Tag: bitcoin

VENEZUELA ARRESTS 4 BITCOIN MINERS AS TRADING HIGHS CONTINUE

VENEZUELA ARRESTS 4 BITCOIN MINERS AS TRADING HIGHS CONTINUE

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VENEZUELA ARRESTS 4 BITCOIN MINERS AS TRADING HIGHS CONTINUE As reported in local news resource Criptonoticias, four people running 300 machines to mine bitcoins are now in custody in Charallave, Miranda province. The Venezuelan Scientific, Penal and Criminal Investigation Corps said that the operation, which also involved the selling of bitcoins on the country’s border, was having a negative impact on the national grid. “The modus operandi of these citizens was as follows: through the Internet they had more than 300 miners Antminers to obtain Bitcoins, which they later monetized using a commercial website,” Corps director Douglas Rico commented. (via Bitcoinist)
High-Speed Traders Are Taking Over Bitcoin

High-Speed Traders Are Taking Over Bitcoin

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High-Speed Traders Are Taking Over Bitcoin One of the few traders willing to talk about their returns is Chen Zhenguo, who founded China’s largest platform for facilitating automated bitcoin strategies. Chen says he’s generated annualized gains of 50 percent for his own account, though he declined a Bloomberg News request to provide transaction details verifying his claims, saying they’re private. “Bitcoin has a natural advantage when it comes to automated trading,” said Chen, 30, whose Beijing-based BotVS allows clients to run live trials of their bitcoin algorithms on 23 exchanges. The cryptocurrency gained 6.9 percent to $890.77 at 10:18 a.m. in London. (via Bloomberg)