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Tesla has admitted that it 'may' start accepting Bitcoin as payment for its cars again in its latest financial statement to the U. In a submission to the SEC in Tesla stated: 'We may in the future restart the practice of transacting in digital assets for our products and services. In May Musk tweeted: 'We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Bitcoin is a virtual currency which can be used to buy products and services online. Some physical shops accept it too. El Salvador even accepts it as legal tender.
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- Ethereum Suffers Worst Month in Nearly 2 Years, SOL Falls Even Harder
- Kazakhstan's deadly protests hit bitcoin, as the world's second-biggest mining hub shuts down
- Bitcoin flirts with $69,000 on heels of surging inflation news
- Congress weighs cleaning up cryptocurrency mining in the US
- Bitcoin price falls below $42,000 as Fed hints at interest hike
- Bitcoin, Ethereum among cryptocurrencies losing value amid investor uncertainty
- This power plant stopped burning fossil fuels. Then Bitcoin came along.
- Bitcoin miners caught in internet blackout amid bloodshed in Kazakhstan
- As Bitcoin, Ethereum Held Firm Last Week After Crash — These Metaverse Tokens Struck Big Gains
- Bitcoin is the newest tool in the battle against inflation — Here’s why
Ethereum Suffers Worst Month in Nearly 2 Years, SOL Falls Even Harder
Greg Myre. As ransomware cases surge, the cyber criminals almost almost always demand, and receive, payment in cryptocurrencies like Bitcoin. The problem has long plagued bank robbers and drug smugglers: how to transport and hide huge sums of ill-gotten gains without getting caught? In the past few years, ransomware hackers have found an almost perfect solution — cryptocurrencies like Bitcoin. It's fast. It's easy. Best of all, it's largely anonymous and hard to trace. The FBI has blamed the attack on a Russian criminal gang.
Until recently, many cyber crimes involved the small-scale theft of individual credit cards or bank accounts. Bitcoin and other cryptocurrencies made it possible to extort huge ransoms from large companies, hospitals and city governments. And if the cyber thieves live in countries like Russia — which many do — there's virtually no chance of getting caught. This means anybody can observe online. But the parties in a transaction are anonymous, disguised with a random number.
And a lot of people have not just one address, one wallet, but have dozens, hundreds. So hackers can keep moving the currency from one anonymous account to another.
That makes it very difficult — though not impossible — to trace. Consider the case of Colonial Pipeline, which was hacked last month, leading to the shutdown of gasoline supplies in the eastern U. Deputy U. The attackers are believed to be based in Russia. Getty Images hide caption. This case marked a big breakthrough. The Justice Department said this was the first time that a task force devoted to ransomware has been able to claw back some of the money.
Still, this is unlikely to become the norm any time soon. The FBI poured resources into the Colonial case because it was a high-profile attack that shut down a pipeline critical to the nation's economy. The FBI won't be able to devote so many resources to every ransomware attack. And the cases are tough to solve. According to court documents, the FBI worked its way through a maze of more than 20 cryptocurrency accounts to find the hackers.
When it did locate the account, the bureau then sought a U. But then comes the real mystery. Even when the FBI located the computer, and had the court order, the bureau still needed the secret encryption key to unlock the account and capture the Bitcoin. The FBI hasn't said how it did this, and this has prompted widespread speculation and a range of possible scenarios in the cybersecurity community.
The FBI discourages ransom payments, and some companies do refuse to pay. But the decision is up to the company or institution that has been hit, and many feel it's better to pay and resume operations rather than risk a protracted shutdown.
Some insurance companies are no longer covering ransomware, or are imposing a range of restrictions, he added. And there are insurers who are completely excluding health care, public sector and higher education," all of which are frequent targets.
Amid all these developments, the Biden administration and some members of Congress are starting to talk about regulating cryptocurrencies. But so far, it's just talk. Greg Myre is an NPR national security correspondent. Follow him gregmyre1. Accessibility links Skip to main content Keyboard shortcuts for audio player. NPR Shop. How Bitcoin Has Fueled Ransomware Attacks If you're planning a multi-million dollar ransomware attack, there's really only one way to collect - with cryptocurrency.
