Bitcoin Erases February’s Gains, BTC Price Sinks Below $8,700

Coronavirus continues to spread panic throughout traditional markets and Bitcoin price is down 10% since the start of the week. The sharp correction that has rocked the crypto market since Feb. 23 continued through Feb. 27 as Bitcoin (BTC) price dropped nearly 8% to a daily low at $8,531. Markets pricing in Coronavirus impact At the opening bell, equities markets recovered some of the losses of the previous two days but at the time of writing Dow Jones futures, S&P 500 futures and Nasdaq futures all dropped 1.32%, 1.33% and…

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Ethereum Community Comes out Against Controversial ProgPoW

Opposition continues to grow against implementation of the controversial Programmatic Proof-of-Work (ProgPoW) proposal in the Ethereum community. Opposition continues to grow against implementation of the controversial Programmatic Proof-of-Work (ProgPoW) proposal in the Ethereum community. ProgPoW is an ASIC-resistant PoW algorithm meant to replace ETHhash, the current hashing algorithm for the platform. First mooted two years ago, it suddenly reemerged as a concrete plan set for the middle of this year following a call of core developers on February 21. Leading stakeholders filed a petition on Github on Feb. 26 to…

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Half of Cash App’s Revenue Now Comes From Bitcoin

Square’s Cash App derived half of its fourth-quarter 2019 revenue from Bitcoin (BTC) services. Square’s Cash App derived half of its fourth-quarter revenue from Bitcoin (BTC) services. According to a shareholder letter published on Feb. 28, Bitcoin revenue amounted to $178 million during the fourth quarter of 2019, while combined non-Bitcoin revenue totaled $183 million. In total Bitcoin accounted for more than half a billion dollars of revenue across 2019, equating to around $8 million in profits. That’s up from $1.7 million the previous year. The figures show that Bitcoin…

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The Bull and Bear Case for Investing in the Top 20 Cryptocurrencies

Should you buy bitcoin or bitcoin cash? Does tezos have further room to grow? Is monero a long-term hold? There are no absolute answers to these questions and no crystal ball to determine which crypto will pull a 5x before the year’s out. Based on fundamentals alone, however, here are some reasons why you might wish to buy or sell the top 20 cryptos by market cap. Also read: Bitcoin Rich: 6 Crypto Entrepreneurs Make the 2020 Hurun Billionaire List Bitcoin Bull: The bull case for investing in bitcoin core…

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‘Crypto Mom’ Accuses SEC of ‘Shifting Standards’ Following Bitcoin ETF Rejection

Wilshire Phoenix’s Bitcoin ETF has been officially rejected by the SEC because the Bitcoin market is still too heavily manipulated. The US Securities and Exchange Commision has rejected New York based firm Wilshire Phoenix’s Bitcoin Exchange Traded Fund (ETF) application, citing ongoing concerns over market manipulation and a lack of surveillance-sharing agreements. Commissioner Hester ‘Crypto Mom’ Peirce has publicly disagreed with the rejection. NYSE Arca had submitted a proposed rule change to allow the listing and trade of Wilshire Phoenix’s United States Bitcoin and Treasury Investment Trust. The proposal included…

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Presumed Guilty: Financial Watchdogs See Crypto as Illicit by Default

In implementing new Anti-Money Laundering policies, many countries automatically treat crypto transactions as high-risk. Recently, financial regulators around the world have been growing concerned about the role of cryptocurrency in money laundering and financing of various illicit activities. The first two months of 2020 saw many governments acting on these concerns and introducing a variety of legal measures designed to bolster their defenses against financial cybercrime allegedly facilitated by the use of digital money. Russia has become the latest of the major jurisdictions to make a move in this direction,…

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Privacy Study: Brave Browser Smacks Down Chrome, Firefox & Safari

A study conducted by a privacy expert concluded that Brave browser does a much better job of protecting user privacy than Chrome, Firefox or Safari. A privacy expert who compared some of the most popular browsers on the market reached an unambiguous conclusion: Brave trumps competition. Trinity College Dublin’s chair of computer systems, Dr. Douglas Leigth, authored a study comparing Chrome, Firefox, Safari, Microsoft Edge and Yandex in terms of how much personal data they share with backend servers. Brave’s default configuration was by far the best of the bunch.…

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Ransomware Hacks Cost Victims $144M in BTC Over Last 6 Years, FBI Says

Ransomware has captured roughly $144 million in Bitcoin over the last six years, according to an FBI conference presentation. A recent presentation from the U.S. Federal Bureau of Investigation, or FBI, shows ransomware hackers have pilfered massive amounts of Bitcoin (BTC) since 2013. Between October 2013 and November 2019, victims paid roughly $144 million in BTC to ransomware hackers, FBI supervisor Joel DeCapua indicated at a Feb. 24 RSA conference. Ransomware takes control During a ransomware breach, nefarious parties take control of a person or entity’s computer systems, demanding payment,…

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DeFi Can Now Choose to Run Trustless Zero-Knowledge Proofs

Supersonic is a trustless zero-knowledge proof system that could help DeFi platforms, as third-party trust isn’t required to ensure privacy. In an interview with Cointelegraph at the Stanford Blockchain Conference on Feb. 19, Stanford University cryptography Ph.D. student Ben Fisch described Supersonic as a trustless zero-knowledge proof system, also referred to as a zk-SNARK.  Fisch helped create a trustless zero-knowledge proof system designed specifically for decentralized finance.  Trustless versus trusted zk-SNARKs While zero-knowledge proof systems are needed for preserving privacy across blockchain networks, almost all require trusted-setups. Fisch said, “This…

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Bitcoin Rich: 6 Crypto Entrepreneurs Make the 2020 Hurun Billionaire List

On Wednesday, the “Hurun Global Rich List,” a ranking of the wealthiest individuals, published its 2020 report that notes the world saw 346 new billionaires last year. This year’s list also includes six blockchain entrepreneurs who made the Hurun Global Rich List through cryptocurrency investments. Also read: Warren Buffett Slates Bitcoin, Denies Owning Crypto Gifted by Justin Sun Cryptos Billionaire Club The Hurun Global Rich List is well known for documenting the wealthiest individuals on the planet and in 2020 there is a record number of billionaires worldwide. An estimate…

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