80% of the 21 Million Bitcoins Have Been Mined Into Existence

80% of the 21 Million Bitcoins Have Been Mined Into Existence

80% of the 21 Million Bitcoins Have Been Mined Into Existence



News

This week cryptocurrency miners had processed the 17 million coins across both Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks, marking a great milestone within the history of blockchain technology. Now there are only 4Mn BCH and BTC left to mine but it’s still a very long time away until the very last coins are mined.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

80.9% of All Bitcoins Have Been Mined  

According to blockchain data, today both BTC and BCH miners mined the 17 millionth coin per network, and there are only 4 million left to mine. Now individuals may say that only 4 million coins is not much of a supply since 17 million were mined in less than ten years, so they might expect the last coins to be mined shortly. However, that’s not the case for both networks as mining difficulty continues to increase on both chains, and every four years the mining block reward is cut in half. Right now both BTC and BCH networks produce 12.5 coins after every block found, and when the halving takes place the reward will only be 6.25 newly minted coins. The BTC chain is expected to halve its mining reward in roughly 763 days or May 29, 2020, depending on the hashrate. If the networks hashrate grows slower or faster the halving date could change.

80% of the 21 Million Bitcoins Have Been Mined Into Existence
Source: Blockchain.info

BTC and BCH Halvings and the Last Coin Found Will Likely Be Different Time Frames

80% of the 21 Million Bitcoins Have Been Mined Into Existence Further, the mining of the last coins won’t be found very quickly because of mining difficulty changes, which makes it harder for miners to find blocks over time. BTC’s ‘Difficulty’ is a metric used to measure the probability of finding the next block, and the BTC network automatically changes difficulty every 2016 blocks. The BCH chain adjusts difficulty every block to make sure previous 144 blocks take exactly one day. The BTC method of difficulty changes and things like the block reward halving every four years or less, will eventually lead to the last BTC being found on or around the year 2140. The BCH chain may have some different halving times, but as things are today the last BCH may be found around the same year. Although there may be some slight discrepancies on halving and the last coin found time frames between both networks.

For instance, the BCH chain had a different difficulty adjustment algorithm (DAA) when the chain first separated. Up until November of 2017, the BCH difficulty was a bit volatile; sometimes processing blocks extremely fast and sometimes super slow. This led to the BCH chain mining a touch more coins than BTC, and it has processed more blocks as well. At the time of publication, the BCH chain is 7568 blocks ahead of the BTC chain, and there are 94,000 more BCH in circulation than BTC. However, since the November bitcoin cash DAA hard fork, metrics have leveled out quite a bit and newly minted BCH are mined roughly at the same rate. Before the fork profitability led to miners bouncing back and forth between chains, but since the DAA change profitability has been consistently level as well. At the moment BCH miners are processing blocks at 13.96% of BTC’s difficulty. Several things could happen in the future where halving and difficulty times could become totally different between both networks.  

80% of the 21 Million Bitcoins Have Been Mined Into Existence

Satoshi’s Vision Has Come a Long Way Giving the World the Genius of Proof-of-Work and Digital Scarcity

Even though it’s going to take more than a century for all of the coins to be found, finding more than 80 percent of them is quite the feat. Over the last six months, both chains have seen a phenomenal increase in hashpower, and if this keeps up it will likely lead to much faster halvings and difficulty changes. Additionally, the 21 million cap created by Satoshi Nakamoto cements the power of digital scarcity, which theoretically will keep demand going strong for ages. The cryptocurrencies are divisible by eight decimals and this means that even though there are not enough ‘whole’ coins to go around for every individual on the planet, people will transact with smaller fractions over time. Unlike quantitative easing and the central banking system bailing out the banks by printing mass quantities of fiat — cryptocurrencies are and will always be scarce. 17 million coins found by a network of incentivized miners is a landmark occasion, and we should all celebrate this feat as it shows how far this technology has come in less than a decade.

What do you think about the fact that 80 percent of all BCH and BTC have been mined so far? Let us know what you think about this subject in the comments below.     


Images via Pixabay, and Shutterstock.


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Ripple Says Sales of XRP Cryptocurrency Rose 83% In Q1

Ripple Says Sales of XRP Cryptocurrency Rose 83% In Q1

San Francisco startup Ripple Inc. is reporting an uptick in sales for a cryptocurrency core to its product suite.

