Introducing Bitcoin Cash Charts a Graphical Constellation of BCH Data

Introducing Bitcoin Cash Charts a Graphical Constellation of BCH Data

Promoted Since we launched Bitcoin.com back in 2015 all of us have been extremely busy building our website to be the number one go-to source for all things Bitcoin related. These days we have forums, a non-custodial wallet, games, educational resources, a crypto-market data portal called Satoshi Pulse, a newsdesk, and so much more. This week Bitcoin.com has launched our newly revamped charts portal which now shows the entire Bitcoin Cash (BCH) ecosystem at a glance. We’re super pumped to share our new chart page that shows the BCH price, market capitalization, daily transactions, money supply and a myriad of other charted factoids that’s sure to make any BCH supporter’s life a whole lot nicer. Also read: Coingeek Speaks on Consensus Changes and Next-Gen ASIC Chip Bitcoin Cash Charts Bitcoin.com is pleased to announce our new Bitcoin Cash Charts web portal a site that’s dedicated to providing the public with a beautiful and rich display of the BCH ecosystem. Every single day there’s a lot going on within the Bitcoin Cash environment and people usually have to jump around to multiple websites to get charts and data in order to get certain info on their favorite cryptocurrency. With Bitcoin Cash Charts we’ve packaged everything all in one place for BCH enthusiasts, businesses, traders, merchants and basically anyone interested in this innovative technology. Our re-charged charts portal for BCH market action shows viewers: The Bitcoin Cash Price BCH Market Capitalization BCH Daily Transactions BCH Money Supply Chain Value Density Price Volatility Bitcoin Cash Activity, Blocks, and Economics Our charts take things a bit further with information on BCH transaction values, total transactions, fee percentage, fee rate, transaction amount, average UTXO amount, and the avg. UTXO value. Big block fans can get a glimpse at the Bitcoin Cash network’s blocks as our charts also measure block size, block intervals, blockchain size, block height, daily blocks, and the number of transactions per block. The economic section covers a broad constellation of Bitcoin Cash data as well showing the decentralized currency’s inflation rate, Metcalfe’s Law, the Velocity of Money and more. Advanced Charts and Customizable Toggles   Lastly, for the tech-savvy Bitcoin Cashers, the advanced section shows transaction size, output volume, UTXO growth and other statistics. Moreover, there are many toggles…

Korea’s Jeju Island Seeks to Become an ICO Hub Despite Domestic Ban

Korea’s Jeju Island Seeks to Become an ICO Hub Despite Domestic Ban

South Korea’s Jeju island is seeking to become a free zone for initial coin offerings (ICOs) – a plan, if approved, would allow crypto projects to conduct token sales in the self-governing province despite the country’s tough stance on the issue. Korean news outlet JoongAng Daily reported on Monday the governor of the Jeju province has proposed the plan in a meeting last week with central government officials and lawmakers including Korea’s finance minister. Governor Won Hee-ryong indicted that with the proposed plan, he intends to make Jeju island a blockchain hub where projects that focus on innovation will be free to host ICOs as a way to finance their companies and services. The aim, according to Won, is “for Korea to become a leader rather than a consumer of this new global industry.” In addition, as part of the plan, Won is also seeking to form a task force with officials from both the Jeju province and the central government as well as industry experts, in a bid to advance his government’s support for blockchain development. Designated as a self-governing province in the early 2000s, the Jeju island government has enjoyed a high level of administrative autonomy as part of the country’s effort to boost economic and tourism development in the area. While it remains to be seen how the proposed plan would play out, it comes at a time when Korea’s central government has followed China’s lead to announce that unauthorized ICOs are deemed as illegal fundraising activities. However, talks of lifting South Korea’s ban on ICOs were already seen among lawmakers in the country, as previously reported by CoinDesk. Jeju island image via Shutterstock The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

