Bitmain’s Mining Pool BTC.com is Launching a PoS Ethereum Mining Operation News

Bitmain’s Mining Pool BTC.com is Launching a PoS Ethereum Mining Operation

BTC.com, the world’s largest Bitcoin mining pool is now expanding its mining offerings that enables their miners to mine the Ethereum (ETH) and Ethereum Classic (ETC) blockchain. According to an official statement from BTC.com, the new Ethereum miners will be able to assess to the ETH mining through pool.btc.com portal. BTC.com will also offer an Ethereum blocker explorer and API. As thus, miners will be able to switch their hashing power from one mining pool to another, according to BitcoinsChannel. BTC.com is a subsidiary of the dominate cryptocurrency mining hardware giant Bitmain. It currently accounts for roughly 17 percent of...
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Things to Know about Crypto Mining in China News

Things to Know about Crypto Mining in China

China, a world leader in bitcoin mining, is home to the three largest crypto miner manufacturers – Bitmain (Antminer), Canaan (Avalon) and Ebang (Ebit), all having seek to go public in Hong Kong this year. Many more competent new players like Innosilicon, Whatsminer (ShenMa), Pandaminer, Bitfily, are springing up with some of their latest products delivering over 30T hashrate. Apart from miner manufacturers, the world’s largest crypto mining machine distribution center – Huaqiang North, is also based in the country. While shop owners there said a second-hand Antminer S9 is recently sold at 1,000 Chinese yuan (US$146), dropping from 21,000 yuan ($3070) when...
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Hong Kong SFC was Criticized for the Unclear Cryptocurrency Regulation News

Hong Kong SFC was Criticized for the Unclear Cryptocurrency Regulation

Hong Kong regulatory authorities emphasize that the virtual currency will be regulated as virtual “products” and remind local banks to pay attention to money laundering and terrorist financing in crypto-related financial activities. Of late, the Securities and Futures Commission (SFC) has also halted an ICO (initial coin offering) activity as it may constitute a “collective investment scheme”. However, according to orientaldaily, people from all walks of life are not satisfied with the financial authorities on their work on cryptocurrency regulation. The information technology community admits that the authorities need to make their attitude towards virtual currency regulation much clear. Francis Fong, the honorary...
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More Hackers Attack Korea’s Crypto Exchanges, How Gov’t is Stopping it News

More Hackers Attack Korea’s Crypto Exchanges, How Gov’t is Stopping it

According to Jon Clay, prominent security expert and the director of global threat communications at Trend Micro, a rapidly growing number of hackers are targeting major crypto exchanges in South Korea. Throughout the past nine months, the cryptocurrency exchange market of South Korea has experienced more security breaches than all of the major markets including Japan and the US combined. Bithumb, the country’s second largest crypto trading platform, was hacked twice in under a year, alongside Coinrail and Youbit. Government’s Solution In a recent interview with ZDNet Korea, Clay stated that hackers are flocking to the cryptocurrency market of South...
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World’s Sixth Largest Mining Pool Tells When to Shut Down Your Bitcoin Miners News

World’s Sixth Largest Mining Pool Tells When to Shut Down Your Bitcoin Miners

Shenyu, co-founder of F2Pool, world’s sixth largest crypto mining pool based in China, posted a Weibo unveiling the critical crypto prices below which miners have to be shut down for lack of profitability. The price of bitcoin, the dominant cryptocurrency, has struggled throughout 2018, declining by almost 70 per cent since the start of the year. Over the past two days, a widespread bearish correction in the crypto market was seen. Bitcoin, Ether, Litecoin and other cryptos all declined on substantial volume, with BTC below $6,600 again and ETH below $250. Bitcoin mining is the upstream industry of bitcoin. Each time...
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Korea to Remove Tax and Investment Perks From Crypto Exchanges, Heavy Criticism News

Korea to Remove Tax and Investment Perks From Crypto Exchanges, Heavy Criticism

South Korea’s venture enterprise division has decided to remove crypto exchanges from the newly drafted venture acceleration bill. Local publications have reported that the venture enterprise division is swiftly pursuing the process of eliminating digital asset trading platforms from its proposal that provides various tax and investment benefits to small to medium-sized firms. On September 4, the government released a legislative notice and this week, obtained the approval from the regulatory reform commission. If the government does not reverse its decision to include cryptocurrency exchanges in the bill, experts believe that the rapid growth rate of the local cryptocurrency and...
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Why Now? Bitmain’s Antpool Activates The Controversial AsicBoost To Increase Mining Efficiency By 20% News

Why Now? Bitmain’s Antpool Activates The Controversial AsicBoost To Increase Mining Efficiency By 20%

Antpool, the cryptocurrency mining pool controlled by Bitmain, has reportedly activated the controversial mining technique known as AsicBoost to increase its mining efficiency by up to 20%. According to AsicBoost Block Explorer, the block #540032 was mined by Antpool using the AsicBoost which intends to exploit a flaw in Bitcoin’s Proof of Work algorithm to accelerate mining operation. Actually, the tracking website identified roughly 4% of blocks were mined utilizing the technology during the last week. AsicBoost is best described as a “mathematical trick” which will narrow down miners’ choices of potential hashes. By reducing the amount of the computation required to...
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Japan Gov’t Issued Warnings to Zaif Prior to $60m Crypto Hack, Official Investigation News

Japan Gov’t Issued Warnings to Zaif Prior to $60m Crypto Hack, Official Investigation

According to local publications, the Japanese government and its main financial watchdog Financial Services Agency (FSA) has launched an official investigation into Zaif, a major local crypto exchange which experienced a $60 million hack earlier this month. The FSA reportedly issued two business improvement orders to Zaif in 2018 after several audits discovered serious issues pertaining to possible system failures and fraudulent withdrawals. But, the FSA stated that the company did not implement necessary fixes to improve its infrastructure and security protocols. Ultimately, the failure of Zaif to comply with the business improvement orders issued by FSA led the exchange...
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The SEC Shuts Down 1Broker Crypto Exchange, will Binance or BitMEX be the Next? News

The SEC Shuts Down 1Broker Crypto Exchange, will Binance or BitMEX be the Next?

Yesterday, three U.S. agencies, including the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Federal Bureau of Investigation (FBI) have taken actions to crackdown on cryptocurrecny exchange 1Broker. According to an announcement launched by the SEC, the Marshall Islands-based securities dealer 1Broker has involved in a bitcoin-based security swap scheme which violates the federal law, they decided to shut down the exchange. The U.S. Securities and Exchange Commission (SEC) seal is displayed outside headquarters in Washington, D.C., U.S., on Wednesday, Oct. 26, 2011. The SEC approved a rule requiring hedge funds and private-equity funds to reveal...
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Bitcoin Mining Newcomers This Year Face Large Loss News

Bitcoin Mining Newcomers This Year Face Large Loss

Bitcoin mining difficulty has increased over 3.5 fold this year, climbing from 1.93T at the start of the year to 7.02T. The monthly increment was at the rate of 15 per cent on average. That means, the hashing power contributed by miners who joined the digital gold rush freshly this year accounted for roughly 75 per cent ((7.02-1.93)/7.02) of the entire bitcoin network. Did these new miners earn the coveted money given that the value of bitcoin has decreased by almost 70% since the start of the year? According to the calculations based on the electricity price at 0.4 yuan...
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