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Bitcoin Difficulty Takes a Dip: Network’s First Downward Adjustment in 56 Days Signals Easier Mining Ahead
29.6.2023
On June 28, 2023, Bitcoin saw its first downward difficulty adjustment in 56 days, or since May 4, with a decline of 3.26%. This modification lowered the network’s difficulty to 50.65 trillion from its record high of 52.35 trillion on June 14. Bitcoin Mining Gets a Breather: Difficulty...
Bitcoin’s Average Transfer Fee Surged 92% in 4 Days With More Than 330,000 Unconfirmed Transactions in the Backlog
22.6.2023
With 13.15 million ordinal inscriptions on the Bitcoin blockchain, demand has continued to keep network transfer fees high, as the average fee to transact onchain is 0.00012 BTC or $3.54 per transaction. Moreover, since June 18, 2023, average fees on the Bitcoin blockchain have increased by more...
Bitcoin Fees Decrease, But Over 257,000 Pending Transactions Await Confirmation
5.6.2023
Although the Bitcoin blockchain’s average transaction fees have decreased since surpassing $30 per transfer on May 8, there are still over 257,000 pending transactions awaiting confirmation. Furthermore, from May 1 onwards, the network has successfully verified anywhere from 355,000 to over...
Average Bitcoin Transaction Fees Skyrocket to $19.20 per Transfer as Over 440,000 Transactions Remain Unconfirmed
8.5.2023
Bitcoin transaction fees have surged significantly in the past 24 hours, with the average fee reaching $19.20 per transfer. The increase in fees can be linked to a backlog of transactions trapped in the mempool, as over 440,000 unconfirmed transactions are currently awaiting confirmation. Block...
Terraform Labs Co-Founder Do Kwon Arrested in Montenegro, Says Interior Minister
23.3.2023
According to Montenegro’s interior minister Filip Adzic, Terraform Labs co-founder Do Kwon was apprehended at Podgorica airport allegedly bearing falsified documentation. Adzic added that investigators are “waiting for official confirmation of his identity” after Montenegrin police detained...
Bitcoin’s Blockchain Growth Accelerates With Trend of Ordinal Inscriptions
28.2.2023
The Bitcoin blockchain has 40.49 gigabytes (GB) to go until it reaches half a terabyte (TB), and with the recent trend of Ordinal inscriptions, it’s likely to get there faster. The average block size reached a high of 2.52 megabytes (MB) on Feb. 12, 2023, but block sizes have subsided...
US Federal Trade Commission Investigates Marketing Schemes of Crypto Firm Voyager
22.2.2023
According to a court document filed recently in the Voyager Digital bankruptcy case, the U.S. Federal Trade Commission (FTC) is investigating the marketing of the crypto firm. Like the U.S. Securities and Exchange Commission (SEC), the FTC has objected to Binance US purchasing Voyager’s...
Key EU Parliament Committee Approves MiCA Deal to Regulate Crypto
12.10.2022
European Parliament’s economic committee has backed the adoption of the comprehensive Markets in Crypto Assets (MiCA) regulation. It has also supported the introduction of rules for tracing cryptocurrency transfers, part of the latest EU anti-money laundering push. European Union’s MiCA Crypto...
How to modify or cancel a pending Ethereum transaction
17.10.2021
A stuck or pending Ethereum transaction can be canceled or modified using two methods: in-application cancellation and setting a custom nonce
Poland Confirms Arrest of Former Wex Exchange Executive in Warsaw
21.9.2021
Reports of the detention of Dmitry Vasiliev, ex-head of the bankrupt cryptocurrency exchange Wex, have been confirmed by authorities in Poland. The former executive of the platform, allegedly involved in the theft of funds worth millions of dollars, faces possible extradition to Kazakhstan....
Kenya Based Technology Firm Switches to Pancakeswap, Cites High Gas Fees on Uniswap
17.5.2021
In its bid to help users avoid high gas fees on Uniswap, a Kenya-based fintech firm, UTU, recently launched a liquidity pool on the decentralized exchange (dex), Pancakeswap. This launch enables prospective UTU coin buyers to acquire the token “with low fees and fast confirmation...
Cashing Out Bitcoin Using ATMs: Popular Youtuber Successfully Turns $16K in BTC Into Cash
26.1.2021
On January 23, 2021, the popular Youtuber Mambafx published a video of himself withdrawing $16,000 in cash from bitcoin ATMs. The video shows how it took multiple bitcoin ATMs to complete the process but by the end of the 17-minute film, Mambafx withdrew over $16k by selling bitcoin to...
$5.6 Million Double Spent: ETC Team Finally Acknowledges the 51% Attack on Network
6.8.2020
The Ethereum Classic (ETC) blockchain network lost $5.6 million to one miner following a 51% attack initially thought to be a chain split. During the attack, the offending miner managed to double-spend 807,260 ETC ($5.6 million) after spending 17.5 BTC or $200,000 (at time of writing) to acquire...
Travelbybit to Drop Bitcoin Payments After Viral Double Spend Video
20.12.2019
On December 18, Bitcoinbch.com published a video explaining how easy it is to double spend BTC transactions in the wild. Not long after the film was released, the payment processor Travelbybit announced it would be removing both BTC and BCH payments for over 400 Australian merchants. Unfortunately...