Cryptocurrency Mining Demand Exceeded the Expectations of Nvidia in Q4

Mining Bitcoin and cryptocurrency mining have provided a consistent and growing market for the computer hardware manufacturers that produce the relevant chips for each segment. The main player on the GPU side (in contrast to ASIC mining) in 2017 was Nvidia, but even it could not anticipate the strong demand from miners as the year progressed. Also Read: Nvidia Tries to Limit GPU Sales to Cryptocurrency Miners Mining Boosts Earnings Nvidia Corporation (NASDAQ: NVDA), the graphics processing unit (GPU) manufacturer, has reported a record revenue for the…

Vermont Lawyer Warns of Legal Complications Ahead for Cryptocurrency Miners

Are miners — the nodes on a blockchain that process transactions — partners in a company? And, if they are deemed partners, and a cryptocurrency project collapses leaving coin holders holding the bag, what legal construct is in place to protect miners from lawsuits? One Vermont lawyer sees a “nightmare” unfolding. Stepping back a few steps, last month, several news sites ran stories about proposed legislation (S.269) in Vermont put forth by Senator Alison Clarkson on January 3, 2018. Most focused on the tax element — blockchain projects based in…

Global Fund AlphaBit Backs Singapore Blockchain Startup BitCar

BitCar, a Singapore-based blockchain startup, has announced that AlphaBit, a fund launched last year, has purchased a “substantial number of BitCar tokens.” BitCar is currently conducting a token sale to fund the development of its blockchain platform, which intends to facilitate the pegging of cryptocurrency to scarce hard assets such as rare and exotic cards. The startup claims it has already sold S$8.2 million (US$6.1 million) worth of BitCar tokens. AlphaBit, a hybrid between an open-ended mutual fund and a hedge fund, raised US$300 million last year to invest in…

Chechnya Leader Kadyrov Buys Bitcoin to Follow Evolution

Economy & Regulation Striving to keep up with development, the president of Chechnya Ramzan Kadyrov has bought himself some bitcoins. The outspoken strongman of the once restive Russian republic has bragged about the purchase on social media. Whether that means “yes” to cryptocurrency in the Caucasus is ultimately up to Moscow. Nevertheless, the government in Grozny has been somewhat positive towards the concept of decentralization and has already moved to put some public records on a blockchain. Also read: Kazakhstan, Kyrgyzstan, and Uzbekistan on the Crypto Radar…

The 65 Percent Price Dip Has Made ‘Bitcoin Whales’ A lot More BTC

Finance Last year bitcoin had a phenomenal run leading up to its all-time high of $19,600 per BTC this past mid-December. The price over the past few weeks had since dipped to a low of $5,900 on Monday, February 5, losing close to 65 percent of its value in a short period. The dip has ‘rekt’ a lot of cryptocurrency traders but the ‘richest bitcoin holders’ have gained thousands more BTC taking full advantage of these significant price variances. Also read: Following Money Through the Bitcoin Laundry Is…

Iceland: Crypto Mining Companies Will Consume More Ene… | News

Iceland is set to consume more energy for crypto mining than for household use this year, the Associated Press reports Monday, Feb. 12. The naturally cold climate and access to renewable energy are listed as the primary reasons for the influx of crypto mining companies to the Nordic island nation. Icelandic businessman Johan Snorri Sigurbergsson of the energy company Hitaveita Sudurnesja predicts a doubling of the country’s cryptocurrency mining energy consumption to 100 megawatts this year, more energy than the 340,000 residents of Iceland will consume for personal use in…

This Week in Bitcoin: Who Do You Believe?

News The bitcoin space is a constant battle of truth versus untruth, rumor versus fact and optimism versus pessimism. With market manipulators up to their usual tricks and salty altcoiners crying FUD, it can be hard to tell what’s real and what’s fake. This week truly had it all: keks, lies, and videotape beamed live from the U.S. Senate. Throw in the obligatory multi-million dollar hack, and you’ve got all the makings of another seismic week in bitcoin. Also read: Japan Cracks Down on Foreign ICO Agency Operating…

Coingeek Launches £5 Million Bitcoin Cash Tokenization Contest

Smart Contracts A race to tokenize the bitcoin cash (BCH) cryptocurrency has just been triggered. Developers can now earn a whopping £5 million by bringing this advanced functionality to the cryptocurrency ecosystem, which means we might soon see smart contracts implemented with BCH. Tokenization can bring everything from land deeds to ICO coins onto the BCH network. Also Read: Roboforex Adds Bitcoin Cash and Three Other Cryptocurrency CFDs for Trading Bitcoin Cash Tokenization Coingeek, the cryptocurrency company led by the billionaire entrepreneur Calvin Ayre, has launched a bitcoin cash…