Bitcoin

The UK government is seizing funds in dormant bank accounts worth approximately $185 million to fund its coronavirus relief efforts. So far, 30 banks have been voluntarily transferring money from dormant accounts to the government, including HSBC, Barclays, Clydesdale, Credit Agricole, Danske, Santander, Lloyds, and Bank of Scotland. The government has also proposed adding other types of assets that can be seized, such as insurance policies and share proceeds. Government Unlocks Funds From Dormant Accounts The U.K. government announced last week that “£150 million [$185.74 million] from dormant bank and building society accounts is to be unlocked to help charities, social enterprises and vulnerable individuals during the coronavirus outbreak.” Culture Secretary Oliver Dowden detailed that “This includes accelerating the release of £71 million of new funds from dormant accounts alongside £79 million already unlocked that will be repurposed to help charities’ coronavirus response and

During the last six days, America has been feeling the wrath of a myriad of protests and riots in nearly every major city across the nation. The U.S. is experiencing an uprising like never before, but some of the protests and demonstrations could be more peaceful. Acts like not voting for the political class, and using alternative monies like bitcoin can go a long way when it comes to civil protest. America Is on Fire, Governors Invoke Curfews, National Guard Deploys, and Martial Law Starts Trending on Twitter The protests have become unruly and that is because law enforcement has attacked crowds of innocent peaceful protesters , there are hired groups of inciters there to start violence, state provocateurs have been caught on camera inciting violence, and people are fed up with the decades of police brutality . However, there are other ways people can protest the nation-state’s wrongdoings and immorality, by simply not participating in the corrupt system. By leveraging bitcoi

In mid-May, news.Bitcoin.com reported on one of our mining pool videos being censored and banned from the video-sharing platform Youtube. The report had shown how Youtube has been censoring videos for a long time now, and the CEO specifically told the public certain coronavirus films would be removed. Youtube’s censorship has caused a number of individuals to search for decentralized video sharing platforms, and one particular project called Lbry.tv has been gathering a lot of traction. Censored Youtubers Are Migrating to Lbry.tv Censorship is abundant these days, as many of the massive social media platforms and video sharing sites are censored and policed on a regular basis. Just recently, Bitcoin.com’s official Youtube account was warned for sharing a video about bitcoin mining and people witnessed mass censorship on Youtube caused by the coronavirus. Months before Covid-19, many crypto-focused Youtube channels were also banned and removed from the platform. The iron curtain te

The one who called himself Satoshi Nakomoto, created cryptocurrency so that anyone can keep their financial life untouchable and protected from the interference of others. However, requirements of customer disclosure put these principles at risk and ordinary users under threat of theft, extortion, and even kidnapping by bandits. Find out how you can protect yourself from this. Why Should Your Cryptocurrency Be Anonymous? To ensure the inviolability of personal financial information when creating cryptocurrency, Blockchain, which is a decentralized data storage system that can not be cracked, was taken as the basis. But the requirements of mandatory checks KYC / AML, then put forward by governments of many countries to companies operating with cryptocurrencies, do not contribute to maintaining the confidentiality of users personal info. The problem is that companies such as crypto exchanges are favorite targets for hacker attacks, when personal data of users fall into the hands of a

The Federal Reserve System was created after the “Panic of 1907” and ever since its inception in 1913, the Fed is one of the most powerful modern central banks in the world. Moreover, the Fed has always been either celebrated or criticized for stepping in whenever the U.S. is stricken with some kind of fear. During the coronavirus outbreak, the central bank has unleashed a massive number of monetary easing tactics, which has prompted editors from Wikipedia to add updated information to the Fed’s Wiki page. The central bank’s page now states: “[the] COVID-19 pandemic in 2020 [has] led to the expansion of the roles and responsibilities of the Federal Reserve System.” Panic at the Knickerbocker Trust – 1907 During the last few months, Americans have witnessed the power of the Federal Reserve’s shenanigans as the central bank has created trillions of dollars out of thin air . The expansion of the Fed’s balance sheet has ballooned to upwards of $6.9 trillion and the bank slashed the be

