Busted: Britain Confiscates $700,000 in Bitcoin from Hacker
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CryptoCoins News, 1/1/0001 12:00 AM PST A British court will this month sentence a 26 year old cyber-fraudster, from whom Scotland Yard seized about $700,000 in bitcoin proceeds earned from cyber-crime activities in 2015. The seizure of the $700,000 worth of bitcoin from Grant West last year is one of the first such seizures of cryptocurrency from any cyber-criminal in Britain. … Continued The post Busted: Britain Confiscates $700,000 in Bitcoin from Hacker appeared first on CCN |
Futures Launch Weighed on Bitcoin's Price, Say Fed Researchers
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CoinDesk, 1/1/0001 12:00 AM PST Researchers from the U.S. Federal Reserve Bank believe that the launch of bitcoin futures played a role in bitcoin's recent price slump. |
Stocks lose half their gains after President Trump announces he will give Iran nuclear decision Tuesday
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Business Insider, 1/1/0001 12:00 AM PST
Stocks surrendered half of their gains Monday afternoon following a tweet from President Donald Trump announcing he will unveil his decision on the Iran nuclear deal Tuesday. A series of merger and acquisition announcements had pushed the broader market higher earlier with financials and technology leading as consumer staples lagged. Oil surged past $70 per barrel for the first time since 2014 and the US dollar hit its highest level this year. Dow Jones Industrial Average: 24,319.52 (0.23%) S$P 500: 2,669.82 (0.24%) AUD/USD: 0.7515 (-0.28%) ASX 200 SPI futures: 6,083.0 (-0.16%) 1. President Donald Trump announced he would unveil his decision on whether the US will stay in or leave the Iran nuclear deal Tuesday, leading investors to sell off shares and the broader market to lose half their gains. 2. Mergers, acquisitions and partnerships pushed the market higher: Nestle' agreed to pay Starbucks $7.15 billion in cash plus royalties for the right to sell its coffee around the world, Paul Singer's Elliott Management hedge fund made a $160 a share cash offer to buy AthenaHealth, and Blackstone Group made an offer to buy Gramercy Property Trust in a ~$7.6 billion deal. 3. Oil prices surged past $70 a barrel for the first time since 2014 as investors speculated about whether Trump will pull out of the Iran nuclear deal and reimpose sanctions which would limit Iran's oil exports. 4. The US dollar hit its highest level this year. 5. Billionaire investor Warren Buffett criticized cryptocurrencies, saying bitcoin is "probably rat poison squared," over the weekend during Berkshire Hathaway's annual shareholder meeting. 6. Apple shares hit another all-time high, and continued to its sixth straight day of gains. The stock hit a record $186.88 in early trading Monday after Warren Buffett expressed confidence in the company, pushing it closer to a $1 trillion valuation.
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Stocks lose half their gains after President Trump announces he will give Iran nuclear decision Tuesday
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Business Insider, 1/1/0001 12:00 AM PST
Stocks surrendered half of their gains Monday afternoon following a tweet from President Donald Trump announcing he will unveil his decision on the Iran nuclear deal Tuesday. A series of merger and acquisition announcements had pushed the broader market higher earlier with financials and technology leading as consumer staples lagged. Oil surged past $70 per barrel for the first time since 2014 and the US dollar hit its highest level this year. Dow Jones Industrial Average: 24,319.52 (0.23%) S$P 500: 2,669.82 (0.24%) AUD/USD: 0.7515 (-0.28%) ASX 200 SPI futures: 6,083.0 (-0.16%) 1. President Donald Trump announced he would unveil his decision on whether the US will stay in or leave the Iran nuclear deal Tuesday, leading investors to sell off shares and the broader market to lose half their gains. 2. Mergers, acquisitions and partnerships pushed the market higher: Nestle' agreed to pay Starbucks $7.15 billion in cash plus royalties for the right to sell its coffee around the world, Paul Singer's Elliott Management hedge fund made a $160 a share cash offer to buy AthenaHealth, and Blackstone Group made an offer to buy Gramercy Property Trust in a ~$7.6 billion deal. 3. Oil prices surged past $70 a barrel for the first time since 2014 as investors speculated about whether Trump will pull out of the Iran nuclear deal and reimpose sanctions which would limit Iran's oil exports. 4. The US dollar hit its highest level this year. 5. Billionaire investor Warren Buffett criticized cryptocurrencies, saying bitcoin is "probably rat poison squared," over the weekend during Berkshire Hathaway's annual shareholder meeting. 6. Apple shares hit another all-time high, and continued to its sixth straight day of gains. The stock hit a record $186.88 in early trading Monday after Warren Buffett expressed confidence in the company, pushing it closer to a $1 trillion valuation.
