Monday, June 25, 2018

Mt. Gox Victims / Bitmain / 2018 Low / EOS

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Here are today's ten most important Bitcoin stories, efficiently ranked & summarized by smart humans, not algorithms:

$BTC (12:44 p.m. EST): $6,291.80 (4.19%) // 90-day high: $9,927.71 // 90-day low: $5,755.25/ / More

$BCH (12:44 p.m. EST): $749.04 (5.35%) // 90-day high: $1,786.80// 90-day low: $608.37 // More

$ETH (12:45 p.m. EST): $461.70 (3.93%) // 90-day high: $831.65 // 90-day low: $365.43 // More

$LTC (12:45 p.m. EST): $82.88 (6.24%) // 90-day high: $251.03 // 90-day low: $85.13 // More

$XRP (12:45 p.m. EST): $0.48 (3.51%) // 90-day high: $1.20 // 90-day low: $0.47 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Mt. Gox victims have taken a major step to getting repaid. A Japanese court on Friday ruled to pull Mt. Gox out of bankruptcy protection, opening the door for the exchange to repay at least $1 billion in stolen cryptocurrency to the company’s former customers. The exchange had held more than 200,000 bitcoins following the hack in 2014 that have been frozen in the company’s bankruptcy estate since. By stopping bankruptcy proceedings, the court commenced a legal process known as civil rehabilitation, allowing Mt. Gox to distribute its assets to ex-customers and debtors. -FORTUNE

Mt. Gox to pay back theft victims
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2. Bitmain mined 42 percent of all bitcoin blocks last week. Bitmain has steadily increased its hash rate in recent months and has moved closer to a controlling 51 percent where it could, theoretically, perform a 51 percent attack on the bitcoin network. The growth has not been a surprise as Bitmain manufactures and uses its own products in the mining process. The company’s ASIC miners are able to mine bitcoin at a faster rate than high-end GPUs. -BITCOINIST

Bitmain dominates bitcoin hash rate
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3. The price of bitcoin dropped to $5,755 per coin on Sunday, its lowest total of the year. The coin traded at $5,967 on February 6. The last time bitcoin was worth less than $5,800 per coin was last November. The feeling was a bit different then as bitcoin was setting price records on an almost daily basis on its way to nearly $20,000 per coin. Investors that purchased bitcoin at about $19,000 per coin would have lost about 70 percent of their investment. -TIME

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4. EOS has overtaken ethereum as the top blockchain in the world, according to the Chinese government. The China Electronic Information Industry Development updated its blockchain rankings last week as part of an ongoing project to inform citizens. Ethereum slipped to second place while NEO, Stellar and Lisk rounded out the top five. Bitcoin did not make the top 10 in rankings. -CCN

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5. Former bitcoin core developer Jeff Garzik sold almost half of the available tokens in his new Metronome cryptocurrency to just three investors. Metronome is designed to work a cross-blockchain cryptocurrency that allows users to make trades with the same coin on different blockchains. The project has received a lot of attention based on Garzik’s position in the cryptocurrency community. The large token purchase, though, has angered some potential investors who claim they were unable to purchase tokens in the project. -BITCOINIST

Metronome tokens sold to three investors
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6. Tether has had a higher daily trading volume than ethereum in recent weeks. About $3 billion in Tether has exchanged hands each day, a total about 7 percent higher than ethereum. A few months ago, ethereum had the second highest trading volume – also around $3 billion – but has dropped to $1.7 billion as the cryptocurrency’s price has dropped. Bitcoin still has the highest daily trading volume but its total has dropped from more than $5 billion a few weeks ago to about $3.4 billion in recent weeks. –NEWS BTC

7. A cryptocurrency researcher has published data that he believes disproves the idea that bitcoin’s price has been manipulated. The data uses a statistic called “Bitcoin days destroyed” to judge investor sentiment. -BITCOINIST

8. Forget lambos. Bitcoin whales in Silicon Valley have used bitcoin to buy millions worth of watches, diamonds, and other luxury items. –BITCOIN.COM

9. The price of bitcoin continues to fall despite record mining. Bitcoin miners have been more active than ever but transaction levels have remained stagnant. -CRYPTOVEST

10. BTCC Pool Limited is prepared to sell 49 percent of its business for $17 million. BTCC Pool Limited, the mining pool business of the BTCC cryptocurrency exchanged, would sell to a Hong Kong-based financial service firm. -COINDESK

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