Bitcoin

Bitcoin and cryptocurrencies may be the only free-market assets left not manipulated by central banks like the U.S. Federal Reserve. Since the covid-19 outbreak, the Fed has unleashed a massive arsenal of monetary weapons to combat the effects on the economy. After the significant rate cuts, quantitative easing (QE), and buying mortgage-backed securities, analysts believe the Fed could start purchasing stocks in order to quell the economy. Also read: US Mortgage Industry Could Collapse as Housing Crisis Looms, Experts Say The Fed Is Deploying More Than Just a Monetary Policy Bazooka, It’s Unleashing the Whole Arsenal On Tuesday, the U.S. Federal Reserve threw another tool into the financial system by announcing an international repo option in order to curb investors from panic-selling Treasuries. Since the covid-19 outbreak started spreading rapidly throughout the nation, the economy has been hit hard by numerous industry shutdowns across the U.S. After closing borders and shuttin

As the bitcoin halving approaches, crypto-mining ‘death spirals’ and miner capitulation have become prominent topics among digital currency enthusiasts. Despite the trending discussions, Coinshares head of research Christopher Bendiksen published a study that says “[bitcoin] mining death spirals do not actually happen in real life” and the speculation is a “highly theoretical edge case.” Also read: ‘Bull Run May Not Come Immediately After Bitcoin Halving,’ Says Bitmain’s Jihan Wu Bitcoin Halving, Death Spirals, and Miner Capitulation After approximately 210,000 blocks are mined on BTC ’s blockchain, the network’s block subsidy halves and after May 13 , BTC miners will get 6.25 coins instead of 12.5. The halving event happens roughly every four years and the upcoming one, in particular, has caused crypto enthusiasts to speculate on what will happen after the event. Moreover, the recent covid-19 outbreak has caused economic calamity worldwide, as cryptocurrency prices were largely

The U.S. mortgage industry faces collapse once again, this time due to the economic consequences following the coronavirus outbreak and massive job losses. Up to 50% of borrowers could default on their mortgage payments, according to industry estimates. Since the stimulus bill signed by President Donald Trump provides relief for homeowners but does not provide relief for the mortgage industry, companies are worried they may go out of business. Also read: 2x Bitcoin — Wanna Double Your BTC to the Moon? Forget About It Mortgage Industry at Risk The coronavirus outbreak and resulting job losses could result in an unprecedented number of people left unable to make their mortgage payments. Facing a second mortgage industry crisis in recent history, many of the country’s largest mortgage lenders are warning they will soon be pushed to the brink of failure . The breadth of the coronavirus pandemic has sparked industry estimates of between 25% and 50% of borrowers being unable to pay thei

The popular cryptocurrency exchange Binance is allegedly in talks with the owners of coinmarketcap.com in hopes of purchasing the website for $400 million. People familiar with the matter explained the acquisition will be announced this week and could be one of the largest procurements in the cryptocurrency and blockchain industry to-date. Also read: Bitcoin Mining Roundup: BTC Regains 100 Exahash, Miners Close Shop, Pre-Halving Shake-Up Binance Will Reportedly Purchase Coinmarketcap.com for $400 Million Binance has grown quite large since launching in 2017 when the global cryptocurrency exchange was founded by Changpeng Zhao (CZ) and Yi He. The following year in 2018, the exchange was considered the largest in the world in terms of cryptocurrency trading volume. The firm has also acquired the Indian exchange Wazirx, the Beijing-based Dappreview, a derivatives exchange called JEX, Mars Finance, and a digital currency mobile wallet branch called Trust Wallet. Now according to peo

Despite the global coronavirus pandemic, Japan continues to approve more cryptocurrency exchanges to legally operate in the country. The latest one was approved on Monday, bringing the total number of legal crypto exchanges in Japan to 23. Also read: 2x Bitcoin — Wanna Double Your BTC to the Moon? Forget About It First Approved Crypto Exchange This Year Japan’s top financial regulator, the Financial Services Agency (FSA), registered another cryptocurrency exchange operator on Monday. Japan legalized cryptocurrencies as a means of payment under the amended Payment Services Act back in April 2017 and crypto exchange operators are required to register with the FSA. The agency started registering them in September 2017. The latest one registered by the FSA was Okcoin Japan, the Japanese subsidiary of Ok Group. Founded in September 2017, the Tokyo-based exchange has been approved to trade BCH , BTC , ETH , ETC , and LTC , according to the FSA’s website. The exchange will soon launch; i

