Japan’s Internet Giant Could Control Six Percent Of Bitcoin Mining, Plans Next-Generation Center
Japanese Internet giant GMO has announced it will launch a Bitcoin mining business to corner around six percent of the market by 2018.
A disclosure which surfaced Thursday revealed plans to mine with 50,000 seven nm chips generating around 500 petahashes per second.
The initial cost to set up the project is “will be more than 10 percent of the consolidated noncurrent assets as of Dec. 31, 2016” of ¥3.489 bln ($32 mln).
“We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe,” a translated copy of the disclosure reads.
Full story at http://bit.ly/2xV1Rwf
Source: CoinTelegraph
Russian-Chinese Cryptocurrency Alliance Launch Delayed Over China's ICO Hitch
In a last-minute twist of events in Moscow today, leading Russian cryptocurrency platform KICKICO announced that the launch of its planned ‘Chinese-Russian Cryptocurrency Alliance’ would be delayed until clarification of the new Chinese regulatory framework on initial coin offerings (ICO’s). The Alliance’s formal launch had been planned for September 6 in the Russian capital along with a leading player from China.
Nevertheless, KICKICO’s partner CyberTrust did announce at a press conference held at the Ritz Carlton hotel in Moscow - with around 100 attendees including local and international media - the launch of a new "Russia-focused" exchange, CyberEX, in alliance with Chinese-based digital assets exchange C2CX.
A fund had also been conceived in collaboration with two leading Chinese platforms and Swiss-based ?rypto investment bank CyberTrust, with the goal to develop blockchain structures for start-ups in Russia and China. This would utilize KICKICO’s crypto crowdfunding platform.
The proceedings to mark this Russo-Chinese initiative - albeit now aborted until further notice - comes just days after the regulatory authorities in China were reported to be cracking down on ICOs and branded them legally questionable. No doubt the hand of the Chinese regulators may have put the kibosh on proceedings on the Alliance and the intended splash.
Full story at http://bit.ly/2xRRNDl
Source: Forbes
Russian Hackers Used 9000 computers to Mine Monero, Zcash, Other Cryptocurrencies
A group of hackers installed cryptocurrency mining malware on 9000 computers over two years, antivirus company Kaspersky Lab claims.
In new research reported by Russia Today, the provider said it had unearthed two Russian hacker groups which were hijacking machines to mine Monero and Zcash, among other cryptocurrencies.
The hackers controlled one batch of 4000, and another of 5000 computers.
"According to analysts, the hacker mining network brings its owners up to $30,000 per month," the publication quotes a Kaspersky source as saying.
Full story at http://bit.ly/2xV1QIH
Source: CoinTelegraph
Who Owns Bitcoin Universe: From Satoshi Nakamoto to Winklevoss Twins and More
The transparency of Bitcoin goes a long way in determining the price of the digital currency, as much of the market movement can be put down to where the money is moving. However, it is a lot harder to figure out to whom the money is moving.
Financial markets are determined by supply and demand factors, as well as information on who owns an asset and who wants to buy that asset. This of course relies on market transparency, as traders and insiders watch what hedge funds and pension funds are doing with their equity holdings.
Bitcoin is obviously slightly different as the digital currency is transparent - but anonymous.
Full story at http://bit.ly/2xV1QbF
Source: CoinTelegraph
Luxury Dubai High Rise Apartments Will Be Sold for Bitcoin
Through a partnership with Knox Group and the bitcoin payment processor Bitpay, a selection of 1,133 studio, one- and two-bedroom apartments, ready for completion by September 2019 will be sold for bitcoin. The Aston Development properties offer unique floor-to-ceiling windows with views of the Dubai Hills and city’s skyline. Further the project was developed by the well-known architects John R Harris & Partners alongside interior design by Michelle Mone Interiors. According to Knox Group, the development will feature three floors of cafes, restaurants, a supermarket, and boutiques.
Currently, studio properties will have a starting price of 33 BTC, and the real estate agency says early investors will get additional benefits. Additionally, packages of interior design services and furniture can also be purchased using bitcoin.
“I am thrilled to be launching a project of this scale as a step in the property development business,” explains Baroness Michelle Mone of Mayfair OBE. “This is also a natural progression from the launch of Michelle Mone Interiors – bringing together my two passions in business for the first time; design and property.”
"Doug and I are both trailblazers in our own business sectors, so of course, we wanted this to be different, unique and exciting — not just in the world of property, but also tech. This is why it is the first-ever development to be priced in bitcoin."
Full story at http://bit.ly/2xRELWA
Source: Bitcoin News
Cryptocurrencies have already recovered from last weekend’s crash
When cryptocurrency markets crashed 20% a few days ago, I wrote “the next day or so will tell us if this was a temporary bump in the road or the start of the next major correction.”
Well here we are, a day or so later. And the temporary crash seems to have just been a bump in the road. The entire market cap of cryptocurrencies is up 16% from a low of $135B yesterday to $162B today.
Bitcoin is back above $4,600, which is about 13% higher than yesterday. Ethereum is trading around $333, which is 16% higher than the low it hit earlier this week.
Checking the chart below shows that results are pretty similar across the board. Most currencies are up double digits over the last 24 hours, bringing them close to where they were before the weekend’s crash.
Full story at http://tcrn.ch/2xRRMPN
Source: TechCrunch
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