Bitcoin 

Bitcoin Mining Difficulty Sees Biggest 2019 Drop as Hash Rate Spikes

Bitcoin (BTC) mining difficulty adjusted downwards more than at any time since its 2018 price low on Nov. 8, data shows.  As noted by entrepreneur and cryptocurrency commentator Alistair Milne on Monday, difficulty fell by around 7% after the network’s latest readjustment.  Difficulty reveals Bitcoin network maneuvering Mining difficulty refers to the effort required for miners to solve the equations necessary to validate transactions on the Bitcoin network. A higher difficulty implies competition for block rewards is higher, while drops incentivize more participation. The mechanism functions as a self-stabilizing device…

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Bitcoin 

Bitmain CEO Ousts Co-Founder, Biggest Shareholder to ‘Save the Ship’

Altcoin Bitcoin Cash (BCH) has surged 10% in the past 24 hours after it emerged mining giant and major supporter Bitmain had fired a senior executive. Wu to staff: do not talk to Micree Ketuan Zhan In a translation of an email from Oct. 29 quoted by crypto news outlet CoinDesk, Bitmain co-founder Jihan Wu said that fellow co-founder Micree Ketuan Zhan had left the company. “Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan, effective immediately,” it reportedly read.…

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Bitcoin 

Bitcoin Price Soars 42% to $10,500 — Biggest Daily Gain Since 2011

The last 24-hours have been an absolute roller coaster for Bitcoin price (BTC). Earlier in the week, BTC swiftly dropped by 10% after failing to hold above the $8,400 support. Crypto market data daily view. Source: Coin360 By Thursday, BTC/USD was sitting on the bottom trendline of a descending wedge pattern and many investors and analysts were calling for a drop to $7,000.  A few even predicted that a revisit to the long-term support at $6,500 was on the cards. Despite the bearish bias, traders like Scott Melker and Michaël…

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Blockchain 

Broadway’s Biggest Ticket Operator to Use IBM Blockchain Against Scams

Broadway’s largest ticket operator, the Shubert Organization, is integrating a blockchain solution into its business in a forthcoming pilot targeted at combating ticket fraud. The organization, via its Telecharge and Shubert Ticketing division, has partnered with Boston-based startup True Tickets, which offers an IBM blockchain-powered mobile ticketing solution. News of the partnership was revealed in an Oct. 16 report from Fast Company. Combating ticket fraud with blockchain True Tickets, which was selected to take part in this summer’s inaugural Broadway Tech Accelerator, will see its digital ticketing service integrated into…

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Blockchain 

Ripple, Coinbase Invest in Mexico’s Biggest Crypto Exchange Bitso

Ripple, the firm behind the third biggest cryptocurrency XRP, has led an investment round in Bitso, one of the biggest crypto exchanges in the Spanish-speaking world. The first Mexican crypto exchange An early partner of Bitso, Ripple has led the new investment round to support the first cryptocurrency exchange in Mexico, the company officially announced on Oct. 14. As reported by crypto publication The Block, the new investment round also involves major investors including United States-based crypto exchange and wallet provider Coinbase, Jump Capital as well as existing investors such…

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Bitcoin 

Which Countries Have the Biggest Premiums?

Up until early 2018, major cryptocurrency markets the likes of South Korea and Japan demonstrated high premiums for Bitcoin. At the 2017 peak, when the Bitcoin price was trading at around $20,000 in the U.S. spot market, Bitcoin was being traded in South Korea’s cryptocurrency exchange market for around 26,000,000 Korean won, equivalent to about $22,000. This difference is now known as the Kimchi premium. Since then, starting with the introduction of various regulatory frameworks by South Korea to reduce regional premiums that included the prohibition of trading cryptocurrencies with…

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Bitcoin 

New Bitcoin Trading Record as Biggest Bank Embraces Petro

Venezuela’s largest bank, Bank of Venezuela (BDV), has added support for the country’s controversial Petro digital currency.  Bank of Venezuela hints at crypto wallet As cryptocurrency news outlet Decrypt reports on Sept. 13, BDV clients have discovered a new section in their online banking account dedicated to cryptocurrencies.  At present, the publication states, the only crypto wallet only caters to Petro, but as the section appears under development, speculation suggests more tokens may follow. Petro, launched by the Venezuelan government, is notionally pegged to the country’s oil reserves. The subject…

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Blockchain 

Korea’s Biggest Entertainment Company to Launch Its Own Cryptocurrency

Korean pop music giant SM Entertainment revealed plans to build its own cryptocurrency and blockchain in partnership with tech organization CTIA Labs. CT-AI Labs CEO Sang-Sik Joo announced the initiative at the developer conference of South Korean crypto exchange UpBit, local IT news outlet ITChosun reported on Sept. 4. Joo noted that they are currently discussing the project with partners who will build the platform, but the details cannot be revealed yet. SM Entertainment reportedly expects the blockchain platform to bridge the physical and virtual world. Joo commented on the…

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Ethereum 

Biggest Problems With Stablecoins, Explained

5. Potentially, but there are hurdles that stand in the way. Earlier this year, Facebook unveiled plans for Libra — a stablecoin that would be pegged to a basket of assets — including major fiat currencies such as the U.S. dollar, yen, euro and pound. The social network has the vision of enabling its billions of users to send and receive money between each other — including across borders — potentially disrupting the remittances market. However, Mark Zuckerberg, the co-founder and CEO of Facebook, has had to slam the brakes on the…

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Ethereum 

Crypto Custody Market Overview — Who Are the Biggest Players?

Cryptocurrency custody providers seem to be springing up all over the global digital landscape in 2019, and the crypto platform Coinbase emerging as the leader in the sector. At their very core, custody platforms are designed to serve as independent storage/security units that are aimed primarily at institutional investors. These solutions, more often than not, tend to make use of a combination of various hot and cold storage technologies. Also, while cryptocurrency exchanges and regular wallet systems conventionally utilize private keys (and other such security protocols) to protect an individual’s…

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