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Bitcoin mining hardware maker Bitmain still has a “minuscule lead” over competitor Microbt despite the former’s ongoing power struggle and supply chain issues, according to Bitmex. Researchers at the derivatives exchange tested flagship products from the two companies, Bitmain’s Antminer S19 Pro and Microbt’s Whatsminer M30S+. Over a three-day period, the team measured various performance metrics such as energy efficiency, hashrate, temperature, sound, and “even the airflow speed from the main outlet.” It concluded that the Antminer machine, though priced higher, is more energy-efficient, achieving 29.7 joules per terahash (J/TH), compared with the Whatsminer’s 34.4 J/TH. Microbt has released a new Whatsminer M30S++ with reported efficiency of 31.0 J/TH, but even that is “still inferior to Bitmain,” said Bitmex, in a report published August 17. The derivatives exchange Bitmex’s Research department published a side-by-side comparison of the Antminer S19 Pro vs the Whatsminer M30S+. Both of which perform at an average of over 100 TH/s depending on the machine. In terms of hashrate, a measure of computational power for extracting bitcoin, Whatsminer achieved an average 103.8 terahash per second (TH/s) and Antminer 110.7 TH/s. The figures are 3.8% and 0.6% above the reported levels for both machines, respectively. Bitmain’s miner was also found to be 10.5°C cooler compared with Microbt’s, largely because of Antminer’s “lower power consumption or superior cooling”. Antminer is even stronger in start-up time, Bitmex said. Based on an average of five attempts, the Antminer reached its target hashrate in around four minutes, while the Whatsminer took an average of about 27 minutes to boot up. “Our data…shows that the Bitmain miner has slightly stronger performance than the Whatsminer. However, the Whatsminer appears to have superior stability,” said the exchange. “In evaluating the relative strength of the companies and their order outlook, Bitmain still has the slight edge in our view,” it added. Bitmain currently faces a major challenge of availability, according to Bitmex. The Antminer is sold out while Whatsminer is available and far cheaper – selling at $1,580 versus $2,407 for the former. Bitmex itself encountered delays getting Antminer S19 Pro. “Microbt was able to deliver the product in a few days, while Bitmain took almost five weeks, often blaming warehouse problems,” it said. The delays could be the result of the existing leadership wrangle at Bitmain and TSMC 7nm chips’ supply problems, added Bitmex. The exchange explained that it had spoken to several mining farm operators, who expressed frustration over Bitmain’s supply chain issues, but “many of them are keen to stick to Bitmain without even considering Microbt”. What do you think about the Antminer S19 Pro performance? Let us know in the comments section below. The post Bitmain Retains Only a ‘Minuscule Lead’ Over Competitor Microbt Amid Ongoing Power Tussle, Says Report appeared first on Bitcoin News. View the full article

Eighteen housemates of Nigeria’s version of Big Brother took part in a bitcoin quiz with each participant getting $500 worth of BTC as prize money. Big Brother Naija (BBN) reportedly agreed to this unusual step as part of moves to offer more than just entertainment to its audience. As part of BBN’s in-house quiz segment tasks last week, housemates took part in activities that tested their knowledge of cryptocurrencies. Housemates had to tell the audience some of the use cases for bitcoin such as airtime top-up and online payments. Additionally, housemates had to participate in a challenge to create original radio jingles. According to one media report, “housemates had to answer questions like what is a bitcoin wallet? or how is the price of bitcoin determined?” Housemates had to name the top five leading cryptocurrencies as well. Finally, the housemates were made to draw sketches that “depict a bitcoin wallet.” BBN Season 5, Bitcoin episode. After declaring all housemates winners, the segment sponsor Patricia, a cryptocurrency exchange that operates in Nigeria and Ghana, gave each participant a card loaded $500 BTC. BBN’s excursion into cryptocurrency in partnership with Patricia, represents an important step in Nigerian efforts to increase awareness. The country is already Africa’s single biggest cryptocurrency market whose traded volumes dwarfs that of the nearest rival. As data from peer to peer trading platforms shows, Africa’s most populous country accounts for more than 50% of traded volumes. Meanwhile, some observers in Nigeria believe the use of BBN, the biggest reality TV show in Nigeria, to woo new users is a masterstroke. Senator Ihenyen, a lawyer and General Secretary with the Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN), is one of those who share this belief. BBN Season 5, Bitcoin episode. Ihenyen starts by pointing to BBN’s massive reach as one of the reasons he is optimistic about the potential effect of the bitcoin quiz. In the past season, the BBN show garnered a total 240 million votes and 50 million of those came in the final week alone. In his comments on the BBN show’s impressive numbers, Ihenyen also reveals that “at the heart of Big Brother Nigeria is the youth— Nigeria’s army of youths running into tens of millions.” He adds that it is “a show that greatly appeals to millions of young people in Nigeria. There is no doubt that the cryptocurrency quiz would make those who didn’t know anything about cryptocurrencies to become inquisitive. I see Google search for bitcoin in Nigeria increasing.” Ihenyen also commends the quiz sponsor, Patricia for taking an unusual approach in its campaign to bring bitcoin to the masses. He says: Definitely, the Big Brother Nigeria quiz contest will boost cryptocurrency awareness and adoption in and outside Nigeria. Especially when one considers that mainstream media rarely air programs or shows about cryptocurrencies, the approach adopted by Patricia, the obvious sponsor of the quiz competition, was simply brilliant. It did not only help put its brand in the face of millions of viewers but also helped boost crypto awareness amongst viewers. This will definitely impact adoption. Finally, Ihenyen says he imagines that “these contestants might end up boosting cryptocurrency adoption more by getting involved in some form of cryptocurrency activities.” What do you think about the quiz move by BBN? Share your thoughts in the comments section below. The post Big Brother Nigeria Housemates Participate in Bitcoin Quiz, Get $500 BTC as Reward appeared first on Bitcoin News. View the full article

On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is “largely uncorrelated to other asset classes” like commodities and traditional stocks. Coinshares Investment strategist James Butterfill published a new report on August 18 that shows bitcoin (BTC) is establishing itself as an investment store of value. Butterfill’s report notes that BTC is “less correlated to the economic cycle” and the crypto asset is uncorrelated to other asset classes in the investment world. One of the trends highlighted is how investors holding BTC for one year or longer jumped from 30% in 2012 to 60% in 2020. Butterfill writes that Coinshares researchers “believe this trend of investor participation is likely to continue.” “Since its creation following the financial crash in 2008, Bitcoin has seen meteoric – and volatile – growth,” the Coinshares report called “Bitcoin – In a Class of its Own” states. “Many attempts have been made at boxing in bitcoin into the pre-existing frameworks of current asset classes, but due to its unique collection of similar yet often non-overlapping attributes, it never quite fits any established mould.” Butterfill’s report adds: Bitcoin perception is changing over time, its image as a money-laundering vehicle has subsided, with investors now taking a much keener interest in it. News story counts of potential money laundering were much more prevalent in 2013-14 but have since subsided, while counts of Bitcoin as an investment have become more of a focus. Butterfill details that during the early days (growth phase), BTC behaved much like a tech stock, but going forward researchers at Coinshares think “bitcoin will act more like a store of value (SoV).” However, Butterfill’s report recognizes that in contrast to SoVs like gold and other precious metals, BTC offers other beneficial functions. The Coinshares Investment strategist pointed to the fact that the crypto asset offers programmable money functionality, the securitization of digital ownership, and traceable recordkeeping with immutability. On Tuesday morning (Eastern Standard) the price of bitcoin (BTC) touched a high of $12,473 before plummeting to a low of $11,800 temporarily. Crypto traders are still bullish after the recent -5.3% dump and many expected the drop to happen prior to its fall. Bitcoin has performed much differently than precious metals markets and traditional equities. The Standard & Poor’s 500-stock index (S&P 500) has jumped over 50% since the mid-March market rout, otherwise known as ‘Black Thursday.’ This week the S&P 500 touched its first all-time intraday high in the last six months. Despite equities and the S&P 500’s recent performance, Coinshares does “not believe bitcoin fits any currently established asset class moulds.” “Because of its characteristics (scarcity, liquidity, high uptime), evidence suggests investors are increasingly using it as a store of value,” Butterfill’s report concluded. “This has started a self-reinforcing process of financialisation which we believe will lead to increasing use as a store of value.” What do you think about the assessment from Coinshares Investment strategist? Let us know what you think in the comments section below. The post Report: Bitcoin Untied from the Economic Cycle, ‘Largely Uncorrelated to Other Asset Classes’ appeared first on Bitcoin News. View the full article

