roadrunner

A court in Shanghai, China, has reportedly ruled that bitcoin is an asset protected by Chinese law in a case that has dragged on for years. The case involves a theft of two different cryptocurrencies, one being bitcoin, from an American. The defendants argued that bitcoin was not recognized under Chinese law; the court disagreed, citing documents by the central bank, the People’s Bank of China (PBOC). In China, Bitcoin Is Asset Protected by Law Shanghai No.1 Intermediate People’s Court has reportedly ruled on a bitcoin case that has dragged on for multiple years, Chinese media reported on Thursday. The case involved three Chinese and a Malaysian who broke into the home of an American and his Chinese wife on the night of June 12, 2018, East China daily media Shine detailed. After locking the couple up and beating them, the intruders forced them to transfer 18.88 bitcoins and 6,466 skycoins to their account. The first hearing of this case found that there was an economic dispute and the perpetrators were sentenced to prison for six and a half months to eight months. The defendants agreed to give all the skycoins back but not bitcoins, arguing that cryptocurrencies were not assets under Chinese law so the couple did not have the right to demand them back. The court disagreed and ordered them to return all the cryptocurrencies they took from the couple or pay them what the coins were worth. When the couple received neither the bitcoins nor the equivalent funds, they filed a lawsuit. The four defendants appealed, reiterating that cryptocurrencies, including bitcoin and skycoin, were not legal property under Chinese law. However, Shine news outlet reported on Thursday that the Shanghai court has ordered them to return the coins, adding: The court found bitcoin to be a digital asset that should be protected by law. Liu Jiang, the chief judge in the case, explained that the documents released by the central bank, the People’s Bank of China (PBOC), have never denied bitcoin as an asset and the laws in China do not prohibit citizens from holding them. Several other Chinese courts have made a similar ruling on cryptocurrency. For example, the Shenzhen Court of International Arbitration recognized cryptocurrencies in a case involving 20 bitcoins, 50 bitcoin cash, and 13 bitcoin diamond in 2018. Last year, the Hangzhou Internet Court also legally recognized bitcoin. Recently, the Shenzhen Futian District People’s Court in Guangdong Province declared ethereum legal property in China. What do you think about Chinese courts’ rulings on bitcoin? Let us know in the comments section below. The post Chinese Court Rules Bitcoin Is Asset Protected by Law appeared first on Bitcoin News. View the full article

The Golden Rule may be the most basic moral approach to dealing with others. It seems universal across cultures and religions. The Golden Rule is instinctive. We all know it, even as children without education. **The following essay was written by Devon Brewer. “Rediscovering the Golden Rule” was originally published on Voluntaryist.com and is reprinted here on Bitcoin.com for historical preservation. Moreover, Satoshi Nakamoto’s Bitcoin technology is based on the voluntary consent of free-market participants and the Non-Aggression Principle is very much aligned with Nakamoto’s great invention. The opinions expressed in this article are the author’s own. Bitcoin.com is not responsible for or liable for any opinions, content, accuracy or quality within the historical editorial.** I like the negative form of the Golden Rule the best. One of the earliest written versions comes from ancient Egypt: “That which you hate to be done to you, do not do to another.” By definition, politics and government violate this rule. Through government, some people make other people do something (or not do something) against their will, even when no one would be harmed if government didn’t get involved. I believe voluntaryism, at its heart, is the Golden Rule. I was politically active most of my life. I followed political news closely, argued with others about politics, voted in every possible election I could, and gave small amounts of money to a few political campaigns. My political views shifted over time, eventually crossing most of the political spectrum. Somehow, whenever we participate in politics, regardless of viewpoint, we forget the Golden Rule. Political advocates, civic leaders, and school curricula make political participation seem righteous and noble. We make excuses for our political involvement, such as “helping others,” “getting what we deserve,” and “standing up for ourselves.” These excuses blind us to the fact that through government, we take from and harm others (and ourselves). Democratic practices – mob rule – violate the Golden Rule just as much as dictatorial ones. Barter and trade, hedging with precious metals, and leveraging cryptocurrencies are good ideas that don’t require force. If you would like to learn more about the benefits of bitcoin and how the technology can improve economic freedom click here. People engage in politics to control other people through government – whether to “change the world” or prevent change. My focus on controlling others through government seeped into my personal life. Sometimes I tried to interfere with the lives of my children and wife, attempting to control them in ways that I wouldn’t have liked had they done the same to me. Of course, I told myself that I was acting in their best interests. It can be especially difficult to respect the Golden Rule as a parent. Nurturing, protecting, teaching, and encouraging a child is essential, but can easily slip into manipulating. Fortunately for me, my family endured my behavior. But I regret very much the times that I broke the Golden Rule with them. If you’d like to learn more about the philosophy of free-market anarchism and voluntaryist ideology then check out the articles highlighted below Devon Brewer’s editorial. Over several years, I gradually rediscovered the Golden Rule. Remarkably, my reawakening began with my growing disillusionment with politics and learning more about libertarianism. Yet even libertarianism, as practiced by the Libertarian Party in the United States and expressed often in Reason magazine, was ultimately insufficient. The party in particular supposedly holds sacred the non-aggression principle, which is really just a fancy version of the Golden Rule in its negative form. Yet the party seeks to rule in government, contradicting the principle. So I continued to read about various types of libertarianism and anarchism. I eventually realized that the simplest, most coherent anarchist philosophy was fundamentally an elaboration of the Golden Rule. I think voluntaryism is the best way to describe this belief and way of life. Once I saw how politics goes against the Golden Rule, it was easy to generalize the principle by applying it more consistently in my personal life. In turn, I think I became a better parent and husband. Embracing the Golden Rule fully was also psychologically liberating for me. By recognizing the proper and effective limits to my actions, I stopped worrying about matters beyond my control or responsibility. Life is too short to be focused on frustrating attempts to control others. Isn’t it enough to manage one’s own life? Do you want to learn more about why taxation is theft, educate yourself about the NAP, otherwise known as the “Golden Rule,” and voluntaryism? Check out the links below for more resources. Voluntaryist.com – Fundamentals of Voluntaryism Larken Rose – The Most Dangerous Superstition Larken Rose – The Jones Plantation Video Lysander Spooner – No Treason Samuel E Konkin III (SEK3): The New Libertarian Manifesto Samuel E Konkin III (SEK3): The Agorist Primer Peter Kallman: A 21st Century Introduction to Agorism Bitcoin.com: The Vacate Manifesto Timothy C. May: The Cryptoanarchist Manifesto Eric Hughes: A Cypherpunk’s Manifesto The post Devon Brewer: Rediscovering the Golden Rule appeared first on Bitcoin News. View the full article

This week filmmaker Torsten Hoffmann launched the cryptocurrency-infused documentary “Cryptopia: Bitcoin, Blockchains and the Future of the Internet.” Cryptopia discusses the powerful economy and flourishing ideas that stemmed from Satoshi’s invention through the eyes of some of the industry’s well known movers and shakers. Cryptopia: Bitcoin, Blockchains and the Future of the Internet The three-time award-winning filmmaker Torsten Hoffmann is back again after his acclaimed film “Bitcoin: The End of Money As We Know It.” Hoffmann’s latest picture stars people like Andreas Antonopoulos, Roger Ver, Charlie Lee, Samson Mow, Preethi Kasireddy, Wences Casares, and Laura Shin. The film discusses how bitcoin and the technology and applications that stem from it, have and continue to transform our world for the better. Further, the film touches on web 3.0, decentralized finance, and a few different themes than the last documentary. Anyone can visit the official website and watch the movie for a ticket price of $5.88 (5.40 euros) or 0.0007 BTC. Antonopoulos is featured throughout the film and during the movie, the crypto evangelist said: “We don’t have broad enough adoption and we don’t have a long-term perspective to be able to determine whether cryptocurrencies will be good as a medium of exchange or store of value. The market will decide. What bitcoin is in Venezuela is different from what it is in San Francisco,” he added. Bitcoin.com’s Executive Chairman Roger Ver was also featured in the documentary speaking on forwarding economic freedom. “If you look around the world,” Ver stressed. “The way that governments finance most of their wars is through the printing of money, not through direct taxation.” Ver continued by adding: So if we can strip away the government’s ability to print money at will, we can strip away most of their power to wage these wars. The Bitcoin Scaling Debate Highlighted The film also touches on the scaling debate and Ver explains his distaste for the censorship that stemmed from the moderators of forums like r/bitcoin and people who consider themselves “toxic bitcoin maximalists.” It is well known that for years, thousands of comments on r/bitcoin were censored if anyone discussed the scaling topic or even if they quoted Satoshi’s own words. “If you don’t support free speech, you don’t support Bitcoin,” Ver highlighted during the documentary. You are an enemy of Bitcoin. In fact, I myself have tried simply posting just a direct quote from Satoshi Nakamoto the creator of Bitcoin… word for word from Satoshi. I have had that very quote deleted. They are literally censoring words from the creator of Bitcoin,” Ver added. Some other comments from the cast were Litecoin’s creator Charlie Lee and Blockstream’s Samson Mow. Lee noted that “in order for cryptocurrencies to thrive we need to work with the current financial system.” Meanwhile, Mow discussed the company’s notorious satellite project saying: “Blockstream satellite is a needed technology in order for bitcoin to become the foundation of a new global financial system.” In order to catch the rest of the commentary from the crypto industry’s biggest names, you’ll have to grab a ticket from Hoffmann’s Cryptopia website. Hoffman said that the first film had a lower budget and this time around, the team put 8X the funding into Cryptopia. Screen Australia, A German broadcast co-production helped bolster the production costs. “This allowed us to tell our story in a more ambitious cinematic universe. Elaborate 3D animations were created to illustrate blockchain’s inner workings. We fly 5-person crews into a remote part of Switzerland to a secret location. We filmed consistently with two 4k cameras and partially even in 8k resolution,” Hoffman detailed during the release this week. You can check out the trailer below and also see the whole film at the Cryptopia website. What do you think about the Cryptopia film? Let us know in the comments below. The post Award-Winning Filmmaker Torsten Hoffmann Launches Bitcoin Documentary Cryptopia appeared first on Bitcoin News. View the full article

