cryptocurrency news

Inside the mysterious Bitcoin hash that shook up the cryptocurrency community

#00000000000000000021e800c1e8df51b22c1588e5a624bea17e9faa34b2dc4aYou know how geeky the cryptocurrency community is, when this is the trending hashtag on Twitter.This long sequence is a ‘block hash’ — a cryptographic number that is produced when new transactions are validated and written on the Bitcoin blockchain. This particular hash belongs to block number 528249 created on Tuesday.Usually, no one is excited about block hashes — but there was something very peculiar about the sequence that threw the whole community into a frenzy.This was the presence of “21e8” in the middle of the string after the zeros end.“E8 Theory” is a theory in physics that attempts to describe all fundamental interactions in the universe such as gravitational, nuclear and electromagnetic forces. The theory was proposed by Antony Garrett Lisi in his paper “An exceptionally simple theory of everything” in 2007.The theory is not yet proven — and for the most part was never taken seriously by ‘mainstream’ physicist. But some cryptocurrency enthusiasts are reading between the lines to pitch their own conspiracy theory.


Crypto responds to the Bank of International Settlement’s bitcoin report

To bitcoin adherents, bitcoin and other cryptocurrencies are still a work in progress. Yes, its energy usage is an issue but it’s one that developers are aware of any trying to solve.One blockchain professional I spoke to on Thursday compared the BIS report to saying the world would be in trouble if a baby was put in charge. Babies tend to grow up before they are given any responsibility and crypto developers are hard at work helping bitcoin and other digital currencies grow up.”I don’t think many people appreciate just how early stage this technology is,” Jamie Burke, the founder and CEO of specialist bitcoin and blockchain VC fund Outlier Ventures, told the Blockchain Alternative Investment Conference in London on Monday.Something like 98% of bitcoin’s original code base has been rewritten since it was first created in 2009 and developers around the world continue to work on new ideas, solutions, and technology.Allarie said: “I’m deep, deep in it and I’m a pretty technical person and I cannot keep up. There’s so much. I’m not even close. There’s just so much activity and so much innovation happening. I’ve never seen anything like it, it’s just happening at such a pace.”


Bitcoin Price Manipulation Fueled Top Cryptocurrency’s 2017 Rally: Report

Bitcoin’s meteoric price spikes in 2017 were fueled by market manipulation and not merely investor enthusiasm. That’s the conclusion of University of Texas finance professor John Griffin.In his 66-page research paper entitled Is Bitcoin Really Un-Tethered?, Griffin said at least 50 percent of the increase in bitcoin prices in 2017 was manipulated using tether, another cryptocurrency pegged to the U.S. dollar.Professor Griffin, who specializes in spotting financial fraud, said circumstantial evidence suggests there was coordinated price manipulation designed to keep bitcoin prices artificially high.


Bitcoin Tumbles After Major Crypto Exchanges Subpoenaed For Manipulation, Coinrail Hacked

Bitcoin and other cryptocurrencies flash-crashed Saturday night, one day after the US Commodity Future Trading Commission (CFTC) sent subpoenas four cryptocurrency exchanges in an ongoing probe into bitcoin manipulation that began in late July – following the launch of bitcoin futures on the CME, according to the Wall Street Journal. CME’s bitcoin futures derive their final value from prices at four bitcoin exchanges: Bitstamp, Coinbase, itBit and Kraken. Manipulative trading in those markets could skew the price of bitcoin futures that the government directly regulates.In delay reaction, Bitcoin fell as much as $433 or 5.6% in Saturday night trading, with some noting that the flash crash happened shortly after a 90th ranked crypto exchange, Coinrail, had suffered a “cyber intrusion”, and was likely the more relevant catalyst for the crypto price drop.


Why give Bitcoin Cash (BCH) and Roger Ver a Chance?

Over the summer of 2017, there was a big battle brewing in the world of cryptocurrency. With the latest hard fork on the horizon, Bitcoin investors were nervously awaiting the creation of the new Bitcoin Cash. Some investors saw the…


Bitcoin Daily: U.S., Canada Probe Crypto Scams

In other news, state securities regulators in the U.S. and Canada have announced that they’re cracking down on crypto scams, Reuters reported. Regulators are looking into initial coin offerings (ICOs) and unregistered securities offerings in an operation dubbed “Operation Crypto-Sweep.” Through a task force, regulators have opened 70 investigations in the operation, as 35 investigations enforcement actions are pending or have already occurred. In some cases, regulators have issued cease and desist letters to alleged scams.


Crypto is getting hit as blockchain conference Consensus 2018 kicks off

Major cryptocurrencies were sliding Monday, with losses of up to 7%, as Consensus, one of the largest annual cryptocurrency conferences, kicks off in New York.

If history is any indication, cryptocurrencies should see a healthy rally during and after the conference according to data from Fundstrat Global Advisors. The firm says bitcoin has rallied anywhere from 10% to a 69% in previous years.

“Already one of the largest crypto conferences in the world, attendance this year is up dramatically (see below) and coming at a time when Bitcoin/Crypto is down YTD,” the firm said in a note to clients. “Hence, we expect the Consensus rally to be even larger than past years.”


Bitcoin faces ‘death cross’ after falling below $9 000

Bitcoin’s plunge back below $9,000 has the cryptocurrency facing a dreaded death cross. This occurs when the 50-day moving average breaks below its 200-day counterpart on a closing basis. As the name implies, it’s considered a bearish development.

This would be the first death cross for Bitcoin since 2015.

To be sure, there are some countervailing technical signals suggesting this event might not be so crippling. The 200-day moving average is still rising and served as intraday support Friday. In addition, Bitcoin is setting higher lows, with April’s trough higher than February’s.


Cryptos Crash After Nvidia Forecasts Big Drop In Mining Demand

Cryptos have been hit with a double whammy today.

Around 1pmET, the entire space tumbled almost instantly as large blocks went through in Bitcoin, with chatter suggesting the MtGox custodian was unloading once again. Prices quickly stabilized once that selling pressure abated.

However, shortly after the US market closed at 4pmET, Nvidia announced its results, posting quarterly sales that topped expectations.


Gold ETF Exec Switches Allegiance to Bitcoin ETF

According to Grayscale CEO Barry Silbert, the addition of McDonald to the team could help the firm to expand its reach as digital asset ETFs continue to become increasingly common and popular. Silbert explained that McDonald brings “a wealth of knowledge and experience managing ETFs and other complex financial instruments” to her new role, adding that “she will play a critical role for Grayscale as digital currencies continue to grow as an asset class for institutional and individual investors,” according to a report by PRNewsWire.com.

Grayscale is perhaps best known as the provider of single-asset and diversified investment products, most notably Bitcoin Investment Trust (GBTC), the first publicly-quoted instrument which was solely invested in bitcoin.