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...
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...
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
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
Please share if you find this article interesting. Using the Awesome Oscillator to Find Bitcoin Buy and Sell Signals Few trading tools are as simple and as elegant as the “Awesome Oscillator.” First developed by American trader Bill Williams, the aptly named Awesome Oscillator (AO) is a momentum indicator that takes advantage of an immediate trend. The AO plots its data using a histogram, similar to how the MACD histogram functions, in that it delivers a buy and sell signal when the bars pass above or below the neutral 0 line. But that is just one of its main features, the others involve taking stock of an asset’s momentum as well as any immediate change noticed via patterns on the histogram (more on that later). First, let’s take a quick look at the formula involved: Median Pri
Please share if you find this article interesting. A Suspect Crypto Site Stole My Identity – and I’m Furious This week, I was hurled into the ranks of the unfortunate people who have had their identities stolen by a dodgy crypto enterprise – and, as the above headline indicates, I’m pissed. As I was informed by a well-wisher via an email this week, I am being advertised as an “advisor” to a supposed cryptocurrency project called “US Veteran Token” (USVT) that insinuates that it in some way supports the men and women that have admirably served their country in the military. But it appears to all be a ruse. A big fat fake. The sender of the email informed me that, not only had I been linked to the website, but members of his team had also had their bios stolen and posted on the sit
Please share if you find this article interesting. UK Thieves Burgle Bitcoin Center, Find Zilch In a daring, if baffling, evening raid thieves allegedly broke into the so-called Bitcoin Embassy on Formans Road in the U.K. city of Birmingham. The thieves attacked at 10pm on July 15, according to the Birmingham Mail. Recorded and posted to Facebook, the daring late-evening attack netted the thieves what looked like, at first, either lengths of receipt tape from a bitcoin ATM – an ATM owned by the decidedly unappetizing Shitcoins Club – or, less likely, an decidedly pessimistic length of toilet paper. The truth, however, is more mundane. Adam Gramowski, CEO of Shitcoins.club, said that the ATM in Birmingham was a smaller model and that they had run it since September, 2018. He said
Please share if you find this article interesting. What It’s Like to Review Bitcoin’s Code On June 19, Chaincode developer John Newbery gathered a group of developers to examine a proposed change to bitcoin’s code. Taking place via Internet Relay Chat (IRC), the topic was whether the change, which would help prevent a group of rogue miners from inflating bitcoin’s money supply, is a positive one with limited security risks or adverse impacts. Newbery’s goal, then, is to pass on what he knows about reviewing such code. Was this ‘timewarp attack’ stopper a solid change? “The timewarp exploits this by pushing the difficulty adjustment block way into the future, and then the next block back into the present,” Newbery wrote, explaining the attack vector. But the fact that Newbery is
Please share if you find this article interesting. Short of Target: Bitcoin’s $1K Rally Still Leaves Bear Bias Intact View Bitcoin’s short-term outlook will remain bearish as long as prices remain below $11,080 resistance. A break above that level would invalidate bearish lower-highs setup. The bulls may have a tough time forcing a break above $11,080 amid news of BitMEX exchange facing a regulatory probe and talks of harsher crypto regulation. Prices could drop below $10,000 in the next 24 hours with daily chart indicators continuing to report bearish bias. A weekly close (Sunday, UTC) above $12,000 is needed to revive the bullish view. Bitcoin (BTC) has rallied sharply in the last 24 hours, but the outlook remains bearish with prices holding below key resistance around $11,080.
Please share if you find this article interesting. Altcoins Back on the Rise With Litecoin Leading the Charge The crypto markets are once again back on the rise with litecoin (LTC) leading the way in the top 10 cryptocurrencies at CoinMarketCap. The price of bitcoin (BTC) jumped by more than $1,000 in the expanse of 30 minutes yesterday, with the rest of the market following suit, rising between 5-20 percent, while Litecoin (LTC) outperformed all other top 10 crypto by market capitalization. LTC is up 13 percent over a 24-hour period and is currently changing hands just above the $100 resistance at $100.72. Top 10 at CoinMarketCap For now, the broader markets are flashing green, a welcome sight for the bulls who managed to stem the bleeding across the board with BTC defending a