Bitmain rushes to deploy 90,000 miners ahead of the Bitcoin Cash hard fork - The Block
Bitmain, the crypto mining giant, is reportedly deploying 90,000 S9 Antminer machines to the western Chinese region of Xinjiang. According to reports, Bitmain is strategizing its role in the impending "Hash War" for bitcoin cash. Bitmain is requesting that local mining farms support over 5,000 Antminers for each farm. Bitmain is a major holder of bitcoin cash and is supporting the ABC implementation of the network. A split of the bitcoin cash network is potentially damaging to Bitmain's holdings. (Source: Cointelegraph) Summing up the Bitcoin Cash hard-fork debate © 2019 The Block. All Rights Reserved. This posting was found by us on January 08, 2019 9:59 PM. Browse www.theblockcrypto.com for more similar content.
The SEC met again with the VanEck SolidX Bitcoin Trust team to discuss a bitcoin ETF - The Block
On November 28, representatives from three of the SEC's divisions met with representatives from SolidX, VanEck, Cboe and Patomak to discuss a proposed rule change to list and trade the first bitcoin ETF (VanEck SolidX Bitcoin Trust). A previous meeting happened on October 9 and focused on convincing the SEC that the market is mature enough to support the ETF. In the most recent meeting, the proponents made the argument that the underlying bitcoin market is comparable to other assets such as crude oil, silver and gold, which already have an ETF. According to the presentation, bitcoin derives its value as a ?money substitute? similar to gold and silver. The spot and futures prices of bitcoin are tightly linked, which the proponents claim is evidence of a well-functioning capital market. This posting was first seen by us on January 08, 2019 9:59 PM. You may want to visit www.theblockcrypto.com to find more similar content.
Report:80% of CoinMarketCap's top 25 bitcoin pair volumes are wash traded - The Block
Blockchain Transparency Institute, a team of blockchain data researchers, released a report analyzing cryptocurrency exchange data collected from CoinMarketCap's top 25 bitcoin trading pairs. Specifically, they took a deep dive into trading pairs on exchanges which show evidence of wash trading. Wash trading is a practice ? illegal in some jurisdictions ? in which traders simultaneous buy and sell their own orders, creating the appearance of higher trading volumes for an asset. Here are the findings from the Blockchain Transparency Institute's report: © 2019 The Block. All Rights Reserved. This data was discovered by us on January 08, 2019 9:58 PM. Have a look at www.theblockcrypto.com for complete listings from this source.
Two mining pools control close to 50% of the Bitcoin Cash hashrate - The Block
According to data provider coin.dance, over the past week, Coingeek and BMG Pool controlled 45% of the Bitcoin Cash hashrate. This number has grown to ~49% as of today. Coingeek and BMG Pool are owned by Calvin Ayre and Craig Wright, respectively. There have been internal debates in the Bitcoin Cash community over potential upgrades that could lead to a hard fork of the Bitcoin Cash blockchain, with Craig Wright pushing for his Bitcoin SV implementation. A majority control of the hashrate distribution could determine the winners of the debate. (Source: Trust Nodes) © 2019 The Block. All Rights Reserved. This item was obtained by us on January 08, 2019 9:55 PM. Visit www.theblockcrypto.com for more.
Poloniex offers futures trading for pre-fork Bitcoin Cash tokens - The Block
Poloniex, a cryptocurrency exchange, announced that the exchange is allowing its customers the option to "trade two tokens at the center of the about the pending Bitcoin Cash (BCH) hard fork." Starting on November 7, users on Poloniex will be able to trade Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV). This is not the first time an exchange has enabled pre-fork trading for cryptocurrencies. Back in October 2017, HitBTC users were able to trade futures for the SegWit2x token ? the token behind the contentious "NO2x" debate. SegWit2x was ultimately called off due to the lack of consensus and support. Traders with SegWit2x token futures ended up owning unredeemable options. (Source: Circle) This information was retrieved by us on January 08, 2019 9:53 PM. Visit www.theblockcrypto.com for more similar content.
