Mining Blog & Mining News

Blog • 15 December 2020, Tuesday, 05:00

Billionaire Turns to Bitcoin Mining To Help His Troubled Business

The Ukrainian oligarch and former Dnipropetrovsk Oblast governor Ihor Kolomoisky had reportedly launched a crypto mining operation at a troubled steel processing factory in the United States – and he may only just be getting started. Per Radio Liberty, “current and ex-employees” of the plant, CC Metals & Alloys (CCMA), located in Kentucky, has switched off its furnaces – once used to produce alloys such as ferrosilicon. But the report’s authors and its anonymous sources claim that the plant’...

Blog • 14 December 2020, Monday, 23:00

Venezuelans Use Blockchain Tech in Unofficial Anti-Maduro Referendum

Millions of Venezuelans have reportedly taken to a blockchain-powered platform and the crypto community’s favorite chat app to vote in an unofficial referendum. The poll was orchestrated by Venezuela’s opposition leader Juan Guaidó, a politician who has been championed by the United States. Guaidó boycotted recent parliamentary elections claiming widescale fraud. The elections were heavily criticized by Western governments and saw the ruling Nicolás Maduro regime finally take control of the Nati...

Blog • 13 December 2020, Sunday, 09:00

Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Chainlink Price Predictions for 2021

2020 may be a hard act to follow for the cryptoasset market. Beginning on January 1 with a total market capitalization of around USD 190bn, the entire market has grown over USD 560bn in December. This increase has unsurprisingly been paralleled by the performances of individual cryptoassets, with bitcoin (BTC) rising around 150% over the same time frame, and with ethereum (ETH), XRP and chainlink (LINK) rising by around 330%, 190% and 590%, respectively. Assuming that the above coins simply rep...

Blog • 12 December 2020, Saturday, 09:00

Crypto Exchanges to Spend 2021 Focusing on DeFi, UX, and New Services

After cryptoassets themselves, exchanges are arguably the most important part of the crypto ecosystem. Without exchanges, individuals would have fewer means for buying and selling crypto, which in turn wouldn’t benefit from the impressive price rises that have driven so much investment into the space in 2020. But while 2020 has been a pretty good year for exchanges, what can we expect from them in 2021? According to various trading platforms speaking with Cryptonews.com, we’re likely to see a nu...

Blog • 11 December 2020, Friday, 21:00

Remarks to The Federalist Society’s Capital Conversations - Hester M. Pierce

This is a speech by Hester M. Peirce, pro-crypto commissionaire at the US Securities and Exchange Commission (SEC), given to the Federalist Society on December 10, 2020. Thank you, Dean [Reuter]. I have to start with my standard disclaimer, which is that my views represent my own views and not necessarily those of the Securities and Exchange Commission or my fellow Commissioners. Last week, the nation lost economist Walter Williams. Dr. Williams, in addition to his academic research, spent his ...

Blog • 11 December 2020, Friday, 13:00

Short-lived Bitcoin Trap, Ethereum on Wordpress, IOTA's Drama + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Trading news It appears that large traders, whales, and institutions that accumulated bitcoin (BTC) around USD 10,000 levels decided to take profits during this rally, while retail traders mostly kept adding to their positions during the price surge, OKEx said in their latest report. The result of this could be that retail traders will be trapped...

Blog • 11 December 2020, Friday, 11:00

New Regulatory Lemons Await Somewhere Between DeFi & CeFi

While local and global regulators are yet to target the nascent DeFi (decentralized finance) world, some industry players warn that the interaction between DeFi and CeFi (centralized finance) sectors will bring even more unanswered questions. There is a constant interaction between the DeFi and CeFi worlds, e.g., industry players are taking loans from centralized institutions and then interacting with (more or less) decentralized projects. “Who is responsible in case there is an issue with the ...

