Infinity Economics XIN

$0.0036
Market Cap $ 32.767 MM (#148)
24h Volume $ 47.667 MM
Chg. 24h: -1.63%
Algo. score 2.7/5  (#739)
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Infinity Economics News

Chinese Man Faces Prison For Stealing Railway Electricity to Mine Bitcoin

A Chinese resident from Shanxi province named Xin Xinghua has been sentenced to 3.5 years in prison for stealing electricity from a train station to mine Bitcoins. Additionally, he has also been fined a sum of 100,000 Yuan (approx. $14,500) for his crimes. His crime was discovered in November 2017, when Xin stole electricity to power 50 Bitcoin miners and 3 fans from one of the factories at Kouquan Railway Station. He was only able to mine 3.2 BTC, and the Chinese authorities have seized the mining equipment. (VS)

9 days ago

Blockchain Life 2018: Major Asian Crypto Funds, Kraken, Okex and Huobi in Attendance

Blockchain life 2018 is set to happen in St Petersburg, Russia on November 7th-8th. The event will see Kraken, Okex, Huobi and Asian crypto funds attend. Several speakers will be in attendance including; Wu Xing (Huobi Exchange), Maximilian Marenbach (Kraken Exchange), Aldrich Victorino (Okex Exchange), and Jason Hu (World Blockchain Organization). Participants will learn firsthand on blockchain tech and crypto trends while the Eastern European ICO projects will be pitched to attract funding in the pitch session, this will save them expensive shows. The international blockchain Life Award applications were opened on 1st Sep to determine the best companies in blockchain and crypto industry. (KE)

a month ago

Infrastructure Finance Company XinFin (XDCE) Holds Meetup in Zimbabwe

XinFin, a hybrid blockchain company, is holding its meetup in Zimbabwe’s capital Harare. The company seeks to promote the adoption of its XinFin (XDCE) token. The firm has already conducted similar meetups in Europe, the US, and Asia. The company’s TradeFinex platform allows for peer-to-peer funding for infrastructure investments. The company believes the African continent has a huge potential to grow in terms of infrastructure development. At the moment, the sector is valued at over $24 trillion. The TradeFinex platform will allow countries to borrow from each other more easily. (VK)

2 months ago

Blockchain-Based Ride-Hailing App Launched

The founder of Kuaidi Dache, Andy Chen Weixing, has announced the creation of a ride-hailing app. VV Go, a blockchain-based app aims at improving passenger safety in addition to increasing the drivers’ earnings. The ride-hailing company was pushed out of the market in 2015 following negative publicity after two passengers were killed in separate incidents. The firm then merged with its competitor Didi Chuxing. The new app will allow drivers and riders to share information within the network. The blockchain app also allows users to make distress calls. (SK)

2 months ago

Daily Berminal Brief (8/31/18): Bitcoin and Other Cryptocurrencies on the Edge as CBOE Bitcoin Futures Expire Today at 11am EST

1) Yahoo Finance, yesterday, reported its partnership with Tradelt to add a new feature on its platform that allows cryptocurrency trading. The feature added on its iOS mobile app is said to support four assets in its in-app trading. The assets supported were Bitcoin, Ethereum, litecoin, and Dogecoin. This service would also be available on Yahoo Finance desktop version. Additionally, Yahoo finance announced it would soon take the services to be functional in desktop, Android, and mobile web though it has not mentioned the platform where the iOS app will conduct the crypto trading. (Read More.) 2) Vitalik Buterin, the creator of Ethereum showed up at a closed-door Bitcoin Cash meeting in Bangkok and was denied entry. It is not clear why Vitalik tried going to the meeting. According to Jihan Wu, the CEO of Bitmain, he was invited to come and have a brief chat. In that case, it is not clear why he was denied entry. Vitalik is yet to tweet on this incident. Craig Wright, whom both Vitalik and Jihan has spoken again in past, was also present at the meeting. (Read More.) 3) As Bitmain is planning its massive $15 Billion IPO in the Hong Kong Stock Exchange, key engineer Yang Zuo Xing is leaving the company. Yang was instrumental in the development of popular ASIC miners, S7 and S9. At least three Bitmain teams have left the company in recent weeks, and one of them is in the market, seeking investment to rival Bitmain. Yang is now the Chairman of Shenzhen Bit Microelectronics Technology, which is currently developing WhatsMiner M10V1 with a whopping hashrate of 33 TH/s. (Read More.)