Blockstream expands its Bitcoin satellite service to Asia-Pacific - The Block
Blockstream, the blockchain technology development company, announced that its Blockstream Satellite service now supports the Asia-Pacific region. The Blockstream Satellite was first launched in 2017, enabling bitcoin users to execute bitcoin transactions through leased satellites. According to Blockstream, its satellite protects users "against network interruptions" and reduces "Bitcoin?s dependency on internet access." In addition to expanding satellite coverage, Blockstream also announced that it is launching the Satellite API, which "empowers users to access the Blockstream Satellite network to broadcast data to the whole world, paid for via the Bitcoin Lightning Network." The Satellite API will be available in January 2019. This post was first seen by us on January 08, 2019 9:52 PM. Have a look at www.theblockcrypto.com for more from this source.
SEC pushes decision onVanEck-SolidX Bitcoin ETF to 2019 - The Block
The U.S. Securities and Exchange Commission has yet again pushed the decision deadline for a Bitcoin ETF proposed by investment management firm VanEck and blockchain startup SolidX. In a public notice, the SEC announced the new deadline for the ETC decision, pushing the date to February 27, 2019. The VanEck-SolidX Bitcoin ETF, is unique from other Bitcoin ETFs on the market, in that it deals with actual bitcoin, rather than bitcoin derivatives. According to Gabor Gurbac, Director, Digital Assets Strategy at VanEck, the ETF delay was "expected." Yesterday, at the Digital Asset Investment Forum in Washington DC, SEC Commissioner Hester Peirce warned the audience about holding their breath on a crypto ETF approval. "I do caution people to not live or die on when a crypto or bitcoin ETF gets approved," Peirce said. (Source: SEC) This data was discovered by us on January 08, 2019 9:51 PM. See www.theblockcrypto.com for more.
Bitcoin's average transaction fee only surpassed $55 once in history - The Block
In Nouriel Roubini's written testimony for the Hearing on Cryptocurrencies and Blockchain at the US Senate Banking Committee, Mr. Roubini said: "Paying $55 dollars of transaction costs to buy a $2 coffee cup is obviously never going to lead Bitcoin to become a transaction currency." Let's look at the data. According to BitInfoCharts's data, the current average fee is $0.408 while the median is $0.0966. In the past six months, the average fee exceeded $2 for 10 days but never reached more than $7. The median fee wasn't higher than $0.3 for almost the last four months. The average fee surpassed $55 for only one day in Bitcoin's existence on December 22. The highest median fee recorded was $34.1 on December 23. This publication was obtained by us on January 08, 2019 9:51 PM. Have a look at www.theblockcrypto.com for complete listings from this source.
Nasdaq is preparing to launch futures for bitcoin next year - The Block
U.S. equities exchange operator Nasdaq has pushed back its plans to launch a futures product for bitcoin, according to a report Tuesday by Bloomberg News. Reports first broke of Nasdaq's intentions to enter the bitcoin futures market in late 2017 when the price of the crypto was soaring towards $20,000 a coin. At the time, a source with direct knowledge of the firm's plans told this reporter that the futures product would go live in the second-half of 2018. Citing two people familiar with the matter, Bloomberg reported Tuesday that the firm will begin trading the product in the first quart of 2019. Its rivals ? CME Group and Cboe Global Markets ? launched their own futures markets in December 2017. With help from asset-manager VanEck, Nasdaq's futures will be based of the price of bitcoin across multiple spot exchanges, according to the report. (Bloomberg) This data was found by us on January 08, 2019 9:50 PM. See www.theblockcrypto.com for more from this source.