According to a post on the firm’s site, released Wednesday, the company sold $167.7 million worth of XRP in the first three months of 2018, an increase of 83 percent compared to the previous quarter and of 2,400 percent compared to the first quarter of 2017. Ripple has long been closely associated with the open-source XRP Ledger, a technology on which it has built tools aimed at enterprise businesses.

The company further said direct sales of XRP totaled $16.6 million – a decline of 17 percent compared to the previous quarter. Programmatic sales of the cryptocurrency more than doubled, on the other hand, rising from $71.5 million to $151.1 million.

Tom Channick, Ripple’s head of corporate communications, told CoinDesk that XRP sales “exceeded our expectations.”

He added:

“As a company, our strategy remains focused on signing up customers to use our technology and moving those customers into production. If we continue to do that, we will fix how money moves around the world.”

The total volume of XRP traded globally also increased markedly in Q1: volumes grew 68 percent to reach $160 billion for the period.

XRP’s clout relative to the total cryptocurrency market grew in Q1, with its share of overall market volume growing from 5.3 percent at the end of 2017 to 6.9 percent at the end of March.

As for its share of total cryptocurrency market value, the report notes:

“While the total market capitalization of all digital assets was the same on both November 24, 2017 and March 31, 2018, XRP’s share of that market capitalization doubled, rising from 3.56 percent to 7.57 percent – a continuation of a trend that first began in 2017.”

XRP’s price took off in late 2017, rising from less than $0.25 at the beginning of December to a peak of $3.84 in early January. The token’s subsequent fall was just as steep, and within a month, it was trading at just under a dollar. At the time of writing, 1 XRP is worth around $0.82.

Ripple’s first-quarter report also addressed the negative influence that a global regulatory crackdown, combined with uncertainty about the future, has had on cryptocurrency prices. It did not specifically reference Ripple’s own regulatory questions, however, including whether XRP is a security.

Ripple markets XRP and other solutions to banks as a means to increase efficiency and reduce cost in payments, particularly those transacted across borders. The cryptocurrency has attracted a devoted following, but also a fair amount of criticism too, including questions about its degree of centralization and the pace of adoption.

Ripple has issued quarterly XRP reports since Q4 2016, when it sold $4.6 million XRP directly to institutions.

David Schwartz, the startup’s chief cryptographer, explained programmatic sales on Reddit in November, saying:

“This is done by third parties that Ripple employs to use agreed algorithms to execute sales, usually by market making that is biased in favor of a net sale. Ripple does not have direct control over these sales and cannot adjust their timing on a short-term basis.”

Direct sales, by contrast, are conducted by XRP II, LLC, a registered and licensed money service business. The main buyers, the company has stated in the past, are financial institutions.

Ripple placed 55 billion XRP in escrow accounts in December “to create certainty of XRP supply at any given time.” The company released around 300 million of these XRP in Q1, which it says “are being used in a variety of ways to help invest in the XRP ecosystem.”

XRP image via Shutterstock.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Bitcoin Markets Steady for Another Gox Dump, 16,000 Coins Moved by Trustee

Bitcoin Markets Steady for Another Gox Dump, 16,000 Coins Moved by Trustee

Bitcoin Markets Steady for Another Gox Dump, 16,000 Coins Moved by Trustee



News

Last time, analysts blamed Mt. Gox and its bankruptcy trustee for pushing hordes of bitcoin onto an already fragile market, crushing its price. Keen monitors of the notorious insolvent exchange’s wallets showed how 16,000 BTC, along with its equivalent in bitcoin cash, were moved, sparking concern the broader market could once again be impacted.

Also read: Philippines Welcomes Crypto Economic Zone

Market Steadies for Another Possible Mt. Gox Bitcoin Dump

By any metric, 16,000 is a lot. At current bitcoin cash (BCH) prices, that translates to almost $21 million. In bitcoin core (BTC), as of this writing, that’s nearly $141 million. What such amounts flung onto open markets might do is anyone’s guess, but economics isn’t kind to prices of assets when their supply outstrips demand. In other words, they’ll probably lower.

Cryptoground, which was banned from the subreddit /r/mtgoxinsolvency, shows how four Mt. Gox wallets, each with about 2,000 BTC, were zeroed out today. The equivalent in BCH, in four moves, appears to have been shuffled as well, according to block explorers.  

