Bitcoin Hash Rate Hits 80 Quintillion for the First Time

Bitcoin (BTC) surpassed another milestone on Thursday, August 8, as the world’s leading cryptocurrency’s hash rate hit 80 quintillion for the first time. This news comes during a good week for BTC, which saw the coin’s value top $12,000 USD twice in three days amid fears that a global recession is on the horizon. What is…

Bitcoin (BTC) surpassed another milestone on Thursday, August 8, as the world’s leading cryptocurrency’s hash rate hit 80 quintillion for the first time.

This news comes during a good week for BTC, which saw the coin’s value top $12,000 USD twice in three days amid fears that a global recession is on the horizon.

What is Hash Rate?

In its simplest terms, hash rate is a measure of the processing power of the Bitcoin network. When Bitcoins are mined, a difficult mathematical puzzle must be solved before mined coins can be added to the …

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Blockstream launches bitcoin mining facility and pool

Blockstream, the Canadian Bitcoin technologies company, is launching a bitcoin mining facility and mining pool, the firm announced in a blog post Thursday.The post Blockstream launches bitcoin mining facility and pool appeared first on The Block.

Blockstream, the Canadian Bitcoin technologies company, is launching a bitcoin mining facility and mining pool, the firm announced in a blog post Thursday.The post Blockstream launches bitcoin mining facility and pool appeared first on The Block.

Chipmixer Used to Launder BTC from Recent Binance Hack

On May 8, major crypto exchange Binance was the victim of its second major hacking. On this occasion, the thief/thieves made off with 7,000 Bitcoin, which valued at approximately $40 million USD at the time. (That same amount of BTC is worth almost double that at current rates.) Now, several months on, it has been…

On May 8, major crypto exchange Binance was the victim of its second major hacking. On this occasion, the thief/thieves made off with 7,000 Bitcoin, which valued at approximately $40 million USD at the time. (That same amount of BTC is worth almost double that at current rates.) Now, several months on, it has been discovered that at least 4,836 Bitcoin of that stolen loot was laundered through crypto mixing service Chipmixer.

Stolen BTC Laundered through Chipmixer

After Binance was hacked, the stolen coins were moved to seven addresses. Then, according to research published by Luxembourg-based …

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Congressman Ted Budd Brings Back the Crypto Tax Bill

North Carolina Congressman Ted Budd has introduced a tax bill in the United States House of Representatives seeking to refine cryptocurrencies’ treatment by the Internal Revenue Services. The bill will amend the Code allowing the exclusion of losses or gains on similar crypto transactions. Reviewing the Internal Revenue Code The bill has been called the…

North Carolina Congressman Ted Budd has introduced a tax bill in the United States House of Representatives seeking to refine cryptocurrencies’ treatment by the Internal Revenue Services. The bill will amend the Code allowing the exclusion of losses or gains on similar crypto transactions.

Reviewing the Internal Revenue Code

The bill has been called the Virtual Value Tax Fix Act of 2019 and is being reintroduced by Congressman Ted Budd, having been first introduced in the previous Congressional session. The bill is being put before the House Committee on Ways and Means, and it seeks to …

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Tezos (XTZ) Gains 200% YTD As Buyers Get Excited

Tezos (XTZ) is making solid gains this year amid continuous buying activities on multiple developments. Key Developments For as long as the crypto sphere has existed, Bitcoin has been synonymous with it, and this is only natural, considering the fact that it is the cryptocurrency with the highest market cap. Moreover, Bitcoin’s rise has been…

Tezos (XTZ) is making solid gains this year amid continuous buying activities on multiple developments.

Key Developments

For as long as the crypto sphere has existed, Bitcoin has been synonymous with it, and this is only natural, considering the fact that it is the cryptocurrency with the highest market cap. Moreover, Bitcoin’s rise has been nothing but spectacular, and any fluctuation in the price of the token can result in similar effects on all other tokens. In other words, Bitcoin remains the most powerful cryptocurrency in the world, and it is not only because of the …

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Bitcoin Breaks $12,000 Amid Global Recession Concerns

Bitcoin price broke $12,000 USD for the second time in three days on Wednesday as the notoriously volatile cryptocurrency develops a reputation among investors as a safe-haven currency amid concerns as the global economy heads towards recession. This takes BTC’s week-on-week gains to $2,000 USD. Following on from 2018’s cryptocurrency crash, BTC enjoyed six months…

Bitcoin price broke $12,000 USD for the second time in three days on Wednesday as the notoriously volatile cryptocurrency develops a reputation among investors as a safe-haven currency amid concerns as the global economy heads towards recession. This takes BTC’s week-on-week gains to $2,000 USD.

Following on from 2018’s cryptocurrency crash, BTC enjoyed six months of steady increases during the first half of 2019. However, in June the price of BTC nosedived yet again with nearly $4,000 USD being knocked from its value in under a week. After some wild fluctuations over the summer months, which …

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Crude Oil Price Forecast – Crude oil markets get hammered

The crude oil markets broke down significantly during the trading session on Wednesday, as several central banks around the world cut rates overnight. Because of this, there are serious concerns about the possibility of global growth.

The crude oil markets broke down significantly during the trading session on Wednesday, as several central banks around the world cut rates overnight. Because of this, there are serious concerns about the possibility of global growth.

BlockFi Raises Over $18 Million USD in Funding Round

US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday. BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new…

US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday.

BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new capital will reportedly be used to expand the array of products on BlockFi’s existing platform that includes interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans. BlockFi also plans on using the investment to double its number of employees to 60 …

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Richard Heart on Bitcoin reaching $110,000, scaling, and Hex

Last week, I had the absolute pleasure of speaking to Richard Heart, Bitcoin millionaire and founder of Hex. You can watch the full video of our talk below. Despite some minor technical difficulties, eventually we were able to discuss a plurality of topics ranging from Bitcoin's early mining history to how the coin can be…

Last week, I had the absolute pleasure of speaking to Richard Heart, Bitcoin millionaire and founder of Hex. You can watch the full video of our talk below. Despite some minor technical difficulties, eventually we were able to discuss a plurality of topics ranging from Bitcoin's early mining history to how the coin can be adopted worldwide. And of course, we discussed his current project – Hex – and how the company aims to bring value to Bitcoin and Ethereum holders. Bitcoin's purpose One of the topics I was keen to discuss with Richard was, of course, Bitcoin's purpose and its use cases. To me, it started as a P2P payment network that quickly became a store of value asThe post Richard Heart on Bitcoin reaching $110,000, scaling, and Hex appeared first on Coin Rivet.

Cryptocurrency market update: Altcoin recovery ahead?

Bitcoin has rebounded spectacularly over the last few days, with price up 25% since last Monday. However, the altcoin market is still looking gloomy, with many top altcoins continuing to trade well below expected key levels. However, should traders and investors really be worried? After all, aren't these kinds of retracements welcomed by enthusiasts to…

Bitcoin has rebounded spectacularly over the last few days, with price up 25% since last Monday. However, the altcoin market is still looking gloomy, with many top altcoins continuing to trade well below expected key levels. However, should traders and investors really be worried? After all, aren't these kinds of retracements welcomed by enthusiasts to make new entries? Remember that in the previous bull run, price would often retrace between 30% to 40% a few times before reaching all-time highs. Therefore, there's still potential for the altcoin market to recover soon and start following Bitcoin as the bull market pushes on. Let's take a look at how I believe the top coins will behave over the next week. Bitcoin AtThe post Cryptocurrency market update: Altcoin recovery ahead? appeared first on Coin Rivet.