2 months ago

Key Bitmain Engineer Leaves Before IPO

As Bitmain is planning its massive $15 Billion IPO in the Hong Kong Stock Exchange, key engineer Yang Zuo Xing is leaving the company. Yang was instrumental in the development of popular ASIC miners, S7 and S9. At least three Bitmain teams have left the company in recent weeks, and one of them is in the market, seeking investment to rival Bitmain. Yang is now the Chairman of Shenzhen Bit Microelectronics Technology, which is currently developing WhatsMiner M10V1 with a whopping hashrate of 33 TH/s. (VS)

2 months ago

IOST Co-Founder and CEO Jimmy Zhong: Decentralization Only Works for Goods/Services That are as Standard as Possible.

Jimmy Zhong, CEO and Co-Founder of IOST took to Twitter on Aug. 26, commenting on a Bloomberg report about DiDi Chu Xing's Hitch service, where a second girl has been killed recently and caused a serial removal of high executives in the company. Jimmy believed that "Offline/non-standardized services are likely to be centralized (or P2P with censorship like Uber/Airbnb) because that’s the way to provide better experiences. Decentralization only works for goods/services that are as standard as possible." As of this writing, IOST is trading at $0.015, up 0.88% in the last 24 hours. (RL)

2 months ago

Ziliqa CEO on Bitcoin and Scalability

In an interview with CCN, Ziliqa CEO said that the meteoric rise of the ZIL coin occurred when BTC was in the $8,000 range. The CEO, Mr. Xinshu Dong, said that the coin has been performing well, especially in the bear market. He said that Ziliqa provides scalability that Bitcoin does not have while keeping the fees low. At 0020 hrs UTC, Ziliqa was trading at $0.040307, a rise of $4.46% in the past 24 hours. (KE)

2 months ago

Bitcoin Core V0.17.0 Release Candidates to be Released Soon

On August 21st, Bitcoin Optech in an official blog post announced the release of Bitcoin Core 0.17 that the developers at Bitcoin are working on it. Bitcoin developers are asking individuals to help in testing Release candidates using Bitcoin Core 0.17 to test for bugs which need fixing. The Release candidates are expected to be released soon. (KE)

2 months ago

Chinese Government May Carry Out a Blanket Crack Down on Crypto Public Accounts

Multiple Chinese well-known crypto public accounts were blocked by China's social media giant WeChat last night, on the premise of violation of the service's "Interim Provisions on the Development of Public Information Services for Instant Messaging Tools" terms, including notable Deepchain, Huobi News, Node Capital-backed Jinse, and CoinDaily. According to Caixin, the Chinese government may step up more efforts to regulate these public accounts. And it is reported that these public accounts will be permanently blocked. Those who open other accounts to continue their promotion will be under high scrutiny. (RL)

2 months ago

Blockchain Life 2018 to be Hosted in St. Petersburg on Nov. 7-8

Blockchain Life 2018 will be hosted in St. Petersburg on November 7th and 8th. The international forum which will be held for the second time and will see over 5000 participants coming together from over 70 countries. Eighty speakers have been scheduled to talk about blockchain, mining, and cryptocurrency. The lead speakers will be among others Huobi's Wu Xing, Phillip Nun, and Stefano Virgilli. (VK)

2 months ago

Crypto Market Update: The Most Recent Developments in BTC, XRP, NEO, ETH, TRX, and ICON