Bitcoin Markets Steady for Another Gox Dump, 16,000 Coins Moved by TrusteePresently, the Mt. Gox crypto exchange’s remaining coins are entrusted to Nobuaki Kobayashi, a lawyer based in Tokyo, Japan. Something like 146K BTC remains under Mr. Kobayashi’s stewardship.

The Mt. Gox fiasco of 2014 represents a steep learning curve in cryptocurrency’s brief history. It’s a fascinating subject, one of putting too much trust in a third party, something cypherpunks warned about long ago. Indeed, the very point of bitcoin was to subvert exactly that. Mt. Gox was hacked, funds stolen, some returned or found, and a price slump took months (some say years) for markets to recover. The exchange was deemed insolvent and formally placed in receivership, and attempts have been made at making creditors whole ever since, dumps included.

Bitcoin Markets Steady for Another Gox Dump, 16,000 Coins Moved by Trustee

Future Sale Looms

Previously, a 24-page report released by Mr. Kobayashi in Spring of this year, detailing how hundreds of millions of dollars worth of BTC and BCH had been sold, roughly 35k and 34k respectively. “As a result of the consultation with the court, I considered it necessary and reasonable to sell a certain amount of BTC and [BCH] at this point and secure a certain amount of money for distribution resources, and thus, I sold the amount of BTC and [BCH above. I made efforts to sell BTC and [BCH] at as high a price as possible in light of the market price of BTC and [BCH] at the timing of sale.” Ominously, he noted, “I plan to consult with the court and determine further sale of BTC and [BCH].”

For enthusiasts and investors alike, past Mt. Gox dumps have resulted, they believe, in price downturns, some dipping by as much as over half, as was the case in February of this year. In the case of over the counter markets (OTC), traders might wish to undershoot, arbitrage, the 16,000 coins by several hundred dollars. The traders then might shift those discounted coins to retail exchanges, taking profits at the expense of the ultimate price.

Bitcoin Markets Steady for Another Gox Dump, 16,000 Coins Moved by Trustee

Some have latched onto the September 18th, 2018 date as the earliest such coins could conceivably be sold, and that was widely reported. As one enthusiast (岩井洋一(柔術新聞 速報版)) responded, however, “Hi, I’m Japanese. Nobuaki has already authorization to sell BTC. Sep 18 is only schedules of Creditors’ meeting. It’s has not any authorization of selling BTC. Nobuaki says he will sell BTC with court permission.” Still others have suggested the recent drop in BTC price after a short bull run might’ve been caused by such coins already having been dumped. 

Do you think the coins will be dumped? Let us know in the comments section below.


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Romania’s Oldest Bitcoin Exchange Is Shutting Down Next Week

Romania’s Oldest Bitcoin Exchange Is Shutting Down Next Week

Romania’s BTCxChange announced it was closing its platform earlier this week.

In a notice dated April 22, the nation’s oldest cryptocurrency exchange told its customers to withdraw all of their remaining funds from the platform, which had already suspended most of its operations – including the ability to trade between cryptocurrencies and fiat currencies like the Romanian leu – earlier this year.

The notice said:

“We inform you that starting from 1st of May 2018, our platform will be closed. Operations stopped back on 1st of February but you still could stock your bitcoins on our platform.”

Earlier this year, the exchange’s chief executive, Max Nicula, said the startup’s bank accounts had been shut down, and it would no longer able able to process fiat trades, Cryptoninjas reported.

This marks the third time the exchange has said that it would close. In September 2016, the company announced it would possibly be sold, and prepared for a closure at the time. At the time, the startup’s owner, Horea Vuscan, said he wanted to retire, and placed the exchange up for sale, as previously reported.

Before then, the exchange asked its users to withdraw all their funds after its team lost access to their servers in September 2014, less than a year after it first opened.

Romanian leu and bitcoin image via Shutterstock

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Bitcoin in Brief Friday: World Satoshi Summit Canceled, Pump and Dump Scheme Exposed

Bitcoin in Brief Friday: World Satoshi Summit Canceled, Pump and Dump Scheme Exposed

Bitcoin in Brief Friday: World Satoshi Summit Canceled, Pump and Dump Scheme Exposed



The Daily

In today’s Bitcoin in Brief we’re covering disappointing news for the crypto community: the World Satoshi Summit in Delhi has been canceled because of “regulatory issues” according to its organizers. Also, an alleged crypto pump and dump scheme has been exposed. There is more than one opinion on the case, as you’ll see below.

