Monthly Archives: May 2020

Up to 30% of Bitcoin Miners Close Shop as Business Turns Unprofitable After Halving

About a third of Bitcoin (BTC) mining firms may already be switching off their machines as the business becomes unprofitable due to a reduction in mining rewards. The third Bitcoin halving – consummated earlier today – reduced supply of the pioneering cryptocurrency, cutting the bonus paid to miners for solving mathematical puzzles that underpin the network by 50% to 6.25BTC per block. According to Alejandro De La Torre, VP at mining pool Poolin, miners who make up between 15% to 30% of the entire BTC network hashrate […]

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Crypto Hedge Funds Doubled Assets Under Management in 2019, PwC Report Says

Cryptocurrency hedge funds’ assets under management doubled in 2019, but the launch of new funds depends on Bitcoin prices. The “2020 Crypto Hedge Fund Report,” published on May 11 by PwC and Elwood Asset Management Services Ltd., said that cryptocurrency hedge funds’ assets under management doubled in 2019.  According to the survey, total assets under management in crypto funds grew from $1 billion in 2018 to more than $2 billion by the end of 2019. The average per fund also doubled, jumping from $21.9 million to $44 million.  […]

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YouTube Cancels Cointelegraph’s BTC Halving Livestream for Being ‘Harmful Content’

What a twist! YouTube pulled the plug on our seven-hour livestream. YouTube’s censorship rabbit hole is deep, especially as it pertains to cryptocurrency topics. Cointelegraph had a full day of programming lined up for a livestream that covered Bitcoin’s third block halving on May 11. The agenda mostly went off without a hitch — fintech luminaries like Tim Draper, Roger Ver, Meltem Demirors, and many more shared their time and opinions with Cointelegraph editorial staff over the course of a livestream that lasted just under seven hours. […]

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Ashton Kutcher Participates in Lolli’s $3M Seed Round

Notable entrepreneurs are backing the seed funding round led by Pathfinder that aims to strengthen Lolli’s app. Bitcoin (BTC) rewards company Lolli announced on Monday the close of an oversubscribed $3 million seed-II funding round led by Pathfinder and investors such as Michelle Phan, Ashton Kutcher and Guy Oseary. According to the announcement, the funding will help launch the company’s mobile application and expand it internationally, with a tentative launch date for the summer. Lolli assures that the app will allow greater accessibility to Bitcoin, allowing users […]

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It Happened: Bitcoin Just Experienced Third Halving in Its History

Bitcoin has just experienced a one-in-four-year event, its third halving, which has cut the miner block reward from 12.5 BTC to 6.25 BTC. The most-anticipated cryptocurrency event of 2020, Bitcoin’s (BTC) third halving, has just taken effect. Occurring only once every four years, the latest Bitcoin mining block reward halving just reduced the Bitcoin block reward from 12.5 BTC to 6.25 BTC. Bitcoin’s third halving event took place at 3:23 PM EST on May 11, according to data from Tradeblock.com. Having overcome the halving, Bitcoin is trading at $8,500, […]

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Bitcoin’s Third Halving Complete: Reward Cut Surprisingly Faster Than Previous Time Estimates

The Bitcoin blockchain has experienced its third block reward halving on May 11, 2020, at approximately 3:21 p.m EST, even though quite a few countdown clocks estimated that the halving would occur on May 12. Bitcoin miners now get 6.25 BTC per block rather than the 12.5 BTC they acquired before the halving. On Sunday, news.Bitcoin.com reported on the bitcoin halving that was expected to happen on May 12, 2020, but due to the speed of the network, it happened to take place on May 11 instead. […]

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Bitcoin Transaction Costs Soar 400% Amid Halving Hyperbole

The average transaction cost for Bitcoin (BTC) soared 414% in the days before the halving, peaking at $3.19 on May 8, from as low as $0.62 on April 26. This is the highest price bitcoiners have paid for a transaction on the network in ten months, according to data from Bitinfocharts. Fees are paid each time a Bitcoin transaction is processed and confirmed by a miner, who pockets the fees, in addition to the block reward, as revenue. High fees typically indicate that demand for processing transactions […]

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Main Barrier to CBDC Is Philosophy, Not Tech, Says European Central Bank Rep

ECB executive board, Yves Mersch, believes that the main impediment for CBDC is philosophical rather than technological. A number of countries like China and Sweden are already experimenting with central bank digital currencies (CBDC). The implementation of this new type of money requires a number of aspects including tech advancement and specific regulation. According to a key official at the European Central Bank (ECB), the main challenge of CBDC is rather philosophical than technological. Yves Mersch, executive board member at the ECB, has again discussed CBDC issues […]

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Crypto.com Launches Plugin for One Million Ecommerce Merchants on Ecwid

Crypto.com is integrating with ecommerce platform Ecwid, which now features a plugin supported by Crypto.com that lets customers pay with crypto on the platform. Crypto.com launched a payment plugin for Ecwid, an ecommerce platform similar to Shopify or WooCommerce. The plugin allows merchants to accept crypto for their products. Crypto.com announced the partnership on May 11. The plugin, called Crypto.com Pay Checkout, lets buyers pay with crypto for their products on ecommerce websites running on Ecwid, which the company claims are more than 1 million. The merchants […]

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Top Crypto Traders Predict Bitcoin Price Direction After BTC Halving

Bitcoin’s price saw wild volatility leading up to the halving. Top crypto traders discuss where the price is likely headed to next. Bitcoin’s (BTC) price has been showing extreme levels of volatility as it consolidates under a key level of $10,000. Previously, the price dropped to as low as $8,100 on May 10, merely a day before the highly anticipated mining rewards halving. Following the 20% drop, traders remain divided on where the Bitcoin price would go next with some traders believing that BTC could immediately see […]

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