Square’s mobile payments application Cash App will be buying 16% of Bitcoin’s (BTC) new supply if the company keeps buying at the same rate after the halfing if the price does not go up. Twitter account dedicated to Bitcoin Rhythm pointed out in a tweet from Nov. 7 that the company’s Bitcoin buying rate will account for 16% of the total new Bitcoin per quarter after the block reward halving. The event will see the amount of Bitcoin created with each new block cut in half. Future price changes not taken into account He explained that, currently, Cash App is …
Bitcoin (BTC) advocates continue to focus on the May 2020 block reward halving this week as the impact on price becomes more apparent. Analysts excited for high-stakes halving In a Twitter discussion beginning Oct. 18, commentators noted that next year’s event will reduce the amount of new Bitcoin in circulation up to $63 million per week at current prices. The block reward refers to the amount of new Bitcoins miners receive for mining a new block. Currently 12.5 BTC, after the halving, the reward will fall to 6.25 BTC. Previous halving events have triggered upward price motion, leading to suggestions …
Jihan Wu, co-founder and CEO of Chinese mining giant Bitmain, believes the next Bitcoin (BTC) block reward halving may not lead to a bull market, but the coin’s price will grow in the long term. According to Chinese industry news outlet 8BTC’s report published on Oct. 11, Wu made his remarks during the World Digital Mining Summit held in Frankfurt. Bulls may be late this time Per the report, Wu explained that the crypto market moves in cycles and this time the next bullish phase may not start after the halving. He is also confident that in a long-term perspective …
On Aug. 10, the Binance and Litecoin (LTC) community came to life as news of a potential “dusting attack” was announced through the official Binance Twitter account. In the tweet, the team explained that around 50 Binance Litecoin addresses received a fractional amount (0.00000546) of Litecoin, which the exchange’s security team identified as a part of large-scale dusting attack. Related: Litecoin Halving Aftermath: LTC Price, Hash Rate, Community Reaction James Jager, project lead at Binance Academy and the person who first identified the attack, discussed the event with Cointelegraph: “It was network-wide, which meant it affected all users of litecoin …
Litecoin (LTC) has just experienced an event that happens once in four years: the second halving. On Aug. 5, 2019, Litecoin rewards for producing a block were halved from 25 LTC to 12.5 LTC. At a speed of 2.5 minutes per block produced, halvings occurs every 840,000 blocks. Ahead of the event, Cointelegraph discussed the features of the Litecoin halving and the building market sentiment that preceded this momentous milestone. Analysts were uncertain regarding how this will affect the price, hash difficulty and sentiment of the miner community. In a recent interview, Litecoin creator Charlie Lee explained that the predictions …
All eyes were on Litecoin (LTC) price Aug. 5 as its block reward halving failed to excite markets and produce considerable gains for investors. Litecoin 7-day price chart. Source: Coin360 LTC gains fail to materialize Data from Coin360 showed Litecoin, which is the fifth-largest cryptocurrency by market cap, trading at around $104 Monday, a few hours after the halving took place. Once the process completes, miners will gain just 12.5 LTC per block of mined transactions, instead of the current 25 LTC. While not guaranteed, this increased scarcity has the ability to push up the price of a token, Cointelegraph …
With just one day to go until Litecoin’s (LTC) next halving event, Cointelegraph sets out all you need to know about the cryptocurrency’s reduction in block rewards. In spite of their reputation for creating price hikes, the lead up to the halving has witnessed a 25 percent decline in valuation over the last month. What is halving? Halving is a process that occurs when the mining reward for a cryptocurrency is reduced by 50%. Miners receive crypto rewards for solving problems that create each new block on a given blockchain. The rewards differ for each cryptocurrency. With Litecoin, miners are …
The effect of block reward halvings for both Bitcoin (BTC) and Litecoin (BTC) mining could be mitigated by merged mining, according to a report by a research arm of major crypto exchange Binance released on July 12. Following Charlie Lee’s prediction that some miners may shut down Litecoin mining after the halving, which is expected to take place on Aug. 5, 2019, Binance Research analyzed the potential of so-called merged mining to retain incentives for crypto miners. Merged mining is a practice of using the work done for one blockchain, or parent blockchain, on other smaller child blockchains by implementing …
As bitcoin’s price keeps setting new yearly highs, the question on everyone’s mind right now is whether it’s different this time. Let’s take a closer look at why this rally is nothing like the “bubble” in 2017. Bitcoin all-time performance. Source: coin360.com As many experts pointed out, BTC going above the key psychological $10,000 mark is likely to trigger FOMO (i.e., fear of missing out), according to Fundstrat’s Tom Lee, who adds that bitcoin can now easily take out its all-time highs. Other market analysts, such as Tone Vays, however, disagree. He told Cointelegraph: “I actually don’t think it’s important …