Also read: Bitcoin in Brief Thursday: Big Money Wears Big Horns, Claws Are In the Closet

World Satoshi Summit Canceled

A major crypto conference, scheduled to be held in Delhi in May, has been canceled. “Due to certain regulatory issues in India, World Satoshi Summit currently stands cancelled,” reads a message on the event’s website. All refunds will be processed over the next few weeks, the organizers promise. They encourage participants to reach out on [email protected] in case of any further queries.

“I feel very sad to inform you that due to certain regulatory issues in India like crypto ban, our most anticipated event, World Satoshi Summit, stands postponed/cancelled. I deeply regret that we have to make such a harsh decision at the eleventh hour, when we were all set for the conference,” Sanjay Goswami, head of marketing for the summit told the Indian outlet Crypto News.

Bitcoin in Brief Friday: World Satoshi Summit Canceled, Pump and Dump Scheme Exposed

Indian crypto media have asked the organizers to provide more details and clarity on the reasons for the cancelation. In recent months, the cryptocurrency and blockchain community in the country has been targeted by both regulators and banks. While authorities are working on a new bill to regulate the crypto sector, the Reserve Bank of India has prohibited commercial banks from servicing businesses dealing in cryptocurrencies. Bitcoin trade on local exchanges has dropped as much as 90% in a couple of months.

Pump and Dump Scheme – Exposed?

An alleged crypto pump and dump scheme has been reportedly exposed in a Steemit post. The accusations have been made against the Discord chat group Bitcoin Bravado by a supposed member. The publication contains screenshots of Telegram messages between members of the group. The author claims they indicate a plan for a pump and dump operation on a token called Haven Coin through price manipulation.

The whistleblower says he was invited to join the group’s Telegram channel where he saw the messages. According to the screenshots, members of the group discussed how much cryptocurrency would be needed to control 25% of the trading volume, how long it should be held, and when it should be dumped. The blogger, named “cryptomedication”, has contacted the U.S. Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI) regarding the suspicious conversations. “I’m not here to hide at all”, he says providing his twitter account, as well – @CryptoMedicated.

Bitcoin in Brief Friday: World Satoshi Summit Canceled, Pump and Dump Scheme Exposed

In an open letter, Bitcoin Bravado called the publication a “slender article”. It also said that none of the people involved in the conversations from the screenshots write for or have equity in the company. “It’s important for everyone to understand our company’s structure.​ Though a few of the members shown in those telegram chats have been friends​ and supporters​ to Bitcoin Bravado, they write none of the content ​and have no ownership or equity ​in the company. They have their own business, we have ours. They’re almost completely inactive in the day to day operations and have been removed from our Discord channel,” the statement reads.

First Ad in the Blockchain

TD Ameritrade claims to have become the first company to embed an advertisement in the blockchain. The ad of the brokerage firm is made up of ASCII art. It can be viewed on a landing page, which also links to information about each bitcoin transaction and how the ad was built. The advertising agency Havas New York also participated in the project.

Bitcoin in Brief Friday: World Satoshi Summit Canceled, Pump and Dump Scheme ExposedThe two companies placed the ad in a function of the blockchain called OP_Return, which works like the memo space on a check, Digital News Daily reports. Simple messages and characters can be placed within transactions on the blockchain and the authors decided to create the image by linking 68 individual transactions with 80 characters each.

According to Denise Karkos, Chief Marketing Officer at TD Ameritrade, there is “no expectation beyond creating a little buzz for the brand” and enjoying the process. “Wouldn’t it be fun to be the first to advertise in the blockchain,” she said, noting that her company was also the first brokerage to provide access to bitcoin futures.

Parity Has No Intention to Split the Ethereum Chain

Parity Technologies has reaffirmed its “commitment to ethereum and a decentralized future”. In a blog post, the company said: “We are deeply sorry to those users who remain unable to access their ether as a result of a bug in our code.” The startup has been in constant conversation with affected projects. It also believes that those who have stuck ether through the wallet freeze have a case for attempting to recover the property.

Bitcoin in Brief Friday: World Satoshi Summit Canceled, Pump and Dump Scheme ExposedIn December, the team behind Parity asked for a hard fork of ethereum to overcome the consequences of the bug, which allowed an ethereum hobbyist to break their multi-signature wallet. As a result, an amount of more than half a million ether was permanently locked and the multi-sig functionality was temporarily disabled.