Blog • 11 December 2020, Friday, 07:00

Business Giants Invest USD 60m in Blockchain-powered Payment Firm Chai

A group of South Korean and Japanese business giants including Hanhwa Investment & Securities, SoftBank and SK have joined more established blockchain investors to complete a Series B investment round worth over USD 60m in South Korean firm Chai, the provider of a blockchain-powered payment gateway. Chai completed a USD 15m Series A in February this year. The firm is a partner of stablecoin issuer Terra, and makes use of Terra’s blockchain and stablecoin offerings to, it claims, offer lower ...

Blog • 10 December 2020, Thursday, 15:00

The Case For Investing In Crypton (CRP) Cryptocurrency, A Private Coin Of The Utopia Ecosystem

Disclaimer: The text below is a press release that was not written by Cryptonews.com. At a time when bitcoin is trading near historical all-time highs, investors are scrambling to find the next big idea in the cryptocurrency universe. Certainly, there is no lack of options for investors to choose from but investors are encouraged to take a close look at the Crypton (CRP) cryptocurrency because of its many unique advantages. What Is Crypton? Crypton is considered to be one of the most recent impo...

Blog • 10 December 2020, Thursday, 13:00

JPMorgan's Coin In Action, ECB Money Printer Heats Up, Metamask in DeFi + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Banking news US-based major investment bank JPMorgan said it completed a live, blockchain-based intraday repo transaction between JPMorgan’s broker dealer and banking entity, using an in-house developed blockchain application which supported "instantaneous settlement" and maturity of the transaction in hours, as opposed to days. Both collateral a...

Blog • 09 December 2020, Wednesday, 05:00

DeFiChain Announces Yield Farming Launch and DEXember 100X Promotion

Disclaimer: The text below is a press release that was not written by Cryptonews.com. London, December 09, 2020 — DeFiChain, a blockchain specifically dedicated to decentralized financial applications, has today announced the official launch of liquidity mining (known also as yield farming) on their decentralized exchange – DeFiChain DEX. As a promotion to introduce the yield farming launch, DeFiChain has also launched the DEXember campaign – providing a full month of bonus liquidity mining rew...

Blog • 07 December 2020, Monday, 23:00

Power Substation Burns out as Abkhazia Bitcoin Mining Woes Worsen

Abkhazia’s crypto mining-related mayhem is hitting melting point – literally – with a power substation overheating and finally burning with legit and illegal miners alike refusing to slow down their efforts. As previously reported, anarchic scenes have become commonplace in the de facto South Caucasus state, with the parliamentary speaker recounting the tale of a group of villagers who took the law into their own hands, turfing out miners. Blackouts and brownouts have brought entire communities ...

Blog • 07 December 2020, Monday, 15:00

Taproot, One Of Bitcoin's Biggest Upgrades May Be Coming Next Year

Taproot, one of the most anticipated Bitcoin (BTC) upgrades, and its largest alteration since 2017, expected to improve privacy, scalability, flexibility, and speed of the network - may be coming in a matter of months. Pierre Rochard, Bitcoin evangelist and strategist at crypto exchange Kraken, suggested that the next year is the one to look forward to for all those waiting to see this protocol upgrade. Taproot activation is probably going to happen in 2021.Bitcoin 2.0 https://t.co/xi8CAvfThA— ...

Blog • 07 December 2020, Monday, 11:00

Back to Bits – Bitcoin OG Says It’s Time to Say Sayonara to Satoshis

A leading cryptographer, the inventor of hashcash, which is used in the Bitcoin (BTC) mining process, says it is time to call time on satoshis, the units that make up a bitcoin. With BTC prices soaring sky-high in recent weeks, the CEO of the blockchain technology firm Blockstream, Adam Back, has taken to Twitter (where else?) to opine that satoshis (or sats for short) have had their day. “Bitcoin is too expensive, but sats are too many, sound cheap and confusing.” Back, who was one of the first...

Blog • 07 December 2020, Monday, 05:00

Venezuela Paying Iranian, Turkish Companies in Bitcoin – Report

With crypto prices still sky-high, it appears that Venezuela’s ruling Nicolás Maduro administration has been looking to make hay while the sun shines – and is already starting to pay companies in Turkey and Iran in bitcoin (BTC), making use of a large state-owned stash of BTC and ethereum (ETH), with crypto prices still soaring. Per a report from Spanish publication RunRun.es, unnamed “sources at the Central Bank of Venezuela” have stated that “payments to companies from allied countries such as...