Join the conversation about this story » NOW WATCH: Why Apple makes it so hard to get a new iPhone battery |
Breaking Bitcoin Conference Heading for Lisbon This Summer as “Building on Bitcoin”
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Bitcoin Magazine, 1/1/0001 12:00 AM PST The Breaking Bitcoin conference, first organized last summer in Paris, is returning for its second edition under the name “Building on Bitcoin,” this time in Lisbon, July 3–4, 2018. While the event in the French capital was centered around security, the one in the Portuguese capital will focus on second-layer technologies and other creative uses of the Bitcoin protocol. “The Bitcoin blockchain is pretty limited in terms of features and flexibility; many newcomers think you can’t build anything with it,” Chainsmiths managing director and conference co-organizer Kevin Loaec told Bitcoin Magazine. “Yet, smart people find ways to build complex solutions on top of it. It’s interesting to share that knowledge.” Second-Layer TechnologiesAfter the sold-out first edition in Paris last year, which was loosely inspired by the successful Scaling Bitcoin conference format introduced in 2015, it seemed natural that Breaking Bitcoin, too, would turn into an annual event. The French organizers — besides Loaec, French Bitcoin community member Pierre Lorcery is putting the event together — decided to slightly change the name and format for this follow-up, however. “We got good feedback [on] Breaking Bitcoin,” Loaec explained. “People were asking us when the next event would be. But we felt that organizing a conference focused around security each year may be a bit much; we don’t want to become repetitive. The plan is now to alternate: one year of Breaking Bitcoin, one year of Building on Bitcoin.” Building on Bitcoin will focus on second-layer technologies in a broad sense. The best known and most popular of these is probably the Lightning Network, of which the first implementations entered their beta stage over the past couple of months. But other areas of research and development include different types of sidechains like Liquid, RSK or drivechains; privacy technologies like TumbleBit; smart contract solutions like MAST; and more. Like Breaking Bitcoin, Building on Bitcoin will be a technical conference with relatively little room for commercial interests. “And I think we are a little bit more community oriented, focusing on people and projects, and a little less academic than something like Scaling Bitcoin,” Loaec said. Confirmed speakers so far include Bloq and drivechain developer Paul Sztorc, TumbleBit and BTCPay developer Nicolas Dorier, ZeroLink developer Ádám Ficsór, LedgerX developer and Bitcoin veteran Bryan Bishop and more. The speakers list is expected to grow over the coming weeks and months; anyone who’d like to give a talk can still submit a proposal through building-on-bitcoin.com. LisbonLike Breaking Bitcoin, Building on Bitcoin is a bit of a product of the French-speaking developer community. While Loaec and Lorcery are taking on most of the concrete organizational responsibilities, much is discussed and initiated through the CryptoFR Slack. However, this time the event is organized in Portugal, where Loaec has been living for the past year. “There’s not a big crypto-community in Lisbon yet, but I think there should be,” said Loaec. “It’s a good place for crypto people. We opened a blockchain-focused coworking space in the city center with a few people in the local community, The Block, that also hosts many events. Besides that, the quality of life is amazing, there’s quick access to the beach, the Portuguese weather is nice … and the fiscal climate is pretty good, too: no capital gains tax on crypto. Building on Bitcoin could be a good opportunity for Bitcoin and crypto-enthusiasts to come and take a look.” The event venue for Building on Bitcoin will be bigger than last year’s, Loaec further added, with the expected number of participants growing from 300 to 500, and it is 15 minutes from the Lisbon airport. Regular tickets start at €200 (~$240), though students can get in for less. The event will also be streamed and recorded for those who can’t make it. In addition, Loaec is organizing a three-day-long blockchain hackathon, Chainhack, in the week ahead of the conference, and The Block will also host some talks and meetups around the time of the conference. The author of this article will host a panel on privacy technology at Building on Bitcoin, and is part of the Programme Committee for the conference. This article originally appeared on Bitcoin Magazine. |
Bill Gates Would Love To Short Bitcoin, so Why Doesn’t He?
