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Posts Tagged ‘bitcoin’

Bitcoin drops more than 10% after security breach

August 3rd, 2016 by Mark Daly in Industry News No Comments »
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The price of bitcoin has fallen more than 10% after the Hong Kong-based digital currency exchange Bitfinex said it had suffered a major hack. The security breach led to the possible theft of bitcoin worth $65m (£49m). Bitfinex told the Reuters news agency on Wednesday that nearly 120,000 bitcoin were stolen from its exchange platform. […]

Australia to sell £8m of seized bitcoins

May 31st, 2016 by Mark Daly in Industry News No Comments »
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A collection of bitcoins worth about £8m, which had been confiscated by police in Australia, will be auctioned off in June. The 24,518 bitcoins will be sold mostly in blocks of 2,000 – each with a market value of about £680,000. Ernst & Young, the firm organising the auction, said the bitcoins had been “confiscated […]

Bitcoin ‘creator’ backs out of Satoshi coin move ‘proof’

May 5th, 2016 by Mark Daly in Industry News No Comments »
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The entrepreneur who has claimed to be the inventor of Bitcoin has reneged on a promise to present new “proof” to support his case. Craig Wright had pledged to move some of the virtual currency from one of its early address blocks, an act many believe can only be done by the tech’s creator. This […]

Bitcoin could help cut power bills

February 19th, 2016 by Mark Daly in Industry News No Comments »
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The technology behind the Bitcoin virtual currency could help cut electricity bills, suggests research. A blockchain-based smart plug that can adjust power consumption minute-by-minute has been created by technologists at Accenture. The blockchain is the automated ledger that underpins Bitcoin and tracks where the coins are spent and swapped. The plug shops for different power […]

Bitcoin: Is the crypto-currency doomed?

January 18th, 2016 by Mark Daly in Industry News No Comments »
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A high-profile Bitcoin developer has said the crypto-currency has failed and he will no longer take part in its development. Mike Hearn, a Zurich-based developer and long-time proponent of Bitcoin, surprised many this weekend when he published a blog calling it a failed project. Mr Hearn, who had until recently been working on new software […]

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