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 network by 50% to 6.25BTC per block. According to Alejandro De La Torre,...
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, news.Bitcoin.com reported on the bitcoin halving that was expected to happen on May 12, 2020, but due to the speed of...
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 time a Bitcoin transaction is processed and confirmed by a miner, who pockets the fees, in addition to the block reward, as revenue....
Jury Trial Scheduled for Billion Dollar Bitcoin Lawsuit Against Craig Wright
Florida’s Southern District Court has been dealing with the Kleiman v. Wright case for well over two years and now the lawsuit is finally going to trial. A jury trial is set for July 6, 2020, in the Miami Division courthouse before Judge Beth Bloom. Meanwhile, Craig Wright, the self-proclaimed Satoshi Nakamoto, filed a motion on May 8, asking the court to once again toss out the lawsuit. Judge Beth Bloom Schedules a Jury Trial...
Exchange Crypto with 0% Fees in Lumi Wallet
Everybody’s sick of commissions. Lumi Wallet is renouncing them, introducing 0% Fees on all crypto to crypto exchange operations. All you need to get rid of hidden fees is the Lumi Wallet app and the promocode – BTCNEWS. Why is Lumi doing this? Decentralized finance has undeniable advantages over fiat currencies: convertibility, diversification, speed, and security of transfer. But the junction of two worlds – crypto...
