Tuesday, June 12, 2018

Blockchain and Cryptocurrency News

I’ve received 10 blockchain and cryptocurrency announcements in just the past week. To save you time, I’ve summarized them here. I’m guessing the PR firms sending the announcements might quibble with my summaries.

  1. A market for investments you should never own now plans to use blockchain to track share ownership.
  2. You can buy a service that mines cryptocurrencies for you. Try to guess whether they price the service above or below the value of the mined coins.
  3. Another cryptocurrency exchange is opening. Hopefully, it won’t get hacked like the others.
  4. Another cryptocurrency is available.
  5. Cryptocurrencies are getting hacked.
  6. There’s another cryptocurrency app.
  7. And another app.
  8. Cryptocurrency “experts” are eager to get their messages published.
  9. Bitcoin could go to $30,000 soon. Of course, it probably won’t.
  10. “Experts” predict huge increases in cryptocurrency values. Of course, they might go down instead.
Posted by at 7:00 AM
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4 comments:

  1. Alan Whitton (Big Cajun Man)June 12, 2018 at 9:45 AM

    Hi I'm Troy McClure, you may remember me from such Bitcoin commentaries as, "Holy Crap I am Rich Thanks to Bitcoin" and "Blockchain what's with that name?".

    That is about the ONLY email I have not received on this topic lately.

    ReplyDelete
  2. aBJune 12, 2018 at 10:29 AM

    5. Cryptocurrencies are getting hacked.

    Is this possible? (The actual cryptocurrency, not the container holding them). I was under the impression, that the block chain would be able to prevent this. Losing control of the wallet or the exchange getting hacked, sure.

    I understand (or at least think I do) that forks (like BitCoinCash) were considered 'attacks' but not hacked per se.

    [I'm not doubting you, I just have not heard this.]

    ReplyDelete
    Replies
    1. Michael JamesJune 13, 2018 at 5:41 PM

      @aB: The announcement that I summarized as "Cryptocurrencies are getting hacked" was too vague for me to tell what they meant, but I'm guessing you're right and that they're referring to containers getting hacked. It would certainly be big news if the hash functions underlying various cryptocurrencies were broken. However, if someone does break a hash function, they'd seriously consider keeping the information to themselves and profit from it as inconspicuously as possible.

      Delete
    2. aBJune 14, 2018 at 11:17 AM

      Yes it would be big news, so had a double take when I saw it.
      Thanks for the clarification.

      Delete

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