#NEWS
India’s Supreme Court Seeks Gov’t Report on Cryptocurrency in 2-Week Deadline
India’s Supreme Court, the country’s apex court, has directed the central government to present its official stance on cryptocurrency within two weeks.
In a telling move that seeks to end the ambiguity over the legality of cryptocurrencies like bitcoin in India, the government has been ordered to release its report on the cryptocurrency sector by the Supreme Court.
The Supreme Court has been inundated with multiple petitions filed by cryptocurrency exchanges and industry groups that have challenged a banking blockade enforced by the central bank in April, a crippling policy that has largely shuttered the domestic crypto sector.
While the Reserve Bank of India (RBI) has issued multiple cautions against the use of cryptocurrency over the years (from as early as 2013), they aren’t illegal in the country.
Full article:
https://www.ccn.com/indias-supreme-court-seeks-govt-report-on-cryptocurrency-in-2-week-deadline/
India’s Supreme Court Seeks Gov’t Report on Cryptocurrency in 2-Week Deadline
India’s Supreme Court, the country’s apex court, has directed the central government to present its official stance on cryptocurrency within two weeks.
In a telling move that seeks to end the ambiguity over the legality of cryptocurrencies like bitcoin in India, the government has been ordered to release its report on the cryptocurrency sector by the Supreme Court.
The Supreme Court has been inundated with multiple petitions filed by cryptocurrency exchanges and industry groups that have challenged a banking blockade enforced by the central bank in April, a crippling policy that has largely shuttered the domestic crypto sector.
While the Reserve Bank of India (RBI) has issued multiple cautions against the use of cryptocurrency over the years (from as early as 2013), they aren’t illegal in the country.
Full article:
https://www.ccn.com/indias-supreme-court-seeks-govt-report-on-cryptocurrency-in-2-week-deadline/
#NEWS
AMD: ‘Blockchain-Related GPU Sales in Third Quarter Were Negligible’
In its quarterly financial results report published Oct. 24, semiconductor manufacturer AMD reveals that “blockchain-related graphics processing unit (GPU) sales in the third quarter were negligible.”
American semiconductor company AMD stated in its third quarter 2018 financial report that revenue rose to $1.65 billion, up 4 percent year-over-year, although the figure is below estimates of $1.7 billion. The decrease is attributed to overall lower graphic revenue in the company’s Computing and Graphic business segment since last quarter.
Nevertheless, AMD’s Computing and Graphic segment revenue saw a 12 percent increase year-over-year up to $938 million primarily due to strong sales of Ryzen desktop and mobile products. Blockchain-related GPU sales were not significant in the third quarter. The average selling price of GPUs also decreased due to lower GPU channel sales.
Full article:
https://cointelegraph.com/news/amd-blockchain-related-gpu-sales-in-third-quarter-were-negligible
AMD: ‘Blockchain-Related GPU Sales in Third Quarter Were Negligible’
In its quarterly financial results report published Oct. 24, semiconductor manufacturer AMD reveals that “blockchain-related graphics processing unit (GPU) sales in the third quarter were negligible.”
American semiconductor company AMD stated in its third quarter 2018 financial report that revenue rose to $1.65 billion, up 4 percent year-over-year, although the figure is below estimates of $1.7 billion. The decrease is attributed to overall lower graphic revenue in the company’s Computing and Graphic business segment since last quarter.
Nevertheless, AMD’s Computing and Graphic segment revenue saw a 12 percent increase year-over-year up to $938 million primarily due to strong sales of Ryzen desktop and mobile products. Blockchain-related GPU sales were not significant in the third quarter. The average selling price of GPUs also decreased due to lower GPU channel sales.
Full article:
https://cointelegraph.com/news/amd-blockchain-related-gpu-sales-in-third-quarter-were-negligible
#NEWS
Is Bitcoin Primed to Initiate a Rally Above $7,000 After Weeks of Stability?
Throughout the past ten days, the Bitcoin price has remained in a tight range from $6,300 to $6,500, rarely initiating a noticeable movement.
The 1-day price chart of Bitcoin, as shown below, demonstrates nearly two weeks of stability in the lower price range of the dominant cryptocurrency, unable to engage in a short-term upside movement to confirm a breakout above a major resistance level.