Cointree and Gobbill partnership will allow Australians to pay bills using Ethereum, Bitcoin and a variety of cryptocurrencies. After Quihoo discovering a bug in NEP's system, the development team of NEO took 56 mins in fixing the bug. Tian Han, the head of engineering of Tron, compared TRX's new blockchain platform to that of Ethereum and NEO, in an interview with CryptoBeadles. Further, ICON has been chosen to explore a voting and counting system based on the blockchain in South Korea. In their most recent report, The Ripple Drop, Cory Johnson talks about the new development of xRapid and RippleNet and its second-quarter report. (VK)

2 months ago

Swindlers in China Stole $87 Million Worth of Bitcoins and Altcoins, Criminals Identified

According to Xinhua, a Chinese news portal, three suspects were mentioned guilty following a hack that saw the culprits loose $87 million worth of Bitcoins and other altcoins. Zhang raised the alarm by reporting the case to the Xi'an police headquarters in March to report the hacking operation on his computer that saw him lose almost $14.5 million (Cryptocurrencies). After a probe that took a month, three suspects were arrested on August 15th in Beijing capital, Changchun province and Hunan. The investigation was undertaken by the police together with an anonymous website. A suspect who allegedly hacked Zhang's computer by the name of Zhou has since been identified together with his other two accomplices. The investigations are however underway. (VK)

2 months ago

Chinese Police Captures Suspects after $120m Digital Currency Theft

According to Chinese sate Media Xinhua News, three suspects claimed to have stolen resources worth 600 million yuan (S$120 million) through hacking have been captured by police. The suspects have stolen bitcoins as well as alternative cryptocurrencies, according to the state media. The exchange of the units gave police a virtual trail, driving them to a suspect named Zhou in the focal region of Hunan, and which further prompted more claimed assistants through Zhou's correspondences. The case is now still under scrutiny. (RL)

2 months ago

A Twitter Scammer for ETH Giveaway Scams Explains How it's Done

Scams have recently been seen perpetrated on social media accounts. Vitalik Buterin and other crypto celebrities have seen the scammers take up their account names and use them to lure people into sending them cryptocurrencies. It has become so severe that Vitalik recently called for Jack Dorsey, Twitter CEO asking him to work into fixing the problem. While Guerbuez was talking to the scammer, he (scammer) said these bots are run by a team which seeks help from automated processes. Additionally, he said the $1000 fee charged for accounts do not bother them as scammed individuals would not hesitate to send ETH to any account they make (KE)

2 months ago

Venezuela to Use “Petro" Cryptocurrency as an Official Accounting Unit

The state oil and gas company Petróleos de Venezuela (PDVSA) will reportedly begin using thepetro as a mandatory accounting unit. The moves come as Venezuela's government seeks to combat growing economic turmoil by relaxing its currency controls, according to an August 7 report from CNBC. And the country's salary and pension systems will also be tied to the petro's value. Putro has been highly controversial since its debut, drawing attacks from opposition politicians in Venezuela in the U.S and abroad. (RL)

2 months ago

The First Projects of Zilliqa's Grant Program Announced

Zilliqa has announced that as part of its Ecosystem Grant program the first class of the 12 developers has already been appointed. This program will allow high throughput and enterprise security together with the application of smart consumer contract. The CEO of Zilliqa, Xinshu Dong showed his excitement for successfully choosing their first group of developers that will oversee the successful completion of the Ecosystem grant Program together with building Zilliqa infrastructure. The 12 selected developers were awarded ecosystems' grant first class and will work with the company to make sure new Zilliqa applications development and the company's infrastructure. (VK)

2 months ago

Blockchain Life 2018 to be Hosted in St Petersburg

Blockchain life 2018 will be an international forum which will be hosted in St Petersburg on 7th November through to 8th November. It will see more than 5000 people attend from 70 countries worldwide. The forum brings together the crypto investors around the world and also brings forth professionals in the cryptocurrency industry. The conference mainly will talk about the blockchain technology and how people could earn cash from cryptocurrency. Among the attendees of the forum will be ICO project owners, developers, blockchain experts. Among the people in attendance will be business leaders and innovators among others Wu Xing, Stefano Virgilli, Khachatur Ghukasyan. (KE)

