Google data show that bitcoin annual search volume ranking in the forefront

nRunaway Comment: According to Google’s recently released 2017 Year in Search 2017, bitcoin’s search has overtaken the news of this year’s heated Las Vegas shooting and solar eclipse. The Google data show that to promote the overall bitcoin rankings are South Africa, Slovenia, the Netherlands, Nigeria and Austria and other countries users, the United States user search for this entry is ranked lower than the global classification of the rankings.n
nTranslation: Clovern
Bitcoin or North Korea’s news search hot what high or low?n
According to recent data released by Google, bitcoin search volume occupy an advantage, ranking the forefront. As detailed in the 2017 trending overview, Year in Search 2017 published by the search giant, bitcoin ranks second in the Global News category, indicating that this year’s technology search The volume is higher than the number of searches for news events such as the Las Vegas shootings and the solar eclipse, which raged for this year.n
Similarly, “How To Buy Bitcoins” is also ranked “How to …” to search for third place on the category list.n
According to CoinDesk’s bitcoin price index (BPI) records, bitcoin prices have risen 20 times during 2017 from $ 900 in January to a record high of $ 19783 in December. CoinMarketCap data shows that the market value of cryptocurrencies has risen to more than 650 billion U.S. dollars from 17 billion U.S. dollars in early January.n
Interestingly enough, the overall push to Bitcoin seems to be outside of the United States. For example, in the U.S. national classification, Google data shows that bitcoin-related entries rank lower than their global counterparts.n
In fact, the search for “bitcoin” in Google’s trend shows that the countries that have contributed to the current search volume include South Africa, Slovenia, the Netherlands, Nigeria and Austria, while the United States came 16th.n

Enterprise Ethereum Alliance set up working groups in terms of identity, energy and interoperability

nRunaway Comment: The Enterprise Ethereum Alliance (EEA) has grown in strength since its establishment early this year, attracting many high quality members. At present, the organization has more than 300 members and a growing number of working groups driven by internal members. Recently, EEA announced the formation of a working group on digital identity, energy and multiplatform interoperability to explore the use of Ethereum in these areas. The active cooperation of its members can drive a real breakthrough in Ethereum technology and accelerate the pace of launching creative solutions.n
nTranslation: Inan
The Enterprise Ethereum Alliance (EEA) has set up three working groups on digital identity, energy and multi-platform interoperability, respectively, in the hope of using Ethereum technology to develop and implement specific solutions in these areas.n
Founded in February 2017, EEA now has more than 300 members and is the largest blockchain alliance in the world. The organization brings together leading companies such as Intel, Microsoft and MasterCard and Ethereum to develop start-up companies and even government agencies that aim to create enterprise blockchain solutions using open source Ethereum technology.n
In a statement issued recently, the EEA announced three new working groups in terms of digital identity, multi-platform interoperability and energy, bringing the total number of working groups and commissions within the Alliance to 17.n
Jeremy Millar, founding board member of EEA, explained:n
n”The EEA members consider identity, energy and multi-platform interoperability as three areas that will gain real benefits through Ethereum technology in 2018. Working groups are set up to help them innovate, test new ideas and remain competitive.”n
nThe Digital Identity Working Group will focus on the role of Ethereum blockchain technology in developing digital identity classifications that can be implemented across the technology sector.n
The Energy Task Force will define blockchain standards for Ethereum in the energy sector (oil and natural, refinery, trade, utilities, mining, etc.). The group will also develop the necessary infrastructure for the widespread implementation of Ethereum in the energy sector.n
Finally, the multiplatform team will work to make the Ethereum platform available to multiple operating systems and physical hardware. Its ultimate goal is to make the Ethereum blockchain platform popular.n
Millar added:n
n”These EEA workgroups focus on the real challenges that come with deploying and using Ethereum in the enterprise. The output is a key part of the mission of the EEA and our members believe they are actively involved in business development that is good for their own business “n

