Is bitcoin killing the environment? Fears grow over ‘alarming’ links to climate change

Biggest moments in Bitcoin history IBTimes US The growth of bitcoin is fuelling speculation and debate about the environmental impact of the collective energy needed to power the virtual currency in the era of climate change. As a result, there are many burning questions now emerging about the issue. Bitcoin is the most popular virtual currency in the world, and it has grown in value over the past 12 months. It was created in 2009 as a new way of paying for things that would not be subject to central…

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Experimenting With the Future of Bitcoin Smart Contracts

Blockchain developer Chain is releasing an open-source compiler and development environment for writing Bitcoin smart contracts using Ivy, a smart contract language developed in-house. Chain is best known for the open-source Chain protocol and Chain Core, an enterprise blockchain infrastructure that facilitates financial transactions on scalable, private blockchain networks. An open-source developer edition of Chain Core is available to developers, with a testnet operated by Chain. Ivy was developed at Chain as a smart contract language for Chain Core. With Ivy for Bitcoin, which compiles to Bitcoin Script, Chain wants…

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Our Top 5 Bitcoin “Good News” Stories of 2017

When the history of Bitcoin and blockchains is written, 2017 will be the year tagged as the “turning point” when Bitcoin and “red hot” blockchain technology went mainstream. The steadily rising bitcoin price and market cap is a key, though not the only, indicator that a tipping point has been reached. Despite turmoil like ICOs being banned in China and South Korea, cryptocurrencies in general coming under scrutiny in other countries, and internal divisions and infighting in the Bitcoin community, the price of bitcoin continued its steady trend upward, accelerating…

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South Korea to Tighten Bitcoin Exchange Rules Amid ‘Speculative’ Boom

The South Korean government announced today it will move to prohibit domestic cryptocurrency exchanges from allowing users to make transactions through anonymous accounts, local news sources report. As part of what appears to be a series of updates designed to improve oversight of industry practices, the government will also seek to bar banks from issuing new virtual accounts to cryptocurrency exchanges. According to the South Korean news agency Yonhap, the announcements were made by Hong Nam-ki, the minister of the Office for Government Policy Coordination, after discussion with vice ministers…

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El-Erian Predicts Bitcoin Crash if Savvier Investors Sit Out Correction

While bitcoin’s price has recovered and held almost half of what it lost last Friday, one commentator believes the bitcoin market has reached a crucial juncture. After the markets saw an epic drop of 45 percent in bitcoin’s price on Dec 22 — down to $10,800, taking nearly every other cryptocurrency down with it, the price has since rebounded somewhat. Meanwhile, the chief economic advisor of Allianz SE and former CEO of Pimco Mohamed El-Erian has asked whether or not this could be a make or break moment for the…

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Massachusetts Securities Regulator: Bitcoin Fails ‘The Smell Test’

The top securities regulator in Massachusetts told CNBC yesterday that the bitcoin market is “entirely speculation.” “It doesn’t pass the smell test,” said Secretary of the Commonwealth William Galvin, whose responsibilities include overseeing the state’s securities division. He warned: “It’s also subject to manipulation, because no one can explain it, no one can control it.” Galvin’s comments are the latest from U.S. regulators that warn investors about risks associated with cryptocurrencies, following the Securities Exchange Commission and the Financial Industry Regulatory Authority earlier this month. Yet, it wasn’t Galvin’s first…

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2018 and Beyond: Tokens Are Slowly Eating the Firm

Tekin Salimi is a corporate lawyer and principal at Xastris.io, a blockchain advisory firm specializing in regulatory, capital markets and ICO execution services. The following article is an exclusive contribution to CoinDesk’s 2017 in Review. One of the most fascinating outcomes of the 2017 gold rush into open-source protocol development is the growth of “community management” – a business function that combines elements of marketing, business development, investor relations and human resources. Community managers are being hired en masse. Their job is to oversee all matters relating to a blockchain project’s…

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Bitcoin Among Year’s Top Searches, Google Data Says

Are people searching more for news about bitcoin or North Korea? According to recently released data from Google, bitcoin may be on top. As detailed in the search giant’s “Year in Search 2017,” an overview of what was trending in 2017, bitcoin ranked second under the “Global News” category, a distinction that indicates search volume was higher for the technology than even some of the year’s more talked-about news events including the Les Vegas shooting and this year’s Solar Eclipse. Similarly, “How to buy bitcoin” also took the third spot under the list’s…

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Hacks, Scams and Attacks: Blockchain’s 2017 Disasters

Hard forks? Soft forks? ICOs? Bombarded by no shortage of unfamiliar technical terms in 2017, consumers in the blockchain sector once again proved a ripe target for hackers and criminals. But, not all hacks and scams were created equal. Some rose above the froth – either due to their size or impact – as well as what they said about the state of blockchain technology and the industry itself. Still, the impacts of these incidents were far from academic. Whether it was a simple wallet hack, fraudulent ICO or a bug…

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Singapore Court Dismisses Summary Judgment for $43 Million Bitcoin Dispute

The Singapore International Commercial Court ruled today to dismiss an application of summary judgment for a lawsuit where the plaintiff attempted to reclaim 3,092 bitcoin from a cryptocurrency exchange, document shows. First filed in April this year by the U.K.-based market maker B2C2, against the Singapore cryptocurrency exchange Quoine, the case has become notable due to the large amount of bitcoin involved. The 3,092 bitcoin at stake worth $3.7 million at the time but spiked to $43 million currently, data from CoinDesk’s Bitcoin Price Index shows. As reported before by CoinDesk, in…

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