The company acknowledges that the debate around the recovery has “clearly shown the importance of a transparent governance process” that can respond to the community’s position on contentious issues such as ASIC resistance, supply caps, and contract restorations. “Let us make clear: we have no intention to split the Ethereum chain […] We have all dedicated a great deal of time and effort to developing the ethereum ecosystem, and have no intention of harming what we have helped build,” its team stated. Its members insist they remain committed to making the etherium platform “open, scalable, and safe”.

What are your thoughts on the subjects we’ve covered in today’s Bitcoin in Brief? Share them in the comments section below.


Images courtesy of Shutterstock, World Satoshi Summit, TD Ameritrade, Parity Technologies.


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Crypto Mining Made Up 10% of AMD’s Revenue in Q1

Crypto Mining Made Up 10% of AMD’s Revenue in Q1

Cryptocurrency mining demand accounted for as much as 10% of AMD’s first-quarter revenue this year, according to the chip maker.

“The strength in Radeon products was driven by both gaming and blockchain demand. We believe blockchain was approximately 10% of AMD revenue in [the first quarter of] 2018,” chief financial officer said Devinder Kumar during an earnings call on Wednesday after AMD revealed that it made $1.65 billion in first-quarter revenue, a 40% increase year-over-year.

Kumar noted that the combined gaming and blockchain demand contributed to a 95% boost year-over-year for its GPU and computing markets. That said, Kumar indicated that the company believes that it will see a “modest decline in graphics [revenue] due to blockchain.”

All in all, AMD anticipates less than 10% of its 2018 revenue will come from cryptocurrency miners.

“Based on the strength of our business momentum, for the full year 2018, we now expect revenue to increase by mid-20s[%] over 2017, driven by the ramp of our new products. Blockchain revenue to be mid to high-single-digit percentage of revenue for 2018,” he said during the call.

Looking past the figures, however, CEO Lisa Su struck a somewhat optimistic tone for AMD’s prospects in the blockchain infrastructure sector.

She remarked:

“I do think the blockchain infrastructure is here to stay. I think there are numerous currencies. There are numerous applications that are using the blockchain technology. We don’t see a significant risk of secondhand GPUs coming into the market. I think what you find is that, one, there are number of different currencies, and, two, a lot of these users that are buying GPUs these days are actually buying them for multiple use cases, both commercial and consumer.”

“They’re not necessarily buying just for mining,” Su continued. “I think, most people are comparing sort of this blockchain time period to the last one which was a couple of years ago and I think there are a couple of important differences. I think the first one is that there are multiple currencies and multiple applications that are being used. And what we’ve seen is that people who are mining do go from one currency to another depending on what’s happening.”

The only unknown factor at play involves retail sales, as Su said it was “hard to tell” whether retail sales go toward gamers or miners. But even there, AMD believes it has a close approximation of the demand.

“I think the breadth of the blockchain applications and also the breadth of the customer base give us that belief,” she later concluded.

Cryptocurrency mining screen image via Shutterstock

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ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market Sentiment

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market Sentiment

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market Sentiment



Altcoins

A number of significant events have occurred pertaining to the Ethereum ecosystem in recent days. Last week, the code for the proposed first step of Ethereum’s technical transition toward the adoption of proof-of-stake mining, Vitalik Buterin made disparaging comments regarding 2017’s explosion in the initial coin offering (ICO) industry in an interview with Financial Times, and most recently, an Ethereum Improvement Proposal (EIP) seeking to restore a disabled contract to unfreeze 513,774 ETH held in 587 wallets used by Parity Wallet has been rejected.

Also Read: New Party in Ukraine to Fund Itself Only with Cryptos

Code for First Step in Casper Transition Unveiled

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market SentimentEthereum developers recently announced that code expected to comprise the networks first step towards the adoption of a proof-of-stake (PoS) mining model has been available for public review.

The proposed code, described in EIP 1011, states “This EIP specifies a hybrid PoW/PoS consensus model for Ethereum main net. Existing PoW mechanics are used for new block creation, and a novel PoS mechanism called Casper the Friendly Finality Gadget (Casper FFG) is layered on top using a smart contract.”

