Wednesday, September 19, 2018

Coinbase Hire / Bitcoin Cash Debate / Mining Costs / Core Bug

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Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Coinbase has hired Michael Li as its vice president of data. Li spent the past seven years at LinkedIn, most recently as its head of analytics and data science. This is the latest in a number of high-profile hires the company has made this year, including Tim Wagner, the former general manager of Amazon Web Services; Jeff Horowitz, the former global head of compliance at Pershing, and Balaji Srinivasan, the former CEO of Earn.com. –TECH CRUNCH

Coinbase makes another notable hire
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2. Bitcoin cash's future is at stake, and maybe its survival. Bloomberg looks deeper at the potential hard fork on November 15, and the irony that the philosophy of creating a network directly in line with Satoshi Nakamoto's vision for bitcoin may be the cause of bitcoin cash's demise. There will also likely be confusion: both forks want to keep the name bitcoin cash that will hurt both coins, assuming they survive. –BLOOMBERG

Developers fight for the soul of bitcoin cash
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3. Bitcoin mining costs have doubled since May, according to a new report. Sam Doctor, a quantitative analyst at Fundstrat, concluded that bitcoin's requite hash power of 57 exahash per energy – otherwise known as the energy to confirm transactions – now costs more than $4,000 per bitcoin. That figure does not include overhead, like machinery wear and tear, which could drive costs even higher. –CRYPTO SLATE

Bitcoin mining costs have doubled in recent months
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4. Bitcoin developers have released a new version of the bitcoin core client that fixes a "very scary" bug. Developer Wladimir van der Laan said the vulnerability, known as CVE-2018-17144, has been patched. If left unfixed, hackers could have performed duplicate transactions and burn block rewards, forcing nodes off the network in the process. –BITCOINIST

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5. Fidelity Investments is about to begin offering crypto-related products. –ETHEREUM WORLD NEWS

6. A café in Switzerland has become the first in the world to allow customers to order menu items using bitcoin's lightning network. –BITCOINIST

7. Soluna will begin to build a 36-megawatt bitcoin mining farm in Morocoo in January of next year. –COIN TELEGRAPH

8. A group of artists in France is celebrating bitcoin's upcoming 10th birthday with a cryptocurrency art exhibition. –THE NEXT WEB

9. Forbes writes about Coveware, the company that pays bitcoin ransoms on behalf of its customers. –FORBES

10. A report claims that bitcoin transactions are 300 times cheaper than wire transfers, mainly because banks take so much of the fee as profit. –NEWS BTC

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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