On May 7, the Cointext CTO and cofounder of Countermarkets, Vin Armani revealed a new project he’s been working on called “Signal, Watch, and Pay Protocol” (SWaP). Armani’s published specification and reference code of SWaP indicates that the platform allows “onchain, peer-to-peer negotiation and execution of ‘collaborative transactions.’” SWaP: Onchain, Trustless, and Collaborative Transactions Vin Armani is well known for his free market views and he’s also the chief technical officer at Cointext. During the last few months, Armani has published a few different things that aim to bolster the BCH economy. For instance, back in November 2019, Armani published specifications for a Simple Ledger Protocol (SLP) concept called the “Simple Ledger Postage Protocol (SLPP).” The SLPP concept provides people with the ability to send SLP-based tokens without leveraging bitcoin cash (BCH) for gas. The announcement on Thursday called the “Signal, Watch, and Pay (SWaP): A protocol for censorship-resistant, peer-to-peer collaborative transactions on Bitcoin Cash.” Armani wrote a blog post about the subject alongside publishing specs and the reference code. Signal, Watch, and Pay Protocol: Toward A Censorship-Resistant Economy On Bitcoin Cash by @vinarmani https://t.co/FzNUiVA7q5 — Ⓥin Ⓐrmani (@vinarmani) May 7, 2020 “A collaborative transaction is a Bitcoin transaction in which two or more independent parties participate as inputs (payees),” Armani’s blog post details. “The most basic real-world example of such a transaction would be three friends pooling their money to collectively pay for their meal at a restaurant. In the context of the broader economy, collaborative transactions include some of the most important financial activities.” Armani’s blog post further states: The SWaP protocol, as currently published, enables three different ‘classes’ of collaborative transactions. SLP/BCH Exchange, Multi-Party Escrow, and Threshold Crowdfunding The Cointext CTO explains the three classes could mean an SLP/BCH exchange where two independent parties can exchange SLP tokens for bitcoin cash in a trustless fashion. Secondly, a multi-party escrow with an oracle that enables people to negotiate an escrow scheme and leverage an oracle as well. Lastly, Armani describes threshold crowdfunding which allows people to raise funds with a goal in mind and operate the fundraiser in a trustless manner and onchain. Within the blog post, the developer explains why he thinks there is a need for the SWaP concept. Armani also stressed that SWaP was specifically designed for the Bitcoin Cash blockchain. “The purpose of Bitcoin is the removal of trusted third-parties (intermediaries) from financial transactions,” the Cointext CTO remarked. “This process is known as “disintermediation.” Satoshi Nakamoto makes it abundantly clear that disintermediation is Bitcoin’s raison d’être in the Introduction section of the white paper.” Armani believes that the SWaP project could be “highly disruptive” because it can disintermediate “trading, escrow, and funding platforms.” Right now, the most powerful enterprises within the crypto industry are custodial and regulated providers, Armani says. He believes concepts like SWaP could bring the true vision of Bitcoin to fruition by providing avenues to financial schemes that completely remove the third party. Armani concludes that SWaP only needs some full nodes, supporting wallets, and possibly data providing services as well. What do you think about Armani’s SWaP specifications and codebase? Let us know in the comments below. The post Cointext CTO Reveals a New Protocol That Aims to Bolster a Censorship-Resistant Economy for Bitcoin Cash appeared first on Bitcoin News. View the full article

Crypto valley firm Bitcoin Suisse has announced plans to sell a 20% stake in the company. The sale is expected to raise 46 million Swiss francs ($47.38 million). Bitcoin Suisse said it intends to use the money to expand its portfolio to banking services in Switzerland and Liechtenstein, according to local media reports. The firm’s mainstream ambitions, announced last year, also include a securities dealer license. A banking license in Liechtenstein will give it access to European Union banking customers, it said. The offer is open until mid-June. Valued at $283.25 million, the company has already raised around $20.6 million in an initial funding round, led by Swiss banker Roger Studer and the Studer Family Office. The current fund raise is expected to boost Bitcoin Suisse’s capital base to $103 million. Bitcoin Suisse, which aims achieve unicorn status by 2025, is seeking further funds to expand proprietary trading and its credit business as well as future acquisitions. Unicorns are private companies valued at over $1 billion. The funding campaign comes a time when the Covid-19 pandemic is plunging markets into turmoil, holding investor risk appetite in check. Digital assets could, however, prove attractive to mainstream investors whose cash savings are being eroded by the ongoing money printing. Bitcoin Suisse founder and chairman Niklas Nikolajsen said the company may face limitations to the speed of its growth but new capital injections will help “continue our exponential growth, as well as expand with cross border licences.” Recently, Nikolajsen said he saw “more promise than peril, more opportunity than misfortune” for new technologies in the face of the coronavirus-induced financial crisis. His company is presenting investors with a 7-year old business of 145 staff, around $1.03 billion of traded crypto assets, and products that include Swiss franc-backed stablecoin bonds. It also runs a cryptocurrency retail payments project with Worldline. In 2019, Bitcoin Suisse revenues exceeded $20.6 million, half the revenue it reported in 2017. Profit fell similarly to $2.47 million, dragged by high staff and banking license application costs. The company plans to follow up the 2020 fund raise with a security token offering (STO) and a stock exchange listing in 2021. What do you think about Bitcoin Suisse’s fund raising? Let us know in the comments section below. The post Bitcoin Suisse Sells 20% Stake to Raise $47 Million: Crypto Valley Broker Aims To Expand Into Banking appeared first on Bitcoin News. View the full article

Hedge fund manager and investor, Paul Tudor Jones, discussed his opinion in regard to the crypto asset bitcoin on Thursday, saying that it reminds him of the part gold played back in the ‘70s. Jones also disclosed that his fund Tudor BVI has a percentage of Bitcoin futures products as well, and he believes the cryptocurrency is a hedge against inflation. Bitcoin: The Fastest Horse In the Stable This week in a note to investors, the well known hedge fund manager Paul Tudor Jones discussed bitcoin. Jones detailed that he was recently motivated to look into the crypto asset after witnessing the central banks participate in massive quantitative easing tactics and slashing interest rates. Jones has been a popular hedge fund manager for decades making billions of dollars, as the investor is worth about $5.1 billion to-date. “The best profit-maximizing strategy is to own the fastest horse,” explained Jones, the founder and chief executive officer of Tudor Investment Corp in his note to investors. The hedge fund manager further added: If I am forced to forecast, my bet is it will be Bitcoin. According to Jones, the hedge fund Tudor BVI has a percentage of Bitcoin Futures in the fund, but exactly how much is unknown. Jones Envisions a Growing Role for Bitcoin Jones has recognized that around 6.6% of the global GDP has been created out of thin air since the beginning of February. “It has happened globally with such speed that even a market veteran like myself was left speechless,” Jones detailed. “We are witnessing the ‘Great Monetary Inflation’ — an unprecedented expansion of every form of money, unlike anything the developed world has ever seen.” When asked what he would use for a hedge against the monetary inflation he looked at assets like gold, Treasuries, and certain commodities, but stressed there is a “growing role for bitcoin.” Jones further talked about the acceleration of the post-Covid-19 economy and how the Fed’s financial bazookas haven’t helped the situation. “How reasonable is it to expect that in the recovery phase the Fed will be able to deliver an increase in interest rates of a magnitude sufficient to suck back the money it so easily printed during the downswing?” Jones asked in his note. “I am not a hard-money nor a crypto nut — [But] the most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by Covid-19.” Jones words in his investors note concluded by saying: Bitcoin reminds me of gold when I first got into the business in 1976. BTC has been on a tear since the big drop in value on March 12, 2020 dropping to $3,600 per coin. The crypto asset is up well over 170% since then and touched a high of over $10K per unit on May 7. Despite the significant gains so far, many speculators are curious about the bitcoin halving that will take place three days from now on or around May 12, 2020. What do you think about Paul Tudor Jones’s opinion concerning bitcoin? Let us know in the comments below. The post Popular Hedge Fund Manager Paul Tudor Jones: ‘Bitcoin Reminds Me of Gold Back in 1976’ appeared first on Bitcoin News. View the full article

