Bitcoin

Hut 8 Mining Corp. has raised $8.3 million from the sale of 6% of its shares to investors. The Canadian bitcoin miner originally intended to raise $7.5 million from the sale, but it was oversubscribed. Totonto Stock Exchange-listed Hut 8 issued about 5.8 million “units” at a price of $1.45 each. Each unit is comprised of one common share. From this, investors have the option to buy another share for $1.80 between now and December 2021. The Alberta-based miner said funds from the offering will be used to upgrade its range of mining hardware including Application-Specific Integrated Circuit (ASIC) miners. The upgrade will add up to 275 petahash per second (PH/s) to Hut 8’s existing mining capacity of 952 PH/s. Once installed, the new machines, which include “more efficient processing chips from Microbt” will also add 12.6 megawatts (MW) of power to the company’s current 107 MW maximum operating capacity. “Hut 8 has been testing the Microbt equipment for the past three months in prep

During the last seven days, the price of bitcoin has dropped 4.8% from a high of $9,700 on June 24, to a low of $8,965 on June 27. Since then the price has increased and the price per bitcoin is back above the $9k zone but much lower than before. The lower price has affected the profits of miners hashing away to find blocks on the network. Ever since they lost 50% of the block reward on May 11, gathering profits have been tough on miners with bitcoin prices at these levels. Mining bitcoin is an extremely competitive industry and after the BTC reward halving on May 11, 2020, it has been much harder to mine the rare digital currency. At the time of publication, the price of a single BTC has been hovering between $9,050 to $9,250 during the last few days. This has given the crypto asset an overall market valuation of between $165 billion to $170 billion during the course of the week. The price is over 4.8% lower than it was on June 24, when BTC prices were hovering around $9,700 las

This week a number of Kleiman v. Wright lawsuit depositions have recently published and are now available for public viewing. One specific deposition with the former Bitcoin Core lead maintainer, Gavin Andresen, casts doubt on the claim that Wright is Satoshi Nakamoto. Moreover, the Bitcoinsv supporter Daniel Krawisz has been speaking out about Wright and mentions there is “plagiarism in several of Craig Wright’s works.” For well over five years now, Craig Steven Wright, has publicly claimed that he invented Bitcoin and that he is Satoshi Nakamoto. This claim has pushed Wright to court because the family of the now-deceased Dave Kleiman thinks that Wright’s multi-year business relationship with Dave means that they both created Bitcoin. The ostensible story has been debunked so much that the greater crypto community does not believe in any of Wright’s tales. This week, a number of depositions have been published and one interesting one stems from the former Bitcoin Core lead mainta

The amount of bitcoin that has not moved in over a year is at an all-time high. The last peak was in 2016, before the bitcoin bull run that saw the price spike to $20K. Several forecasting models have predicted that the price of bitcoin will reach $20K this year and the next bull run could start as soon as next month. Data Resembles Previous Bitcoin’s Bull Run The amount of bitcoin that has not moved in over a year is at 61.59% of the entire supply on Monday, an all-time high, according to blockchain data intelligence provider Glassnode. The company tweeted Sunday: The last time we saw this amount of bitcoin that had not moved in over a year was in early 2016 – preceding BTC ’s bull run to $20K. The amount of bitcoin that has not moved in over one year, two years, and three years, according to data provider Glassnode. Furthermore, the amount of bitcoin that has not moved in over two years is at about 44%, also approaching a new all-time high. This data shows “that we are in a

On June 28, 2020, the team behind Ghost Coin revealed a partnership with the digital currency payment processor Ivendpay. Ghost is a project led by the notorious John McAfee and according to the recent announcement, 60 vending machines in Hong Kong will support the privacy-centric coin for payments. It’s surely never a dull day in John McAfee’s world and this week his Ghost Coin team revealed a collaboration with the crypto payment startup Ivendpay . The startup is a multi-currency payment system that allows people to accept cryptocurrency and other types of electronic fiat payments. Ivendpay supports bitcoin ( BTC ), ethereum ( ETH ), bitcoin cash ( BCH ), binance coin ( BNB ), and more crypto coins at numerous vending machines and points of sale. The company also offers a payment device called the mPOS terminal which enables crypto payments leveraging NFC technology, a dual-screen, and a printer for receipts. On Sunday, the official Twitter account for the Ghost Coin project led

