Monday, July 22Your Daily Bitcoin & Altcoin News Portal

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How Big Hydro Power Partners With Bitcoin Miners to Prevent Energy Waste – Bitcoin News

How Big Hydro Power Partners With Bitcoin Miners to Prevent Energy Waste – Bitcoin News

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Please share if you find this article interesting. How Big Hydro Power Partners With Bitcoin Miners to Prevent Energy Waste - Bitcoin News We are often told that the verification of bitcoin transactions eats a lot of energy. The largely inaccurate comparison to a small country, the size of Ireland or Denmark, is evoked thanks to numerous clickbait headlines. What mainstream media fails to explain, however, is that bitcoin mining is actually helping electricity producers prevent energy waste. Hydropower plants, for example, can generate and sell much more electricity during rainy seasons in some regions or when snow melts in others. Wastage can be mitigated through a symbiosis with bitcoin farms, at no additional cost for the environment. Also read: Three Bank Failures Open New ...
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Crypto Exchange QuickBit Confirms Data Breach That May Impact 300,000 Users

Crypto Exchange QuickBit Confirms Data Breach That May Impact 300,000 Users

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Crypto Exchange QuickBit Confirms Data Breach That May Impact 300,000 Users QuickBit, a Swedish cryptocurrency exchange listed on the NGM Nordic MTF market, allegedly leaked 300,000 customer records via an unprotected MongoDB database. The exchange confirmed the event in a series of updates on their investor relations board. The leak, detailed by security researcher Paul Bischoff, first dame to light after security aggregator Shodan noted the existence of the open database. QuickBit said that an outside contractor left the data unprotected while attempting a security upgrade. A translated excerpt from their report: QuickBit has recently adopted a third-party system for supplementary security screening of customers. In connection...
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Bitcoin Price Ends Longest Losing Streak Since December

Bitcoin Price Ends Longest Losing Streak Since December

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Price Ends Longest Losing Streak Since December View Bitcoin logged gains in the three days to July 20, snapping the longest losing streak on the three-day chart since December. The bias, however, is still bearish with prices holding below $11,080 (as per Bitstamp). Key indicators on short-duration charts are biased for a fall back below $10,000. A 4-hour close above $11,080 would activate twin bullish cues and could yield a rally to $12,000. A weekly close (Sunday, UTC) or consecutive daily close above $12,000 is needed to confirm a continuation of the bull market. Bitcoin (BTC) ended its longest losing streak in seven months over the weekend, but the outlook still remains bearish. The top cryptocurrency by market capita...
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Watch Out Ripple, SWIFT Says Its Fastest Remittance is Down to 13 Secs

Watch Out Ripple, SWIFT Says Its Fastest Remittance is Down to 13 Secs

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Please share if you find this article interesting. Watch Out Ripple, SWIFT Says Its Fastest Remittance is Down to 13 Secs The Society for Worldwide Interbank Financial Telecommunications (SWIFT) announced a successful trial of instant cross-border transfers in Asia in a press release published on July 18. Per the release, the trial performed instant payments between 17 banks located in Australia, China, Canada, Luxembourg, The Netherlands, Singapore, and Thailand, taking up to 25 seconds, with the fastest taking 13 seconds.  The tests involved communication between SWIFT’s Global Payments Innovation (GPI) instant payment platform and Singapore’s domestic instant payments solution, FAST. SWIFT also explains that its GPI instant system uses existing payments infrastructure, this is
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Crypto Bank FairX Shuts Down Citing Lack of Funds, Bleak Future

Crypto Bank FairX Shuts Down Citing Lack of Funds, Bleak Future

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Crypto Bank FairX Shuts Down Citing Lack of Funds, Bleak Future In a Twitter thread so winding that it should have been a Medium post, the founder of FairX, a so-called crypto bank, announced the company was shutting down. The tweetstorm, posted on July 19, offered a complete rundown of the problems facing a modern crypto-banking solution. The biggest problem? He ran out of cash. Let me start right off the bat by telling you our original goals of creating a licensed national bank is unfortunately failing. The immediate reason is simply a lack of funding – for the past 14 months we’ve been on a tear trying to raise money. — fairx (@fairxio) July 19, 2019 “Ultimately, our business model was simple: introduce a new, licensed, ful
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Bitcoin Network Now 8 Times More Powerful Than It Was at $20K Price