Bitcoin Cash ABC is nearly five times more valuable than Bitcoin Cash SV - The Block
Poloniex announced on Wednesday that starting from November 7, it will allow its customers to trade two pre-fork tokens prior to the upcoming Bitcoin Cash hard fork - Bitcoin Cash ABC and Bitcoin Cash SV. Poloniex said that it ?[wants] to empower the community to demonstrate their support through trading activity.? Poloniex was the first exchange to offer pre-fork Bitcoin Cash trading and it?s already underway so let?s look at the data. The summary table looks like this: The market is clearly estimating that Bitcoin Cash ABC is the more valuable fork with the price of $505. The price of Bitcoin Cash SV is currently $104, which is a mere 21% of Bitcoin Cash ABC's price. Yet, the less valuable Bitcoin Cash SV has three times higher volumes than Bitcoin Cash ABC. The price for Bitcoin Cash ABC and Bitcoin Cash SV combined is $609, which is $16 higher than the price of Bitcoin Cash. This article was retrieved by us on January 08, 2019 9:50 PM. Browse www.theblockcrypto.com to find more similar content.
Buying with bitcoin Though still not common, a tiny city in the Netherlands points the way to a digital future - The Block
The idea of bitcoin as ?the new global currency? has long been losing prominence as the primary narrative around the digital currency. These days, you?re more likely to hear about bitcoin as ?censorship resistant gold? rather than as a means of payment. The value of bitcoin payments handled by major processors fell to $96 million in September from a December 2017 high of $427 million, according to the data compiled by Chainalysis. As the blocks filled in December and January, fees to transact in bitcoin increased rapidly. As a result, for some time bitcoin became impractical for payments. By January, Stripe announced that it was ending support for bitcoin payments, citing high fees and long transaction times. With the emergence of Lightning Network as a payment protocol for bitcoin, however, its use in commerce could increase again. This article was retrieved by us on January 08, 2019 9:49 PM. Check out www.theblockcrypto.com for more from this source.
Chainalysis: Bitcoin's largest holders are diverse - The Block
The blockchain analysis company recently released a report analyzing the 32 largest wallets on the Bitcoin blockchain. These wallets represent approximately one million bitcoins (~$6.5b at time of writing). According to Chainalysis, these wallets represent four basic types of bitcoin whales (individuals or entities that hold large amounts of bitcoin): Traders, Miners/Early Adopters, Lost, Criminals. The share of the one million bitcoins from these whales are as follows: While most people believe that whales exacerbate volatility, Chainalysis' data shows the opposite. Instead of whales selling during price declines, they were net receivers of bitcoin during bear markets. This shows that, rather than destabilizing the market, bitcoin whales actually stabilize it. (Source: Chainalysis) This piece was retrieved by us on January 08, 2019 9:49 PM. Have a look at www.theblockcrypto.com for additional posts.
Close to 19% of mined Bitcoin blocks were empty - The Block
According to data from BTC.com, of the current total of 546,237 mined Bitcoin blocks, 101,215 of them were empty blocks. Empty blocks are defined as blocks that only have one transaction: the coinbase reward which allocates 12.5 bitcoins to the miner. Empty blocks are often seen by many in the community as wasted resources, as those blocks could have contained multiple bitcoin transactions. For some miners, however, mining empty blocks may make economic sense. As Bitcoin Magazine explains, "When a mining pool receives a new block from a competitor, it needs to perform a few actions: download the full block, validate its transactions and define a new block to mine on. During this - albeit short -interval, so as not to waste hashing power, they start mining a new block. Only the coinbase transaction is included, so the previous block does not invalidate theirs with a duplicate transaction." By mining an empty block, a miner removes the risk of duplicate transactions in their new block, which would instantly be rejected by the Bitcoin network. If the Bitcoin network rejects a block due to duplicate transactions, the miner that mined the block loses out on the coinbase reward, hence the incentive to mine empty blocks. This information was obtained by us on January 08, 2019 9:47 PM. Have a look at www.theblockcrypto.com for complete listings from this source.