Warren Buffett has changed his mind about gold as an investment, prompting some people to think that he might do the same with bitcoin. Max Keiser has predicted that the Berkshire Hathaway CEO will panic-buy bitcoin at $50,000. Buffett Changes His Mind About Gold, Bitcoin Could Follow Billionaire investor Warren Buffett had always held a negative view on gold as an investment. He previously said repeatedly that he preferred to buy shares of good companies instead of any gold investments. That has changed, however. Buffett’s company Berkshire Hathaway revealed Friday that it had dumped bank stocks and took a position in a gold miner. The price of gold recently spiked to more than $2,000 an ounce. Berkshire Hathaway closed position in Goldman Sachs completely, reduced position in JP Morgan Chase by 61%, and sold holdings in Wells Fargo and PNC. Instead, the company bought a stake in Barrick Gold, one of the top gold mining firms, sending the miner’s shares soaring Monday along with shares of its competitors. Another investment the Oracle of Omaha made no secret of disliking is bitcoin. In 2018, he referred to the cryptocurrency as “rat poison squared.” In February, he had lunch with Tron founder Justin Sun and several other crypto companies’ executives. Sun gifted him his first bitcoin, stored in a Samsung Galaxy Fold phone. However, the billionaire investor donated it to a charity and emphasized that he will never own bitcoin. Nonetheless, Buffett’s changed stance on gold has made people in the crypto sector wonder if he will do the same with bitcoin. Jason Williams, Morgan Creek Digital co-founder, tweeted Saturday: Buffett sold banks and bought gold. He will buy bitcoin soon. While a few people in the crypto niche saw Buffett’s change of heart on gold as bullish for bitcoin, many on social media still do not believe he will ever invest in BTC. One Twitter user opined, “He doesn’t understand technology but he’s old like gold so that makes sense.” Another suggested that he is too stubborn to buy bitcoin. “His pride is far more valuable to him,” a third user concurred. A few believe that the Berkshire Hathaway CEO has already been secretly invested in bitcoin. Gold bug Peter Schiff was upbeat about “Buffett finally buying a gold stock,” he tweeted, adding: “Warren Buffett knows inflation is a tax. If you don’t want to pay the tax, buy gold or gold stocks, just like Buffett did.” Some people tried to guess at which price level Buffett will start buying bitcoin. Popular television personality and bitcoin proponent Max Keiser sees Buffett’s gold investment as positive for bitcoin. Believing that the Berkshire Hathaway CEO will start panic-buying the cryptocurrency at $50,000, the same level he feels would entice Schiff and veteran investor Jim Rogers, Keiser tweeted: Warren Buffett will start panic-buying bitcoin at $50,000, just like Peter Schiff. Do you think Warren Buffett will change his mind about bitcoin? Let us know in the comments section below. The post Warren Buffett Changes Mind on Gold: He Will Panic-Buy Bitcoin at $50K, Says Max Keiser appeared first on Bitcoin News. View the full article

Torrential downpours of nonstop rain have been wreaking havoc in China’s Sichuan province, which has caused some operations to shut down ASIC mining devices. Reports from the region show that certain areas have seen electrical shortages and the aftermath is causing quite a bit of stress for Chinese bitcoin miners. Not too long ago, news.Bitcoin.com reported on the rain issues in Asia, as a myriad of countries have been dealing with the crazy 2020 monsoon season. Our newsdesk also reported on the alleged problems with the beleaguered Three Gorges Dam. During the last week, China has seen some of the worst flooding in over 70 years. Now the prolonged rain has caused flooding and landslides in 17 counties surrounding China’s Sichuan province. Sichuan is dealing with serious flooding because it sits on the upper reaches of the Yangtze River. China’s Sichuan province has seen the worst flooding in over 70 years. China is home to a great number of the world’s bitcoin miners (50%) and Sichuan commands the densest region of bitcoin mining facilities in the country. The rainfall and electrical shortages have been terrible for bitcoin miners causing a number of operations to temporarily halt mining. Two videos shared by the mining operation Poolin last year on August 21, 2019. Regional reports indicate 2020’s flooding is far worse than last year’s mudslides and excessive water levels. The Chinese mining operation, Poolin, which commands the largest percentage of BTC hashrate today, shared videos of similar floods and mudslide devastation last year. “A local mining farm based in Sichuan, China was devastated by the recent heavy rainfall in the region,” Poolin tweeted sharing a video of the situation in August 2019. The mining pool shared another recording of a Chinese worker trying to salvage bitcoin mining rigs from the mud. “Clip of personnel digging out miners from the mud,” Poolin said during the floods last August. On Tuesday, Poolin again shared another video clip of a mining farm being ravaged during this year’s nonstop rain in Sichuan. A mining farm located in the Sichuan region has been hit HARD by the recent floods: pic.twitter.com/bwajpYqwEh — Poolin (@officialpoolin) August 18, 2020 Local reports this weekend say that the monsoon season this August is much worse than last summer’s flooding in Sichuan. On Monday, news.Bitcoin.com reported on the BTC hashrate touching 130 exahash per second (EH/s). But now some of the top mining pools in China are seeing 10-15% losses in hashrate. Pictures show that more than half of Guidezhen is underwater as the region is submerged in flood waters. BTC hashrate is hard to measure and most analytical sites measure the rate every 1-2 days. However, stats from fork.lol measure the BTC hashrate in exahash per second with 12, 6, and even 3-hour averages. Metrics show that the SHA256 hashrate saw a loss of 15-30 EH/s during the continuous rainstorms in Sichuan. One stat shows the hashrate dropped as low as 101 EH/s during the early morning hours (ET) on Tuesday morning. At around 4:30 a.m. ET, the BTC network hashrate touched a low of 101 exahash per second according to fork.lol stats on Tuesday. Roughly 10 mining pools lost hashrate during the last 24 hours including top Chinese pools such as Antpool, Poolin, F2pool, Huobi, and Viabtc. The mining pool 58coin&1thash lost a whopping 33% of hashrate during the last 24-hours taking the biggest hit on Tuesday. Stats show the top mining pool in terms of hashrate during the last seven days, Poolin lost over 15% during the overnight. Poolin is still the top mining pool with over 16EH/s and 762,531 workers according to the pool’s hashrate data. On Saturday, August 15, the Changjiang Water Resources Commission (CWRC) issued dire warnings about major flood levels and reports say water inflow reached 62,000 cubic meters per second. Some of the worst devastations affected Neijiang City’s Zizhong County, Wenchuan county, Mianyang City’s Santai County, and more than half of Guidezhen is underwater. Over three dozen rivers and tributaries have exceeded flood levels not seen in decades. What do you think about the flooding in China affecting bitcoin miners in Sichuan province? Let us know what you think about this subject in the comments below. The post Excessive Flooding in Sichuan Causes 20% Hashrate Losses for Chinese Bitcoin Miners appeared first on Bitcoin News. View the full article

Major U.S. financial services company Capital One has filed a new patent application for a cryptocurrency analysis and trading system that will attempt to predict crypto market trends and generate trading decisions using artificial intelligence (AI). Capital One’s Cryptocurrency AI System The United States Patent and Trademark Office (USPTO) published a patent application on Aug. 13 for a cryptocurrency system filed by financial services company Capital One Services. It is a continuation of Capital One’s system patented in June. Capital One Services is affiliated with Capital One Bank, a subsidiary of Capital One Financial Corp. The corporation had $304.2 billion in deposits and $421.3 billion in total assets as of June 30. A Fortune 500 company, Capital One trades on the New York Stock Exchange (NYSE) under the symbol COF. Capital One explained that cryptocurrencies trade 24/7 so traders need to monitor information from many sources all day. Numerous factors could affect trade decisions, including regulatory and exchange news, stock market news, rumors, and opinions on social media such as on Twitter, Reddit, Youtube, and Telegram. There are also events that could affect the market, such as initial coin offerings (ICOs), forks, airdrops, hacks, rebranding, and company future plans. Capital One asserted that “it would be impossible for human traders to track all of the above-mentioned cryptocurrency-related data and respond to that data in real time.” It would also be impossible to verify the credibility of the information in real time, the company added, noting: Accordingly, there is a need for a centralized platform that analyzes speculation, news, and other cryptocurrency-related information as well as provides a recommendation and/or implements the provided recommendation. The patent application describes a system with “a credibility analysis engine configured to determine the credibility of the cryptocurrency-related information,” with weighting assigned. It also describes an AI engine “configured to predict a cryptocurrency market trend based on … all received information and corresponding weighting.” In addition, it can be configured to generate and execute personalized trades automatically based on predicted crypto market trends. An illustration of Capital One’s crypto system for analyzing cryptocurrency-related information. Source: USPTO The eight modules shown in the illustration — cryptocurrencies market, social media, event, cryptocurrencies company, user, regulation, fiat currency, and traditional data modules — may receive different types of crypto-related information, the filing notes. Cryptocurrency-related information includes “speculation, rumors, opinions, and other information posted on social media,” the patent application details. For example, the information may be “an influencer’s opinions, recommendations, predictions, etc.” The system may evaluate the information and give corresponding weightings based on the popularity of the social medial post as well as the poster using data such as “views, likes, dislikes, comments, shares, retweets, and reposts.” After analyzing, the system will “generate market predictions based on initial hypotheses and weights,” and can execute personalized trading decisions. The full patent which details the entire system can be found here. What do you think Capital One will do with this crypto prediction and trading system? Let us know in the comments section below. The post Capital One Files Patent for Cryptocurrency Market AI Prediction System appeared first on Bitcoin News. View the full article

