Items tagged with cryptocurrency

If you're a developer thinking of a way to slip a cryptocurrency mining app into the iOS App Store to make a quick buck, Apple is putting stop to that. The company has updated its developer guideline to explicitly ban cryptocurrency mining on the iPhone and the iPad. The updated rules can be found in Apple's App Store Review Guidelines under the "Hardware Compatibility" heading. Apple clearly states that power efficiency should be a clear goal for developers, given the battery constraints of a portable device like an iPad or iPhone (but especially the iPhone). "Apps should not rapidly... Read more...
Things aren't exactly rosy in the cryptocurrency world; particularly when it comes to Bitcoin. Over the weekend, South Korean cryptocurrency exchange Coinrail confirmed that it had been hacked. The site says that it was the victim of a "cyber intrusion" and that roughly 30 percent of the coins trades on the exchange were stolen. Coinrail said the remaining 70 percent of coins were safeguarded and have been moved to a "cold wallet". At this moment, it is believed that hackers got away with 40 billion won in Bitcoin, which amounts to $37.2 million.  Not surprisingly, this latest hack sent the... Read more...
Cryptocurrency mining appears to be evening out somewhat with regards to demand on hardware, which has thankfully resulted in GPU prices heading closer towards normalcy. However, for those that are still committed to build kickass rigs to mine for cryptocurrencies, ASUS is launching the new H370 Mining Master motherboard, which is based (obviously) on Intel's H370 Coffee Lake chipset. The LGA 1151 motherboards supports 8th generation Intel Core, Pentium and Celeron processors, and includes two DIMM slots for a maximum of 32GB DDR4-2666 memory. You'll find a single PCIe x16 slot,... Read more...
One of the biggest criticisms of cryptocurrency, and Bitcoin in particular, is the highly volatile nature of digital coins. However, that's for investors and miners to worry about. A larger concern that is starting to draw increased attention is the power usage that comes from mining cryptocurrencies on a large scale. Over in Washington, where power is relatively cheap compared to other parts of the country, there's a twofold concern—that power bills will go, and that electric utilities will not be able to keep up with demand. These are not new concerns. It was reported earlier this month... Read more...
If the current political climate has you wanting to pack your bags and get off the grid, you might be interested in what is to become the world's first independent floating nation. Called the Floating Island Project, this independent nation will consist of around 300 homes built on the island, along with a spattering of hotels, restaurants, an airport, and more, and will run under its own government using a cryptocurrency called Varyon. The concept has drawn the attention of philanthropists, academics, and various investors. It will cost up to $50 million and is being funded in large part by PayPal... Read more...
It's no secret that cryptocurrencies like Bitcoin and Ethereum have their loyal followers along with scathing detractors. Billionaire investor Warren Buffett has never been a fan of cryptocurrencies, but he ratcheted up the rhetoric this week by calling Bitcoin "rat poison squared". Buffett helms Berkshire Hathaway and made the comments at the company's 2018 annual shareholder meeting. He went on to further explain his comments to CNBC, stating, “It does create a rising price, creates more buyers ... If you don’t understand it, you get much more excited. People like to speculate,... Read more...
MyEtherWallet confirmed on Twitter that hackers hijacked its Domain Name System (DNS) servers and redirected users to a phishing site in Russia. By obtaining private keys from affected users, the hackers reportedly were able to swipe around 215 Ethereum coins (ETH) worth somewhere in the neighborhood of $150,000. The attack lasted for several hours, and one user in particular lost more than 85 ETH worth almost $60,000. In the Twitter post, MyEtherWallet emphasized that the security breach did not take place on its side of the equation, and that it's currently in the process of verifying exactly... Read more...
Bitmain, a popular manufacturer of ASIC hardware, is now taking pre-orders for a new model that could potentially (and finally) reduce the demand on graphics cards for cryptocurrency mining. Called the Antminer E3, the new Ethash ASIC is purpose built for mining Ethereum, the second biggest form of cryptocurrency after Bitcoin, and other cryptos based on the Ethash / Dagger-Hashimoto algorithm. Image Source: Bitmain ASICs (application-specific integrated circuit) are customized for a specific use and, generally speaking, are more efficient at mining certain types of cryptocurrencies than processors... Read more...
Cryptocurrency mining software has become quite an annoyance in recent months, as many unsavory types have latched on to the software to make a quick buck (at the expense of your computer's resources). Google is attempting to get a firm grasp on the situation before it gets out of hand inside the Chrome Web Store. Until recently, the policy of the Chrome Web Store has been to allow cryptocurrency mining extensions under the condition that this was its sole purpose. The intention was that if they were only mining-specific and that users were properly informed, they would know what they were getting... Read more...
When it comes to cryptocurrency mining, many small- and large-scale outfits have cornered the GPU market, buying up large quantities of current generation AMD and NVIDIA graphics cards. Gamers have especially been hit hard by miners, as even mainstream graphics cards that should be heading towards the bargain bin at this stage in their lifecycle are priced above MSRP. However, it looks as though Intel might have come up with a solution for a way to more efficiently mine for cryptocurrency instead of using hardware that was originally designed for an unrelated task. Intel's patent was filed on September... Read more...
We've heard a lot about failed initial coin offerings (ICOs) over the past year, and ICO research firm Satis Group has added its on detailed analysis of the madness surrounding these cryptocurrency fund raisers. According to Statis, roughly 81 percent of all ICOs in the past year have been outright scams, which is an alarming statistic. Satis defines an ICO scam as, "Any project that expressed availability of ICO investment, did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community." Things don't get much better from there; 6 percent... Read more...
Cryptocurrency mining is a phenomenon that many gamers and even some cities are having issues with. Gamers aren't happy because the miners are buying up all the graphics cards out there and making them hard to find and driving prices up. Some cities aren't happy because the miners are slurping up vast amounts of electricity and raising the rates for everyone in the town, this is exactly what happened in a small New York town recently. That said, for those that are willing to make an effort, even if on part time basis, re-purposing your gaming system can be a worthwhile and profitable effort,... Read more...
Ethereum has taken a swift kick to the blockchain after the Securities and Exchange Commission (SEC) announced that it has "dozens" of investigations open in the cryptocurrency space associated with ICOs (Initial Coin Offerings). The announcement of the investigations was made by an agency official on March 15. The confirmation that the investigations have been opened comes after SEC Enforcement Division co-Director Stephanie Avakian announced in February that subpoenas had been sent to firms that were believed to have broken securities laws. SEC scrutiny of ICOs (initial coin offerings) has grown... Read more...
Plattsburgh, New York is city that has just over 30,000 residents, and those citizens recently saw their power bills unexpectedly increase due to a problem that is starting to affect more people in the United States. We're talking about cryptocurrency mining, of course. Plattsburgh has placed an 18-month ban on new commercial cryptocurrency mining operations after the city was forced to buy additional power to keep up with demand, in turn causing everyone's rates to go up. For gamers, the rise in cryptocurrency mining means that the hot graphics cards that we'd like to get our hands are hard to... Read more...
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