Video: Fresh Competition Is Shaping The Bitcoin Mining Hardware And Pool Landscape

Always a sector to watch, the Bitcoin mining space is host to several narratives that are worth a closer look today, as fresh capital and competition enter the market. Among these are the geographic distribution of hash power, mining hardware hierarchy and mining pool offerings.  On this episode of Bitcoin Magazine’s “Bitcoin In Asia,” Nishant Sharma, a long-time bitcoin mining industry insider in China who is now a founder and partner of BlocksBridge Consulting — a communications strategy and advisory firm focused on the bitcoin mining sector that serves some…

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Introducing CBPI: A New Way To Measure Bitcoin Network Electrical Consumption

There have been many claims in recent years that bitcoin and the miners securing the network via SHA-256 proof of work use an unconscionable amount of energy. But what data are these claims based on, are the source calculations using flawed or sound approaches and assumptions? How much electrical power does the network draw and how much electrical energy has the Bitcoin network used historically? Methodologies And Misconceptions Due to the vast, globally distributed topology of the Bitcoin network, the amount of electrical power and energy that miners consume isn’t…

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The Van Wirdum Sjorsnado: Bitcoin Core 0.21 Supports Tor V3

On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss one of the biggest releases in Bitcoin’s history: Bitcoin Core 0.21. Specifically, they dive into how this release will add support for Tor V3 addresses, an important development for preserving privacy, and explain what this means and why it matters. The pair also discuss how new Bitcoin nodes find existing Bitcoin nodes when they bootstrap to the network. Listen to the audio version here: Apple Podcasts: https://podcasts.apple.com/us/podcast/the-van-wirdum-sjorsnado/id1532957243#episodeGuid=33ac1be5-ac65-45cf-a47d-8b3a65d8f6b4 Spotify: https://open.spotify.com/episode/6nLPIOciXW8M6KXZJcl922?si=5s3pobbTQNC1z89caH2EhQ Libsyn:http://nadobtc.btc.libsynpro.com/bitcoin-core-021-supports-tor-v3-nado-13 Helpful links for following along in the episode:…

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New Civil Liberties Alliance Challenges IRS Collection Of Private Crypto Investment Data

If you’re a bitcoin trader or investor, you’ve probably traded on multiple cryptocurrency exchanges and, for the most part, trusted that those exchanges are keeping your data secure from unlawful data collection just like a bank or credit card provider would. Unfortunately, that doesn’t seem to be the case.  On July 15, 2020 (Tax Day this year), New Civil Liberties Alliance (NCLA) filed a lawsuit on behalf of James Harper against the IRS, challenging the agency’s unlawful collection of private cryptocurrency information. Harper decided to take this action against the…

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Taproot Merged Into Bitcoin Core

Taproot, the highly-anticipated protocol upgrade designed to add smart contract flexibility and more transactional privacy to Bitcoin, has officially merged into Bitcoin Core. The implementation now merged into Bitcoin’s code includes the Schnorr and Taproot consensus rules proposed in BIPs 340, 341 and 342, authored by Core contributors Pieter Wuille, Jonas Nick, Anthony Towns and Tim Ruffing. Schnorr signatures are a cryptographic innovation that has long been on top of many Bitcoin developers’ wish lists. Their activation would enable more flexible multisignature transactions and make them indistinguishable from standard Bitcoin…

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Despite Legal Turmoil, BitMEX Research Shows Us How Not To Use Brain Wallets

This article originally appeared in our Down The Rabbit Hole newsletter. If you want our news and analysis straight to your inbox, make sure you subscribe now! BitMEX has been dominating the cryptocurrency news cycle lately, for reasons that it would rather avoid. On October 1, the U.S. Commodity Futures Trading Commission (CFTC) charged the exchange with facilitating unregistered trading, and the District of New York filed criminal actions against its founders, Arthur Hayes, Ben Delo and Samuel Reed. Reed, BitMEX’s CTO, was arrested and subsequently released on a $5 million…

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Lies, Deception And Unnatural Money

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning” – Henry Ford The continued functioning of the financial system you have lived under for your entire life is dependent on the average person not understanding exactly how it works, and there are many reasons for this. As you read deeper and deeper into this article, I hope that you will realize how deceiving our money really is. Governments…

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As Bitcoin Mining Becomes More Competitive, Will Pools Ensure Decentralization?

Bitcoin’s underlying computer network is the largest, most sophisticated computerized system in the world with working units in almost every part of the globe, from China to Kazakhstan to Venezuela to the U.S.  And with recent all-time highs in hash rate and difficulty level, the Bitcoin mining industry is more competitive than ever. Meanwhile, there are questions about whether efforts toward its decentralization are enough to combat China’s dominance in the sector. An important element to Bitcoin mining’s overall growth as well as its decentralization is the network of mining…

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Crypto For Congress Puts “American-Made” Bitcoin Into The Hands Of Policymakers

This week, the Chamber of Digital Commerce sent all 535 members of the United States Congress about 0.0047 BTC ($50 worth at the time), in an effort to educate the country’s legislators around cryptocurrency and blockchain technology that it calls Crypto For Congress. Leveraging Federal Election Commission rules that allow for cryptocurrency-based campaign contributions and its own Political Action Committee to make the BTC donations, the Chamber of Digital Commerce ultimately hopes to motivate these lawmakers to embrace the advantages presented by blockchain technology. “Our industry faces a number of…

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Sats-Earning Platform Carrot Wants To Reward The World In Bitcoin

Of its many potential applications, bitcoin as a medium for rewarding microtasks is one of its most exciting. This implementation takes advantage of the technology’s natively digital qualities, its relative freedom from borders and its high divisibility. Now, with its public beta phase announced today, the sats-earning platform Carrot wants to realize this potential on a new scale.  Carrot is a platform designed for people to earn bitcoin rewards for supporting the projects and brands they love. Creators can list tasks that their supporters are likely undertaking anyway and offer…

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