Cryptocurrency News With URL like coincentral.com - page 2

What?s a Sybil Attack & How Do Blockchains Mitigate Them? - CoinCentral
A Sybil attack is an attempt to control a peer network by creating multiple fake identities. To outside observers, these fake identities appear to be unique users. However, behind the scenes, a single entity controls many identities at once. As a result, that entity can influence the network through additional voting power in a democratic network, or echo chamber messaging in a social network. The United States recent trouble with Russian election influence via fake accounts on social media is an easy-to-understand example of a pseudo-Sybil attack. Although the fake accounts and bots didn't hack into Facebook or Twitter, they still used multiple identities to influence the entire network. Because Sybil attacks are so subversive and easy to conceal, it can be difficult to tell when a single entity controls many accounts. Indeed, Facebook didn't even realize the extent of fake accounts on their platform until internal investigations months after much of the damage was already done.
How to Get a Loan in BTC: What You Need to Know | CoinCentral
Loans: Some people need them. Some people make them. And, up until recently, all bank and P2P loans were transacted in fiat currency . But one big question for Bitcoin aficionados has been: how to get a loan in BTC?. Is a loan in Bitcoin feasible for you Does it make financial sense for you How/where can you get a loan in Bitcoin Follow along and you'll learn the basics right here. Before you learn how to get a loan in BTC first ask yourself some hard questions: Banks and other fiat-based lenders use your credit score, annual income, debt load, etc. to determine if you're an acceptable credit risk. Your loan interest rate will be determined by those metrics. For example, US-based Lightstream.com may grant you a 24-month, $10,000 home improvement loan at a rate of 4.99 to 12.24%. A PreK-12 education loan comes with an interest rate range of 6.24 to 13.69%. There are no loan origination fees.
How to Mine IOTA Without Installing a Full Node - CoinCentral
Learning how to mine IOTA takes a little research and patience. This is because the cryptocurrency is unique in many aspects. Unlike most cryptocurrencies , IOTA doesn't utilize a blockchain network or require miners to validate transactions. Additionally, you never pay transaction fees. All of these factors and more make IOTA an attractive option for cryptocurrency investors and miners alike. The only problem is that it takes some effort to learn how to mine IOTA without dedicating your entire PC. IOTA officially entered the crypto space in 2015. The project's director is the IOTA Foundation. This non-profit organization is responsible for the continual development of the network, including forming strategic partnerships. To date, the company has created partnerships with some of the largest firms in the world including Fujitsu, Samsung, Bosch, and Volkswagen.
Are USB ASIC Miner Devices Profitable? - CoinCentral
In this article, we look at some of the top USB ASIC miner devices on the market as well as explain the advantages and disadvantages of using a USB ASIC miner versus traditional mining hardware . Finally, we try to assess whether or not the profits justify the costs of buying one of these devices. Before getting started, it's important to ask yourself, Why should I buy a USB ASIC miner Depending on your purpose, the disadvantages can vastly outweigh the advantages. Even an average-quality ASIC mining rig  can cost a few hundred dollars. A high-quality ASIC rig could cost over $3,000. In comparison, a USB ASIC miner costs less than $50 in most cases. There are some units like the 21 Bitcoin Computer that cost $150, which can technically be classified as a USB miner, but these are on the high end. 
What Are X11 Coins? Specialized Mining and the Blockchain Battlefield
X11 coins such as Dash, Checkcoin, and CannabisCoin have been proliferating alongside other competing cryptographic algorithms. As an alternative to more popular hashing algorithms, like Bitcoins SHA256 or Monero s CryptoNight , the X11 algorithm was developed by Evan Duffield to curb the impending threat of application-specific integrated circuits, better known as ASICs. In a nutshell, ASIC miners are seen as a threat to the mining ecosystem and are heavily criticized for centralizing the hashing power of blockchains. ASIC chips are particularly threatening to decentralization because they are resource-intensive and limit mass participation in mining. A typical single ASIC chip will exceed the next best performing GPU by double-digit multiples.
The State of Sharding: How Can This Technology Make Blockchain More Scalable? - CoinCentral
Sharding is a technology that is talked about often in the cryptocurrency community. While sharding has been an important part of traditional database technologies for many years now, it's finally being not only discussed but also implemented by a few projects as a solution for blockchain scalability. In this article, we'll discuss sharding's emergence to date, its current implementations, and how exactly its implementation could change the future of payment scalability. Sharding is a type of database partitioning that separates larger databases into smaller, faster, more easily managed parts called data shards. Oftentimes, it can be relatively easy to shard data. One simple example would be placing info related to various customers on different servers based on each user's geographic location. 
