Mining Like a Viking: How the Fjords of Norway Offer a Greener Alternative

“Make sure to close the door behind you,” Mathis Schultz, the CEO of Northern Bitcoin, said to me in a near shout. As we entered the backside of the shipping container, partitioned for the ASIC miners’ exhaust, Schultz wanted to make sure the heat emitted wouldn’t mingle with the temperature-controlled front end of the shipping container. The door opened, my senses, already ringing from the blaring of the ASICs’ mechanized grind, were ignited. Like stepping from one climate zone to the next, I was greeted by a wave of hot…

Op Ed: New Bermuda Legislation Will Create a Novel Class of Bank to …

As we reported on July 19, 2018, Bermuda is determined to establish itself as the leading jurisdiction for fintech entrepreneurs, in particular those involved in initial coin offerings (ICOs), digital assets and virtual currencies. Having recently passed the ICO Act and the Digital Asset Business Act (DABA), Bermuda’s Premier and Minister of Finance, the Hon. E. David Burt, JP, MP, and his cabinet are now focused on creating a new class of bank to facilitate Bermuda’s fintech initiative. The Bermuda Monetary Authority (BMA) has spearheaded a new bill, titled the…

eToro Signs U.K. Football Clubs in Sponsorship Deals, Pays With Bitcoin

Global investment platform eToro has partnered with British Premier League clubs in a sponsorship deal that could see future transfers of players in the English Premier League (EPL) settled in cryptocurrency. The seven clubs involved in the trial are Tottenham Hotspur, Leicester City, Southampton, Cardiff City, Brighton, Newcastle United and Crystal Palace. Speaking with Bitcoin Magazine, eToro U.K.’s Managing Director Iqbal Gandham said that one of the reasons why they partnered with the clubs was to increase awareness of bitcoin and the potential of the blockchain. “The blockchain technology that…

Op Ed: Making Friends With Time in the Cryptocurrency Space

What follows is an open letter from Jimmy Zhong, co-founder and CEO of IOST, to his team members and shared with Bitcoin Magazine with permission. Recently, I’ve been thinking about an ultimate way of safely storing value — gold, Bitcoin, real estate and power all came to mind. That’s when I started to realize that, in essence, the concept of a “store of value” is simply an act of consensus. Power, even, is no exception. Thousands of years ago, due to geographical and technological limitations, human beings relied on seashells as…

WeChat Shuts Down Numerous Crypto Media Accounts

Chinese social media giant WeChat has reportedly closed down accounts owned by several cryptocurrency and blockchain media accounts on its platform, local news outlet Lanjinger reports. The Tencent-owned company indicated in a statement that it had carried out the sudden purge in line with central government’s cryptocurrency policy. WeChat Purge Beginning on Tuesday, August 21, 2018, WeChat began implementing a sudden shutdown of no fewer than eight accounts linked to bitcoin and crypto news organizations. Some of affected platforms include Huobi News, Coindaily and Jinse Caijing. Tencent later confirmed the…

Today’s Bitcoin Price Pump Was Fueled by $100 Million in New Tethers

Early this morning, the bitcoin price leaped nearly $300 in just one minute, spurring a rally that carried the flagship cryptocurrency from $6,466 to $6,899 during a frenzied half-hour of trading. Analyzing Wednesday’s Bitcoin Price Pump Unfortunately, BTC proved unable to sustain that level, and after tapering off throughout the morning and early afternoon, the bitcoin price made a severe downward pivot that reversed the effects of the early morning rally. BTC/USD | Bitfinex As CCN reported, the pump occurred almost at the exact moment that BitMEX, the largest leveraged…

Crypto Market Stagnates on the Eve of the ProShares Bitcoin (ETF) Decision

Earlier this morning, during the BitMEX’s Bitcoin spike, the crypto markets looked like they were ready for a breakout as BTC almost got to levels above $7,000. BTC had increased by $400 dollars in a span of less than half an hour and was trading at $6,800. During this time period, the total crypto market capitalization had risen to $222.8 Billion from $210.6 Billion. The total market cap now seems to be going back to the levels before the BitMEX maintenance and currently at levels of $210 Billion. The hope…

Newsflash: Bitcoin Price – Bullish Territory Before a Sharp Return Near $6,400

At last, Bitcoin price stopped taking strikes from its crucial resistance level near $6,500 and went for a home run, instead. Then, the referee called it a foul. In simple words, Bitcoin crashed towards the same consolidation range that was holding it before the upside breakout. The BTC/USD on Wednesday attempted a strong upside breakout, rising as much as 7.8 percent and coming out of an overlong consolidation phase. The pair started began the day on a bearish note and slipped towards 6440-fiat. It, however, began to express a massive bullish sentiment…

BitMEX: Friend or Foe to Bitcoin (BTC)?

The cat is out of the bag and a lot of crypto traders and enthusiasts noticed what happened when the popular crypto exchange of BitMEX went offline for a brief period during a scheduled maintenance last night. The exchange that has traded over 1 Million Bitcoin (BTC) in a day on two occasions, has been the fan favorite for traders who are taking advantage of the bear market and want to short the digital assets of Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), EOS, Ethereum (ETH), Tron (TRX) and XRP.…

Manipulation in the Bitcoin Market?

As cryptocurrency exchange BitMEX initiated its scheduled maintenance on August 22, the Bitcoin price surged by 4 percent, during a period in which crypto traders could no longer short the dominant crypto. Analysts have stated that the strong rally of Bitcoin in the two-hour period during which BitMEX was temporarily down was not a coincidence. Was Bitcoin Market Manipulated? BitMEX is arguably the most popular margin trading platform for Bitcoin and Ethereum traders alongside Bitfinex. According to large FX market maker and crypto trader Alex Kruger, BitMEX has a 40…