Coinshares on Thursday launched its trading business, Coinshares Capital Markets (CSCM), reporting that the unit traded over $3 billion worth of cryptocurrency in 2019 and $1.5 billion during the first quarter of 2020. The UK digital asset manager is basically rebranding Gabi Trading, a business that it is in the final stages of acquiring, according to a press statement. CSCM runs a portfolio of trade tools that includes electronic trading, liquidity provisioning, and lending and borrowing. It also provides bespoke hedging and risk management solutions for BTC miners, exchanges, brokers, and crypto funds. Coinshares Capital Markets has been an active proprietary trading arm of Global Advisors Group. The business will now open its services to relevant counterparties, as part of the rebrand. “These initiatives are part of Coinshares’ mission to provide clients with a sophisticated, fit-for-purpose suite of products and services designed specifically for digital assets,” said the firm. “This acquisition is part of a larger strategic realignment under the firm’s new leadership comprised of chief executive officer, Jean-Marie Mognetti; chief strategy officer, Meltem Demirors; and chief revenue officer, Frank Spiteri,” it added. In November 2019, Coinshares moved to increase its American presence by acquiring a broker-dealer license from the U.S. Financial Industry Regulatory Authority. It got the license through the acquisition of broker dealer registered under Group Capital which then underwent a name change to Coinshares Capital. CSCM has a historical relationship with Coinshares, having supported the firm’s passive products and family of funds. The unit has also previously deployed proprietary trading strategies for the six-year-old digital assets management company which has offices in Jersey, London, Stockholm, and New York. What do you think about Coinshares’ new acquisition? Let us know in the comments section below. The post Coinshares Acquires Gabi Trading: New Unit Traded $3 Billion Worth of Crypto in 2019 appeared first on Bitcoin News. View the full article

The Indian cryptocurrency industry has been growing rapidly despite the nationwide lockdown and the coronavirus crisis. Two new cryptocurrency trading platforms are launching in India while existing crypto businesses seek clarification from the central bank, the Reserve Bank of India (RBI). New Cryptocurrency Trading Platforms Launching in India The crypto sector in India is showing significant growth with several crypto exchanges reporting a 10X increase in trading volumes and a substantial increase in new users. Despite the global coronavirus pandemic and the nationwide lockdown, new cryptocurrency trading platforms are launching in India. Global cryptocurrency exchange aggregator Coinswitch is launching a crypto trading app for Indian users on June 1. Announcing pre-registration for Coinswitch Kuber, Coinswitch explained on Wednesday: Coinswitch Kuber will ensure the best rates by aggregating liquidity across all Indian exchanges and will support over 100 currencies for Indian users to buy and sell easily using Indian rupees (INR). Coinswitch aggregates the liquidity of a number of crypto exchanges in India to provide its users with the best rates for cryptocurrencies. The exchanges include Binance, Huobi, Kucoin, and Hitbtc. To access this pooled liquidity, users simply enter the INR amount and the cryptocurrency they want to buy, and the service will provide a list of offers at various exchanges that “auto-refreshes every 30 seconds.” Coinswitch Kuber is launching on June 1 for Indian users. Pre-registration has begun and there will be no INR trading, deposit, or withdrawal fees for the first 25,000 users signing up during pre-launch. The first 25,000 users during pre-launch pay no INR trading, deposit, or withdrawal fees. Users can earn Coinswitch points, or Kuber points, as a part of the new platform’s reward program, which can be redeemed from the reward section once the platform is live. Besides Coinswitch, another cryptocurrency exchange has launched in India. The Bangalore-based Bitpolo announced on Thursday that it is now live. The exchange offers instant INR deposits and claims that withdrawals are “within seconds.” Chief business officer Suresh Choudhary said: We were building through the bear market and thought the timing of our launch cannot be more apt than when the world is slowly inching back towards normalcy post a pandemic & recessionary environment. “As we foresee fragilities of traditional asset classes, crypto markets seem to offer the bigger upside and we intend to bring simplicity and solid technology to the screens of Indian traders and hodlers,” Bitpolo added. The Bitpolo exchange offers trading in INR against a number of cryptocurrencies, such as BTC and ETH. Businesses Seek Answers From RBI Ever since the Supreme Court of India quashed the RBI ban, the Indian crypto community has been waiting for more instruction from the central bank. The RBI has not sent any notices to banks regarding the supreme court’s ruling, which has led some banks to continue denying service to crypto businesses. According to reports, the central bank is not obligated to issue any updates. A number of crypto businesses have reportedly approached the RBI seeking clarity on the status of the banking ban and the taxation of cryptocurrency. “The cryptocurrency exchanges also want clarity as to whether they are being categorized as commodity, currency, goods or service as this is set to impact the way they get taxed under goods and services tax (GST) framework,” the Economic Times reported Monday. “If the digital assets are not exempted from GST, the digital currency exchanges in India are going to have a standoff with the tax authority,” Praveenkumar Vijayakumar, CEO of cryptocurrency exchange Belfrics Global, was quoted by the news outlet as saying. He elaborated: In the wake of the recent supreme court ruling, we have also approached the RBI for clarity on this, as if we pay GST on the whole transaction, then most platforms would not be able to survive. Several Indian tax authorities have been examining how to tax bitcoin and other cryptocurrencies. The indirect tax department has been investigating whether cryptocurrency could be brought under GST and how much to tax crypto exchanges. The sales tax department and VAT authorities are also looking into cryptocurrency taxation. What do you think about how fast the Indian crypto sector is growing? Let us know in the comments section below. The post New Cryptocurrency Exchanges Launch in India as Businesses Seek Answers From RBI appeared first on Bitcoin News. View the full article

Square’s Cash App reported Wednesday, that bitcoin (BTC) revenue during the first quarter of the year, soared 367% to $306 million from $65 million a year ago. Quarter-on-quarter, the figure is up 71%. The increase is thanks “to growth in the number of active bitcoin customers, as well as growth in customer demand as a result of the decrease in the price of BTC,” Square said. It is the first time that BTC revenue has exceeded fiat revenue at the online payments company. For the three months to March 31, 2020, Cash App fiat revenue amounted to $222 million, bringing total sectoral revenue to $528 million. At $7 million, bitcoin-related profit accounted for just 3.8% of Cash App gross profit of $183 million. That compares with $8 million earned for the whole of 2019. Square said total revenue for the three months climbed 44% to $1.38 billion from a year earlier. Net quarterly loss expanded to $106 million from $38 million last year. The company reported a net income of $391 million in the fourth quarter of 2019, helped by a $373 million gain from the sale of subsidiary Caviar. Covid-19 helped to drive online transactions. In April, said Square, as Cash App recorded its “highest monthly totals for net-new transacting active customers, peer-to-peer volumes …direct deposit transacting active customers and bitcoin volumes…” Direct deposits, for example, grew 3x compared to March. Going forward, Square indicated that it will focus on customer acquisition and product velocity for it’s Cash App. According to the earnings report: We see significant opportunity to invest in acquiring new customers, driven by peer-to-peer payments as well as creative marketing strategies. We intend to continue to identify opportunities to launch new products and expand the ways that Cash App can help customers manage their money. Cash App allows users to transfer funds between the U.S. and U.K. with no fees, as well as to buy bitcoin. At the time of writing, shares of Square are up 6.15% at $72.39 in morning trade at the New York Stock Exchange. Over the past 52 weeks, the stock has reached a high of $87.25 and a low of $32.33. What do you think about the Cash App’s bitcoin revenue growth? Let us know in the comments section below. The post Square’s Cash App Reports BTC Quarterly Revenue Exceeds Fiat’s, Soaring 367% to $306 Million appeared first on Bitcoin News. View the full article

On May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only has four days until the halving, otherwise known as the “quantitative hardening” by some investors. The cryptocurrency’s per annum inflation rate will drop from 3.6% to 1.8% on or around May 12, 2020, as banks like the Federal Reserve flood the monetary system with stimulus by creating trillions out of thin air. The digital asset BTC has made headlines today, as the price per unit has once again crossed the $10K zone. After dropping to $3,600 per BTC on March 12, otherwise known as ‘Black Thursday’ the price has since gained over 177%. There is no asset (besides a few other cryptocurrencies), stock, commodity, or precious metal that has experienced a sizable gain such as BTC’s recent run-up. The price gives the crypto asset a $184 billion market valuation, and there’s around $15 billion worth of global trade volume today. A number of investors believe the rise in price is due to the upcoming halving on or around May 12. The BTC network’s block rewards are halved after this date and miners who find blocks will only get 6.25 BTC as opposed to the former 12.5 coins. The chain halves every four years or every 210,000 blocks mined. This week, the crypto analytics startup Messari.io and the digital currency exchange Bitstamp, published a report about the crypto asset’s third halving and the implications. Within the research report, the companies explain “miner economics” and how as soon as the BTC network halves, there will be a “50% overnight drop in revenue” for miners. This will cause a lot of attention toward BTC’s price and network hashrate. “While this overnight drop may not be a shock, given that the halving is known in advance, it doesn’t mean that planning for the halving is straightforward,” the report details. “The amount of new BTC issued every block is only one side of the equation. The other side is bitcoin’s price.” The report concerning BTC’s block reward halving further notes: Without a 100% price increase to counteract the reduction in new issuance, every miner’s revenue will be impacted significantly. Those with the most efficient cost structures will ultimately stay in business. Those with inefficient structures will likely be forced to shut off their machines once profitability dips below break-even levels. While most miners cannot immediately shut off their machines due to contractual obligations with colocation facilitates and utilities, those with the highest costs to produce new BTC will eventually capitulate and go bankrupt. With the price of BTC crossing the $10K zone, it helps but a number of speculators and skeptics are more concerned about after the halving. Some theories and estimates suggest that $10K per BTC might not be enough for some mining operations to survive. According to a recent study published by Tradeblock, the price will need to be around $12.5K or above for a great majority of miners. While some speculators assume mammoth prices await investors, others believe the price could drop significantly after the halving. Either way, most cryptocurrency proponents will be watching. What do you think about the price of BTC crossing $10K? Let us know in the comments section below. The post Bitcoin Price Touches $10K Amid 2020’s Macroeconomic Storm and Covid-19 Fears appeared first on Bitcoin News. View the full article

