Cryptocurrency exchange Binance, which launched with 0% trading fees in an attempt to heat up competition among exchanges, recently announces its Q1 results and revealed that, as planned in its whitepaper, it burned 986,000 Binance Coins (BNB), worth about $1.5 million. These, the exchange revealed, equaled 20% of its profits. The exchange’s whitepaper details...
China’s cryptocurrency ban could be a temporary move to appease international agencies and certain communist party members ahead of the upcoming Communist Party convention, according to Panos Mourdoukoutas, an economics author and professor at LIU Post in New York, writing in Forbes. Mourdoukoutas observed that China’s government and major banks are threatened...
The bitcoin price surged past $4,875 on Monday as traders began to flee from the altcoin markets and pour their wealth back into bitcoin ahead of the SegWit2x hard fork that is scheduled for November. Bitcoin Price Surges Past $4,875 Bitcoin’s dominant hold on the cryptocurrency economy had tapered throughout 2017,...
Much of the bitcoin community is resistant to the idea of centralized control. So it shouldn't come as a surprise that some have developed a similar opposition to bitcoin scaling proposals that appear to have centralized leadership. And, some would argue there's no bigger offender in this vein than Segwit2x. A majority of major mining pools have pledged to trigger Segwit2x with...
"Dear all, you are probably wondering why this has been left so long, no company wishes to bring bad noise to their corp, and also why we/I am being so transparent here, as I believe that the industry needs to protect the adopters until regulation comes into force. I was...
Segregated Witness (SegWit) has reached its lock-in threshold. The long-debated scaling upgrade reached the necessary threshold to "lock in" today at block 479,707 with 100% of bitcoin mining pools signaling support for the proposal. According to network data, the block was mined by BitClub. But the change won't officially lock-in until tomorrow, once...
The Central Bank of Nigeria is said to be taking a closer look at blockchains and cryptocurrencies. According to a report in The Guardian this week, Musa Jimoh, a deputy director at the country's central bank, recently spoke at a cryptocurrency-focused conference in Lagos, Nigeria's largest city. There, Jimoh indicated that...
Bitcoin, bitcoin cash, bitcoin gold? There could be as many as four cryptocurrencies bearing the bitcoin name if a small group of miners and developers carry out a planned fork of the blockchain this month. Styled as a rebellion of sorts, bitcoin gold aims to follow a similar launch plan as bitcoin cash – the blockchain...
A recent article in the Wall Street Journal critiqued Bitcoin for having an unusually volatile quarter, with prices ranging from peak levels at $5,000 all the way down to $3,000 lows. Such volatility is unprecedented, according to the author who said:  “Bitcoin more than doubled in price, then plunged by a third in what...
According to an article published by Business Insider, Dutch bank ING recently published a study suggesting that bitcoin mining consumes too much electricity. The report claims that a single bitcoin transaction consumes as much electricity as a house in a whole month, and compares it to the amount of electricity traditional electronic payment methods...