The lending rate of Bitcoin Cash soars on Bitfinex - The Block
Just three days prior to the hard fork, Bitcoin Cash currently has the highest flash return rate out of all supported currencies. Currently, Bitcoin Cash's flash return rate hovers around 0.54% while the maximum rate on Bitfinex of 0.75% has already been reached a few times over the weekend. The flash return rate is the average of all fixed-rate positions, of all terms, weighted by their amount. It is basically the average daily rate on funding that allows traders to adjust the rates automatically. Bitfinex announced on Sunday that it will fully support the upcoming Bitcoin Cash hard fork and said that "at the time of writing, we do not believe that there is sufficient consensus to identify a clear winner in the Bitcoin Cash hard fork". During the Bitcoin fork on August 1, 2017, Bitfinex fully supported and credited all Bitcoin holders with the corresponding balances of Bitcoin Cash. Following the fork in 2017, all the borrowers had to repay Bitcoin Cash to pre-fork Bitcoin lenders. The Block has reached out to Bitfinex to clarify how it will handle the situation this year as it remains unclear. This entry was first seen by us on January 08, 2019 9:43 PM. See www.theblockcrypto.com for more.
Bitcoin Cash hard fork activates, splitting the chain in two - The Block
As of the time of this writing, the Bitcoin Cash blockchain has split between two implementations: Bitcoin ABC and Bitcoin SV. Bitcoin.com, which is in favor of Bitcoin ABC, has mined block 556767 on the Bitcoin ABC chain. Mempool, which is in favor of Bitcoin SV, has mined block 556767 on the Bitcoin SV Chain, according to data from Coin.Dance. 14 blocks have been mined under the new consensus rules, with the Bitcoin ABC chain ahead of the Bitcoin SV chain by one block. It is currently too early to tell which chain will be the dominant Bitcoin Cash chain. Major exchanges have halted trading for bitcoin cash until the chain split is resolved. This piece was first found by us on January 08, 2019 9:43 PM. Visit www.theblockcrypto.com for more.
U.S. Treasury connects two Bitcoin addresses to Iranianransomware scheme - The Block
The Treasury Department?s Office of Foreign Assets Control (OFAC) took actions against two Iran-based individuals, who they believe helped malicious cyber actors exchange bitcoin ransom payments into Iranian rial. OFAC also identified two wallet addresses associated with these individuals. These addresses have processed over 7,000 transactions in bitcoin, worth millions of U.S. dollars, and are now listed on the OFAC sanctions list ? marking the first time the Treasury has added bitcoin addresses to its sanction's list. The ransomware scheme, SamSam, exploits computer network vulnerabilities to gain administrator access to the victim?s servers and files, without the victim?s authorization ? forcing the victims to pay the cybercriminals bitcoins to have their access returned to them. This article was retrieved by us on January 08, 2019 9:42 PM. Visit www.theblockcrypto.com for more from this source.
Bitcoin Halvening Alludes Market Correction Ended
Bitcoin has experienced days of tangled fluctuations since the commencing of this correction. However, the last few months have registered more downwards trend and less assaulting moves. To some people, this might be a significant indication that Bitcoin's correction is finished and that the price is refreshing before starting a fresh cycle. Nevertheless, to other people, this might be an alert that Bitcoin (BTC) is about to drop deeper in the coming months. Both of these contrasting issues have their own advantages and seem to be very reasonable. However, we hope that there are some major metrics that are being inadvertently neglected and not attended by both sides. This post was found by us on January 08, 2019 9:39 PM. See coinidol.com for more similar content.
Bitcoin Dominance Index Achieved 55%, as Crypto Market Hustles to Regain Plausibly
Since registering the deepest daily fall in valuation in recent years, the cryptocurrency market has hustled to recover in a convincing way, forcing the dominance index of Bitcoin up. For the whole of the last day, the dominance index of Bitcoin hit 55%, its peak since December 2017. As Cryptos lost out hugely against the popular Bitcoin, the dominance index of the Crypto soared greatly from 51% to 55% over the last few days. While the cryptocurrency market has suffered a fall below the level of $200 billion to its annual low at $192 billion, Bitcoin and other crypto are still in a deep downward tendency, with little to no support until the mid-$6,000s. This post was first seen by us on January 08, 2019 9:38 PM. You may want to visit coinidol.com for more from this source.