The province of Sichuan is well known for being one of the largest concentrations of bitcoin miners on earth because electrical costs are extremely cheap in the region. Data shows that miners using hydropower in Sichuan are paying between 0.065-0.075 yuan or $0.01 per kilowatt-hour. According to regional reports, a number of enterprises that mine bitcoin have been approved to leverage hydropower consumption in the province. Last April, news.Bitcoin.com reported on the local government of Ya’an city, in China’s Sichuan province, revealing that it wanted bitcoin miners to leverage the cheap electricity offered by the region’s rich hydropower resources. The government’s encouragement was a stark contrast to how Sichuan lawmakers felt about mining in 2018. However, the Sichuan governments seem to want to create an approval program, as China’s State Grid has been complaining about the excessive use of electricity in the country. On August 14, the financial columnist from China, Vincent He, detailed that miners who are not approved by the local governments but get direct power supply of hydropower stations “will be restricted.” Moreover, thanks to the extremely warm temperatures in Sichuan this season, power consumption has peaked and a number of farms have been shut down by the local governments. China’s province of Sichuan undoubtedly is the largest concentration of bitcoin miners on earth, as mining operations from Sichuan leverage hydropower plants for electricity, which gives them an average rate of $0.01 per kWh during the wet season. The very same day the reports came out threatening unapproved bitcoin miners getting a direct power supply of hydropower stations, a small batch of approved enterprises got the green light. Lylian Teng reports that China’s Sichuan province has “recently revealed the second batch of demonstration enterprises for hydropower consumption.” Teng notes that these companies are registered under blockchain firms but in reality, these companies are merely bitcoin mining farms operating in Sichuan. She also notes that the second batch of approved miners follows the first batch approval from the local government of Ya’an city. Teng says miners in Sichuan are paying for much cheaper electricity rates compared to the worldwide average. Teng insists that Chinese miners in Sichuan during the wet season get 0.065-0.075 yuan or $0.01 per kilowatt-hour. She detailed that the Sichuan government’s recent approval is aimed at bolstering “local economic development via the compliant use of hydropower.” The local report concludes by mentioning that Sichuan captures roughly 30 billion kilowatts a year. The zone in Sichuan with government approval could consume around a sixth of the aggregate 30 billion kilowatts. “This figure is expected to double next year as compliance progresses,” Teng conceded. What do you think about Sichuan province officials encouraging bitcoin mining? Let us know in the comments below. The post Sichuan Officials Continue to Foster the Relationship Between Bitcoin Mining and Hydropower appeared first on Bitcoin News. View the full article

A new poll finds that 72% of bitcoin investors are bullish about the cryptocurrency and will hold onto it even if the price somehow falls to zero. A total of 22,635 votes were gathered for this survey. Most Bitcoin Investors Would Hodl Regardless of the Price Twitter user Plan B, known for his stock-to-flow price prediction model, has conducted a Twitter poll to establish when bitcoin investors will sell their BTC if the price does not increase. The poll concluded on Saturday and 22,635 votes were counted in total. “You are probably bullish on bitcoin but what if BTC price does not increase sharply next years? When will you sell?” Plan B asked his followers. Among respondents, 72.1% answered that they will hold onto their BTC regardless of the price, riding it to $0 if needs be. The next most popular option was to sell bitcoin when the price falls below $6,000, which 16.2% of respondents chose. Meanwhile, only 5.9% chose to sell when the price falls below $3,000 and 5.8% chose to sell when the price drops below $1,000. “Super proud that 72% of my followers are hard core hodlers,” Plan B commented on the outcome. “Bitcoin goes to $million+ or to ‘zero’ and we ride it all the way. Vision, conviction and patience is the name of the game. Even if there is only 1% chance of $1 million BTC, it is worth it (the option argument).” Some people volunteered their reasons for hodling BTC even if the price spirals downward. “I’m bullish on bitcoin. But even if it goes close to zero, I’ll still hodl or buy more, it’s a non correlated asset (hedge) for all my other investments/capital,” one Twitter user wrote. Another noted that when bitcoin becomes “the defacto global reserve there is no reason to sell, only to use.” Some argued that it is “highly unlikely” that the price of bitcoin would not increase while others said they will “buy the dip,” scooping up cheap BTC if the price tanks. At the time of this writing, the price of bitcoin stands at $12,251. Last month, gold bug Peter Schiff conducted a similar survey. “How much longer does the price of bitcoin have to say below $10,000 before you will throw in the towel and sell?” Schiff asked his followers. Out of 28,168 total votes, 57.5% of respondents chose “I’m taking it to my grave.” Investors’ faith in the price of bitcoin has been growing as evidenced by two other polls Plan B conducted, one in July and the other in August. In both polls, Plan B asked his followers what they thought the price of bitcoin will reach before December this year. In July, 43% of respondents believed that the price would stay below $55,000, but in August only 30% believe this to be the case. A significantly larger portion of respondents in the August poll believe that the price of bitcoin will reach $288,000. Meanwhile, a growing number of institutional investors are buying bitcoin. Nasdaq-listed company Microstrategy announced last week that it had purchased $250 million worth of bitcoins. Recently, the U.S. Office of the Comptroller of the Currency (OCC) clarified that national banks and federal savings associations are authorized to provide custody services to customers. How far does the price of bitcoin have to fall before you sell? Let us know in the comments section below. The post 72% of Investors Will Hold Bitcoin Even if Price Falls to $0 appeared first on Bitcoin News. View the full article

The United States Postal Service (USPS) is falling apart at the seams and many Americans are blaming the Trump administration. The USPS may have to deal with the U.S. election ballot process, as mail-in votes may be the dominant practice thanks to the coronavirus. Amid the American public’s concerned reaction about the internal problems at the USPS, on August 13, the postal entity published a patent for a blockchain-based mail-in voting system. Every single day on social media and Reddit forums, users in the United States are discussing the United States Postal Service (USPS) and how the operation might be in ruins. Americans are beginning to realize on a nationwide scale that the USPS is financially broke and not sustainable. On social media, U.S. citizens are sharing images of locked letter stations and mailboxes being carted away on flatbeds. The Trump administration’s Postmaster General Louis DeJoy also made a decision to remove hundreds of high-volume mail-processing machines nationwide outraging Democrats. Democrats have accused President Donald Trump of “dismantling” the United States Postal Service (USPS) prior to the election as many understand that a mail-in voting scheme will be adopted. Many Americans are aware that mail-in voting most likely will be the most dominant method used this November during the U.S. 2020 Presidential Election. Trump has explained to the media on a number of occasions that it’s likely the voting process will go down in this manner. DeJoy’s recent moves make some people believe that voter suppression is happening and a left-leaning direct action organization called “Shut Down D.C.” has organized a protest outside the Postmaster’s home. However, President Trump commended the Postmaster’s recent moves and said DeJoy “wants to make the post office great again.” Amid all the indignant complaints from Democrats, the USPS seems to be moving toward leveraging blockchain technology in a new mail-in voting patent published last Thursday. Even when the USPS was in better standards than it is today, voters complained that the mail-in voting system was riddled with manipulation. Postmaster General Louis DeJoy is not liked by members of the political left and he is also accused of owning $30M in equity in a USPS contractor and owns stock options in a USPS competitor business. DeJoy and the USPS Washington headquarters’ office published a patent for a blockchain mail-in voting scheme on August 13, 2020. This is due to the fact that investigations have found dogs and even dead people allegedly ‘voted’ in prior U.S. presidential elections. The patent published on the United States Patent and Trademark Office (USPTO) is called “The Secure Voting System.” “Often a voter is not able to or does not desire to go to a polling place to cast a vote,” the USPS patent description notes. “An election official in a jurisdiction may wish to send secure ballots via mail. Or, a jurisdiction may opt to utilize electronic resources for voting. In such cases, a secure voting system is desired.” The patent description also adds: A voting system can use the security of blockchain and the mail to provide a reliable voting system. A registered voter receives a computer-readable code in the mail and confirms identity and confirms correct ballot information in an election. The system separates voter identification and votes to ensure vote anonymity, and stores votes on a distributed ledger in a blockchain. The patent is 47 pages long and contains a myriad of diagrams detailing how the blockchain-based mail-in voting system would work theoretically. The USPS “Secure Voting System” patent that leverages blockchain technology. “The security of a voting system can be increased by using the dependability and security of the United States Postal Service or similar entity,” the USPS patent details. “And this can be incorporated with a secure computer system using a blockchain or distributed ledger to ensure vote security and to prevent tampering or modification of electronic voting results.” No one truly knows if the blockchain system can be implemented in time by the November election, but people do think that it is highly coincidental the USPS would publish this patent just a few months prior. The USPS “Secure Voting System” patent that leverages blockchain technology. Postmaster General Louis DeJoy and the USPS could deploy a blockchain system if there is enough demand for it, but many believe it may be too late to deploy such a system. DeJoy must appear before a hearing by the House Oversight Committee with the U.S. Postal Service Inspector General Tammy Whitcomb on September 17. The U.S. Sen. Elizabeth Warren (D-Mass.) and other Democrats created this hearing in order to address the USPS leader’s alleged internal problems. Even the House Oversight Committee may not be enough, as it will happen only a few weeks before the U.S. election. This has invoked the Speaker of the House, Nancy Pelosi, and other House Democratic leaders, to call for an earlier meeting before September 17. Pelosi and other bureaucrats may attempt to meet this week in order to address the USPS issues. A House Democratic aide told the newsdesk Axios that the Democrats perceive the current issues with the USPS a “crisis,” and the complaints mostly revolve around the handling of the mail-in vote scheme. It’s fairly understood that a mail-in voting method for the 2020 U.S. election will happen, but whether or not the USPS and other entities leverage blockchain seems to be being discussed by central planners. Meanwhile, the 2020 U.S. election is only 77 days away and time is running out. What do you think about the U.S. possibly leveraging blockchain technology for the 2020 U.S. Election? Let us know what you think about this subject in the comments section below. The post Amid US Postal Service ‘Crisis’ USPS Files Patent for Blockchain Mail-in Voting Scheme appeared first on Bitcoin News. View the full article

