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NEW RECORD: The total computing power now dedicated to securing the bitcoin blockchain has set yet another record. According to data from mining services operator BTC.com, the average bitcoin mining hash rate over the last two weeks has reached 71.43 quintillion hashes per second (EH/s), up from 64.49EH/s on July 23. The threshold was breached as bitcoin adjusted its mining difficulty at block height 586,672 on Monday 2:52 UTC – that is a 6.94EH/s, or 10.78 percent jump since mid July. Full story
REDUCED REWARDS: Litecoin (LTC), now the fourth-largest cryptocurrency by market capitalization, has just reduced its block reward for miners by half. The litecoin blockchain reached the trigger block height of 1,680,000 at 10:16 UTC on Monday, according to the litecoin explorer from mining pool operator BTC.com. Occuring every 840,000 blocks (roughly every four years), this anti-inflationary “halving” event reduced the reward from the previous 25 LTC to 12.5 LTC. Full story
TOKEN PUMPER: Alexey Andryunin, a 20-year old college student from Moscow, became a sensation after he opened up to CoinDesk how his company was helping little-known token projects get traction via inflated trading volumes. In a new video interview, he further explains the business of market manipulation and explained why he believes the current market rules make manipulation inevitable. Full story
BARRED DOMAINS: Crypto companies may be banned from hosting .bank and .insurance domain extensions. fTLD Registry Services, a domain name system (DNS) registry, announced it is looking to restrict the DNS extensions from generic banking “service providers.” The proposal comes amid an alleged uptick in applications for .bank domain names by crypto firms, it said. Originally, the .bank domain was reserved for government-regulated retail banks, savings associations, national banks, or bank holding companies. Full story
BIG NAMES: IBM has launched a new blockchain project called Trust Your Supplier (TYS), with big name firms Anheuser-Busch InBev, GlaxoSmithKline, Lenovo, Nokia, Schneider Electric and Vodafone already on board. Announced Monday, TYS joins IBM’s successful stable of track-and-trace supply chain and logistics blockchain consortia, which include Food Trust and TradeLens. TYS is focused on supplier onboarding, an umbrella term relating to a wide and varied assortment of supplier information like ISO certifications, bank account data, tax certifications, certificates of insurance and other supplier data required for exchanging purchase orders and invoices. Full story |
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| DOMINANCE RATE: Bitcoin is looking north, having broken out of a bearish price pattern with a move above $11,120 early this morning. The move is backed by a surge in the dominance rate to the highest level in over two years and bullish technical indicators. As a result, the next resistance line at $12,000 could come into play in the next few hours. The bullish case would weaken if prices fall back below $11,120, although that looks unlikely. Full story |
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| | BUYERS' BAN: Apple’s new credit card won’t let users purchase cryptocurrencies, according to its customer agreement. The Verge reported Friday that the agreement, posted to Goldman Sachs’ website, also prohibits customers from purchasing casino chips and lottery tickets. However, the ban might not be all that unusual – many credit cards prohibit the purchase of cash equivalents, while some states have made it illegal to use credit cards to buy casino chips or lottery tickets. |
WHO WON #CRYPTOTWITTER  |
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