Decred co-founder and project lead Jake Yocom-Piatt predicts that the coming reduction in Bitcoin’s (BTC) mining payout will have miners upping prices. “Since the Bitcoin halving means that miners will receive half as many Bitcoins for the same amount of work, this doubles the unforgeable costliness of creating Bitcoin,” Yocom-Piatt told Cointelegraph in a May 1 email, adding: “Miners’ costs are effectively fixed, so to maintain the same profit margins, they are incentivized to double the price at which they sell their Bitcoin. I expect this supply shock will drive the Bitcoin price up by moving…
Day: May 5, 2020
European Central Bank Calls for Proactive Stablecoin Regulation
In a recent in-depth report on global stablecoins, the European Central Bank, or ECB, pushed for clear regulatory parameters for stablecoins, citing risks as well as gaps in current regulations. “In order to reap the potential benefits of global stablecoins, a robust regulatory framework needs to be put in place in order to address these risks before such arrangements are allowed to operate,” the ECB wrote in its May 5 report. The deep dive sees potential, but not without risks The ECB’s report noted several benefits around international stablecoins, including…
Recap of Cointelegraph Talks: Bitcoin’s Block Reward Halving
As part of the most recent edition of Cointelegraph Talks on May 5, Bitfinex CTO Paolo Ardoino, TradeBlock director of institutional research John Todaro, and Poolin mining pool VP Alejandro De La Torre came on today’s panel, bringing a bevy of insights on Bitcoin’s (BTC) upcoming halving, the COVID-19 pandemic and more. The current pandemic causes uncertainty Although Bitcoin largely lies outside the mainstream financial ecosystem the asset has still reacted to COVID-19 and its related mayhem. “COVID-19 has definitely had an impact on the space,” Todaro, said of crypto on May 5,…