Friday, August 7Your Daily Bitcoin & Altcoin News Portal
California’s Attorney General Warns People to Be Wary of Crypto Scams

California’s Attorney General Warns People to Be Wary of Crypto Scams

BITCOIN
Please share if you find this article interesting. California's Attorney General Warns People to Be Wary of Crypto Scams Xavier Becerra, California's attorney general, recently told the public to watch out for possible crooked dealings surrounding crypto and digital assets.   While broadly referencing other hacks, an Aug. 7 statement from the California Department of Justice said: "Recently, unscrupulous actors have impersonated well-known politicians, celebrities, and business executives on social media and YouTube channels in 'giveaway' scams that falsely promised, for example, to double any digital assets sent to a specific digital asset wallet." The comment, in part, refers to the recent July 15 Twitter attack, which saw a large number of influential accounts breached, incl
Ethereum Developers Discuss Potential Ways to Avoid ETC’s Fate

Ethereum Developers Discuss Potential Ways to Avoid ETC’s Fate

BITCOIN
Please share if you find this article interesting. Ethereum Developers Discuss Potential Ways to Avoid ETC’s Fate In a Core Devs meeting on Friday, Ethereum (ETH) developers discussed potential measures that could be taken to prevent successful 51% attacks from occurring. The discussion was inspired by this week’s 51% attacks on Ethereum Classic (ETC) — a network that represents the original state of Ethereum where the consequences of the DAO hack in 2016 were not reverted. The original attack, which occurred between July 31 and Aug. 1, was revealed to be a carefully orchestrated attempt at a double-spend that netted over $5 million in ETC to the attacker for a $200,000 investment in hashpower. During the call, Ethereum client developers discussed if they should take additional m
German Authorities Confiscate $30 Million in Bitcoin From Pirate Movie Site | News Bitcoin News

German Authorities Confiscate $30 Million in Bitcoin From Pirate Movie Site | News Bitcoin News

BITCOIN
Please share if you find this article interesting. German Authorities Confiscate $30 Million in Bitcoin From Pirate Movie Site | News Bitcoin News German authorities, with the help of the U.S. Federal Bureau of Investigation (FBI), have confiscated about $30 million in bitcoin from an operator of a pirate movie website. An unspecified amount of bitcoin cash was also seized. Bitcoin and Bitcoin Cash Seized The German state of Saxony’s media service announced Monday the confiscation of “bitcoins with a total value of 25 million euros [$30 million].” The seizure was in connection with a case involving the website movie2k.to, a user-contributed video directory for movies and television programs that allowed users to download pirated content. The Dresden General Prosecutor’s Office,
No One Knows Why Binance.US Is Down Right Now

No One Knows Why Binance.US Is Down Right Now

BITCOIN
Please share if you find this article interesting. No One Knows Why Binance.US Is Down Right Now Binance.US, the United States branch of major crypto exchange Binance, went down unexpectedly on Aug. 7 around 15:26 UTC time.  "At 11:26am EST, we noticed our systems not functioning as intended," BinanceUS tweeted on Aug. 7.  The tweet added: "To protect our users, we will be stopping trading, order processing, buy crypto, deposits, and withdrawals. We will let users cancel their orders 30min before we reopen trading. We expect this will take 6 hours." The platform followed up with a subsequent tweet, confirming all funds as insured, protected by the company's Secure Asset Fund, also known as "SAFU." Cointelegraph reached out to Binance US for additional details, but received no r
Bitcoin Price Briefly Crashes to $11.2K After US Jobs Data Disappoints

Bitcoin Price Briefly Crashes to $11.2K After US Jobs Data Disappoints

BITCOIN
Please share if you find this article interesting. Bitcoin Price Briefly Crashes to $11.2K After US Jobs Data Disappoints The price of Bitcoin (BTC) dropped to $11,219 on Bitstamp on Aug.7 after the U.S. stock market declined. BTC recovered quickly from the brief crash, stabilizing at above $11,600. The price of Bitcoin drops steeply on Bitstamp. Source: TradingView.com The release of new job data caused the U.S. stock market to slump in mid-day. Nonfarm payrolls rose by 1.763 million in July, surpassing Wall Street expectations by 10.6%. Despite the optimistic job data, analysts are seemingly concerned that the job market is not growing fast enough. Since the pandemic began in March, the U.S. still has 13 million unemployed individuals. A variety of factors affected Bitcoin Ove...
6 Questions for Paul Veradittakit of Pantera Capital – Cointelegraph Magazine

