Items tagged with bitcoin

Bitcoin is on the upward swing of its current rollercoaster ride, rebounding above $11,000 -- a price that it hasn't seen since January. After soaring to nearly $20,000 in December, the cryptocurrency has crashed hard in the past two months. At one point earlier this month, Bitcoin was trading below $7,000. However, it has since made a rally to its current valuation of around $11,200 according to CoinDesk. It appears that fears of stiffer regulations and an overinflated valuation are starting to subside, which is breathing some new life into Bitcoin. However, Vitalik Buterin, the mastermind behind Ethereum, warns that investors could still stand to lose bigtime with cryptocurrencies. "Cryptocurrencies... Read more...
Atari has just announced something that will surprise all the gamers out there who grew up on its consoles and games. The company made a big unveil today and while it's not a new console or game, Atari will actually be minting its own new type of cryptocurrency. The new altcoin type will be called "Atari Token" and no, it isn’t trying to take on Bitcoin. Atari Token won't be worth real money apparently, however, it will be used on a new digital entertainment platform to buy content like video games, music, and movies. The deal was inked by Atari SA, the French firm now holding all Atari properties and Infinity Networks. Technically Atari isn’t implementing the new cryptocurrency,... Read more...
The effect that cryptocurrency mining has had on the graphics card market has been so extreme, very few people could have predicted it. GPUs that were as easy to purchase as a gallon of milk became as hard to find as the hottest deal at Best Buy on Black Friday. In addition to the rarity, inflated pricing has been a real issue as well, with many GPUs costing twice as much (or more) than their intended MSRP. A $649 GeForce GTX 1080 Ti, for example, can currently be had as "cheap" as $900, and that's a relative bargain compared to some of the other pricing we've seen. It's not hard to find the same GPU going for $1,300+ at virtually any e-tailer. One of the saving graces for gamers has been companies... Read more...
The Federal Communications Commission (FCC) has ordered a resident in Brooklyn, New York to cease his Bitcoin mining operation after it was discovered that the hardware he was using to mine Bitcoin was causing interference with 4G LTE signals on T-Mobile's wireless network. If that is truly the case, this incident adds a new wrinkle to the already controversial world of cryptocurrency. In a letter to the person responsible, the FCC said it used "direction finding techniques" to locate the source of the offending hardware, in this case an Antminer s5 Bitcoin miner, a popular mining ASIC that is purpose built for Bitcoin mining. These units sell for several hundred dollars and are capable of mining... Read more...
In the span of a few short years, cryptocurrency mining went from being virtually unknown to making making waves in the tech community. While mining may not have caught on with mainstream audiences yet, the entire market has been affected by the new-age gold digging. GPU prices are particularly affected, with many models costing twice as much on the market as their SRPs would suggest. Fortunately, the same price hikes have avoided CPUs, even though they can prove pretty potent in mining. Clearly, many people want a piece of mining, including those who are in a position to take advantage of a really sweet computer -- or many computers. We're not talking malware-infected miners here, but actually... Read more...
If you're well-seasoned internet user, surely you have seen scams over the years that revolved around a Nigerian prince who needs your help to move money out of the country. We all know that it is a scam, yet for a long time, people have fallen for it. That Nigerian Prince scam is now back and has a new twist while spreading via Twitter. The scam sees nefarious users making Twitter handles that are very close to legitimate and well-known Twitter users. The scammer then responds to one of the real poster's tweets to give the appearance that they started the thread. The scammer then puts up a tweet offering to provide a Bitcoin "reward" to anyone who sends a smaller amount of cryptocurrency... Read more...
When AMD announced its earnings last week, the company made it a point to indicate that it would boost capacity in order to address the GPU supply strain caused by booming cryptocurrency mining demand. Yesterday, it was NVIDIA's turn to release earnings -- which it knocked out of the park, by the way -- and it too is looking to address GPU supply problems. NVIDIA CEO and founder Jen-Hsun Huang during his company's earnings call brought attention to the woes gamers (and cryptocurrency miners) are facing when attempting to purchase a Pascal-based graphics cards these days. "We're working really hard to get GPU down to the marketplace for the gamers and we’re doing everything to advise retailers... Read more...