Full article:
https://www.ccn.com/is-bitcoin-primed-to-initiate-a-rally-above-7000-after-weeks-of-stability/
Is Bitcoin Primed to Initiate a Rally Above $7,000 After Weeks of Stability?
Throughout the past ten days, the Bitcoin price has remained in a tight range from $6,300 to $6,500, rarely initiating a noticeable movement.
The 1-day price chart of Bitcoin, as shown below, demonstrates nearly two weeks of stability in the lower price range of the dominant cryptocurrency, unable to engage in a short-term upside movement to confirm a breakout above a major resistance level.
Full article:
https://www.ccn.com/is-bitcoin-primed-to-initiate-a-rally-above-7000-after-weeks-of-stability/
#NEWS
Blockchain, Ledger Release ‘First-of-Its-Kind’ Cryptocurrency Hardware Wallet
Cryptocurrency web wallet provider Blockchain has struck a deal with hardware wallet producer Ledger to manufacture a custom hardware device that will allow Blockchain users to seamlessly manage their online and offline funds through a single familiar interface.
Unveiled on Thursday, the Blockchain Lockbox, is, according to an announcement, a “first-of-its-kind hardware and software” solution. Leveraging the strengths of both companies, the Lockbox will provide Blockchain users with a way to move a portion of their funds offline, further securing them from hacks, while also having the option to leave funds in the firm’s non-custodial web wallet, which can be accessed apart from the hardware device.
“The Lockbox is a reflection of what our companies both do best. We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly,” said Peter Smith, CEO and co-founder of Blockchain.
Full article:
https://www.ccn.com/blockchain-ledger-release-first-of-its-kind-cryptocurrency-hardware-wallet/
Blockchain, Ledger Release ‘First-of-Its-Kind’ Cryptocurrency Hardware Wallet
Cryptocurrency web wallet provider Blockchain has struck a deal with hardware wallet producer Ledger to manufacture a custom hardware device that will allow Blockchain users to seamlessly manage their online and offline funds through a single familiar interface.
Unveiled on Thursday, the Blockchain Lockbox, is, according to an announcement, a “first-of-its-kind hardware and software” solution. Leveraging the strengths of both companies, the Lockbox will provide Blockchain users with a way to move a portion of their funds offline, further securing them from hacks, while also having the option to leave funds in the firm’s non-custodial web wallet, which can be accessed apart from the hardware device.
“The Lockbox is a reflection of what our companies both do best. We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly,” said Peter Smith, CEO and co-founder of Blockchain.
Full article:
https://www.ccn.com/blockchain-ledger-release-first-of-its-kind-cryptocurrency-hardware-wallet/
#NEWS
Bank of Canada Estimates 5% of Canadians Own Bitcoin
Data from the Bank of Canada and the Ontario Securities Commission has revealed that bitcoin adoption and general crypto awareness in Canada is growing steadily, with the percentage of Canadian poll respondents who own bitcoin rising from 2.9 percent in 2016 to 5 percent in 2017.
According to a recently released report by the Bank of Canada titled “Bitcoin Awareness and Usage inCanada: An Update,” Canadians between the ages of 45 and 54 were the group that reported the largest growth in bitcoin ownership over the period, multiplying nearly four times from 0.9 percent in 2016 to 3.5 percent in 2017. Similarly, an OSC report shows that about 1 in 10 Ontarians either currently hold or used to hold cryptoassets.
Full article:
https://www.ccn.com/bank-of-canada-estimates-5-of-canadians-own-bitcoin/
Bank of Canada Estimates 5% of Canadians Own Bitcoin
Data from the Bank of Canada and the Ontario Securities Commission has revealed that bitcoin adoption and general crypto awareness in Canada is growing steadily, with the percentage of Canadian poll respondents who own bitcoin rising from 2.9 percent in 2016 to 5 percent in 2017.
According to a recently released report by the Bank of Canada titled “Bitcoin Awareness and Usage inCanada: An Update,” Canadians between the ages of 45 and 54 were the group that reported the largest growth in bitcoin ownership over the period, multiplying nearly four times from 0.9 percent in 2016 to 3.5 percent in 2017. Similarly, an OSC report shows that about 1 in 10 Ontarians either currently hold or used to hold cryptoassets.
