bitcoin mining

Sanctions-hit Iran becoming ‘heaven’ for bitcoin mining, says govt official

An increasing number of Iranians have started turning to cryptocurrencies, in particular bitcoin, with the devaluation of the national currency prompted by US economic sanctions. The crypto craze has raised concerns from authorities that the energy-hungry process of “mining” bitcoin is abusing Iran’s system of subsidized electricity. Currently at half-a-cent per kilowatt, the subsidized electricity […]

Bitcoin Cash Attack Imminent? Unknown Miner Controls 70% of BCH Hashrate

Unidentified miners currently control nearly 70% of the Bitcoin Cash hashrate. Is a 51% attack currently being primed on BCH? Unknown miners currently account for 69.44% of the Bitcoin Cash hashrate. Established mining pools have disappeared completely. Others had their network influence cut in half. The same issue arose in April, when an unknown miner […]

Bitcoin Mining Uses as Much Energy as Ireland

The Power Demand For Blockchain Network is on Rise Even When Bitcoin Prices Have Come Down. According to a report by Alex de Vries, the Dutch researcher, the Bitcoin network uses as much electricity as Ireland. According to his estimates “at least 2.55 gigawatts of electricity currently, and potentially 7.67 gigawatts in the future.” Bitcoin […]

Bitcoin History

Bitcoin is a decentralized virtual currency. This currency is exchanged digitally and managed by a peer-to-peer network, rather than a central bank or authority. The supply of Bitcoins is automated and released to mining servers; with a limit of 21 million Bitcoins being reached by 2140. Each Bitcoin is a piece of code that has […]

Bitcoin Peaked 2 Years Ago. New Competition Is on the Way.

Two years ago today, Bitcoin hit its highest price ever, reaching $19,783. It was the culmination of an incredible year for the digital currency, which had started 2017 at about $1,000. Since hitting its peak, however, Bitcoin has fluctuated wildly. It fell 73% in 2018 and has risen 85% this year—but has not come close […]

10 Best Performing Cryptos of 2019

ChainLink  While a fair few people may be surprised to see ChainLink in the list of the best-performing cryptocurrencies of 2019. The platform essentially seeks to bridge the gap that exists between blockchain-based smart contracts and real-world applications. From an economic standpoint, LINK started the year relatively slow — with the price of a single […]

Crypto Firms Continue to Fold as E.U. Money-Laundering Laws Encroach

Crypto Firms Close Doors as Regulation Ramps Up According to industry outlet The Block, a number of crypto startups are closing operations as the MLD5 European Union regulation, regulation that mandates firms operating in the region to implement anti-money laundering (AML) and know-your-customer (KYC) procedure, is slated to come into effect early next year. SimpleCoin, a […]

Highest in 2 Years: 65% of Bitcoin Hash Power Is in China, Report Finds

For all of bitcoin’s promise of being the world’s first decentralized, peer-to-peer cryptocurrency, 65 percent of the total hash power resides in China. That’s the highest in at least two years according to a recent report by CoinShares Research.  Skeptics like economist Nouriel Roubin often claim there is a massive centralization of power among miners and […]

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