Blog • 04 December 2020, Friday, 09:00

CCB-backed Blockchain-powered Bond Issuance Saga Takes a New Turn

There appears to have been another twist in the tale of the China Construction Bank (CCB)’s Malaysian branch and its aborted launch of blockchain-powered bonds that were set to be tradeable for bitcoin (BTC) via a Hong Kong-based exchange. Just weeks after CCB pulled the plug on the issuance at the eleventh hour – seemingly in a move to distance itself from crypto, which is all but illegal in China – the bank’s Malaysian operation appears to be gearing up to back a new, similar launch. Per Chine...

Blog • 04 December 2020, Friday, 05:00

OMG Rallies as OMG Network Sold To a New Owner

The OMG Network – operator of the Ethereum (ETH)-based OMG token (formerly OmiseGo) – has a new owner, news that has sent the token’s price up by almost 8% in the past 24 hours. At pixel time (09:21 UTC), OMG, ranked 43rd by market capitalization on Coinpaprika, trades at USD 4.05 and is up by almost 8% in a day and 16% in a week. The price rallied by 44% in a month and 462% in a year. In an announcement, GBV, which describes itself as a full-service investment company working with Genesis Block...

Blog • 03 December 2020, Thursday, 15:00

Aave's Second Version, New Bitcoin Mining Pool in North America + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. DeFi news Decentralized finance (DeFi) platform Aave has announced today that Aave V2 is live on mainnet. The new version brings the ability to trade for free assets that are used as collateral; the ability for users to close their loan positions by paying directly with their collateral in 1 transaction; and upgrades to flash loans, among other m...

Blog • 02 December 2020, Wednesday, 13:00

PayPal CEO Sees 'The Entire World' Going 'Digital First' + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news PayPal CEO Dan Schulman said the use of digital currencies is set to go mainstream as more merchants take a "digital first" approach to payments, Bloomberg reported. "The entire world is going to come into digital first," the CEO said, adding that he sees his biggest competitor as Ant Financial, China’s largest mobile-paymen...

Blog • 02 December 2020, Wednesday, 11:00

Bitcoin Rewards "Farming" Is Coming

As US-based major crypto lending and trading company BlockFi just announced another bitcoin (BTC) rewards card, it seems that BTC spenders might be able to “farm” their rewards by combining already existing solutions. Somewhat, it would be similar to what DeFi yield farmers are already doing by moving their tokens between different lending protocols to maximize their returns. Yesterday, BlockFi made a splash with its announcement for a new co-branded Bitcoin Rewards Credit Card with Visa, which...

Blog • 01 December 2020, Tuesday, 13:00

Coinbase's Strategy Helped MicroStrategy, Bitcoiner Eyes Soccer Club + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Major crypto exchange Coinbase revealed that it was selected as the primary execution partner for MicroStrategy’s USD 425m investment in bitcoin (BTC) this past summer. "Using our advanced execution capabilities, leading crypto prime brokerage platform, and OTC desk, we were able to buy a significant amount of bitcoin on behalf of ...

Blog • 01 December 2020, Tuesday, 09:00

Ethereum 2.0's Phase 0 Goes Live 'Successfully', ETH Drops

The first of Ethereum 2.0 (ETH 2.0) is now live, with the team behind it describing its launch as successful, while ETH erased all its gains today. At 12 UTC today, per the Ethereum Foundation livestream and Beaconcha.‍in's genesis dashboard, the first phase has been launched. The Slot 1, the first that was able to be signed by a validator, was signed with "Mr F was here." Normal people: we should really put something profound in the first block of the ethereum PoS chain, something about gi...