The crypto industry in India is experiencing massive growth, according to a new survey of crypto banks and exchanges. Despite the country’s deepening coronavirus crisis, crypto exchanges say trading volumes and the number of signups continue to grow substantially. India’s Cryptocurrency Trading 2020 Indian media agency Bit2buzz has conducted a survey of local crypto banks and exchanges on the demographics and trading behaviors of India’s crypto industry. The survey aims to understand “trading behaviors of Indians, women representations, and participation, the effect of covid-19 on Indian crypto blockchain entities, and how these crypto and blockchain companies are making waves in India,” the media outlet described. Participating crypto exchanges included Wazirx, Unocoin, Coindcx, Pocketbits, and Bitbns. Cashaa, Bank of Hodlers, and Oropocket were also surveyed. Most of the respondents “reported major youth [ages 18-35] population using their platforms,” Bit2buzz wrote, adding that

A new, comprehensive analysis has predicted the price of bitcoin to reach almost $20K this year and will keep rising to almost $400K by 2030. The researchers have also predicted the future prices of several other major cryptocurrencies, including bitcoin cash, ethereum, and litecoin. New Bitcoin Price Forecast The June edition of the Crypto Research Report (CRR) reveals price predictions for several cryptocurrencies: bitcoin, bitcoin cash, ethereum, litecoin, and stellar. This is the 10th publication of the CRR report and it covers a popular valuation method used to forecast bitcoin’s future price called the “equation of exchange” model. “The equation of exchange model is an absolute approach to valuing crypto assets,” the report begins. “This means that the model gives a target price that crypto assets should be priced at based on assumptions regarding changes in supply and demand.” Noting that “The absolute valuation approach is inspired by Mill’s equation of exchange, later form

U.S. contract mining firm Core Scientific has agreed on a deal to buy 17,600 mining rigs from Chinese bitcoin hardware maker Bitmain Technologies Inc. The company is buying Bitmain’s next-generation bitcoin ( BTC ) miner, the Antminer S19, it said in a statement on June 29. The miners will be fully installed at data centers operated by Core Scientific in the U.S. over the next four months, it added. Washington-based Core Scientific did not provide details about cost, but the deal might come to a total of between $30 million and $42 million. Each S19 machine is currently selling at $1,785 while the newer S19 Pro is going for $2,407, according to the Bitmain shop. Core Scientific said that the purchase is on behalf of its institutional customers and for its own use. It also claims the deal to be the largest acquisition of S19 BTC miners by a single blockchain hosting company. Company president and chief executive officer Kevin Turner commented: Core Scientific has received and b

This month Bitcoin.com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin.com’s Roger Ver showcased gifts.bitcoin.com , a new feature that allows individuals to send BCH gift cards via email. Additionally, Bitcoin.com also launched send.bitcoin.com , a tool that provides users with the ability to send money in a number of local currencies by leveraging bitcoin cash. Bitcoin.com is excited to launch two new features this month that provide more cryptocurrency accessibility on a global scale. Both new features work with email and they both make sending gifts and remittances easy by using the Bitcoin Cash ( BCH ) network. On June 5, 2020, Bitcoin.com’s Roger Ver introduced gifts.bitcoin.com which gives any individual the ability to send BCH to anyone, anywhere in the world via email. The basics of using gifts.bitcoin.com are relatively intuitive and you simply press the “go” tab to create some new g

