Mining Blog & Mining News

Blog • 29 May 2020, Friday, 12:00

JPMorgan Loses USD 2.5M in Crypto Case, Dragonchain on Science Channel + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Legal news Major investment bank JPMorgan Chase has agreed to pay USD 2.5 million to settle a class-action lawsuit over its decision to begin treating purchases of cryptocurrency with Chase credit cards as cash advances in 2018, which resulted in higher fees, reports Reuters. Per a motion filed in Manhattan federal court, the bank...

Blog • 27 May 2020, Wednesday, 16:00

Here's What People Bought With Their Bitcoin Profits

Cars, pinball machines, virtual private networks (VPN), more cars - these are some of the things people have recently purchased with their bitcoin (BTC) profits. Some BTC owners are hodlers, some are traders, but all wish to build a world where they own and manage their fortunes and are able to complete everyday purchases with crypto. There are those who are already showing to the community and the wider world what they've managed to buy thanks to their BTC profits - and though some are cert...

Blog • 27 May 2020, Wednesday, 08:00

Major Bitcoin Players Lure Large Investors With New Offerings

From exclusive trading services to investment in Bitcoin (BTC) mining farms, major crypto players are expanding their product list in order to attract more large investors. Crypto custody company BitGo has announced today the launch of BitGo Prime, to offer institutional trading services, which come with "increased liquidity, fast execution and competitive aggregate pricing." The company said in their press release that BitGo Prime clients are able to trade directly and anonymously from their c...

Blog • 27 May 2020, Wednesday, 00:00

South Korean Crypto Tax ‘Coming Next Year for Traders, Miners & ICOs’

South Korean ministries have pledged to impose tax on cryptocurrency trading and crypto mining “from next year.” Per reports from E Daily and Decenter, the Ministry of Economy and Finance is preparing to make an amendment to the existing Income Tax Act that will include clauses about taxing profitable cryptocurrency sales, as well as the profits of crypto mining projects. The ministry also spoke about taxing the proceeds of initial coin offerings (ICOs) – perhaps a slightly puzzling statement fo...

Blog • 26 May 2020, Tuesday, 10:00

Bitcoin Fees Drop But Still Remain Far From the Pre-Halving Level

After two weeks of soaring, Bitcoin (BTC) fees' flight to new highs seems to be over, at least for now, descending more than 50%. Bitcoin fees started rising after the reduction of the miners' reward on May 11, surprising even the industry insiders and reaching new, 'ridiculous' highs this year. However, they've been seen dropping in the last five days. Between May 20 and May 25, BTC average transaction fee was cut more than half, from USD 6.647 to USD 3.069. The 7-day movin...

Blog • 25 May 2020, Monday, 10:00

Satoshi-era Bitcoin Miner Calls Craig Wright a Fraud Using "His" BTC Addresses

It looks like, someone just signed a message calling Craig Wright a fraud by using 145 addresses the controversial Australian computer scientist Craig Wright claimed were his in the Tulip Trust, an anonymous Twitter user Zectro discovered. However, it seems that it's not Satoshi Nakamoto, who sent the message. "Craig Steven Wright is a liar and a fraud. He doesn't have the keys used to sign this message. The Lightning Network is a significant achievement. However, we need to continue wo...

Blog • 23 May 2020, Saturday, 08:00

7 Main Post-Halving Bitcoin Narratives

The third Bitcoin (BTC) halving has finally happened, hashrate dropped less than estimated, fees skyrocketed, but, contrary to the doom mongers, the bitcoin price hasn’t fallen. What happens next? What will become the next talk of the town as the “priced in/not priced in” debate has now disappeared together with 50% of the block subsidy on May 11? According to industry figures interviewed by Cryptonews.com, a number of key narratives and trends are likely to dominate Bitcoin’s fate over the com...

Blog • 22 May 2020, Friday, 14:00

Gox Rising Offers USD 800 Per Bitcoin, Canaan Disappoints, Coldplay Player Goes Crypto + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges News Puerto Rico-based firm Gox Rising, led by crypto entrepreneur Brock Pierce, has offered to buy out creditor claims from the now-defunct Mt. Gox Exchange. According to the press release, each claim will need to be individually reviewed, but the company is looking to offer USD 800 per bitcoin (BTC) claim, paid in BTC,...