Full article:
https://www.ccn.com/bank-of-canada-estimates-5-of-canadians-own-bitcoin/
#NEWS
Newsflash: CNBC’s CryptoTrader Claims Coinbase is Preparing for an IPO
CNBC’s Ryan NeuNer, who hosts CryptoTrader, has promised to release details on the anticipated Coinbase Initial Public Offering.
CNBC previously reported that Coinbase was likely to take the “most obvious path” and become a public company.
According to screencaps published along with the tweet, Coinbase has approximately 25 million users, around 600,000 of whom trade monthly. Coinbase earned almost half a billion dollars last year, 80% of which was from consumers. The firm’s recent announcement that it had been approved as an independent custodian in New York will likely only improve its revenues.
The IPO prospects of Coinbase are interesting. It will be one of the first major stock symbols to be directly tied to the value and performance of crypto assets, in that the performance of the company very much relies on the health of the crypto economy. At the same time, it raises the question as to why investors wouldn’t simply invest in the currencies themselves as opposed to investing in one of a host of companies who facilitate acquisition, stewardship, and trading of such currencies.
Full article:
https://www.ccn.com/newsflash-cnbcs-cryptotrader-claims-coinbase-is-preparing-for-an-ipo/
Newsflash: CNBC’s CryptoTrader Claims Coinbase is Preparing for an IPO
CNBC’s Ryan NeuNer, who hosts CryptoTrader, has promised to release details on the anticipated Coinbase Initial Public Offering.
CNBC previously reported that Coinbase was likely to take the “most obvious path” and become a public company.
According to screencaps published along with the tweet, Coinbase has approximately 25 million users, around 600,000 of whom trade monthly. Coinbase earned almost half a billion dollars last year, 80% of which was from consumers. The firm’s recent announcement that it had been approved as an independent custodian in New York will likely only improve its revenues.
The IPO prospects of Coinbase are interesting. It will be one of the first major stock symbols to be directly tied to the value and performance of crypto assets, in that the performance of the company very much relies on the health of the crypto economy. At the same time, it raises the question as to why investors wouldn’t simply invest in the currencies themselves as opposed to investing in one of a host of companies who facilitate acquisition, stewardship, and trading of such currencies.
Full article:
https://www.ccn.com/newsflash-cnbcs-cryptotrader-claims-coinbase-is-preparing-for-an-ipo/
#NEWS
Canada’s Indigenous Tribes’ Organization Extorted for C$20,000 in Bitcoim
An organization representing indigenous tribes in Canada recently paid a ransom in bitcoin worth thousands of dollars in order to regain access to computer files that had been encrypted by a hacker.
According to the Canadian Broadcasting Corporation (CBC), over C$20,000 worth of bitcoin was paid out by the Federation of Sovereign Indigenous Nations (FSIN) to an anonymous hacker who had breached the organization’s computer systems. FSIN, which represents 74 First Nations in the Canadian province of Saskatchewan, was reportedly first contacted five months ago when the hacker emailed a staff member demanding to be paid bitcoin worth over C$100,000 in order to allow access to encrypted files.
Full article:
https://www.ccn.com/canadas-indigenous-tribes-organization-extorted-for-c20000-in-bitcoim/
Canada’s Indigenous Tribes’ Organization Extorted for C$20,000 in Bitcoim
An organization representing indigenous tribes in Canada recently paid a ransom in bitcoin worth thousands of dollars in order to regain access to computer files that had been encrypted by a hacker.
According to the Canadian Broadcasting Corporation (CBC), over C$20,000 worth of bitcoin was paid out by the Federation of Sovereign Indigenous Nations (FSIN) to an anonymous hacker who had breached the organization’s computer systems. FSIN, which represents 74 First Nations in the Canadian province of Saskatchewan, was reportedly first contacted five months ago when the hacker emailed a staff member demanding to be paid bitcoin worth over C$100,000 in order to allow access to encrypted files.
Full article:
https://www.ccn.com/canadas-indigenous-tribes-organization-extorted-for-c20000-in-bitcoim/
#NEWS
Stock Market Plunges But Has No Impact on Crypto: No Correlation?
This week, the US stock market deleted all of its gains made in 2018 amidst a major sell-off. The crash had no impact on the crypto market, showing no signs of inverse correlation.
Possibly affected by the trade war between China and the US along with the increase in Fed rates, the US stock market suffered one of its worst short-term crashes in recent history.
