Decentralization and blockchain are two words that many purists believe must be put together to be the future of financial technology. Reporting on a study developed by UK based company CoinShares, as much as 66% of global hash rates come from and are controlled by Chinese entities. Mining is a crucial element in distributed … Continue reading UK Research Shows 66% Control of Hash Rate is Coming From China
An interactive map published by the University of Cambridge’s Alternative Finance Center (CCAF) revealed Chinese miners accounted for 65 percent for the global hashing power used by Bitcoin. China dominates Bitcoin mining The CCAF tracked mining data for over a year from websites like BTC.com, ViaBTC, and Poolin, with the premier university claiming the map … Continue reading China Accounts for 65 Percent of Bitcoin’s Hash Power, New Research Reveals
Bitcoin mining difficulty has experienced a decline of 16%, which represents the largest percentage difficulty drop since Bitcoin miners started using the ASIC mining machines in late 2012, according to Glassnode data. The Bitcoin Difficulty Estimator whose role involves providing updates every second, showed that the Bitcoin network adjusted its mining difficulty at 8:28 UTC … Continue reading Bitcoin Experiences the Second-Largest Drop in Mining Difficulty in History
After setting a new all-time high of $64,895 on April 14, Bitcoin fell to $60,811 for the first time today due to the decline in hash power of Chinese mining pools and the ban on cryptocurrency payments proposed by the Turkish government. Today, the Central Bank of Turkey proposed a new regulation banning the use of cryptocurrency and … Continue reading Bitcoin Falls to $60K amid a Sharp Drop in Hash Rate and Turkey's Crypto Payment Ban
After Bitcoin fell below the previous support level of $60,103 yesterday, it plummeted from $60K to around $51K, incurring a loss of around $9,000 in just four hours and creating the largest reversal record since February. The decline in the hash rate of Chinese mining pools, the Turkish government’s ban on cryptocurrency transactions, and rumours of … Continue reading Bitcoin Flash Crashed to $51K,Triggering a $9.32B Liquidation – What's Next?
Current data from crypto market analytic providers has shown that Bitcoin’s dominance in the digital currency ecosystem is reducing, as the market regains momentum and soars above $2 trillion after a week-long slump. According to CoinMarketCap, Bitcoin currently dominates the market by 48.7% atop a market capitalization of $1.08 trillion at the time of writing. … Continue reading Crypto Market Cap Soars Above $2 Trillion
Elon Musk, the Chief Executive Officer of Tesla, came under fire over the weekend when he revealed that the company had decided to stop accepting Bitcoin payments due the excessive energy consumption needed for Bitcoin mining. The announcement triggered a massive drop in Bitcoin’s price, where the cryptocurrency went from a high of $57,939.36 to … Continue reading How Can Bitcoin Be A Safe-Haven Asset When It Is So Greatly Influenced by a Tweet, says Peter Schiff
Elon Musk’s tweets have served to create headwind for Bitcoin, sending the cryptocurrency on a steep plunge. Recently, Musk implied that Tesla may sell off its Bitcoin holdings. He also slammed BTC mining operations, which are highly concentrated in China. Reuters reported on Monday that Musk raised concerns about Bitcoin’s mining operations while responding to a … Continue reading Elon Musk Criticizes Bitcoin Mining for Being Highly Centralized in China, Hinting that Tesla May Dump Bitcoin
MicroStrategy Incorporated, a Nasdaq-listed business intelligence and software firm, topped up its Bitcoin (BTC) accumulation with an additional 229 Bitcoin (BTC) purchase in cash. The latest purchase, worth as much as $10 million, came few days after the company acquired 271 units of the cryptocurrency, establishing its stance as a true Bitcoin investor. As revealed by Michael … Continue reading MicroStrategy Scoops Up Extra 229 BTC Worth $10M
Raoul Paul, a popular crypto advocate who doubles as the founder and Chief Executive Officer of Global Macro Investor and Real Vision Group, praised for the broader cryptocurrency industry, following the three-week-long downturn in the market. Raoul Paul hailed the resilience of the digital currency ecosystem and its ability not to crumble as over $1.02 trillion were wiped … Continue reading Raoul Paul Hails Crypto Industry, Calls it "Anti-Fragile Financial System."