After a hack, South Korean bitcoin exchange Youbit declare bankruptcy

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declaration from the business did not state whether the theft specifically involved bitcoin or included other cryptocurrencies. The previous hack, in April this year, saw around 4,000 bitcoins stolen.The business, officially understood as Yafi Co. Ltd., said it had immediately handicapped trading and the ability of customers to withdraw funds to lessen additional loses, with cryptocurrency properties held by clients to be marked down to 75 percent of their value once the business establishes a way for customers to withdraw funds in accordance with insolvency procedures.Local police are only now beginning their examination into the new hack, but the previous one was associated to North Korea, according to Reuters.A report in September stated the rogue state was discovered to have actually been deliberately targeting bitcoin exchanges in South Korea– albeit rather improperly, having just handled to take 100 million won($88,100 )in bitcoin from 2013 to 2015 as part of an effort to increase the nation’s hard cash. North Korea’s interest in bitcoin also reaches mining, with a report in July claiming that the nation had actually begun”state-sponsored bitcoin mining operations”on Might 17. The hack of Youbit may not be North Korea’s only successful major bitcoin break-in this year. The nation …

Media Embraces FUD as Bitcoin.com CTO ‘Sells’ All His Bitcoin

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Bitcoin.com CTO Emil Oldenburg has actually declared he has sold “all” his “unusable” Bitcoin (BTC) for Bitcoin Cash (BCH), likewise referred to as BCash. Oldenburg Promotes BCash To Mainstream In an interview with Swedish magazine Breakit considering that reproduced in several outlets, Oldenburg called Bitcoin “the most dangerous financial investment you can make.” “It is an incredibly high risk. I’ve actually sold all my bitcoins recently and switched to bitcoin money,” he informed the publication last week. “… The old Bitcoin network is essentially unusable.” In making the admission about holdings, Oldenburg goes further than his outspoken employer, Bitcoin.com owner and major Bitcoin Money proponent Roger Ver. While not stating specifically he has abandoned his BTC holdings in favor of BCash, Ver has actually berated the ‘initial’ Bitcoin both on social networks and in more official settings. Speaking with Bloomberg earlier this month, he stated he had “offered most of his Bitcoin for Bitcoin Cash.” “If you take a look at businesses worldwide, they’re scrambling to embrace Bitcoin Money … I’m actually interested in a markets right now.” Bitcoin Core & & … Find out more– > click here all content is copyright Bitcoinist.Need Bitcoin marketing and PR? Bitcoin PR …

Legendary Financier Bill Miller Now Holds Half His Hedge Fund in Bitcoin

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With the launch of bitcoin futures by two leading American choices exchanges, lending the cryptocurrency more trustworthiness among mainstream financiers, Wall Street is relying on known figures to describe the phenomena. One tested financial wizard they may listen to is legendary value investor Expense Miller whose hedge fund is now holding 50% of its properties in bitcoin.Bitcoin-Heavy Hedge Fund Bill Miller, chairman of Miller Worth Partners LLC, has revealed in a current interview that bitcoin holdings consist of around 50 %of the assets in his MVP 1 hedge fund. He is a former chairman of Legg Mason Value Trust shared fund and bought his location in the history books by beating the S&P 500 Index consecutively for fifteen years. Miller discussed that he started by holding a much smaller quantity in bitcoin however the investment quickly mushroomed in addition to bitcoin’s value and came to dominate half his portfolio.Describing how a value financier like himself can take advantage of riskier assets, Miller pointed to the unfavorable responses people had towards Amazon and Google when they initially got in the market. He believes that bitcoin’s vocal detractors on Wall Street like JP Morgan’s Jamie Dimon show” old thinking”when it pertains to …

Overstock.com launches preliminary coin offering for blockchain trading platform

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Riding a 2014 prior to becoming the first to issue bonds on the very same platform in 2015. A year later on, Overstock.com made strategies to open its blockchain platform to the public.The ICO is arranged to go through to Jan. 18, however provided the preliminary interest, it will likely close well prior to then.Photo: Overstock Coliseum/Wikimedia Commons

FinTech Stock LongFin Rises 2,600% Following Blockchain Company Acquisition

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The post FinTech Stock LongFin Surges 2,600% Following Blockchain Company Acquisition appeared first on CCN The cryptocurrency world’s recent heights, with Bitcoin surpassing $19,600 per coin, and Ethereum reaching a new all-time high above $850, are seemingly heavily influencing the way traditional investors look at some stocks. Fintech firm LongFin (Ticker: LFIN) recently saw its value surge as much as 2,600%, following a press release. The press release revealed that The post FinTech Stock LongFin Surges 2,600% Following Blockchain Company Acquisition appeared first on CCN Read more –> click here all content is copyright CryptoCoinsNews. Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE. Powered by ABITCO.IN Read More

The Pantera Bitcoin Fund’s return: 25,004 per cent

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by Nathaniel Popper There are hedge funds with blockbuster returns. There is the Pantera Bitcoin Fund.The fund, one of the first in the world to commit itself to virtual currencies, released its returns in a letter sent to investors on Tuesday. The figure for the life of the fund, which was set up in 2013, is eye popping: 25,004 percent.A substantial portion of the gains have come this year, thanks to the sky rocketing rate of an individual bitcoin, which hit$19,000 on Monday.(The fund’s 25,004 percent figure was in fact counted back when bitcoin was at$15,500, a week back.)For comparison, the top performing hedge fund in the world in 2015 returned 148 percent, inning accordance with Preqin, a hedge fund tracker. Given that 2013, the Pantera Bitcoin Fund’s substance yearly returns have been around 250 percent.The Pantera Bitcoin Fund did not need to do much to obtain those returns. It just purchased bitcoins and held them as the rate went up. Its efficiency is a suggestion of the extraordinary gains that bitcoin has experienced, with some experts arguing that bitcoin’s moves have been even greater than the motions of Dutch tulip bulb prices back in the 1600s. Dan Morehead, who …