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Mining Blog & Mining News

Mining Blog & Mining News

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It's 2021 and central bankers still can't figure out what to make of Bitcoin (BTC). Although many of them have dismissed the asset as a highly speculative bubble in the past, the cryptocurrency keeps growing in terms of price, general adoption, and a variety of other metrics. Due to the massive increase in the bitcoin price over the past year or so, central bankers have, once again, been sharing their bad takes on Bitcoin with the general public, while also oftentimes simultaneously touting the...
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What a week! We left the green July behind, while market sentiment made a jump led by BTC, ETH, and BNB. And then, Ethereum finally arrived to London, the burning began, and we looked into what EIP-1559 does and does not do. One old presentation by Vitalik Buterin brought up an unresolved Ethereum issue again, and we learned that MEV harms Ethereum users and it may be here for some time. Pantera CEO trimmed his earlier BTC price forecast for 2021, saying that ETH will be outperforming BTC. Then,...
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Following its latest and highly-anticipated network upgrade, Ethereum (ETH) is currently burning some USD 8m worth of ETH per day, and has already burned nearly USD 12m. Meanwhile, there seems to have been plenty of confusion among miners on the first day. A total of ETH 4,260 have been burned at the time of writing, with the number increasing each minute. Per the current price of ETH, this is USD 11.83m disappearing in virtual smoke. Furthermore, the current burn rate per Etherchain is ETH 2.0...
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Mayhem appears to have broken loose in the world of American politics, and the crypto community may be caught in the eye of the storm, as now, proof-of-stake (PoS) networks might be left in danger at a time when Ethereum (ETH) is moving towards PoS. A controversial infrastructure bill being moved with alacrity through the parliamentary system contains a number of clauses that pertain to crypto players and how they are taxed. As previously reported, most of these pertain to the legal definition o...
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Fees on Bitcoin (BTC) network have dropped more than 90% in a month, with industry insiders noting that they are low compared to what has historically been seen - but that they will now start gradually rising as a series of mining difficulty adjustments that aimed to balance out the China crackdown effects has ended. Per BitInfoCharts.com, Bitcoin median transaction fee in USD (7-day moving average) is down 93% in a month, to USD 0.33 on August 4 from USD 4.46 seen on July 4. Recently, Stephen...
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A powerful young Uruguayan entrepreneur and senator has launched a bid that might ensure that businesses in the country can legally accept crypto as payments. Juan Sartori, 40, is the founder of the Union Group conglomerate and the co-owner and director of the British football club Sunderland AFC. He also won a seat in the Senate in February last year. The senate’s committees will consider the new bill, which Sartori unveiled this week. The measure also outlines how Uruguay would regulate the us...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. _ Adoption news Digital asset marketplace Bakkt Holdings has announced that they have partnered with quick-service restaurant Quiznos to launch its first physical location pilot enabling Quiznos customers to pay with bitcoin (BTC). The pilot will be available at select locations across the Denver market from mid-August through the Bakkt App.Globa...
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Major crypto exchange Coinbase has stopped bitcoin SV (BSV) trading following the latest in a string of attacks on the network. "Due to the 51% attack that has occurred on BSV today we are stopping all BSV trading," the exchange announced on Tuesday. Bitcoin SV suffered a 51% attack on Tuesday morning, when "some serious hashing power was unleashed on the network," according to Lucas Nuzzi, network data product manager at crypto intelligence firm Coin Metrics. Nuzzi said that there had been an...
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In the light of Poland’s looming crypto exchange regulations, a group of lawmakers has filed a request for information to the country’s Ministry of Finance, asking whether the ministry plans to facilitate making bank deposits for Polish crypto companies, and if it aims to develop regulations for stablecoins in the near future. “In an increasing number of countries, cryptocurrencies and the activities that are related to them are regulated,” the MPs said. “Attempts to put order into this area hav...
