Op-Ed: Challenge of Mining Centralization Unveils Bitcoin’s Elegant Design

Last year, growing problems of Bitcoin mining centralization came to light with the controversy of an AsicBoost scandal. As a largely centralized hash rate began to threaten the software’s magical property, concerns were raised that incentives at the crux of Bitcoin’s game theory had broken away.Now, the power of miners, harnessed by economic incentives, escaped accountability by attacking Bitcoin’s SHA 2 hashcash and exploiting it. This further gained advantage through vulnerability in the network’s interface with the old world of Read more …

Bitcoin Cash Price Weekly Analysis: BCH/USD Facing Tough Resistance

Key Points Bitcoin cash price started a new upside wave from the $650 support area against the US Dollar. There are two bearish trend lines formed with resistance at $770 and $810 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair must break and settle above the $800 resistance zone to gain upside momentum. Bitcoin cash price is slowly recovering above $700 against the US Dollar. BCH/USD has to move past the $800-810 barrier to Read more …

New Coinbase Pro Platform Off to a Rocky Start Amid Flurry of Criticism

Digital currency exchange Coinbase shuttered GDAX on June 29th and transitioned to Coinbase Pro. The new interface is marketed as an upgrade but has received a lot of initial criticism.   Coinbase has been very busy over the last few days. Responding to criticism about failures with their customer service, the exchange said on Thursday how they are planning to open a new office in Portland Oregon. An official announcement from the company says the new location will be hiring Read more …

3 Reasons Bitcoin is Singing the Blues

The price of Bitcoin has been resting at around $6,000 recently — a disappointing 2018 low point. With so much talk and news coming out about cryptocurrency, many dejected investors are wondering ‘What is holding Bitcoin back?’ ‘Chain Gang Blues’ Bitcoin has had many great upgrades recently, especially with the addition of the Lightning Network earlier this year. This payment channel system was designed to allow person-to-person transactions, rather than busy up the main network. Lightning Network has helped to Read more …

Abu Dhabi Global Market Launches Regulatory Framework for Crypto Activities

Regulation The financial authority of Abu Dhabi Global Market has launched a regulatory framework for cryptocurrency activities following the completion of a public consultation. The market’s financial watchdog has also published a guideline explaining how crypto asset activities are now regulated. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Crypto Regulatory Framework Launched Abu Dhabi Global Market (ADGM) announced this week that it has launched a “framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians Read more …

Floods in China Heavily Damage Major Crypto Mining Operation

Recent floods in the Sichuan province of China have reportedly resulted in heavy damage to a major cryptocurrency mining operation in the area. The news was published on a local blockchain and crypto information platform Golden Finance (金色财经) June 30. Ecns, the official English-language outlet of the China News Service (CNS), has reported that Sichuan and four other provinces in China experienced heavy rains on June 27 and 28, resulting in floods. Golden Finance claims that a major cryptocurrency mining Read more …