoin’s civil war. While the cryptocurrency soared to a record $7,882 within minutes of news that it would avoid another split on Wednesday, the gains quickly evaporated. Bitcoin is now trading about 3 percent below where it was before a faction of the community scrapped plans […]

Bitcoin’s Exorbitant Energy Costs May Prove to Be Biggest Risk

It may not matter whether bitcoin’s a bubble. The staggering energy costs associated with “mining” the digital currency could prove to be its downfall. Even as bitcoin flirts with $8,000, the price required for mining to be marginally profitable stands at a jaw-dropping $300,000 to $1.5 million by 2022 based on current growth trends and […]

Secret Service Agent Who Stole Silk Road Bitcoins Sentenced to Two More Years for Stealing Even More

Photo: AP Shaun Bridges, the 35-year-old Secret Service agent from Baltimore who was sentenced to 71 months in prison in 2016 for stealing over $800,000 in Bitcoin during a government investigation into notorious deep-web market Silk Road, has been sentenced to an additional two years in jail for money-laundering charges, Reuters reported. Per Ars Technica, […]

Chinese (Simplified)EnglishJapaneseKorean