Many bitcoin exchanges stop accepting new user signups

nRunaway Comment: With the current skyrocketing Bitcoin prices, a large number of new users are pouring into the cryptocurrency market. While this massive increase in users is something that all businesses dream of, the Bitcoin Exchange has had to stop registering new users to upgrade support and backend systems to better handle these rapidly increasing traffic volumes. load. Bittrex, CEX.IO, Bitfinex and other major exchanges are suspended to accept new user registration, and explains the reason. The only way for new users today is probably to wait and try again.n
nTranslation: Clovern
A large number of new clients ask you to receive their funds, which may be the sweet worries all businesses dream of. But now, the Bitcoin exchange has had to try to ease the load to deal with the situation. As a result, the new trader has only a handful of exchanges left to choose from, as many exchange houses no longer register with new clients.n
Come back next yearn
Whether you are planning to explore the bitcoin world for the first time, or a veteran investor who wants to try to trade on many different exchanges, you may have noticed that it is not easy to open an account on many exchanges now It’s These companies face a large number of applications, but the support team can not provide services in a timely manner. Therefore, many exchanges have temporarily stopped accepting new users to apply for registration in order to be able to handle the existing business.n

Bittrex acknowledged previously reported user complaints and explained its decision to discontinue new registrations:n
n”We are excited to have so many new users joining the Bittrex community, but unfortunately we have to make some upgrades to our support and back-end systems to handle the increased traffic and load.”n
nCEX.IO also explains in a similar fashion the suspension of new user registrations:n
n”Every day a large number of users sign up on our exchanges, putting additional pressure on our support and validation teams, and we’re at a critical juncture now that the number of votes submitted to our support team has become extremely important.”n
nBitfinex also sent this message to all users who want to register:n
n”We decided to temporarily stop accepting new account registrations because we could not flood the system with newly filed small accounts and thus compromise the quality of service we provide to existing traders.”n
Decreased service qualityn
While other exchanges have not explicitly announced the cessation of new user registrations, many complain that virtually none of their applications for registration have yet been processed. If you keep enrolling in the queue while Bitcoin prices continue to rise, you may feel very painful to change it.n

At the same time, the rapid adoption of so many new users’ registrations poses no small challenge to providing normal services to the exchange. For example, Kraken admits:n
n”Operating conditions have dropped dramatically and become unreliable. Customers can experience severe congestion delays and difficulty interacting with all web pages and API services. Requests often experience timeouts and failures, and the only solution for now is to wait , Then try again. “n

31% of South Korea’s working-class investors are cryptocurrencies

nRunaway commentary: South Korean website Saramin recently conducted a survey of some of South Korea’s working-class and found that 31.3% of them are engaged in encrypted currency investment. Although some people have failed in their investment, most people benefit from the overall situation. With Bitcoin prices skyrocketing in the last two months of this year, many retail investors began to study and participate in this new market. This situation is quite worried about the South Korean government, prompting it to accelerate the specification of cryptocurrency-related behavior.n
nTranslation: Inan
South Korea 31.3% of working-class investment in virtual currencyn
On Wednesday, South Korea’s online job search portal Saramin conducted a survey of 941 working-class adults, with 31.3% claiming virtual currency investment, with an average investment of 5.66 million won ($ 5,300).n
Among those surveyed, 44.1% invested less than 1 million won and 18.3% invested between 1 million and 2 million won. 12.9% said that they invested more than 10 million won, 9.8% invested 2 million -4 million won, 7.8% invested 4 million -600 million won.n
As for the reasons for investing in virtual currencies, 54.2% of people think this is the quickest way to make money, while 47.8% think it is relatively easy to make small investments in this currency.n
Like any other investment, some earn, others lose. About 80.3% of respondents said their investments in cryptocurrencies paid off, while 6.4% said they lost money while 13.2% said they even went bankrupt. Of these, 21.1% reported returns above 10% and 19.4% reported returns above 100%.n
Market prosperity is accompanied by an increase in uncertaintyn
South Korea is particularly active in bitcoin. It owns three of the world’s largest cryptocurrencies, accounting for 20% of global Bitcoin transactions.n
It is estimated that 200 million people in South Korea own bitcoin and other digital currencies. The surge in bitcoin prices has attracted a great deal of newbies – from college students to seniors. They are willing to pay a premium of 15% to 25%, hoping Bitcoin’s gains will continue.n
With so many individual investors joining the market, South Korean authorities are concerned about the potential impact of the crash. In early December, the South Korean government said it is preparing a bill to ban activities related to digital currency, including bitcoin, unless the deals are conducted on six exchanges that meet its requirements.n

Interpretation of today’s cryptocurrency market: Why is it so different from Wall Street?

