Gor Gevorkyan, a Los Angeles resident, has filed a lawsuit against Bitmain for allegedly mining cryptocurrency at his expense. The class action claims that bitcoin mining giant had redesigned its ASIC devices “to mine crypto currency for the benefit of itself rather than its customers who purchase the products”. Bitmain Allegedly Used Customers Resources to…
While China is known for its rather unfriendly stance toward cryptocurrencies, the situation is significantly better when it comes to blockchain technology. Numerous companies, influential individuals, and even the country itself recognize that this is the technology of the future. As such, they are very supportive of it and eager to expand it further and…
Declining volatility in crypto markets has allowed startups, investors, and industry leaders to slow down, and postulate about the future of this nascent industry, catalyzing a series of positive developments. For one, in the past week, certain crypto-centric entities were awarded wheelbarrows of regulatory traction, with leading governmental agencies from Japan and the U.S. expressing…
Chinese cryptocurrency mining giant, Bitmain, has officially released a firmware update that allows Bitcoin miners to activate the Overt AsicBoost upgrade that significantly increases their operational efficiency and decreases their cost-basis. The upgrade comes after the development group behind Slush Pool verified that Bitmain’s popular Antminer S9 hardware is capable of supporting the upgrade, even…
Despite China’s crypto crackdown, a Chinese cryptocurrency enthusiast recently embarked on a twenty-one-day journey to survive solely on a small stash of Bitcoin, no more, no less. 21 Days, 0.21 Bitcoin When it comes to cryptocurrency diehards, there isn’t anyone as committed as China-based crypto proponent He You Bing, who recently took to China’s streets to…
Gold is often touted by many as the planet’s best store of value. Those who believe this will often offer the explanation that it it is both finite and has a legitimate use case in the manufacturing of electronic products. Since humanity’s appetite for the latest electronic gizmos seems is ever increasing, demand for the…
Very few positive stories come out of China with cryptocurrency in the headlines. This one is no different as the central bank has continued with its rhetoric over the risks of dealing with digital currencies. Same Old Story; Crypto Bad, Blockchain Good The People’s Bank of China has issued another warning over its perceived bubble…
The US stocks opened Wednesday on a higher note as President Donald Trump signaled positive outcomes of their trade talks with China. The Dow Jones Industrial Average jumped 0.5 percent to 23902 points after adding 115 points while the S&P 500 gained 0.3 percent. The Nasdaq Composite Index surged by 43.2 – or 0.6 percent…
The European Central Bank (ECB) is not issuing a digital currency any time soon, according to President Mario Draghi. He’s argued that the blockchain technology is not mature enough for such a level of responsibility and physical cash remains widely used within the monetary union. ECB Studies Potential Issuance of Central Bank Digital Currency In…
New reports from China indicate that the country’s first cryptocurrency exchange, previously known as BTC China, plans to expand their services to Korea. The reports claim that the move is scheduled for October 31, 2018. BTCC is an old crypto exchange, which was launched as far back as in 2011. Since then, it grew to…