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Ledger Hack Victim Scam Details

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Victims of a hack of customer data held by bitcoin hardware wallet provider Ledger, which happened almost a year ago, are still apparently being targeted by scammers. Over 1 million victims of the hack had their details exposed, including their names, phone numbers and email addresses. And more than 200,000 people also had their home addresses breached.

Now, some of the victims appear to be receiving counterfeit hardware wallets through the mail. And a recent Reddit post indicates that the new scam attempt is quite sophisticated.



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Lolli Bitcoin Rewards Now On iOS

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CTO

Bitcoin rewards platform Lolli has announced the launch of a mobile app available on iOS devices.

The app gives users the ability to take advantage of Lolli’s “sats-back” ecommerce model, which offers bitcoin rewards for purchases and mainstream retailers including Microsoft, Kroger and Ulta Beauty. Previously, this was only available through Lolli’s web extension.

“The Lolli bitcoin rewards app offers even greater reward accessibility for mobile shopping and includes premium reward rates, a growing merchant network, referral bonuses, the option to view rewards in bitcoin or satoshis, Daily Stacks and faster reward confirmation times,” according to a press release shared with Bitcoin Magazine. “Lolli currently offers up to 30% and an average of 7% back in bitcoin rewards, and has already given over $3.5 million in merchant-funded bitcoin rewards to its users.”

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The Marathon Ethiopia And Bitcoin

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Economist

Africa is large, young and dynamic. What happens when a country like Ethiopia puts Bitcoin to the ultimate stress test?

I. Little Brother Bitcoin

Ethiopia, like most countries, is bound to have a Central Bank Digital Currency (CBDC), in the flavor of a U.S. dollar backed Ethiopian birr. This new CBDC will allow the State to continue printing currency in the digital age.

As reasoned by Alex Gladstein in Cato Journal’s recent essay, “Financial Freedom and Privacy in the Post-Cash World”, “Society is currently undergoing a historic shift away from paper‐​based, bearer asset daily money toward completely electronic, corporate ledger daily money. This change is part of a long trend of disuse of all bearer instruments, like stock certificates and bearer bonds.”

This strategic removal of cash (and some might argue privacy) from the economy will allow the State to go on spending, which will add to the inflation and debt cycle via its new digital currency. Some actors, including bureaucrats and self-serving organizations, will enjoy this increased State spending. Viewed from the perspective that petroleum production backs the USD, it’s fair to conclude that many of the actors in this inflationary-debt bubble have been acting in bad faith. More toxically, it may be commented that these “fiduciary” leaders of money and policy are intellectually dishonest and morally bankrupt. Henry Kissinger, for example, might add that “It is not a matter of what is true that counts, but a matter of what is perceived to be true.” And any honest dissenters to this hegemony, with the late Jamal Khashoggi coming to mind, are often met with a deadly response.

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Bitcoin Mining Bitfarms Trade On Nasdaq

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Bitfarms

Toronto-based Bitcoin mining business Bitfarms has announced that it will begin trading under the symbol “BITF” on Nasdaq on June 21. Common shares of the company have received DTC eligibility and it will retain its listing on the TSX Venture Exchange, according to a tweet thread from the company.

“Listing on Nasdaq is an important achievement for Bitfarms and is a significant milestone following multiple years of development and achievement by the company,” per the thread, which was quoting CEO Emiliano Grodzki. “We started this company four years ago with a clear belief in the institutional adoption of Bitcoin and Bitcoin mining.”



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Banning Bitcoin Is Like Herding Cats

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Baghdad

In the world of media, “If it bleeds, it leads,” is still very much a fashionable trope. However, when it comes to Bitcoin, there’s a new trope in town: “If it misleads, it leads.”

In a recent article for The New Republic, Jacob Silverman, a highly talented writer, discusses the recent ransomware attack on JBS Foods. On Sunday, May 30, the world’s largest meat processor suffered a massive cyberattack, shutting down a number of its operations in the United States and Australia. The attackers demanded payment via cryptocurrency. The JBS attack occured shortly after Colonial Pipeline, one of the largest pipeline operators in the U.S., admitted to paying a ransom of about $4.4 million in bitcoin.

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Lightning Network Over 1,500 BTC

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CEO

The Lightning Network, a Bitcoin Layer 2 scaling solution proposed in 2015 by Joseph Poon and Thaddeus Dryja, has grown a lot in just a few years. Now, the network has achieved a significant milestone of housing more than 1,500 BTC in its channels, roughly $56.55 million at the time of writing.

How The Bitcoin Lightning Network Works

The Lightning Network is a decentralized scaling solution for Bitcoin that abstracts small transactions between users away from the Bitcoin blockchain. It utilizes smart contracts to settle the final balance of those payments into the Bitcoin “base layer” while ensuring that all transactions abide by the rules of the Bitcoin protocol.



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NRCC To Accept Bitcoin Donations

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bitpay

According to Axios, the Republican Party’s U.S. House of Representatives campaign division will start accepting contributions in bitcoin, making the National Republican Congressional Committee (NRCC) the first U.S. party committee to accept BTC donations.

“We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed,” NRCC chairman Rep. Tom Emmer (R-Minn.) told Axios.

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World Bank Nixes El Salvador Bitcoin Help

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Alejandro Zelaya

As reported by Reuters, the World Bank has responded negatively to El Salvador’s request for help in fully implementing bitcoin as legal tender in the country, citing concerns about Bitcoin’s transparency and environmental impact.

“We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes,” a World Bank spokesperson told Reuters via email. “While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”

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FastBitcoins In Australia – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

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Australia

FastBitcoins, a platform that lets people invest in BTC online or in-person through prepaid vouchers, has announced that it will expand its platform to Australia and let customers there purchase bitcoin directly through their bank accounts.

An announcement shared with Bitcoin Magazine explained that the move was motivated by a growing interest in bitcoin among Australians and that it was enabled through a partnership with POLi, a local online debit payment platform.

“With awareness of the world’s most popular digital currency at 88% in the region [according to the Independent Reserve Cryptocurrency Index], FastBitcoins has built a service that capitalizes on consumers’ interest in Bitcoin, helping those who want to buy bitcoin as an investment but find existing buying methods such as exchanges, difficult to understand and use,” according to the announcement. “Users in the region can now log into their FastBitcoins account and select the option to buy their desired amount of bitcoin via bank transfer, where they are then safely and securely directed to their banking provider with POLi to authenticate and complete a bank transfer for payment.”

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As Inflation Surges, Bitcoin Maintains

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Actor

The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Here are some of the “highlights” of yesterday’s Federal Open Market Committee (FOMC) meeting:

  • POWELL: INFLATION COULD TURN OUT TO BE HIGHER AND MORE PERSISTENT THAN WE EXPECT
  • FOMC: FED MAINTAINS $80 BILLION TREASURY BUYING, $40 BILLION MBS BUYING PER MONTH
  • FOMC: FED WILL CONTINUE BOND BUYING UNTIL SUBSTANTIAL FURTHER PROGRESS ON GOALS
  • POWELL: EVEN AFTER LIFTOFF, POLICY WILL REMAIN HIGHLY ACCOMMODATIVE
  • POWELL: DOTS ARE NOT A GREAT FORECASTER OF FUTURE RATE MOVES

Powell’s comments on inflation were telling, but somewhat expected. There is nothing that could be said to escape the reality of the situation that the Federal Reserve (along with other global central banks) have found themselves in.

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