Blog • 22 May 2020, Friday, 12:00

Happy Bitcoin Pizza Day: This is How "Toppings" Changed in 10 Years

Between the event that'll live on as Bitcoin Pizza Day ten years ago and today, the world's first cryptocurrency, Bitcoin (BTC), saw it's network metrics increase by six, eight, even fifteen digits. Happy Bitcoin Pizza Day, Cryptoverse! For those who are new to this event, today we celebrate one man's first crypto purchase - he bought pizza with a mind-boggling amount of bitcoin. On this faithful day in 2010, programmer Laszlo Hanyecz paid a Bitcoin talk forum user for two Papa J...

Blog • 22 May 2020, Friday, 08:00

Kleiman Lawyers: Craig Wright ‘Has Keys to Encrypted BTC 820,200 File’

The long and bitter legal struggle between Dave Kleiman’s estate and Australian computer scientist Craig Wright has taken a new twist, with the former’s legal team claiming Wright has the keys to an encrypted file that may contain the private keys to over BTC 820,000 (USD 7.5 billion) – as well as proof that the duo were working in partnership. The Kleiman estate says that Kleiman, who died in April 2013, had been mining bitcoin in partnership with Wright, but that upon the former’s death, Wrigh...

Blog • 21 May 2020, Thursday, 14:00

Another One-Stop-Crypto-Shop In Making, CBDC Test + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. M&A news New York-based institutional trading firm Genesis has announced its acquisition of Vo1t, an insured digital custody service. Per the press release, the addition will supplement Genesis’s existing services, encompassing global over-the-counter trading and institutional lending, and it will also enable the firm to launch it...

Blog • 21 May 2020, Thursday, 08:00

New Russian Law ‘Could Hit Illegal Crypto Traders with 7-yr Jail Terms’

The State Duma, the Russian parliament, is reportedly set to vote on new legislation that would propose to make illegal crypto trading a criminal offense that would be punishable with jail time. Per RBC, Telegram users in Russia say that they have seen draft amendments to two Russian laws that pertain to the nation’s criminal code. The media outlet says that “two sources familiar with the matter” have confirmed the proposals’ authenticity, and the head of the Duma’s financial committee, Anatoly ...

Blog • 20 May 2020, Wednesday, 02:00

Bitcoin Mining Difficulty Drops More Than Estimated

Starting today, mining Bitcoin (BTC) has become easier than in the end of April. On Wednesday morning (UTC time), BTC mining difficulty, a measure showing how hard it is to compete for mining rewards, dropped by 6%, to 15.14 T, while a week ago, some analysts estimated a c. 2% drop. In April, difficulty increased from 13.91 T to 14.72 T and then to 15.96 T. The last time this measure went down was on March 26, when it decreased by historic 16%, as more miners turned their machines off followin...

Blog • 19 May 2020, Tuesday, 12:00

Bitcoin Mining Difficulty Adjustment Might Help Adjust Heavy Fees Too

With Bitcoin (BTC) fees reaching new highs this year, the hammer that could knock it back down may be the imminent mining difficulty adjustment. As reported, both Bitcoin and Ethereum (ETH) fees have been on the rise in the past week. According to Bitinfocharts.com, the average transaction fee made another jump, reaching USD 5.828 on May 18. Looking at the 7-day moving average values, the fees are up 70% since the third BTC block subsidy halving a week ago. The median transaction fee also shows...

Blog • 18 May 2020, Monday, 08:00

Bitcoin Miners To Experience First Post-Halving Difficulty Adjustment

The first post-halving Bitcoin (BTC) mining difficulty adjustment is tomorrow, and it's likely bringing much-needed relief to BTC miners that experienced their third pay cut a week ago. Just six days ago, following the historic third halving of BTC mining reward - lowering the block subsidy from BTC 12.5 to BTC 6.25 per block - it was estimated that mining difficulty, a measure showing how hard it is to compete for mining rewards, would rise 4.5% and above its March all-time high to 16.83 T...

