Bitcoin

Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It was designed to work as a decentralized digital currency without a central bank or single administrator, though in practice many aspects of it use are centralized. Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, and thefts from exchanges.
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  • Cryptocurrency Bear Market Waning, Going Through Accumulation Phase, Says Report
    Cointelegraph

    Cryptocurrency Bear Market Waning, Going Through Accumulation Phase, Says Report

    The cryptocurrency bear market is winding down and is in its final stage, the accumulation phase, according to a report from digital assets fund Adamant Capital published on April 18. Per the report, the accumulation phase is expected to bring bitcoin (BTC) to trade in the corridor between $3,000 and $6,500 until the new bull market gains ground. The researchers suggest that bitcoin whales are currently accumulating the leading cryptocurrency which echoes the bear market from 2014 to 2015.

  • FinCEN Issues First-Ever Civil Penalty Against Bitcoin Exchange
    Bitcoin Magazine

    FinCEN Issues First-Ever Civil Penalty Against Bitcoin Exchange

    The Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of the Treasury, has imposed its first-ever penalty on a peer-to-peer crypto exchange for violating AML regulations, among other violations.FinCEN announced the penalty on its website on April 18, 2019, declaring that it had levied a civil money penalty against bitcoin trader Eric Powers for “[failing] to register as a money services business (MSB), [having] no written policies or procedures for ensuring compliance with the BSA [Bank Secrecy Act], and [failing] to report suspicious transactions and currency transactions.”In other words, Powers was acting as an unregistered exchange by carrying out a number of peer-to-peer transactions in crypto assets. In the course of his various peer-to-peer transactions, FinCEN claimed that Powers exchanged a total sum of BTC worth approximately $5 million, carrying out individual transactions worth more than $10,000 over 200 times.Though FinCEN noted that this is its first enforcement action against a peer-to-peer cryptocurrency exchange, this is not the first prosecution of this sort lately. Earlier this month, Jacob Burrell Campos was charged by the U.S. Department of Justice for similar crimes, acting as an unregistered exchange. A key difference between the two cases, however, is that FinCEN quoted a civil penalty of $35,350 dollars for Powers while Campos was sentenced to two years’ imprisonment. Both men were required to forfeit $100,000 and $800,000 in crypto assets.The initial sentencing of Campos came with commentary from regulatory officials such as David Shaw, a special agent for Homeland Security investigations in San Diego, who called the trial “a reminder to those illegal and unlicensed money transmitters that the laws and rules apply to crypto currency dealings just as they do to other types of financial transactions,” signaling that the U.S. government would begin prosecuting these financial crimes more harshly.The FinCEN announcement noted that Powers’s sentence was loosened due to his cooperation with law enforcement, including an agreement “to an industry bar that would prohibit him from providing money transmission services or engaging in any other activity that would make him a ‘money services business’ for purposes of FinCEN regulations.”This article originally appeared on Bitcoin Magazine.

  • Bitcoin Bear Market Forces Korea’s Fifth-Largest Crypto Exchange to Close
    CCN

    Bitcoin Bear Market Forces Korea’s Fifth-Largest Crypto Exchange to Close

    By CCN: The bitcoin bear market might be over, but it hasn’t finished claiming victims. Coinnest — South Korea’s fifth-largest crypto exchange — shut down this week. Users have until April 30 to withdraw any remaining funds. The closure comes months after a series of scandals roiled the crypto platform. In a notice to users on its website, Coinnest did not explain why it was shuttering, but thanked customers for their encouragement and patronage. Bribery and $5 Million Accidental Bitcoin Airdrop As CCN reported, Coinnest has suffered a series of embarrassing, self-destructive scandals over the past year. In April 2018,

  • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 19
    Cointelegraph

    Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 19

    The recovery in crypto prices has led to an increase in over-the-counter (OTC) demand for Bitcoin and altcoins. Anonymous sources told Bloomberg that the United States Commodity Futures Trading Commission (CFTC) is reluctant to approve the Bitcoin futures because Bakkt intends to hold user assets. This is likely to increase the possibility of a green signal by the CFTC for the project.

  • Sexy Stablecoins Are the ‘Bridge’ to Mainstream Crypto Adoption
    CCN

    Sexy Stablecoins Are the ‘Bridge’ to Mainstream Crypto Adoption

    By CCN: Stablecoins on the surface might seem boring. After all, most don’t come with the volatility that’s inherent with most cryptocurrencies, especially bitcoin, and therefore have an entirely different risk/return profile. Stablecoin Tether (USDT) has been an exception to this rule after it lost parity with the U.S. dollar last year amid questions about its reserves. Make no mistake, however, stablecoins, most of which are pegged 1:1 to fiat currencies such as the U.S. dollar, are a vital part of the crypto ecosystem, one that will help to unlock the institutional capital that has been trapped on the sidelines

  • Facebook: ‘Biggest on-Ramp Ever’ for Bitcoin Adoption?
    CCN

    Facebook: ‘Biggest on-Ramp Ever’ for Bitcoin Adoption?

    By CCN: Spencer Bogart, a partner at crypto investment firm Blockchain Capital, argued in a new blog post that over the next two years Facebook, Telegram, and stablecoins will create the largest on-ramps to crypto that the Bitcoin industry has ever seen. Facebook & Telegram Could Fuel Rabid Crypto Expansion With the on-boarding of two of the largest networks in the world – Facebook and Telegram – the crypto economy is likely to grow a great deal in the coming few years. Regardless of whether these platforms are integrating Bitcoin directly, all cryptos will be in higher demand as a

  • 3% of American Retirees Own Some Bitcoin, While 33% Have No Idea What Bitcoin Is: Survey
    Cointelegraph

    3% of American Retirees Own Some Bitcoin, While 33% Have No Idea What Bitcoin Is: Survey

    About 3% of American retirees claimed to own some bitcoin (BTC) in a new survey released by precious metals-focused magazine Gold IRA Guide on April 17. In April, Gold IRA Guide conducted a survey asking 1,000 American retirees over 50 years old about their thoughts on investing in major cryptocurrency bitcoin. Around 3.5 percent said that they would like to invest in bitcoin, but did not know how to start, while 4.5 of retirees expressed interest in investing in bitcoin, but decided to keep an eye on it instead of going forward on the matter.