2 months ago

FCoin’s Strategic Upgrade, IOST Listed on FCoin

According to FCoin’s announcement on its website, FOne will officially open exclusive trading zone for following Certified Organizations today: Bixin Capital+LD Capital+ Bitrise Capital Joint Zone, Nirvana Capital, BlockVC, Node Capital, Bixin Capital, Bitrise Capital. FCoin’s positioning is officially upgraded to trading platform technical support + comprehensive community-based governance structure. FCoin will open trading of some tokens today, including IOST. At press time, IOST is trading at $0.020789, up 1.38% within 24 hours.

2 months ago

China: University IT Research Institute Partners to Form Blockchain Research Center

According to several August 1st press releases, The Research Institute of Information Technology (RIIT) of Tsinghua University (THU) has signed an agreement with Sheng Ying Xin Management Consulting Co., Ltd. to research and develop blockchain technologies as well as basic models for building enterprise-level applications for various industries. These applications will address a variety of challenges that Chinese companies currently face, along with adding a new level of transparency and traceability in sectors like supply chains, logistics, and the pharmaceutical field. (JF)

3 months ago

Former Alibaba Team Raises $20 Million From Institutional Investors

Ultrain a blockchain project founded by former head of Alibaba's blockchain team has raised $20 Million from institutional investors such as Draper Dragon, FBG Capital, DanHua VC and Arrington XRP Capital. Other investors include crypto wallet Bixin, crypto exchange OKCoin, and traditional VC funds Morningside Capital and Ceyuan Capital. Ultrain is looking to build a public blockchain platform to build scalable decentralized applications. A test version of the platform was launched early this year, with 1,000 nodes hosted on Amazon cloud servers with a speed of 3,000 transactions per second. (VS)

3 months ago

Xinfin (XDCE) To Launch New Platform

Xinfin Fintech, an emerging hybrid blockchain technology network based out of Singapore, has announced the release of a new platform called TurantPay. The TurantPay platform uses Xinfin’s XDC protocol, which is an improved version of the SWIFT protocol that banks currently use to process bank transfers. The platform processes payments between financial institutions and payment service providers while lower processing fees and maintaining complete visibility throughout the life cycle of the payment. Current XDCE price is $0.003157. (JF)

3 months ago

Daily Berminal Brief (7/25/18): Augur (REP) Destroys Access to Application ‘Kill Switch’

The Market: Today has been a day of relative calm for the top ten coins by market capitalization. The biggest gainer today hands-down has been IOSToken (IOST), which posted a staggering 27% increase on the day. 1) In an official tweet, the Augur (REP) team recently announced that they have destroyed their access to the fail-safe ‘kill switch.’ The kill switch mechanism was originally implemented within the dApp’s smart contract to aid developers in fixing issues if unanticipated problems arose. 2) The blockchain platform Qtum (QTUM) has launched a decentralized application (dApp) development platform on the incredibly prolific and popular Amazon Web Services (AWS). This new dApp will allow AWS users and developers to design and launch smart contracts using an Amazon Machine Image. 3) Coinbase, the leading U.S. crypto-fiat exchange, has been on a mission to expand its portfolio of cryptocurrency-related products. As part of their initiative to facilitate widespread adoption, Coinbase announced today that customers in Australia and EU will now able to use their cryptocurrency balances on e-gift cards instantly. (EG)

3 months ago

No Escape: Augur (REP) Burns Key to Network ‘Killswitch’

In an official tweet, the Augur (REP) team recently announced that they have destroyed their access to the fail-safe kill switch. The 'kill switch' mechanism was originally implemented in within their smart contracts to aid developers in fixing issues if unanticipated problems arose. In other words, it was employed to disallow any critical bugs from destabilizing the platform. However, by destroying the switch, the Augur team effectively no longer has any privileged access over the network. Furthermore, many in the crypto community believe that a kill switch is antithetical to the spirit of decentralization and destroying it makes 'code king.' (EG)