China has passed the country’s long-awaited civil code which expands the scope of inheritance rights to include cryptocurrency, such as bitcoin. Inherited cryptocurrencies will be protected under the new law. Meanwhile, several Chinese courts have recently ruled that bitcoin and ethereum are properties protected by law. Inherited Cryptocurrencies Protected by Law The third session of the 13th National People’s Congress (NPC), China’s top legislature, voted on and passed the “Civil Code of the People’s Republic of China” on Thursday. In addition to general and supplementary provisions, the civil code ”includes six parts on real rights, contracts, personality rights, marriage and family, inheritance, and tort liabilities,” Xinhua News Agency reported. Noting that the decision to draft a civil code was announced in October 2014 and the legislative process started in June 2016, the news outlet detailed: [The new civil code] states that the property rights of individuals are equally s

Hong Kong, 30 May, 2020 – ViaBTC Group, an innovative technology company specialized in blockchain and dedicated to providing users with comprehensive digital asset management services, today announced a strategic upgrade, which included a new organizational structure, product innovations and service improvements. As part of the change, the Group has established three dedicated business units (BU): the financial services BU, consisting of ViaBTC mining pool and CoinEx exchange; the infrastructure services BU, including ViaWallet and Blockchain Explorer; and the ecological development BU, focusing on the research and development of public chain technology and the construction of the ecology. “This new streamlined structure will empower our next phase of evolution by further aligning the group’s activities with the development of customer solutions,” said Eddie Jiang, VP of the Group. “Operations of CoinEx exchange and ViaBTC mining pool will be integrated, deriving diversified produ

Bitcoin ( BTC ) average transaction fees dropped by nearly 60% in the last week, as the number of transactions queuing up to be processed on the network eased. According to data from Bitinfocharts, the cost of making a transaction over the Bitcoin blockchain fell to around $2.61 on May 28, down from just over $6.28 six days earlier. As a percentage of revenue for BTC miners, fees have also declined to just under 10% from 21% on May 20. Transaction costs had soared over 220% since the May 11 scheduled bitcoin supply cut, capping off a rally that began two weeks prior to the event. The sharp fall in fees is thanks to transaction activity getting back to normal, helping to decongest the network, as represented by the Bitcoin memory pool, called mempool. The memory pool consists of all transactions waiting to be confirmed by the Bitcoin network. Data shows that the number of unconfirmed transactions in the mempool has dropped by more than 70% over the last seven days, causing fees

Around 18 days ago, the Bitcoin protocol experienced it’s third block reward halving and the network saw a 33% hashrate loss. Since then, however, bitcoin miners have increased in both number and hashpower, as the network has seen a 15-20 exahash per second (EH/s) increase. Moreover, on May 22, there were 17 mining pools hashing away at the Bitcoin network and now there are 32 pools. Bitcoin Hashrate Rebounds Mining bitcoin is a competitive industry. The mining competition grows stronger each and every year. After the Bitcoin ( BTC ) network’s third halving, a number of miners dropped off the network. During the worst of it, the overall SHA256 hashrate lost around 47 exahash per second (EH/s). Since then the hashrate has increased around 15 to 20 EH/s, depending on which monitoring tool you use. For instance, Blockchain.com’s data shows the hashrate measured on May 27, 2020, is around 92 EH/s . According to the web portal fork.lol, which gives a closer look at today’s current hash

According to Bitpay’s Chief Marketing Officer, Bill Zielke, onchain bitcoin payments still rule the roost as far as payments are concerned. Zielke detailed that at least in the near future, Bitpay won’t be supporting the Lightning Network or Blockstream’s Liquid project. Liquid or the Lightning Network Not on the Roadmap The top cryptocurrency payment processor Bitpay says the company won’t be leveraging the Liquid project or the Lightning Network any time soon. Both projects are offchain solutions that have been touted as the answer to BTC ’s scaling issues. However, both projects have seen little adoption compared to the Ethereum chain’s solutions. As far as bitcoin total value locked (TVL) within the chain, Ethereum is BTC ’s most prominent sidechain . This week, Bitpay’s Chief Marketing Officer Bill Zielke told fintech and crypto columnist, Kyle Torpey, that onchain bitcoin payments are the most prevalent of payments on the Atlanta-based company’s system. “As of March, Bitcoin