Tuesday, August 4

10 Ways You Can Spend Bitcoin

Although there are several cryptocurrencies in the digital market, Bitcoin stands to be the best in real-world adoption. Even after eleven years of successful trading and application, there is a lot of confusion about how to use the currency. Here is a list of 10 broad domains where one can spend their Bitcoins. Buying Coffee or food In 2018, the coffee giant, Starbucks, announced a partnership with Microsoft on the new Bakkt app. Therefore, anyone can enjoy their favorite latte or cappuccino by paying through bitcoin using the Bakkt app. There are many such mobile applications available to help in payments through bitcoins in various restaurants around the world. Travel Bitcoin Exchange can make traveling to favorite destinations possible. The holder can book hotels on Expedi...

Criminal extradited from Cyprus for allegedly stealing Bitcoin

With the change of currency from physical to virtual, there are also cases of fraud and forgery reported by people who use virtual currency. One such case has recently come into light in the USA who is charged for stealing virtual currency bitcoin. According to reports from the Department of Justice, a criminal named Joshua Polloso Epifaniou was extradited from Cyprus on charges of stealing Bitcoins. It is alleged that the person stole thousands of Bitcoins from unsuspecting victims after their account details were hacked from several sources. He is wanted for various cyber intrusion crimes in Georgia and Arizona. Apart from that, even extortion charges have been pressed against the accused. Charges against Cyprus national Joshua Polloso is accused of committing several frauds with ...

Venezuelan Authorities Take Hold Of More Than 300 Bitcoin Mining Machines

Here’s all the tea about the sudden snatch of over 300 bitcoin (BTC) machines by Venezuelan Authorities. Before we come to the main issue here, here is a little note on Bitcoin mining. It is a very meticulous, highly expensive, and occasionally quite a rewarding procedure. However, mining has an attractive enticement for a lot of investors who are interested in cryptocurrency. This is because miners get rewards for the work they do with crypto tokens. The most probable reason behind this is that entrepreneurial types see mining as a very unexpected financial benefit, like California gold prospectors in 1849. How does Bitcoin Mining Function? Bitcoin mining is carried out by highly advanced and highly powered computer devices. Those devices can solve way too complicated mathematic...

Widespread Hacking On Australia

Some state-based cyber hackers are continuously targeting the government of Australia and many other institutions in the country, announced by Australia's Prime Minister Scott Morrison. He said that the attacks are quite widespread. It spread across all levels of government, along with the crucial services and businesses. He brushed aside the identification of a specific state actor and said no prominent personal data violation had been made. The attacks have already happened for months and are still increasing day by day. The Major Targets Morrison was not specific about the hacking cases. However, he mentioned that the government, industry, political organizations, education, health, essential service providers, and operators of other critical infrastructures are under cyber at...

US Homeland Security’s Startup Booster Calls Blockchain Startup Hunt

The Silicon Valley Innovation Program (SVIP), which acts as the startup booster of the DHS or the United States Department of Homeland Security, has recently started yet another hunt. It is primarily for an anti-counterfeiting project based on blockchain technology. The DHS is looking for the project to have flexible interoperability features. The renewal of hunt this year came on the day of Virtual Industry Day. The use case for the startups has been redefined by the Silicon Valley Innovation Program this time. This time, the array of use cases for use by startups includes food supply chain, natural gas, e-commerce, and also a sustainable alternative to Social Security Number. One of the use cases added by SVIP is for the essential worker license, which was mainly inspired by the COVI...

Why IBM’s blockchain isn’t a real blockchain?

In the world of IT, the name of IBM is much known as a primary service provider in various domains. It has come up with multiple technologies in the past some years that have proven the game-changer in the market. Recently this IT giant is again in the news, and this time it is for its penetration in another segment. IBM has recently introduced Hyperledger Fabric and is in the process to launch blockchain pilots with giants like Aetna and Walmart. IBM's version of blockchain called Fabric is promoted as a permissioned blockchain, and it has features similar to Ethereum and Bitcoins. However, it is facing some criticism from market participants as it leaves a lot of loopholes that are not integral to blockchains. It is also not scalable and compatible with public blockchains, which furt...

Bitcoins And Potential Regulations Of US Federal Agencies

In 2013, an event was hosted by the US Treasury Department's Financial Crimes and Enforcement Division (FinCEN). During this event, advocates of bitcoin met with a few federal agencies to discuss the possibilities of bringing Cryptocurrency under government regulation. The discussion revolved around involving law enforcement and financial agencies such as the Federal Bureau of Investigation, IRS, Drug Enforcement Administration, Secret Service, and Department of Homeland Security. The specialty of bitcoin is that it does not have a central governing body or central bank. Customers can send it using peer-to-peer networks that don't have any administration. The money is saved in a digital wallet, and each transaction made is stored in a blockchain. Since blockchains are public records, i...