Grayscale Investments’ Litecoin Trust (LTCN) and Bitcoin Cash Trust (BCHG) have received DTC eligibility on Monday, which means the shares can begin trading publicly. The firm’s latest funds give investors exposure to the crypto assets bitcoin cash and litecoin and shares will be traded via secondary markets. Both LTC and BCH supporters were pleased to hear that Grayscale’s new crypto trusts met DTC eligibility on Monday, August 17. This means eligible investors can gain access to these two trusts and invest in them like other types of securities. Essentially, DTC eligibility means that the securities, in this case, LTCN and BCHG are able to be pledged through the DTC. It is by far the largest securities depository in the world managing $35 trillion worth of securities on deposit. Investors can now gain exposure to these crypto assets by investing in eligible shares. The Bitcoin Cash Trust will be available to trade on over-the-counter (OTC) markets according to the announcement, and shares will leverage the ticker symbol: BCHG. Eligible Shares of Grayscale Investments’ Litecoin Trust will be available to trade on OTC markets under the symbol: LTCN. “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of each Trust’s underlying assets through an investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly,” explains Grayscale. Grayscale’s announcement noted that the trusts saw private placements in March 2018, and shares drafted through each trust’s respective placement are available to sell into the public market. However, Rule 144 of the Securities Act requires a “statutory one-year holding period.” As of July 31, 2020, there were 6,028,000 shares outstanding of BCHG and each share represented ownership of 0.00941311 bitcoin cash,” Grayscale’s announcement on Monday states. “There were 2,500,800 shares outstanding of LTCN and each share represented ownership of 0.09413112 litecoin,” the press release adds. Grayscale Investments’ announcement on Monday further concludes: All investors with access to U.S. securities will be able to buy and sell freely-tradable shares of BCHG and LTCN through their investment accounts in the same manner as they would other unregistered securities. What do you think about Grayscale’s new litecoin and bitcoin cash investment products? Let us know in the comments section below. The post Bitcoin Cash and Litecoin Trusts from Grayscale Investments Begin Trading appeared first on Bitcoin News. View the full article

Cryptocurrency exchange Okex reveals it suffered the $5.6 million loss as a result of the double-spend carried out by the attacker(s) in Ethereum Classic 51% attack. Okex says it fully absorbed the loss as per its user-protection policy while insisting that the attack did not cause any loss to the platform’s users. Also as part of its immediate responses to the attack, the OKEx team said the “exchange had suspended deposits and withdrawals of ETC to prevent further losses.” A total of five accounts on the exchange had been used in the attack and now the Okex team says it has “suspended the five accounts to prevent further incidents.” Immediately following the attack, ETC developers initially downplayed the event by characterising it as an “accident.” At the time, the developers doubted if any major double-spend attacks had occurred. However, an investigation by a blockchain analysis firm later revealed the “accident” was, in fact, a 51% attack, and that $5.6 million had been stolen. At the same time, reports linking Okex wallets to the incident also surfaced. Responding to these reports in a blog, the Okex team clarifies that the “exchange was only involved in that the attacker(s) used the exchange to purchase and trade ETC.” The Okex team also believes the exchange was targeted probably because it “provides excellent ETC liquidity, seeing some of the largest ETC transaction volumes in the industry.” The blog report suggests that “the attacker(s) likely calculated that they would be able to relatively easily and promptly trade large amounts of ETC on OKEx.” Regarding more steps it will take, the Okex team said: “Additionally — given OKEx’s responsibility to protect users from similar incidents that threaten the security of their funds — the exchange will consider delisting ETC, pending the results of the Ethereum Classic community’s work to improve the security of its chain.” However, the blog post does not give a specific time frame when the ETC community is expected to improve this. Meanwhile, in his comments on the attack, Tim Ismilyaev, CEO and Founder at Mana Security, says such incidents are “common for less popular blockchains, ETC can’t fix it without significant amendments into their architecture.” Ismilyaev also offers his view on why Okex still suffered the loss even after the ETC team had advised exchanges to halt deposits and withdrawals soon after the attack. Ismilyaev explains: ETC’s advice was released after the attack occurred, so Okex couldn’t stop the withdrawal of stolen funds. Noteworthy, the attacker most likely knew how Okex risk management systems work. It allowed him to withdraw stolen funds without being detected. That’s why he deliberately traded assets only on OKEX rather than splitting funds across multiple exchanges to hedge the risks. With one exchange, Kucoin having delisted ETC margin trading from its platform, the ETC team faces increased pressure to address the security challenges or face more delistings. Can the ETC team solve the security challenges in time before another delisting? Share your thoughts in the comments section below. The post Ethereum Classic 51% Attack: Okex Crypto Exchange Suffers $5.6 Million Loss, Contemplates Delisting ETC appeared first on Bitcoin News. View the full article

Announcing the official launch of $RMPL, an ERC20 cryptocurrency with an elastic supply model, redesigned to solve unfair market manipulation and exploitation. $RMPL is currently on Uniswap, and will soon be released on several popular cryptocurrency exchanges. RMPL is a decentralized finance (DeFi) protocol developed with an elastic supply model. The total supply of RMPL constantly changes via a randomized rebasing that adjusts the supply at a random time 0 to 48 hours after the previous rebasing. This randomized rebasing prevents the price manipulation and exploitation of these events by bots or whales, solving the problem that arose when rebasing followed a strict schedule, taking place at the same time every day. Whereas scheduled rebasing creates an unprofitable and monopolized environment for the majority of the user base, randomized rebasing keeps the volatility in the token supply, not the price. The base price target of $RMPL starts at 1 USDT with double the monthly adjustments for dollar inflation. This creates a more attractive coin to hold onto longer. Owning RMPL means owning a percentage of the network. As the market cap rises, so do the shares. “Unlike some of our competitors who have gotten so big, they have no room to grow, $RMPL will open at a cost low enough for most users to invest at the ground level,” commented Ed E, co-founder. “And with its randomized rebasing, no one can preemptively manipulate the price.” After its launch on UniSwap on Aug 2, 2020, $RMPL users traded over $8,000,000, netting it the honor of second place for 24-hour volume on the Ethereum-based exchange. To view on Uniswap, click here. Upcoming RMPL announcements: Exchange listings are currently being worked on and will be available in the coming weeks The RMPL Cradle will launch later this month, offering a solution to incentivize liquidity provision on Uniswap For more information on RMPL, visit https­­­://rmpl.io. About RMPL RMPL is a decentralized ERC20 cryptocurrency with an elastic supply model that reaches supply-price equilibrium based on randomized rebasing. Developed to protect against the market manipulation and bot/whale exploitation that traditional scheduled rebasing encounters, RMPL offers its holders a steady ownership in the network with holdings that rise in value with the market cap. Reject the rigged game and come hold with us at https://rmpl.io. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post $RMPL Launches, Revolutionizing the Cryptocurrency Market with a Decentralized Elastic Supply Model appeared first on Bitcoin News. View the full article

Two U.S. states have issued emergency cease and desist orders to South African firms and a South African national promoting a cryptocurrency debit card scheme. The companies claim that the card is like a traditional Mastercard but the states say the scheme is fraudulent. South African Firms Sanctioned by 2 US States The Texas State Securities Board (TSSB) and the Alabama Securities Commission (ASC) issued emergency cease and desist orders simultaneously to South African firms over a cryptocurrency credit card scheme to defraud investors in their states. The orders name Liquid Gold Trust, Liquidity Card Solution LLC, Liquidity Global Card Solution and Liquid Gold Trust CEO Lance Angus Jerrard. According to the order, the defendants promote the Liquidity Card, which purportedly works with stablecoins: USD coin (USDC), Trueusd coin (TUSD), and PAX coin (PAX). However, the accused claim that “it is a Mastercard that functions like a traditional debit card.” They represent that “cardholders can use the Liquidity Card to receive and spend profits as stablecoins, avoiding taxes that would otherwise be recognized when converting cryptocurrencies to dollars or other fiat currency,” the Texas Securities Board explains, emphasizing: The system only works, however, if the Liquidity companies can recruit new cardholders. They need money to recruit these cardholders. “It supposedly launches in October 2020, with the goal of recruiting 8 million cardholders in 36 months,” the order further explains. “As part of the alleged scheme to fund the marketing campaign, the Liquidity companies are selling 8,400 ‘portions’ in their global project partnership. Each portion costs $1,150 and entitles purchasers to residual income derived from fees paid by cardholders.” The order adds that the defendants claim that investors may receive $1,516.72 per portion per month after 18 months and $5,008.62 per month after 24 months. Furthermore, the profits are purportedly guaranteed. According to the order: The Liquidity companies are even offering investors a 100% written money back guarantee. However, the order shows that the companies are not providing information that shows they can actually repay investors that demand a return of funds. “It’s also fraud,” the Texas Securities Board’s announcement reads. “The Liquidity companies are accused of concealing important information about their relationships, their contracts and their compensation.” In addition, the Board says, “They are also allegedly using stock photographs to depict their offices.” None of the accused is also registered with the two states to sell securities and their investments are not registered or permitted in the states. The parties have 30 days to challenge the entry of the order. What do you think about this crypto card scheme? Let us know in the comments section below. The post South African Firms Ordered to Cease Crypto Debit Card Scheme in 2 US States appeared first on Bitcoin News. View the full article