3 months ago

China: Xinjiang Region To Halt Illicit Crypto Mining by the End of August

A leaked notice by the Economic and Information Technology Commission reveals that a Northwest territory in China, Xinjiang is planning to halt illegal mining of cryptocurrencies. The notice reportedly, wants Xinjiang companies to identify and report the illicit use of electricity before 30th August 2018. The halting of Bitcoin mining is not a surprise since at the beginning of 2018 China banned ICO's and crypto trading. However, no official reports from the government regarding the crypto mining ban are available. (KE)

3 months ago

Chinese Region to Halt Crypto Mining Operations after Government Directive

A small Chinese province has been forced to shut down crypto mining facilities after the government issued a crackdown order. A local news outlet, Jinse, reported that the Xinjiang Uyghur region is rife with illegal mining operations which take advantage of the cool mountain air. The area has excellent electricity rates and good climate, and lots of bitcoin miners who have no licenses. The government has ordered that all illegal mining be halted before August 2018. (KE)

3 months ago

China's Autonomous Region Is Set To Shut Down Miners By September

A government agency from China's Xinjiang Uyghur autonomous region has confirmed that it is set to shut down on "illegal" mining operations before September. Over the weekend, Xinjiang's Economic and Information Commission (EIC) issued a notice to local utility companies to report and shut down Bitcoin mining operations. Additionally, these utility companies will be held accountable if they failed to shut down unregistered mining operations. The crackdown on Cryptocurrencies in China has affected the Bitcoin community because a significant portion of mining was done in China for cheap access to hardware and electricity. (VS)

3 months ago

POINTS Raises $8 Million to Build Credit Scoring Protocol on the Ontology Platform

POINTS, a startup that is building a credit scoring protocol on top of the Ontology blockchain, has raised $8 million in seed funding. The funding came from a mix of traditional venture capitalists including Danhua Capital and Ceyuan Ventures, a backer of OKCoin, along with the Ontology Foundation as well as Zhong Cheng Xin Credit Technology, China's first nationwide credit rating agency. The funds will be used to expand the company's engineering team in an effort to speed up its development of blockchain-based know-your-customer (KYC) and credit scoring applications. (JF)

3 months ago

Sichuan Flooding Aftermath: Hidden World of Chinese Small-Time BTC Miners

Earlier this month, there was severe flooding in Sichuan, which coincided with a large drop in the hashrate of Bitcoin. What actually happened was that the floods swept away Bitcoin mining equipment in Sichuan, where there is an estimated population of 5 million mining rigs. The flood triggered a mass exodus of small-time miners from Sichuan to Xinjiang, creating what is hailed as 'the largest computing power migration ever.' (KE)

3 months ago

China has Over 16K Blockchain Companies

China has Over 16K Blockchain Companies According to a local news source, the number of blockchain companies in China have increased significantly. In the last 12 months, about 16,600 new firms in the country have reportedly declared blockchain as part of their business. Based on government data collected by qixin.com, the number of companies with the word ‘blockchain’ in their name surged in the first half of 2018. The data show that 3,078 firms registered using the word ‘qukualian’ between January 2018 and mid-July 2018. (VK)

3 months ago

Blockchain Startup Nervos Completes Series A Funding Round; Sequioa China, the Lead Investor

Nervos Network, a blockchain startup has completed its Series A funding round with $28 million having Polychain, Sequioa China, imToken and Bixin as the lead investors. The startup intends to develop a public blockchain network called Nervos that will be a solution to scalability and security issues of the blockchain, according to co-founder, Jan Xie. (KE)

3 months ago

China To Make Blockchain Core Technology

The deputy director of Ministry of Industry and Information Technology(MIIT) of China, Xin Guobin has urged the country to work at making blockchain technology a core technology since it is essential for various sectors of the country. Xin Guobin, while speaking at National Expert forum said blockchain could save costs, prevent forgery and tampering of information within the country. (KE)

