Monday, December 17Your Daily Bitcoin & Altcoin News Portal

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Dutch Bank Flustered Over the Amount of Electricity Bitcoin Consumes – Bitcoin News

Dutch Bank Flustered Over the Amount of Electricity Bitcoin Consumes – Bitcoin News

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Dutch Bank Flustered Over the Amount of Electricity Bitcoin Consumes - Bitcoin News Featured Dutch bank ING is flustered over the fact bitcoin consumes so much energy. Recently, the bank released a report saying bitcoin transactions consume as much electricity as a house does in a month. They seem to believe this is problematic, since traditional electronic payment methods do not use near as much energy, according to the bank. They went on to say fiat cash will still be how people get paid and pay taxes.  Also read: Bitmex Exchange and Samourai Wallet Details Plans on How to Handle Upcoming Forks How Much Energy Bitcoin Consumes An ING senior economist, Teunis Brosens, explained why power usage is so high. “By making sure that verifying transactions is a costly business, the i
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Exodus Integrates Bitcoin Cash Into Their Multi-Asset Wallet – Bitcoin News

Exodus Integrates Bitcoin Cash Into Their Multi-Asset Wallet – Bitcoin News

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Exodus Integrates Bitcoin Cash Into Their Multi-Asset Wallet - Bitcoin News Wallets Exodus, a multi-asset wallet platform, just integrated Bitcoin Cash functionality. This makes a total of 16 digital assets a user can store on the Exodus wallet. The company press release said Bitcoin Cash along with ethereum classic were added after extensive testing.  Also read: Australian Bitcoin Adoption Increases Following Regulatory Amendments The site said, “In our latest update, Exodus welcomes Bitcoin Cash (BCH) and Ethereum Classic (ETC) to our family of assets. Thanks to our extensive testing community, both assets made it through our beta program and are now released for official Exodus support!” Why Bitcoin Cash now? News.Bitcoin.com reached out to co-founder of Exodus, JP Richardso
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Former Fed Chairman Ben Bernanke Believes Bitcoin Unlikely to Succeed

Former Fed Chairman Ben Bernanke Believes Bitcoin Unlikely to Succeed

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Former Fed Chairman Ben Bernanke Believes Bitcoin Unlikely to Succeed Ben Bernanke, the former Chairman of the Federal Reserve, made his views against Bitcoin clear at a conference organized by Ripple in Toronto. Echoing the views of J.P. Morgan CEO Jamie Dimon, Bernanke feels that the decentralized nature of Bitcoin, which puts it outside government control, will trigger its downfall. Speaking at Swell, a three day conference organized by Ripple in Toronto, Bernanke said: “Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I don’t think that’s going to be a success.” He attributed the current run up in price of Bitcoin to its speculative nature and felt that Bitcoin hasn't proven itself as a transactional currency. In his opinion the
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Ethereum, Blockchain Can Help Building Decentralized Workforce Network

Ethereum, Blockchain Can Help Building Decentralized Workforce Network

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Ethereum, Blockchain Can Help Building Decentralized Workforce Network Today’s workforce is as centralized as it can possibly be. According to a report by census.gov, 51.6 percent of the US population works at large enterprises. In order to increase efficiency as far as possible, these corporations often have large headquarters and rigid lines of command. However, with the advent of the internet, there has been a strong shift away from this model, towards freelancing. This semi-decentralized type of work has made it possible to complete certain tasks much more efficiently. It also enabled businesses to massively cut costs by centralizing only key operations. Companies like Uber and Airbnb have already effectively applied this model and disrupted entire industries in the process. Rec
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The Digital Asset Exchange Huobi Pro Provides Users With Fork Plans – Bitcoin News

The Digital Asset Exchange Huobi Pro Provides Users With Fork Plans – Bitcoin News

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The Digital Asset Exchange Huobi Pro Provides Users With Fork Plans - Bitcoin News News Huobi the cryptocurrency exchange based in China announced its Segwit2x contingency plans for the firm’s trading platform Huobi Pro. The exchange details that it plans to support all the tokens that derive from the planned Segwit2x hard fork. Also read: JP Morgan Boss Can’t Stop Talking About Bitcoin — Calls Investors “Stupid” Huobi Pro Will Support All Coins Deriving from the Segwit2x Hard Fork On October 17 the trading platform Huobi Pro revealed its decision-making process concerning the upcoming fork scheduled for mid-November. The company says it remains dedicated to providing first-class digital asset trading services, and dealing with forks is no different. “Huobi Pro does not have th
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Smart Regulation Could Make Russia Next Major Bitcoin Market