China’s Ministry of Commerce has announced the pilot run of the country’s central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau. It will also be tested during the 2022 Winter Olympics games in Beijing, the ministry said. China Announces Testing of Central Bank-Backed Digital Currency in Major Cities China’s Ministry of Commerce announced Friday that a pilot run of the country’s central bank digital currency (CBDC) will begin in “Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei region, and Yangtze River Delta region.” According to the ministry, the digital yuan is already under trial in four cities: Xiongan New Area in North China’s Hebei province, Shenzhen in South China’s Guangdong province, Suzhou in East China’s Jiangsu province, and Chengdu in Southwest China’s Sichuan province. It will also be tested during the 2022 Winter Olympics games in Beijing, and be expanded to other regions as appropriate, the ministry added. “The rollout of central bank digital currency is conducive to efficiently satisfying people’s demands for legal tender under the digital economy, to improving the convenience, security and anti-counterfeiting level of retail payment, as well as accelerating the development of the country’s digital economy,” Yi Gang, governor of the People’s Bank of China (PBOC), previously explained. China’s four major state-run commercial banks have also started large-scale internal testing of a digital wallet app, the official electronic communication website of the State Council of the People’s Republic of China detailed on Friday. Bank of China, China Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China are piloting the digital renminbi with the central bank in major cities, including Shenzhen. The announcement describes: Users in the trial can use the digital wallet to top up accounts, withdraw money, make payments, and transfer money after registering with their mobile phone number. The banks are also testing a scenario where users can transfer money without internet. As news.Bitcoin.com reported, companies that have reportedly been testing the PBOC-backed digital currency include Chinese vehicles for hire company Didi Chuxing, McDonald’s, Starbucks, Subway, JD Supermarkets, Tencent, and Ant Financial. What do you think about China’s digital yuan? Let us know in the comments section below. The post China Testing Digital Currency in Major Cities, Including Beijing and Hong Kong appeared first on Bitcoin News. View the full article

Bitcoin Press Release: ClinTex announce details of their CTi Token Presale, which will give participants access to the $350bn/year Clinical trials market with a 50% price discount until 25th September 2020. 17th August 2020, London, United Kingdom – With the current global pandemic sweeping the globe, the fiscal impact can be seen everywhere, and in industries once considered safe havens, impacts expected to last a decade are commonplace. From the tech moguls of Silicon valley, to the high-tech production centres of Europe, It is clear that the world is crying out for innovation in a time where opportunities are few and far between. To this end, London-based company ClinTex says it has the answer to a disempowered financial ecosystem. It looks perfectly poised to provide a solution not only to medical patients worldwide, but the healthcare industry as a whole and of course, to provide a potentially amazing return to its stakeholders through its CTi token pre-sale, which is currently ongoing. Pharmaceutical Industry Inefficiencies The value proposition for ClinTex lies in one simple observed fact – For an industry which is considered cutting edge, the Pharmaceutical industry is fraught with inefficiency. In such a notable time for health globally, these inefficiencies are having widespread consequences: Large Time Delays – A promising medicine can take up to 15 years to get to patients, with untold amounts of heartache and emotional trauma for families and individuals alike. The CTi platform will help issues to be detected and prevented generating millions in savings. High Testing Cost – It now costs over $2,500,000,000 to get a drug to market, with every day in clinical trials costing up to $8,000,000 in revenue erosion for each day a new medicine is delayed – And that cost gets passed onto the patient. CTi will vastly reduce costs, helping deliver medicines not just faster, but cheaper to those who need it. Poor Data Quality – With the Clinical Data Visualisation App in CTi, fundamental and systemic errors in data can rapidly be detected and addressed, leading to greater insights and far better data application. Developments like this lead to greater industry progression long-term. Little-To-No Collaboration – Currently, there exists almost no collaboration between industry players. This problem has been been magnified with the covid-19 pandemic. The opportunities for efficiency by extracting the intelligence and insights inherent in clinical data across the globe are many – This is perhaps one of the largest benefits – As the ecosystem grows in value, more partners sign up, and the value increases. COVID-19 & CTi – Returns to Rival DeFi? With the current pandemic raging on, and 142 COVID-19 vaccines currently awaiting trials, there has never been a better time for CTi’s implementation in the industry. We are already seeing haphazard attempts at research collaboration in the hunt for a COVID-19 vaccine and treatments. And with these spends potentially reaching into the trillions, CTi could represent the next generation of innovative profits to follow DeFi in re-igniting the crypto wave not seen since the ICO boom of 2017. The CTi token pre-sale runs until 25th September 2020, and CTi can be purchased for a 50% discounted price of 0.05$ by visiting this link. $1m USD in CTi is available for purchase, which is equivalent to 10% of the total CTi supply. Leftover tokens will be burned, and the main sale commences in October 2020 where tokens will be available for $0.10. ClinTex is doing what all companies strive to do in times of hardship – To innovate. And with a market valued at $350,000,000,000 per year, the possibilities are endless. Now is the time. Be a part of this exciting project and enjoy discounts on one of the industry’s most promising projects this year by visiting the CTi token presale link now. ClinTex Website: https://www.clintex.io/ ClinTex Telegram: https://t.me/ClinTexCTi ClinTex Twitter: https://twitter.com/ClinTexCTi ClinTex Medium: https://medium.com/@clintexcti Media Contact Details Contact Name: Sean Flanagan Contact Email: info@clintex.io ClinTex is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The ClinTex token sale is closed to US participants and participants of all countries in which ICO/IEOs are illegal. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose. About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post ClinTex’s Ongoing CTi Presale Gives Unparalleled Access to the $350bn Medical Trials Market appeared first on Bitcoin News. View the full article

Bitcoin’s seven-day average hashrate has reached a new all-time high of 130 exahash per second (EH/s) – a feat that might positively influence the asset’s price, while adding to the fundamental strength of the Bitcoin network. According to the latest data from charts.Bitcoin.com, the previous peak of about 127 EH/s was recorded on July 28. The Bitcoin (BTC) hashrate dropped sharply after the last halving on May 11, falling to about 90 EH/s, as miners with old, inefficient mining rigs closed shop. However, the decline was quickly reversed as miners re-entered the network. Bitcoin’s scheduled supply cut reduced miner bonuses by 50% to 6.25 BTC per block. Overall, the processing power of Bitcoin has grown by more than 77% since August 10, 2019. Bitcoin (BTC) global hashrate according to data from charts.Bitcoin.com on Monday, August 17, 2020, at 9:00 a.m. ET. Hashrate is a measure of the power of the computers linked to the Bitcoin blockchain, which determines their ability to produce new coins. Increasing hash power suggests miners are optimistic about making profits. This might as well influence the price of bitcoin higher, given the strong correlation between the two. But the relationship is not exactly as linear, because it is difficult to gauge future price changes based on hashrate alone, so things can turn out differently. The good thing is that when miners commit more computing power to process bitcoin transactions, that helps secure the network against 51% attacks – a situation that could allow rogue miners to hijack the system and double-spend some coins. At the time of writing, each BTC is trading for $11,888, up 1.1% over the last 24 hours, as per data from markets.Bitcoin.com. The top cryptocurrency has struggled to break resistance at $12,000, remaining capped in the $11,200 to $11,800 range for a couple of weeks now. Some pundits expect the price to hit $28,000 by year-end. What do you think about Bitcoin’s rising hashrate? Let us know in the comments section below. The post Bitcoin’s Hashrate Hits Record High 130 EH/s, as BTC Price Faces Resistance at $12,000 appeared first on Bitcoin News. View the full article

Tradingview said Friday that bitcoin and Tesla, the electric car maker and clean energy firm, are America’s most viewed assets on the charting platform. Bitcoin (BTC) has climbed over 60% year-to-date, with the price reaching $11,900 at Press time. The rise has drawn in thousands of new investors – both retail and institutional – to the cryptocurrency. Likewise, Tesla’s share price more than tripled this year, soaring from $402 on January 1 to $1,650, driven by a positive future outlook on the electric vehicles industry. “While publicly traded companies like Apple are nearing a $2 trillion market cap, it looks like traders and investors still aren’t paying that much attention,” said Tradingview, in a statement. “For now, the data clearly shows that Tesla and bitcoin are the two assets everyone is looking at most often,” it added. Throughout July, Tesla was the most viewed stock in 31 U.S. states but bitcoin was not far behind. “Our findings also show the South East favors forex and the West Coast states of California, Washington, and Oregon lean toward bitcoin. The west coast loves crypto the most,” noted Tradingview. Bitcoin has risen sharply in 2020, fuelled by relentless fiat money printing by governments and central banks, keen to keep their economies afloat in the wake of the coronavirus pandemic. Amidst the economic downturn, investors seeking to hedge against inflation have piled into the top cryptocurrency. For example, Nasdaq-listed Microstrategy Inc. this week adopted bitcoin as its primary treasury reserve, spending $250 million on 21,444 BTC. The company described bitcoin as a “dependable store of value…superior to cash.” Tradingview is a cloud-based social platform for traders as well as an independent charting and analysis tool. With millions of users, the platform provides access to educational trading expert ideas and content in the form of notes, charts, pictorials, and videos. Users can also trade and make orders directly on the site. Almost all cryptocurrency exchanges incorporate Tradingview, which makes up the main interface that helps users monitor live crypto activity on an exchange. Additionally, Bitcoin.com’s crypto market aggregator offers professional trading charts that stem from Tradingview. What do you think about the popularity of bitcoin and Tesla on Tradingview? Let us know in the comments section below. The post Bitcoin and Tesla: America’s Most Loved Assets on Tradingview appeared first on Bitcoin News. View the full article