While most digital assets have been suffering, stablecoins have been surging since the market downturn in mid-March and tether ( USDT ) is capturing more than 70% of BTC trades today. Besides tether, a wide range of other dollar-pegged cryptocurrencies have also benefited this month, as the market valuation of eight different stablecoins combined is well over $7 billion. Also read: Bitcoin Mining Roundup: BTC Regains 100 Exahash, Miners Close Shop, Pre-Halving Shake-Up Considerable Demand for Stablecoins Pushes ‘Dollarized-Token’ Market Caps Northbound Crypto assets have seen better days as far as market values are concerned and on March 30 the valuation of all 5,000+ digital currencies is around $182 billion . Today, more than $7 billion from that number represents eight stablecoins including USDT , USDC, PAX, TUSD, DAI, GUSD, BUSD, and HUSD. Most of that $7 billion derives from USDT ’s market cap, as the firm Tether has reported it now has more than $6 billion in liabilities. Da

Anyone venturing into the digital currency scene understands the significance of performing analyses to evaluate potential gains. Security breaches and hacking are a constant risk when it comes to the realm of cryptocurrencies. Nevertheless, the level of security and protection offered by the trading platform chosen is often overlooked. Consequently, this oversight has so far resulted in a loss of approximately $4.26 billion. Whenever scammers or hackers are successful in their fraudulent practices, this results in an average loss of $43 million. 2 Notorious Cases where Security Failed Reputability and popularity do not guarantee protection from malicious behaviour. To fully understand the gravity of fraudulent activity and security breaches, one must keep in mind some of the most infamous security failures in recent history. 1. Bitfinex Loss: 120,000BTC or $72 million in assets (2016) Considered as one of the most prominent cryptocurrency exchanges globally with about two milli

On Sunday, the Central Bank of Egypt (CBE) announced it had instructed financial institutions in the country to put withdrawal limits in place for cash. Regional reports disclose that Egyptian residents can only withdraw 10,000 Egyptian pounds ($640) and businesses can only withdraw 50,000 pounds ($3,200). The CBE cited concerns over the covid-19 outbreak and also limited automated teller machine (ATM) withdrawals to 5,000 pounds per day. Also read: Bitcoin Mining Roundup: BTC Regains 100 Exahash, Miners Close Shop, Pre-Halving Shake-Up Central Bank of Egypt Enforces Cash Withdrawal Limits at Bank Branches and ATMs The global economy has been suffering from the economic hardships tied to the covid-19 outbreak that has ravaged multiple countries. The coronavirus scare has caused people to question the use of cash due to the uncleanliness of bills. For instance, at the beginning of March, the U.S. central bank told the public it was holding U.S. dollars repatriated from Asian countr

In 44 days, BTC miners will face the third reward halving as the block subsidy will soon shrink from 12.5 to 6.25 coins per block. Following the market carnage in mid-March, BTC ’s hashrate plummeted 44% to a 2020 low of 75 exahash per second (EH/s). Since then the hashrate has climbed back above 100EH/s, but profitability between SHA256 networks like BCH and BSV has been a lot more erratic than usual. Also read: Bitcoin Hashrate Down 45% – Miners Witness Second-Largest Difficulty Drop in History BTC Recaptures 100 Exahash – SHA256 Miners Bounce from Network to Network Chasing Profits Three halvings are just around the corner and people monitoring these networks have been noticing a lot more action within the SHA256 mining ecosystem. The market downturn after March 12, stemming from the covid-19 scare, has caused a massive revenue shift for individuals and organizations mining bitcoins. News.Bitcoin.com recently reported on how bitcoin miners have been selling more coins than