BitInstant Exchange: Lessons Learned from the Shut Down - CoinCentral
When Gareth Nelson and Charlie Shrem founded BitInstant in 2011, they hoped this exchange would become one of the top companies in cryptocurrency . However, regulators shut down the exchange in 2013. Even though BitInstant did receive a good bit of funding and experienced rapid growth, its demise was swift. Let's look at what led to the fall of BitInstant and try to think about what we can learn from this event. When we think of cryptocurrency exchanges in 2018, there are numerous options available on the market. Back in 2011, however, this was certainly not the case. The reality was that the market had very few options for crypto traders back then. Mt. Gox, one of the first-ever crypto exchanges, had only launched in 2010. Still, it didn't take too long for BitInstant to become a major player in the industry .
HitBTC Review: Is HitBTC Safe to Use? - CoinCentral
HitBTC consistency ranks as one of the top cryptocurrency exchanges on the market in terms of trading volume. Even though liquidity is an important factor, it isn't the only thing you should consider before using an exchange. In our HitBTC review , we examine all the details you need to know about this exchange. First up in our HitBTC review, we examine the user interface. Compared to most other exchanges, the price chart interface is quite similar. The biggest difference between HitBTC and other exchanges is the way in which funds are categorized on the account tab. This is because HitBTC gives each user two accounts (main account and trading account), which both have different functionalities.
Why the Big Four Accounting Firms Care About Blockchain
In the world of accounting audits and financial assurance, only the Big Four matter. Deloitte, EY, PwC, and KPMG are the masters of the universe. The Big Four accounting firms have a firm oligopoly over the provision of tax, accounting, consultancy, and audit services to almost all big companies across the globe. All publicly listed companies must open their books to external auditors to satisfy financial regulators. The blockchain is often touted as the biggest revolution in accounting since double-entry bookkeeping. Therefore, it stands to reason that blockchain will cause seismic changes for the Big Four, and the way they do business with their clients.
HashFlare Review | Cloud Mining Takes Another Reputation Hit
The popular cloud mining service HashFlare announced earlier this year that it had suspended services to its  Bitcoin contract customers. In a July statement via Facebook the company noted the ongoing issues with SHA-256 contracts: For over a month our users encountered a situation when the payouts were lower than the maintenance fees, resulting in zero accruals to the balance. As of 18.07.2018, the payouts were lower than maintenance for 28 consecutive days. SHA-256 is the mining algorithm used to validate transactions on the Bitcoin network, and HashFlare provides hardware solutions to cater for this. Naturally, many of these customers were upset by this suspension as growing suspicions of yet another crypto scam were forming. Cloud mining, in general, does not have a good reputation and plenty of scams have surfaced with the rise in popularity of cryptocurrency .
Kodak Bitcoin Mining Rig Kashminer Stopped by SEC - CoinCentral
The much-hyped Kodak Kashminer, a bitcoin mining rig showcased at CES 2018 and marketed by Spotlite, will not be available on the market due to a block imposed by the US Securities and Exchange Commission (SEC). Speaking to the BBC on July 16, 2018, Spotlite's CEO Halston Mikail revealed that the SEC had stopped the Kashminer rental service from commencing, and now, the company has apparently opted to use the equipment at its Iceland headquarters for private projects instead.  A spokesperson for Kodak who spoke with the BBC refuted allegations suggesting that that the Kashminer was in any way associated with the company.
Bitcoin Mining Hardware - Is it Worth Buying?
Mining cryptocurrency has become extremely popular over the last 5 years as Bitcoin has seen a considerable price hike.  This popularity has contributed to a flood of new mining rigs being developed at a record pace.  The ever-changing landscape of the mining sector can leave interested parties confused as to the future value of Bitcoin mining hardware and if purchasing this equipment is still a smart move. A quick search of mining forums and you can see that these concerns really became an issue in 2013 when CPU (Central Processing Unit) miners were superseded by GPU (Graphic Processing Units) mining rigs and then later eclipsed by ASIC (Application Specific Integrated Circuit) models.  Manufacturers are reaping huge bounties from these products. Hence, the continued development of more powerful mining equipment.
HashFlare Halts Bitcoin Mining Services
In an unusual turn of events, the popular cloud mining site  HashFlare suspended all Bitcoin mining operations on its platform. The news came via a Twitter post on July 24 where HashFlare developers explain that the company had suffered significant losses since the beginning of June 2018. The post goes on to explain that the related maintenance and electricity costs associated with Proof-of-Work mining SHA-256 contracts are no longer lucrative to the company. HashFlare contract holders received notification via email regarding the cancellation of their policies. Since the dissolution last month, new reports are emerging that question the validity of the cloud mining services HashFlare supplied consumers. In particular, users claim that their contracts were canceled without the remaining balances being refunded. In response, company officials stated that their contract includes a clause that allows HashFlare to undertake such a questionable maneuver, and that users agreed to these actions when they signed up for their services.