What Is Cryptocurrency? Cryptocurrencies use cryptographic protocols that encrypt sensitive data transfers, to secure their units of exchange. Since they are built on advance mathematics it’s impossible to duplicate or break the currency. In addition to that, identities of cryptocurrency users, their transactions are also masked by these protocols making it more secure. Future growth of cryptocurrencies: In the last 12 months, cryptocurrency exchanges are showing more profit than many banks in Europe, while providing smaller fees to clients, higher earnings for that trading crypto and increased flexibility. This is why banks all around the world are worried, and the bigger the bank, the farther behind they are in updating their policies for crypto. Supply and demand is the reason behind the wealth of cryptocurrency. While banks create money from service fee and interests which limits everyone’s finances. This is why now people prefer cryptocurrency over bank where there is no third party between money transactions. Advantages of Cryptocurrency Following are few advantages of using cryptocurrency. • Easy and flexible Transactions • More Confidential Transactions • Vey Less Transaction Fee • Easier International Trade Introduction to LifetionCoin: LifetionCoin, which is Malliouhana Holdings corporation’s propriety product which has been cooperatively exploited and developed in order to make itself more and more popular ad grown all over the world. LifetionCoin exchange helps our customers to buy, sell or increase their profits with real time exchange rates. Our wallets best ever trading experience, anytime and anywhere. Available on both android and IOS. Right now LifetionCoin is active in 100 countries, which are Italy, Romania, Germany, Spain, France, Portland, Czech Republic, Netherlands, United Kingdom and Ireland.. LifetionCoin has 12,000,000 maximum supply amount and 6,000000 as circulating supply amount. Lifetion Exchange App: Following are few of the features you get in LifetionCoin internal trading platform. • Notice and list if currency pairs traded on the exchange • Authentication of username and password • Filter ledger and detailed transaction history • Deposits and withdraws • Pay crypto/ fiat with wallet / QR address • Integrated payment LifetionCoin MasterCard • Integrated Fiat exchange ( USD, EUR and many more ) • Cold Wallet • Support for 150+ currency pricing options History and Future plan of Lifetion Coin: In 2018, Malliouhana Holiday Company was established to make a major technological reform with its main areas of activities and to develop LifetionCoin algorithm. And right after the next year we brought the LifetionCoin algorithm to the community so that it can become popular across different notions. The first two quarters of this year’s we developed as strong community and with help of that we market this coin across the globe and our marketing strategy has been going successful. Along with that we also developed LifetionCoin wallet and launched its app on both platforms IOS & Android. At the end of Q3 and at the beginning of Q4 in 2020, we officially listed the coin on coinmarketcap and on the exchanges in the world. So far 2020 is going great for LifetionCoin. Our marketing is paying us off as our representatives in various countries are getting good response from audiences. We will be explaining our next five year plan. For next year we are launching MasterCard Coin with which out customers will able to withdraw their money any ATM all over the world at any given time. This service is available for very few coins so far. Not only that we are also planning to expand our exchanged even more. Few to mention are education, clean energy industry and artificial industry. So far there are only few coins having indulge themselves in this sector. So for 2022, we launch our own exchange with LifetionCoin as main currency pair for p2p trading with other currency pairs. We will also give away our own source code that will help users hold sufficient numbers in their wallet, which will keep on rewarding them. In 2023, we will build and develop a proper eco system around LifetionCoin, with much better marketing strategy we will increase our market share and will make our offices all around different countries so that our representatives can cater our customers in much better way. If we go as planned, 2024 will be the year when Lifetion coin will be having major chunk of the market therefor becoming most renown and widely used currency and not only that we will manage to make out trading platform has one of the biggest trading market in terms of volume and users. In 2025 we will be holding stock to the NASDAQ stock exchange, therefor as predicted investors of LifetionCoin and shareholder of Malliouhana holdings will be both rich and successful. With this game plan by this year we will be the top leaders of technology 4.0. Reasons why LifetionCoin will grow strong: 1. Decentralization: Decentralization basically means of distribution and dispersing power away from a central authority. similarly, Lifetion coin is not controlled by any individual or any organization. It runs on block chain basis. Decentralized currency is that type of cryptocurrency that operates in a decentralized way meaning without centralized control. This type of exchange works and allows only peer-to-peer trading. Fir example like PayPal is type of centralized exchange therefore it is controlled by a company or entity however LifetionCoin runs through a blockchain which relies on peer to peer protocol. 2. More Confidential Transactions In a credit system, each time you make a transaction, it becomes a reference document for the bank. Bank can check your credit history whenever they want but in case of cryptocurrency especially Lifetion Coin each transaction that you make with your client is unique which means only both parties know about it and no one else know nothing. So LifetionCoin guarantees your confidentiality 3. Scarcity in Number: Fiat money is infinite whereas crypto currencies just like LifetionCoin are finite this means with passage of time the demand of any crypto increases since its supply is limited. In similar way, the total supply of Lifetion coin is just 12,000,000 LTP and it would take 70 years before it runs out of supply. This means that its demand will increase dramatically since there is only limited amount of supply. 4. Easier International Trade LifetionCoin is not subject to any interest rate, exchange rate or any other type of spefic fee. There might be very low transaction fee. Unlike other credit system where you have to pay so many fee just to send money to other party. 5. Individual Ownership One of the greatest advantages of having LifetionCoin is that you are sole owner of your private and public encryption keys that make your network identity. This gives you more freedom and power to buy or sell through Lifetion Coin more independently without any constraints. 6. High liquidity: Unlike other currencies where you have to go through banks and other paper work all crypto currency including this one is highly liquidate this means You are able to make immediate transaction with peer to peer network, since its decentralized so no authority comes in between two parties which makes the prices more efficient and quick. 7. Affordable and unlimited transaction: You have the ability to transfer your money to wherever you want across the world without limitation about time and amount of money and transaction fee is also almost zero which makes it more reliable and accessible to people. Mining policies: LifetionCoin has seven mining policy category. Before going forward you should know that you will get daily profit by local time UTC, it will be paid in USDT and will be exchanged to LTP automatically. Also important thing to mention is that LTPs are stored in individual’s wallet and sold directly. Now let’s talk about mining policies. Competitive advantage: Through LifetionCoin you can easily earn while you sleep, well you will be surprised. Let’s know how. This type of passive income is actually possible by hosting a master-node also known as bonded validator systems. It is a server that is entirely synchronized with block chain and used by miners to secure block chain. . An income ranging from 2% to 30% portion of every block reward that your master node helped with. The reward can be given monthly, weekly or daily. More resources are required by master nodes like storage space or electricity or memory. The major difference is hosting a masternode is, it can live a chance of earning a passive income to owner hopefully, it gave you enough Knowledge to decide whether you would want to set on up for yourself. It is an expensive investment but it has worthwhile returns. Conclusion: LifetionCoin although had humble beginning but as elaborated with its massive investment plans and marketing strategy soon it will be leading the market, by 2025 we will have major holding of NASDAQ, which will help our investors. Our mission to dominate the market while becoming the biggest trading platform is on its way. LifetionCoin is so far the most attractive cryptocurrency about the platform. We will surely change and dominate the technology 4.0 Contact: Email: support@cointobanks.com Website: cointobanks.com Video: https://youtu.be/-RBv9BZW3AE This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post LIFETIONCOIN Provides Payment Solutions and Worldwide Prosperity appeared first on Bitcoin News. View the full article