On May 7, the decentralized finance (defi) startup General Protocols revealed the team has raised over $1 million from investors. The creators of General Protocols have introduced innovative projects on the Bitcoin Cash network such as Anyhedge, and have also participated in helping forward the Bitcoin Cash Node (BCHN) project and Flipstarter.cash. The BCH community was pleased to hear that a startup dedicated to the Bitcoin Cash blockchain and decentralized finance (defi) has raised $1 million this week. The company called, General Protocols, is behind the Anyhedge project which is a blockchain-enforced synthetic derivatives protocol for Bitcoin Cash (BCH). News.Bitcoin.com reported on the project during the first week of April. According to the team’s press release, the latest funding stems from the cryptocurrency trader Marc De Mesel and a variety of other investors. The team is thrilled to get funding to push the startup’s goals forward in order to deliver defi to the BCH community. “We are delighted that aligned investors are supporting us in our vision to bring defi to Bitcoin Cash,” said John Nieri a.k.a. emergent_reasons, President of General Protocols. “We are building a team of dedicated supporters of peer to peer electronic cash here at General Protocols.” General Protocols team members helped with the construction of Flipstarter.cash, a noncustodial fundraising platform. Additionally, the startup also volunteered efforts toward the new Bitcoin Cash full node implementation called BCHN. The project Anyhedge aims to be the first defi protocol on any branch of Bitcoin and the platform will launch in cooperation with Cryptophyl’s new noncustodial exchange, Detoken. Further two former Bitcoin.com team members Marcel Chuo and Rosco Kalis have joined the General Protocols company. Kalis is well known for his work on the Cashscript protocol in order to create a new generation of smart contracts on the Bitcoin Cash network. Chuo will handle business relationships and his background includes global expansion and coordinating with well known tech firms like HTC. During the investment announcement for $1 million into General Protocol’s infrastructure, Kalis said he looks forward to working on the blockchain-enforced synthetic derivatives protocol for Bitcoin Cash. “I’m excited to be working on Anyhedge with the great team at General Protocols,” Kalis explained during the announcement. What do you think about the $1 million dollar investment into General Protocols? Let us know in the comments below. The post Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion appeared first on Bitcoin News. View the full article

Iranian lawmakers have reportedly approved a plan to slash four zeros from the national currency, the rial, which has been falling sharply in value amid chronic inflation and the U.S. sanctions. The official currency will also be replaced. Economists are skeptical about how the changes will affect the Iranian economy. Cutting 4 Zeros From the Rial The Iranian parliament has reportedly passed a bill to allow the government to cut four zeros from the national currency, the rial. The country’s weak currency and persistently high inflation have led to street protests since late 2017. According to Iran’s Students News Agency ISNA, a major news agency in the country: The bill to remove four zeros from the national currency was approved by lawmakers. Ali Rabiei, a spokesperson for the government of Iran, said in a tweet, “Eliminating the four zeros is a necessary action to simplify financial transactions.” According to reports, the Guardian Council of the Constitution is expected to ratify the law before it can take effect. Iran’s state TV noted that the Central Bank of Iran (CBI) will have two years to implement the changes — removing rials from circulation and issuing tomans instead. Abdolnaser Hemmati is the current governor of Iran’s central bank. According to the bill passed, the central bank will have two years to implement the changes. The governor of the Central Bank of Iran, Abdolnaser Hemmati, has promised to implement the reform as soon as possible, the Financial Times reported. He told the country’s parliament on Monday: Currently, our money has a horrifying difference with euro and [one rial] equals €0.000006 … The efficiency of the national currency has declined due to chronic inflation over five decades. The changes are the outcome of a draft bill that Hemmati introduced early last year. The central bank governor noted that his country’s currency had been devalued 3,500 times since 1971. According to reports, the idea of removing four zeros from the national currency has been discussed since 2008, but it became a priority after the U.S. imposed sanctions on the country in 2018. The value of Iran’s currency has been steadily declining since the Islamic Revolution in 1979 but that drop has accelerated in recent years fueled by U.S. sanctions. Since the Trump administration exited Iran’s 2015 nuclear deal and reimposed sanctions on the country in 2018, the value of Iran’s currency has fallen by roughly 60%. The Iranian currency was trading at about 163,000 rials per dollar on unofficial markets at the time of this writing. In addition, the coronavirus pandemic has contributed to a further devaluation of the rial since February. To evade sanctions, Iran has also turned to cryptocurrency. The country has approved more than 1,000 bitcoin mining licenses, including Iminer recently. The value of Iran’s currency has fallen significantly since the U.S. imposed sanctions on the country in 2018. Changing From Rial to Toman as Currency Falls Under the plan, Iran’s official currency — the rial — will also be replaced by the toman, with one toman being equal to 10,000 rials, the central bank governor said Monday. While the rial is used in official documents, Iranians have always referred to their currency in daily conversation and business transactions as the toman, with one toman being equal to 10 rials. “The move has psychological significance on people who do not recognize the rial and always use toman,” a senior businessman was quoted by the Financial Times as saying. “Otherwise, it almost has no economic or financial impacts on the country other than bringing down the costs of issuing notes and coins.” Saeed Laylaz, another economist, is skeptical about the plan, stating: The change of the currency as well as dropping too many zeros will inadvertently create unnecessary fluctuations in the economic and social structures and will even fuel the inflation … The central bank will drop four zeros but the inflation will quickly bring back two of the zeros. Some people are skeptical about the changes. “The central bank will drop four zeros but the inflation will quickly bring back two of the zeros,” one economist opined. Some people have also raised concerns that the changes would add extra expenses at a time when the government was already facing a budget deficit of between 30% to 50% for this coming fiscal year. Paris-based Iranian economist Fereydoun Khavand explained that usually governments resort to changing the national currency as the last stage of an economic overhaul, citing examples such as what European countries did after World War II or Turkey in recent years. However, he pointed out that Iran has done the opposite due to the crippling effect of U.S. sanctions, “which have severely limited the country’s ability to sell oil or to conduct international financial transactions,” the media quoted him as saying. The economist added that under those circumstances, it is difficult for the Iranian government to make other basic economic changes, elaborating: You typically fix the economy first and then change the currency … The government is in a financial bind with no prospect of financial aid coming from outside or from inside so they are trying this. Meanwhile, U.S. President Donald Trump is fighting Congress over a resolution requiring him to get approval before engaging in further military action against Iran. The nonbinding congressional resolution was introduced after Trump launched an airstrike that killed Iranian Gen. Qassem Soleimani. What do you think about the changes Iran is making to its currency? Let us know in the comments section below. The post Iran to Cut 4 Zeros From Its Currency Amid Chronic Inflation and US Sanctions appeared first on Bitcoin News. View the full article