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There are some things that grab the attention of the Cryptoverse for months on end, whether they deserve to or not. One thing that will bring an important change to Ethereum (ETH), and which has been a topic of discussion since last year, is the highly anticipated Ethereum Improvement Proposal, or EIP, 1559. With EIP-1559 fast approaching, it's a good time to remind ourselves what it is, what it will do - but also what it will not do, despite what some of the ETH fans are claiming. What and whe...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. _ Adoption news Proclaiming bitcoin (BTC) legal tender reflects El Salvador’s weakened governance and has raised tensions with international partners, including the United States, as well as jeopardized progress toward an agreement with the International Monetary Fund (IMF), said major ratings agency Moody’s. They added that this means that risks...
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Nick Sears is only 19-years-old, but in just two years he has managed to build himself a career as a full-time bitcoin (BTC) miner. He reportedly makes USD 54,000 a year, turning down college and living in a room located inside a cryptocurrency mining farm. Sears, who was 17-years-old when he took part in building the farm, told CNBC he occupies a sound locked room inside a farm in Dallesport, Washington, and is responsible for ensuring a smooth operation of 4,500 Bitmain and Whatsminer machine...
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Heavyweight critics are gunning for a controversial new bill that they claim will see the United States “essentially abandon” the “fintech revolution” if passed into law. The bipartisan measure, which addresses a range of infrastructure-related measures, could raise up to USD 28bn from crypto investors, as reported last week. The bill got the green light to advance, but met vehement resistance from crypto industry insiders, with one quipping acidly: “They’ve ruined their money so now they’re com...
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Agata Soroko, PhD Candidate, Faculty of Education, L’Université d’Ottawa/University of Ottawa. Shortly after the COVID-19 pandemic threw the global economy into a crisis in March 2020, I wrote an essay expressing my hope that the unfolding financial collapse wouldn’t be used to justify a push for more financial literacy education in schools. But this has since happened. In May 2020, the Organization for Economic Co-operation and Development (OECD) announced its Program for International Studen...
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One of the hottest debates in Ethereum (ETH) right now is about miner extractable value (MEV). This is the practice of miners ordering (or being paid to order) transactions in such a way as to front-run or back-run trades made by other users. MEV was documented as early as April 2019 in a paper authored by researchers (predominantly) from Cornell University, who wrote that “MEV poses a realistic threat to Ethereum today.” Since then, the practice has only become more widespread, particularly wit...
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Two of Japan’s biggest crypto players – the financial giants the SBI and Monex groups – have posted high crypto profits in their second-quarter reports. Both firms have a range of diverse crypto interests, both at home and abroad. SBI operates two domestic crypto exchanges: SBI VC Trade and the TaoTao platforms, in addition to an international mining arm named SBI Crypto and the UK-based liquidity provider B2C2. It also operates a number of joint-venture initiatives with America’s Ripple. Monex,...
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Chinese bitcoin (BTC) miners are reportedly preparing to flock to Paraguay in their droves – with reports claiming that there could be half a million rigs online in the nation in the next three years if regulators do not block miners’ progress, with some industrial players already setting up shop in the South American nation. Per Criptonoticias, “at least eight” Chinese “financial entities” had expressed a strong interest in “transferring their mining operations to Paraguay,” according to the Pa...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. _ Investments news Starting Monday, 4,000 of Germany’s Spezialfonds will be allowed to invest up to 20% of their portfolios in cryptoassets. These special funds, available to institutional investors only, manage around EUR 1.8trn (USD 2.1trn) worth of assets. Deutsche Bank AG’s asset manager DWS Group is monitoring developments, but is not curren...
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Bitcoin (BTC) mining difficultly is expected to rise this Saturday, after four consecutive drops, cutting into the growing profit margins of BTC miners. Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, might go up around 5%, per the current estimations by the mining pool BTC.com. This would bring it back up from the 13 T level, where it had dropped during the previous adjustment, to 14.41 T - still far from the all-time high of 25.05 T. Also, this would ...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Mining news Crypto platform Choice and Compass Mining, a marketplace for Bitcoin (BTC) miners, said that their US-based clients can now mine bitcoins directly to their individual retirement accounts (IRAs) "without ever triggering a taxable event." "By mining in a Choice account, Compass miners can avoid income taxes on their mining revenue in t...