It looks as though it isn't just the Dow Jones that is having a crappy day in the financial world. Bitcoin, which was trading at close to $20,000 in late 2017, has come crashing down to earth in the past few weeks. Just last week, there panic coursed through the market which caused the cryptocurrency to drop below $10,000. Today, Bitcoin dropped under $7,000. According to Coindesk, Bitcoin is currently at $6,784, which represents a 17 percent drop for the day. Bitcoin hasn't seen these lows since it began a meteoric rise back in mid-November 2017. For those keeping score, Bitcoin has lost roughly half of its value since the start of 2018... ouch. When the new year started, Bitcoin had a market... Read more...
Back in mid-December, Bitcoin peaked with a value of over $19,000 per coin. Then just a few days later, it dropped to below $14,000. After that it went back up a little bit, then fell to below $13,000 by the end of the month. In the first week of January, Bitcoin's value was back up to over $17,000. It has been steadily declining ever since, and now less a month later, Bitcoin is trading for around $9,300. If you are new to cryptocurrency investing, you might be wondering what the flip is going on. Welcome to a volatile market. That's the short explanation, anyway. Investing in cryptocurrency will test your health, because you need to be able and stomach the wild ups and downs, especially when... Read more...
If you need any more evidence that cryptocurrency mining is hitting primetime, look no further than this latest report that Samsung is looking into get in on the action. Samsung is reportedly producing application-specific integrated circuits (ASICs) for Chinese customers that will be use for Bitcoin mining. The initial report, which comes courtesy of a South Korean publication, cites Samsung officials as the source for this information. The chips allegedly completed the development phase late last year and entered production earlier this month. Samsung already confirmed today during its Q4 earrings call that it will see "benefit from cryptocurrency demand increase." This coincides with comments... Read more...
The side effects of the recent price gouging on GPUs from AMD and NVIDIA is now filtering down to sites that use affiliate links to generate additional revenue. One retailer in particular, Newegg, is cutting off the Video Card category for affiliate linking. Newegg attributes this change in policy to the fact that "Bitcoin has gone mainstream." "The limited nature of these cards have caused a shortage in which supply can never meet demand and thus many users are actively buying these cards as soon as they go in stock," writes Newegg. "So, this means effective in 7 days from now all VGA cards will be marked non-commissionable for the foreseeable future on all Business Units.” Under this... Read more...
Hey cryptocurrency investors, are we having fun yet? Indeed, it was all smiles and laughter when Bitcoin, the most popular digital coin out there, skyrocketed in value and topped $17,000 just last week. But like every thrill ride, it is the inevitable steep downward slopes that incite both panic and excitement. And so it goes with Bitcoin, which continues barreling down in value and today dipped below $10,000. Live look at cryptocurrency investors and miners So far today, Bitcoin's low is $9,199.59. On the week, Bitcoin's has lost nearly a third of its value, hitting its lowest level since November of last year. These types of swings are not uncommon for Bitcoin, and those who believe in the... Read more...
It helps to have nerves of steel when investing in cryptocurrencies, especially Bitcoin, which has seen some wild fluctuations over the year. Earlier this morning, for example, Bitcoin's value dived below the $12,000 mark, dropping 17 percent to a six-week low of $11,182.71. This recent slide comes after skyrocketing to more than $17,000 less than two weeks ago. A big reason for the dip is South Korea's hard stance on cryptocurrencies. In a radio program interview, South Korean Finance Minister Kim Dong-yeon reiterated that "the shutdown of virtual currency exchanges is still one of the options." The remarks follow similar ones made last week when Justice Minister Park Sang-ki stated there existed... Read more...
After witnessing Bitcoin's explosive growth, everyone and their uncle is now getting into cryptocurrency mining, some for extra money and others in hopes of striking it rich. There are now more than a thousand cryptocurrencies out there. With new miners now showing up in droves (and existing ones expanding their operations), the collective power consumption could be on track to outpace the needs of electric vehicles. Morgan Stanley analysts led by Nicholas Ashworth wrote in a note that cryptocurrency mining could require up to 140 terawatt-hours of electricity in 2018. To put that into perspective, that figure is in line with the total electricity consumption of Argentina, and is 0.6 percent... Read more...
Bitcoin's value dropped to below $13,000 earlier today, sliding around 14 percent after South Korea's government announced plans to ban cryptocurrency trading altogether. While perhaps a knee-jerk reaction and a temporary blip in the long run, there is cause for some concern, as South Korea is a major global hub for the virtual coin market. As such, the plan to ban cryptocurrency trading in the region is a bit of a big deal. "There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," Justice Minister Park Sang-ki stated during a news conference. Bitcoin has fallen below $13,000 on CoinDesk's Price... Read more...
