Former GAW Miners creator Josh Garza faces a $12 mln fine for running what lawmakers have certified was a “Ponzi scheme.” Garza, who was charged with securities fraud in 2015 and is also facing separate criminal proceedings for running the fraudulent mining operation, received a final judgment from the...
The ICO, as an alternative form of crowdfunding, emerged outside of the traditional financial system. The model has already established itself as one of the easiest and most efficient methods for startups to fund their projects while opening up the possibility for users to invest in projects they...
A resurgence in cryptocurrency mining is causing a shortage of graphics cards, several US distributors report. AMD, which manufactures cards traditionally used throughout consumer computing and beyond, is seeing what it calls “solid demand” for both its new and older products. "The gaming market remains our priority. We are seeing...
Bitcoin price demonstrated resilience to economic uncertainty over the past week, while markets in the US plunged and struggled to recover. In May, various sources revealed that the US only added 138,000 jobs, dipping significantly lower than the expected number. On average, the unemployment rate fell to 4.3 percent,...
Earlier this week, China’s largest mainstream media company People’s Daily defined Bitcoin as digital gold, further validating its legitimacy. Suddenly, investors and mainstream media outlets across the world have started to endorse and adopt Bitcoin. Bitcoin to replace reserve currencies In the past month, Bitcoin has received more extensive mainstream...
The skyrocketing values of cryptocurrencies have led to an unusual number of people beginning to familiarize themselves with the Blockchain. The security, anonymity and enormity of the Blockchain model is catching the eye of other industries as well, including health care, energy, tourism and food. In fact, the most...
Japanese technology giant Fujitsu has announced it is developing Blockchain software for data handling, access and distribution. The as-yet unnamed product, which the company hopes to commercialize later this year, will offer three core features putting data handling on the Blockchain for business. Registering data information based on the storage...
Blockchain platform BTL Group has announced it is to pursue the development of its Interbit trading solution after a successful oil market pilot. Interbit, which has been used by BP and Eni in conjunction with Wien Energie to handle oil trades, will now work towards a “go-to production phase,”...
Newegg’s Canada arm appears to have dropped Bitcoin payments after BitPay’s halting of settlements in Canadian dollars (CAD) last week. Citing information from a company representative, a Reddit user claimed Newegg, which was one of the first major retailers to begin accepting Bitcoin, will no longer offer the option...
As the Bitcoin block size debate rages, unconfirmed transactions pile up and the minimum transaction fee recommended while sending Bitcoins continues to increase, we take a look at three things taken for granted a year back, but which have been made impossible due to high transaction fees. Redeeming physical...