Andreas Antonopoulos says he was offered 10 BTC for an interview with the objective to show that Hex is not a scam. The alleged offer comes as Hex proponents battle persistent Ponzi allegations. Antonopolous, an influential cryptocurrency advocate, also reveals the offer was on condition he does not disclose this inducement. Hex is an ERC20 token launched on the Ethereum network in December 2019 and it is intended to be a store of value. It is also designed to leverage off the emerging defi ecosystem in cryptocurrencies within the Ethereum network. Instead of playing along, Antonopolous decided to expose the clandestine offer via Twitter, leaving the project backers in an awkward position. The leading cryptocurrency advocate ends the tweet by asking his followers to draw their “own conclusions.” The post immediately set off a storm with both supporters and opponents of the token trading accusations and counter-accusations. For example, one Twitter user known as The Greatcoin, weighs into the debate by questioning Hex’s business model. This user argues that Hex’s “business model is not sustainable” and he even goes as far as to call the project a Ponzi. The Hex team has strenuously denied this allegation. Perhaps fearing Antonopolous might be tempted to take the offer, this Twitter user goes on to state that “one day (Hex) will burst like Bitconnect. If you want to risk your reputation, you can do (accept the offer) but when it bursts, you may be summoned by the court.” Another user, Gucci reminded other users about recent events in defi and how Hex compares: “You guys just saw what happened with Yams, do you really think hex will be any different? It’s just an ERC-20 token.” Other critics are more scathing in their attacks. They insist the project is going to collapse. For its part, the Hex team has not been able to shake off persistent Ponzi allegations despite mounting an intensive marketing campaign. It also appears that the incessant scam allegations could be affecting the price of the hex token. The token last peaked in May in 2020 when the price surged to $0,006135 giving Hex a total market capitalisation of $968.8 million. However, as Hex battles opponents, the price of the token has been dropping since July 29, from $0.0061 to $0.002732 at the time of writing. Meanwhile, Antonopolous’ comments are likely to add pressure on the token prompting Hex supporters to fight back. Some Hex supporters, like one Twitter user identifying themselves as Allen Hena, accuse Antonopolous of unfairly targeting crypto project. Hena argues “unless it was Richard himself, not sure what this proves. I could offer you 100 BTC right now. This seems like an attack on Hex honestly.” Richard Heart is the creator of Hex. Meanwhile, Hena concludes by stating that “the Hex (team) has done more than others to prove it isn’t a scam.” Another user rebuffs Antonopolous and even suspects “a bad actor wanting to portray Hex in a negative light, as this is not the first time you’ve made this kind of tweet.” The user then infers that the Hex community “is very tight-knit, with no marketing department, and there’s been no mentions or rumors of this whatsoever, at least that I’ve seen.” What do you think of Antonopolous’ comments? Share your thoughts in the comments section below. The post Andreas Antonopoulos: Hex Team Offered Me 10 BTC to Speak Well of Their Token appeared first on Bitcoin News. View the full article

Canadian miner Hut 8 Mining Corp has reported that second quarter revenue tumbled 67% to $6.9 million from $21.2 million a year ago, as Bitcoin’s supply cut in May forced production to decline. The Toronto Stock Exchange-listed company extracted just 795 bitcoin (BTC) in the April to June quarter, compared to 1,165 BTC in the preceding three-month period. However, Hut 8 posted a net profit of $2.1 million thanks to the revaluation of its bitcoin holdings, which generated $7.6 million. Still, Q2 net earnings show a decline of 91% from the $22.7 million reported a year earlier. The firm said profit from mining activities came in at $440,000, down from $13.4 million the year before. Altogether, Hut 8 ended the review quarter with 2,954 BTC on its balance sheet. Management blamed the decline in profits to the Bitcoin third halving event of May 11, which slashed miner rewards by 50% to 6.25 BTC per block. “The network difficulty decreased subsequent to the halving by 15%, but quickly returned back to levels prior to the halving,” said the company, in its earnings release on August 13. “This posed a difficult challenge to many bitcoin miners as they saw the bitcoin block reward drop by 50% with similar network difficulty rates meaning that revenue dropped by nearly 50% for all bitcoin miners, including Hut 8,” it added. During the quarter, Hut 8 raised $6.2 million from a share sale. The funds have been used to buy new mining hardware, which is expected to add 275 petahash per second to the company’s existing mining capacity. Shares of Hut 8 rose 4.4% to $0.89 in Toronto trading Friday. Over the past 52 weeks, the stock has reached a low of $0.38 and a high of $1.98. What do you think and Hut 8’s second quarter earnings? Let us know in the comments section below. The post Miner Hut 8 Reports Q2 Revenue Plunged 67% to $6.9 Million Due to Bitcoin Halving appeared first on Bitcoin News. View the full article

The U.S. central bank has been working on creating a digital dollar, according to a recently published transcript from Federal Reserve Board Governor Lael Brainard. On Thursday, she told participants attending “San Francisco’s Innovation Office Hours” webcast, that the Fed has been “collaborating with researchers at the Massachusetts Institute of Technology (MIT)” toward building a CBDC codebase. The central bank cold wars have begun, as the United States clearly wants to compete with China’s upcoming central bank digital currency (CBDC). Not too long ago, the Federal Reserve Chair Jerome Powell didn’t give the media too many clues about the bank’s efforts to create a digital dollar. Powell acted as though the central bank was simply investigating the possibilities of a CBDC, but nothing more than that. Federal Reserve Board Governor Lael Brainard seems to be telling a different story. Just recently, Fed Chair Jerome Powell told Rep. Tom Emmer (R-Minn.) that private entities should not get involved with building the digital dollar and the monetary system should be left to the central bank. “I do think this is something that the central banks have to design,” Powell stressed. “The private sector is not involved in creating the money supply, that’s something the central bank does.” Brainard discussed the subject in a webcast published on August 13, which was conveniently called “An Update on Digital Currencies.” The Board Governor explained that the coronavirus outbreak was a reminder of how far behind the country is with regard to digital currency payments. “The Covid-19 crisis is a dramatic reminder of the importance of a resilient and trusted payments infrastructure that is accessible to all Americans,” Brainard stressed. The Fed executive further stated: It was notable that after a sharp reduction in spending early in the COVID-19 crisis, many households increased their spending starting on the day they received emergency relief payments. In addition to the Fed investigating a CBDC, Congress has proposed a number of bills discussing the invocation of a digital dollar this year. All of which seem to leverage Covid-19 as an important reminder that the country needs a reliable payment system. A Digital Dollar Foundation was also created in the U.S. this year. Despite Powell’s attempts to be more secretive, Brainard told the webcast attendees that the central bank’s Boston branch has had a “multiyear” relationship with the Massachusetts Institute of Technology (MIT). The Boston technology school is well known for fostering digital currency research and development, including funding Bitcoin developers. It also seems the code has been worked on during these years and at some point, Brainard said it would be open source. “To enhance the Federal Reserve’s understanding of digital currencies, the Federal Reserve Bank of Boston is collaborating with researchers at the Massachusetts Institute of Technology in a multiyear effort to build and test a hypothetical digital currency oriented to central bank uses,” Brainard highlighted during the “Innovation Office Hours” discussion. The Board Governor added: Digital currencies, including central bank digital currencies (CBDCs), present opportunities but also risks associated with privacy, illicit activity, and financial stability. This prospect has intensified calls for CBDCs to maintain the sovereign currency as the anchor of the nation’s payment systems. What do you think about the Federal Reserve working on a digital dollar? Let us know in the comments section below. The post US Federal Reserve Reveals Building a Digital Dollar Codebase With MIT appeared first on Bitcoin News. View the full article

One of the earliest Nasdaq-listed cryptocurrency mining companies, Marathon Patent Group, announced a new agreement contract with the ASIC mining manufacturer Bitmain. According to the public company, Marathon has agreed to purchase 10,500 next-generation Antminer S-19 Pro models for $23 million. Marathon Patent Group wants to be the largest bitcoin mine in the United States and its recent acquisition of thousands of next-generation mining rigs may help fortify that goal. On Friday, Marathon announced a long term agreement with Bitmain Technologies as it has agreed to purchase 10,500 new S-19 Antminers from the company. The latest S-19 Pro series claims to provide 110 terahash per second (TH/s) per unit and is the most profitable bitcoin miner on the market today. Merrick Okamoto, Marathon’s Chief Executive Officer told the public the purchase was a milestone for the firm. “The execution of this contract with Bitmain represents a milestone event for our company,” Okamoto said. “This investment is expected to result in Marathon being one of, if not the largest, bitcoin miner in North America.” The latest order will increase the company’s net machinery to roughly 13,520 bitcoin mining rigs. Marathon purchased 500 S-19 Pro miners in mid-June and at the end of July, Marathon bought 700 M31S+ Whatsminers from Microbt, and another 660 rigs from Bitmain. Okamoto continued, “Today’s news comes on the heels of recent incremental business growth through the purchase of what now is expected to total 13,520 next-generation miners generating 1.55 exahash (EH/s) upon full installation.” Mining company stocks have been on a tear lately as well as public firms like Marathon, Riot Blockchain, and Hut8 have seen shares increase in value significantly. There is way more exposure to the bitcoin mining stocks these days than years prior. There’s Canaan, Ebang, Hut8, Marathon, Riot, Hive, OTC, MGT, DPW, Argo, DMG, and more. There are now 14 publicly traded mining firms and all of which have shares that can be purchased publicly. Despite the delays in mining shipments, Marathon said “1,360 miners were delivered” to the firm’s hosting facility. “We are pleased to have provided Marathon with Bitmain’s latest generation of Antminer S19 Pro mining hardware,” Irene Gao an executive at Bitmain said on Friday. “[Antminers are] equipped with the most advanced chipset currently available, the high-performance and low power consumption of the miners will significantly improve operations of Marathon’s mining business. This collaboration continues to strengthen our cooperation and will extend to future work together as Marathon expands its presence in the mining industry,” Gao concluded. What do you think about Marathon Patent Group purchasing 10,500 S-19 Pro miners? Let us know in the comments section below. The post Nasdaq-Listed Firm Marathon Buys 10,500 Next-Gen Bitcoin Miners appeared first on Bitcoin News. View the full article

