Bitcoin News and Information Today

Bitcoin Miner Canaan buckles up after a rough third quarter

Nov 15, 2022

Bitcoin miners are running out of luck this year. The pressure on the mining industry is high. Rising energy prices and environmental concerns dominated this year. Some companies were already caught up in the so-called miner capitulation and had to leave the playing field.

Elon Musk is bullish on Bitcoin again

Nov 14, 2022

Elon and Bitcoin is not a love story. Many Bitcoiners cannot forgive the fact that Tesla stopped accepting BTC over environmental concerns. While he was taking a break from Bitcoin he was still a very outspoken proponent of Dogecoin which he still supports. It seems that some things have changed and that the current situation demanded that Musk commented on the current events.

Silk Road hacker caught with fifty thousand BTC under bathroom floor

Nov 08, 2022

The US government has just given itself another opportunity to put some Bitcoin on its balance sheet. The Department of Justice found 3 billion worth of Bitcoin on a computer in a popcorn can in the bathroom of a man in Georgia. He had hacked the online dark market Silk Road ten years ago.

Is the BTC price decoupling from the stock market?

Nov 08, 2022

In the recent month or so, Bitcoin and crypto prices seem to be decoupling from stock markets. It's a promising sign that the correlation that seemed to last forever, might be breaking. It's too early to decry victory yet, but still. After all, why would you hold crypto in your portfolio, if it moves with other assets?

New Bitcoin mining software will give more power to small players

Nov 04, 2022

Bitcoin mining pools are great for distributing block rewards to solo miners who otherwise hardly stand a chance. But these pools pose a centralization risks: only five pools make up two thirds of the global hashrate. Since mid-October, there is an update to the way mining pools and miners can interact: Stratum V2. This will eventually put block production in the hands of miners.

Outrage: Hydro-Québec attempts to shut down Bitcoin miners

Nov 04, 2022

Bitcoin is under constant attack by its critics and their biggest talking point is the energy consumption of the network that is caused by the miners. Many Bitcoiners had high hopes that with the mining industry opting for green energy sources this debate would sooner or later become obsolete. It seems that selecting a fitting supplier isn’t enough. Why is Hydro-Québec looking to cut off Bitcoin miners from one of the biggest green energy supplies available in the world?

Taproot Asset Representation Overlay explained: What is TARO bringing to Bitcoin?

Nov 03, 2022

Bitcoin is decentralized and secure. The downside of both features is that Bitcoin doesn’t scale very well and cannot execute complex smart contracts as Ethereum does. This limits its use and while the mother of cryptocurrencies still stands tall, it needs to change and adapt to the existing demand. The most promising technical approach to solve at least one of both issues is the so-called Lightning Network. It is a protocol that runs on top of Bitcoin and offers almost instant finality of transactions by facilitating them off-chain and confirming them at a later point in time. In this sense, the Lightning Network is the transactional layer that still profits from Bitcoin’s security and finality of its blockchain. TARO is a brand-new invention that was brought to life by Lightning Labs and just introduced in late September 2022 as an alpha version.

Miner crisis: When will the market consolidation end?

Nov 03, 2022

Mining companies came under heavy pressure this year. There are three main reasons why this is happening and two of them are part of the crypto market. The third however is an external reason that is brand new and we don’t have any data points from the past that could hint how this scenario is going to play out. With more companies facing bankruptcy some even fear that the mining industry could collapse just like the CeFi lenders did. Why are more companies getting wiped out and why is this not a problem for Bitcoin and proof of work?

El Salvador: Bukele’s Bitcoin trades are far less than transparent

Nov 01, 2022

Bitcoin is transparent. Its blockchain and the supply of BTC can be audited at any time and by any person. In fact, the ongoing validation of each new block can be considered already an audit of present and past transactions. This transparency is a feature that is unmatched and it has been working continuously for the last 13 years. Trading with Bitcoin on the other hand is not necessarily transparent and has brought up some issues in El Salvador more recently. How much Bitcoin was bought by El Salvador and why is transparency an issue when it comes down to Bukele’s trades?

Bitcoin pubescent: five ways in which it has challenged authority

Oct 31, 2022

Is it a coincidence that Satoshi Nakamoto released the Bitcoin Whitepaper on Halloween? Regardless, since that 31st of October in 2009, Bitcoin has been a ghost haunting and taunting the traditional financial system ever since. Let's look at five ways in which it has done so.

Bitcoin Miner Core Scientific close to bankruptcy

Oct 28, 2022

How would you feel if your Bitcoin stash plummeted from thousands to a measly 24 within half a year? Probably the same way American Bitcoin miner Core Scientific is feeling now: issuing a bankruptcy warning. Bitcoin mining is a cutthroat business.

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