🗞 Daily Crypto News, December 7th💰

Monero Developers Aim to Reduce Transaction Size by 80% or More;
Steam Stops Accepting Bitcoin Payments Citing Extreme Volatility, Fees;
Austrian Government Backs New Blockchain Research Institute
Nicehash Mining Pool Allegedly Hacked — Accused of Losing 4449 BTC (US$60M)
Bitcoin Rockets Past $14,000 Astonishing Everyone
IOTA Trading Update by @cryptopassion

🗞 Monero Developers Aim to Reduce Transaction Size by 80% or More

Standing still in the world of cryptocurrency will eventually lead to sudden demise. This is why the Monero developers are working on a new solution to reduce the network’s transaction size. If this effort is successful, transactions will become 80% smaller than they are now. The goal is to implement this change by September 2018 at the latest, although that date is subject to change.

🗞 Steam Stops Accepting Bitcoin Payments Citing Extreme Volatility, Fees

"To date, every claim made by these bad actors has been patently false and made simply to agitate the cryptocurrency ecosystem. As a result, Bitfinex has decided to assert all of its legal rights and remedies against this agitator and his associates.”

🗞 Austrian Government Backs New Blockchain Research Institute

"We are bringing together the expertise of the entire community, so that needs of our entrepreneurs can be incorporated into the agenda of the incoming administration. In Europe, Austria already has a leading role in the field of blockchain, having implemented an ambitious roadmap. Now we need to ensure that the next steps are taken and create sandboxes to promote real business applications. Otherwise the competitiveness of our business sector is impeded."

🗞 Nicehash Mining Pool Allegedly Hacked — Accused of Losing 4449 BTC (US$60M)

According to reports circulating on the web, the mining pool Nicehash was hacked today for allegedly 4,449 BTC or US$60M at current prices. The Nicehash pool has confirmed the organization was breached but did not disclose how many bitcoins were stolen.

🗞 Bitcoin Rockets Past $14,000 Astonishing Everyone

The price of bitcoin has once again reached a new price high on December 6 touching $14K across exchanges worldwide. The value touched an all-time high of $14,047 and quickly dropped to the $13,500 range shortly after. At the moment order books across exchanges are going wild.