Day: November 6, 2018

Paraguay Emerges as Popular Bitcoin Mining Destination, Weighs its Developmental Options

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Paraguay’s Itaipú Dam, one of the largest hydroelectric facilities in the world, is supporting bitcoin and ethereum mining in a city on the country’s border with Brazil and Argentina. These efforts have already spawned a number of new cryptocurrency businesses, creating multiple millionaires, but an ongoing reassessment of the dam’s developmental potential could spell boom or bye for the miners that have been flocking to the city. Also Read: GMO Internet Sees Huge Leap in BCH Mining For October, Cheap, Clean Power Across Ciudad del Este, cheap and abundant electricity from the Itaipú Dam…

Bitly Blacklists Crypto-Related Links Of Andreas Antonopoulos

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Andreas Antonopoulos, the bestselling author and Bitcoin advocate, recently asked the web-link shortening service Bitly to explain the reason for blacklisting his crypto-related links. A dedicated Bitcoin (BTC) enthusiast and also a self-proclaimed computer geek, Antonopoulos has also authored “Mastering Bitcoin.” Antonopoulos’ latest books comprise of hundreds of crypto-related links It seems that Bitly stopped including cryptocurrency sites in its services list giving readers a warning before redirecting them to the original website. The crypto-related links serve as a Twitter thread between the readers and the Bitcoin expert. Currently, Antonopoulos…

Thai Revenue Department to Track Tax Payments Using Blockchain

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The Thai Revenue Department has revealed its plans to track tax payments using blockchain and maсhine learning, local news outlet Bangkok Post reported Nov. 5. Ekniti Nitithanprapas, the Revenue Department’s director-general, told reporters that blockchain will be used to verify the validity of taxes paid and to speed up the tax refund process. Machine learning, in its turn, will help reveal tax fraud and create more transparency, Nitithanprapas also noted. The official further noticed that a digital tax collection system based on modern technologies is one of the government’s top…

New Ripple Surge Sees Token Briefly Become Largest Altcoin By Market Cap, Again

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Ripple (XRP) overtook Ethereum (ETH) to become the largest altcoin by market capitalization again today, Nov. 6, after gaining 18 percent in 24 hours. Data from CoinMarketCap confirms the latest switcharound of the top two altcoin assets, repeating a pattern that has occurred several times this year. Market capitalization overview. Source: CoinMarketCap XRP shot higher over the weekend as markets reacted to a basket of factors, including fresh uptake of Ripple’s xRapid platform, but it remains unclear which specific factors fuelled the rally. xRapid, the payment network which uses XRP…

This Bitcoin Price Chart May Give Early Warning of Next Bull Reversal

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That bitcoin (BTC) has likely found a bottom around $6,000 is now generally accepted, so the challenge for investors and traders is to spot the early signs of a long-awaited bullish reversal. Basic technical theory suggests that a bearish-to-bullish trend change is confirmed after the price invalidates a “lower highs” pattern – a series of descending peaks. As such, bitcoin needs to rise above the September high of $7,400 to confirm a major bullish breakout. That would mean the number one cryptocurrency by market cap needs to rally close to…

Bitcoin Mining Behemoth Bitmain Releases New 7nm Antminer Hardware

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Bitcoin (BTC) mining giant Bitmain has officially released two new 7nm (nanometer)  “Antminer” crypto mining machines, according to an official tweet posted Nov. 5. Bitmain indicated in September that it would be equipping its new Antminer models with next-generation Application-Specific Integrated Circuit (ASIC) chips. ASIC chips are geared to compute optimally for a specific hashing algorithm and, as Bitmain’s tweet confirms, these latest “acceleration” chips use an SHA256 algorithm, which is based on 7nm Finfet semiconductor manufacturing technology. Today’s tweet from the company reads: “We are officially announcing the release…

Mining Giant Bitfury Raises $80 Million in Closed Funding Round as Mining Market ‘Matures’

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Bitcoin mining infrastructure provider Bitfury has raised $80 million in a closed funding round, the company revealed in a press release shared with Cointelegraph Nov. 6. The round, which comes weeks after rumors Bitfury was considering an IPO, was led by European venture capital fund Korelya Capital. Other participants included South Korean internet giant Naver Group, Asian institutions Macquarie Capital and Dentsu Japan, as well as Michael Novogratz’s Galaxy Digital. “This private placement will take our corporate governance to the next level, broaden our financial strategic options, and ideally position…

XRP Nears 50 Cents as Price Rises to One-Month Highs

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The price of XRP, the world’s third-largest cryptocurrency by market capitalization, jumped 6 percent on Monday, to reach its highest total in 30 days, according to CoinDesk data. At 15:01 UTC, the cryptocurrency rose to $0.49 cents for the first time since Oct. 8, and was last seen trading at $0.4950, marking roughly a 6.14 percent increase since the day’s open. At press time, XRP is the biggest winner among the top 10 cryptocurrencies by market capitalization, reporting a seven-day gain of 11.13 percent, according to data from CoinMarketCap. XRP’s market…

Crypto Exchange BTCC Is Closing its Mining Pool Business Indefinitely

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Hong Kong-based cryptocurrency exchange BTCC is shutting down its mining pool business, BTCC Pool Limited, after four years of operation. Citing the reason for the closure as “business adjustments,” BTCC Pool said Tuesday that it will shut down all mining servers on Nov. 15 and will cease operations indefinitely from Nov. 30. The firm has now asked all member miners to switch their hashing power away from the pool before Nov. 15., adding that it release previously earned mining profits “in time.” The pool was launched in 2014 as one of BTCC’s…

China’s Central Bank Slams Blockchain Investment ‘Bubble’

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Twitter Facebook LinkedIn China’s central bank has called on the government to strengthen supervision into ‘speculative’ financing and investments in the blockchain sector. The Research Bureau of the People’s Bank of China, the country’s central bank, published a working paper titled ‘What can a blockchain do and cannot do?’ on Tuesday. An early analysis of the working paper by CCN China can reveal that the central bank’s research arm is studying the impact of blockchain and various projects aimed at commercializing the decentralized tech in society. Pointedly, the central bank…