Dutch Bank Flustered Over the Amount of Electricity Bitcoin Consumes

Dutch bank ING is flustered over the fact bitcoin consumes so much energy. Recently, the bank released a report saying bitcoin transactions consume as much electricity as a house does in a month. They seem to believe this is problematic, since traditional electronic payment methods do not use near as much energy,...

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Stay Vigilant When Looking at ICOs

Recently, I was encouraged to write an article going over some of the ways to stay safe while buying, selling, and owning cryptocurrencies. This seems especially relevant in the current climate in which numerous ICOs are out there vying for new investor money. While we have written on topics like this before, it is...

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Former Bitmain Chip Designer Seeks to Revoke Mining Giant's Patent

Bitcoin's most controversial mining firm, Bitmain, is under threat of having a key chip patent revoked. Forcing a review of the patent is an ex-employee of the China-based mining giant: former director of design Yang Zuoxing, who has now founded a rival mining firm called Bitewei. According to documents reviewed...

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Bernanke at Ripple Event: Blockchain Has 'Obvious' Benefits in Payments

Former Federal Reserve chairman Ben Bernanke is bullish on blockchain. Speaking at Ripple's Swell conference in Toronto today, being held the same week and in the same city as Sibos, the annual gathering hosted by Ripple's rival Swift, Bernanke told a room of several hundred attendees that he believes payments...

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JPMorgan Launches Interbank Payments Platform on Quorum Blockchain

Wall Street banking giant JPMorgan Chase is launching a new interbank payments platform powered by blockchain, the firm announced today. With the participation of two other banks – Australia-based ANZ and the Royal Bank of Canada (Australia) – the Interbank Information Network (IIN) will be built on Quorum, the ethereum-based...

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Priced In? Ether Sees Cautious Boost as Blockchain Upgrade Underway

Ether prices rose to a six-week high of $350 today as ethereum, the second largest blockchain by total value, appears to have successfully executed a widely anticipated software upgrade. The first part of a larger technology update called "Metropolis," the "Byzantium" code was enacted this morning Eastern Standard...

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Bank of America Report: Bitcoin's True Value 'Impossible to Assess'

A potential move by global brokerages to offer products around cryptocurrencies could have a big impact on the wider market, analysts at Bank of America Merrill Lynch wrote. In an Oct. 16 research note entitled "Introducing cryptocurrencies – what are they good for?", the analysts tackle bitcoin as well as other...

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Crypto Mining Makes Millions for Gold Mining Maverick

Frank Giustra, a well regarded Canadian mining magnate who created one of the world’s most successful mining companies is now moving his operation digitally to mine Cryptocurrency. Giustra has backed a Blockchain technology company called Hive Blockchain Technologies, which is among the first publicly traded stocks...

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IBM Blockchain Payments To Use Stellar In Major Partnership Deal

IBM and payments network KlickEx have announced Stellar as the backbone of its new “cross-border payments solution.” In what it describes as the first use of public Blockchain technology “being used in production to facilitate cross-border payments in multiple integrated currency corridors,” IBM is already convening...

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Bitcoin SegWit2x Hard Fork Benefits Not Visible: Bruce Fenton

Bitcoin Foundation executive director Bruce Fenton has become the latest high-profile Bitcoin personality to criticize SegWit2x. In comments on Twitter Sunday, Fenton triggered responses from other well-known Bitcoin industry and community figures after he wrote that he “didn’t see the benefit” of the hard fork. “What's...

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