Bitcoin

The countdown to the much anticipated May Bitcoin halving event is finally over, and all key players expect this event to go down in their favor. Bitcoin miners are perhaps the most affected by this third halving. They had to invest more in equipment, will have to work more complex mathematics, and above all, earn 50% of what they received four years ago. The other groups anticipating this event are seasonal investors for the hype and seasoned bitcoin investors, some…

Some cryptocurrency market participants believe that mass adoption of cryptocurrencies is related or influenced by the governments’ willingness to provide favorable regulatory framework. Some governments worldwide have been up to the task and are working towards the establishment of such regulations, while others are still considering it. On May 11, the Ministry of Finance in Vietnam said it will come up with a research group responsible for examining and making policy proposals about cryptocurrencies and virtual assets. The research group will assist…

From pool mining to solo mining and cloud mining, there are many ways of obtaining Bitcoin. Well, going on point, cloud mining is a form of bitcoin mining that employs a remote data center with shared processing power to allow users to mine bitcoins or alternative cryptocurrencies without owning or managing mining hardware. In such an arrangement, users must register on the platform and purchase mining contracts or shares with the mining company running and maintaining mining rigs. Crypto mining…

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China is still strengthening the regulatory space in its economy as it has just suggested new restrictions on online lending. Banking regulator in the country asked for public opinion on another guideline for banks’ Internet loans, towards tightening scrutiny of the banking domain through the improvement of risk management and enhancement of consumer protection. This new guideline stipulates issues which include the maximum loan amount, repayment period, and the purpose of the loan. According to the China Banking and Insurance Regulatory Commission, the…

Bitcoin halving will happen on May 12 and there are many perceptions and forecasts regarding its effect on the cryptocurrency space. The event will affect miners. According to Johnson Xu, at research company TokenInsight, the event will ultimately eliminate every inefficient miner. While speaking with Decrypt, Xu noted that finding cheaper electricity is the means of keeping these energy-intensive machines profitable following the event. The halving event will reduce miners’ profit by fifty percent on Tuesday. That is, the revenue from…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $242 billion. Bitcoin ends the week with a 20% drop after reaching $10,000 mid-week Ethereum loses almost 12% to trade below $200 once again. XRP price briefly goes over the 0.20 barrier only to drop below it on the weekend Most of the top-20 altcoins are bleeding massively following BTC’s sudden drop. The COVID-19’s…

Some perpetrators targeted a multinational financial institution based in Spain, Banco Santander. It is an online heist that involved the sum of $900,000. However, it was forestalled following the seizure of the money by local over-the-counter (OTC) cryptocurrency exchanges. After the heist, they quickly tried the conversion of the stolen funds into Bitcoin. The local press, known as the Bitcoin Portal, said due to the huge sum of money involved, this prompted several of the bank accounts of the exchanges…

Bitcoin emerged in 2008 and two years later in 2010, a website declared it dead. Interestingly, Bitcoin continues to grow such that it is now incurring a bull run as it is moving towards $10k price level. However, the website that declared it dead at the time is no more. The leading cryptocurrency has been proving its critics wrong based on its success over the last decade. Critics say many things about Bitcoin; some say it is a scam, Ponzi…