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CryptoCoins News, 1/1/0001 12:00 AM PST Billionaire Bill Gates is a notorious bitcoin skeptic who says he would bet against it if he could because he believes cryptocurrencies are worthless investments that people profit from by pawning their holdings off to a “greater fool” than themselves. Bitcoin a ‘Greater Fool Theory’ Investment “I would short it if there was an easy The post Bill Gates Would Love To Short Bitcoin, so Why Doesn’t He? appeared first on CCN |
CRYPTO INSIDER: Buffett says bitcoin is 'rat poison squared'
CRYPTO INSIDER: Buffett says bitcoin is 'rat poison squared'
CRYPTO INSIDER: Buffett says bitcoin is 'rat poison squared'
CRYPTO INSIDER: Buffett says bitcoin is 'rat poison squared'
Tech Tomorrow Starts Today: Creating a Blockchain-Powered City
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CryptoCoins News, 1/1/0001 12:00 AM PST This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. 2017 is widely regarded as the beginning of the blockchain era. Though the concept itself was born in 2008 with the advent of Bitcoin, it was 2017 when The post Tech Tomorrow Starts Today: Creating a Blockchain-Powered City appeared first on CCN |
GlobalData: South Korea Among the World’s Leading Markets for Blockchain Technology
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Bitcoin Magazine, 1/1/0001 12:00 AM PST The blockchain is widely considered to be one of the most revolutionary forms of technology in modern society. While it is typically used for recording financial transactions in real time, the blockchain is also being studied and explored by enterprises around the world for its abilities to store additional data in a safe and cost-effective manner. According to leading data and analytics firm GlobalData, South Korea is a solid leader in the blockchain community. Businesses like Korea Telecom (KT), for example, are already working to determine how the blockchain can be used to lessen production expenses and generate new types of revenue. Representatives of the South Korean telephone giant have already joined with Sprint and Japan’s SoftBank to launch a “blockchain-powered data roaming service” in the coming weeks. Executives say the company has big plans to use the blockchain to power “finance, IoT, smart energy and healthcare businesses.” Speaking with Bitcoin Magazine, the principal technology analyst at GlobalData, Lynnette Luna, says she believes the move will pave the way for more South Korea–based companies to implement blockchain technology into their operations, thus boosting the nation’s reputation as one of the world’s largest cyber hubs. “It dominates the local landline and broadband internet market,” she explained when describing KT’s size and breadth of power. “KT sees revenue arising from enabling the secure and efficient exchange of data among people and businesses, and by allowing people to control their own data. This is particularly attractive at a time when users are increasingly unhappy with how companies like Google control and exploit their information.” South Korea’s blockchain-friendly ecosystem is also attracting businesses from neighboring countries like Japan, whose social messaging platform Line is set to launch a blockchain subsidiary known as Unblock within South Korea’s borders. The purpose of the subsidiary will be to further study the blockchain and determine how it can best be applied to the company’s remaining divisions. Line will also make “strategic investments” in blockchain projects outside itself to potentially branch out and build applicable business partnerships. It’s a grandiose maneuver, though Luna admits she’s unsure of how Line will accomplish all its current technology goals. “Besides the U.S., Japan and South Korea are two of the most popular markets for cryptocurrency and the blockchain,” she states. “But the market is still very young, and it is unclear what Line’s foray into the blockchain will look like.” South Korea has also taken the reins in terms of blockchain and cryptocurrency regulation over the last year. Efforts initially began in December 2017 when a task force led by the Financial Supervisory Service (FSS) implemented the first official rules surrounding cryptocurrency trading in the country. This ultimately led to raids on several crypto exchanges and the investigations of government officials who were suspected of either trading digital assets prior to the government’s newfound regulations taking precedence or profiteering from government-held information. As the nation leads the blockchain revolution, neighboring regions are also taking the bait and looking into how blockchain technology can best be utilized to further cement operational security and efficiency. News recently spread, for instance, at Dubai’s Futures Blockchain Summit about the formation of the Mobility Open Blockchain Initiative (MOBI). The group is composed of multiple technology and automotive companies seeking to understand the blockchain and how it can be used to enhance vehicle production, make transportation more accessible, and bring industry costs down. The association operates through an open-source system and has invited numerous enterprises from insurance companies to government bodies to join the ranks and assist in the further development and adoption of the blockchain. This article originally appeared on Bitcoin Magazine. |
