Monthly Archives

April 2020

Roger Ver: ‘End Lockdown, It’s a Matter of Economic Freedom’

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Speaking at Virtual Blockchain Week, Bitcoin.com chairman Roger Ver (also known as “Bitcoin Jesus”) has called for an immediate end to the enforced coronavirus lockdown on the grounds that it violates economic and personal freedom. “I think the lockdown needs to come to an end, right now, today,” he said. “If you want to lock yourself down, more power to you, feel free, have at it. But for the rest of us that want to live our lives, we should be able to do that too.” Ver joins another high-profile tech figure, Tesla’s Elon Musk, in calling for an end

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BTC Annual Inflation Rate Almost 50% of World Average After Halving

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Once the Bitcoin rewards halving goes through on May 12, the annual inflation rate of the cryptocurrency will be about half of the global average. As crypto analyst Mati Greenspan noted on Twitter on April 26, the annual inflation of Bitcoin (BTC) will fall from 3.65% at the time of press to 1.8% once the halving happens in 15 days. The global annual inflation rate for 2019 was 3.41%, and is approximately 3.56% so far for 2020. Mati Greenspan (tweets are not trading advice)@MatiGreenspan In just 15 days, the annual inflation of #bitcoin will go from 3.65% to just 1.8%… approximately half of the global annual

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Samson Mow: Bitmain S17/T17 Antminer Has High Failure Rate

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Cryptocurrency miners relying on the Bitmain S17 and T17 Antminer have said that the rigs have failure rates between 20-30% where they would normally be roughly 5%. According to an April 26 tweet from Samson Mow, Chief Strategy Officer (CSO) of blockchain infrastructure firm Blockstream, Bitcoin (BTC) miners using rigs from the world’s largest manufacturer of cryptocurrency mining equipment have been reporting technical issues. Heat sinks on the Antminer S17 and T17 rigs have been falling off, causing the machines to short out. In addition, users have reported problems with the power supply fans on the S17. Both pieces of equipment are designed to

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Vitalik Buterin Trolls Craig Wright Over Patent Trolling

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Ethereum founder Vitalik Buterin has taken a veiled swipe at Satoshi claimant Craig Wright over his blockchain patent portfolio, resulting in a heated debate on Twitter. Buterin said that anyone who brags over blockchain patents does not understand blockchain: Tweet: vitalik.eth ✔@VitalikButerin If you’re bragging about how many “blockchain patents” your country/company/organization has, you don’t understand blockchains. 2,361 10:59 AM – Apr 23, 2020 Twitter Ads info and privacy 574 people are talking about this Wright (nChain’s chief scientist) claims nChain has filed more than 800 applications for blockchain patents, and has been granted between 50 to 100. This patent portfolio poses a legal

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Ethereum Smart Contracts up 75% to Almost 2M in March

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The number of smart contracts deployed on the Ethereum network reached 1,971,632 in March, hitting a new all-time high and marking a 75% increase from the previous month. Dune Analytics, an online analytics platform, recorded the number of contracts deployed on Ethereum over the last 12 months with the average only registering around 670,000 contracts per month. Notably, this peak coincided with the cost to deploy on Ethereum being at one of the lowest points, with developers spending an average of $11,600 to do so. This suggests that the adoption of the Ethereum platform is on the rise, signaling strong support for

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Stablecoin On-Chain Activity Grows 800% in a Year

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The on-chain activity for stablecoins has increased 800% in the last 12 months according to market intelligence firm TokenAnalyst. This growth is not surprising considering the overall growth of the stablecoin niche. The combined market cap for all stablecoins ranks third in size behind Bitcoin (BTC) and Ether (ETH) and ahead of XRP (XRP). Over the past year, $290 billion of stablecoins were moved on-chain — in March alone $50.9 billion in value was transferred versus $6.2 billion in April 2019. Source:  TokenAnalyst Dai is most DeFi Despite the growth of the DeFi industry, more than half of the on-chain activity involves centralized exchanges. In fact, exchange-related activity outranks DeFi

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Bitfinex Made a $1.1 Billion BTC Transaction for only $0.68

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When someone transferred 161,500 Bitcoin (BTC) on April 10 for a fee of only 0.00010019 BTC — approximately $0.68 — the crypto world took notice. According to blockchain transaction details, the user moved approximately $1.1 billion dollars in the cryptocurrency at the time of press. Of that amount, 15,000 BTC was sent to a wallet, while the remainder — 146,500 BTC — was returned to the original address. Twitter user KRMA_0 was one of the first to spot the transaction, but it didn’t take long for someone to take credit for the move. In a response reaching his 15,000+ followers on Sunday, Paolo

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Peter Schiff Predicts Gold Will ‘Moon’ While Bitcoin Crashes

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Outspoken crypto skeptic and gold peddler, Peter Schiff, is once again taking aim at the Bitcoin community on Twitter. Schiff predicts that the coming years will see gold ‘moon’ while Bitcoin (BTC) “crashes back to Earth.” ‘Bitcoin bugs’ don’t understand money In a tweet posted on April 11, Peter Schiff predicts a reversal in what he describes as a persistent trend of “Bitcoin hodlers pok fun at gold investors” over BTC’s dramatic outperformance of gold in recent years. Schiff speculates that the trend will reverse as gold “moons” in the coming years, predicting that the price of BTC “crashes back

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Crypto Conference Defies COVID-19 Lockdown by Hosting in Virtual Realm

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The COVID-19 crisis may have put a stop to millions of sports events, work conferences and meet-ups across the world, but it has not halted those in the cryptocurrency space. The Coinfest Conference, which runs until April 4, has found a way to defy the coronavirus lockdown by setting up shop in the digital blockchain realm of Decentraland. The first day of the virtual conference kicked off on March 30th, beginning with a round of games that offered users the chance to win MANA tokens — one of Decentraland’s native currencies. Nearby museums and art galleries (seen below) offer visitors the

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