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Category: Bitcoinist

Bait and Switch? Controversial Bitcoin.com Wallet Defaults to Bitcoin Cash

The Bitcoin wallet provided by Bitcoin.com is defaulting to Bitcoin clone Bitcoin Cash (BCH) instead of Bitcoin (BTC). Users sending Bitcoins to a BCH address could potentially lose their coins. The controversy was brought to light on a posting on Reddit’s /r/Bitcoin, where one user claimed that the Bitcoin.com wallet defaulting to a BCH wallet is a “scam”. The move is certainly confusing, as the Bitcoin.com wallet which defaults to Bitcoin Cash is called a

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People Turn to Bitcoin During Times of Crisis

The ongoing turmoil in Zimbabwe reinforces the fact that people around the world are increasingly turning to Bitcoin in times of crisis. In times of crisis, individuals look to a number of things to help support them through the troubled times. Some of these items include faith, family, and a belief that better times are just around the corner. Another article that people are turning to during a major crisis is Bitcoin. Uncertain Times Lead

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Investors Should be More Careful in Which ICOs They Invest

As Initial Coin Offerings are rising in popularity, experts are advising investors to be careful about fraudulent token sales. Fraudulent ICOs Initial Coin Offerings, or ICOs, have become increasingly popular over the past year. Many interesting projects and startups have decided to raise funds through ICOs instead of through venture capitalists. According to the cryptocurrency statistics website CoinSchedule, over $3 billion was invested in many different token sales this year alone. The reason why so

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Prominent US Politician Promoting Bitcoin-Based Retirement Investments

Bitcoin-based retirement instruments are increasingly attracting the interest of millennials, as well as influential politicians. In fact, former GOP Congressman Ron Paul is already encouraging people to buy Bitcoin-based retirement instruments. Ron Paul Is Touting Bitcoin IRAs For the past few years, some U.S. politicians have been interested in grabbing the benefits that cryptocurrencies bring. For example, Senator Rand Paul (R-KY), who is also a former U.S. presidential candidate, accepted contributions in Bitcoin during his

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How to Secure Your Cryptocurrency Wallet: 16 Simple Tips for Beginners

Literally millions of people have joined the world of cryptocurrencies recently. For example, Coinbase, one of the biggest cryptocurrency exchanges, has added around 2 million new clients within two months. Blockchain.com, the major electronic wallet, found its client base increase by 1.8 million during the same time frame. Most of these people are newbies, unacquainted with security issues and risks that surround complex but currently profitable cryptocurrency realm. This makes them easy targets for cybercriminals

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First Ever Cross Chain Atomic Swap Between Bitcoin and Litecoin a Success

The Lightning Network brought to Bitcoin with Segwit enables users to instantly exchange Bitcoin for Litecoin and vice versa. The first ever transaction between the two coins has now happened. Segwit (short for Segmented Witness) brought with it many new exciting features for Bitcoin when it was implemented in August this year, not least of them atomic swaps and the Lightning Network. The Lightning Network is an off chain network, that can, among other things,

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Bitcoin Hits $8,000 as the Segwit2x Hard-Fork Fails

Bitcoin renewed its unrelenting trajectory into the stratosphere and reached a fresh all-time high of $8,040 USD during intraday trading on November 17, 2017. On the same date, a group of developers unsuccessfully attempted to implement the Segwit2x hard-fork. Segwit2x Revisited Bitcoin punctured the $8,000 USD resistance price level. The Bitcoin surge occurred as a group of developers attempted to implement the Segwit2x hard-fork of Bitcoin’s blockchain. However, as of this writing, the Segwit2x team

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Could Cryptocurrencies Take Over the US Dollar as World Reserve Currency?

The total cryptocurrency market managed to reach a market valuation of over $200 billion this year, and this has caught the attention of the entire finance world. Could Bitcoin Replace the Dollar? Cryptocurrencies were the clear winner of 2017. Major cryptocurrencies like Bitcoin, Ethereum and Litecoin have massively increased in value over the year, effectively outperforming investments like stocks, commodities, and bonds. The incredible performance of cryptocurrencies has given many skeptical people in the finance and

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SegWit, Tony? BitPay CEO’s Fee Estimates ’20x Too High’

BitPay CEO Tony Gallippi has received widespread condemnation after complaining non-SegWit Bitcoin fees were too high. Newbery: Customers Should Vote With Their Feet In a series of tweets, Gallippi, whose payment provider is yet to implement SegWit, implied Bitcoin was unspendable by over half of wallets. He had used a fee estimate “20x too high,” responses then retorted, with engineer John Newbery pointing out that fees for three previous blocks were 22 satoshis/ byte or

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Can ICOs by Mainstream Companies Lead to Cryptocurrency Mass Adoption?

Initial Coin Offerings (ICOs) are a new crowdfunding phenomenon that is making waves both in and outside of the cryptocurrency space. A recent report by Deloitte estimate that over 26,000 Blockchain Projects got started in 2016 and other estimates also put ICO funding near the $1 Bln mark for Q2 2017 alone. Crypto and ICOs The incredible amount of funds that have been gathered by projects doing Initial Coin Offerings has, in turn, attracted more

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How Envion Mobile Mining Units Can Reduce the Industry’s Carbon Footprint

The total hash power of almost every major coin has been rising exponentially this year, which is raising major concerns about the industry’s high level of power consumption. While most profitable miners have access to subsidized electricity, the industry needs to move to renewable energy to minimize environmental impact. [Note: This is a sponsored article.] Environmental Impact The past thirty years have been characterized by a huge push for environmental conservation, with study after study

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Bitcoin to Hit $200k? BTC Users (Almost) Think So

According to a new investor survey, the average Bitcoin user thinks the #1 cryptocurrency will near an astounding $200k per coin one day. Will BTC be able to make that steep, 30x climb? Financial resources provider LendEDU has just published the results of a new investor survey targeting Bitcoin users, and the respondents feel bullish on the current number #1 cryptocurrency, to say the least. 564 Americans participated in the poll, which was first commissioned

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