Defying Reality, Famous Economist Nouriel Roubini Declares Crypto “Went Bust for Good”

Defying Reality, Famous Economist Nouriel Roubini Declares Crypto “Went Bust for Good”

The famed economist Nouriel Roubini is known for many things; subtlety is not one of them. In recent years, the famous NYU professor – who rose to stardom after predicting the 2007-2008 financial crisis – has been repeatedly attacking Bitcoin specifically and cryptocurrency in general. He even went as far as referring to crypto as “worse than North Korea” and calling Ethereum founder Vitalik Buterin “Dictator for Life.” Not very subtle. Now, after he took…

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Tether Under Investigation of the US Justice Department for Bitcoin Price Manipulations

Tether Under Investigation of the US Justice Department for Bitcoin Price Manipulations

Bitcoin has experienced a volatile history, and particularly in the last year. Bitcoin reached new heights in 2017, before falling rapidly in a matter of hours, and continued falling. Fast forward to 2018, and just recently hit its new low for 2018. Cryptocurrency has always been considered volatile, it can increase in value and decrease in value significantly in a matter of hours. For this reason, many potential investors have been stung and put off…

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Crypto Miners in Chelan County Protest Proposed Cryptocurrency Rate Structure

Crypto Miners in Chelan County Protest Proposed Cryptocurrency Rate Structure

An increase in the rate structure for cryptocurrency mining has been proposed by the Chelan County Public Utility District (PUB). Miners, on the other hand, say it is not in their best interest. The debate for an increased rate for cryptocurrency mining has been going on for some time. At the center of this debate is the amount of power consumed by mining cryptocurrencies. Most times, the amount of power required to mine cryptocurrencies surpasses…

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U.S. Deputy Attorney General Rosenstein Calls for More Joint Global Efforts to Battle Crypto Crime

U.S. Deputy Attorney General Rosenstein Calls for More Joint Global Efforts to Battle Crypto Crime

Rod Rosenstein, U.S. Deputy Attorney General, has risen to prominence primarily due to his responsibility and oversight over the Special Counsel investigation (AKA the Mueller investigation) – an eminent role which he held until recently. But (apparently) Rosenstein also has other duties and responsibilities as well; one of them is being on top of cybercrime. In a recent speech at the Interpol 87th General Assembly in Dubai, Rosenstein addressed this surging issue while dedicating parts…

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Crypto Meltdown: Bitcoin and Other Cryptocurrencies Plunge to Lowest Prices in 2018

Crypto Meltdown: Bitcoin and Other Cryptocurrencies Plunge to Lowest Prices in 2018

Winter is coming! That is if it isn’t here already. This year hasn’t been a very good one for cryptocurrencies and it seems the worst is yet to come. Fear in the crypto sphere is being fuelled by the recent slump of Bitcoin ($5,219, -5.6%) and other cryptocurrencies such as Ripple ($0.482, -4.87%), Litecoin ($37.63, -9.74%), and Ethereum ($153.9, -11.4%). According to a Bloomberg report from November 16, cryptocurrencies have yet to receive another blow…

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Many Uncertainties Still Surround the Approval of the ‘First Bitcoin ETF’ by the SEC

Many Uncertainties Still Surround the Approval of the ‘First Bitcoin ETF’ by the SEC

Should Bitcoin be a regulated digital asset or a free disruptive innovation or somehow a combination of both? The above question has been a reoccurring topic in the cryptosphere. While many believe that Bitcoin is a regulated product and could cause no harm, others are of the opinion that it both a disruptive innovation and a regulated product. This makes it difficult for the United States Securities and Exchange Commission (U.S. SEC) to approve a…

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Report: Mining Ethereum with GPU Becomes Unprofitable

Report: Mining Ethereum with GPU Becomes Unprofitable

Mining cryptocurrencies, especially Ethereum (ETH), using a graphics processing unit (GPU) has been confirmed to yield little to no gain. This is according to a new report by CNBC on the 13th of November. The slump in cryptocurrency mining is a resultant effect of the drastic fall in the price of Bitcoin in 2018. According to some estimates, Bitcoin also dropped to a point where it was not profitable to mine it anymore. Mining of…

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Tokyo Police Shuts Down Cryptocurrency Pyramid Scam, Arrests 8 Men

Tokyo Police Shuts Down Cryptocurrency Pyramid Scam, Arrests 8 Men

When investing in cryptocurrency it’s extremely important to be mindful of various scams that you could be targeted for. There are a number of individuals that are working to create scams that con people out of Bitcoins and other cryptocurrency. Because it’s quite easy to transfer crypto and because it could be difficult to receive a refund on cryptocurrency, it can be one of the perfect tools for the creation of financial scams. A recent…

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Bitcoin Scammers Hack into Twitter Accounts of Target, The Body Shop (Among Others)

Bitcoin Scammers Hack into Twitter Accounts of Target, The Body Shop (Among Others)

Target and The Body Shop were targeted in a new wave of verified Twitter account hacks. This new attack follows a wave of similar attacks, including the attack where hackers masqueraded as Elon Musk by changing the name of other verified accounts they hacked into. Hackers used Elon Musk’s identity and credibility within the industry to encourage users ot part with their Bitcoin in exchange for more Bitcoin that never materialized. In this latest attack,…

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Crypto Trader Fined $1.1 Million for Running Bitcoin and Litecoin Scams

Crypto Trader Fined $1.1 Million for Running Bitcoin and Litecoin Scams

A press release issued on the 9th of November 2018 by the U.S. Commodity Futures Trading Commission (CFTC) stated that Joseph Kim of Phoenix, Arizona was ordered to pay $1.146 million in restitution to his company and customers for his fraudulent Bitcoin and Litecoin scheme. According to the press release, Joseph Kim – a former crypto trader with Firm (a Chicago-based proprietary trading firm) – admitted to defrauding his employer and dubiously obtaining funds from…

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