nRunaway Comment: At the new year approaching, many people recall that the development of cryptocurrencies over the past year has always been a tribute to it. In fact, although this market has achieved a major breakthrough in 2017, it still exposes many problems, some of which may even affect its next trend of development. Jill Carlson, a well-known consultant, elaborates on these issues through this article, pointing out that today’s cryptocurrency market is replicating the old Wall Street system, reminding people to get back to the beginning and work hard to achieve the initial vision of cryptocurrency.n
nTranslation: Inan
The first time I actually heard the term cryptocurrency or working on Wall Street.n
That was 2013, when I was trading credit in Argentina. One of my brokers in Buenos Aires wondered if I knew bitcoin. At that time, Argentina had been squeezed out of the capital markets for more than a decade. The seemingly dollar-pegged Argentine peso is traded at a discount, leaving locals long for other ways of storing value.n
In this case, the meaning of Bitcoin is exactly a value reserve that will not be dominated or destroyed by a single central agency.n
As I learn more about Bitcoin, it shows my promise of functioning as an optimized financial system. The debt crisis in Europe, especially at the time of Cyprus, underscored the importance of digital storage of value that could be directly possessed – external actors could not undermine this value storage.n
This is an asset that does not require an intermediary. Removing middlemen from the trading system is very appealing. This technology allows direct interaction between the parties to the transaction without the need to disclose the details of the transaction or identity to a third party.n
This is also a programmable asset. As a derivatives trader, I spent a lot of time considering the counterparty’s risk, guarantee and capital requirements. Can smart contracts provide an automated method of auditing this systemic risk?n
Soon I was disillusioned with the old financial system: insider trading was conducted on a large scale, reckless ventures often rewarded, and market manipulation under various pretexts was still rampant.n
Cryptocurrencies are expected to become a substitute for this system.n
For many, 2017 is the first year they’ve actually heard of bitcoin. However, many of the promises of cryptocurrencies have not been honored in retrospect of the year.n
Instead, we built another traditional financial system around cryptocurrencies, so the participants are familiar to us: issuers, brokers, exchanges, and custodians. Along with these participants are those remaining issues such as centralized control, intermediaries, systemic risk, market failure, and, most importantly, “short-term greed.”n
We may think that we have fallen into a cryptocurrency rabbit hole, but in fact we are still living on Wall Street.n
Encrypted currency is often advertised as a “trustworthy” currency, which is to say that it allows people not to trust a single central agency but to trust networks of decentralized actors.n
However, many of the tokens that appeared last year were issued by a small team of entrepreneurs and must be trusted to get the project started. As cryptocurrency communities place importance on open source development, the latter part of their work is usually done in a more decentralized way.n
Therefore, investors and consumers need to coordinate the contradictions between decentralization of the project and the actual operation of the project in the early stages.n
The example of Venezuela probably best reflects this contradiction. Venezuelan President Nicolas Maduro announced his intention to issue a cryptocurrency a few weeks ago, possibly to avoid economic sanctions. This is unlikely to happen, and he overlooks the fact that one of Bitcoin’s promises is to function as a value reserve that is not controlled by the central agency.n
Even if Maduro issued a new Venezuelan cryptocurrency, the currency could be mismanaged like Bolivar.n
Other assets also show this. Tether is a centralized mismanagement token. It claims to be a fully backed and dollar backed asset. The fact is, however, that it is non-convertible and its issuer’s auditing activities are opaque and fraught with problems that make it as suspect and even more suspicious as any financial innovation product on Wall Street.n
Decentralization is a transformative concept in finance and technology. But if the source of the value of these products still depends on central issuers, how is it different from the financial products that Wall Street has developed for decades?n
Cryptocurrency is also considered a deintermediation technique. The point-to-point nature of such blockchain-based assets may be its most interesting feature.n
However, the real trading and custody of these assets is extremely dependent on intermediaries.n
The specialization of the distribution process is an example of a traditional system of crypto-currency copying. Services provided by investment banks in equity capital markets are now being packaged for sale to start-ups who want to sell tokens.n
These services include conducting due diligence on investors, asking for purchase, handling compliance issues and following legal procedures. On the one hand, this is an important measure that marks the maturity of the market. On the other hand, it is reshaping Wall Street’s system around this new asset class.n