What Happens When Bitcoin Mining Rewards Diminish To Zero
Bitcoin is the most popular cryptocurrency today with millions of transaction taking place every day. It is created by solving complex algorithms with sophisticated computers in an energy-intensive process termed bitcoin mining. However, there are only 21 million bitcoins that can ever mined. Many medium-scale and small-scale miners either ignore the effects of the event of the mining rewards diminishing or see that by the time it does reach zero they could have reached their break-even point or the transaction fees will rise up enough to compensate them. Esteban Smit, Founder Member at Skill Dragon Bitcoin Mining in South Africa, said the value of bitcoin will continue growing and will become like other currencies. This publication was obtained by us on January 08, 2019 9:38 PM. You may want to visit coinidol.com for more similar content.
Anonymity Returns to Crypto with Introduction of Bitcoin Tumbler BestMixer.io
After noticing a dearth of tumblers providing true anonymity to users, BestMixer.io has thrown its hat in the ring with game-changing service. BestMixer.io has announced the official launch of their bitcoin tumbler, coming at a time when the privacy of cryptocurrency investors is being challenged around the world. In an affront to the efforts of hackers and blockchain forensics startups such as Chainalysis who work to expose the link between crypto users' real identities and their blockchain-based wallets, BestMixer.io has created a special pool system which guarantees the untraceability of coins mixed using their service. This item was first seen by us on January 08, 2019 9:38 PM. Check out coinidol.com to find more similar content.
A shopping center in Slovenia aims to become a Genuine Bitcoin City
The largest Slovenian shopping mall, located in Ljubljana, will be transformed into a ?Genuine Bitcoin City?. All the 500 shops in the mall will be required to accept Bitcoin as a payment option. ?The first of its kind in the world to provide its visitors, consumers and business partners with an ecosystem that will develop and integrate advanced technologies based on state-of-the-art approaches (blockchain, AI, VR [Virtual reality], AR [Augmented reality], ML [Machine Learning] and the world of cryptocurrencies),? BTC company said. The shopping and business center of 475,000 square meters will host the biggest Bitcoin hub on the country?s financial market. Eligma, a financial technology startup, was asked to design a cryptocurrency transaction system called ?Elipay? for all shops in the mall to conduct payments using BTC solely. This entry was discovered by us on January 08, 2019 9:37 PM. You may want to visit coinidol.com for more similar content.
How Soon Will Bitcoin Price Reach $800
Bitcoin reaches its highest price level since the attack on Bitfinex in August 2016. On November 1, the Bitcoin price reached $732. Today, November 2 the price for Bitcoin is about $725. The Bitcoin price level reached one of its highest levels since 2013 between two major events: the Bitcoin Block Halving of 2016 on June 9 and the Brexit referendum on June 23, 2016. On June 21, BTC reached $764, which is its highest level in 2016. However, the results of the referendum had a negative impact on the price movement and it went down by 8%. Starting August 2016, Bitcoin?s price faced another sharp fall due to the security breach at Bitfinex. 119,756 Bitcoins having been stolen. The attack on one of the largest Bitcoin exchanges dragged BTC down to the level of $553. Since then, the Bitcoin price has moved in a sideways trend for almost 3 weeks. This item was first seen by us on January 08, 2019 9:37 PM. Have a look at coinidol.com for complete listings from this source.