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Kazakhstan's deadly protests hit bitcoin, as the world's second-biggest mining hub shuts down
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Bitcoin flirts with $69,000 on heels of surging inflation news
As the Central Asian nation of Kazakhstan plunged into chaos this week, an internet shutdown hit the world's second-biggest bitcoin mining hub, in yet another blow to miners searching for a permanent and stable home. Less than a year ago, China banished all of its cryptocurrency miners, many of whom sought refuge in neighboring Kazakhstan. But months after these crypto migrants set up shop, protests over surging fuel prices have morphed into the worst unrest the country has seen in decades , leaving crypto miners caught in the middle. After sacking his government and requesting the aid of Russian paratroopers to contain the fatal violence, president Kazakh President Kassym-Jomart Tokayev ordered the nation's telecom provider to shutter internet service. As Kazakh miner Didar Bekbau put it, "No internet, so no mining. The price move followed the release of hawkish minutes from the Federal Reserve's December meeting. Castle Island Ventures' Nic Carter thinks the supply delta from changing the pace of mining is minimal and that the falling price of bitcoin is more a function of the Fed and "general risk-off behavior.
Congress weighs cleaning up cryptocurrency mining in the US
As winter starts to wind down, you may be stepping up your plans for a spring-break trip. If you haven't looked since Christmas, you may be in for a surprise: Many fares are up. In fact, the largest U. Most of the hikes are hitting smaller cities and less competitive markets.
Bitcoin price falls below $42,000 as Fed hints at interest hike
Wormhole, a site that allows the transfer of information from one crypto network to another, said that it was 'exploited' for , units of a version of the second-largest cryptocurrency, ether. Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image. You are now subscribed to our newsletters. Listen to this article. Bitcoin, ether, dogecoin, Solana, other crypto prices fall today 1 min read.
Bitcoin, Ethereum among cryptocurrencies losing value amid investor uncertainty
Or more specifically, the cryptocurrency enthusiasts who believe in only Bitcoin superiority. A month later, in June, Musk went gone back on that comment, with a slight tweak. Musk announced that the electric carmaker will resume allowing bitcoin transactions when miners who verify transactions use more renewable energy. On Friday, Musk posted a snide tweet about Bitcoin maxis - very much not aligned with his earlier sentiments about Bitcoin. Maxis believe that all other digital currencies are inferior to Bitcoin. Bitcoin maximalists also believe that these other cryptocurrencies—called altcoins—are unnecessary and inferior. Elon Musk, Tesla CEO, SpaceX boss and Dogecoin advocate, in a recent interview while at a public signing mentioned, that this cryptocurrency may be the future.
This power plant stopped burning fossil fuels. Then Bitcoin came along.
Greg Myre. As ransomware cases surge, the cyber criminals almost almost always demand, and receive, payment in cryptocurrencies like Bitcoin. The problem has long plagued bank robbers and drug smugglers: how to transport and hide huge sums of ill-gotten gains without getting caught? In the past few years, ransomware hackers have found an almost perfect solution — cryptocurrencies like Bitcoin.
Bitcoin miners caught in internet blackout amid bloodshed in KazakhstanRELATED VIDEO: ОБЗОР ПО БИТКОИНУ (BTC) / SOL / BNB / BCH
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As Bitcoin, Ethereum Held Firm Last Week After Crash — These Metaverse Tokens Struck Big Gains
Recent Bitcoin price weakness and continued volatility across the asset class belie a wave of institutional adoption that accelerated throughout , ETC Group research shows. Perhaps the most striking example of institutional adoption came from what is understood to be the first public US pension fund detailing a direct investment in Bitcoin, 12 years after Bitcoin's creation and six years after the asset became widely available to the general public through regulated exchanges . As ever, the question of whether to allocate institutional capital to Bitcoin is down to the particular preference of an investment committee. But the asset is becoming ever more closely integrated with world financial systems and has demonstrated the potential for outsize returns over time. According to SWFInstitute. It, too, made its first ever publicly-announced investment into cryptoassets in October By investing in the not-yet-public Celsius lending network  , CDPQ has made a structural long-term bet on the future of cryptoassets.
Bitcoin is the newest tool in the battle against inflation — Here’s why
The event was held to discuss U. Al-Otaiba did not respond to further questions from The Associated Press about how many missiles targeted the UAE and how many were intercepted. Gulf Arab states, as well as the U. The attack killed two Indian nationals and one Pakistani.