Distributed Event Series and the Let's Talk Bitcoin Network Present:
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Bitcoin Magazine, 1/1/0001 12:00 AM PST In partnership with the Distributed Event Series and the Let's Talk Bitcoin Network, "Distributed Dialogues" gives listeners a detailed look into the cryptocurrency and enterprise blockchain ecosystem by giving voice to the people, ideas and projects that make it possible. Jennifer O'Rourke on the Illinois Blockchain Initiative and the "correct" digital identity solution. This first episode of "Distributed Dialogues" features an interview with Jennifer O'Rourke, former business liaison with the Illinois Blockchain Initiative. The Initiative took a three-pronged strategy to quickly gain knowledge, facilitate development of the technology ecosystem and actively experiment with blockchain technology. The strategy focused on education, events and the state's own attempt to create roadmaps for five pilot projects using a blockchain: land title registry, academic credentials, health title registries, energy credit marketplaces and digital identity solutions. The state's exploration into digital identity solutions using a blockchain allowed them to pin point what they believe is the best model for a digital identity on the blockchain.
(Above: Proof of Identity Infographic from white paper by Australia Post and Boston Consulting Group.) "We were able to see there was a very particular type of distributed ledger best suited for this type of a use case," said O'Rourke. "And that is the model of decentralized IDs and verifiable claims, because it allows that information to be securely transmitted without actually being etched to a blockchain itself." O'Rourke believes creating a holistic, blockchain-based identity solution is the pivotal starting point. She has recently left the state organization to launch her own company, an inoperable platform for digital identity records. LTBN Round Table The Let's Talk Bitcoin Network round table features a group of Let's Talk Bitcoin Network podcasters discussing centralized blockchains, technology "sasquatches" and the best and (mostly) worst times to spend bitcoin. Additional Links: This article originally appeared on Bitcoin Magazine. |
(+) Wall Street Analyst Cautions Against Buying Bitcoin Right Now
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CryptoCoins News, 1/1/0001 12:00 AM PST The post (+) Wall Street Analyst Cautions Against Buying Bitcoin Right Now appeared first on CCN |
What you need to know on Wall Street today
Bitcoin Nearly as Bad as ‘Trading Harvested Baby Brains’, Says Berkshire VC Munger
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CryptoCoins News, 1/1/0001 12:00 AM PST Berkshire Hathaway’s bitcoin bashing barrage doesn’t show any signs of letting up. Just one day after Berkshire Hathaway chairman and CEO Warren Buffett trashed bitcoin at the legendary firm’s annual shareholders meeting in Omaha, Nebraska, vice chairman Charlie Munger unleashed a memorable rant of his own. Munger’s comments on cryptocurrency started out amicably enough, but The post Bitcoin Nearly as Bad as ‘Trading Harvested Baby Brains’, Says Berkshire VC Munger appeared first on CCN |
Starbucks is rallying after Nestle agrees to pay $7.15 billion to sell its coffee around the world (SBUX)
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Business Insider, 1/1/0001 12:00 AM PST
Starbucks is rising more than 3% in pre-market trading Monday after announcing a partnership with Nestle to expand its coffee reach. The Swiss-based food and drink company, known for Nesquik and Nespresso, will pay Starbucks $7.15 billion in cash for the right to sell Starbucks products around the world. “This global coffee alliance will bring the Starbucks experience to the homes of millions more around the world through the reach and reputation of Nestlé,” said Starbucks CEO Kevin Johnson. As a result of the new influx of money, Starbucks intends to give shareholders $20 billion in the form of buybacks and dividends through 2020. The coffee company also said the deal will also increase earnings per share by the end of 2021 or sooner. Nestle will continue to pay royalties on top of the $7.15 billion to market and distribute Starbucks products such as Starbucks coffee capsules and Teavana tea while getting the opportunity to step further into the US market. Starbucks, which is looking to expand more into international markets, will likely benefit from Nestle's international reach. The alliance between the largest and fifth largest market player in the US will bring their combined market share in coffee to nearly 20% and follows a string of deals in the highly fragmented consumer drinks category. In January, Dr. Pepper Snapple and Keurig Green Mountain announced a merger which would result in the combined company, Keurig Dr. Pepper. Starbucks shares were little changed this year ahead of the announcement.