600 Computers Seized By Chinese Police in Tianjin Over Bitcoin Mining
Police in north China?s Tianjin municipality have expropriated 600 Bitcoin mining computers after a local power grid reported faulty electricity consumption. The Local Police on Tuesday said that eight high-power fans were captured and that it was the biggest power theft case in recent years. Five people are currently under investigation and one has been placed in custody in the Tianjin case. The power company that was in charge of supervising and monitoring the recent sudden increases in line loss on one electricity, up to 28 percent at the pinnacle and this occurrence is usually closely related with the increased load current. This piece was first seen by us on January 08, 2019 9:36 PM. Check out coinidol.com for more.
Free Virtual Bitcoin Debit Card from Wirex App
London, July 14, 2016 -- Wirex Limited has availed its popular bitcoin debit card for free for worldwide users. From July 2016 onwards, free virtual cards denominated in either USD, GBP or EUR can be redeemed from Wirex app, which is available for Android and iOS users. The move is expected to benefit new and existing Wirex/E-Coin users with no existing cards in accounts. Upon registration or login in the Wirex app, users can order and receive bitcoin debit card (virtual; worth $3) directly from the app. Wirex has also posted a text tutorial and video tutorial on how to redeem the free card. ?We want to make it easy for the bitcoin community to spend bitcoins online, for free,? said Pavel Matveev, co-founder of Wirex (previously E-Coin), ?Simply order the virtual card through Wirex app and now users can spend bitcoins anywhere Visa and Mastercard are accepted. We?re happy to give a lot more spending power to bitcoin users.? This publication was first found by us on January 08, 2019 9:36 PM. See coinidol.com for complete listings from this source.
Bitcoin and Altcoin Price Analysis: July 6, 2016
As we expected, this week the price of Bitcoin and altcoins remained stable. A sideways trend is typical for most cryptocurrencies at the moment. Despite the fact that the world market is in a state of uncertainty, cryptocurrencies hold their positions. The beginning of July hasn?t brought any significant changes for the Bitcoin price. The sharp rise up to the level of $764 on the eve of Brexit speaks of investors trust in Bitcoin. Today the level of $665 is a support level, while $690 is a resistance level. Don?t forget that in three days we will have a two-times reduction in the reward for block mining. Considering this, high volatility of the Bitcoin price is expected. This item was retrieved by us on January 08, 2019 9:35 PM. You may want to visit coinidol.com for more.
BitJob Partners with Bitcoin Brains for ATM Access
The blockchain student jobs marketplace aims to help place crypto ATMs on University campuses around Canada. BitJob, the first global marketplace for student employment to be built on the blockchain, has announced a new collaboration with Canadian bitcoin brokerage Bitcoin Brains. The partnership will leverage the student community, which BitJob aims to engage in cryptocurrency-related employment, to expand the country?s network of bitcoin ATMs and introduce a new generation of people to the benefits of digital cash. The mission of BitJob, which is currently holding its token sale, is to facilitate a new peer-to-peer labour market for students around the world ? whilst simultaneously stimulating interest for, and building skills around, blockchain and its associated suite of new technologies. This entry was found by us on January 08, 2019 9:35 PM. Browse coinidol.com for more from this source.
Bitcoin Vendors Increase in Europe and a new Application Emerges for Cryptocurrencies
Bitcoin is gaining acceptance not only among consumers but also with retailers in countries all over the world. Data collected from coinmap.org reveals Romania is one example which has 47 vendors in 17 localities who accept Bitcoin transactions, most being in the vicinity of Bucharest. There are fifteen vendors in Bucharest-Ilfov which are accepting Bitcoin transactions but the other counties also accepting Bitcoin in exchange for goods and services are Contanta and Cluj (four vendors each); Dolj and Bacau (three vendors each); Brasov (two vendors each); and Alba, Hunedoara, Sibiu, Prahova, Buzau, Galati, and Iasi (one vendor each). Prague is the European city which accepts the most Bitcoin with 148 vendors according to Forbes. This posting was found by us on January 08, 2019 9:34 PM. Check out coinidol.com for more similar content.
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