6 Questions for Paul Veradittakit of Pantera Capital – Cointelegraph Magazine

BITCOIN
Please share if you find this article interesting. 6 Questions for Paul Veradittakit of Pantera Capital – Cointelegraph Magazine Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week our 6 Questions go to Paul Veradittakit, a Partner at Pantera Capital. Pantera Capital is one of the earliest and largest institutional investors in digital currencies and blockchain technologies, managing over $1B at one point, and Paul focuses on the firm’s venture capital and hedge fund investments. Since joining in 2014 Paul has helped to launch the firm’s venture and currency funds, executing over 100 investments. Paul also sits on the boards of Alchemy, Staked, and
Blockchain Bites: Goldman’s Hire, Ether’s Options, Bitcoin’s Patronage

Blockchain Bites: Goldman’s Hire, Ether’s Options, Bitcoin’s Patronage

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Blockchain Bites: Goldman’s Hire, Ether’s Options, Bitcoin’s Patronage The Federal Reserve is rushing ahead with its payments platform, Russia’s largest bank is going in on blockchain and so is Goldman Sachs. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Fed Now!The Federal Reserve is working to get its FedNow payments platform up and running. Board Governor Lael Brainard said the U.S. central bank will debut its instant payment service “as soon as practically possible,” in 2023 or 2024. FedNow is being developed in response to private-sector, real-ti
Iran One-Ups the United States? Tehran Seeks Crypto Mining Dominance

Iran One-Ups the United States? Tehran Seeks Crypto Mining Dominance

BITCOIN
Please share if you find this article interesting. Iran One-Ups the United States? Tehran Seeks Crypto Mining Dominance Crypto mining in Iran is set to become even bigger with the government giving the green light for power plants to mine cryptocurrencies like Bitcoin (BTC). The news is the latest piece of positive development on the virtual currency mining front to come out of the country in the last year. Since legalizing crypto mining back in July 2019, Iranian authorities have sought to ensure market participants operate only after obtaining the required licenses. By allowing power plants to engage in cryptocurrency mining, Iran is joining other emerging hubs as the global “hash wars” gathers pace. Iran has seen an influx of miners because of its cheap electricity, catapultin
VeChain’s Latest Blockchain Application Makes Food Safer

VeChain’s Latest Blockchain Application Makes Food Safer

BITCOIN
Please share if you find this article interesting. VeChain’s Latest Blockchain Application Makes Food Safer VeChain’s newly released tool offers a suite of whitelabel services that will allow the food sector to implement on-chain safety management services. These services include traceability templates which track things like origin traceability, cross-border traceability, full-process traceability, and more. They have high hopes that the tool will be useful for many sub-sectors and products, such as fresh food, dairy, alcohol and wine, and imported food. Companies will also gain access to third-party services such as PwC, Deloitte, DNV GL, among others, to help them to reduce the cost of certification, auditing, insurance, and supply chain financial services. Lifecycle food trac
Bitcoin Market ‘Much Different Now’ as New BTC Wallets Approach 2017 Highs

Bitcoin Market ‘Much Different Now’ as New BTC Wallets Approach 2017 Highs

BITCOIN
Please share if you find this article interesting. Bitcoin Market ‘Much Different Now’ as New BTC Wallets Approach 2017 Highs New on-chain data suggests that demand for Bitcoin (BTC) from new investors is growing. Specifically, the number of new BTC addresses is nearing 2017 levels when the price hit $20,000. Brock Connelly, the CEO of RoundBlock Capital, said: “Has anyone noticed, daily active addresses (Bitcoin) is back above June 2019 levels, and approaching high of 1.29mm in December 2017. BTC market feels much different now.” Various on-chain metrics hint at a continuation of the Bitcoin uptrend, despite the digital asset’s 28% increase in the past three weeks. Buyers show renewed interest as new BTC addresses rise After the Aug. 2 Bitcoin flash crash, both BTC and Ether (