Category: Miners
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2 Days After the Bitcoin Halving: Network ‘Remains Strong,’ Higher Fees, Bullish Sentiment
On May 11, 2020, the Bitcoin network completed it’s third block reward halving and the network seems to be chugging along just fine. However, it may take a while longer to see the halving’s effect on the mining industry and right now bitcoin transaction fees have risen exponentially. Despite the rising fees, the research firm…
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Up to 30% of Bitcoin Miners Close Shop as Business Turns Unprofitable After Halving
About a third of Bitcoin (BTC) mining firms may already be switching off their machines as the business becomes unprofitable due to a reduction in mining rewards. The third Bitcoin halving – consummated earlier today – reduced supply of the pioneering cryptocurrency, cutting the bonus paid to miners for solving mathematical puzzles that underpin the…
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Bitcoin’s Third Halving Complete: Reward Cut Surprisingly Faster Than Previous Time Estimates
The Bitcoin blockchain has experienced its third block reward halving on May 11, 2020, at approximately 3:21 p.m EST, even though quite a few countdown clocks estimated that the halving would occur on May 12. Bitcoin miners now get 6.25 BTC per block rather than the 12.5 BTC they acquired before the halving. On Sunday,…
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Bitcoin Transaction Costs Soar 400% Amid Halving Hyperbole
The average transaction cost for Bitcoin (BTC) soared 414% in the days before the halving, peaking at $3.19 on May 8, from as low as $0.62 on April 26. This is the highest price bitcoiners have paid for a transaction on the network in ten months, according to data from Bitinfocharts. Fees are paid each…
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Quantitative Hardening: Dissecting the Third Bitcoin Halving, 3 Key Data Points to Watch
In a touch more than 24-hours time, the third bitcoin halving will take place on May 12, 2020, on or around 9:50 p.m. ET. Miners will see their revenues slashed in half from 12.5 coins to 6.25 BTC after the halving and speculators wonder what will happen after the event. Currently, according to Google Trends…
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7 Days Left Until the Great Bitcoin Halving: Hashrate Jumps Over 140 Exahash, Miner’s Hoard
Just recently the price of bitcoin jumped over the $9,000 per coin zone, but retracted back a hair not too long afterward. On May 3, the research and analysis firm Glassnode reported that the overall BTC hashrate touched another all-time high above 140 exahash per second. As miners continue to hash away at the network,…
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The Bitcoin Cash Network’s Block Reward Officially Halved – Block 630,000 Mined
On April 8, 2020, the Bitcoin Cash network’s block reward halved as of block 630,000 and BCH miners hashing away at the network will now capture only 6.25 coins per block going forward, instead of 12.5. The BCH halving is the first major SHA256 branch to halve its block reward, as BSV and BTC will…
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The Bitcoin Cash Halving Countdown – 50% Less Block Reward in 4 Days
The Bitcoin Cash (BCH) network will face a halving in four days and many BCH proponents are getting ready for the big day. Unfortunately, the covid-19 outbreak has overshadowed the halving and BCH has dropped in value by roughly 30% since the end of February. Also Read: Bitcoin Halving Will Drop Inflation Rate Lower Than…
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Trader Survey Respondents Predict Bitcoin Price Will Surpass $22K in 2020
San Francisco-based exchange Kraken conducted a poll that stems from the responses of 400 “VIP” cryptocurrency traders. Despite the current economic climate, surveyed participants indicate they still believe the cryptoconomy is in a “bull market.” Moreover, Kraken’s survey respondents think BTC prices will touch a new all-time high at $22,866 per coin. Also read: 2x…