Jeff Berwick is an entrepreneur with a lot to say these days and he’s released a number of videos discussing the coronavirus pandemic and the government-induced lockdowns. Berwick is the founder of The Dollar Vigilante, an anarcho-capitalist media outlet focusing on gold, silver, mining stocks, cryptocurrencies, and offshore banking. News.Bitcoin.com chatted with Berwick this week in order to get his perspective on the current events tied to the Covid-19 outbreak, the stay-at-home orders, the financial turbulence, and what he envisions will happen next. Berwick chats about precious metals like gold, his thoughts on a few digital assets, and the concept of self-ownership. He believes that humans are faced with a choice — Either continue down the nasty road of manipulation and fraud or break the invisible chains of subordination and authority figures. Jeff Berwick Discusses ‘Lockstep’ and Worldwide Totalitarian Control Bitcoin.com (BC): Can you tell our readers your thoughts on the Covid-19 pandemic, the government lockdowns, and the media surrounding this event? Jeff Berwick (JB): To put it bluntly, there is no “pandemic”. Even if you take the numbers given out by the WHO and CDC, which are absolutely not to be trusted, this supposed “pandemic” has fewer hospitalizations and less deaths than even the 2017-2018 flu seen. I’ve been researching and following the activities of what you could call the “elite” or “globalists” for nearly two decades and this has been long planned for as a type of false flag event in order to bring in a dozen or more globalist agendas. BC: Your recent videos have been raising awareness about certain elements of the pandemic that are not natural. Would you say that the central banks and politicians are in the midst of a financial reset? When I started The Dollar Vigilante in 2010, I said that “by the end of this decade the financial and monetary system would be in collapse.” I even began predicting last summer when I saw the first signs of it hitting that it would happen in “days, weeks, or months”. The “modern” monetary and financial system has reached the end of their rope. The entire world, whether it be governments, businesses, or individuals are beyond the point of no return in terms of indebtedness. I believe the “pandemic”, which I call a “plandemic” was all a part of collapsing the system and blaming it on anything but the real culprits, governments, and central banks. In many ways, the 2020 crisis is no different from 9/11 which was a pre-orchestrated and planned false flag event to crash the system and bring in a massive reduction in civil liberties that continue on to this day. Jeff Berwick founder of The Dollar Vigilante. BC: Do you think that the lockdown or stay-at-home measures are deliberate in order to halt the economy and the supply chain? Yes. The Rockefeller Institute, in 2010, after David Rockefeller had met with Bill Gates and George Soros in something they called the “Good Club.” They put out a document called “Lockstep” which outlines using a virus “pandemic” scenario to bring in worldwide totalitarian control, break down the supply chains and essentially bankrupt most of the world and have them all go on Universal Basic Income (UBI) and become not much more than destitute slaves much like in places like Cuba and Venezuela. Hyperinflation and Bitcoin BC: If you were to give a timeline in months or years, how long do you think the USD will last as the globally dominant fiat currency? It’s really just a race to the bottom now for all fiat currencies. Nearly every government in the world is beyond bankrupt and nearly every central bank in the world is counterfeiting up trillions of new fiat currency units at unprecedented rates which all but ensures a total collapse in them all. This too is part of the plan as they intend to destroy nearly every government’s finances and hyperinflate all the currencies in order to bring in a one-world, digital currency which will track, and tax, every single thing that people do with it. As for the timeframe, it depends on a lot of factors. But we are talking just a few years likely. I see hyperinflation coming to nearly all fiat currencies in the next few years. Hopefully a lot more people begin using cryptocurrencies now. If so, many can avoid the total destruction coming. BC: Equities, commodities, oil, and many other investments have pretty much crapped the bed or are on life support. However, Bitcoin has done surprisingly well since ‘Black Thursday’ March 12. In fact, it has performed better than any asset or equity since then. Where do you see bitcoin (BTC) going from here price wise or as far as a safe haven asset like gold? As I said earlier, I was expecting this crisis and had told all our Dollar Vigilante subscribers (you can subscribe here) to expect a crisis of never before seen proportions at any moment now. I also told them to lighten up on our favorites, cryptocurrencies, and precious metals, as I said they would go down in the initial stages of the crisis. I stated in a number of speeches and videos over the last year that I expected bitcoin could hit a bottom near $4,000 during that crisis. And, that is almost exactly where it hit. We then pounded the tables to buy. As you pointed out, it has done incredibly well since and has proven itself as a type of safe-haven asset now. As for where it goes from here? It’ll be volatile but with every central bank printing fiat currency like Zimbabwe now, precious metals and the best cryptocurrencies will skyrocket over the coming months and years in nominal terms and will do very well compared to almost anything else in real terms. Privacy-Centric Cryptocurrencies and Gold BC: BTC specifically has issues with fees, do you see other bitcoin branches or alternative cryptocurrencies doing well during a global economic depression? I have been one of Bitcoin Core (BTC’s) biggest critics of the way in which it was so slow to adapt to increased usage, particularly back in 2017 when transaction times would sometimes take days and transaction fees would sometimes be over $100. But, things have improved a lot since then. I have some doubts and issues with Segwit and the Lightning Network but I am waiting to see how that plays out. I’ve said since the original Bitcoin Cash fork to hold on to all your BCH and BSV as well. There are still lots of potential pitfalls with the BTC version of bitcoin but it is by far the most widely used so I am still very bullish on it. I like a lot of the innovation and development I am seeing in BCH and BSV so continue to hold on at least a 1:1 basis with BTC and may even increase that slightly soon. As for my favorite with the biggest potential reward, it is monero (XMR). As an anarcho-capitalist, I was drawn initially to bitcoin in 2011 as I thought it was quite a private currency. As time went on and as BTC moved even further away from a privacy focus I was thrilled to find out about Monero a few years ago. And, having a crypto team at The Dollar Vigilante and The Crypto Vigilante, they have shown just how incredible of an innovation Monero is for a truly 100% private, untrackable, untraceable currency. And, being at such a low valuation compared to bitcoin right now, I think it has the most potential to have exponential gains. That said, governments and central banks will try everything they can to stop its usage. But, the great thing is, there isn’t much they can do. And, screw them anyway, they are criminal organizations that need to find their way to the trash heap of history as a very, very, very bad, evil, deadly and stupid idea. BC: Bank of America and many other estimates predict gold prices per ounce to jump to over $3K per ounce in 2020. Would you agree that gold will see a price increase like this due to the macroeconomic turmoil? That sounds pretty close to what we expect for this year. Over the next 2-3 years, though, we expect much higher than $5,000. If we go right into hyperinflation, pick any number you want. It won’t mean anything at that point though. But, I don’t see it rising based on “macroeconomic turmoil”, I see it rising as people flee hyperinflating fiat currencies for something of real value like the precious metals and some cryptocurrencies. People Should Immediately Walk Away from the Government BC: Right now businesses are being told not to open and remain on lockdown. Many people think that their freedoms are being taken away as well. What would you tell business owners to do and average citizens who want to protect their freedoms? What should they do? Governments should not exist. They are an illegitimate criminal organization. Every individual should make their own decisions on their own risks and rewards and act on those. Adhering to anything government tries to force on people using violence is always a horrible idea. As for losing your “freedom”. What freedom? The human race as a whole has never been so enslaved, tracked, and extorted. Your average person now has to ask the government for permission to do just about anything. Drive, fish, cut hair, travel. And, anyone who produces anything has more than half of it stolen by the government. If people want any chance to have even a sliver of freedom they should immediately walk away from anything related to the government. Don’t vote. Don’t pay extortion fees. Don’t ask for permission to do anything. Nobody owns you but you. If people ever realize that then we will have a world of peace and prosperity like we’ve never known it. If they don’t, we are headed to something even worse than George Orwell imagined. And, he imagined a boot stamping on a human face – forever. It will be worse than that if people don’t wake up. What do you think about our discussion with Jeff Berwick? Let us know in the comments below. The post Dollar Vigilante Founder Talks Covid-19 and Economic Crisis: ‘The Modern Financial System Is at the End of It’s Rope’ appeared first on Bitcoin News. View the full article

Guarda wallet has been around for almost three years – the cryptocurrency storage that started out as open-source single-currency wallets in the times of market needs has now turned into a flourishing ecosystem of products and crypto management services. Many novelties have been implemented during these times of productivity, but the main idea was kept clean as ever – the team is striving to make a convenient, fully decentralized and versatile crypto wallet suitable for both beginners and advanced users. Currently, the wallet supports more than 45 major blockchains (along with their tokens), including the ones that are not usually to be found in multi-asset wallets – the best example is Monero XMR that is supported on the Web version. Even though it might sometimes be challenging to fulfill the tasks presented by the market itself and the crypto community, Guarda is doing the best to both remain user-friendly and implement top-notch solutions for making the wallet stand out. Possibly, the most distinct part of Guarda, besides supporting the most assets from the wallets currently present, are the built-in features. The wallets presented on Web, Desktop, Mobile (iOS and Android) and Chrome Extension all have a way to easily exchange cryptocurrency, purchase it on board, use currency-specific features (staking, delegation, Bandwidth points for TRON, Shielded transactions for Zcash, airdrops and more), create Multisignature wallets, as well as manage detailed transaction settings in the Advanced tab. Web and Desktop versions are also suitable for connecting a Ledger hardware wallet and using Guarda’s interface to manage the assets kept in cold storage. As Guarda is a rapidly developing project that stays in sync with crypto market trends and hypes, many new features and possible solutions are discussed with the community and tested out together with the users. The team believes that this is the way true decentralized products should be made – all considering the community word, listening carefully and choosing what is best. For those interested in saying a word, suggesting something or asking a question, there is always Guarda Wallet Twitter and Telegram, where the team is present and interacting with the community. “From the point of functionality, we try to onboard as many features and handy things as we can. So when you download Guarda to your phone or use the Web version, you have a wallet that allows you to do all the cryptocurrency management activities in one place. If you don’t have any crypto you can easily buy some, if you want another coin you can exchange, if you want to stake you can stake, and you can obviously transact and store securely. When something new appears, we try to get it into Guarda as fast as possible, because if there is demand, it is valuable to us.” – Maria Carola, CMO Guarda Wallet. Contact email address: pr@guarda.co – Maria Carola, CMO Supporting links: https://guarda.co/ https://twitter.com/GuardaWallet 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 Guarda Wallet – Multi-Currency, Multiplatform Wallet With a Taste for Special Features appeared first on Bitcoin News. View the full article

A new bitcoin mining map by the University of Cambridge shows that China accounts for 65% of the world’s hash power. About half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total. Launched recently, the university’s Bitcoin Mining Map provides data on the average hash power generated by each country every month. Current statistics cover the period September 2019 to April 2020. The map is based on geo-location data or IP addresses of hashers connecting to the Bitcoin (BTC) mining pools BTC.com, Poolin, and Via BTC. The pools represent around 37% of the total Bitcoin hash power. Hash rate is a measure of the power of the computers linked to the Bitcoin network, which determines their ability to produce new coins. According to the map, prepared by the University of Cambridge Centre for Alternative Finance (CCAF), China’s hash power dwarfs that of the US nine-fold, with America accounting for just 7.24% of the global hash power total, a distant second place. At 6.9%, Russia comes in third followed by Kazakhstan with 6.17%, Malaysia with 4.33%, and Iran with 3.82%. The rest of the world make up 6% of the hash rate. Often saddled by huge power bills, cryptoccurency miners have flocked to China, lured by the promise of cheap renewable electricity. As per the map, the second largest concentration of hash power in China is in the Sichuan province, with 9.66%. Inner Mongolia, Yunnan and the capital city of Beijing are key mining areas as well, accounting for 8.07%, 5.42%, and 1.73% of the national hashrate total, respectively. CCAF admits that the sample that produced the hash power distribution map “may not be fully representative” because “it represents only a little more than a third of the total hashrate; and second, the data is provided by three Bitcoin mining pools that are all headquartered in China.” To correct the seeming China bias, CCAF hopes to add data from major mining regions such as Siberia in Russia, Washington and New York States in the US, Québec and Alberta in Canada in upcoming reports. What do you think about China’s dominance in hash power? Let us know in the comments section below. The post 65% of Global Bitcoin Hashrate Concentrated in China appeared first on Bitcoin News. View the full article