The transition from Pow to Pos has long been a pervasive issue within the Ethereum community, with discussions of such having been present “on the roadmap and in the Yellow Paper since the launch of the protocol.” How to conduct the transition, the EIP asserts, was “an open area of research” until the first paper detailing Casper FFG was published by Vitalik Buterin and Virgil Griffith in October 2017.

Casper FFG aims to reduce the energy consumed through mining ETH and provide resistance to ASICs. The EIP’s authors assert that “The Casper FFG contract can be layered on top of any block proposal mechanism, providing finality to the underlying chain,” adding that “the FFG staking mechanism requires minimal changes to the protocol.”

Proposal to Unfreeze Over $300 Million USD Worth of ETH Rejected

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market SentimentEIP 999, a proposal to implement a patch unfreeze 513,774.16 ETH held in 587 wallets related to the Parity debacle, has been rejected after a vote among the affected wallet owners. The EIP proposed “restoring the WalletLibrary by a patched version to allow the owners of the dependent multi-signature wallets regain access to their assets.” At current prices, said frozen ETH would be valued at over $325.7 million USD.

The vote saw 330 ‘no’ votes cast, a ten percent victory over the 300 ‘yes’ votes that were submitted. Nine “don’t care” votes were also cast.

Vitalik Buterin Slams ‘Get-Rich-Quick’ Sentiment in Crypto Markets

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market SentimentIn a recent interview with Financial Times, Ethereum’s co-founder, Vitalik Buterin, lamented the transition of the cryptocurrency sphere from hosting a rebellious and clandestine cypherpunk culture, to that which is dominated by greed and the desire to get rich quick.

Of many cryptocurrencies that were baptized in the 2017 crypto bubble, Mr. Buterin states that “There’s projects that never had a soul, that are just like, ra-ra, price go up. Lambo[rghini], vrromm, buybuybuy now!” Vitalik states that “We’ve created a culture where some totally random project raising something like $8m is like, oh yeah that’s peanuts,” describing such as evidence that the cryptocurrency markets are in a “bubble.”

Mr. Buterin also argues that the market capitalization and prices witness by many projects are “far ahead of what this space has actually accomplished for the world.”

Do you agree with Vitalik’s comments? What are your thoughts on EIPs 999 and 1011? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


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More Than $140 Million in Bitcoin Moved from Mt Gox Wallets

More Than $140 Million in Bitcoin Moved from Mt Gox Wallets

16,000 bitcoins (an amount worth about $141 million) tied to the now-defunct bitcoin exchange Mt Gox were moved on Thursday.

According to CryptoGround, which monitors Mt Gox’s remaining wallets, the bitcoins were removed from four separate addresses in increments of approximately 2,000, with 0 BTC remaining in each wallet that the funds were extracted from.

The wallets are under control of the exchange’s bankruptcy trustee, Nobuaki Kobayashi, a Tokyo lawyer who also revealed in March that he had sold about $400 million of Mt Gox bitcoin and bitcoin cash in September of 2017. At present, the Gox addresses still hold roughly 146,106 BTC, blockchain data shows.

Additional network data indicates that trustee holdings of bitcoin cash are on the move, with 16,000 BCH being sent over the course of four transactions.

Kobayashi is tasked with liquidating the tokens on behalf of Mt Gox creditors, most of whom have not recovered their funds after the exchange closed its trading operations in 2014. Yet the process hasn’t been without controversy, given that the value of the bitcoins held by Mt Gox exceeds the amount claimed by the exchange’s creditors.

Founded in 2010, the exchange boasted around 80 percent of global trading volume at its height. Since Mt Gox’s closure, the exchange and its founder, Mark Karpeles, have been embroiled in legal battles, including class action lawsuits and embezzlement charges.

As CoinDesk previously reported, past sell-offs from the wallets have coincided with steep declines across the cryptocurrency market. Notably, a transfer of funds on February 5 was concurrent with a 50 percent decline in market value from January’s all-time market capitalization high of $830 billion.

Miniature people with bitcoins image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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PR: Crypto Exchange Changelly partners with Binance

PR: Crypto Exchange Changelly partners with Binance

Crypto Exchange Changelly partners with Binance

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Changelly, a popular instant cryptocurrency exchange, has partnered with Binance, TOP-1 trading platform, to bring more tokens, faster transactions and better rates to users.

Konstantin Gladych, CEO of Changelly met Changpeng Zhao, CEO of Binance in Valletta, Malta – on the island recently becoming the new crypto harbor. During the meeting they discussed fundamental industry issues, government regulations and concluded a strategically important partnership.