When to Buy Bitcoin: A Guide to Stacking Satoshis
Gaining a better understanding of when to buy Bitcoin can help you take your investment strategy to the next level. It has been an interesting year for Bitcoin and the entire cryptocurrency market. The crypto market shed the majority of its 2017 gains this year as market corrections kicked in. These losses left many investors with difficult decisions to make, such as when to sell Bitcoins, and should I buy Bitcoin now The important thing to remember is that there isn't one particular style of investing that fits everybody. When it comes to investing in Bitcoin , there are a couple of popular strategies to follow. In the end, you may find that a combination works best for you. This is normal and finding the right balance increases your return on investment (ROI) and reduces your stress levels in times of market corrections. Let's explore two popular Bitcoin trading strategies.
Putting Initiative Q on Trial | The Next Big Thing or Complete Scam?
What Is Initiative Q? By now, you've most likely seen what many people are touting to be the next big payment network. Or according to others, the next big scam. Whether you're deep in the cryptosphere or not, the following message has probably come across your Facebook newsfeed at one time or another: One of Many Initiative Q Referral Posts It's an enticing offer. Just sign up with your name and email address. In return, you get free Q, the new currency of the future. Navigate to the home page, and you'll see that the value of signing up now is estimated to be worth thousands of dollars once the network is live.
The Growing Use of Blockchain Law Enforcement Strategies
Blockchain technology poses unique threats to law enforcement organizations. This new technology allows anyone to transfer funds internationally, and in many cases anonymously. Criminals also recognize this ability and continue finding new ways to integrate these features into their illegal activities. While the news often sheds light on the nefarious actions of crypto users, it's also important to understand how this technology creates a unique opportunity for blockchain law enforcement strategies to develop.   In the early days of crypto, many people believed Bitcoin to be untraceable and anonymous. Crypto investors now know that this isn't the case. Today, multiple blockchain tracking platforms exist in the market. These platforms, such as Chainalysis, provide anyone with the means to research transactions on the blockchain.
How USI Tech Pulled off One of the Largest Crypto Scams
In this article, we look at USI Tech s cryptocurrency scam. While it's one thing to know that a project has committed fraud, it's even more important to truly understand the characteristics to prevent such an incident from happening to you. Here's how the company was able to pull this off. USI Tech ( United Software Intelligence Technology) is a company that claimed to develop the world's first automated trading platform for Bitcoin (BTC). Starting in May 2017, USI Tech started concentrating on selling BTC packages to traders and miners who wanted to automate these activities. At first, a lot of people bought into this plan. However, after some time, they began to increasingly suspect that USI Tech was really a Ponzi scheme. But how did the company pull it off in the first place
What We Learned from the CTR Coin Scam | CoinCentral
Centra ( CTR coin ) was one of 2018's biggest crypto scams. The ICO raised $32 million from investors, claiming big-name partnerships and boasting celebrity endorsements, before a spectacular fall from grace. Police arrested the founders, and exchanges promptly delisted the coin. Even the celebrities who endorsed CTR coin are now facing possible legal action. So what happened with Centra coin, and what can we learn that may help to avoid falling for such scams in the future Given that the website is now offline, it's a challenge to find out much information about CTR coin beyond news stories covering the scam. Centra coin claimed to be the solution to the spending problem of Bitcoin and other cryptocurrencies . The company would offer its users a debit or credit card that allowed them to spend their cryptos in the same way we spend fiat using a regular credit or debit card. Sounds good, right
OmiseGO price, charts, and market cap - CoinCentral
OmiseGO (OMG) is a white-label eWallet, smart contract platform, and payment solutions cryptocurrency . It was created by Omise, a venture-backed payment services company operating in Thailand, Japan, Singapore, and Indonesia. The Bitcoin world is abuzz with both excitement and curiosity and the opportunity for upside potential to skyrocket. Everyone from everyday Joes to reputable experts are betting on Bitcoin's success. Ever since the world was first introduced to Bitcoin 9-years prior, the cryptomarket has experienced astonishing growth. Along with this rapid expansion, the number of Bitcoin business opportunities has also grown.
Why a Bitcoin ATM Business May Be Perfect for You - CoinCentral
The Bitcoin ATM sector is heating up thanks to a combination of factors, including better technology, more functionality, and increased demand. Increased demand is the main reason why more investors are looking towards this automated business model as the smart entry point into the Bitcoin business sector. Bitcoin ATMs are springing up in new locations at an increasing rate. These standalone crypto hubs allow users to enter the crypto market without the need for technical knowledge. In essence, a Bitcoin ATM user doesn't need to know anything about the crypto market. Bitcoin ATMs are considered by many as the missing link between the crypto market and everyday consumers. These machines are easy to use, and they provide crypto investors with a reliable alternative to fiat-to-crypto exchanges, such as Coinbase . Let's take a moment to examine the advantages and disadvantages of this budding crypto business sector.

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