Celo, a competing project to Facebook’s Libra cryptocurrency, has added 50% more new members to its alliance, bringing the total number of supporting organizations to 75. Some Celo members are also supporters of the Libra project, such as Coinbase Ventures, Anchorage, and Andreessen Horowitz. Celo Project Adds Over 20 Members The Celo Foundation announced Tuesday a 50% increase in the number of its members. The foundation explained that “The scope of membership remains focused on use cases, furthering the mission of financial inclusion and prosperity, and adoption of Celo’s technology.” Head of the Celo Alliance for Prosperity Chuck Kimble commented: We are excited to see the Alliance grow by 50% since our initial announcement in March, with organizations committed to creating prosperity, especially in Africa and Latin America. New members include Ankr, Althea, Bitfy, Blockchain Education Network, Coinfirm, Centrifuge, Dove Wallet, Dunia Pay, Grin, Hex Trust, Latamtech, Mobike, Mycash Online, Netki, Ontology, Paxful, Peixe, Positive Blockchain, Ribon, Transak, United Africa Blockchain Association, and Yellow. The foundation explained that any organization sharing its mission can apply to join the alliance. Current members of the Celo Alliance for Prosperity. 75 Members in Total and Current Projects The Celo project was launched in March with 50 founding members. Since then, existing members have been working on various projects within Celo. For example, Anchorage and Coinbase announced custody support for the Celo Gold token at launch. A portion of Celo block rewards will be donated to planting trees through Project Wren to support a carbon-neutral decentralized network. Clabs and Appen ran a microwork pilot in Kenya. Upright launched Celo Camp, a virtual accelerator program for sustainable businesses to be built on the Celo platform. Existing members include Abra, Alice, Alphawallet, Anchorage, Appen, Ayannah, Andreessen Horowitz, B12, BC4NB (Blockchain for the Next Billion), Beamandgo, Bidali, Bison Trails, Blockchain Academy Mexico, Blockchain.com, Blockchain for Humanity (b4h), Blockchain for Social Impact (BSIC), Blockdaemon, Clabs, Cloudwalk Inc, Cobru, Coinbase Ventures, Coinplug, Cryptio, Cryptobuyer, Cryptosavannah, Esolidar, Fintech4good, Flexa, Gitcoin, Givedirectly, Grameen Foundation, GSMA, Kesholabs, Laboratoria, Ledger, Ledn, Maple, Mercy Corps, Metadium, Moon, Moonpay, Pngme, Polychain, Project Wren, Saldomx, Semicolon Africa, The Giving Block, Utrust, Upright, Wyre, Yellow Card, and 88i. Some members of the Celo project are also supporters of the Facebook Libra cryptocurrency project. Libra has recently undergone massive changes, with a new whitepaper. Competing With Libra The Celo project has been touted as a competitor to Libra, a project backed by social media giant Facebook. A number of companies are members of both the Libra project and Celo, such as Anchorage, Bison Trails Co., Coinbase Ventures, Andreessen Horowitz, and Mercy Corps. The Libra website currently lists 24 members of the association, including the newest addition, Checkout.com. Kimble previously explained that there are some similarities between Libra and Celo in terms of mission, which is why some members have joined both projects. Diogo Monica, president of Anchorage, which is a member of both the Libra project and the Celo Alliance for Prosperity, said in a statement: “Celo and Libra each have unique focuses and approaches, but they share a goal that Anchorage strongly believes in: banking the unbanked.” According to an updated whitepaper by the Libra Association, the Libra project has diverged from its original plan, including adding single-currency stablecoins in addition to the Libra cryptocurrency. What do you think about Celo? Let us know in the comments section below. The post 75 Companies Back Facebook Libra’s Competitor Celo appeared first on Bitcoin News. View the full article

On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions through the use of digital currencies. Chainalysis Digs Into North Korea’s Relationship With Crypto This week Chainalysis published some findings on cryptocurrency usage in Iran, North Korea, and a Ponzi scheme called Futurenet. Mainstream media has been watching North Korea closely, as the country’s supreme leader Kim Jong-un has recently been rumored to have passed away. Other rumors say Jong-un “vanished” because of the coronavirus outbreak. Not too long ago a United Nations report estimated that North Korea (NK) has stockpiled at least $670 million worth of cryptocurrencies like BTC. The Chainalysis’ NK briefing highlights how an alleged anonymity host provider from Switzerland called Black Host has been accepting digital assets for goods and services. Black Host claims to offer anonymous email services, virtual private networks (VPN), and even SIM cards. Despite the fact that many people think Black Host is not doing anything wrong, Chainalysis believes the Black Host platform is connected with the criminal masterminds called the Lazarus Group. According to a myriad of reports, the Lazarus Group is North Korea’s cyber and crypto crime syndicate. Lazarus Group has been accused of hacking cryptocurrency exchanges and looting bitcoin from the platforms. The Switzerland-based bullet-proof hosting provider Black Host allegedly shared an address with the syndicate gang, according to the Chainalysis findings. “Blockchain analysis suggests bullet-proof hosting provider Black Host received Bitcoin from an address linked to Lazarus Group exchange hack,” the firm disclosed. A Comprehensive Look at Iran’s Farhad Crypto Exchange North Korea is an OFAC sanctioned country, but not the only country accused of leveraging digital currencies to avoid sanctions. The second report published by the blockchain analysis firm, discusses the situation in Iran as far as cryptocurrencies are concerned. “Iran’s Central Bank [is] voicing its intention to pursue cryptocurrency projects aimed at getting around sanctions, many exchanges such as Localbitcoins have stopped offering service to Iranian users to limit their exposure to possible sanction violations,” Chainalysis notes. The blockchain intelligence company provides a comprehensive overview of the Iranian crypto trading platform called the Farhad Exchange. “While Iran is cut off from many international exchanges, local exchanges continue to operate in the country, drawing scrutiny from U.S. and international regulators. For this reason, it’s crucial to understand how Iranian exchanges interact with the international cryptocurrency ecosystem, and especially their exposure to regulated exchanges,” the study’s introduction explains. The Crypto Ponzi Futurenet The final report from Chainalysis discusses the Futurenet Ponzi scheme, a project that was initiated in Poland. Chainalysis calls Futurenet a “cryptocurrency scam with purpose-built payment processors.” “At first glance, Futurenet appears no different from any other cryptocurrency-based Ponzi scheme. Victims pay into the scam based on promises of large returns, and are told they can make even more money by recruiting their friends as well,” the company’s report reveals. The Chainalysis briefing on Futurenet adds: Upon further investigation, Futurenet appears to have its own infrastructure of purpose-built shell companies to facilitate cryptocurrency payments to and from victims. The three briefings give a comprehensive perspective of these subjects and how the operations work. The briefings also contain the company’s Reactor graphs that are tethered to each investigation. What do you think about the three topics researched by Chainalysis? Let us know in the comments below. The post 3 Reports Look at North Korea’s Lazarus Group, Iran’s Farhad Exchange, and the Crypto Ponzi Futurenet appeared first on Bitcoin News. View the full article

DUBAI, UAE, 8th May (Friday) Time: 10 AM New York, NY, USA (GMT-4) ‘MEET IDEAOLOGY’ webconference is looking for you The exclusive, pre-launch presentation for the top crypto people In an effort to make top-shelf blockchain partnerships before their Initial Coin Offering is launched, Ideaology ( www.ideaology.io ) is organizing the Web-Conference ‘Meet Ideaology’ on May 8th, 2020. The Web-conference will be focused on: Ideaology team, Benefits, and discounts of the token (IDEA), Whitepaper & Pitch Deck release. Register your seat on the following LINK, its a free-of-charge and will be organized on the Zoom web conferencing app and streamed on our youtube channel. The conference presents an opportunity to understand the vision and main project details, as well as ICO pre-announced details. Moreover, you will have an exclusive opportunity to talk directly to founders and Chief Executive Officer. As stated on the website, ‘IDEOLOGY is my way to make the world a better place. A sharing environment where business founders, developers, and investors from all over the world elevate each other by offering their talents to one another. A platform where ambitious people can lean on their peers to grow and create a successful life for themselves. That’s my ultimate objective’’, explains Ideaology Founder & CEO, Khaled Alkalbani. Ideaology is an open-source blockchain project on Ethereum, which will be dedicated to connecting talented developers and their target community members through its platform. Ideology platform will offer a variety of services as Crowdfunding, Freelancer, Creative Market, and Find a team option powered by IDEA token. Register at: https://ideaology.io/webconference Or subscribe to our official youtube channel: https://www.youtube.com/channel/UCUZ3F0mS0NbaznKOG2v9Biw Website: ideaology.io Telegram: t.me/ideaologyio Contact: info@ideology.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 Meet Ideaology – All in One Blockchain Solution appeared first on Bitcoin News. View the full article

