Tag Archives: China

A power plant in upstate New York known as Greenidge Generation says it’s mining up to $50,000 in new bitcoins each day.Greenidge Has the PowerThe average number of new coins extracted through the plant – which has been using its own energy reserves to get the job done – has been 5.5. Greenidge Generation says it’s looking to potentially put the U.S. on the map as a serious crypto competitor to China, which at the time of writing, controls much of the world’s bitcoin mining power.The company...

A group of angry victims of insolvent Chinese cryptocurrency exchange, FCoin, has reportedly gone after the family members of CEO Zhang Jian to get refunds for their missing funds, according to local reports. FCoin Users Not ImpressedSome of the affected users had formed several Rights activist groups since the CEO first announced that they are unable to repay users approximately 13,000 BTC, which are equivalent to $118 million at the time of writing and $130 million when the exchange became...

Bitcoin’s hash rate just hit another new all-time high of 136 EH/s, an indication that miners are not backing out despite the recent selling pressure which led to a slump in the price of BTC last week.Miners Are Bullish On BitcoinData on Blockchain.com suggests that Bitcoin’s hash rate has been increasing steadily since the start of 2019. And now the network is processing as much as 136 quintillion hashes per second, which is about 25 quintillion increase since the last ATH in December last...

Bitcoin lost a serious chunk of its Dollar value this week. Down about 12% over the past seven days, the cryptocurrency is currently trading at around $8,700. It’s essential to see where it goes from here. From above, there’s the 200-days moving average at $8,800, which has now turned to resistance. Bitcoin hasn’t closed a day below the 200MA since January 27th this year, and it’s entirely possible for today to be the first day. This would probably spell trouble for the bulls.All of this...

China has delayed its research on launching a government-backed Digital Currency Electronic Payment (DCEP), in Q1 2020, as the country continues to battle the increased coronavirus outbreak. This does not mean that China will not launch the sovereign digital currency this year, Global Times reported Tuesday.  China to Launch a Cryptocurrency in 2020Before efforts were shifted to the Coronavirus, the People’s Bank of China (PBoC) and other relevant bodies involved in the project, were...

Layer1 Technologies – a bitcoin mining startup operating in West Texas – has opened its doors for business.Layer1: We Want to Compete with ChinaThe company has specifically mentioned that it’s looking to counter bitcoin and crypto mining activity in China, which up until this point, has long been considered the world’s number one bitcoin and digital currency haven. At the time of writing, Layer1 has unveiled several 2.5-megawatt containers and is extracting several new coins.The history of...

“All the Banks Are Broke,” and they’ve only got worse. Quantitative easing forever? The threat of cryptocurrencies will disrupt the financial sector.  A video from 2013 depicting a European minister’s tirade against the global banking system has recently re-emerged and gone viral. Gaining massive traction within the crypto community, the speech is now more relevant than ever — and central banks know it. “All the Banks Are Broke” Within an impassioned speech, British politician and former...

Hey Krypto Fans, willkommen zur Bitcoin-Informant Show Nr. 815. Heute sprechen wir über folgende Themen: Ethereum und DeFi in Gefahr – Hacker räumen Lending Pool leer, Binance Cloud Crypto Exchange White Label & China stellt Bargeld unter Quarantäne. 1.) Ethereum und DeFi in Gefahr – Hacker räumen Lending Pool leerhttps://cryptomonday.de/ethereum-und-defi-in-gefahr-hacker-raeumen-lending-pool-leer/ 2.) Binance Cloud to Allow Users to Launch a Crypto Exchange Within 5...

Is there a correlation between bitcoins price action and the coronavirus spread?  Virus-infected yuan placed in quarantine—Bitcoin fixes this.  Bitcoin mining takes a dive following China’s coronavirus clampdown. As coronavirus continues to spread mass panic around the globe, its impact on bitcoin is becoming more evident. Here are three critical repercussions for BTC amid the outbreak. As the Coronavirus Spreads, Bitcoin Continues to Break Out Bitcoin is proving its...

The spread of the coronavirus continues, and more countries appear to take serious measures for its containment.  Amid the tragic effect on people’s health, the cryptocurrency space recently saw the birth of the CoronaCoin – a coronavirus-backed token.The Creation of CoronaCoinEarlier today, the discussion of the new coronavirus-backed coin was published in a Reddit post. It informs that CoronaCoin (NCOV) will be an ERC-20 token.Its primary purpose, according to the website, is to spread...