Chinese Bitcoin Miners Suffer in Iran Despite Cheap Power

This article was originally published by 8btc and written by Lylian Teng.Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process.With the rapid downfall of bitcoin prices in late 2018 and increasing electricity bills, Chinese mining investors are looking for alternative places to ...

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Understanding Bitcoin, the Demos: How to Become a Bitcoin Power User

The Understanding Bitcoin conference held in Malta from April 5 to April 7, 2019, was all about turning regular Bitcoin users into power users.Bitcoin hardware and software is often more configurable than people realize (or they do realize this but are unable to take advantage of it). Spread throughout the conference were 18 demos by leading Bitcoin developers and experts ...

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Bitstamp Receives New York BitLicense

Another digital asset platform has received approval to do business in New York.Bitstamp, one of the largest crypto exchange platforms in Europe, has been granted a virtual currency license from the New York State Department of Financial Services (NYSDFS). The exchange became the 19th firm approved to offer crypto-based services in the world's financial center.The regulator announced in a press ...

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Bitfinex Scraps Its $10,000 Minimum Balance Rule

Bitfinex is now open to every trader as the Hong Kong-based cryptocurrency exchange has removed its $10,000 minimum balance rule.Citing a rising demand from retail traders who couldn't trade on the platform due to the requirement, Bitfinex CEO Jean-Louis van der Velde said the platform is now ready for a “new wave of customer accounts,” according to a company Medium ...

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Electrum Servers Remain Under Sustained DoS Attack

Electrum servers are still under a sustained Denial-of-Service (DoS) attack. The wallet developers announced the issue on April 7, 2018.In correspondence with Bitcoin Magazine, Electrum developer Thomas Voegtlin speculated that the attack may be a form of retaliation from a phishing attacker who has been targeting Electrum in recent weeks. Since his phishing attacks had been thwarted, the attacker could ...

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QuadrigaCX Starts Bankruptcy Proceedings

It’s been a long and winding road with many twists and turns for the beleaguered cryptocurrency exchange QuadrigaCX and its 115,000 former users who are owed roughly $190 million.On April 8, 2019, the case reached a critical fork in the road as a court, recognizing that attempts to restructure the exchange have failed, appointed business services firm Ernst & Young ...

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Bitcoin Price Analysis: Upward Consolidation Hints Toward Diminishing Market Supply

Summary:The bitcoin market has seen sustained buying pressure as the daily candles have continuously closed new highs following the impulsive move that brought us to the $5,000 levels.From an intraday perspective, we have established new support on three separate levels that were previously resistance as the market progresses along its supply and demand channel.Macro-wise, we are still sitting in a ...

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Western Union Partners With Crypto Wallet for Cross-Border Transfers

Crypto wallet provider Coins.ph has partnered with U.S. financial service company Western Union to enhance cross-border transfers to the Philippines.The partnership will grant over 5 million Coins.ph users access to both local and international payments transferred into their digital asset wallets.According to Coins.ph, the decision to partner with Western Union was based on its desire to ensure that people can ...

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China’s Proposed Mining Ban Could Be Detrimental to Bitmain

China’s state planning agency, the National Development and Reform Commission (NDRC), has indicated an interest in banning cryptocurrency mining in the country through a notice published online in Mandarin.The report stated that the NDRC will include cryptocurrency mining activities to a list of sectors that could be shut down based on their violation of local regulations, wastefulness, safety concerns or ...

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