Exchanges Japan’s GMO Internet has unveiled new priorities for its cryptocurrency business along with the performances of its crypto exchange and mining operations. The changes going forward result from the bear market and increased total hash rate. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space GMO Coin Profits Up 7.3-Fold Japanese internet giant GMO published its second-quarter results for this fiscal year on Thursday. The report details the performances of the company’s cryptocurrency operations as well as changes in future plans. In the second quarter, GMO’s overall crypto business generated a “revenue of JPY 2.6B [~US$23,481,811] in just a year since the launch,” the report reads. It also generated operating profits of 250 million yen (~$2,257,744) in the quarter compared to a loss of 730 million yen (~$6,592,612) the previous quarter. For GMO Coin, the company’s crypto exchange operation, its “revenue increased 7.3-fold” in the second quarter compared to the previous. Its Q2 net sales were 1.42 billion yen (~$12,824,623) with operating profits of 550 million yen (~$4,967,283). In the first quarter, the subsidiary made a loss of 760 million yen (~$6,863,883). Furthermore, GMO revealed that its crypto exchange’s “customer accounts are growing steadily,” with about 177,000 accounts opened in one year. Mining Revenues Up 92%, Unexpected Loss Incurred GMO’s crypto mining business generated 1.17 billion yen (~$10,568,436) in revenue in the second quarter, up 91.8% from the previous quarter. While “our hash rate is increasing as expected,” the company made an overall loss of 360 million yen (~$3,252,429). Noting that the “loss was against our expectation,” the company proceeded to change its mining business policy. In July, GMO mined 568 BTC, a slight increase from the previous month of 528 BTC. However, the hash rate in July was 384 PH/s, unchanged from the previous month. Citing external, “uncontrollable factors,” namely the low price of bitcoin and the increasing total hash rate, GMO detailed a change of priorities. Previously, the company’s top priority was to mine cryptocurrencies in-house, then to offer cloud mining services to the public before selling mining machines. The new strategy puts selling the machines first, then mining in-house before offering their cloud mining services. The company will also “secure a more inexpensive power supply” to lower electricity costs for mining. GMO hopes…

You Can Now Get Paid (A Little) For Using Bitcoin’s Lightning Network

You Can Now Get Paid (A Little) For Using Bitcoin’s Lightning Network

Those running lightning nodes are earning a little extra bitcoin. Trumpeted as a way to scale bitcoin to handle mainstream adoption, there’s a lesser-known perk to spinning up a lightning node to allow users to send cheap, instant payments – you can make money. To be clear, we’re not talking very much. Today’s average fee on the lightning network clocks in at about one satoshi, worth a fraction of a cent, per hop (so every time a node routes the transaction to another node). As such, one of lightning’s prominent application developers, Alex Bosworth, reported a monthly income of roughly $2. Though the profits are pretty meager now, they could be a sign of how the network will develop over time. The lightning network is what the name implies: a network. In order to send a payment to someone, the payment will typically bounce across several different nodes before it reaches the recipient – similar to the old-style mail carriers passing letters or packages from person to person to get it to its destination. On the network, each node operator has the option of charging a small fee for carrying the payment a part of the way. Because this fee market is already emerging, it displays that crypto enthusiasts are more than willing to take some risks (people using the nascent lightning network right now have actually been labeled “reckless” by the protocol’s developers). Speaking to this, Bosworth recently tweeted: “I think for many people, even OG HODLers, the satoshis earned for providing routing will be among the first bitcoin they ever earn outside of coin trading.” Tweaking the fee Still, there are some hurdles to earning satoshis with lightning. For now, participating in the lightning network takes some technical know-how and quite a bit of digital storage capacity. Anyone who wants to route a lightning payment needs to download bitcoin’s entire transaction history, nearly 200 GB of data, and then download the lightning software on top of that. Currently, there are at least 3,000 nodes on the network. After becoming a node, the user needs to update the default fee feature, which is set at zero. For the LND implementation of lightning, one of the most popular, this ability to change the fee and monitor how much you’re…

