Ten Risks for Bitcoin and Other Digital Currencies

Viewing 14 posts - 16 through 29 (of 29 total)
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  • #13850
    TradersCom
    Keymaster

    Am sending A3 extra coffee for Christmas with $BTC now becoming a future and the new plaything 🙂

    #13854
    Assistanc3
    Participant

    people know me to well, sending me coffee is what everyone on the internets has said they would send….

    maybe that is why i am up all night, so much coffee

    #13855
    Assistanc3
    Participant

    Another Risk for Bitcoin and Other Digital Currencies

    competition – anyone could start a new one today

    #13982
    Assistanc3
    Participant

    Yapian, which owns Seoul-based cryptocurrency exchange named Youbit, filed for bankruptcy following cyberattack on Tuesday morning

    #13995
    MoneyNeverSleeps
    Participant

    [quote=”Assistanc3″ post=3614]Another Risk for Bitcoin and Other Digital Currencies

    competition – anyone could start a new one today[/quote]

    That will be the new game it then becomes the safest exchange, wallet etc

    #13996
    MoneyNeverSleeps
    Participant

    [quote=”Assistanc3″ post=3742]Yapian, which owns Seoul-based cryptocurrency exchange named Youbit, filed for bankruptcy following cyberattack on Tuesday morning[/quote]

    To me that is a huge risk – Gox was real and people forget

    #14014

    [size=5][b]LOAPI = MALWARE that cycles the CPU so badly that it almost “over clocks” and can physically damaging phones

    http://www.androidpolice.com/2017/12/20/cryptocurrency-mining-malware-loapi-capable-physically-damaging-phones/%5B/b%5D%5B/size%5D

    #14017
    Truman
    Participant

    The explosion of crypto in the past few weeks leaving a few marks – and not all of it good.

    #14284
    Helmholtz Watson
    Participant

    UPDATE: SEC is reminding investors to “exercise caution” with #cryptocurrencies – cryptocurrency sellers may not be following securities laws and face “substantial risk” that investments could be lost

    #14285
    Helmholtz Watson
    Participant

    The Israeli Securities Authority Statement

    “Stock exchange indices will not include any firm whose main activity is the investment, holding or mining of cryptocurrencies,”

    #14656

    [color=red][b]Data Breach – Coincheck largest crypto-currencies exchange for Japan impacted

    Authorities are investing a possible $500,000,000 theft in crypto-currencies as reported below.

    Coincheck: World’s biggest ever digital currency ‘theft'[/b][/color]
    http://www.bbc.com/news/world-asia-42845505

    One of Japan’s largest digital currency exchanges says it has lost some $534m (ÂŁ380m) worth of virtual money in a hacking attack on its network Coincheck suspended deposits and withdrawals for all crypto-currencies except Bitcoin as it assessed its losses in NEM, a lesser-known coin. If the theft is confirmed, it will be the largest involving digital currency.

    Another Tokyo exchange, MtGox, collapsed in 2014 after admitting that $400m had been stolen from its network. The stolen Coincheck money was said to be kept in a “hot wallet” – a part of the exchange connected to the internet. That contrasts with a cold wallet, where funds are stored securely offline. Coincheck says it has the digital address of where the money was sent and is going to do what it can to compensate investors. “It’s worth 58bn yen based on the calculation at the rate when detected,” he said at a press conference at the Tokyo Stock Exchange.

    Coincheck was still examining how many customers had been affected and trying to establish whether the break-in had been launched from Japan or another country. “We know where the funds were sent,” Mr Otsuka added. “We are tracing them and if we’re able to continue tracking, it may be possible to recover them. But it is something we are investigating at the moment.” Coincheck reported the incident to the police and to Japan’s Financial Services Agency.

    #18972
    Super Harley
    Participant

    This story became nasty Bitcoin’s price has fallen more than 12 percent over the last 24 hours to $5,400, the lowest price for the popular cryptocurrency in more than a year.

    Cryptocurrency sold off across the board
    Ethereum has fallen more than 15 percent over the last 24 hours
    Bitcoin Cash down 18 percent.

    Cryptocurrency fell ahead of a “hard fork” of Bitcoin Cash. Rival factions are pushing different, mutually incompatible versions of the spinoff cryptocurrency, and the two versions are scheduled to create separate, competing versions of the blockchain starting on Thursday. The schism could create confusion among users and damage the reputation of the cryptocurrency.

    Bitcoin Cash itself was created through another acrimonious hard fork last August. That schism was motivated by a disagreement about the size of blocks in bitcoin’s blockchain.

    Most of bitcoin’s developers favored retaining the 1 megabyte block-size limit that was in effect at the time (a hack called segregated witness has increased the effective block size since then). The hard limit contributed to severe congestion on the bitcoin network, pushing transaction fees up to a median of $34 in mid-December. Bitcoin Cash supporters created their own version of bitcoin with a much higher 8 megabyte block size limit (later raised to 32 megabytes)—allowing this rival version of bitcoin to process many more transactions per second with negligible transaction fees.

    Now Bitcoin Cash’s camp of big-block dissidents is about to divide once again. The schism pits the maintainers of the leading Bitcoin Cash implementation, called Bitcoin ABC, against Craig Wright. Wright is one of the most controversial figures in the bitcoin world. He has claimed to be bitcoin founder Satoshi Nakamoto, but his claim is doubted by a number of bitcoin insiders—Ethereum founder Vitalik Buterin has labeled Wright a “fraud.”

    The specific technical details of the schism aren’t very interesting—Bitcoin ABC wanted to tweak the bitcoin protocol, and Wright’s faction favors maintaining something closer to the original design. But the schism has devolved into a power struggle over who will control Bitcoin Cash in the future. Wright’s critics worry that having him closely associated with Bitcoin Cash could damage the reputation of Bitcoin Cash.

    To be clear, the controversy is internal to Bitcoin Cash, a community that split off from the main bitcoin community more than a year ago. So it’s not clear why it should have any negative impact on the value of mainstream bitcoin or other cryptocurrencies. But cryptocurrency trading tends to be highly correlated—when one cryptocurrency starts to fall in value, others often follow.

    https://arstechnica.com/tech-policy/2018/11/bitcoin-plunges-12-percent-reaching-lowest-value-in-a-year/

    #20317
    Super Harley
    Participant

    Wow What happened to #Bitcoin’s price volatility – it’s collapsed – monthly trading range of $BTC for March is 7.8%.
    Next lowest volatility – 21.2% at the beginning of 2017 and average monthly trading range since October 2013 is 53.7%.

    #25718
    TradersCom
    Keymaster

    As #Bitcoin hums over $58k more doubts from the Fed:

    Federal Reserve Bank of Richmond President Barkin says ” not hard any use-cases on BTC that have convinced him yet”
    Doesn’t drive a #Tesla or have #MARYJANE as a friend?

Viewing 14 posts - 16 through 29 (of 29 total)
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