Bitcoin (BTC) staying above $8,000 is a sign of increasing momentum and detachment from the stock market beta-pull, according to Bloomberg senior analyst Mike McGlone. In a new bitcoin report published on May 5, McGlone said that sustaining above this level is necessary to indicate strength. “Bitcoin is showing divergent strength versus the wobbly stock market,” he said, noting the cryptocurrency’s rapid decline on March 12, when it plunged 27%. BTC rose past $8,000 for the first time in several weeks at the end of April, largely spurred by the impending halving. At Press time, the coin was up 4.2% at $9,216 over the last 24 hours, according to data from markets.bitcoin.com. The Bloomberg Galaxy Crypto Index (BGCI) shows bitcoin “recovering above its upward-sloping 52-week moving average, while the same measure of the S&P 500 is turning downward.” Like gold, McGlone opines, the trend indicates that: BTC is rapidly transitioning away from a risk asset and gaining credence versus stocks. Relative volatility and momentum measures indicate a firming price foundation for the crypto. Similar to about 3,000 on the benchmark stock index, $8,000 has been a key pivot point for much of the past year in the cryptocurrency industry, as per the report. The ratio of BTC’s 180-day volatility against the same gauge on the S&P 500 dropped to a measure of 2 this year, a new low. “The drop to new lows in the relative-volatility ratio indicates a firming bitcoin price foundation versus the stock market,” said McGlone. The commodity strategist also spoke about how diminishing supply, increasing demand and a favorable macroeconomic situation (overrun by stimulus packages) support a positive BTC price outlook, perhaps even better than gold. “In May, the daily production of new coins will drop by half, and unlike quasi-currency brethren gold, higher prices won’t be an incentive for more supply,” McGlone elaborated. He added: “Restricted supply means adoption is the metric that matters, and most indications remain positive in an unprecedented environment where virtually every central bank is aggressively adding liquidity.” What do you think about the price of bitcoin staying above $8,000? Let us know in the comments section below? The post Bitcoin Pulls Away From Stock Market as Price Staying Above $8,000 Signals Strength – Bloomberg Analyst appeared first on Bitcoin News. View the full article

The last two months dealing with the coronavirus outbreak have been strange, to say the least, and as data rolls in more people are becoming aware that there was quite a bit of overreaction from politicians, the media, and medical professionals. A small number of people are starting to focus on the economic situation and the possible destructive aftermath the finance world will see. On May 5, 2020, the Austrian economics-based think tank, Mises Institute, published a 157-page report covering the anatomy of the crash. Mises Institute President: ‘The Crash Was Overdue’ For well over two months now, the world has been distraughtly dealing with Covid-19 and the government-induced shutdowns worldwide. The economy has faltered and in the U.S. people are growing leery of the bureaucratic decisions and stimulus injections stemming from the country’s central banks. News.Bitcoin.com has been covering the Federal Reserve’s schemes since last summer and the trillions of dollars the bank handed out before the first U.S. Covid-19 death. Now the Mises Institute (Mises.org) has published a report filled with a collection of enlightening editorials that may show people the ramifications of the Fed’s endless fiat game. The introduction to the report called the “Anatomy of the Crash: The Financial Crisis of 2020,” was written by Mises Institute president Jeff Deist. His introduction and the articles tethered to the report explain how the economic crash was not caused by the virus. “The Great Crash of 2020 was not caused by a virus,” Deist details. “It was precipitated by the virus, and made worse by the crazed decisions of governments around the world to shut down business and travel. But it was caused by economic fragility.” The Mises Institute president further added: The supposed greatest economy in U.S. history actually was a walking sick man, made comfortable with painkillers, and looking far better than he felt—yet ultimately fragile and infirm. The coronavirus pandemic simply exposed the underlying sickness of the US economy. If anything, the crash was overdue. Most of the Blame Can be Laid at the Feet of Central Bankers Deist further added that the media and general public in the U.S. are fixated on the virus and they cannot see the manipulation the Fed has been causing. “Too much debt, too much malinvestment, and too little honest pricing of assets and interest rates made America uniquely vulnerable to economic contagion — Most of this vulnerability can be laid at the feet of central bankers at the Federal Reserve.” Despite the fact that the general populace is not aware of the problem, Deist thinks that Americans should not let the authorities at the central bank get away with what they have done. “We should not let them get away with it, because (at least when it comes to legacy media) the Fed’s gross malfeasance is perhaps the biggest untold story of our lifetimes,” Deist wrote. Well before the virus struck Wuhan China and well before the first Covid-19 U.S. death, the Federal Reserve and 37 modern central banks worldwide participated in quantitive easing (QE) practices and slashed interest rates. News.Bitcoin.com has explained in various articles how the world’s monetary system is broken and the various methods free-market advocates can use to shelter themselves from the storm. Individuals can use tactics like barter and trade, leveraging precious metals for a hedge, and utilizing censorship-resistant digital currencies. Following Diest’s introduction in the “Anatomy of the Crash” report, the research contains various articles written in the past by some of the Austrian school of economics’ greatest visionaries. The 157 pages cover topics like why the financial sector now rules the global economy, central banks nationalizing the economy, the menace of sub-zero interest rates, how the ghosts of failed banks have returned, what central banks may do next and not-so-modern monetary theory (MMT), how central banks are propping up stock prices, and what Ludwig von Mises would think about the financial system today. If you are interested in reading the “Anatomy of the Crash: The Financial Crisis of 2020” check out the report in its entirety here. Faith in the Federal Reserve’s Monetary System Will be Sorely Tested Back in 2008, the financial crises woke a lot of people and many understand just what the bailouts were doing and how the Federal Reserve is manipulating the U.S. economy today. The report published by the Mises Institute (Mises.org) opens up the central bank’s can of worms and shows it for what it is really worth. Sound money advocates, bitcoin proponents, Austrian economists, and libertarians have been warning their friends and family of the Fed’s fraud for years now. The Mises Institute president ends the report’s introduction by stressing that the faith in the U.S. dollar and the Fed’s schemes will be tested in due time. “The Fed is, in effect, a lawless economic government unto itself,” Deist conceded. “It serves as a bizarro-world ad hoc credit facility to the US financial sector, completely open-ended, with no credit checks, no credit limits, no collateral requirements, no interest payments, and in some cases no repayments at all. It is the lender of first resort, a kind of reverse pawnshop which pays top dollar for rapidly declining assets. The Fed is now the Infinite Bank. It is run by televangelists, not bankers, and operates on faith. That faith will be sorely tested.” What do you think about the Mises Institute’s report on the 2020 crash? Let us know what you think about this topic in the comments below. The post US Central Bank Blamed for 2020 Financial Crash: ‘The Fed Is Lawless Economic Government Unto Itself’ appeared first on Bitcoin News. View the full article

Cryptocurrency exchange service Anycoin Direct rolls out a new website for the European market. With their newly designed website, Anycoin Direct aims to make the buying and selling process of cryptocurrencies more accessible for everyone. The personalized design is unique within the cryptocurrency industry and was chosen to create a more reliable and trustworthy appearance. CTO Julian van der Wijst states ‘’With this new approach we’re going to show that getting into cryptocurrency doesn’t have to be difficult or unpersonal’’. Their step-by-step process helps users whether beginner or experienced, carry out fast and secure transactions. Anycoin Direct is a cryptocurrency broker based in the Netherlands and was founded in 2013. They were the first European cryptocurrency broker to offer a live-chat support service, 7 days a week. With their new platform, Anycoin Direct is trying to make cryptocurrency accessible for a larger audience, including less tech-savvy users. A new innovative feature is the adaptive side support bar. This system dynamically shows relevant questions and answers during each step in the buying and selling process. If this system is unable to answer the questions, the Anycoin Direct support team is just one click away for direct assistance. A live chat can be opened 7 days a week to get in touch directly with one of their support agents. Furthermore, they offer in-depth information on all supported cryptocurrency projects making it possible to learn more about your favorite coins. Check out the platform at anycoindirect.eu and try it for yourself. Contact Email Address pr@anycoindirect.eu Supporting Link anycoindirect.eu 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 Anycoin Direct Launches Innovative New Platform appeared first on Bitcoin News. View the full article