Changpeng Zhao, aka CZ, CEO of Binance has commented:
“After meeting Konstantin in person to finalize our partnership, I am confident that Changelly has a professional team with great experience and even bigger potential. We believe that together we will provide users all over the world with a top-class level of service.”

Changelly acts as a broker between Binance and users, allowing to exchange cryptocurrency in a simple way avoiding complicated interfaces and processes on the professional trading platforms. Changelly’s integrated algorithm picks up the cryptocurrency rates from Binance and offers them to users in real time.

Changelly provides instant exchange API for partners such as Jaxx, Coinmarketcap, Breadwallet, Coinomi, Mycelium, Coinpayments, and other prominent companies. It enables their users to exchange cryptocurrency without using external exchanges. Changelly acts as a mediator between Binance and partners, bringing new exchange options and sharing profit.

Binance, in turn, opens up an opportunity for Changelly to add more prospective and popular trading pairs. It is the top exchange when it comes to the quality of coins and tokens listed: you can trade almost 120 of them. Due to this fact, all the cryptocurrencies supported by Binance can be easily listed on Changelly and become available for trading for user and partners.

Comparing to other trading platforms, Binance processes transactions in the fastest manner possible and provides more profitable rates. The high-performing matching engine of Binance is capable to process up to 1 400 000 orders per second, making Binance one of the fastest exchanges on the market. This means sped up transactions for all Changelly users.

Konstantin Gladych, CEO at Changelly has commented:
“This partnership is a huge honor for Changelly: I am sure that it will help us provide even higher-quality service to our users around the world and increase our presence on the crypto market. The top exchange trusts us to have business with – this gives us confidence in what we do, and also responsibility to ensure five-star user experience. We are up for the challenge!”

About Changelly
Changelly is a popular instant cryptocurrency exchange with 100+ coins and tokens listed. The service processes around 15K transactions daily. Operating since 2015, Changelly has attracted over 2M registered customers from around the world. Changelly offers its API and a customizable payment widget for any crypto service that wishes to implement exchange options. Key partners are Jaxx, Coinmarketcap, Bittrex, Coinomi, Breadwallet and others.

About Binance
Binance Exchange is the TOP-1 trading platform in the world that performs the fastest transaction processing on the market. The platform is founded by a team of fintech and crypto experts and focuses on security, robustness, and execution speed as well as offering multi-tier and multi-cluster system architecture which ensures high safety stability attracting enthusiasts and professional traders alike.

Contact Email Address
[email protected]
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OmiseGo Hits Two-Month High Amid Exchange Listings

OmiseGo Hits Two-Month High Amid Exchange Listings

OmiseGo’s OMG token is reporting double-digit gains today, figures that throw shade on the rest of the top 25 cryptocurrencies by market valuation.

Having clocked a two-month high of $20.67 earlier today, OMG is now changing hands at $18.20 on Bitfinex – up 15 percent in the last 24 hours. Meanwhile, OMG’s BTC-denominated exchange rate jumped to a seven-month high (highest since Sept. 30) of 0.0023466BTC.

The price rise may be associated with the OMG’s listing today on Bithumb, one of the biggest cryptocurrency exchanges in South Korea. The token was alo listed on Zebpay, one of India’s largest cryptocurrency exchanges, yesterday.

According to the chart analysis, though, the outlook will remain bullish as long as prices hold above $14.40.

Daily chart

The bullish triangle breakout indicates long-term bearish-to-bullish trend change and has opened the doors for a retest of the record high of $28.50.

It’s worth noting that the bullish breakout is matched by a 415 percent spike in 24-hour trading volume. So, the rally looks sustainable. Further, the momentum studies are biased to the bulls too, with both the 5-day moving average (MA) and the 10-day MA trending north.

View

OMG will likely take out the immediate resistance at $20.83 (Feb. 28 high) in a convincing manner and could rise to $28.50 (record high) in the near-term.

Only a daily close (as per UTC) below $14.40 (April 21 low) would signal bullish invalidation. Meanwhile, a drop below $12 would signal a bullish-to-bearish trend change.

UPDATE: This article has been updated to remove a link to a fraudulent website that was misrepresenting OmiseGo in an effort scam users. CoinDesk regrets the error.

Falling balls image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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