Blog • 15 May 2020, Friday, 12:00

5 Historic Post-Halving Bitcoin Price Predictions

With its third mining reward halving Bitcoin (BTC) entered its so-called fourth epoch, bringing together hopes that the outspoken BTC bulls are right and the price will skyrocket again. Let’s remember five high-profile post-halving bitcoin price predictions that may make you want to stack more sats and hope that they are right. Tim Draper and USD 250,0000 In 2018, renowned venture capitalist Tim Draper predicted that the price of bitcoin would hit USD 250,000 on or before 2022. Draper made the...

Blog • 15 May 2020, Friday, 08:00

FTX Launches Futures Contracts on Bitcoin Hashrate

In what is likely to be the first such offering in the world, a crypto derivatives exchange has announced the launch of a new futures market that represents hashrate, or the computational power, of the Bitcoin (BTC) network. Announced today by Sam Bankman-Fried, CEO of crypto derivatives exchange FTX, the new product drew mixed reactions from the community, with some hailing it as a “great for miners,” and others suggesting it is another unnecessary trading product. Regardless of how useful the ...

Blog • 15 May 2020, Friday, 06:00

Europe Heats Up Competition in Bitcoin Mining, Layer1 Plans Bold Move in US

As China’s dominance in Bitcoin (BTC) mining has already decreased this year, Europeans are taking even more steps to become more attractive to crypto miners. At the same time, BTC miners in the US also have ambitious plans. While Ukraine plans to offset the financial chaos of the coronavirus pandemic with nuclear-powered crypto mining, the most recent move has been made in Scandinavia. Norway’s government has proposed to reintroduce an important incentive that directly impacts the profitabili...

Blog • 14 May 2020, Thursday, 14:00

Coinbase Implements Fixes, Shortage Of Blockchain Specialists + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Following two outages on April 29 and May 9, Coinbase said they are changing their database deployment topology, resolving the issue with the driver closed connection logic and implementing better jitter to prevent connection storming. Also, they're rolling out safeguards that will allow them to contain the impa...

Blog • 13 May 2020, Wednesday, 14:00

Some Bitcoin Miners Flock to Bitcoin Cash And Bitcoin SV

While it might take weeks until we have a clear picture of the Bitcoin network after its third halving, it looks like some of its miners have already turned to Bitcoin Cash (BCH) and Bitcoin SV (BSV). BCH saw its hashrate almost doubling on the day of BTC's halving, on May 11. As reported, after its own halving this April, BCH hashrate dropped 66% in two days. However, in the past 24 hours, it dropped again, this time, by 13%. Another coin to have gone through a halving this year is BSV. 2...

Blog • 13 May 2020, Wednesday, 10:00

Bitcoin Returns Above USD 9,000, Altcoins Drop Against BTC

It took a few days for bitcoin (BTC) price to return above the USD 9,000 level after crashing on the eve of the third mining reward halving. At pixel time (13:30 UTC), BTC trades at c. USD 9,094 and is up by 4% in a day, almost erasing all its weekly losses. The price is up by 35% in a month and 10% in year. For around 15 minutes, BTC was above USD 9,000 on May 11, or the halving day, too, but since then it struggled to get back above this level. BTC price chart: Meanwhile, all major altcoins...

Blog • 12 May 2020, Tuesday, 08:00

First 100 Post-halving Bitcoin Blocks: Miners Readjusting, 51% Attack Gets Cheaper

As the Bitcoin (BTC) network is adjusting after its third mining reward halving, first signs of the falling hashrate are starting to appear, while block time, which should, in theory, be around 10 minutes, dropped to 1 minute on multiple occasions as first 100 post-halving blocks are being mined. While there is no specific data point on how much hashrate has dropped just yet, Johnson Xu, the Chief Analyst at token data and rating agency TokenInsight, estimates it's around 15%. Bitinfocharts...

Blog • 12 May 2020, Tuesday, 06:00

Post-halving Bitcoin Consolidates, Altcoins Facing Major Hurdles

After a strong decline, bitcoin price started a decent recovery wave above USD 8,550 ahead of the mining reward halving. BTC/USD even recovered above the USD 8,850 level, but it failed to surpass USD 9,000. As a result, there was a fresh decline and the price is now (08:30 UTC) consolidating in a range above USD 8,550. However, most major altcoins remained in a bearish zone and struggled to recover, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is currentl...

