Bitcoin’s hash rate reached new all-time highs in June, prompting well-known industry figures to renew calls for imminent price increases. Keiser: ‘Price Follows Hashrate’ Data from Blockchain.info confirms that Bitcoin network hashrate continued growing in 2018, despite prices conversely remaining suppressed and transaction volume declining. Hashrate refers to the total computing power of the Bitcoin network, and its growth is a solid indicator that despite low prices, more and more parties are choosing to invest
Star Trek stalwart William Shatner has become the latest celebrity to champion Bitcoin by endorsing a solar-powered mining project in Illinois. ‘You Have To Blank Your Mind’ In an interview with Chicago Tribune on June 13, the 87-year-old veteran actor told of his support as spokesman for Solar Alliance — a Canadian startup planning to conduct Bitcoin mining in an abandoned factory using solar energy. Shatner excitedly told the daily newspaper: The concept is so, I
Bitcoin is going down, and one prominent cryptocurrency analyst believes it’s still got a ways to go. Nevertheless, the upside potential — in the grand scheme of things — is still massive. ‘We May See a Very Different Game in Mining’ Ran Neu-Ner, founder and CEO of Onchain Capital and host of CNBC Africa’s “Crypto Trader,” believes Bitcoin has not found its bottom. Neu-Ner told CNBC’s “Fast Money” earlier this week: We keep going down, and
Module, Japan’s disruptive answer to the present-day inefficiency problems of blockchain Proof-of-Work (PoW) mining, has just released their early sales numbers for their MODL token private presale, and it seems their innovative project is already showing signs of being a popular hit. The company has announced that so far they’ve collected $2 million in the private sale and are well on their way to achieving their soft cap of $5 million. The blockchain world is
According to Chinese internet security firm Qihoo 360 Netlab, hackers have stolen $20 million in ether from poorly configured Ethereum mining rigs and third-party applications. Experts at the firm say the cyber-attacks target unsecured Ethereum nodes on the Internet. Details of the Hack On March 15, Qihoo 360 Netlab alerted the cryptocurrency community to the activities of hackers scanning the Internet for unsecured Ethereum nodes. At the time, the alleged cybercriminals had stolen 3.96 ETH.
Following an update to its App Store review guidelines, Apple has explicitly halted the design and development of iOS applications which can be used for direct cryptocurrency mining. Still, off-device cloud-based mining is not affected by the changes. Direct Cryptocurrency Mining is a No-Go Even though there’s no official record of when the update in the developer’s guidelines took place, Apple made it pretty clear that it is directly targeting the prevention of cryptocurrency mining.
Former Alcoa aluminum smelting facility has signed a deal with crypto-mining company Coinmint, to install one of the world’s largest cryptocurrency mining centers in Upstate New York. From Melting to Minting A former Upstate New York aluminum smelting facility is getting new and unexpected tenants. Aluminum refining and smelting company Alcoa has signed a 10-year lease, including options to renew, with cryptocurrency mining company Coinmint. It is no secret that Bitcoin prices have been less
The Bitcoin Gold (BTG) team plans a hard fork as a solution to two pressing issues: the prevention of future 51% attacks and the threat of ASIC miners flooding its network. The team states that the planned network upgrade is underway and that the majority of the components needed for it are already prepared. A hard fork is seemingly underway for the Bitcoin Gold network as announced in an official update dated June 4th. The upgrade
News has emerged of yet another cryptocurrency-related ban — this time in Vietnam. The country’s Finance Ministry is proposing a ban on the importation of cryptocurrency mining rigs. According to the ministry, these mining rigs are used to launch unregulated digital payment methods. Vietnam Struggles to Get a Handle on Cryptocurrency The entire spectrum of Vietnam’s digital currency regulations is thus; “cryptocurrencies are illegal in the country.” However, this stipulation hasn’t stopped the occurrence of fraudulent activities
Japanese internet giant GMO has announced pre-orders for its B2 Bitcoin miner — the world’s first miner equipped with 7nm processing technology. ‘I Respect Bitmain, But We Will Top Them’ Unveiling the finished product at a conference, GMO’s CEO, Masatoshi Kumagai, promised to “top” competitors with the product — which aims to deliver more power in return for a higher purchase price. The move sees GMO vie with market stalwarts Bitmain and Halong Mining Corporation to
China’s Google, as Baidu is commonly referred to, announced that they have released a blockchain-based protocol dubbed “Super Chain.” The solution is intended to resolve the issues related to mining energy consumption. Speaking at an event in China, Xiao Wei, chief scientist of Baidu’s blockchain division, announced the first release of the company’s new blockchain protocol called “Super Chain.” Solving Major Efficiency Issues Wei spoke of the capabilities of the new release, outlining its attempts
