At the moment, the cost of the first cryptocurrency is 50% lower than the historical maximum, and the network complexity has increased many times since December 2017. Let’s figure out whether digital money mining remains a profitable activity in the current conditions. Now the difficulty of mining Bitcoin is at a record high of 11.8 T. Since December last year, this figure has increased by 115%, and since the end of 2017, when the first cryptocurrency set a historical maximum value of $ 20,000, by 556%. Since then, the cost of the main digital coin has decreased almost twice, but…
Author: BlockchainJournal
Blocking bank accounts of individual entrepreneurs (IP) with tax debt is completely legal. This statement was made by the Central Bank of the Russian Federation in response to a request from the Ministry of Finance, Kommersant writes. Moreover, according to the Central Bank, a businessman must answer for his obligations with all his property. “The Constitutional Court three times confirmed the“ indistinguishability ”of personal and entrepreneurial property,” the Central Bank said in a response. However, […]
On September 18, Germany approved its own blockchain strategy, which will not allow third-party stablecoins to become alternative currencies in the country. This decisive step is aimed at preventing Libra from Facebook or any other similar projects from threatening the sovereignty of the state. However, such a strict approach is not able to deter people from participating in the crypto industry, as evidenced by the results of a recent survey conducted by the Dutch financial company ING Bank. The survey involved 15,000 Europeans from 15 different countries. About 51% of respondents believe that cryptocurrencies can be spent in most retail…
Turkish authorities have announced their intention to create a national blockchain infrastructure where distributed registry technology will be used in public administration. In the framework of the presentation “Strategy 2023”, which took place the day before in Ankara, representatives of the Ministry of Industry and Technology of Turkey announced a plan to create an innovative infrastructure using DLT technology. The presentation showed that blockchain and DLT are the priority areas of development for the country next year. In a presentation report, the authors cite Genome startup research, the results of which showed that blockchain is one of the most developing…
Lithuanian Narvesen convenience stores and Lithuanian Press kiosks will start selling Bitcoin (BTC) , Cointalegraph writes with reference to local media. According to the publication, outlets will distribute coupons, which can then be exchanged for bitcoins . Narvesen and Lithuanian Press were chosen due to their wide network of representative offices and a favorable attitude towards cryptocurrencies . “Currently we have about 60 stores in which we are constantly striving to expand the range of products and services, ” said Vigintas Bartasiavičius, CEO of Narvesen. Recently, we offered a cashing service for customers in our busy city, and now we…
Bobby Lee, co-founder and former CEO of BTCC's first Chinese exchange, believes that the Chinese have always regarded Bitcoin as an investment, not a payment system. As part of his speech at the Untold Stories program, Bobby Lee shared his personal experience of interacting with Chinese regulators, talked about the creation of the first crypto exchange in China, also revealed some secrets of the culture of his people and commented on the development of a new project to create Ballet. After Li explained that for the Chinese, Bitcoin is more a means of investment than a payment tool, he went…
Craig Wright, the self-proclaimed Bitcoin creator, has requested another adjournment in his case against his former business partner, Dave Kleiman, in which the court ordered him to pay 500,000 BTC to his relatives. This is written by the Cointelegraph. Wright’s lawyers filed a motion for a 30-day delay in providing all the necessary documents on September 17. As a reason, the document, inter alia, indicates […]
The Australian Federal Police (AFP) and the local Securities and Investments Commission (ASIC) have uncovered a large criminal organization involved in identity fraud and money laundering through cryptocurrencies. This was reported on the ASIC website. According to authorities, fraudsters bought personal data of people on the Internet, and then used them to steal money from retirement […]
For most people, the cryptocurrency market seems unfamiliar and quite dangerous, and making money on it is hardly possible. The same prejudice concerns getting a moment when you start your own mining farm . Fortunately, there are more affordable and less expensive options, such as cloud mining and altcoins with the PoS consensus algorithm. To passively earn money by storing altcoins with the PoS algorithm, you most often need to have the necessary (usually small) amount of coins with you. Several large cryptocurrency exchanges , including KuCoin , offer automatic staking on their platforms. Given the lower prices, leading to…
The team of the IOTA blockchain project introduced the Chronicle solution, which allows users to easily store the entire transaction history, while maintaining full control over the data. The day before, IOTA Foundation representatives announced their new development, Chronicle, which provides node owners the ability to store all Tangle data in a safe place and access it at any time in the future. Previously, the owners of the nodes faced certain difficulties in the operation of the service, which were directly related to the limitations of the crypto-project storage. The developers of the new solution emphasize that the reliability of…