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What would happen if bitcoin were to suffer a 51% attack? It’s a hypothetical question, but one that has troubled some of the community’s brightest minds. Just as army generals play out countless war games, enacting doomsday scenarios, bitcoin defenders like to ponder ways in which the decentralized cryptocurrency could be attacked and brought to […]
The post A 51% Attack on Bitcoin Means Mutually Assured Destruction appeared first on Bitcoin News.
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This week cryptocurrency miners had processed the 17 million coins across both Bitcoin (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. […]
The post 80% of the 21 Million Bitcoins Have Been Mined Into Existence appeared first on Bitcoin News.
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Typically when people think of bitcoin mining operations they look to countries like Iceland and mainland China. However, most people do not know that the small country of Georgia, a region of Eurasia, is ranked the second most profitable area in the world for cryptocurrency mining just below China. Also read: Russian Regulators Draft Law to […]
The post Georgia Has Become Eurasia’s Cryptocurrency Mining Epicenter appeared first on Bitcoin News.
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Even though the first three months of 2018 were not positive for all cryptocurrencies, it seems some things will never change. Over the past few months, the Bitcoin and Bitcoin Cash hash rates have remained virtually unchanged. Although there have been some temporary dips, the overall uptrend is still firmly intact. Bitcoin Hash rate Remains Unchanged Anyone with a keen interest in cryptocurrency knows that Bitcoin miners need a certain value per BTC to break even, let alone make a profit. If this value drops below that threshold, mining the world’s leading cryptocurrency quickly becomes unprofitable for most smaller mining operations. The exact figurePowered by WPeMatico
Despite the multitude of headlines declaring that bitcoin mining was becoming unprofitable over the last four months, the hashrate between both Bitcoin Core (BTC) and Bitcoin Cash (BCH) networks has exploded. At the moment both SHA-256 proof-of-work (POW) powered protocols have been maintaining more than 35 exahash per second, becoming one of the most powerful […]
The post Bitcoin Miners Unaffected by Price Decline — Hashrates Spiked Exponentially appeared first on Bitcoin News.
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Verge, a ”privacy coin” famed for the zealotry of its community, has fallen prey to a 51% attack. A malevolent miner gained majority control of the network hashrate, a feat that makes it possible for the controlling entity to modify transactions, calling the integrity of the entire blockchain into question. Around 250,000 verge were stolen […]
The post Verge Is Forced to Fork After Suffering a 51% Attack appeared first on Bitcoin News.
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It’s coming close to a decade since the creation of the bitcoin network and the cryptocurrency ecosystem. The protocol has produced a great deal of users, infrastructure, businesses and influential parties like developers and miners. Since the beginning of bitcoin’s mining history, individuals mined lots of coins with central processing units (aka home computers). Later, […]
The post Our Love and Hate Relationship with Bitcoin Miners appeared first on Bitcoin News.
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This week bitcoin cash (BCH) prices touched a low of $850 per coin, after following suit with the majority of other digital assets taking losses over the past five days. The price started to reverse yesterday evening and has climbed 11 percent in value touching $992 during the March 19 afternoon trading sessions (EDT). Also […]
The post BCH Markets & Infrastructure Roundup: Optimism in the Air appeared first on Bitcoin News.
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Back in the spring of 2017, the discussion of a technology called ‘ASIC Boost’ was a very hot debate amongst bitcoin proponents. Bitcoin core (BTC) supporters were extremely upset with the firm Bitmain Technologies and its owner Jihan Wu for allegedly using ASIC Boost covertly, even though the company denied it. Now according to reports […]
The post From ‘Attack’ to ‘Optimization’ — Slush Pool Reveals ASIC Boost Compatibility appeared first on Bitcoin News.
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This week the owner of the web portal Bitcoin.org and Bitcointalk, a pseudonym called Cobra wrote an open letter to the bitcoin community asking them to think about changing the Bitcoin core network’s Proof-of-Work algorithm. Also read: Ross Ulbricht Denied Post-Conviction Relief Extension Bitcoin.org Owner ‘Cobra’ Says Bitcoin Mining Is Controlled By One Man and His […]
The post Bitcoin.org Owner Asks the Community to Change Bitcoin’s Central PoW Algorithm appeared first on Bitcoin News.
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