This is also reflected in the platform for trading cryptocurrencies and tokens. The emergence of cryptocurrencies over the counter was particularly ironic for me because I was sitting right next to the trading desk when I first realized the value proposition of Bitcoin. These help desks and exchanges undoubtedly play a key role in providing liquidity to the market, but in many ways they are replicating the old systems we know about.n
As a result, decentralized exchanges are one of the most attractive areas of research in this area. Instead of rebuilding a traditional exchange, it seeks a new way of trading that more truly reflects the value proposition of the technology.n
As with exchanges, wallets also play an important role in promoting the adoption of cryptocurrencies. Interaction with private keys is still a serious user experience challenge. While many people choose to manage their cryptocurrencies on their own and do so precisely as an important feature of such assets, we have not yet seen which product is capable of achieving a secure and legitimate private key without relying on third parties custody.n
Instead, the industry once again created a mirror of the traditional system – a specialized hosting service.n
Not only is this new image not as inaccurate (or immature) as the old financial infrastructure on which they depend, it also alters and corrupts the product’s original intentions. Encrypted currency creates more intermediaries than the one it removes.n
The original purpose of such assets is to allow people to directly control their own funds, to avoid being seized by banks and the government. Nowadays, this kind of control is handed over to a new kind of actor, and these actors are often more irresponsible than in the traditional system.n
Institutional accountability issues are directly related to another commitment to encrypt money. With its programmability features, cryptocurrencies can enforce financial contracts. This will solve the issue of collateral management and ensure that capital requirements are respected. The financial crisis intensified in 2008, in part because of the lack of information on the part of the counterparty. The verifiability and enforceability of cryptocurrencies should help reduce or at least expose such systemic risks.n
However, the current situation of third parties created around cryptocurrencies is not different from what banks, exchanges and custodians faced in 2008.n
The mix of purse and exchange funding, opaque audits and ambiguous margin requirements are a few sources of institutional risk in this market. The relative lack of standards for cryptocurrencies means there is insufficient research and understanding of these risks. Users have not yet made a wide range of disclosure requirements in this regard.n
Emerging infrastructure built around cryptocurrencies is a mapping of Wall Street institutions. Therefore, it is not surprising that the same risks remain.n
The similarities between the old and new systems are not limited to issuers, infrastructure and institutions, but involve the integrity of the participants as well.n
In the cryptocurrency market, manipulation of markets, insider trading, fraud, higher shipping and conflicts of interest can be found everywhere. This is not surprising to Wall Street traders, especially given the relative immaturity of the cryptocurrency market.n
While I was still a trader, I clearly realized that on the other side of the Wall Street electronic screen was an investor who pledged a pension or college deposit to a broker, trustee, clearing house and other parties.n
As retail consumers start buying cryptocurrencies, the same goes for this emerging market.n
There have been some initiatives and standards in the industry. Like other areas of the cryptography market, these moves reflect to a large extent the lessons learned from Wall Street. For example, Messari is an open source EDGAR-like database that provides transparency to investors on newly issued tokens. The Brooklyn Project, sponsored by Consensys, focuses on consumer protection and token standards and encourages issuers to self-regulate.n
Even Coinbase’s investigation of employee internal transactions shows that it is taking its role in the market seriously and setting the standard for it.n
Through its own experience, Wall Street has also realized that accountability is an important market practice. This not only protects consumers but also ensures the growth and long-term growth of the entire market.n
“Long-term greedy”n
If the campaign for cryptocurrency in 2016 was all about replacing Wall Street’s infrastructure with blockchain technology, its propaganda in 2017 would be to replicate Wall Street’s infrastructure around cryptocurrencies.n
This led us to deviate from many of the original promises of cryptocurrency: a commitment on the part of issuers, middlemen and agencies. Unfortunately, their level of market integrity is almost the same as that of the old system, and their integrity is even lower due to the immature market and lack of consistent standards.n
“Long-term greed” is also a concept of cryptocurrency borrowing from Wall Street, which means that although some behaviors may return less in the short run, they will be good in the long run.n
These behaviors include steady growth in a stable market, which is very familiar with cryptocurrency investors. More importantly, these behaviors also need to respect other market participants.n
I think 2018 will witness the continued growth and self-regulation of the cryptocurrency market. 2018 will teach us that “long-term greed” is not only about holding, but also for maintaining integrity.n
Finally, cryptocurrency may find some way back in 2018 as the market remembers that the real value of cryptocurrencies does not lie in imitating the old system but in its initial decency and deintermediation commitments.n

