Canada Unable to Meet Electricity Demands of Bitcoin Miners

Canada’s Hydro Quebec will have to turn away cryptocurrency miners looking to setup operations in the province. The electricity supplier has been inundated with requests from cryptocurrency miners looking to setup operations in energy-rich province Quebec, according to Reuters.

Many miners, including giants like China-based Bitmain, have made it clear that they are looking to setup new mining operations overseas in countries with low power costs and surplus of energy. The crack down on cryptocurrency exchanges in China, as well as talks of power regulations applying to miners, has prompted miners to consider new sites to operate from.

Reference: www.cointelegraph.com

Katy Perry has joined the crypto craze

Perry’s nails are now decorated with 3D images of five cryptocurrencies superimposed over a background of US dollar bills: the currencies are Bitcoin, Ethereum, Litecoin, Stellar and Monero. The singer did not disclose the reasons behind her selection.

The post – captioned “$—CrYpTo ClAwS—$” – has managed to amass over 150,000 likes.

Perry has also tagged the Instagram accounts of all five cryptocurrencies – ethereum_updates, litecoinofficial, bit, stellarlumens and moneroofficial.

Reference:
https://cointelegraph.com/news/katy-perry-posts-her-new-crypto-claws-on-instagram

Coincheck has lost $400 Million in NEM Coins Hacking

How do you lose $400 million in crypto currency? That’s the question that one of Japan’s biggest crypto currency exchanges Coincheck is trying to answer. Coincheck’s co-founder Yusuke Otsuka said 500 million NEM coins worth about $400 milion were sent illicitly outside the venue. The news has spooked investors in Japan, where many investors are still wary of crypto currency exchanges 4 years after the Mt. Gox collapse, which was the world’s leading Bitcoin exchange at time, and Mt Gox hacking and collapse had crashed the price of Bitcoin by nearly 90% at that time from $1000 to $100 within a week. This new loss in Jan 2018 is one of the biggest of investor assets since Bitcoin’s launch. Japan’s Financial Services Agency is looking into the case.

Reference:
https://www.bloomberg.com/news/articles/2018-01-26/cryptocurrencies-drop-after-japanese-exchange-halts-withdrawals

BitSquare Exchange

The BitSquare Exchange is unlike other, more traditional exchanges thanks to the unique features that it has.

The open source desktop application allows you to buy and sell Bitcoins, which you can then exchange for other cryptocurrencies, or alternatively, for traditional national currencies. The things that really make this exchange stand out from others is that it has been designed to be instantly accessible, which means that there is no need for registration or approval from a central authority. Because the system is decentralised, peer to peer trading can’t be censored or stopped. It has been designed to be very easy to use, and because it is an open network, it means that the code is completely transparent and open.

BitSquare takes security very seriously though, and is incredibly safe. The decentralised arbitration system and security deposits protects traders, and the exchange will never hold your funds, ensuring that your transactions are incredibly secure. Every transaction that you carry out is private, which means that no one, except trading partners will exchange personally identifying data.

Year Launched: 2014

Country: N/A

Website: https://bisq.network/

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