Bitcoin’s Price Falls Below $6K to Near 2018 Low

Bitcoin’s Price Falls Below $6K to Near 2018 Low

The price of bitcoin fell below $6,000 on Tuesday, a move that brought the world’s largest cryptocurrency within 2 percent of its 2018 low.  At press time, bitcoin is trading hands at $5,922, printing a 5 percent 24-hour depreciation, according to the CoinDesk Bitcoin Price Index, up slightly from a low of $5,785 set June 24. Bitcoin is not alone in the sinking ship, however, as the broader market continues to suffer. At press time, the total market capitalization of all cryptocurrencies is below $200 billion, its lowest figure yet seen in 2018. What’s more, many of the other big name cryptocurrencies already set their lowest prices of the year this past week. Ether (ETH), the cryptocurrency that powers the ethereum blockchain is trading hands at $264 – its lowest price since November 2017. Likewise, The XRP price has fallen below $0.30, its lowest price of the year and a more than 90 percent depreciation from it’s all-time high over $3 set in December. Image via Shutterstock The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Venezuela’s Constituent Assembly Drafts Law to Create Central Bank for Crypto

Venezuela’s Constituent Assembly Drafts Law to Create Central Bank for Crypto

Regulation A member of the Venezuelan National Constituent Assembly has reportedly revealed that the assembly is preparing a reform to the country’s Constitution that includes a central bank for cryptocurrencies. This follows the Venezuelan government’s latest effort to tie the new bolivar currency to the petro. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Central Bank for Cryptocurrencies Hermann Escarra, a member of Venezuela’s National Constituent Assembly, has revealed the assembly’s plan for cryptocurrencies in an interview with Reuters in Caracas on Thursday. He divulged: The National Constituent Assembly of Venezuela…is preparing a reform to the Constitution that would include a central bank for crypto-assets and a superior court to the Supreme Court of Justice. Reiterating that the central bank for crypto will be incorporated, he elaborated, “There will be the central bank with its functions in exchange, monetary and financial policy.” He also emphasized that, as part of the reform, “a court will be created that will be above the supreme court.” Hermann Escarra in an interview with Reuters. Photo credit: Reuters. Escarra, described by Reuters as “one of the most influential members of the assembly that prepares the changes to the 1999 constitution,” said that “the draft changes to the Constitution will be presented in 35 days to the board of the Constituent Assembly.” In May last year, Maduro called for a constituent assembly to draft a new Venezuela Constitution to replace the 1999 Constitution of his predecessor, Hugo Chávez. The Constituent Assembly elections were held on July 30 last year. However, “The assembly was controversial from the start, with opposition activists denouncing it as unconstitutional while its supporters argued it would bring peace to the polarised South American nation,” the BBC detailed. Escarra further elaborated: The reform is expected to include the petro, a cryptocurrency announced by the government of President Nicolás Maduro in February as a way to increase its foreign exchange earnings, in the midst of the economic crisis and the sanctions imposed by the United States. Venezuela’s ‘Crypto’ Efforts Earlier this year, the Venezuelan government launched a digital currency called the petro which Maduro claimed to be a cryptocurrency backed by the country’s oil reserves. However, the petro is met with much controversy since all claims regarding this…

Below $200 Billion: Crypto Market Sinks to New 2018 Low

Below $200 Billion: Crypto Market Sinks to New 2018 Low

Falling prices have sent the total market capitalization of all cryptocurrencies back below $200 billion. Data from CoinMarketCap shows the total market cap slid to $189 billion on Tuesday, a move that follows successive days of market declines. The market cap first rose above $200 billion in November 2017, a development spurred at the time by the listing of bitcoin futures products. Leading the downward push is zilliqa, which has seen the value of its ZIL cryptocurrency fall by 35 percent in the past 24 hours. The decline is accompanied by continued growth in the so-called bitcoin dominance rate, or the percentage of the total market cap that is contributed by the world’s largest cryptocurrency. As CoinDesk reported on August 11, the dominance rate rose above 50 percent for the first time in 2018. At press time, that figure is being reported as 54 percent, it’s highest annual total. Image via Shutterstock Join 10,000+ traders who come to us to be their eyes on the charts, providing all that’s hot and not in the crypto markets. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