Singapore International Commercial Court rejected B2C2 bitcoin lawsuit

nBankruptcy commentary: With the rapid rise of bitcoin prices, the case of British company B2C2 suing Quoine Singapore Crypto Exchange earlier this year has been getting more and more attention. At present, the Singapore National Commercial Court has ruled on this and dismissed the lawsuit in support of Quoine in order to ensure fair market withdrawal of the transaction. The decision also enabled more people who trade cryptocurrencies to realize that even though the new market is hardly regulated today, it is still not advisable to undermine its fairness. Honesty is an important factor in the normal operation of cryptocurrencies.n
nTranslation: Inan
Singapore’s International Commercial Court announced on December 28 the dismissal of a lawsuit filed by the plaintiffs in an attempt to recover 3092 bitcoin from a crypto-currency exchange.n
The case was brought to court by Singapore-based B2C2, an electronic market maker B2C2, in April this year against Quoine, Singapore’s cryptocurrency exchange, which attracted the attention of a large number of bitcoin. According to the CoinDesk Bitcoin Price Index, the current value of 3,092 bitcoin, worth $ 3.7 million, soared to $ 43 million.n
According to court documents, Judge Simon Thorley’s ruling upheld Quoine’s claim that prior B2C2 behavior was deliberately using the platform to make a profit, and the terms of the Quoine agreement gave the exchange the right to withdraw such deals.n
CoinDesk reported that B2C2 managed to capitalize on the “technical bug” that Quoine had seen in April, replacing 3,092 bitcoins with 309 tokines for a profit of 3.7 million U.S. dollars. According to CoinDesk’s price index, bitcoin was $ 1,226 at that time, about 25 times more expensive than ether.n
Quoine quickly withdrew the transaction without notifying B2C2 on the grounds that the company’s actions violated the market’s fairness rules, causing B2C2 to file a lawsuit in an attempt to recover 3092 bitcoins.n
According to court documents, Judge Thorley concluded:n
n”The plaintiffs were well aware that the price was completely inconsistent with all other prices it tried to trade on that very day (all prices were more than 250 times lower).”n
nBoth B2C2 and Quoine have not yet responded to the verdict.n

Former FDIC Chairman: Bitcoin Policy Should Not Strike Cryptocurrency Development

nStorming comment: FDIC is a government agency set up by the U.S. Congress, and Sheila Bair, who used to chair the organization, recently made a comment on Bitcoin. In an article she explained the value of money and supported the government in formulating policies that govern Bitcoin, but argued that the policy’s goal was to protect investors rather than to combat or even ban the new thing. In fact, experts from traditional financial institutions are sending more and more voices in support of cryptocurrencies, which is of great concern.n
nTranslation: Inan
Sheila Bair, former chairman of the Federal Deposit Insurance Corporation (FDIC), said that Bitcoin should not be banned because it does not have “intrinsic value.”n
In a column published this week by Yahoo Finance, Bair argued that there should be a policy to protect investors. She pointed out that the legal currency itself used to be like bitcoin, but a notion of being given value by society because people need a medium to trade and that the medium is “more dependent on psychological cognition than on physical property” .n
She added:n
n”Instead of making its own value judgments over bitcoins, the government should first ensure that our policies will not hurt its growth.”n
nHer support for cryptocurrency is not surprising given Bair’s previous career as an independent consultant and director of several blockchain and cryptocurrency-related projects, but since she was chairman of FDIC, a government agency set up in the U.S. Congress, Fan theory is still worth noting.n
She led the agency from 2006 to 2011.n
n”Since the advent of commerce, mankind has begun to give value to something of insignificant intrinsic value, especially in the case of exchange media, which is money, and we value it simply because of the people who deal with us.”n
nBair also mentioned some historical examples in which the government failed to maintain its legal currency value, indicating that she believes the government’s role should be focused on ensuring a fair and well-informed market that should be kept away from fraud, manipulation and over speculation.n

