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Bitcoin (BTC) may have recovered to $11,700 but miners could soon spark a price plunge, data warns.
In an update on Aug. 14, on-chain monitoring resource CryptoQuant identified a spike in mining pool outflows.
Malaysian police arrested four cryptocurrency mining operators after discovering that they were stealing electricity from the state-owned power firm, Sarawak Energy Berhad, or SEB.
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The Chinese state does not present a long-term threat to Bitcoin, a well-known developer wrote in a blog this week.
China is not a threat to Bitcoin
Jameson Lopp, founder of Casa Wallet and a Bitcoin contributor, said Chinese miners do not pose a threat to Bitcoin.
Reward halvings are a common element of many different forms of cryptocurrency, known to typically impact a coin’s supply, difficulty and price.
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Grin (GRIN), a major privacy-focused cryptocurrency, is apparently no longer resistant to mining with Application-Specific Integrated Circuits — or ASICs — according to a former core developer.
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Protests have erupted in Belarus following the country’s presidential election on Sunday, but the possible continued presidency of Alexander Lukashenko may be good news for crypto.
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Bitcoin (BTC) mining activity doesn’t seem to be reacting to the recent price rally that took the asset from approximately $9,000 in early July to almost $12,000 at time of publication.
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To a newcomer, crypto mining may sound deceptively easy — essentially, a way to switch on a machine, walk away and watch the lucrative crypto rewards roll in. But the reality is a little more complicated.
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Although over two months have passed since the halving happened on the Bitcoin network, the crypto mining industry is still heaving from the frantic pace of events that have followed suit.
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China’s dominance in Bitcoin mining may not last as more mining chips are produced and other countries offer cheap power sources, said cypherpunk Jameson Lopp in a blog post.
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