Altcoin mining has gained huge popularity over the past year as people use high-end GPUs to secure networks, and major computer part makers are taking notice, developing products for this emerging market. Now a manufacturer has released a motherboard that can support 20 GPUs. Better Hardware for Miners ASUS announced the H370 Mining Master earlier this week, boasting the ability to support a whopping 20 graphics cards. This motherboard is specifically built for cryptocurrency miners, and
The halving, the 50 percent reduction in block rewards on the Bitcoin blockchain, is only two years away. Unless there is an abnormal change in hashrate, the reward for successful Bitcoin miners will drop from 12.5 to 6.25 BTC per block in May 2020. The burning question is what effect will the block reward reduction have on the price of Bitcoin? A Little Bit of History Bitcoin is less than a decade old. Thus, history
Despite the steady decline in Bitcoin prices, the network hashrate continues to increase astronomically. Why are miners contributing more computing power to mine a cryptocurrency that has struggled over the past five months? Market analyst, Naeem Aslam believes the trend implies an upcoming price increase. Bitcoin Fundamentals and Market Indices at Odds with Each Other From an economic perspective, it makes no sense for miners to spend more money mining Bitcoins when the price continues
Police in the Ukrainian city of Rivne are facing up to three years in jail for mining cryptocurrency at a police station, reports claim this week. 4 Months’ Mining, 3 Years’ Jailtime According to local news outlet 368 Media citing a legal document, staff at the liaison office of the national police department in Rivne County began mining at the start of 2018 and continued “for around four months.” The unnamed accused now face charges
It is safe to say that Warren Buffett is not beloved within the cryptocurrency community. The billionaire investor has consistently espoused the rhetoric that Bitcoin has no value. Recently, a crypto miner has taken to publicly calling out the Berkshire Hathaway chief for his negative comments. Warren Buffett Doesn’t Know It All As far as Genesis Mining co-founder Marco Krohn is concerned, Warren Buffett is not an authority on Bitcoin. In fact, he doesn’t even
Sales of DRAM chips in Japan and the rest of the world have declined. The lull in cryptocurrency prices and the decline in smartphone sales are likely responsible for the decrease in sales. Lower Prices Cool Crypto Enthusiasm According to a recent Morgan Stanley report, the decline in cryptocurrency prices has negatively impacted the semiconductor market. With crypto prices falling, miners can end up operating at a loss. Morgan Stanley previously stated that Bitcoin mining
Yesterday, BleepingComputer brought to light recent reports that have Ethereum miners worried, as enslaved internet-connected devices have been targeting miners worldwide. Evidence filed by multiple internet security companies have shown that the Satori botnet, a system of IoT devices which number in the tens of thousands, has been trying to infiltrate Ethereum miners through a 3333 port exploit. This specific port has often been a way in which miners can remotely control their mining equipment,
Earlier this week, a study published by Dutch researcher Alex de Vries concluded that Bitcoin mining uses almost as much electricity as the entire Republic of Ireland — but should we really be concerned? ‘Picked out of Thin Air’ Bitcoin mining is undoubtedly an energy-intensive process, as anyone who’s ever mined the most valuable cryptocurrency by market capitalization from home knows — but it might not be as concerning as many experts would lead you to believe.
The seventh-largest bank in the Philippines by assets ran Bitcoin miners at a conference this week, signaling bullish sentiment from the local finance industry. Philippines Bank ‘Exploring How Bitcoin Works’ Through Mining Images uploaded to social media from the BusinessWorld Economic Forum 2018 by Satoshi Citadel Industries cofounder Miguel Cuneta show UnionBank CEO Edwin Bautista running four GPU miners at the bank’s booth. According to Cuneta, who was also present at the conference, UnionBank set
Researchers were able to detect malicious Chrome extensions that could be used for secret cryptocurrency mining. Hackers Targeting Cryptocurrency Users With the recent rise of digital asset traders and investors, many hackers and other cybercriminals are targeting cryptocurrency users. Many major cryptocurrency exchanges have also advised their users to enable certain security features like 2-factor-authentication and SMS authentication. Most cryptocurrency and cybersecurity experts advise digital asset investors to store their cryptocurrencies on hardware wallets like the
It seems that the creator of the Avalon Bitcoin ASIC mining hardware has taken moves to secure a stock listing spot on the Hong Kong stock exchange. The company, usually known as Canaan, is seeking for $1 billion in IPO funding. Canaan Creative, better known for their Avalon ASIC lineup in the cryptocurrency community, has just confirmed that they have a plan to facilitate a one billion dollar IPO. For those who are unaware of what
Nvidia announced that they had a successful 1st quarter in terms of sales, in part due to the fact that cryptocurrency-related sales boosted their revenues by 10%. Despite the good news, Nvidia expects that the sales generated by cryptocurrency enthusiasts will decrease by over ⅔ over the 2nd quarter, which ends in 2 months. Nvidia’s Growing Business: Did Crypto Sales Help? Nvidia’s Thursday release of their Q1 financial reports has shown that their revenues have