bitcoin-continues-price-rally:-jump-over-$-17,000

Bitcoin continues price rally: jump over $ 17,000

The sharp rise in the price of Bitcoin continues. On Tuesday the oldest and best-known cryptocurrency rose above the mark of 17 for the first time since the beginning 2018. 000 U.S. dollar. The record high of around 20. 000 dollars, reached the end of 2017, is getting closer and closer. The platform Coinmarketcap currently calls an average price of around 17. 500 US dollars.

Bitcoin price had fallen to an annual low in March, but has since increased again with interruptions. Last week, for the first time since 2018, the mark of 16. 000 US dollars taken. Numerous observers see the price fantasies awakened by positive news about the plan of the payment service PayPal, which enables its customers to pay with Bitcoin and other digital currencies.

In particular, the crypto market seems to be also for institutional investors, i.e. the professionals to become more interesting. For example, the asset manager Grayscale, which operates crypto-money funds targeting large investors, reported record inflows of investor money in the past few weeks. According to their own statements, after strong acquisitions, they now hold over 500. 000 Bitcoin for the in-house fund, currently valued at around $ 8.5 billion. ( With material from dpa ) /

(axk)

bitcoin-spin-off-bitcoin-cash-is-splitting-again

Bitcoin spin-off Bitcoin Cash is splitting again

With the Bitcoin spin-off Bitcoin Cash, another spin-off took place on Sunday. Behind the fork is a group called Bitcoin ABC around the developer Amaury Sechet. Their goal was an update with a protocol change that was supposed to introduce a kind of mining tax at Bitcoin Cash: Eight percent of the mining income should be automatically transferred in order to finance developers working on the protocol of the crypto currency. This led to tough opposition in the community – and with block number 661647 ultimately to a hard fork with separate blockchains.

So far it clearly looks like the overwhelming majority of miners will opt for client software without miner tax. The opposite side, called Bitcoin Cash Node (BCHN), which refuses to submit, should have triumphed and probably carried on the name Bitcoin Cash and the ticker symbol BCH. The spokesman here is, among others, the crypto investor Roger Ver, who criticized ABC’s plans as a “dream of centralized Soviet-style planners”. Already in advance around 70 – 80 percent of the miners signals to favor BCHN.

Only six blocks for new chain Since the chains were separated, the ABC network has, according to the service coin.dance can only generate six blocks for the blockchain with new rules at the moment. The opposite side, however, comes across 100 blocks and clearly dominates the field. According to coin.dance, the hashing performance at BCHN is 1, 49 Exahash / s, ABC only comes to 0, 037 Exahash / s. However, it is not surprising that the miners primarily rely on a network where they do not have to pay a fee. ABC was only able to score points with the nodes in the network, around 35 percent accept the protocol change here.

In the run-up to the fork, some exchanges were rather skeptical about a Bitcoin ABC coin. Coinbase announced that it only supports BCHN and does not accept ABC. Kraken also sided with BCHN and declared that an ABC coin would only be listed if the network would be long-term 10 Percent of the Bitcoin cash hashrate. Binance said it favored the chain with the greatest hashing performance.

It remains to be seen whether Bitcoin ABC will become viable cryptocurrency at all. As part of the fork, the price of Bitcoin Cash fell slightly and is currently around 249 US dollars. According to figures from Coinmarketcap, Bitcoin Cash is currently number six among the cryptocurrencies in terms of market capitalization.

Judean Popular Front forks the Judean Popular Front Bitcoin Cash separated 2017 from Bitcoin and was the pioneer of a whole series of forks of Bitcoin. The bone of contention at the time was the inadequate scalability of the cryptocurrency and the related question of whether the bitcoin’s block size, which is limited to 1 MB, should not be increased. There was a split over that, and since a fork in August 2017 there are separate blockchains and separate currencies. Bitcoin Cash relies on larger block sizes in order to cope with more transactions onchain.

2018 there was then another fork of Bitcoin Cash, after tough public disputes, Bitcoin SV split off around the Australian Craig Wright. Wright had previously made headlines claiming he was Bitcoin inventor Satoshi Nakamoto without providing any evidence.

(axk)

paypal-will-now-let-all-users-in-the-us-buy-and-sell-cryptocurrencies

PayPal will now let all users in the US buy and sell cryptocurrencies

PayPal will now let all users in the US buy, sell, and hold cryptocurrencies right from their PayPal account. The news came in an update to a press release from last month announcing that the new functionality was on the way (via TechCrunch).

I’m seeing the functionality available in the PayPal app. For me, there’s a banner about the ability to buy cryptocurrency right at the top of the main screen, and if I tap that, I can choose to buy Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

The cryptocurrency section in the PayPal app.

