Category: Bitcoin

Watchtowers Are Coming to Lightning

“The Eye of Sauron casts its gaze upon the Lightning Network.” This is how Lightning Labs CTO Olaoluwa Osuntokun (aka, roasbeef) has heralded the coming of Watchtowers to the Lightning Network. Though comparing the technical feature to the demonic gaze of Tolkien’s primary antagonist sounds disconcerting, the analogy holds up on the surface: Watchtowers, as […]

Slush Pool Operator Braiins Set to Rollout Upgrades

Braiins, a cryptocurrency mining pool operator based in Prague, is rebranding its company’s operation and bringing all of its products under a single umbrella. Updates Are Coming Braiins is the company behind Slush Pool, the original cryptocurrency mining pool with a hash rate of 5.32 Eh/s, per its website. After operating in the mining sector […]

Op Ed: Debunking Bitcoin Myths: ‘It’s a Ponzi Scheme’

The accusation that bitcoin is nothing more than a Ponzi scheme is perhaps the oldest, longest-standing criticism of the digital bearer asset. The basic idea is that there is nothing of value here and the entire purpose of bitcoin’s existence is to enrich Satoshi Nakamoto and the speculators who bought in for a few pennies […]

Man Sentenced for Illegal Money Transmission Services on LocalBitcoins

U.S. citizen Morgan Rockcoons has been sentenced to fines and prison time for running unlicensed money exchange services on LocalBitcoins. Advertising himself on the peer-to-peer bitcoin trading network, Rockcoons made more than 1,000 transactions with hundreds of different users. The U.S. Department of Justice (DoJ) pursued him on charges of not registering his business with […]

Op Ed: Bitcoin in Africa, What Needs to Be Done to Encourage Adoption?

Bitcoin has the potential to revolutionize the African continent. Through Bitcoin, millions of unbanked Africans will have access to financial services. These and many more such statements exist across the internet. All these statements are true. But, despite all the benefits that Bitcoin is expected to bring to African countries, adoption levels in Africa continue […]

North Korean Hackers Attack Upbit Users in South Korea

North Korean hackers have made a phishing attempt on users of the South Korean crypto exchange Upbit. News correspondents in Korea broke this development on May 29, 2019, detailing the ploy to steal Upbit users’ information. The hackers sent out an email claiming that Upbit users needed to submit more information to become eligible for […]

Australian Government Publishes Update on Cryptocurrency and ICO Rules

The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs). In this guideline, the financial regulator outlines requirements that need to be followed for cryptocurrency businesses to be compliant with the ASIC Act. This update is noteworthy as the country continues […]

Exploring Illegal Mining Camps in Western China

This article was originally published by 8btc and written by Vincent He. Although China has shut down bitcoin trading platforms and deemed them illegal, its attitude toward bitcoin mining is still ambiguous. Now, 70 percent of the world’s bitcoins are produced in China, while 70 percent of China’s “stock” are in Sichuan, a western province […]