To say bitcoin is volatile would be an understatement. It seems to either be surging or crashing with little signs of overall stability. This is the reason that Valve recently stopped accepting bitcoin as a method of payment. Last week was a rough one for those into bitcoin, as the cryptocurrency took a beating with as much as a 30% decline in value at one point. The good news if you have lots of bitcoin is that today the digital currency is rallying and has risen by around 15% to recover about half the losses sustained last week. At its lowest point on Friday of last week, bitcoin was worth $11,159.93. Earlier today, bitcoin was trading at $15,639. "The latest price move shows bitcoin is still... Read more...
With the price of Bitcoin and other cryptocurrencies booming, everyone is looking to make some money off the craze. One of the biggest players that is looking to get into the cryptocurrency craze is Goldman Sachs Group Inc. Word is that the company is looking to set up a trading desk for digital currency like Bitcoin according to sources that claim to be familiar with the plans. Goldman Sachs plans to have the new cryptocurrency desk up and running by June of 2018 according to the sources. If Goldman Sachs is set to enter into markets for cryptocurrency, you can bet other Wall Street firms are looking to do the same. Cryptocurrencies have been very volatile at times losing a huge portion... Read more...
Will the Bitcoin bubble ever burst? If so, when? Those are the questions that continue to elude investors and analysts alike, as each time Bitcoin's value rises to a new high, it seems like the end is in sight. But instead of ramming into an invisible ceiling and crashing down, it just keeps going up. To wit, Bitcoin's value recently topped $10,000, then $13,000, and now is trading at over $15,000. As of this writing, Bitcoin is trading at $15,331.92. Two years ago to the day, Bitcoin was valued at $424.38. And if you go back to December 2011 when Bitcoin was barely a blip, it was trading at around $3. If you have invested just $100 in Bitcoin at the time and been able to hold onto it, you'd... Read more...
Valve's love affair with Bitcoin is going through a rough patch even though the cryptocurrency was trading at $10,000 in late September and even higher today. Valve announced that as of December 6 it had decided to stop supporting Bitcoin as a payment method for games on its Steam platform. The specific reasons that Valve says it won’t take Bitcoin anymore are high fees and volatility. Valve wrote, "In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network. For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year,... Read more...
All eyes are on Bitcoin these days, mainly because of its meteoric rise in valuation. Just a day ago, with Bitcoin's price easily surpassing the $10,000 threshold and hopefully bullying its way into mainstream acceptance, there were reports that Nasdaq, Inc. would launch Bitcoin futures during the first half of next year. Sources within the company claimed that the move, which would make Nasdaq the third major U.S. exchange to dabble with Bitcoin, would take place sometime during the second quarter of 2018. It was also stated that such contracts would be traded on the Nasdaq's NFX market. However, commentary today from Nasdaq CEO Adena Friedman has thrown cold water on those earlier claims. According... Read more...
Christmas is coming early for long-term investors in Bitcoin. The red-hot cryptocurrency has skyrocketed during 2017, most recently crossing the $9,000 threshold on Sunday. At the time, we opined that Bitcoin could be well on its way toward hitting $10,000 by the end of the year. Well, we barely made it 48 hours and Bitcoin is within a stone's throw of $10,000. The cryptocurrency hit a high of $10,086 today, before settling down to $9,950. Bitcoin is up nearly 900 percent so far this year. It seems inevitable that Bitcoin will surpass $10,000 across all exchanges sooner rather than later, allowing it to cross a big psychological barrier and hopefully push further into the mainstream financial... Read more...
If you've been following cryptocurrency news over the past few months, then you know that Bitcoin has been on an incredible winning streak. On August 26th, Bitcoin was at $4,300. Three months later, Bitcoin's price has more than doubled. At this moment, Bitcoin has breached yet another high, sitting at $9,065. At the beginning of the month, Bitcoin crossed the $7,500 threshold and hit $8,000 just over a week ago. Today's milestone shows that Bitcoin's growing momentum could allow it to hit $10,000 by year's end. This latest push means that Bitcoin's market cap is now sitting at $151 billion. BITCOIN IS OVER 9000!!!!Been saving this meme for a while 😏 $BTC pic.twitter.com/RSFWX5xY0s— Arman... Read more...
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