Nvidia and AMD are in a war. The two companies both produce graphics cards and compete over PC gamers, self-driving car manufacturers and data center managers to prove that their technology is superior. Nvidia tends to be ahead in many of those markets and has seen its stock rise more this year because of it. A new market is emerging though. The two graphics processing unit (GPU) companies are currently fighting over the cryptocurrency GPU market,…"A Wall Street bank is betting Nvidia will win the cryptocurrency battle (NVDA, AMD)"
Victims of the ongoing Petya cyberattack have paid £7,064 ($ 9,000) in Bitcoin to hackers so far to try and get their files back — but they won’t have much luck. The cyberattack broke out on Tuesday, impacting the Ukrainian government and banks, then spreading to a Russian oil company, advertising firm WPP, and other companies around the world. The attack takes the form of ransomware, malicious software that encrypts a user’s files, then demands a…"Victims of the global cyberattack have paid $9,000 so far but can’t get their files back"
Cryptocurrencies led by bitcoin and ether were falling across the board on Monday as a massive run-up this spring has spurred some profit taking. The most prominent drop came in ether, the digital currency used on the Ethereum network that is still reeling from trading problems last week. Ether fell 24% Monday to $ 231, and has now lost 41% of its value from its peak June 14, according to data from Coindesk. Meanwhile, bitcoin…"Ethereum Drops 24%, Bitcoin Loses, Too, Amid Cryptocurrency Selloff"
It’s a rough start to the week for bitcoin. The cryptocurrency trades down 10.11% on Monday, at $ 2,275 a coin, a one-week low. The action seems to be a continuation of the selling that developed on Wednesday, when rival Ethereum flash-crashed from $ 296 to 10 cents before recovering its losses. Bitcoin is down about 16.6% since Wednesday’s opening print. The recent weakness in bitcoin follows a run-up of more than 200% to start…"Bitcoin is tumbling"
Bitcoin has been soaring to new heights, and now folks on Change.org are calling on e-commerce juggernaut Amazon to accept the cryptocurrency as payment “ASAP.” Since March 23, bitcoin has increased 159%, from a little over $ 1,000 to $ 2,700. At least 2,100 petitioners on Change.org want Amazon to join companies such as Microsoft and Overstock in accepting bitcoin as a form of payment. They also want the company to accept Litecoin, another cryptocurrency. The petition cites the following reasons…"A petition on Change.org is calling on Amazon to accept bitcoin ‘ASAP’ (AMZN)"
LONDON — Bitcoin and blockchain technology company Blockchain has raised $ 40 million (£31.5 million) in its second round of institutional funding. European venture capital fund Lakestar and GV, Google’s venture capital arm, both led the round. Nokota Management and Digital Currency Group also took part in the investment, as did Blockchain’s existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson. The Series B funding takes the total raised by Blockchain to…"Blockchain raises $40 million from Lakestar and Google’s venture arm"
Microsoft is teaming up with Accenture to build a digital ID network using blockchain technology, as part of a United Nations-supported project to provide legal identification to 1.1 billion people worldwide with no official documents. The companies unveiled a prototype of the network on Monday at the UN headquarters in New York during the second summit of ID2020, a public-private consortium promoting the UN 2030 Sustainable Development Goal of providing legal identity for everyone on…"Microsoft is working on providing digital IDs to over 1 billion undocumented people around the world (MSFT)"
Bitcoin may have appreciated 300% in the last 12 months, but Morgan Stanley still isn’t convinced the cryptocurrency will be a viable currency in the long run. In new research published this week, analysts at the bank say that bitcoin (and its counterparts like ethereum) are still more like investment vehicles than fiat currency that you could spend on goods and services. In addition, it said there are few reasons to use bitcoin instead of a debit…"MORGAN STANLEY: Bitcoin isn’t a currency"
A little-known Chinese company is threatening to put a fork in the high-flying bitcoin rally — a “hard fork,” to be precise. The controversial cryto-currency, long favored by tech geeks and drug lords alike, has taken a painful price hit this week, burning a recent wave of Wall Street investors and average Joes who have… bitcoins | New York Post"A little-known Chinese firm threatens to derail bitcoin rally"
Bitcoin has come all the way back from Thursday’s steep slide. The cryptocurrency tumbled as much as 18.5% to $ 2,076 a coin after riskier assets fell following the Fed rate hike. On Friday, it’s trading up 3.5% at $ 2,520. The selling on Thursday began when bitcoin-mining firm Bitmain outlined its “contingency plan.” Coindesk explained it best: “Most notably, the proposal would dedicate mining resources to hard forking the network to a rule set…"Bitcoin storms back"