A Bitcoin mining company just organized a fake protest

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It's the dirty bankers, man.
Image: jack morse/mashable

It’s difficult to stand out in the often bonkers world of cryptocurrency.

With all the scams, hacks, and animated dancing coins, it can be really hard to break through the noise and into the public’s consciousness with your surely revolutionary tech. That’s where the fake protest comes in. 

As the 2018 Consensus blockchain conference kicked off today in Midtown Manhattan, one bitcoin mining company apparently decided that the best way to make a splash was with a few shouts. As the event was getting started, a group of people could be found marching in front of the hotel hosting the 8,500-person-strong gathering. They chanted slogans like “hey hey, ho ho, Bitcoin has got to go,” and held signs informing anyone who passed by that “paper checks use less electricity!”

And, as things often go in the world of Bitcoin, everything was not as it seemed. 

The “protest” was ostensibly organized by a group calling itself Bankers Against Bitcoin, which, as you have probably guessed, is not a 100-percent real protest group. It does have real backing, though. Specifically, that of Bitcoin mining company Genesis Mining

Importantly, it’s not like Genesis Mining is trying to hide it. As the organizer’s website explains, the company wants everyone to get on the cryptocurrency rocket ship before it’s too late. 

“This protest is representative of what will happen to those industries and companies that fail to understand times have changed,” explained Genesis Mining CEO Marco Streng on the Bankers Against Bitcoin website. “The consumer abuse that’s been possible due to a lack of competition is over. The biggest competitor big banks have ever faced has arrived and it’s not a company or organization, it’s a decentralized technology.”

And Genesis Mining is here to help you avoid the soon-to-be grisly fate of the big banks with a “small,” “medium,” or “large” mining package for the low cost of $1,520, $4,440, or $12,960, respectively. 

Act now! Before it’s too late!

Image: genesis mining

We reached out to Genesis Mining with the hope of getting a little more background info on what appears to be, in effect, a well executed publicity stunt. Were the protesters, for example, paid? Unfortunately we don’t know, as we didn’t hear back as of press time. 

But that shouldn’t surprise anyone. After all, when it comes to making it in the world of cryptocurrency, simply grabbing headlines is often good enough. 

Read more: https://mashable.com/2018/05/14/consensus-2018-bankers-against-bitcoin/

Bitcoin hit a new record high over Thanksgiving weekend

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The cost of one bitcoin passed $9,000.

Bitcoin is getting more detailed and better to $10,000.

The cryptocurrency struck a record high of $9,033 per bitcoin early Sunday early morning. The cost increased progressively over the weekend and went beyond $9,000 at around 6:40 a.m. UTC (1:40 a.m. ET), inning accordance with CoinDesk’s Bitcoin Price Index . It now has a market cap of more than $150 billion.

Another digital currency ethereum likewise struck an all-time high of $485.18 on Saturday however has actually considering that dropped to $461.79 on Sunday, inning accordance with CoinMarketCap.

Bitcoin had actually been on an extraordinary run in the latter half of 2017. It was valued at $1,000 at the start of the year and is now closer to reaching the $10,000 mark as we inch towards to 2018. Bitcoin’s worth went beyond $5,000 and $6,000 in October and after that increased over $7,000 and $8,000 in November.

Price per one bitcoin

That stated, it’s prematurely to inform when the rate of Bitcoin will reach that $10,000 turning point due to the fact that the marketplaces act crazily and might deal with a rate correction, as The Merkle kept in mind .

Bitcoin was enhanced by financier interest around Thanksgiving and Black Friday shopping, a digital properties expert recommended to CNBC .

Indeed, Coinbase, the biggest bitcoin exchange in the United States, included around 100,000 accounts in between Wednesday and Friday today to reach an overall of 13.1 million. Coinbase had 4.9 million users this time in 2015, inning accordance with CNBC.

Read more: http://mashable.com/2017/11/26/bitcoin-9000-close-to-10000-price/

Uh oh, a major Bitcoin upgrade just got postponed indefinitely

No 2x today.
Image: Alexander Demianchuk/getty

It ain’t simple being Bitcoin. The cryptocurrency has actually gone through numerous forks in the course of the in 2015 while at the same time escalating in worth and was on course for possibly another fork set to happen in mid-November. It’s that tail end which has actually faced a quite severe speed bump.

Known as Segwit2x , the strategy was to both double the Bitcoin block size to 2MB and to move some deal information off the blockchain . To numerous in the Bitcoin neighborhood, the relocation was questionable. Questionable, in truth, that the backers of the strategy revealed in a November 8 e-mail they would be backing down.

“Although we highly think in the requirement for a bigger blocksize, there is something we
think is a lot more crucial: keeping the neighborhood together,” the e-mail from Mike Belshe, CEO of the bitcoin wallet software application BitGo, checks out. “Unfortunately, it is clear that we have actually not developed enough agreement for a tidy blocksize upgrade at this time. Advancing the existing course might divide the neighborhood and be a problem to Bitcoin’ s development. This was never ever the objective of Segwit2x.”

The e-mail was signed by other kept in mind stars worldwide of Bitcoin, consisting of Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees.

So exactly what does this mean for Bitcoin? In the short-term, it indicates the instant possibility of a tough fork disappears. In the long term? Will the block size permanently stay at 1MB — restricting deals and increasing charges in addition to it? That’s uncertain, however Belshe hopes this isn’t really the last we’ve become aware of doubling the block size.

“As costs increase on the blockchain, our company believe it will ultimately end up being apparent that on-chain capability boosts are essential,” he included. “When that occurs, we hope the neighborhood will come together and discover a service, potentially with a blocksize boost.”

The statement comes as the rate of Bitcoin passed $7,700 and appeared to be on its method to $8,000. It was just recently, on November 2, that Bitcoin struck $7,000 in worth for the very first time.

Read more: http://mashable.com/2017/11/08/bitcoin-segwit2x-called-off/

Bitcoin’s value is crazy high right now

Image: REX/Shutterstock

If you own Bitcoin, October has actually readied to you.

The worth of one bitcoin climbed up over $6,000 for the very first time on Friday less than 2 weeks after it pressed previous $5,000.

Bitcoin reached as high as $6,063 on Friday, inning accordance with the research study website CoinDesk, and was valued at around $6,034 at the time of this writing.

The highest-valued cryotpcurrency on earth wasn’t a thing 10 years back, however the continued increase of its worth reveals that maybe the higher world must begin taking note quicker instead of later on.

It’s uncertain why Bitcoin has actually increased at this rate in October. Observers have actually thrown away a couple of guesses, consisting of that maybe a scarcity of physical cash in Zimbabwe is increasing Bitcoin’s worth.

Right now does not appear like a great time to purchase, however, who understands, in a couple of months or years it might end up being a terrific choice.

Read more: http://mashable.com/2017/10/20/bitcoin-6000/