  • Bitcoin Accounts for 98% of Crypto-Denominated Ransomware Payments, Study
    Cointelegraph

    Bitcoin Accounts for 98% of Crypto-Denominated Ransomware Payments, Study

    Bitcoin (BTC) continues to account for the lion’s share of crypto-denominated ransomware payments, according to Coveware’s Q1 2019 Global Ransomware Marketplace report, published on April 15. The report — reportedly based upon aggregated ransomware data from cases tackled by Coveware’s Incident Response Team — indicates that in Q1 2019 the ransomware landscape saw a sharp increase in the average ransom demanded by threat actors. The average sum — demanded in exchange for the ostensible delivery of a decryptor tool that can help victims recover data after a ransomware attack — rose 89% from a median $6,733 in Q4 2018 to $12,762 in Q1 2019, the report states.

  • Privacy Crypto Monero Celebrates Its 5th Birthday
    Coindesk

    Privacy Crypto Monero Celebrates Its 5th Birthday

    The privacy coin Monero celebrated yesterday five years of existence.

  • Local Media: Afghanistani, Tunisian Central Banks Consider Issuing Bitcoin Bonds
    Cointelegraph

    Local Media: Afghanistani, Tunisian Central Banks Consider Issuing Bitcoin Bonds

    Afghanistan and Tunisia’s central banks are looking to issue a bitcoin (BTC) bond, Hong Kong-based news outlet Asia Times reports on April 17. Per the report, the governors of the two country’s central banks spoke at the annual Spring Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund in Washington between April 8 and 14. Afghanistan’s central bank governor Khalil Sediq allegedly told Asia Times that the institution is considering issuing a sovereign crypto bond to raise $5.8 billion.

  • We talked to the co-creator of Satoshi’s Treasure, the million-dollar global bitcoin scavenger hunt
    The Block

    We talked to the co-creator of Satoshi’s Treasure, the million-dollar global bitcoin scavenger hunt

    In the latest weird-but-wonderful trend taking over the crypto community, Satoshi's Treasure kicked off this week. The global hunt for $1 million in BTC requires players to find private key fragments spread across the physical world and the internet by breaking encryptions.The post We talked to the co-creator of Satoshi's Treasure, the million-dollar global bitcoin scavenger hunt appeared first on The Block.

  • Trump’s FinCEN Pirates Extort $35,000 from Old-Fashioned Bitcoin Trader
    CCN

    Trump’s FinCEN Pirates Extort $35,000 from Old-Fashioned Bitcoin Trader

    By CCN: For the first time, FinCEN – the Financial Crimes Enforcement Network – has fined a peer-to-peer Bitcoin trader for failure to register as a money services business. MSBs fall under FinCEN’s regulation, and according to FinCEN, Eric Powers, reportedly a resident of California, willfully violated registration requirements. He’s also accused of looking the other way when knowingly doing business with Silk Road vendors. $5 Million in Crypto Trades Net Bitcoin Trader a $35,000 Fine FinCEN says that Powers admitted to buying over $5 million in cryptocurrencies throughout 160 transactions, doing many of the trades in public places. It

  • Central Bank of China will turn renminbi into a cryptocurrency, Donald Tapscott claims
    The Block

    Central Bank of China will turn renminbi into a cryptocurrency, Donald Tapscott claims

    Executive chairman of the Blockchain Research Institute Donald Tapscott said in an interview with Bloomberg that he believes renminbi, the official Chinese currency, will become a cryptocurrency in the future.The post Central Bank of China will turn renminbi into a cryptocurrency, Donald Tapscott claims appeared first on The Block.

  • Looking to convert Bitcoin to euro? Follow these tips
    Coin Rivet

    Looking to convert Bitcoin to euro? Follow these tips

    If you’re looking to convert Bitcoin to euro, it isn’t quite as straightforward as popping along to your local bureau de change. There are a few different ways to cash in your Bitcoin, and they each have their advantages and disadvantages. The most popular method is to use a centralised exchange like Coinbase or Gemini, but you could also trade your Bitcoin through a peer-to-peer platform or use a Bitcoin prepaid card. Whichever method you use, you need to make sure it is safe and secure. Start by exploring the reputable exchanges Exchanges like Coinbase and Gemini not only let you buy Bitcoin – they also enable you to sell your Bitcoin and other cryptocurrencies for fiat. The exchanges connect The post Looking to convert Bitcoin to euro? Follow these tips appeared first on Coin Rivet.

  • Self-Appointed Bitcoin ‘Creator’ Sues Podcaster $140,000 for Satoshi Libel; Who’s Next?
    CCN

    Self-Appointed Bitcoin ‘Creator’ Sues Podcaster $140,000 for Satoshi Libel; Who’s Next?

    By CCN.com: Self-proclaimed Bitcoin inventor Craig Wright has finally filed a lawsuit against the What Bitcoin Did podcaster Peter McCormack. The podcaster simply tweeted ‘Served!’ alongside an image of the suit papers. Served! pic.twitter.com/wr4uiOtQCj — Dr. Peter McCormack (@PeterMcCormack) April 18, 2019