In 2019, the price of Bitcoin surged from $3,150 to $14,000 when the inflow of BTC into exchanges plunged, and it just happened again.
Several supercomputers in Europe have been hacked in the past few days. Attackers are thought to use these supercomputers for mining Monero (XMR).
A massive attack was carried out on some supercomputers based in Germany, the UK and Switzerland. These events first surfaced with the announcement of the University of Edinburgh on Monday. University of Edinburgh; He explained that the supercomputer known as ARCHER has detected a “vulnerability in the input nodes” and the system has been disabled. Authorities had to reset their SSH password to prevent the attack.
The attacks were not limited to this. An organization called bwHPC in Germany also made a statement on Monday, and five different supercomputers in Germany; It announced that it was closed due to “vulnerabilities” similar to those in the UK.
Bitcoin News.
Visa International has filed for a cryptocurrency system patent that is meant to replace physical currency. The system, which utilizes both central banks and commercial banks, leverages a private blockchain to improve the payment ecosystem.
The United States Patent and Trademark Office (USPTO) published on Thursday a patent application entitled “digital fiat currency,” filed by Visa International Service Association on Nov. 8, 2019.
Continue reading “Visa Files Patent for Cryptocurrency System to Replace Cash” »
Bitcoin and Ethereum futures contracts hit new records and most investors go ‘Longs’ on ETH.
La negociación de futuros de Bitcoin y Ethereum marcan nuevos récords.
A German neobank offers Bitcoin accounts with 4.3% interest.
El neobanco alemán Bitwala les ofrece a sus usuarios tasas de interés de hasta el 4.3% con su nuevo producto de cuenta de interés Bitcoin.
As Venezuela’s economy continues to endure hyperinflation, more businesses start accepting crypto.
Welcome to Shadow banning.
Have a look.
Reports come in that Google has just released a new core algorithm update and that Google is allegedly censoring bitcoin. This is an auspicious time for censorship.
Continue reading “Google Algorithm Update: Did Google Just Censor Bitcoin?” »
The choices we make today, and it’s consequences will shape up this decade. Can we break the current pattern, engage with this new financial system and adapt to new realities? #blockchain
As human beings, we are defined by patterns. Our collective pattern defines society. We are empowered with choices – furthering the patterns, or breaking them or creating new ones. In the physical world, these choices could be social, economic, technological, or ecological. Based on the choices we make – good, bad, or ugly, we enjoy or suffer consequences. COVID-19 escalated the macroeconomic situation leading to liquidity, demand, and supply shocks. Can we break the current pattern and embrace digitization, decentralization and sound money? In turn, making choices that will create affirmative consequences for humanity.
Patterns, Choices & Consequences
The largest oil field in the People’s Republic of China has been a target for individuals and organizations attempting to mine bitcoins with free electricity. After a bunch of mining farm operators allegedly got caught last summer, a dog kennel owner was recently busted for running cable lines in order to siphon free electricity from China’s Daqing Oil Field. The mining farm owner was arrested, as police found 54 ASIC miners stored in an underground bunker with dog kennels on top making it seem like a legitimate operation.
Electrical costs in China are cheaper than most places around the world, and that is why there is a high concentration of China-based bitcoin mining operations. To this day, it is estimated that more than 60% of today’s bitcoin miners operate in China. On April 26, the regional publication dbw.cn/heilongjiang published a report that explained a bitcoin miner was just arrested for allegedly stealing free electricity from the Daqing Oil Field. The report notes that the mining farm operator got away with the free electricity for months in order to power 54 mining rigs underground.
Further investigation shows that the mining farm owner also operated a K-9 kennel housed with dogs above the bunker. The cover made it seem like he was operating a legitimate business, while he had long cables running into China’s largest oil field. The oil field in Daqing is located between the Songhua river and Nen River. Estimates show that Daqing Oil Field has produced well over 10 billion barrels since the operation started. The man who was busted running cable lines into the oil field is not the only entrepreneur who has tried that specific method. Daqing Oil Field has been a target for many bitcoin mining operators who have attempted to run cables into the plant.
There is an interesting case of a blockchain engineer and a crime in the article.
A district court in China has reportedly ruled that Ethereum’s cryptocurrency is legal property with economic value. This ruling follows a couple of other verdicts on the legality of cryptocurrency, including bitcoin, by various Chinese courts. While cryptocurrency is not legal tender in China, people can hold and transfer them like property.
The Shenzhen Futian District People’s Court in Guangdong Province, China, has ruled that ether is legal property, protected by Chinese law, local media reported last week. This means that the Chinese are not barred from owning or transferring the cryptocurrency, local publication 8btc explained, adding that according to the court ruling:
Continue reading “Chinese Court Declares Ethereum Legal Property With Economic Value” »
