Canada’s DMG Blockchain Puts 85 Megawatt Crypto Mining Facility Into Operation

Canadian blockchain and cryptocurrency company DMG Blockchain Solutions Inc. has energized its new crypto mining facility, according to an announcement published Nov. 8. DMG states that the facility will start at 60 megawatts, and can expand its capacity up to 85 megawatts. DMG Blockchain Solutions initially revealed its plans to launch the station in July,…

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Bitcoin Mining Attack Causes University to Shut Down Network

St. Francis Xavier University in Nova Scotia was forced to shut down their entire network due to a Bitcoin mining attack. The focus on cryptocurrency mining is on large corporations that have entire farms devoted to digging for digital gold. Yet there is a good deal of profit to be made from illicit crypto mining…

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Bitcoin Is ‘Anything but Useful’ Says Ex-Federal Reserve Chair Janet Yellen

Bitcoin is “anything but” a useful store of value, former U.S. Federal Reserve chair Janet Yellen stated in a speech Monday, Canadian financial news outlet Kitco reported Oct. 29. Speaking during an interview at the 2018 Canada FinTech Forum in Montreal, Yellen – who rose to fame in the cryptocurrency community last year as the…

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Canada Border Services Test Blockchain Technology to Streamline Processes

The Canada Border Services Agency (CBSA) is the latest entity to partner with a blockchain-based platform in a bid to make its systems more efficient. Tracking goods is an intensive business, relying on many people and many documents. However, when you put these two components together in a high-stressed and fast-paced, human errors and misplaced…

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Bitcoin (BTC) ATM Operator not Liable for Stolen Money in a Scam, Says Canada’s Judge

BTC purchasers bear the responsibility themselves, justice Nancy Orr wrote in the verdict regarding a $48,000 Ponzi scheme. Canadian judge Nancy Orr has ruled that a woman who fell victim to a phone scam involving a Bitcoin (BTC) ATM was responsible for losing her money, not the ATM operator, local media reported on Friday. According…

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Scam Victim Loses Claim Against Canadian Bitcoin ATM Firm

A woman suing for 62,500 Canadian dollars ($48,125) sent to a phone scammer over a bitcoin ATM has lost her court case, local media reported. On Friday, Charlottetown Provincial Court chief judge Nancy Orr ruled that the fiat money deposited by the woman into the teller machine belonged to Instacoin ATM Canada Inc., owners of…

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Trump doesn't realize the impact trade war could have on his voters, asset manager warns

The prime victim of the sparring of tariffs between the U.S., China and others will be consumers, because prices will likely go up, an AllianceBernstein investment chief said. AllianceBernstein’s Phelps also implied that heightened protectionism could affect the long-term investment decisions of shareholders. The U.S. this week imposed a 10 percent levy on $200 billion…

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Canadian Town Pays Hackers Ransom in Bitcoin (BTC)

An amount in Bitcoin (BTC) is what the Canadian town of Midland is said to have paid to regain access to its hacked computer systems. The ransom that the Canadian town of Midland has paid to cyber criminals to have its servers unblocked was in the form of Bitcoin (BTC), media source Global News reported…

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Crypto Exchange Kraken Denies Rumors of Sudden Staff Layoffs in Canada

Crypto exchange Kraken, currently ranked 11th largest globally by daily trade volumes, has denied rumors that it is laying off staff in its unit in Halifax, Canada, Finance Magnates reports September 6. The denial comes after a post to a local discussion thread on reddit alleged that Kraken’s “unit 102 at 60 Highfield park drive”…

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IOTA Looks West, Seeks Business Development Manager for North America

Berlin-based IOTA is planning to expand to North America, according to a Twitter post published by the foundation’s head of business development. The job description involves being able to explain the fundamentals of IOTA’s network, the Tangle, “in order to trigger tangible cooperation.” The employee’s job will be to make partnerships with companies, represent IOTA,…

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Shares in Novogratz’s Crypto Bank Galaxy Digital Plunge 20% in Toronto Exchange Debut

Shares in Mike Novogratz’s crypto-focused merchant bank plunged 20 percent during their trading debut on a major Canadian stock exchange Wednesday, August 1, CNBC reported. After opening at $2.75 Canadian dollars ($2.11 USD) apiece for their first ever listing on Toronto’s TSX Venture Exchange, shares in Galaxy Digital LP fell 20 percent in the first…

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Exchanges Round-Up: Dcex Uses XRP as Base Currency, Blocktrade Enters Beta

In recent news regarding bitcoin exchanges, Dcex has launched a peer-to-peer cryptocurrency exchange that will use XRP as its base currency, ESMA regulated exchange, Blocktrade, has opened for beta testing, and Coinfield has announced a partnership with fee-free trading app Moongo. Also Read:Banks Don’t Really Want to Use ‘Blockchain’ for FX Settlement After All  Dcex…

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Bank Of Canada Study Addresses Double Spending On Blockchain Systems

A recent report from Canada’s central bank discusses “cheating” on a blockchain through double spending and likens the potential issue to classic incentive compatibility constraints within game theory. Researchers Jonathan Chiu and Thorsten V. Koeppl from the Bank of Canada, the country’s central bank, published a working paper detailing their model to test “cheating” on…

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The Daily: Minsk Mulls Rules for Exchanges, Qiwi Awards Employees with Tokens

In today’s Bitcoin in Brief, Belarus, which legalized crypto activities this spring, is now turning its attention to adopting standards for companies operating crypto exchanges and issuing tokens. We’ve covered the decision of the Russian payment provider Qiwi to motivate its employees with tokens. The Daily also features crypto news from China and Canada. Also…

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Québec Charging Cryptocurrency Miners Double for Electricity

The Canadian province of Québec has been given permission to charge cryptocurrency miners higher electricity rates than those charged to residential customers. Canada has never been one to shy away from their interest in cryptocurrencies. They are also using blockchain technology to streamline certain air travel procedures and have given the go-ahead for a blockchain exchange-traded fund (ETF)….

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Canada’s Large Credit Union Coalition Joins Blockchain Consortium R3

The Large Credit Union Coalition (LCUC), a group comprising of the chief information officers (CIOs) of the 16 largest credit unions in Canada, has joined New York-based blockchain consortium R3, according to an announcement published July 17. The LCUC, whose corporate members include more than 3 million entities and represent over $125 billion in assets,…

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Bitcoin Awareness in Canada Rises to 85%: Bank of Canada Report

The high awareness among Canadian residents hasn’t translated to ownership of the digital currency, with the survey finding that only 5 percent of the population owned Bitcoin. This is an increase from the 2.9 percent recorded a year earlier. As expected, the tech-savvy 18-24 demographic leads the race, having more than doubled from 6 percent…

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'Intense' Bitmain Lobbying Forcing Smaller Bitcoin Miners Out of Quebec

A month after authorities in Quebec lifted a moratorium on allowing Bitcoin miners, local businesses have begun threatening to leave suspecting unfair policies. ‘Very Saddened’ In a series of tweets June 28, D-Central founder Jonathan Bertrand claimed that due to conflicting interests and agendas at government level, as well as an “intense lobbying effort” from…

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Ukrainian Men Arrested Over The Operation Of Cryptocurrency Scams

The regulatory crackdown on fraudulent and malicious cryptocurrency operations has continued, with more reports showing scams falling to the might of regulators. The BleepingComputer reported that Ukrainian men had been arrested on suspicions of the operation of fraudulent cryptocurrency exchanges. Four Men, Over Six Fake Cryptocurrency Exchanges According to the aforementioned article from a popular…

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