Following are the latest Bitcoin news of the day
Bitcoin Companies-IWF to Combat Child Pornography Together
The Internet Witch Foundation (IWF) plans to work with Bitcoin exchanges to combat the use of digital currencies in child pornography. The nonprofit however decided to keep the main details hidden, as its Director of External Relations, Emma Hardy, only spoke about their plans to keep new technologies unexploited by online criminals.
GAW Miners Sued over Electricity Payment Default
Mississippi Power Company (MPC) recent filed a lawsuit against the Bitcoin mining firm GAW Miners over payment default. According to the available reports, the Bitcoin company owes around $350,000 to MPC, including the court costs. “By GAW failing to make payments on a monthly basis for electric service provided by MPC, it is in breach of the contract,” says the complaint letter. “Additionally, by failing to complete the one-year term under the contract, GAW is in breach of the contract. Due to GAW’s breach of the contract, MPC has suffered certain damages, including, but not limited to, the Installation Cost, the Monthly Minimum Amounts and the Past Due Balance.”
Bitcoin Price Hitting New Lows
The Bitcoin price yesterday fell to the February’s downside support near 215 as a part of downward momentum that started two weeks back. As the bearish pressure continues to stay, investors are predicting Bitcoin to retest the downside bottom level near 200, a movement that will bring back the scary 165-low in sight. The price, for now, is attempting weak upside corrections and is testing 230 as its next resistance level.