Montana Crypto Mine Back in Action Despite Owner’s Uncertain Legal Fate

CryptoWatt, a crypto mine based in Montana, recently resumed operations after connections to a fraudulent owner halted business. A cryptocurrency mine in Butte Montana fired up its servers today, resuming business without its former owner, an alleged fraudster.  After a legal appearance on the matter, part-owner Kevin Washington and operator Rick Tabish started up crypto mining business CryptoWatt once again, pulling the operation out of retirement, according to a Jan. 27 press release.  Authorities closed down CryptoWatt after jailing its owner, Matthew Goettsche, on a separate fraud account totaling $722…

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Fearing Revolt, Roger Ver’s Bitcoin.com Backs Down From Proposed BCH Mining Tax

According to a statement earlier today, Jan. 28, Roger Ver’s Bitcoin.com is backing down from its recently proposed Bitcoin Cash mining tax. According to a statement earlier today, Jan. 28, Roger Ver’s Bitcoin.com is backing down from the 12.5% mining tax on Bitcoin Cash they proposed along with other major BCH mining pools owing to the community’s overwhelming negative response to the proposal.  Bitcoin.com’s position Last week, Bitcoin Cash (BCH) personalities proposed a 12.5% tax on mining rewards that would ostensibly go to funding network development. Now Bitcoin.com has rejected…

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LocalBitcoins Quietly Suspends Accounts in Multiple Regions Without Notice

Finnish P2P exchange LocalBitcoins is allegedly quietly suspending user accounts, citing an “enhanced due diligence process.” Popular Bitcoin (BTC) exchange platform LocalBitcoins is allegedly suspending user accounts with little fanfare, citing an “enhanced due diligence process.” Finland-based LocalBitcoins, one of major global peer-to-peer (P2P) crypto exchanges, has reportedly suspended user accounts in some countries in Africa, the Middle East and Asia without warning, with some users being unable to withdraw their Bitcoin, Forbes reports Jan. 25. LocalBitcoins gives no public statement on the matter while the first reports came about…

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Cardano Breaks 6-Month Slump, Signaling Potential Altcoin Revival

Cardano (ADA) and other altcoins are all breaking out of their downtrends as the altcoin cryptocurrency market gains strength. Today Cardano (ADA) broke above its 6-month range and now follows the movements of large-cap altcoins like Bitcoin Cash ABC (BCH), Dash (DASH) and Ethereum Classic (ETC). Does this mean that altcoins are entirely out of the woods?  Crypto market daily performance. Source: Coin360 ADA/BTC breaks above its 6-month trading range Over the past 6 months, Cardano has traded in a sideways accumulation range between 0.000004-0.0000044 satoshis, while the resistance was…

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IBM Secures Patent for ‘Self-Aware Token’ to Record Events of Offline Transactions

Tech giant IBM has been awarded a patent for the development of a “self-aware token” designed to record events of an offline transaction. Tech giant IBM has been awarded a patent for the development of a “self-aware token” designed to record events of an offline transaction. A patent document filed with the United States Patent and Trademark Office describes a system, which relates to financial data processing in an electronic currency platform, as well as to processing e-commerce tokens, which have involved offline transactions. To track and record events of…

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Nimbus Receives Ethereum Foundation Grant to Work on Light 2.0 Client

Nimbus received a $650,000 grant from Ethereum Foundation to realize its vision of light Ethereum 2.0 clients running on smartphones and Raspberry Pi devices. The Ethereum Foundation awarded a $650,000 grant to Nimbus for continuing its work on light Ethereum 2.0 clients, a Jan. 28 press release announced. The project’s goal is to allow smartphones and embedded devices to run smart contract-capable nodes. Nimbus is an infrastructure project launched in March 2018 by Status. While initially conceived as a way to ensure access to the Status app on all smartphones,…

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UK High Court Orders Freeze on $1M of Bitcoin in Ransomware Case

A UK high court imposed a proprietary injunction on Bitcoin paid as ransom in a ransomware attack. A United Kingdom High Court ordered a proprietary injunction on Bitcoin (BTC) obtained through a ransomware attack on a Canadian insurance company. A proprietary injunction is an order which prevents a person from dealing with their own assets when it is subject of a proprietary claim. On Jan. 17, the UK High Court released documents concerning a ransomware attack, in which over 1,000 computers of the insurance company were rendered unusable through the…

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Draft of India’s National DLT Strategy Calls for State-Run Digital Rupee

A draft of an Indian national strategy on blockchain floats the idea of a central bank digital currency, the digital Indian rupee, and a national blockchain. A draft of India’s national strategy on blockchain and distributed ledger technology suggests a central bank digital currency (CBDC), the digital Indian rupee, and a national blockchain. The National Institute for Smart Governance (NISG), a non-profit public body incorporated by the government of India, has published a draft document on the country’s national blockchain strategy. Issued on Dec. 30, the document appears to have…

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Oil Giant Saudi Aramco Buys Into Blockchain Trading Platform Vakt

Saudi Aramco has joined the already sizeable list of oil companies partnered with Vakt, the provider of a blockchain-based trading settlement platform for North Sea oil. Saudi Arabia’s state oil company, Saudi Aramco, has bought into the blockchain-based oil trading company Vakt, Reuters reports on Jan. 28. Saudi Aramco’s Energy Ventures branch has bought $5 million in new shares, according to Vakt’s press release. The investment will be used to develop the platform, with a focus on expansion into the Asian market. In addition to investment, the oil conglomerate’s trading…

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BTC Price Back at $9,000 But No, Coronavirus Isn’t ‘Good for Bitcoin’

Any short-term gains to Bitcoin indirectly helped by the virus will reverse in time, a prominent trader warns, as the cryptocurrency hovers at $9,000. Bitcoin (BTC) may be gaining thanks to “economic fear” over coronavirus — but only up to a point, analysts are concluding as the disease spreads.  The cryptocurrency hovered at around $9,000 on Tuesday, capping 4% gains for the week in which coronavirus sent China into partial lockdown.  Coronavirus uncertainty creeps into markets Fears are now surfacing about the impact on Chinese economic growth, while global signals…

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