Author: jmcmahon

Petro Gold Spawned After El Petro’s $735 Million Sales

Venezuelan president Maduro announces countries second commodity backed cryptocurrency ‘Petro Gold’ the day after ‘El Petro’s’ initial private sale raised $735 Million. Maduro Doubles Down With Petro Gold Once again President Nicolas Maduro took the podium to announce a government-owned cryptocurrency. This time instead of oil its the Petro Gold which is to be backed by precious metals. “Next week I‘m going to launch the petro gold, backed by gold, which is even more powerful, that will strengthen the petro,” Maduro said in a televised speech. The Petro which launched on Tuesday is reported to have raised $735 Million dollars on its...

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Telegram to Crush ICO Record in Second Round of Private Funding

Telegram has informed investors of a second private pre-sale of its cryptocurrency ICO despite raising $850 million in round one just a month ago. Telegram May Raise as Much as $1.6 Billion This week investors received an email from telegram CEO Pavel Durov informing them of a second pre-sale to the much-anticipated TON ICO. Though no exact amount has been determined sources are speculating that it will be around the same as the first round. If so that would make it a record-smashing $1.6 billion raised before the coin is even offered to public investors dwarfing the previous high...

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UK MPs to Study Bitcoin Benefits Despite Carney’s Dismissal

British MPs will participate in a committee to study the risks and benefits of Bitcoin and cryptocurrency despite Bank of England Governor Mark Carney writing it all off as a failure. UK Makes First Moves Toward Regulation A cross-party Treasury select committee of members of parliament announced on Thursday that they would launch an inquiry into digital currency as well as examine the underlying blockchain distributed ledger technology that powers it. This seemingly late move is prompted by last years investing craze that drove the value of Bitcoin and some other digital currencies to all-time highs and the subsequent market correction that saw the prices...

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Venezuela Named Cheapest Country to Mine Crypto as El Petro is Launched

As president, Nicolas Maduro rolls out the El Petro ICO, Venezuela is named the cheapest country in the world to mine Bitcoin. But is it also the most expensive place to live? The manual for the first 82.4 million units of the Venezuelan cryptocurrency, El Petro was made available for download in multiple languages yesterday to much international criticism. The digital currency, which is linked to the countries oil reserves, has been derided as a workaround of the economic sanctions created to allow those in power to increase their wealth in the crypto market. President Maduro announced that the valuation...

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Crypto Mining Craze Creates Global GPU Shortage

The cryptocurrency bull run of 2017 attracted multitudes of investors looking to get rich quick but it also created a mining boom that has resulted in a worldwide shortage of computer components. Miners Plunder Singapore, Hong Kong For Cheap Rigs Scores of miners from around the world come to the electronics bazaars in Asia to buy cryptocurrency rigs. Hong Kong’s Sham Shui Po and Singapore’s Sim Lim Square to name just a couple are jammed with people of all ages ordering specialized rigs. This new demand for mining rigs has revitalized these electronic markets that were dying only a few years ago...

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Can Steven Seagal’s Celebrity Power Help Fund B-Rated ICO?

Action star and martial arts master Steven Seagal’s latest role has him playing the part of cryptocurrency spokesman but, can his combination of Hollywood magic and Akito moves save this lost cause? Can This Ageing Action Star Kickstart Bitcoiins Success Steven Seagal has weathered over three decades in one of the toughest business there is by sticking to a formula; save the girl, beat the bad guys, uncover the conspiracy, try and be cool while doing it. His latest role as the spokesman for an ICO called Bitcoiin2Gen though may be his most difficult to sell. The token that invites...

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Bitcoin Processed $1 Billion While US Banks Stay Closed

Yesterday was President’s Day in America. Schools were shut, no government offices functioned and even the stock markets rested. While the banking system napped though over $7 billion in Bitcoin was traded. Bitcoin Rebounds As Banks Take The Day Off Unlike the stock and commodities markets, cryptocurrency trades 24/7. It recognizes no national holidays, doesn’t mind working on Sundays and stays up all night. Since January 3, 2009 when Bitcoin went online it has been functionally trading 99.99 percent of the time. In that same time period, there have been 216 bank holidays in America (more in other countries)...

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Phone Numbers Becoming Backdoor to Crypto Accounts

Hackers have discovered that the easiest and most direct way to steal cryptocurrency is to first steal phone numbers. Hijacked phone numbers are used to drain crypto accounts A growing number of online crimes begin with hackers persuading cellular phone companies to transfer a victim’s number to a device of their own. In many cases this allows the hacker to reset account passwords that use the phone number as a backup security measure gaining access to email, social media, and cryptocurrency accounts. Though many who have been hacked this way are reluctant to admit the crime even highly successful, technical...

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Protect Yourself And Your Cryptocurrency From Real Criminals

Security experts advise on how to keep yourself and your digital coin safe from  thieves that focus on the crypto-wealthy. Criminals targeting cryptocurrency investors Cases of thieves targeting those who have gotten wealthy from the boom in Bitcoin, Ethereum and other digital currencies are on the rise worldwide. From Phuket, Thailand, to Manhattan to the Ukraine, stories of kidnappings and even killings for access to peoples Bitcoin is becoming a staple in the world news. Fiat currency accounts in traditional banks and other holding systems have elaborate checks and countermeasures developed over a long time against thieves. The anonymous nature of cryptocurrency though assures criminals...

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As Bitcoin Goes Over $10,000, Analyst Makes Big Predictions For 2018

Unrepentant cryptocurrency bull Tom Lee predicts Bitcoin will reach $25,000 in 2018 and $125,000 by 2022. Aggressive Predictions For Bitcoin’s Future Tom Lee was the first major Wall Street analyst to cover Bitcoin and has remained bullish about the cryptocurrency market since. In his latest report, Fundstrat Global advisor’s head of research called for some high numbers in the coming years. Having analyzed 22 bitcoin depreciations of more than 20% he found that recoveries take 1.7 times the duration of a decline in a bull market, to which he added that this is still a bull market. Given that trend, Bitcoin...

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