bitcoin

Bitcoin, the first successful cryptocurrency, promised to disrupt the way we view and use money, and disrupt it did. And like almost all disruptions, it has left some scrambling to make sense of matters, confusing not just plain folk but even and especially governments and lawmakers. Such confusion often leads to regulation that becomes unfavorable to such new systems. Like, for example, China’s new ruling that makes it illegal to use initial coin offerings or ICOs in raising funds for a startup or product.

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Investigators are following the trail of the WannaCry attackers' Bitcoin ransom, with one digital currency asset change service confirming they were used to convert the nefarious funds. The notorious ransomeware took advantage of security loopholes in older versions of Windows to seize control of users' systems, locking up their files until they coughed up $300 or more. That cash, amounting to more than 50 BTC, had been sitting in digital wallets until earlier this week.

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Bitcoin wallets related to the WannaCry ransomware attacks and stuffed with more than $140,000 worth of the cryptocurrency have been emptied, experts say. The balance of the various accounts, which amounted to 52.2 BTC, was unexpectedly drained overnight. Funds began to mount in early May 2017, as victims of WannaCry coughed up the virtual cash needed to unlock their data.

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As of August 1, 2017, Bitcoin as we know it is no more. Not that we completely grokked it anyway. No, Bitcoin isn’t yet dead, fortunately or unfortunately. Instead, there are now two. Bitcoin has experienced what is called a “hard fork”, essentially a very big split. So now there are two: Bitcoin and something that is now known as Bitcoin Cash. And while both operate in exactly the same manner, the two are almost completely independent, which is going to make things a lot more confusing moving forward.

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This morning an incident occurred that sent an apparent $7.4-million USD worth of cryptocurrency Ethereum to a malicious entity. This was more than likely a hacker who laid dormant with backend control over the website from whens the coin was stolen - until this morning. As a rather sizeable ICO (Initial Coin Offering) opened its doors for investors, this hacker changed the website's target wallet. And boom! This secret wallet was full of $7.4-million USD worth of $ETH.

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Earlier this year Mark Cuban said that Bitcoin was a bubble - and the price of Bitcoin fell significantly immediately thereafter. The price of Bitcoin returned to basically the same price it'd been before Cuban spoke - then went higher. Since then, it seems, Cuban decided that cryptocurrency isn't as bad an idea as he recently thought - and is participating in his first ICO.

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It would appear that one of the biggest names in PC hardware has joined the Cryptocurrency universe with their own mining-friendly graphics cards. ASUS Mining RX 470 and Mining P106 both use NVIDIA GeForce GTX technology to run as efficiently as possible to mine the most cryptocoin for the smallest cost. These cards are "engineered especially for coin mining" and are made to roll with "maximum mega hash rates at minimum cost." UPDATE: A few Sapphire cards have appeared as well, each with AMD Radeon technology inside.

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The cryptocoin system known as Ethereum crashed in the middle of the day yesterday due to a single mega-massive trade. While the ticker showed a relatively significant drop in price throughout the day, it was at 12:30PM (on the 21st of June) that a single order kicked the entirety of the Ethereum universe in the pants. Not on all exchanges - not all at once - but the shockwaves were swift and merciless.

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Over the past 24 hours, the cryptocurrency known as PotCoin, or $POT, has risen over 81-percent. That's nuts - and it doesn't just happen because a lot of investors suddenly happened upon the little-known coin. The reason PotCoin is suddenly cashing in in a big way has very little to do with its first sponsorship of an American peace-brokering mission with a foreign entity. PotCoin just sent Dennis Rodman to North Korea.

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Investors in Ethereum have seen massive rises in price over the past month - but that's all going to end soon. I'm not certain, of course - nobody can know absolutely what's going to happen in any market, cryptocoin or otherwise. But what I'm seeing and what I'm hearing is that a coin that went from around $240 to nearly $400 in a month isn't going to stick there for long. Not because of investors getting jumpy, necessarily, but because of the reasons for the rise.

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This morning it became apparent that the cryptocoin called DigiByte ($DGB) was set to skyrocket in price. In the past 24 hours, the price of the coin went up a cool 43%, and beat its own previous top price (from May 21st) - once, and hasn't looked back since. But why - why has DigiByte suddenly turned into the third most traded coin on the market overnight? We've got a few answers.

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While Friday is generally a profit taking sort of day for stock markets around the world, Bitcoin seems to be moving in the opposite direction. This adds up, of course, since here in the warmer months of 2017, many traders in the cryptocurrency make use of Bitcoin as their trading currency, choosing to value their quick-trade coins in the slightly more reliable value of the most famous of them all. Bitcoin rose a wild 9.8% in early morning trading to around $2,550 a coin.

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