Category Archives: Blockchain

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Bitcoin conference stops accepting bitcoin for tickets, oh the irony

The irony of a conference dedicated to all things cryptocurrency that’s unable to accept bitcoin payments for conference tickets is glaring.

On the North American Bitcoin Conference ticketing page — where last minute tickets are $1,000 USD for the Jan. 18-19 event in Miami — an explanation for the “no cryptocurrency” policy cites “network congestion and manual processing.”

SEE ALSO: Here’s what you need to know before you buy bitcoin

To be fair, processing fees are high for bitcoin. The price fluctuates, but it’s gone up in recent months, reaching an average as high as $55.  This week it’s closer to $30. As Bitcoin.com reported, a growing list of merchants is pulling back from bitcoin payments. It’s not a quick and easy transaction system. Read more…

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Telegram to raise a total of $1.2 billion in a monster ICO, report claims

Messaging app Telegram is joining the cryptocurrency craze in a big way. 

Although nothing has been officially announced, a 23-page document obtained by Mashable claims that Telegram is preparing to launch an initial coin offering (ICO). 

Although the document outlines a dynamic token crowdsale in which the token price would be adjusted according to interest, CoinDesk’s sources claim Telegram plans to raise $600 million to $700 million. Since the same sources claim the company is also looking to collect $500 million to $600 million in a presale (a private sale of digital tokens, typically to larger investors), that puts the total raised at about $1.2 billion.  Read more…

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Kodak announces its own cryptocurrency and sees shares rocket

Kodak just became the latest company to jump on the cryptocurrency bandwagon. Like recent random businesses that have embraced blockchain technology, such as Rich Cigars and Long Island Iced Tea, it’s seen its stock rocket.

The photography company, which went bankrupt a few years back after dragging its heels amid the digital revolution, announced KODAKCoin and an accompanying KODAKOne platform Tuesday: a “photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”

SEE ALSO: Tobacco company makes a hard pivot to cryptocurrency mining Read more…

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Even Coinbase thinks you should maybe chill for a goddamn minute on Bitcoin

Bitcoin. It’s pretty great, amirite? But, ya know, could you maybe just chill the fuck out on it for a single goddamn second?

I mean, jeez, this rocket ship is on a one-way trip to the cryptocurrency moon — that much we know for sure — but, what if, and just bear with me here for a second ’cause this is gonna sound crazy, what if it’s not?

SEE ALSO: Bitcoin is a victim of its own success

Sure, Bitcoin is hitting record highs seemingly every day now, and if there’s one thing spending BTC at dark-web marketplaces has taught me it’s that monumental highs feel like they’ll last forever. But perhaps it’s time to cut our unbridled exuberance with some downers.  Read more…

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Wallet bug freezes more than $150 million worth of Ethereum

A bug in Parity, a popular wallet for the cryptocurrency and decentralized application platform Ethereum, may have resulted in more than $150 million worth of ether being permanently frozen. 

The bug affects Parity multi-sig (multi signature) wallets, which require more than one owner to “sign” a transaction before it can go through. An unknown attacker (or a careless developer) has exploited it to effectively destroy a piece of Parity’s code, effectively rendering all multi-sig wallets that were created after July 20 completely unusable. 

SEE ALSO: Move over, Bitcoin: Ethereum is the next big thing in cryptocurrency Read more…

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These hackers stole $85 million in Ether to save it from *the real crooks* (or so they say)

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The clock was tickingThieves stole $32 million worth of Ether out of a popular Ethereum wallet, and with every passing minute the potential for additional losses grew. 

And so the White Hat Group stepped in. 

SEE ALSO: It only took hackers 3 minutes to steal $7 million worth of Ether

Like something out of a weird cryptocurrency reboot of National Treasure, the unidentified WHG hackers decided to steal the remaining Ether before the crooks could. All $85 million of it. 

Or so they say. 

The claim was posted to Reddit on July 19, and details a plan to return the funds to their rightful owners. Here’s how the poster, jbaylina, says it went down: Read more…

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What you don’t know about Bitcoin can hurt you

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Money is pretty simple nowadays: A piece of paper or a digital asset that you can exchange for goods and services. Someone else takes care of all the fine print. Some kind of central authority issues the money, calculates its value, and makes sure that that wire transaction you’ve sent goes to the right recipient. 

But money is changing. First there was Bitcoin, a digital currency that takes care of the issuance and payments parts all by itself — by means of technology instead of authority. And then there was Ethereum, which adds another layer over Bitcoin’s underlying technology, the blockchain, by letting anyone run complex commands from within the digital coins themselves.  Read more…

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At $200 million, Tezos ICO is already the biggest ever, and it’s still going strong

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Right now, Tezos — a blockchain startup you’ve probably never heard of — is raising money through an initial coin offering, or ICO. Tezos has raised $206 million in about four days, and the sale is scheduled to continue for eight and a half more days.

At this rate, raising half a billion dollars is not unimaginable. 

SEE ALSO: The ICO is a revolutionary new way to get funded, and everyone wants in

Unlike many other recent ICOs, Tezos is not based on Ethereum. Instead, it operates on an entirely new blockchain, a “self-amending cryptoledger” that rewards developers who upgrade the network’s protocols and allows for “seamless,” consensual upgrades of those protocols (read the white paper here for a lot more detail). This makes it a competitor to Ethereum.  Read more…

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