Digital currency markets have increased significantly in value during the last 24 hours as the market capitalization of all 5,700+ coins is up over 2.4% on Friday. Bitcoin has been inching toward the $12k region again and ethereum touched a high over $442 a coin during the afternoon trading sessions. Crypto Market Cap Crosses $365 Billion The market valuation of all the crypto assets in existence is around $365 billion on Friday afternoon as a number of coins have seen decent percentage gains. Bitcoin (BTC) is trading just above the $11,800 zone and is up 2.7% today. BTC is also up over 28% in the last 30 days and 26% for the last 90 days. The forerunner in the top ten on Friday is ethereum (ETH), which has gained more than 12% during the last day and ETH is also up 85% during the last 30 days. ETH is currently trading for $442 per coin at the time of publication. Top six crypto assets on Friday, August 14, 2020. XRP still commands the third-largest market cap and the coin is up over 8% today and trading for $0.30 per coin. The stablecoin tether is still seeing massive trade volume and USDT’s $12 billion market valuation still holds the fourth position. Another forerunner this week is chainlink (LINK), which saw it’s price peak at $18.00 per LINK, but the coin is down over 6.6% at press time. Currently, LINK holds the fifth-largest market cap and each token is swapping for $16.77 a piece. Bitcoin cash is swapping for $296 per BCH and the peer-to-peer digital asset is up over 4% on Friday. During the last 30 days, BCH has gained 30% and for the last 90 days, BCH is up over 25%. The coin has a $5.4 billion market valuation and $767 million in global trade volume. The top seven pairs trading with bitcoin cash (BCH) on Friday include tether (64.3%), BTC (16.6%), KRW (4.43%), USD (4.15%), TWD (4.08%), GBP (1.4%) and ETH (1.31%). Trader Believes Bitcoin Could Target $14k Next The popular trader and analyst Jacob Canfield told his 59,000 followers that he can envision the price of BTC hitting $14,800 per coin in the near future. On August 12, Canfield tweeted: “As long as BTC can hold $10,500 support, I think we continue to move up to test the 1.618 extension 1.618 is at $13k and 2.618 is around $14,800 Yesterday’s drop was possibly price suppression and re-accumulation of longs and a bear trap on shorts to fuel the next push up.” After Canfield made his statement an individual replied “It’s happening.” Regulated Futures Exchange CME Group Becomes Third-Largest Bitcoin Futures Mover This week the Chicago Mercantile Exchange (CME) joined the ranks as one of the largest bitcoin futures providers by order of open interest. On August 13, CME Group posted roughly $800 million becoming the third-largest derivatives exchange. More than $840 million in open interest was recorded on Monday according to the data analytics provider Skew.com. In fact, the biggest derivatives exchanges worldwide have shuffled in order as far as volumes provided during the last two weeks. The top bitcoin futures movers besides CME Group include Okex, Bitfinex, and Huobi. LINK May See Rough Seas Ahead There is no doubt that chainlink (LINK) has jumped massively in value during the last few weeks and even bumped bitcoin cash (BCH) from the fourth position. At press time LINK is down after touching an all-time high of $18 per token. The coin is down 6% today but it is slowly recovering from its prior wounds. However, the research and analysis firm Santiment says that chainlink (LINK) may see “rough waters ahead.” “LINK is up a whopping +68.7% in the last week,” Santiment tweeted. “However, we are seeing signs that investors are becoming increasingly uncertain in its prolonged rally. Speculative interest has exploded, and we’ve looked into some concerning signs for the #1 trending coin.” The firm also published an analytical report describing why LINK may see some volatile market action. What do you think about the market action this week? Let us know in the comments section below. The post Market Update: BTC Inches Toward $12K, ETH Jumps 12%, Report Says LINK May See ‘Rough Waters’ appeared first on Bitcoin News. View the full article

During the last few months, crypto proponents have focused their attention on Iran. The Iranian President Hassan Rouhani initiated a new mining strategy last May, and the government-licensed 14 bitcoin mining farms in July. According to the Chinese mining operation Lubian, it claims to operate one of these regulated bitcoin mining farms in the oil-rich nation. The Cambridge Bitcoin Electricity Consumption Index or “Bitcoin Mining Map” attempts to visualize the geographic distribution of global Bitcoin hashrate. Iran is the sixth most powerful country in terms of global hashrate. Of course, China consumes a vast amount of the global hashrate and Chinese miners also have a strong relationship with the oil-rich nation of Iran. Back in April 2019, news.Bitcoin.com reported on Chinese miners migrating to Iran for cheaper electricity rates. At that time, it was difficult for the bitcoin miner, Liu Feng, to get his ASIC mining rigs into the country. However, when miners got into Iran, they had access to extremely affordable electric prices ($0.006 per kilowatt-hour). However, the Iranian government caught wind of these unlicensed operations when certain subsidized organizations like mosques were caught mining bitcoin with near-free electricity. The government then mandated licensure for mining farms and the electric rate was upped to fluctuating export prices depending on the season. More recently, President Hassan Rouhani initiated a bitcoin mining strategy and the government is focused on bolstering the industry. Lubian.com is the eleventh most powerful mining pool among 18 bitcoin mining pools with 3.86 EH/s/ The Chinese mining operation Lubian.com recently told the financial columnist Vincent He that the company operates one of the largest regulated farms in Iran. Lubian’s cofounder Liu Ping detailed that it has a partnership with a power facility in Iran and the investors are both Iranian and Chinese. Power companies in Iran are now allowed to house bitcoin mining operations. Unlike the Chinese miner Liu Feng who had an awful time dealing with customs getting ASIC mining rigs across the border, Liu Ping said his firm has no problems with clearance. “We have our own customs clearance channels as we have the experience of establishing the logistics company,” Liu Ping stated. “And we have good local resources in Iran, and we have maintained good relations with the Ministry of energy, the Ministry of foreign affairs, and even the army in Iran,” the miner added. Lubian is a relatively new mining operation and more recently it was the sixth most powerful mining operation in terms of hashrate. Today, Lubian has around 3% of the global hashrate or around 3.86 exahash per second (EH/s). This puts the firm in the eleventh position among a number of mining pools and giant operations like Poolin, F2pool, and Antpool. Liu Ping said that the Iranian farm is housed in containers within the power plant’s property lines. The Chinese miner also said the operation pays the power company in shares of bitcoin (BTC), as well as traditional means of payment. “Compared with traditional industries, crypto mining is a profitable business,” Liu Ping concluded. “Apart from the mining pool business, at present, there is no other crypto financial service business conducted by Lubain.com. At present, their purpose is only mining and accumulating Bitcoin.” At the time of publication, the BTC hashrate has been high at around 135 EH/s and there are 18 mining operations mining the BTC chain. What do you think about Lubian.com’s cofounder statements about mining bitcoin in the oil-rich nation of Iran? Let us know what you think about this subject in the comments section below. The post Chinese Bitcoin Miners Develop Strong Relationships and Crypto Mining Facilities in Iran appeared first on Bitcoin News. View the full article

The merculet token gained 160% from $0.00068 to $0.0011 in just 7 hours of trading on August 14. The price jump makes the token biggest gainer in 24 hours according to markets.Bitcoin.com. Despite the price surge, merculet had trading volumes of just $112,000. At the time of writing, merculet’s market capitalization was $4.5 million. This ranks the token at number 297. According to information on its website, the Merculet project says “it helps internet enterprises to achieve growth by applying readily accessible social-based operations and holistic blockchain solutions.” However, it is not clear what has roused investor interest in the token. Merculet itself has not updated the company’s twitter handle or that of the CEO, Ivan Jiang since April 2020. Meanwhile, other tokens making it into the top five are gnosis and POA Network tokens, which gained 56% and 48% respectively. The gnosis token, which until August 12 was trading at just below $32, now trades at $51.98, a year high. POA Network’s token which had a market capitalization of $10.7 million, recorded trading volumes of nearly $5 million in 24 hours. Completing the top five gainers for the day is the algo token, which has gained nearly 440% so far this year. The token added 37% in the last 24 hours and it traded at $0.73 at the time of writing. Algo’s 24-hour trade volumes stood at $110 million while the market capitalization was at $576 million. The token is now ranked number 29 on markets.Bitcoin.com. Meanwhile, the current algo price rally, which began after the token listed on Coinbase, follows a string of partnership announcements throughout the year. Algorand, which claims it has created the “first open-source, pure proof of stake” decentralized blockchain, has partnered with Rand Labs and World Chess. Algorand has also forged a working relationship with American pop singer, Akon on the latter’s ambitious AIKON coin project. The algo token, just like merculet, continues the story of few altcoins that are outperforming bitcoin (BTC). Although bulls still dominate, bitcoin is still struggling to break and stay above $12,000. At the time of writing, bitcoin (BTC) was trading at just above $11,700 mark while bitcoin cash (BCH) and ethereum (ETH) were trading at $291 and $424 respectively. What do you think of altcoin price surges? Share your thoughts in the comments section below. The post Market Report: Merculet Token Price Doubles in 7 Hours, Algo up More Than 500% Since March appeared first on Bitcoin News. View the full article