India’s cryptocurrency sector is booming during the extended nationwide lockdown. Several Indian cryptocurrency exchange executives have shared with news.Bitcoin.com their record-breaking stats, bullish trends, and positive sentiment despite the coronavirus-driven lockdown. Growing Interest in Cryptocurrency in India as Lockdown Extends India recently extended its nationwide lockdown by another fortnight due to the coronavirus outbreak. While lockdowns have crippled many economies worldwide, the Indian crypto sector is seeing significant growth in interest, trading volumes as well as the number of new users, according to several crypto exchange executives. “I’m seeing more people wanting to spend their time under lockdown in learning and understanding what crypto is, how it works, what are the use cases of various crypto tokens etc.,” Nischal Shetty, CEO of cryptocurrency exchange Wazirx, shared with news.Bitcoin.com on Monday. “People in India are more upbeat about crypto,” especially with the recent cryptocurrency price increases, he described, reiterating the positive trend he observed in April. The Wazirx CEO elaborated: The extended lockdown has led to people showing even greater interest in crypto in India. With millions of people not having the opportunity to work due to lockdown, crypto is turning out to be an opportunity for Indians to trade and earn from it. Sathvik Vishwanath, CEO of cryptocurrency exchange Unocoin, shares the positive sentiment. “Given the crypto industry has opened up two months ago, I would say the industry is happy in spite of lockdown,” he told news.Bitcoin.com on Monday. “This situation is a lot better than the one we faced due to regulatory confusion for two years.” More people in India are looking into cryptocurrency during the extended nationwide lockdown. “With millions of people not having the opportunity to work due to lockdown, crypto is turning out to be an opportunity for Indians to trade and earn from it,” Wazirx’s CEO said. Zebpay chief marketing officer Vikram Rangala sees a similar trend at his exchange. “The extended lockdown has not hurt Zebpay’s business,” he told news.Bitcoin.com. “More likely, being at home gives people time to download our ebooks, learn about crypto, and decide to join Zebpay.” He continued: “We decided to start working remotely even before the lockdown and were already working on work-from-home flexibility, so we were able to adapt quickly … We’ve also been hiring new people at the same rate we would have without the lockdown.” Crypto Exchanges Hit Record-Breaking Volumes All three crypto exchange executives are seeing record-breaking volumes on their trading platforms. “Our trading volume has been increasing rapidly week over week,” Wazirx’s CEO confirmed. “In fact, this week we recorded one of our highest daily trading volume of over $10M.” He additionally revealed, “Our user signups have also shot up tremendously. We also hit an ATH for our weekly active users number last week,” adding: Our trading volume before the lockdown in India used to be around $1M. It has grown over 10X in just 60 days. During the extended lockdown, cryptocurrency exchanges in India are seeing huge increases in trading volumes as well as the number of new users. Sharing the positive sentiment, Zebpay’s CMO said: “just last week we had another record volume (since our January relaunch) day. New registrations and KYCs are also doing well. We’ve added staff and automations to handle the KYC load and new deposits. Other Indian firms also seem to be active and doing well.” He opined: “One thing is clear from everything we’ve seen: India’s crypto winter only increased people’s interest in sound digital assets and new ways to take control of their wealth. That’s not going away.” There are also other factors that could have resulted in increased interest in cryptocurrency as well as trading volumes in India. Unocoin’s CEO pointed out that “both the pandemic and the regulatory clarity happened at the same time in India.” It was only in March that the Supreme Court of India quashed the banking restriction that the central bank, the Reserve Bank of India (RBI), imposed on the crypto industry in its April 2018 circular. During the court hearing, it was also reiterated that cryptocurrency is legal in India. Following the supreme court ruling, crypto exchanges began bringing back INR support. Vishwanath confirmed that on his exchange: The present volumes are definitely 10X than before these two events. He concluded that the only question now would be “would we have done better with just regulatory clarity but not the pandemic and I think it might have been marginally better. Only time will tell.” What do you think about cryptocurrency in India during the lockdown? Let us know in the comments section below. The post Indian Crypto Boom: Exchanges See 10X Trading Volumes During Lockdown appeared first on Bitcoin News. View the full article

Telegram is now forcing U.S investors to immediately exit its TON blockchain project by accepting a 72% refund on their original investment. The encrypted messaging platform’s unexpected volte-face also disqualifies American investors from the loan option, which promised a 110% refund either in Gram token or in any other cryptocurrency. According to a letter sent to investors on May 4, Telegram said American-based investors will not be allowed to stay another 12 months in the project. The decision has been necessitated by regulatory challenges in the U.S., it said. Telegram now expects to launch its Gram token next April, after failing to do so twice in the past. The latest failure came a week ago. “Unfortunately, given your status as an investor from the United States and based on later discussions with the relevant authorities and our lawyers, we made the difficult decision not to use this option with you due to an uncertain regulatory attitude in the United States,” the company stated. Last week, Telegram tabled two options to refund all investors who channeled $1.7 billion into the Telegram Open Network (TON) in 2018: either receive 72% of their investment immediately or loan Telegram for a year, then be paid in cash, Gram or another crypto, with an additional 10% bonus. However, the new letter reportedly retracted from the crypto option too, meaning loan refunds will be in cash or something else apart from digital currency. This is contrary to an offer from a week ago. “….We have made the difficult decision not to pursue an option involving grams or another cryptocurrency due to its uncertain reception from the relevant regulators,” Telegram told investors. The company has faced serious legal challenges. The U.S Securities and Exchange Commission (SEC) wants the Gram project stopped because of alleged illegal activity by the Telegram development team. What do you think about Telegram’s treatment of U.S investors? Let us know in the comments below. The post Telegram Forces US Investors to Take 72% Refund and Exit Gram Token Project appeared first on Bitcoin News. View the full article

Iran has issued a bitcoin mining license to Iminer, a Turkish-based company. Iminer will operate up to 6,000 rigs, with a computing power of 96,000 terahash per second (TH/s) in total. According to media reports, the miner has spent $7.3 million setting up the mining facility, located in Iran’s central city of Semnan. It is the biggest mining farm in Iran, say reports, as the country seeks to leverage bitcoin to ease the impact of U.S economic sanctions. The license granted by Iran’s Ministry of Industry, Mine and Trade has also allowed Iminer to offer trading and custody services in the Middle East country. The 7-year old Turkish company considers itself experienced “in bitcoin mining and investing in the mining sector,” as per its website. Operating the Aladdin range of cryptocurrency mining machines, Iminer claims to have operations spanning five countries – Turkey, Russia, the U.S, Canada, and Iran – and over 300 staff. Miners from as far afield as Ukraine and China are flocking to Iranian shores, drawn by the Islamic state’s cheap electricity. But the Iranian government’s attraction to bitcoin is both political and economic, primarily motivated by the desire of financial freedom from U.S. governmental overreach. Until only last year when mining received official recognition as an industrial activity, the government appeared suspicious of cryptocurrencies, worried about their ability to bypass central authority in financial transactions. However, Iran has issued more than 1,000 crypto mining licenses ever since. Iran, the world’s third-largest oil producer, is hoping to leverage bitcoin to circumvent U.S. economic sanctions, which have severely deciminated the petro-dollar, the economy’s lifeblood. As of right now, the U.S dollar dominates global financial transactions. What do you think about bitcoin mining in Iran? Let us know in the comments section below. The post Iran Licenses $7.3 Million Bitcoin Mining Enterprise, Move Aimed at Easing U.S. Sanctions appeared first on Bitcoin News. View the full article

On May 3, the research and analysis firm Glassnode reported that the overall BTC hashrate touched another all-time high above 140 exahash per second. As miners continue to hash away at the network, there are only seven days left until the notorious block reward halving. Bitcoin Hashrate Climbs Past 140 Exahash per Second In a week’s time on May 12, 2020, the BTC blockchain will experience the third block reward halving since the inception of the network back in 2009. The event means that miners who find blocks will only get 6.25 BTC per block, as opposed to the current 12.5 BTC they can obtain today. Despite the 50% cut in revenue seven days from now, miners have increased processing power quite a bit in the last few weeks. The crypto-analysis firm Glassnode revealed on Sunday that the BTC chain saw well over 140 exahash per second (EH/s), which is an all-time high (ATH) for the network. Market prices also show that BTC values spiked to $9,300 per unit on April 30 and stayed above the $9K range, up until Sunday at 8 a.m. EST. Since the early morning trading sessions on March 3, the price has been hovering below the $9K area, but above the support at $8,500. BTC’s overall hashrate has increased 10X since the price hit $19,600 on Bitstamp on December 17, 2017. At that time, the hashrate was only 14EH/s and it has since increased 935%. BTC’s SHA256 hashrate was over 100EH/s by the end of October 2019. The significant jump over 140EH/s on Sunday didn’t last very long and statistics from charts.Bitcoin.com show the hashrate is 110EH/s on Monday. Bitcoin Issuance a Sharp Contrast to Fiat Currencies – Miners Hoarding With the halving only a week away, the cryptocurrency’s price and hashrate are the two key statistics investors will be watching before, on, and after May 12. U.S. News & World Report senior investing reporter John Divine says the halving is a stark contrast to the recent stimulus packages and fiat creation. “Previous halvings, in 2012 and 2016, respectively, were followed by huge run-ups in the price of bitcoin; halvings are fundamentally bullish for the cryptocurrency and another long-term rally could follow this next one,” Divine explained in a note to investors on May 4. “Bitcoin halving simply illustrates one reason it has earned so much investment. In sharp contrast to fiat currencies like the U.S. dollar – over $2 trillion has been created by the Federal Reserve in 2020 alone – the number of bitcoin in existence has a hard cap, and mass dilution events are fundamentally impossible.” BTC Price at 1 p.m. EST on May 4, 2020. Etoro market analyst Simon Peters has noticed that miners are not selling their freshly minted virgin bitcoins before the halving. “Onchain metrics show that miners as a whole seem to be holding on to their bitcoin at this time instead of selling,” Peters noted on Monday. “The jump in the price of bitcoin means that miners’ don’t need to sell as many bitcoins to cover operational costs. Miners ‘hodling’ could also mean that they are anticipating a continued bull run as we approach the block reward halving,” Peters concluded. What do you think about Bitcoin’s hashrate climbing past 140EH/s? Let us know in the comments below. The post 7 Days Left Until the Great Bitcoin Halving: Hashrate Jumps Over 140 Exahash, Miners Hoard appeared first on Bitcoin News. View the full article