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The estimated global crypto population doubled in four months, and it reached 221m as of June, according to calculations by major crypto platform Crypto.com. "In comparison, it took nine months to reach 100 million from 65 million" since they began tracking these numbers. While bitcoin (BTC) drove growth in January and February, altcoin adoption in May – likely fueled by the influx of new users who were interested in coins like dogecoin (DOGE) or shiba token (SHIB) - led to a massive surge in c...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investments news Major Bitcoin miner Genesis Digital Assets has announced a USD 125m round of equity funding to purchase equipment and build new data centers in the United States "and nordic region." The funding round comes from Kingsway Capital, a UK-based private equity fund focused on frontier emerging markets with over USD 2bn in assets unde...
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Horizon Kinetics, a major independently owned and operated investment adviser, is betting on cryptocurrencies such as bitcoin (BTC) as a protection against rising inflation for their investors. Morningstar describes Horizon Kinetics as one of this year’s best performing US fund managers and a USD 7bn contrarian investment, which has three of the top ten best-performing mutual funds this year (a 48%-59% return to July 26). Horizon Kinetics' co-founder and Managing Director Peter Doyle told the F...
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One of the most often used metrics in the decentralized finance (DeFi) industry, total value locked (TVL), is "a deceptively complicated metric hiding under a benign name," according to crypto intelligence firm Coin Metrics. What this metric should be measuring is the total size of a levered market, and that figure "can be misleading as it is inflated by a leverage multiplier, carries high price sensitivity, and is far from holistic," the analysts at the firm said. According to them, due to th...
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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Tokenization is one of the proponents of the blockchain which will likely stand the test of time. The act of tokenizing something, means giving it representation on a blockchain. Anything can be tokenized, from wine, to cars, to mortgages to ownership in artwork. Holding a token that is backed up by a physical asset, gives the holder actual ownership ov...
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As El Salvador is preparing to make bitcoin (BTC) legal tender this September, the International Monetary Fund (IMF) issued another warning, stressing that this move "is an inadvisable shortcut." While governments need to "step up" to provide the benefits offered by the technology underlying cryptoassets, as well as to leverage new, digital forms of money, doing so via adopting an actual crypto could be dangerous, because they need to preserve stability, efficiency, equality, and environmental s...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. _ Adoption news Vlad Tenev, CEO of the popular trading app Robinhood, said that crypto is vital to the app’s future and that a wallet may be in the works, according to the Business Insider. He added that users can expect a beta release of new crypto features “at some point,” but did not elaborate any further.43% of surveyed Singaporeans said they...
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Bitcoin (BTC) mining is on the move. Once the preserve of China and its vast stores of energy, it’s now increasingly setting up elsewhere in the world, with its migration accelerated by the recent governmental crackdown in the Asian nation. As reported, the Cambridge Centre for Alternative Finance, which created the Cambridge Bitcoin Electricity Consumption Index (CBECI), now estimates that China accounted for 46% of all Bitcoin mining as of April, down from 75% in September 2019. What’s interes...
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news Twitter CEO Jack Dorsey confirmed to investors that Bitcoin (BTC) will be a “big part” of the company’s future, as he sees opportunities to integrate the cryptocurrency into existing Twitter products and services. He added that it could help the company move faster in terms of its product expansion, while explaining that BTC is the...
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Disclaimer: The text below is a press release that was not written by Cryptonews.com. Are you a crypto enthusiast? Are you looking for an easy way to buy bitcoin or other cryptocurrencies? Then, this amazing opportunity is for you to earn FREE coins while you buy cryptocurrencies on Remitano! Leading global P2P crypto exchange platform, Remitano is launching a bonus program for new users in Pakistan. Starting from the 19th of July 2021 to the 18th of August, Remitano will introduce a special we...
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