How Alaskan girls rely on the bitcoin issue of 2014 to pay college tuition

nRunaway Comment: In 2014, a female student in Alaska used bitcoin as a competition project, which at the time was undoubtedly favored by the judges. Up to now, this topic has not only brought her honor, but also gave her a certain amount of wealth. And because of this subject at the time and learned that the majority of bitcoin children still retain these bitcoin, while also maintaining interest in cryptocurrencies. As the story shows, educating your children about money and giving them some financial freedom is as soon as possible.n
nTranslation: Clovern
In 2014, a girl student decided to use bitcoin as a topic for her class project. In her report, she also distributed 30 copies of her wallet containing bitcoin to her classmates. Three years later, nearly half of her classmates retained the wallets they received, while others planned to use these unexpected fortunes to pay for university tuition. The girl at the center of the story of course is most profitable: the bitcoin gained over the years to help get the job done accumulates, and now she’s spending more than 3.5 bitcoin.n
Smart kids get bitcoin pocket moneyn
Clever children will not allow their parents to increase their pocket money: they simply ask their parents to change the currency (from legal currency to cryptocurrency) to pay for pocket money. This is what the sixth-graders of 2014 did, but the courageous girl did not stop there. The 12-year-old tries to make her classmates understand the wonders of bitcoin as the theme of her science competition.n

The girl’s bitcoin comes from a kind donation from users in the r / bitcoin section, while others come from her parents, who are also bitcoin enthusiasts. She created a messaging station to introduce bitcoin, bitcoin working principles and how to use it. Her submission was undoubtedly endorsed by the judges of the Interior Alaska Science Fair and eventually won the first prize in the competition. Some children may keep going behind after they have won the prize for winning the contest, but the little girl does not. She is still a big fan of bitcoin at the age of 15, and bitcoin has also paid off handsomely over the years.n
The sooner you reach Bitcoin, the bettern
In a post to the r / bitcoin section this week, the girl’s mother updated the status quo of assets in the winning scientific contest. She wrote:n
The 30 children who got bitcoin are now around the age of 15, and they all have their own wallets. That’s great. My daughters also said that they’ve put some bitcoin into the wallet again when the Bitcoin price is low (and high). Still others have never sold bitcoin and will keep them at college or long-term holdings.n
She finally said:n
n”Now that the group of Alaska kids with cryptocurrencies go out for a party, they talk about breaking news about central banks, forking, and bitcoin, all starting with the little science race in 2014. “n
nAt the time of the science competitions, a bitcoin cost about $ 850. Pupils who hold and retain their paper wallet with full knowledge of bitcoin now have a fortune. Girls now collect 3.45 bitcoins in donations to fund 2014 projects. Her mother explained that the private key was now kept in a safe place by her and was handed over to her daughter by the age of eighteen and she was free to use the money to pay for university tuition.n

As the story shows, the sooner the better, the better you can teach your children about money and give them some financial freedom. If the price of bitcoin makes it hard to use the bitcoin to give your child a car wash, there are always other options – bitcoin is one of them. Or, create a virtual ledger on the kitchen whiteboard to show “out-of-the-box deals” and round off the rounds at the end of the month. There are always many ways for motivated bitcoin parents to motivate their next generation to be interested in cryptocurrencies.n

Suddenly: South Korea intends to implement additional regulatory control of encrypted currency transactions

nBankruptcy comment: South Korean government said in a statement today said it will implement additional measures to monitor speculation in cryptocurrencies. According to the statement, such measures include the ban on the opening of anonymous accounts and the regulatory measures such as the closure of the virtual currency exchange at the request of the Ministry of Justice. Although there have been indications that the country may impose stringent regulation, the regulatory measures shown in the statement may still bring about no small impact on the country’s market. Related regulatory information is subject to further improvement.n
nTranslation: Clovern
DECEMBER 28 Seoul (Reuters) – The South Korean government said in a statement on Thursday that it will implement additional measures to regulate speculation in crypto currency trading.n
According to the statement, these measures include the ban on the opening of anonymous accounts and the regulatory measures such as the closure of the virtual currency exchange at the request of the Ministry of Justice.n
However, the government’s introduction of such regulatory measures is not beyond expectation. Because previously there have been reports that South Korea’s regulators are considering the regulatory measures, South Korean domestic media also have reported that South Korean financial regulators consider a total ban on encrypted currency transactions. In this regard, South Korea’s top financial regulator also clarified the relevant position, but at that time the ministries did not agree on specific regulatory measures.n
Not long ago, Youbit, the cryptocurrency exchange in South Korea, announced that it was suffering the second hacker attack this year and suffered heavy losses and went bankrupt.n