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Bitcoin News Wednesday, June 13

Bitcoin’s Collapse Accelerates, Falls to Lowest Since February

  • A token representing Bitcoin virtual currency sits among cables and LED lighting inside a ‘mining rig’ computer in this arranged photograph in Budapest, Hungary.
  • Photographer: Akos Stiller/Bloomberg – – Bitcoin tumbled to its lowest level since February as the meltdown in the worlds largest digital currency accelerates, renewing concern about the long-term viability of the much hyped alternative to traditional currencies.
  • Most recently was the cyber intrusion on the South Korean cryptocurrency exchange Coinrail this past weekend that appeared to result in a loss of an unknown quantity of digital currency.
  • Back in May, the sector found itself under increasing government scrutiny when the Justice Department opened up a criminal probe into illegal trading practices that can manipulate the price of Bitcoin and other digital currencies.
  • And earlier that same month, Bitcoin got no love from two of the worlds wealthiest men, Bill Gates and Warren Buffett, with the latter calling the currency probably rat poison squared.

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Bitcoin’s Collapse Accelerates, Falls to Lowest Since February

The robot will see you now: how AI could revolutionise NHS

  • Robots could soon help hospital patients eat their meals, diagnose serious illnesses and even help people recover from operations, in an artificial intelligence revolution in the NHS, a new report predicts.
  • Widespread adoption of AI and the NHS embracing full automation could free up as much as 12.5bn a year worth of staff time for them to spend interacting with patients.
  • Given the scale of productivity savings required in health and care and the shortage of frontline staff automation presents a significant opportunity to improve both the efficiency and the quality of care in the NHS, says a new report released on Monday by the Institute for Public Policy Research (IPPR)…
  • The report, part of a major piece of research into how to make the NHS sustainable as it approaches its 70th birthday on 5 July, states: Unlike many industries, where there are fears that automation will result in mass unemployment, in health and care automation will primarily complement human skills…
  • For it to be welcome health services will have to sensitively blend new technologies with old-fashioned care, said Andrew Foster, chief executive of the Wrightington, Wigan and Leigh NHS trust, who was also the Department of Healths director of human resources for the NHS from 2001 to 2006.

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The robot will see you now: how AI could revolutionise NHS

Crypto hacks: Is your bitcoin investment safe?

  • In the latest incident, South Korean exchange Coinrail announced Monday that it had been targeted by cyberthieves, who stole about 30% of its virtual currencies.
  • In January, Japanese exchange Coincheck said hackers stole more than $500 million worth of cryptocurrency.
  • That’s just the tip of the iceberg, according to Yo Kwon, the CEO of Hosho Group, a Nevada-based company that specializes in securing applications that use blockchain, the technology behind bitcoin and other cryptocurrencies.
  • Kwon estimates that about a third of all cryptocurrency exchanges have been hacked at some point.
  • Japan, meanwhile, officially recognized bitcoin as legal tender last year and started licensing exchanges but it took a tougher line after the Coincheck hack.

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Crypto hacks: Is your bitcoin investment safe?