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Bitcoin Cash is set to hard fork, and people are losing their cool

sudshr47 November 14, 2018

Nothing says the future of finance like a good old-fashioned meltdown, and the upcoming bitcoin cash hard fork has that in spades. This is thanks, in no small part, to a man named Craig Wright.

Wright, derisively known as “Faketoshi” for his dubious claim that he is in fact Bitcoin creator Satoshi Nakamoto, has gone on a strange rant in support of his version of Bitcoin Cash’s (BCH) future known as Bitcoin SV (Satoshi’s Vision).

Deep into a rambling, multi-day tweet bender, Wright has taken it upon himself to spew invective at anyone he believes threatens his plans for Bitcoin SV — especially those defending the Roger Ver-backed rival project Bitcoin ABC. Read more…

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Hublot’s new watch is a perfect fit for Bitcoin millionaires

sudshr47 November 6, 2018

Here’s something you can proudly wear to you next cryptocurrency yacht cruise.

Swiss luxury watch maker Hublot is celebrating the 10th birthday of Satoshi Nakamoto’s Bitcoin whitepaper with a watch that screams “Bitcoin.”

The Hublot Big Bang Meca-10 P2P, as it’s unironically called, is a 45mm wristwatch with a case made out of microblasted and polished black ceramic, with a skeleton dial (meaning you can see the watch’s innards) and 10ATM water resistance.

The movement is automatic — Hublot’s own HUB1201 — and the watch has a 10-day power reserve. Read more…

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Satoshi Nakamoto’s Bitcoin whitepaper turns 10

sudshr47 October 31, 2018

On Oct. 31, 2008 an unknown person or group of people known by the pseudonym Satoshi Nakamoto published a paper called “Bitcoin: A Peer-to-Peer Electronic Cash System.”

Ten years later, we still don’t know the true identity of Satoshi Nakamoto, but pretty much everyone knows about Bitcoin.

Bitcoin has had plenty of good days and plenty of bad days in the last decade. Its price has reached crazy heights (nearly $20,000 at its peak in Dec. 2017), and fallen into the gutter — numerous times. It’s been lauded as the future of money, and it’s been called a pyramid scheme and a fraud. And while it hasn’t fulfilled the lofty of promises made by its evangelists yet, ten years after its inception it still endures. Read more…

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Crypto exchange Coinbase is now valued at $8 billion after a big funding boost

sudshr47 October 31, 2018

One of the most popular cryptocurrency exchanges, the U.S.-based Coinbase, announced on Tuesday that it has raised $300 million in a new round of financing.
The round, led by Tiger Global Management, values the company at more than $8 billion.&…

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Even walking Bitconnect meme Carlos Matos is now calling bitcoin a scam

sudshr47 October 26, 2018

You know you’re in trouble when you’ve lost Carlos Matos.

The walking meme made famous by his unbridled enthusiasm for Bitconnect, a cryptocurrency project strongly resembling a Ponzi scheme that shut down its lending and exchange platform in January, is now here to offer some measured words of caution. Namely, stay the hell away from bitcoin.

“Bitcoin Is A Scam,” he tweeted on October 26. “Sell Everything It’s NEVER Going Back Up”

Bitcoin Is A Scam. Sell Everything It’s NEVER Going Back Up

— Carlos Matos (@CarlosMatos80) October 26, 2018

Matos, of course, is best known for promoting a likely scam himself. He launched into meme infamy in October of 2017 after a video of him singing Bitconnect’s praises went viral. Read more…

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Sudden price drop shows largest ‘stablecoin,’ Tether, isn’t so stable after all

sudshr47 October 15, 2018

I mean, it’s right there in the name.

The largest so-called stablecoin by market cap, Tether (USDT), is supposedly pegged to the U.S. dollar and always worth $1. However, if there’s one thing we know for sure about the world of cryptocurrency, it’s that things don’t always go according to plan — a fact emphasized by Tether’s sudden plunge in value over the last 24 hours.

The stablecoin briefly traded below $.87 on the exchange Bittrex before climbing back up to the still-abysmal price of $.915 at the time of this writing.

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China is capable of destabilizing or destroying Bitcoin, new research suggests

sudshr47 October 9, 2018

In 2008, Bitcoin was envisioned by its pseudonymous founder Satoshi Nakamoto as a trustless, decentralized peer-to-peer electronic cash system.
Ten years and numerous crazy price jumps later, Bitcoin appears to have withstood the test of time. …

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A major cryptocurrency exchange is trolling the New York attorney general

sudshr47 September 19, 2018

It probably wasn’t the smartest move.

Roughly 24 hours after a major report from the New York state attorney general’s office led officials to declare that the cryptocurrency exchange Kraken is “possibly operating unlawfully in New York,” the exchange apparently decided the best response was to thumb its nose at state officials.

In a series of tweets from both the official Kraken Twitter account and the company’s co-founder and CEO, Jesse Powell, the San Francisco-based exchange made it clear that it’s not taking this report seriously — at all.

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Venezuela just ‘linked’ the newly created sovereign bolivar to its terrible cryptocurrency

sudshr47 August 21, 2018

You know you’re in trouble when your only hope for stability is something as notoriously unstable as cryptocurrency. And yes, Venezuela appears to be very much in trouble.

According to Bloomberg, Venezuelan President Nicolas Maduro announced on Friday that he intended to link a new national currency, the sovereign bolivar, to a cryptocurrency of his own government’s making — the Petro. This is the first case of a government tying its economic fortunes so closely to that of any digital currency, and suggests a possible exit path for a country ravaged by hyperinflation.

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How cryptocurrency brings oppression and hope to Venezuela

sudshr47 August 13, 2018

Daily life in Venezuela begins and ends with one question: What is my money worth today?
Venezuela has the world’s worst inflation rate at more than 40,000 percent annually and rising, according to John’s Hopkins University. The country’s almost wort…

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22-year-old man loses $24 million worth of bitcoins in apparent scam

sudshr47 August 13, 2018

Bitcoin is a risky investment, but for one young crypto millionaire, traditional forms of investing into assets such a casino and company stock turned out to be even riskier.
According to Bangkok Post, a 22-year-old Finnish man called Aarni Ota…

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You won’t be able to pay with bitcoin at Starbucks anytime soon

sudshr47 August 6, 2018

Recent news that Starbucks has partnered with Microsoft, the International Exchange, and a few other companies to launch a cryptocurrency venture called Bakkt has fueled reports that Starbucks is getting ready to start accepting Bitcoin in its stores.

Speaking to Motherboard, however, the company has stated that this is not true.

“Customers will not be able to pay for Frappuccinos with bitcoin,” a Starbucks spokesperson told the outlet, refuting a CNBC story published Friday.

Starbucks’ press release, dated Aug. 1, said Bakkt will be a “regulated, global ecosystem for digital assets” that will enable customers and institutions “to buy, sell, store, and spend digital assets on a seamless global network.” Read more…

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