Cryptocurrency Highlights Of The Week

KnCMiner launching Bitcoin Cloud Mining service and Dogecoin price heading to the moon again. Here are the cryptocurrency highlights of week 36:

  1. Bitcoin foundation co-founder and former BitInstant CEO Charlie Shrem has pleaded guilty to aiding and abetting an unlicensed money transmitting business. This concerned online drug market Silk Road, which was shut down by U.S. authorities in October 2013. Shrem is now facing a 5-year sentence.
  2. New York has put itself at risk of being cut off from the digital currency industry by proposing BitLicenses. The proposed measures are considered too strict, and therefore may hurt the industry more than it would help. Bitcoin wallet provider Xapo has now announced that it may avoid New York customers completely if the state passed its proposed BitLicense plan. Following critique, New York has already extended the BitLicense comment period.
  3. KnCMiner is now offering six-month mining contracts out of its mining farm in the polar region, in its new service Cloud Mining. The arctic air is required to cool the mining farms, from which Bitcoin miners can be rented starting at $2,000 for 1 TH/s.
  4. The strategy “Sell in May and go away; but remember to come back in September” seems to apply well to Dogecoin, which has a rather stable market capacity of $35 million in May. During this months, the market value entered a steady decline to about $12 million by the end of August. But the price seems to be making a turn in the first week of September, as the market capacity has swiftly gone up to $19 million today.
  5. Following a significant jump in price over the past 24 hours, Dogecoin has once again passed Peercoin in total market value. The last time this happened was in February this year, when both coins had a combined market capacity of more than $180 million. Right now, their combined value of $35 million is still 80% lower.
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