Bitcoin Network Now 8 Times More Powerful Than It Was at $20K Price

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Please share if you find this article interesting. Bitcoin Network Now 8 Times More Powerful Than It Was at $20K Price Bitcoin (BTC) now has more computing power behind its security than ever before, passing another milestone as hash rate reaches an all-time high.  Data from monitoring resource Blockchain confirmed that the Bitcoin network’s total hash rate reached a peak of 79 tera hashes per second (TH/s) on July 20.  Bitcoin network hash rate, courtesy of Blockchain.info Broadly accepted as a measure of how robust Bitcoin’s transaction security has become, hash rate has broken multiple records in recent weeks and months. As Cointelegraph reported, more recent all-time highs had come around June 21 (65 trillion TH/s) and July 1 (70 trillion TH/s).  The figure subsided over the
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Bitcoin Price Shuns Volatility as Analysts Warn of Potential Drop to $7,000

Bitcoin Price Shuns Volatility as Analysts Warn of Potential Drop to $7,000

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Please share if you find this article interesting. Bitcoin Price Shuns Volatility as Analysts Warn of Potential Drop to $7,000 Bitcoin (BTC) price saw a rare spell of stability on July 22 as cryptocurrency markets began the week on a broadly stable note.  Market visualization. Source: Coin360 Bitcoin price weekly chart settled but overbought Data from Coin360 showed hardly any change for BTC/USD in the past 24 hours, bucking a volatile trend seen throughout recent weeks. At press time, Bitcoin circled $10,600, down just 0.14% while trading in the middle of a $400 daily corridor.  Bitcoin 7-day price chart. Courtesy of Coin360 By comparison, last week saw BTC/USD trade as high as $11,060 and as low as $9,125. The motivation, analysts mostly agreed, was regulatory uncertainty as
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Crypto and FB’s Libra Are Bridges to a Bitcoin World, Says Tim Draper

Crypto and FB’s Libra Are Bridges to a Bitcoin World, Says Tim Draper

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Please share if you find this article interesting. Crypto and FB’s Libra Are Bridges to a Bitcoin World, Says Tim Draper Bitcoin (BTC) will be the ultimate benefactor from interest in Facebook Libra and cryptocurrencies, billionaire Tim Draper has said.  Bridges to a ‘Bitcoin environment’ Speaking to CNBC in an interview on July 19, Draper, who is well known as a Bitcoin advocate, defended both Libra and Bitcoin against recent pressure from governments, particularly in the United States.  Asked whether the world was now in a post-Bitcoin environment, he argued that Bitcoin represented the true innovation from the cryptocurrency world, and would ultimately be the tool that reshaped borders, finance and government power. “I think all these other cryptos are bridges to where we have
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PR: Folgory Launches Mobile App and Regulated Crypto Exchange – Bitcoin News

PR: Folgory Launches Mobile App and Regulated Crypto Exchange – Bitcoin News

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Please share if you find this article interesting. PR: Folgory Launches Mobile App and Regulated Crypto Exchange - Bitcoin News This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Crypto market trading pioneers Folgory launch fully integrated app and regulated trading exchange Tallinn, Estonia, 22nd July 2019, Folgory, the fully integrated app and trading exchange launches to bring a range of services to crypto users. The intellectual and logistical demands of trading crypto currency have hitherto been tricky at best, complex at worst. Folgory has created an easy to integrate and manage sol...
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Libra’s Biggest Problem

Libra’s Biggest Problem

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Libra’s Biggest Problem Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Among the barrage of commentary accompanying the Libra circus on Capitol Hill last week was a single short tweet from lawyer Marco Santori that summed up the core problem confronting Facebook’s cryptocurrency project – and, for that matter, any corporate-led effort of its kind. To understand why Facebook and its 27 Libra partners are in this dilemma, let’s go back to bitcoin’s roots – to the core problem Satoshi Nakamoto