Smart Regulation Could Make Russia Next Major Bitcoin Market

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Smart Regulation Could Make Russia Next Major Bitcoin Market Russia could evolve into the next major Bitcoin market, as the government continues to encourage Bitcoin mining and moves closer towards regulating its cryptocurrency exchange market. Russia’s plan Earlier this week, Cointelegraph revealed that Russian President Vladimir Putin approved the launch of CryptoRuble, a cryptographically-secured state-issued national digital currency. Minister of Communications Nikolay Nikiforov said: “I confidently declare that we run CryptoRuble for one simple reason: if we do not, then after two months our neighbors in the EurAsEC will.” Several analysts have speculated that the launch of CryptoRuble would likely lead to a nationwide ban on Bitcoin and other cryptocurrencies. However, accor
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Bittrex Exchange Breaks Silence on Banned Accounts, Questions Remain

Bittrex Exchange Breaks Silence on Banned Accounts, Questions Remain

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Bittrex Exchange Breaks Silence on Banned Accounts, Questions Remain Following Cointelegraph’s coverage yesterday, Bittrex finally made a public statement about the thousands of accounts they’ve disabled. According to Bittrex’s website: “We occasionally conduct compliance reviews and are working vigilantly to protect our service and our users from harm. As part of a compliance review, we have temporarily suspended certain accounts pending the completion of the review. The total number of suspended, closed, or banned accounts is very limited: less than 0.1% of the total accounts on Bittrex.  More than 99.9% of Bittrex accounts are unaffected.” Of course, everybody realizes that the vast majority of Bittrex’s accounts are working just fine. The problem is that thousands of accounts-
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Fiat-like Convenience for Crypto Users Has Arrived

Fiat-like Convenience for Crypto Users Has Arrived

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Fiat-like Convenience for Crypto Users Has Arrived The saying goes that “cash is king,” but that doesn’t seem to be the case any longer. The mobile payment industry is projected to grow to over $1 trln in 2019,  rising to $3 trln by 2022, according to research firm Statista. Even more promising for mobile payments is the demographics of that growth. India already has 98% of economic transactions being conducted electronically and China has a similarly high percentage. With the increase in economic development in these countries, the demand for effective mobile solutions is going to be substantial. Add to this the huge demand for cryptocurrency in many parts of the world. Not only in the West has crypto grabbed headlines, but also in Asia (notably China, where enthusiasm for mining a
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Industries That Are Nailing Blockchain Already

Industries That Are Nailing Blockchain Already

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Industries That Are Nailing Blockchain Already The cryptocurrency market has been experiencing exponential growth throughout 2017. With Ethereum making the jump from $40 to $320 at the time of writing, and Bitcoin shattering previous records with all-time highs, plus eight other cryptocurrencies with a total market capitalization over $1 bln, the entire ecosystem has reached a market value of over $170 bln. Image: coinmarketcap While the value of cryptocurrencies and associated projects continues to grow, the underlying technology behind the digital assets, Blockchain, has been implemented in the worlds of financial services, supply chain logistics, healthcare, music, and more. Blockchain technology represents a potential disruption of nearly every conceivable industry, even being e...
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Abkhazia Will Create Own Crypto and Abandon ‘Normal Money’

Abkhazia Will Create Own Crypto and Abandon ‘Normal Money’

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Abkhazia Will Create Own Crypto and Abandon ‘Normal Money’ The unrecognized breakaway republic of Abkhazia is issuing its own cryptocurrency and could “abandon normal money in several years.” The little-known country, formerly part of Soviet Georgia before a bloody independence war in the 1990s, is still not considered real by the international community. With the help of Blockchain and continuing support from Russia, however, Abkhazia’s economy minister Adgur Ardzinba confirmed the ambitious plans at a Moscow conference last week. Abkhazia, which relies heavily on Russian funding, is looking to use Abkhazian Republic Coin (ARC) to aid investment, and offer transparent municipal financial operations. The cost, according to a presentation in Moscow, is around $1 bln, local news outle