Analysts stated that Asia markets are more vulnerable than the US if the stock market crash of the US is to intensify, given the gradual decline in the growth rate of China’s economy.
“Then, there are worries about what’s happening abroad. China, the world’s second-biggest economy, is showing slower growth. Last week, it reported economic growth of 6.5 percent in the third quarter, falling short of expectations. And it has been drawn into a trade dispute with the U.S., with each side digging in on tariffs on billions of dollars of each other’s imports,” CNBC investing editor reported.
Full article:
https://www.ccn.com/stock-market-plunges-but-has-no-impact-on-crypto-no-correlation/
Stock Market Plunges But Has No Impact on Crypto: No Correlation?
This week, the US stock market deleted all of its gains made in 2018 amidst a major sell-off. The crash had no impact on the crypto market, showing no signs of inverse correlation.
Possibly affected by the trade war between China and the US along with the increase in Fed rates, the US stock market suffered one of its worst short-term crashes in recent history.
Analysts stated that Asia markets are more vulnerable than the US if the stock market crash of the US is to intensify, given the gradual decline in the growth rate of China’s economy.
“Then, there are worries about what’s happening abroad. China, the world’s second-biggest economy, is showing slower growth. Last week, it reported economic growth of 6.5 percent in the third quarter, falling short of expectations. And it has been drawn into a trade dispute with the U.S., with each side digging in on tariffs on billions of dollars of each other’s imports,” CNBC investing editor reported.
Full article:
https://www.ccn.com/stock-market-plunges-but-has-no-impact-on-crypto-no-correlation/
#NEWS
Ripple Cofounder Chris Larsen at Money2020 FinTech Conference: ‘Silicon Valley Has Missed the Boat’
Ripple co-founder Chris Larsen sat down for a discussion on the cryptocurrency space and creating an internet of value with Arjan Schütte, the Founder and Managing Partner of Core Innovation Capital, for the keynote of this year’s Money2020 FinTech conference. During the talk, Larsen shared his views on Silicon Valley, disruption in the financial technology space, and regulation.
Full article:
https://cryptoslate.com/ripple-cofounder-chris-larsen-at-money2020-fintech-conference-silicon-valley-has-missed-the-boat/
Ripple Cofounder Chris Larsen at Money2020 FinTech Conference: ‘Silicon Valley Has Missed the Boat’
Ripple co-founder Chris Larsen sat down for a discussion on the cryptocurrency space and creating an internet of value with Arjan Schütte, the Founder and Managing Partner of Core Innovation Capital, for the keynote of this year’s Money2020 FinTech conference. During the talk, Larsen shared his views on Silicon Valley, disruption in the financial technology space, and regulation.
Full article:
https://cryptoslate.com/ripple-cofounder-chris-larsen-at-money2020-fintech-conference-silicon-valley-has-missed-the-boat/
#NEWS
Zcoin Gives ASICs the Boot with Merkle Tree Proofs
In a direct challenge to the type of industrial-grade efforts that have transformed once-lone cryptocurrency miners into multi-billion-dollar oligarchies, Zcoin has held itself up as the first cryptocurrency to “democratize” mining using Merkle Tree Proofs, a PoW algorithm for ASIC-resistance.
According to the team behind the zero-knowledge proof privacy coin, Zcoin’s newfangled feature sticks it to centralized mining farms and purportedly “levels the playing field” for miners of their Zerocoin protocol-based cryptocurrency, a press release stated.
Full article:
https://cryptoslate.com/zcoin-gives-asics-the-boot-with-merkle-tree-proofs/
Zcoin Gives ASICs the Boot with Merkle Tree Proofs
In a direct challenge to the type of industrial-grade efforts that have transformed once-lone cryptocurrency miners into multi-billion-dollar oligarchies, Zcoin has held itself up as the first cryptocurrency to “democratize” mining using Merkle Tree Proofs, a PoW algorithm for ASIC-resistance.
According to the team behind the zero-knowledge proof privacy coin, Zcoin’s newfangled feature sticks it to centralized mining farms and purportedly “levels the playing field” for miners of their Zerocoin protocol-based cryptocurrency, a press release stated.
Full article:
https://cryptoslate.com/zcoin-gives-asics-the-boot-with-merkle-tree-proofs/