3 months ago

Mixin Price Surges 21.4%

Mixin (XIN) experienced a 21.4% 24hr price surge, the largest on CoinMarketCap. XIN has had a volatile month: it peaked at $595 on July 9, and it is now trading at $477.37. XIN is ranked 54th with a market cap of $209M. (CP)

3 months ago

Police Confiscate $1.5 Million in Crypto During FIFA World Cup Gambling Crackdown

Local Chinese police officials have seized more than $1.5 million worth of crypto as part of an operation on gambling in the 2018 FIFA World Cup. According to the coverage on the Xinhua news outlet, the authorities noticed that there were ads on an online gaming platform, claiming that crypto like BTC, LTC, and ETH was accepted. An investigation was launched, which established that the site exploited regulatory loopholes to hide the proceeds of the gambling site. It culminated with six of the site organizers being arrested and $1.5 million worth of crypto seized by the police. (KE)

3 months ago

Chinese Crypto Tycoon Li Xiaolai Steps Down From Blockchain Fund

Controversial Chinese Crypto investor Li Xiaolai has stepped down from his partnership role at Blockchain Fund 'Hangzhou Xiong'An' after a series of defamatory remarks made against him by Chen Weixing. Chen accused Li of gambling away 30,000 BTC which was meant to kick-start a fund. However, Li himself has made defamatory remarks against many industry players. Just last week, in a leaked conversation he called Binance "cheating controversy within the Chinese cryptocurrency community" and Qtum's -co-founder a "Spin doctor." (VS)

3 months ago

Kenyan Authorities May Legalize Bitcoin Shortly

According to a Business Daily report, the Kenyan Finance and National Planning Committee has summoned the country's treasury secretary, Henry Rotich, demanding immediate answers as to why the Treasury, as well as the Central Bank of Kenya (CBK), have failed to establish regulations for the crypto space and for taxing crypto traders. It is noteworthy that while Kenyan authorities are still pondering on the path to follow regarding virtual currency regulation, their Ugandan neighbors have taken several steps up the crypto ladder, making the region a hotbed for bitcoin-based businesses. (JF)

3 months ago

Holland Takes Over the European 'Blockchain Revolution'

The Netherlands is flexing its bureaucratic muscles to renovate a range of public services with blockchain, a decentralized digital ledger technology, which also constitutes an underlying algorithm of bitcoin and other cryptocurrencies. Major government agencies, including the Ministry of Economic Affairs and Climate Policy and the Ministry of Justice and Security, have launched dozens of pilot projects with private enterprises and universities to test how much blockchain can build trust and transparency of public services without traditional centralized data collectors and managers. (JF)

3 months ago

Privacy-Centric 'Bob Wallet' Adds Bitcoin Cash Support

The open source project Bob Wallet is a different type of wallet that doesn't allow you to make payments to others as its only purpose is to allow the movement of funds from your public wallet to a private wallet in an isolated manner. The Bob Wallet project is currently in beta form and should only be used in Testnet for now until the software is thoroughly tested. Last week the Bob Wallet programmers added bitcoin cash (BCH) support, so BCH users can use BCH Testnet coins and experiment with the mixing service. (JF)

3 months ago

Top 5 Performers Over the Past 24-Hours: Bitcoin Diamond, Mixin, RChain, Digibyte, Nuls

Even with the recent upswing in the market, there have been coins that have outperformed others. In the top 100 according to CoinMarketCap, 5 coins have shown more than a 10 percent improvement over the past 24 hours. Bitcoin Diamond is currently up 56%, trading at $3.12. Mixin (XIN) is up 17% at $540, RChain (RHOC) is up 14% at $0.79, DigiByte is up 12.3% at $0.037, and Nuls (NULS) is up 10.77% and trading at $2.44. (JF)

3 months ago


News courtesy of berminal.com
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