2019’s Bitcoin Miners Are 5x Faster Than Predecessors

High-powered bitcoin miners and next-generation semiconductors go hand in hand and as process node technology grows, SHA256 hashrate follows. Coinshares’ recent bi-annual mining report highlights that newly introduced mining rigs have “as much as 5x the hashrate per unit as their generational predecessors.” Advanced chip technology has grown relentlessly and it’s significantly bolstered ASIC device manufacturing. Moreover, news from the International Electron Devices Meeting (IEDM) held on December 7-11 shows that the semiconductor industry is moving beyond the 7nm, 5nm, and 3nm processes and expects to design 2nm, and 1.4…

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VeChain Loses 1M Coins from Compromised Buyback Wallet 

The VeChain (VET) buyback program, which boosted the token price, was shaken by a recently discovered loss from the central wallet. The most probable cause was an insider gaining access to the wallet’s private keys, or a human error leading to an exploit. Insider Procedure Flaws Led to Theft VeChain reported 1 million coins lost and has already notified exchanges of the asset movements and involved addresses. The team has also contacted law enforcement in Singapore, as announced in the blog message. Security breach was most likely due to misconduct…

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Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

If you bought synthetix (SNX) this time last year, you don’t need to read these words. You’re already rich after your moon bag lived up to its billing and pulled a 50x. Despite the era of undiscovered gems tapering off in 2018, there’s still a handful of tokens that achieve the impossible each year, making their holders ridiculously rich. Seele, synthetix, and link were among this year’s biggest winners. Which tokens will be next to 50x in 2020? Also read: Lightning Network Wiki Page Faces Removal for Lack of Notability…

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Lisk Lays Off 21 Staff, Experts Quit

The Lisk (LSK) project, one of the most high-profile ICOs from 2016, came upon hard times. Despite the relatively solid backing, LISK ended up having troubles keeping all of its staff. Loses Team to Layoffs, Developers Leaving Lisk’s team was one of the most significant features of the project, and the startup held offices in Berlin. But the long downturn in crypto asset prices led to a drive to make a leaner operation. The message from Co-Founder Max Kordek, as shared in a recent Reddit thread, read, Today, at Lightcurve,…

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Buying Bitcoin Pays when Tether Prints

Another chart of Bitcoin (BTC) price movements shows that in hindsight, periods of appreciation coincide with active, concerted minting of Tether (USDT). Bitcoin Cycles Coincided with USDT Printer In hindsight, Bitcoin price moves upward coincided with the printing of Tether (USDT). The correlation was especially flagrant in 2017, when the supply of USDT expanded in the millions for the first time. But in 2018, there were also distinct periods that matched the effect of USDT action. As the year comes to a close, it’s always useful to remember the impact…

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Basel Committee Seeking Global Crypto Standard

The Basel Committee on Banking Supervision (BCBS) published on Thursday a discussion paper on the treatment of crypto and digital assets. Central Banks Expected to Share their View on Crypto The BCBS, an international body that has central banks as stakeholders, wants a global standard to approach cryptocurrencies and blockchain-based assets. The committee published a paper and expects the reaction of central banks by March 2020. The BCBS admitted that the size of the crypto market is meaningful to be monitored by central banks. However, the committee, which is related…

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Lightning Network Wiki Page Faces Removal for Lack of Notability

A slew of Wikipedia editors would like to delete the Lightning Network (LN) Wiki page because the subject matter does not hold notability. Wikipedia editors use notability as a test to find out if a topic warrants its own article. The LN article debate on Wikipedia is still raging as a few editors believe the subject is “dredging for mainstream press coverage” while highlighting that the article does not have reliable third-party sources. Also Read: Mainstream Investment Vehicles Tied to Cryptocurrencies Grow Exponentially Lightning Network Wiki Article Questioned for Notability…

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Ripple and XRP Mentioned in Official US Bill Proposal

A proposed bill on remittance insurances mentions Ripple and XRP as the newest developments in payment channels. Increased cross-border remittances have alerted US regulators to the opportunities for tracking and securing funds. Potential Future Platform for Significant Remittances Ripple’s XRP was mentioned in relation to cross-border payment systems in the proposed bill text. The pending action, a document on Remittance Transfers Under the Electronic Fund Transfer Act (Regulation E), is still in discussion until January 2021. The mention was immediately recognized as potentially positive for XRP on social media. Remittance…

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Lagarde Sees Demand for Stablecoins, Plans to Put ECB ‘Ahead of the Curve’

At her first press conference as head of the European Central Bank (ECB), Christine Lagarde outlined her plans to lead the ECB “ahead of the curve” in the field of digital currency. “There is clearly a demand out there that we have to respond to,” she said, referring to stablecoins. Also read: Regulatory Roundup – Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency Lagarde’s Plans to Put ECB ‘Ahead of the Curve’ New European Central Bank (ECB) President Christine Lagarde talked about her digital currency plans while explaining other monetary…

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Bitcoin Miner Manufacturer Canaan’s Shares Crash 40%

Canaan shares recently crashed by as much as 40% on Nasdaq, which was likely caused by the continuous pressure on Bitcoin price. Bitcoin miners are in a tight spot once again, as Bitcoin’s price continues to experience pressure. Miners were known to withdraw from the mining industry when the price dropped in 2018, simply because it was not profitable enough for them. These days, the mining difficulty is growing, while the price barely manages to remain stable. With the upcoming block reward halving, scheduled for May 2019, and the lack…

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