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Canadian Firm Hut 8 Reports Bitcoin Mined in Q1 Declined 54% Due to Price Volatility
13.5.2020
On Monday, Hut 8 Mining reported that first-quarter revenue rose 5% to $9 million from $8.59 million a year ago after the amount of bitcoin (BTC) extracted plunged sharply. Quarter-on-quarter, revenue fell 14%. For the three months to March 31, 2020, the Canadian bitcoin firm said it mined 1,116...
Halving Sell-Off Temporary, BTC to Hit $20,000 by Year End, Says Billionaire Investor Novogratz
13.5.2020
Bitcoin (BTC) may not have pumped at the scale expected by many halving optimists, but Wall Street billionaire Michael Novogratz insists that the price will hit $20,000 by year-end. The Galaxy Digital founder and chief executive officer on Monday told CNBC that bitcoin’s surge was inevitable...
Buying Corporate Bonds and ETFs: US Federal Reserve Continues to Bailout ‘Too Big to Fail’
12.5.2020
The U.S. Federal Reserve has continued its schemes of monetary easing and funding a number of private banks during the Covid-19 outbreak. On Monday evening, the Fed revealed it would be buying corporate bonds and exchange-traded funds using the entity’s Secondary Market Corporate Credit...
Bitcoin Cash Upgrade 3 Days Away – New Opcode Support, Chain Limit Extension, Sigchecks
12.5.2020
On May 15, the Bitcoin Cash (BCH) blockchain will be upgraded and there will be at least three new features added to the longest chain. The upgrade in three days is being discussed fervently by the community, because it follows the recent and controversial Infrastructure Funding Proposal (IFP)....
JPMorgan Chase Starts Accepting Bitcoin Businesses for Banking Services
12.5.2020
JPMorgan Chase has reportedly started providing banking services to bitcoin businesses, with the first two clients being Coinbase and Gemini exchanges. JPMorgan also recently recommended having cryptocurrency in investment portfolios as its CEO, Jamie Dimon, changed his mind about bitcoin. JPMorgan...
Up to 30% of Bitcoin Miners Close Shop as Business Turns Unprofitable After Halving
12.5.2020
About a third of Bitcoin (BTC) mining firms may already be switching off their machines as the business becomes unprofitable due to a reduction in mining rewards. The third Bitcoin halving – consummated earlier today – reduced supply of the pioneering cryptocurrency, cutting the bonus...
Bitcoin’s Third Halving Complete: Reward Cut Surprisingly Faster Than Previous Time Estimates
11.5.2020
The Bitcoin blockchain has experienced its third block reward halving on May 11, 2020, at approximately 3:21 p.m EST, even though quite a few countdown clocks estimated that the halving would occur on May 12. Bitcoin miners now get 6.25 BTC per block rather than the 12.5 BTC they acquired before...
Bitcoin Transaction Costs Soar 400% Amid Halving Hyperbole
11.5.2020
The average transaction cost for Bitcoin (BTC) soared 414% in the days before the halving, peaking at $3.19 on May 8, from as low as $0.62 on April 26. This is the highest price bitcoiners have paid for a transaction on the network in ten months, according to data from Bitinfocharts. Fees are paid...
Jury Trial Scheduled for Billion Dollar Bitcoin Lawsuit Against Craig Wright
11.5.2020
Florida’s Southern District Court has been dealing with the Kleiman v. Wright case for well over two years and now the lawsuit is finally going to trial. A jury trial is set for July 6, 2020, in the Miami Division courthouse before Judge Beth Bloom. Meanwhile, Craig Wright,...
Exchange Crypto with 0% Fees in Lumi Wallet
11.5.2020
Everybody’s sick of commissions. Lumi Wallet is renouncing them, introducing 0% Fees on all in-wallet operations. All you need to get rid of hidden fees is the Lumi Wallet app and the promocode – BTCNEWS. Why is Lumi doing this? Decentralized finance has undeniable advantages over fiat...
Bank of England Predicts Worst Economic Crash in 300 Years for UK
10.5.2020
The Bank of England has predicted the worst economic crash since the Great Frost of 1709. Economists are less optimistic than the central bank about the rate of recovery for the UK economy. “Current conditions are unprecedented in our lifetime and all forecasters are struggling to make...
Quantitative Hardening: Dissecting the Third Bitcoin Halving, 3 Key Data Points to Watch
10.5.2020
In a touch more than 24-hours time, the third bitcoin halving will take place on May 12, 2020, on or around 9:50 p.m. ET. Miners will see their revenues slashed in half from 12.5 coins to 6.25 BTC after the halving and speculators wonder what will happen after the event. Currently, according...
Bitcoin Mining Markets Heat Up: Ebang’s $41M Deficit, Bitmain’s Alleged 2020 Revenue
10.5.2020
The Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status....
Chinese Court Rules Bitcoin Is Asset Protected by Law
9.5.2020
A court in Shanghai, China, has reportedly ruled that bitcoin is an asset protected by Chinese law in a case that has dragged on for years. The case involves a theft of two different cryptocurrencies, one being bitcoin, from an American. The defendants argued that bitcoin was not recognized under...
Devon Brewer: Rediscovering the Golden Rule
9.5.2020
The Golden Rule may be the most basic moral approach to dealing with others. It seems universal across cultures and religions. The Golden Rule is instinctive. We all know it, even as children without education. I like the negative form of the Golden Rule the best. One of the earliest written...
Award-Winning Filmmaker Torsten Hoffmann Launches Bitcoin Documentary Cryptopia
9.5.2020
This week filmmaker Torsten Hoffmann launched the cryptocurrency-infused documentary “Cryptopia: Bitcoin, Blockchains and the Future of the Internet.” Cryptopia discusses the powerful economy and flourishing ideas that stemmed from Satoshi’s invention through the eyes of some...
Cointext CTO Reveals a New Protocol That Aims to Bolster a Censorship-Resistant Economy for Bitcoin Cash
9.5.2020
On May 7, the Cointext CTO and cofounder of Countermarkets, Vin Armani revealed a new project he’s been working on called “Signal, Watch, and Pay Protocol” (SWaP). Armani’s published specification and reference code of SWaP indicates that the platform allows “onchain...
Bitcoin Suisse Sells 20% Stake to Raise $47 Million: Crypto Valley Broker Aims To Expand Into Banking
8.5.2020
Crypto valley firm Bitcoin Suisse has announced plans to sell a 20% stake in the company. The sale is expected to raise 46 million Swiss francs ($47.38 million). Bitcoin Suisse said it intends to use the money to expand its portfolio to banking services in Switzerland and Liechtenstein, according...
Popular Hedge Fund Manager Paul Tudor Jones: ‘Bitcoin Reminds Me of Gold Back in 1976’
8.5.2020
Hedge fund manager and investor, Paul Tudor Jones, discussed his opinion in regard to the crypto asset bitcoin on Thursday, saying that it reminds him of the part gold played back in the ‘70s. Jones also disclosed that his fund Tudor BVI has a percentage of Bitcoin futures products as well...
Coinshares Acquires Gabi Trading: New Unit Traded $3 Billion Worth of Crypto in 2019
8.5.2020
Coinshares on Thursday launched its trading business, Coinshares Capital Markets (CSCM), reporting that the unit traded over $3 billion worth of cryptocurrency in 2019 and $1.5 billion during the first quarter of 2020. The UK digital asset manager is basically rebranding Gabi Trading, a business...