FTC Nukes Facebook with Record $5B Fine, and Zuck Will Laugh It Off

FTC Nukes Facebook with Record $5B Fine, and Zuck Will Laugh It Off 1  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

The Federal Trade Commission has whacked Facebook with a record $5 billion fine stemming from the 2018 scandal in which a political consulting firm improperly accessed Facebook user data. The fine comes as a result of settlement talks between the two entities. The consulting firm, Cambridge Analytica, scraped data from 87 million Facebook profiles without the consent of their users to be used for political advertising. This led to Mark Zuckerberg testifying before Congress regarding Facebook’s privacy policies. The fine is more than 200 times greater than the previous largest…

This Is Your Last Chance to Buy the Dip Before Bitcoin Pierces $20,000

This Is Your Last Chance to Buy the Dip Before Bitcoin Pierces $20,000 2  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

In early May, we accurately predicted that bitcoin would trade above $11,500 before the end of 2019. The leading cryptocurrency breached that level last month, recording a fresh yearly high above $13,000. Since then, BTC has been correcting and is back trading near $10,000. While many see the retracement as the end of bitcoin’s parabolic rise, our analysis shows that the number one cryptocurrency is simply consolidating gains as those who caught the bottom take profits. However, once this round of selling is over, we are confident that bitcoin will…

Blockchain Protocol Polkadot Sells 500,000 of Its Tokens, Price Still Unspecified

Blockchain Protocol Polkadot Sells 500,000 of Its Tokens, Price Still Unspecified 3  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Blockchain interoperability protocol Polkadot has distributed 500,000 DOT tokens at a price that is unknown, but purportedly in keeping with the firm’s $1.2 billion valuation, technology-focused news outlet The Block reported on June 27. Polkadot’s managing partner Web3 Foundation (W3F) reportedly told The Block that the protocol distributed 500,000 of its tokens, although the company did not reveal the exact amount of funds raised. The Block notes, that during the recent round Polkadot purportedly sold 5% of the total token supply, which should theoretically bring $60 million to the protocol’s…

Electronics Giant Samsung Prioritizes Blockchain in 10-Year Roadmap

Electronics Giant Samsung Prioritizes Blockchain in 10-Year Roadmap 4  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN Markets: Samsung Electronics vice chairman Jay Y. Lee has revealed a marked focus in future technologies – part of its 10-year strategy – with a focus on blockchain, artificial intelligence (AI), and 6G. Lee, who is often seen as the face of the Samsung, held meetings last week with some of the company’s executives about the potential collaboration with emerging technology platforms. The technology giant is willing to invest and work with companies building up these nascent technologies. Samsung has already made significant strides into the blockchain ecosystem…

Blockchain Experts Slam Facebook’s Crypto Libra

Blockchain Experts Slam Facebook’s Crypto Libra 5  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Published: 19/06/2019 08:33 EST. Journalist: By CCN Markets: A lot has already been said about Facebook’s Libra cryptocurrency and its ambition to disrupt the finance world. But what about the blockchain technology that powers it? Blockchain experts have poured over the technical documents and played with the Libra protocol testnet. Suffice to say, they’re not convinced about Libra’s claims. Facebook launched the Libra protocol blockchain testnet on Tuesday, but experts aren’t convinced. Source: Libra “A disaster in slow motion” Bitcoin developer Tamas Blummer offered the most damning assessment of the…

Bitcoin Leaves Other Asset Classes in Dust as Market Stars Align

Bitcoin Leaves Other Asset Classes in Dust as Market Stars Align 6  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Published: 17/06/2019 16:40 EST. Journalist: By CCN Markets: Investors who are not generating returns in 2019 are clearly looking in the wrong place. Considering bitcoin claimed a fresh 2019 high to nearly $9,400 over the weekend, other asset classes have a hard act to follow. Gains across the stock market and commodities including oil and precious metals such as gold pale in comparison to bitcoin’s, and investors must be kicking themselves for not recognizing the opportunity in crypto. There’s no shortage of explanations as to what is fueling bitcoin’s rise,…

Wasted Naysayers Continue to Flog Wasteful Energy-Consuming Bitcoin

Wasted Naysayers Continue to Flog Wasteful Energy-Consuming Bitcoin 7  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN Markets: Here we go again. Yet another article has surfaced taking potshots at the perceived threat of Bitcoin’s energy consumption. A recent article out of MIT Technology Review claims that: Mining Bitcoin is a hugely wasteful process. For miners to accrue more of the cryptocurrency, powerful computing hardware must solve increasingly difficult, and pointless, puzzles. The article cites an in-depth study conducted by researchers at MIT and the Technical University of Munich. A slightly different approach compared the hardware and efficiency use from the IPO filings of the…

World’s Biggest Banks Splash $63 million on a Blockchain Digital Currency

World's Biggest Banks Splash $63 million on a Blockchain Digital Currency 8  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

 By CCN: Some of the world’s biggest banks are partnering with London-based Fnality International to create a blockchain digital currency for faster cross-border transfers. These banks from Japan, Europe, and the United States are hoping that issuing a utility settlement coin (USC) will lower transaction costs of cross-border payments by cutting out intermediaries. Fnality International has received $63.1 million in capital from the 14 participating banks. These banks include Barclays of Europe and the United States’ State Street; Japan’s MUFG Bank and Sumitomo Mitsui Banking Corp as well as UBS…

Ransomware Crooks Cashed Out $16 Million from Defunct Bitcoin Exchange

Ransomware Crooks Cashed Out $16 Million from Defunct Bitcoin Exchange 9  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

By CCN.com: In the two years leading up to 2018, a spate of ransomware attacks were analyzed in a report by a team of researchers hailing mostly from leading U.S. universities and Google. Results showed a conservative estimate of total funds stolen to be $16 million, with bitcoin providing a way for malicious actors to take payment from anywhere in the world. The first quarter of 2019 has perhaps seen these types of attacks become more frequent and severe. Citing cases involving Ryuk, a notorious family of ransomware, the amounts…

Joseph Stiglitz Thinks We Should Ban Cryptocurrencies

Joseph Stiglitz Thinks We Should Ban Cryptocurrencies 10  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Most people know who Joesph Stiglitz is. Some know him as the 2001 recipient of the Nobel Memorial Prize in Economic Sciences; others know him as a vocal cryptocurrency bear. This week, Stiglitz is getting a lot of attention for the latter. In a May 6 interview with CNBC, Stiglitz said we should shut down cryptocurrencies. Here’s everything we know. Joseph Stiglitz on Cryptocurrencies: The Latest This week, of course, is not the first time Joseph Stiglitz, 76, has discussed cryptocurrencies in a negative manner. Back in November 2017, Stiglitz…