Blog • 11 May 2020, Monday, 16:00

Bitcoin Went Through its Third Halving, Next Target - 'Halvation'

Bitcoin (BTC) just went through its third halving of the mining reward, which is jokingly referred to as 'Halvation' (halving + salvation) that should send the price of the most popular cryptocurrency to the Moon or even further. Today, on block 630,000, mined by AntPool, Bitcoin's rate of new supply was cut in half from BTC 12.5 per mined blockchain block to BTC 6.25, with which the world's oldest cryptocurrency stepped into a new era that will last for four years until the nex...

Blog • 11 May 2020, Monday, 14:00

This is How Bitcoin Changed Since Its Second Halving in 2016

The Bitcoin (BTC) mining reward is halving today, and the entire industry is focused on it to see what'll happen afterward. Though we may not know what the future has in store for BTC, we know its past - and we know that in the four years since the second halving, many of the network metrics of this world's oldest cryptocurrency have seen increases of three or four digits. Being a vital part of the very basis of the world's number one coin, and their preliminarily dates being known ...

Blog • 11 May 2020, Monday, 08:00

This is Why Third Bitcoin Halving is Different, According to CME

Although previous Bitcoin (BTC) halvings have all led to a rise in price both before and after the event occurred, this time may play out differently due to the emergence of a whole new derivatives market for bitcoin, one of the largest derivatives exchanges in the world, CME Group, said. The third BTC mining reward halving, that is estimated to happen this evening (UTC time), may have a smaller impact on the price of bitcoin than what has traditionally been expected around such events, Payal La...

Blog • 10 May 2020, Sunday, 02:00

Bitcoin Dives, Erasing All Weekly Gains, Altcoins Bleed Too

In a sudden move in early Sunday hours (UTC time), bitcoin (BTC) price crashed around 10%, leaving traders perplexed. In the top 10, all coins, except tezos (XTZ), are down in double-digits. At pixel time (04:50 UTC), BTC trades at c. USD 8,534 and is down by 13% in a day, erasing all weekly gains (-8%) and trimming its monthly gains (21.5%) BTC price chart __ BitMEX XBTUSD Liquidations At the same time, ethereum (ETH), XRP, bitcoin cash (BCH), litecoin (LTC) are down by 12%-13%, also dropping b...

Blog • 09 May 2020, Saturday, 08:00

Rain, Government, and BTC Bulls to Help Chinese Miners After Bitcoin Halving

The third Bitcoin (BTC) halving will change the mining industry. With mining reward effectively being cut by 50%, many miners and mining companies will be forced offline. Only the most efficient and economically viable will survive. The question is: will the surviving miners be mostly concentrated in China, as they are today? Within the Bitcoin mining industry, there are two common answers to this question: “no,” and “yes, but not to the same extent.” Many China-based miners will go offline, an...

Blog • 08 May 2020, Friday, 10:00

Bitcoin Miners Send Bullish Signs Ahead of Halving

There's some bullish news from the mining industry ahead of Bitcoin (BTC) halving. Miners are hoarding BTC, expecting higher prices and buying rigs in the thousands, while the recent rally has made older rigs profitable once more, thus pulling many miners away from the exit door. The miners have sold less than they've mined and have hoarded BTC 1,067 (USD 10.5 million) over the course of the past week, according to crypto-asset data provider ByteTree. This would usually suggest a soft bi...

Blog • 07 May 2020, Thursday, 12:00

Bitcoin Halving as 'A Crypto Super Cycle Marketing Event' & Its Three Narratives

Crypto researcher Messari delved into Bitcoin (BTC)'s upcoming third halving, and among investment theses and possible implications, provided the teams' opinions on major and impactful halving (which also deemed to be 'a marketing event at best') narratives. CEO Ryan Selkis believes that the market is underestimating the amount of impact that'll be created by the hardening of the digital gold narrative, the entry of new "mega-whale" investors, and the momentum trade will hav...

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