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Mining Service Nicehash Hacked, $60 Million in User Funds Stolen

The mining service Nicehash was reportedly hacked today, with over $60 mln in funds stolen. Users report that funds have been moved from their own internal Nicehash Bitcoin addresses to a single Bitcoin address controlled by an unknown party. The company released a statement on Reddit, saying:“Unfortunately, there has been a security breach involving NiceHash website. We are currently investigat

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Bitcoin Mining Suited to Big Corporations, Individuals Can Profit in Other Ways

The days of mining Bitcoin in your bedroom on a desktop computer are long gone. It used to be that a small network of staunch Bitcoin supporters would mine the cryptocurrency on individual systems, more as a hobby than anything else. But as time went by, this became more and more of a challenge.At the end of 2009, the Bitcoin hash rate was 8 million times per second. By the end of 2010, it had gro

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This Bitcoin Developer Is About to Take on the Mining Hardware Industry

BtcDrak, the most active pseudonymousBitcoin Core contributor to date, is making a move into the mining hardware industry. The developer, who besides having contributed to the Bitcoin Core repository also maintains thebitcoincore.org website and theBitcoin Core Community Slack channel, has helped set up ASIC chip manufacturing companyHalong Mining over the past year. The startup has now produced a

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Slushpool Overtakes AntPool to Become the Largest Bitcoin Mining Pool

Some interesting changes are happening in the world of Bitcoin mining pools. With the hashrate dropping in favor of BCH, rankings of pools are shaken up as well. Slushpool is now the biggest Bitcoin mining operation open to the public. They generate over 20% of all blocks, which puts them ahead of AntPool, An interesting development, especially when considering what this means for the future.For t

Bitcoin Cash Price Surpasses $1,800 — Eying the Second Largest Market Cap

Markets and Prices As news.Bitcoin.com reported earlier this weekend, bitcoin cash (BCH) markets have been on a rampage following the canceled 2MB hard fork event. BCH prices have increased three-fold since then, reaching a high of $1810 across global exchanges and has since dropped to around $1400. Alongside this, the network hashrate has also

All You Need to Know About This Whole SegWit vs. SegWit2x Thing, Explained

What is Segregated Witness?Segregated Witness, often abbreviated to SegWit, is a proposed update to the Bitcoin software, designed to fix a range of serious issues.It is developed by its long-standing team. Bitcoin Core is currently the most popular Bitcoin reference client, in use by the majority of the businesses in the industry.Originally, the update was aimed at solving transaction malleabilit

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China’s Largest Bitcoin Exchange CEO Publicly Condemns SegWit2x

Star Xu, the CEO of OKCoin, the largest bitcoin and cryptocurrency exchange in China, has publicly condemned SegWit2x, describing it as a “shitcoin.”Xu stated:“Personal advice is B2X should not be listed. It’s a shitcoin but remove replay attacks protection.”Charlie Lee, the creator of Litecoin and former Coinbase executive, agreed with the statement of Xu, criticizing its lack of strong

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Wall Street Analyst: Strong Case For Bitcoin Price Achieving $25,000 by 2022

Tom Lee, a highly regarded Wall Street analyst and the co-founder of Fundstrat, believes the Bitcoin price would achieve $25,000 in the next five years, by 2022.Short-Term Price Trend of Bitcoin: At Least $6,000 by Mid-2018In the short-term, by mid-2018, Lee explained that the price of Bitcoin would surpass the $6,000, based on the Metcalfe’s law. “If you build a very simple model valuing Bitc

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The Curious Case of Bitcoin’s “Moby Dick” Spam and the Miners That Confirmed It

The scaling debate has dominated the Bitcoin space for well over two years now. As a central issue, Bitcoin’s one-megabyte block size limit was often insufficient to include all transactions on the network. This ultimately led to the replacement of this block size limit for a block weight limit through SegregatedWitness, allowing for up to four megabytes of transaction data. And a group of Bitco

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China's Miners on Tenterhooks as Exchanges Soon Shut

While there has been nothing officially done on the legality of Bitcoin mining, amid bans striking other parts of the cryptocurrency market such as ICOs and exchanges, there is still fear and uncertainty.Miners in China have always managed to turn a profit, with the country’s low electricity cost and seemingly friendly approach to mining and cryptocurrency. However, as China takes a hard-nosed l

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