Bitcoin Mining’s Electricity Bill: Is It Worth It?

They say it takes money to make money; in order to make a profit off Bitcoin mining, you have to buy mining equipment and pay your electricity bill first. As more miners join the Bitcoin network, some individuals fear that the amount of electricity consumed by mining will have a negative impact on the environment. Others believe that the benefits of Bitcoin mining outweigh the cost it takes to produce the digital currency. Bitcoin mining and energy consumption New Bitcoin are produced through a process called mining, where computers expend…

EOS Price Jumps on News of EOSIO 1.0 Release, $50 mln Fund to Support ‘Ecosystem’

Blockchain software developer Block.one has released version 1.0 of their open-source blockchain protocol, EOSIO, according to an official blog post published today, June 2. The software is a platform designed for building applications at both the enterprise and “community-driven” levels. According to the company’s post, Block.one does not guarantee that the EOSIO software will perform “as intended” or “will be free of errors, bugs or faulty code,” claiming that developers implement EOSIO at they own risk. In addition to the new software release, Block.one also announced today that they had…

Months After Raising a $100 Million ICO Kik Founder Calls Blockchain”Unconvincing”

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. At the True North tech conference earlier this week, Kik CEO Ted Livingston expressed his surprising opinion about blockchain: “Almost nobody should be looking at it.” Kin Founder Belittles the Blockchain What made the statement highly pessimistic is the fact that Livingston raised over $100 million via an Initial Coin Offering for his company in 2017. However, the CEO explained his ideology as the conference proceeded, providing respite to attendees: “Unless you’re trying to build one of…

Cryptocurrency Market Jumps $10 Billion as EOS Surges 16%, Bitcoin at $7,650

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The cryptocurrency market has increased by around $10 billion over the past 24 hours, as major cryptocurrencies including Bitcoin, Ripple, EOS, Stellar, and Tron surged in the range of 2 to 16 percent. EOS was the strongest performer today, recording a gain of 16.24 percent subsequent to its mainnet launch. No Major Movement Over the Past 7 Days Although it seems as if the market has recovered by large margins and bitcoin has rebounded from its previous…

EOS Price Pumps after Mainnet Release, But Is This Rally Organic?

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The EOS price rallied 16 percent on Saturday following the release of the blockchain project’s open-source mainnet software, but there’s more to this pump than first meets the eye. EOS Price Makes Market-Leading 16 Percent Rally Today’s EOS price surge came as part of a wider market rally, but the token nevertheless managed to outpace every other cryptocurrency ranked in the top 100. EOS spent most of the day trading just over the $12.00 mark but began…

Crypto Exchange Huobi Jointly Launches $93 mln China-South Korea Blockchain Fund

Huobi, the world’s third largest cryptocurrency exchange by trade volumes, has entered into a partnership to launch a $93 mln China-South Korea investment fund for blockchain companies, the China Money Network reported yesterday, June 1. Huobi, together with Chinese investment firm NewMargin Capital and South Korean securities firm Kiwoom Securities Co., Ltd., will use the $93 mln fund to invest in blockchain startups and foster collaboration between the two countries. A third company, South Korean Mirae Asset Financial Group, will also reportedly join the initiative as an investor. The news…

Supplemental IRS Guidance on Taxation of Cryptocurrencies is Needed: Expert Take

In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please email your ideas and CV to george@cointelegraph.com. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. This article does not contain investment advice…

Huobi Partners With Korean And Chinese Investors to Support Blockchain Initiatives

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Huobi, the global cryptocurrency exchange, has partnered with NewMargin Capital and Kiwoom Securities Co., Ltd. to start an investment fund to support blockchain enterprises in China and South Korea and encourage cooperation among the enterprises, according to China Money Network. The fund is targeting 100 billion won ($93 million). NewMargin Capital is a Beijing based venture firm while Kiwoom Securities is a South Korea based online brokerage firm. Industrial Bank of Korea and Korea Development Bank will…

Asian Cryptocurrency Trading Update: Qtum Rising on Founder’s Future Focus

Crypto markets have remained sideways as we enter the weekend. There has been no momentum in either direction and the markets are holding steady for now at around the $330 billion mark. Bitcoin has done very little over the past 3-4 days and is floating around the $7,500 level. Technical analysts are predicting a breakout as BTC approaches a major resistance level at $7,600. Ethereum has made small gains but is steadily heading upwards, currently trading around $580. The rest of the altcoins are mixed once again, but the majority…

Estonia Rolls Back Its Plan to Issue National Digital Currency

Estonia rolled back its plan to establish a national cryptocurrency Estcoin following criticism from the President of the European Central Bank, Mario Draghi, and local banking authorities, Bloomberg reported June 1. The managing director of the Estonian e-residency program, Kaspar Korjus, proposed the development and issuance of Estcoin in August last year. Along with becoming Estonia’s national virtual currency, Estcoin would ostensibly evolve into the official currency for the country’s e-residency program. In the program Estcoin would serve as an incentive for foreigners who use Estonia’s electronic identification to remotely…