On June 24, the block explorer and blockchain data platform, Blockchair, announced the launch of a new privacy tool called the “Privacy-o-meter.” According to Blockchair, the new service combats blockchain surveillance companies by highlighting privacy issues for crypto transactions. This week the blockchain explorer and crypto analytics firm, Blockchair , revealed a new tool that aims to show people some of the privacy issues involved with crypto transactions they send. The team has explained that in the future there will be other features coming like address clustering/tagging and other insights that companies like Chainaylsis offer. Blockchair’s Privacy-o-Meter Blockchair was founded in 2016 and has been a popular service that offers data insights to over 15 different blockchains. Some of the supported coins Blockchair’s service tracks include ethereum ( ETH ), bitcoin cash ( BCH ), bitcoin ( BTC ), cardano ( ADA ), and others. The explorer lets people check hashes, addresse

Decentralized finance (Defi) protocol ​Balancer was on Sunday hacked for more than $450,000 worth of cryptocurrency. In two separate transactions, an attacker targeted two pools containing Ethereum-based tokens with transfer fees – or so-called deflationary tokens. Pools with Sta and Stonk tokens were affected by this exploit, Balancer, an automated market marker protocol, said on June 29. The hacker made off with around 601 ether, 11 wrapped bitcoin (WBTC), 22,600 chainlink (LINK), and 61,000 synthetix (SNX) – altogether totaling more than $451,000. According to an analysis by Dex aggregator 1inch.exchange, the attacker used a smart contract to automate multiple actions in a single transaction. First, the hacker obtained a flash loan of $23 million worth of ethereum from the crypto-lending platform Dydx. The money was used to swap Weth to Statera (Sta), a so-called deflationary token, back and forth 24 times until the Sta balance was totally drained. With Sta, at least one per

The infamous and controversial owner of the website bitcoin.org, Cobra, is under fire recently and a number of community members have asked to see the website removed from his possession. The initial argument was sparked by the website’s maintainer, Will Binns, who told the public that bitcoin.org was in “danger of being compromised.” Since then, Cobra has decided to fire Binns and the crypto community has been very focused on watching this quarrel unfold. During the last few years, news.Bitcoin.com has reported on the curious case of Cobra , the peculiar anon with a lot of power. Just recently, bitcoiners have been arguing about Cobra’s ownership of bitcoin.org. Cobra has always been controversial and he’s asked the community to change the Proof-of-Work (PoW) consensus algorithm. Cobra also asked the community and fellow bitcoin.org maintainers to change certain statements Satoshi Nakamoto made in the Bitcoin white paper . Five days ago, bitcoin.org maintainer Will Binns told the

The financial crisis in Lebanon has seen its currency, the Lebanese pound, fall 80%. The International Monetary Fund (IMF) has estimated that the country’s central bank has accumulated losses as much as 170 trillion pounds. The disagreement between the Lebanese government and the central bank has stalled bailout discussions. The economic and financial crisis in Lebanon has deepened as the local currency has been in a free-fall. The Lebanese pound sold at a rate of 8,000 to the U.S. dollar on Sunday at local exchanges, losing about 80% of its value over the past 10 months. The IMF has warned Lebanon that its central bank, Banque du Liban, has accumulated losses of up to 170 trillion pounds, the Financial Times reported on Thursday. The publication explained that the central bank has used “a series of sovereign debt and currency swaps with local lenders … to shore up the banking sector, attract foreign currency and stabilize the Lebanese pound.” Citing people familiar with the matter,

With the fourth of July approaching, many Americans will have to contemplate whether or not the holiday is an empty affair. After the last thirteen weeks of Covid-19 lockdowns, business shutdowns, and police brutality, the lack of liberty and freedoms in the U.S. has never been more apparent. With ideas like bitcoin and concepts that bolster secession, the day is coming when money is completely removed from the state, just as the state was separated from the church centuries ago. Roughly six days prior to the empty holiday, as I read the letters of Independence pronouncement adopted in Philadelphia, Pennsylvania, on July 4, 1776, I say to myself “Americans are not free.” The majority in the United States have surrendered their freedoms and civil liberties to the collective mob. Many individualists are quite certain that most Americans don’t believe in those declarations of independence, and the 27 grievances against tyranny written hundreds of years ago. One reason that validates t