Bitcoin News

With Bitcoin declining this year, you might expect mining activity to follow. That hasn’t happened. The combination of falling prices and a rising hash rate -- which measures computing power -- shows how complex the economics of cryptocurrency mining are. An increasing hash rate means Bitcoin mining is still profitable enough for many players to stay put, defying speculation that prices have fallen past break-even points. Source: https://www.bloomberg.com/news/articles/2018-08-16/with-bitcoin-sinking-cryptocurrency-miners-just-dig-deeper That may be a reflection of how sophisticated Bitcoin mining has become after last year’s 1,400 percent price rally. While that drew a fair share of amateurs mining from their basements, the lucrative rewards also drove major miners to up their game by snatching up increasingly speedy chips and setting up shop in places with cheap power. That’s helped them squeeze out smaller players as prices fall to the $6,000 level. “There are still m

It appears that the cryptocurrency revolution is not all that welcome in Norway, with a  bitcoin mining facility  in a remote part of the country receiving a bomb threat. According to the Vakdalposten newspaper, the mining company, which is called Kryptovault and operates in the cities of Follum, Honefuss, and Dale, received the bomb threats on Saturday after a report on the company appeared in a local newspaper. Kryptovault’s managing director, Gjermund Hagesaeter, also spoke to the Ringerikes Blad newspaper, and he explained  that the police had been immediately informed  after the bomb threat was received. He also said that he had warned his employees to be extra vigilant about going on with their duties. “The threat has been reported to the police and these are also taking the whole issue very seriously indeed. We have also asked the police to assess whether any further action needs to be taken. The facility at Follum is located in a fenced area, so it would be difficult

Coinbase CEO Brian Armstrong sits for a portrait in their San Francisco headquarters on May 4, 2018. (Photo by Christie Hemm Klok for The Washington Post via Getty Images) Bitcoin and cryptocurrency adoption rates around the world are growing, but not quickly enough to prevent  the bitcoin price from falling  — and now the chief executive of San Francisco-based Coinbase, one of the world’s largest cryptocurrency exchanges, has warned that widespread, mass bitcoin adoption for payments is going to be a long time coming. The bitcoin price is currently just over $6,000 after falling below the psychological barrier yesterday for the second time this year. The bitcoin price is down some 70% from its highs at the end of last year and many of newer cryptocurrencies that have been created in the last few years have been all but wiped out. The bitcoin price has fallen far from its 2017 highs in recent months. COINDESK “I think it will be quite some time before you cross t

A reckoning coming to the cryptocurrency markets, an “extinction-level event” that’s poised to wipe out 90 percent of the more than 1,800 coins and tokens that aren’t named bitcoin. That’s the prognostication of  Xapo  President Ted Rogers, anyway, who said that the impending altcoin bloodbath will provide discerning investors with an incredible opportunity to load up on  bitcoin  at a discount. “We could be in the midst of the extinction-level event for “cryptoassets” that many maximalists have predicted. 90%+ of @CoinMarketCap list will disappear eventually – might as well happen now,” Rogers wrote on Twitter. “Meantime, lower BTC price means incredible opportunity to buy more #bitcoin.” Ted Rogers @tedmrogers We could be in the midst of the extinction-level event for “cryptoassets” that many maximalists have predicted. 90%+ of @ CoinMarketCap list will disappear eventually - might as well happen now. Meantime, lower BTC price means incredible opportuni

If the bitcoin price falls below the important year-to-date support level, the dominant cryptocurrency will suffer irreparable damage in the marketplace. This is the opinion of Renaissance Macro Research, quoted by  CNBC  on Thursday Aug. 9. Bitcoin May Be ‘Permanently Impaired’ According to the financial analysis firm, what bitcoin is facing right now could be much more significant than just a brief bear run or a retracement. The cryptocurrency could in fact be facing an existential crisis, with its key year-to-date support level being the buffer between it and more substantial damage. Break that level, says Renaissance Macro Research, and  bitcoin  will be “permanently impaired.” BTC/USD | Bitfinex After a bull run took it  well above $8,000 , bitcoin has sunk back below $7,000, and its current price is roughly 14 percent down on the same time a week ago. On Wednesday August 7, it lost about 6 percent of its value on news that the U.S. Securities and Exchange Commission (SE

One of the giants of the cryptocurrency exchange game has given users a sneak peak at their latest offering. Binance CEO, Changpeng, Zhao presented a very rough version of the platform’s new decentralised exchange earlier today. Binance DEX is Ahead of Schedule in Terms of Development In a video posted to Twitter today, Changpeng Zhao, or CZ as he prefers to go by, spoke about the latest developments being made towards launching a Binance decentralised exchange, or DEX. The CEO was careful to stress that this was a “casual, pre-alpha demo” and that it would be wrong to expect too much at this early stage of the DEX’s evolution.   YouTube   ‎@YouTube CZ (not giving crypto away) ✔ @cz_binance A first (rough, pre-alpha) demo of the Binance Decentralized Exchange (DEX), showing issuing, listing and trading of tokens. All cli based, no GUI yet. A small step for # BinanceChain , a big step for # binance . https:// youtu.be/9R9LrKgL__A   12:33 PM

Over $9 billion wiped off bitcoin's value after SEC postpones key decision on a cryptocurrency ETF The price of bitcoin fell sharply on Wednesday. It comes after the Securities and Exchange Commission postponed its decision on whether it would approve a bitcoin exchange-traded fund (ETF) proposed by VanEck and SolidX. This is VanEck's third attempt to push a bitcoin ETF through. Bitcoin   fell sharply on Wednesday after the U.S. Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchange-traded fund (ETF), which would have been the first financial product of its kind. Cryptocurrency markets fell as a result. Bitcoin was down around 6 percent from 24 hours ago at 4:12 p.m. New York time, trading at just over $6,300, according to data from CoinDesk. Investment firm VanEck teamed up with Solid X, a financial service company, earlier this year in a bid to launch an ETF that is backed by actual bitcoins rather than futures. An E