In 2019, miners have been revving up their ASIC to make use of the last Bitcoin block rewards before the halving in May 2020. The extremely high mining activity also meant that during some time periods, the network blocks arrived less than 10 minutes apart. Bitcoin Blocks Produced Ahead of Schedule In 2019, the Bitcoin network produced the 18 millionth coin a bit ahead of schedule. Based on TrustNodes research, miners discovered about 147 blocks per day, instead of the requisite 144 blocks. On average, this meant miners distributed an…
Read MoreMonth: November 2019
Travala Partners With Booking.com – 90,000 Crypto Accepting Destinations Added
On Monday, the cryptocurrency-accepting online travel agency and metasearch engine Travala announced a strategic partnership with the firm Booking.com. According to Travala the collaboration adds Booking.com’s accommodation listings to the Travala portal, adding 90,000 destinations to over 230 countries worldwide. Also read: With Christmas Approaching, Here Are Some Travel Sites Accepting Crypto Travala Partners With Accommodation Aggregator Booking.com During the last few years cryptocurrencies have been adopted by lots of companies, and crypto users can now spend their assets on all types of goods and services. The company Travala.com, launched…
Read MoreIDAX Exchange: What’s Really Happening to Withdrawals
The China-based IDAX exchange caused jitters after suffering withdrawal troubles in the past days. But it turns out the backlog of withdrawals is most likely due to the company’s decision to leave the market in mainland China. IDAX Still Shows Active Operations IDAX saw unconfirmed rumors of its CEO disappearing, taking with him private keys to the exchange’s cold storage. On Weibo.com, a story appeared suggesting IDAX was now insecure, and possibly the next exit scam in the sector. Reportedly, IDAX fired many employees, and the remaining ones could not…
Read MoreGold and Silver Follow Similar Trend to Bitcoin, React to News About China
With crypto prices moving after almost every positive or negative bit of news related to China, gold and silver markets have been reacting to such events as well. With some exceptions, the overall trend in their value has been negative since September. The prospects of both digital coins and precious metals seem to be more and more dependent on China’s growing influence. Also read: When Bitcoin Overtakes Gold – How High Can It Go? Prices of Precious Metals Decline Since September Gold and silver have had a hard time recently,…
Read MoreCoins Should Be Ranked By Nodes Not Market Cap, CoinMonks Say
Ranking coins by the number of nodes may give more insight into the value and potential of a crypto asset. The current ranking based on market capitalization may be misleading, CoinMonks argue. Nodes Not Market Cap A recent blog posting by CoinMonks explored the messages behind the various networks and their number of nodes. At the lead are indeed the top coins by network participants – Bitcoin (BTC) with currently upward of 9,300 nodes, and Ethereum (ETH), with more than 7,500. The list of assets paints an entirely different picture…
Read MoreBitTorrent Creator Tees Off Against Ethereum
Bram Cohen, the creator of BitTorrent, recently spoke out against Ethereum in a 28-post tweetstorm outlining his concerns about the project’s viability. The crypto community is no stranger to drama, and a new one is seemingly unfolding right now. Recently, Ethereum’s co-founder, Vitalik Buterin, shared a text under the title of ‘Hard Problems in Cryptocurrency: Five Years Later.’ In the text, he elaborates on different aspects, plans, and issues that are or might start affecting the crypto industry, and especially Ethereum. However, while Buterin seems to be generally concerned about…
Read MoreCrypto Markets Surging on Back of Rising US Tech Stocks?
A recent rally of technology companies’ shares led to an overall increase in US stock prices, which are hitting new records. Could this bullish activity be the cause of today’s crypto recovery? US and China willing to continue with the talks The US/China trade war still rages on, but recent events have had some positive impacts on the prices of stocks around the world. The recent increase comes directly after China’s officials announced speeding up of penalties and punitive action for patent infringement and copyrights. Meanwhile, the US declared that…
Read More3 Ways US Congress May Approach Bitcoin Taxation
With the U.S. Internal Revenue Service looking to enforce more stringent Bitcoin tax compliance, several stakeholders say Congress should step in to clarify the way virtual currencies should be treated for tax purposes. The following are three possible ways lawmakers could approach bitcoin taxation. ‘De Minimis’ Bitcoin Taxation Exemption Using bitcoin and cryptos for microtransactions could cause tax headaches since the IRS classifies virtual currencies as properties. To this end, some commentators say bitcoin taxation laws should include a de minimis exception. Such an exception would see the crypto owners…
Read MoreBankrupt DX Exchange Reportedly Didn’t Pay Israeli Suppliers and Employees
It was recently reported that digital assets trading platform DX Exchange ceased operations and was looking for a way to exit the market via a merger or a sale. New details from Israel show that the exchange reportedly didn’t even have the cash flow to pay its suppliers and employees. Also Read: Crypto Winter Claims Another Victim as DX Exchange Closes New Details Emerge on DX Exchange Estonia-registered DX Exchange announced on November 3 that the platform was not allowing any more deposits from clients, trading was suspended and all…
Read MoreDon’t Blame China: Why BTC Still Can’t Compete With Fiat
In the wake of recent price movements, doubts are beginning to crop up more and more around BTC maximalist circles. As focus shifts from Satoshi’s founding vision of the coin as cash to a mere digital gold to be saved and “cashed out” later, valid questions are indeed raised. Financial news outlets, advocates of other cryptos, and even holders of BTC themselves are wondering whether blaming every single price event on China is really an honest assessment, or if a basic lack of utility and development may also be at…
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