SEE ALSO: WARREN BUFFETT: Bitcoin is 'probably rat poison squared' Join the conversation about this story » NOW WATCH: Why you should never release your pet goldfish into the wild |
Those 600 Missing Iceland Bitcoin Miners Could Be in China
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CryptoCoins News, 1/1/0001 12:00 AM PST With an inquiry to police in China, Icelandic authorities are checking to see if the 600 missing bitcoin miners from Iceland’s ‘Big Bitcoin Heist’ have surfaced in Asia. According to a report by the Icelandic National Broadcasting Service (RUV), the country’s national public-service broadcaster, the island’s police have sent Chinese police an inquiry about the … Continued The post Those 600 Missing Iceland Bitcoin Miners Could Be in China appeared first on CCN |
Another Crypto Firm Challenges India’s Bitcoin Banking Blockade
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CryptoCoins News, 1/1/0001 12:00 AM PST A second India-based company has filed a legal challenge to a new central bank policy that bars financial institutions from providing cryptocurrency exchanges with banking services. According to regional news outlet Business Standard, Flintstone Technologies Private Limited — operator of cryptocurrency trading and storage platform MoneyTrade Coin — last week filed a plea before the The post Another Crypto Firm Challenges India’s Bitcoin Banking Blockade appeared first on CCN |
Bitcoin Looks for Price Support After Failed $10K Crossover
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CoinDesk, 1/1/0001 12:00 AM PST Bitcoin is reporting losses today but only a break below $8,650 would signal a bull-to-bear trend change. |
Australian Blockchain Firm Strikes $190 Million Crypto Mining Deal
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CryptoCoins News, 1/1/0001 12:00 AM PST Sydney-based IoT Group, an ASX-listed firm, has inked a deal with the Australian reseller of Bitfury’s bitcoin mining hardware to kickstart a mining operation if it can get a decommissioned coal plant up and running again. In an announcement and disclosure on the Australian Securities Exchange (ASX) on Monday, the IoT Group revealed its subsidiary The post Australian Blockchain Firm Strikes $190 Million Crypto Mining Deal appeared first on CCN |
Billionaire Warren Buffett Calls Bitcoin 'Rat Poison Squared'
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CoinDesk, 1/1/0001 12:00 AM PST U.S. billionaire Warren Buffett has again hit out at bitcoin, this time comparing it with rat poison |
Bitcoin Drops to $9,300, Cryptocurrency Market Loses $20 Billion Overnight
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CryptoCoins News, 1/1/0001 12:00 AM PST The bitcoin price has dropped to $9,300, demonstrating another 3 percent decline in value over the past 24 hours after failing to test the $10,000 support level. The cryptocurrency market followed the short-term price trend of bitcoin and has dropped more than $20 billion overnight. Bitcoin’s Slump On May 5, the global average bitcoin price The post Bitcoin Drops to $9,300, Cryptocurrency Market Loses $20 Billion Overnight appeared first on CCN |
(+) Bitcoin Cash Jumps to Highest Level Since January Amid Controversy Surrounding Bitcoin.com
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CryptoCoins News, 1/1/0001 12:00 AM PST The post (+) Bitcoin Cash Jumps to Highest Level Since January Amid Controversy Surrounding Bitcoin.com appeared first on CCN |
Iceland's Missing Bitcoin Miners May Be In China
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CoinDesk, 1/1/0001 12:00 AM PST Icelandic police think Chinese authorities may have discovered where its 6,000 missing bitcoin mining computers have gone. |