Blog • 01 December 2020, Tuesday, 01:00

Coinbase, Huobi Join Other Exchanges in Supporting Ethereum 2.0 Staking

With the much-anticipated launch of Phase 0 of Ethereum (ETH) 2.0 finally here, the industry begins to prepare for the transition to the proof-of-stake (PoS) consensus algorithm for the second largest cryptoasset by market capitalization. Major crypto exchanges, including Kraken, Coinbase and Huobi have already made their moves. Coinbase announced its full support for ETH 2.0 staking and trading amid the “multi-year upgrade to Ethereum 2.0.” Coinbase users can convert their ETH1 in their exchang...

Blog • 30 November 2020, Monday, 15:00

Ukraine To Teach Citizens About Bitcoin, Crypto Crime Warning + More News

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 The Ukrainian Ministry of Education has unveiled an educational course for citizens that comprises modules on bitcoin (BTC), crypto mining, blockchain technology, and more. Per a Telegram post from the Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov, the eight-part video lecture series will also include...

Blog • 30 November 2020, Monday, 13:00

Ethereum 2.0 Journey in 3½ Phases Is About to Start With Phase 0

The long-awaited, much-discussed second iteration of the Ethereum (ETH) network is slated to take an important step on December 1. It will not actually fully roll-out at once - instead, the very first day of December will see the first of its phases, laying the basis on which the rest will be built. Therefore, we'll look into what lies ahead until the planned Ethereum 2.0 (ETH 2.0) full arrival. Ethereum 2.0, also known as Serenity, is the second version of the original network, or as Ether...

Blog • 27 November 2020, Friday, 09:00

Another Blow To Bitcoin Miners Comes This Sunday

Bitcoin (BTC) mining difficulty is expected to rise again in two days, the most since September, cutting into the profit margins of BTC miners right after a strong market correction this week. Major mining pool BTC.com estimates that the mining difficulty, which is the measure that shows how hard it is to compete for mining rewards, will rise this Sunday during the next difficulty adjustment by 7.82%. This would push it up from 17.6 T recorded two weeks ago to 18.97 T. This level is still rela...

Blog • 26 November 2020, Thursday, 21:00

Venezuelan Retailing Heavyweight Starts Accepting Bitcoin, Altcoins

Rattan, a popular shopping outlet in Venezuela, has become the latest retailer in the country to announce it will start accepting payments in bitcoin (BTC) and a number of altcoins. Per a tweet from media outlet Criptolugares that was reposted by crypto exchange Cryptobuyer, the trading platform has struck a deal with Rattan that will initially see the Plaza branch of the Rattan supermarket network, one of the busiest retailers on the island of Margarita, in the state of Nueva Esparta. The deal ...

Blog • 26 November 2020, Thursday, 15:00

This Is How Confiscated Bitcoin, Ethereum, And Monero Sold By The Taxman

Selling the confiscated EUR 6.4m (USD 7.63) in crypto for the Lithuanian tax authority was a lengthy and complicated process that lasted at least two months and required long preparation and detailed coordination between the seller, supplier, trading partners, and intermediary banks so as to avoid issues and delays during the sale, according to the CEO of the Lithuanian investment and exchange service that performed the sale. As previously reported, on November 18, the Lithuanian State Tax Inspe...

Blog • 25 November 2020, Wednesday, 21:00

Furious Abkhazian Villagers Forcibly Close Down Crypto Mining Farms

Crypto mining is threatening to draw a nation into chaos – with angry Abkhazian villagers reportedly taking the law into their own hands by kicking miners out of their regions. The latest development in the South Caucus-located de facto state has seen anarchic uprisings, with miners thrown out on their ears – and politicians apparently divided as to how to deal with what is rapidly descending into a national crisis. The government has gone back and forth with its crypto mining laws recently, fir...

Blog • 25 November 2020, Wednesday, 13:00

Retail Crypto Trading Soars In Africa and Asia + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news Marcus Swanepoel, Founder of UK-headquartered crypto exchange Luno, recently acquired by the Digital Currency Group, said that their retail volumes in South Africa, Malaysia, Nigeria, and Indonesia all tripled over last month and reached all-time highs. "Emerging market consumers are voting with their money and they're re...

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