PayPal’s support of cryptocurrency is a significant vote of confidence in the digital currencies and could encourage everyday users to adopt them. However, PayPal isn’t the first financial tech company to support cryptocurrencies; Square’s Cash app added support for Bitcoin in 2018, for example.

PayPal plans to expand cryptocurrency features to Venmo and to “select international markets” in the first half of next year. And in early 2021, PayPal plans to let you pay PayPal merchants with cryptocurrency.

for-the-first-time-since-2018:-bitcoin-briefly-back-over-16,000-us-dollars

For the first time since 2018: Bitcoin briefly back over 16,000 US dollars

The crypto currency Bitcoin continues course to past record highs: For the first time since 2018 digital money was again more than 16. 000 worth US dollars – although the exchange rate dropped again shortly afterwards. The Coinmarketcap service currently counts an average price of 15. 860 US dollars at the trading venues.

The last currency was around the turn of the year 2017 / 18 so popular. In the course of a crypto boom it climbed in December 2017 to almost 20.000 U.S. dollar, which was then followed by a hard price slide and the prices in the course of the year 2018 to lowest values ​​3400 US dollars plummeted. 2019 it continued with a clear recovery to around 11. 000 US Dollars and from the middle of the year then back south with exchange rates around the 7000 US dollars.

30 Percent plus in October An upturn at the beginning of this year was probably mainly due to Corona crisis slowed, which not only hit the conventional financial markets hard and partly drove Bitcoin to below 5000 US dollars in March. But since then it has been going up again and since the beginning of October the price trend has been pointing steeply upwards – in that month alone the gain was 30 Percent. How long this continues is completely open – entry at your own risk.

One message that could have favored the current price rush is entry Paypals into the crypto world. Together with the service provider Paxos, PayPal has so far only offered US customers relatively limited opportunities to buy and store crypto money – but the expansion of the service to other countries and the use of crypto money for purchases have already been announced.

Bitcoin, gold or both? However, this is primarily an end-user topic – the ever-increasing interest should also be essential for the course be the professional investor in crypto money. Among other things, analysts see the search for investment alternatives outside of the low interest rate environment as a possible reason for the current crypto boom. In addition, the huge corona aid programs of the governments would also bring additional liquidity into the financial markets – and they are now looking for returns.

For example, the US hedge fund billionaire Stanley Druckermiller asked the US Broadcasters CNBC understand that, in addition to gold, they also find Bitcoin interesting as protection against US dollar devaluation. Above all, it is investors of the millennial generation who prefer Bitcoin over gold, analyzed the US bank JP Morgan. Crypto investment vehicles like the Grayscale Bitcoin Trust also achieved record inflows.

Ethereum is also climbing An argument for current Boom, which is always mentioned in the crypto money scene: In May of the year, the reward miners received for a freshly generated block in the blockchain went from 12, 5 to 6, 25 Bitcoin halved. Which means that the supply of new Bitcoins is growing more and more slowly – from which some draw the reverse conclusion that the existing units of Bitcoin are increasing in value. The amount of money is limited to 21 million units.

Alongside the class leader Bitcoin, it drove also other crypto currencies such as Ethereum upwards. According to Coinmarketcap, the currency gained around percent percent this week alone, an ether is therefore currently worth 460 US dollars. Here, the near switch from block generation through proof-of-work to proof-of-stake could have driven the course – users should become validators of the Ethereum network with crypto money and receive a kind of crypto interest. At old peak rates of 1000 US dollars during the crypto boom 2017 / 18 Ethereum has not yet caught up.

(axk)

apple-supply-chain-partner-reportedly-hit-with-ransomware-attack

Apple supply chain partner reportedly hit with ransomware attack

Matthew Wilson
5 hours ago
Featured Tech News, General Tech

Later today, Apple is expected to announce its first Apple Silicon (ARM) powered MacBook. Unfortunately, some behind the scenes issues may already be complicating the launch, including one Apple partner being hit by a ransomware attack.

Compal, an Apple partner that helps assemble MacBooks, has apparently been hit with a ransomware attack this week. As reported by Bleeping Computer, the ones behind the attack are demanding 1,100 Bitcoin, which as 9to5Mac points out, would be worth $17 million USD at this point in time.

The specific attack here appears to be called ‘DoppelPaymer’, a ransomware operation that attacks enterprise targets by gaining access to administrative privileges and then spreading the malware to other PCs on the network.

Compal itself is trying to maintain a positive public outlook over this, claiming that this was an “abnormality in the office automation system”, rather than a more significant attack. Seemingly, everything will be back to normal at Compal soon enough. Whether or not this impacts Apple’s MacBook production queue at all remains to be seen. Apple will be announcing its first Apple Silicon powered Mac later today during a special event.

KitGuru Says: There seems to be some conflicting information here. Either way, this story will raise a few eyebrows during the first few weeks of MacBook availability once Apple launches new models. 

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