XRP Cryptocurrency Now Down 90% From 2018 Price High

XRP Cryptocurrency Now Down 90% From 2018 Price High

XRP, the world’s third-largest cryptocurrency by market capitalization, fell to its lowest price of 2018 on Tuesday. At 00:01 UTC, just after Monday’s close, the cryptocurrency dropped to $0.27 cents for the first time since December 12, 2017, according to CoinDesk price data. XRP was last seen trading at $0.2705, marking roughly a 2.95 percent decline since the day’s open. At press time, XRP is one of the biggest losers among the top 10 cryptocurrencies by market capitalization and is reporting a 7-day loss of 36 percent, according to data from CoinMarketCap. Its individual market capitalization also fell by more than $5.4 billion within that period. Ripple has now effectively erased most of the gains seen during last year’s bull run and is down 92 percent from its all-time high of $3.75. According to CoinDesk price data, XRP was trading at $0.16 cents exactly one year ago, leaving some to speculate a further drop in price. The cryptocurrency is one of a number of networks to see declining values during the Monday session. Well-known cryptos including ether, bitcoin cash and Cardano have all seen 24-hour losses in excess of 7-12 percent. The total market capitalization of all cryptocurrencies is down nearly $14 billion from its yesterday’s top of $214.4 billion and is currently sitting just above $200 billion, CoinMarketCap data shows. Disclosure: The author holds USDT at the time of writing. Image via Shutterstock The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

Op-Ed The path to a cryptocurrency revolution might just run through a sleepy Austin, Texas industrial park, home to offices of Cody Wilson and his company, Defense Distributed in the United States. Parallels exist between downloadable files from a website, allowing users access to 3D printable firearms, and a permissionless, decentralized, censorship-resistant medium of exchange. If the world’s most powerful government succeeds in preventing Mr. Wilson from engaging in basic speech, hold on to your electronic wallet because it could be next.   Also read: Report: 15,000 Twitter Crypto Scam Giveaway Bots You Are Responsible Enough to Read Unapproved White Papers and Controversial Firearm Schematics The fate of cryptocurrency’s future could very well rest in the hands of a 30-year-old former law school student who has been called The Most Dangerous Man in the World by Wired magazine. No one could have foreseen this, of course, least of whom Satoshi Nakamoto when he delivered his white paper, Bitcoin: A Peer-to-Peer Electronic Cash System not quite a decade ago. In it, the pseudonymous author went about detailing technical aspects of a trustless digital cash system with a decentralized audit log, a database conferring immutability for transaction recordings. The history is well known by most Bitcoiners, and today an entire universe of variations on that Bitcoin theme have sprouted. They’ve done that because, for the most part, a healthy portion of the world has access to critical information regarding cryptocurrencies. And it is a universe unto itself: initial coin offerings, alternative coin projects, tokenizing, blockchain technology, speculation, exchanges, crypto loan products, etc. The list is virtually endless. What is in store for decentralized, digital money is in large measure up to how governments react. A sizeable number of enthusiasts will suggest there is no scenario by which crypto can be completely snuffed out. This is true as far as we understand at the moment. It is always dangerous to underestimate the power of government, however. A few twists and legal turns here, a few draconian laws there, and, yes, even Bitcoin could be stifled, albeit not killed outright – the genie is surely too far from the bottle now for Bitcoin to be snuffed out. Cody Rutledge Wilson is Satoshi Nakamoto Governments have every incentive to make…

US Federal Court Denies Motion to Remand Against Ripple

US Federal Court Denies Motion to Remand Against Ripple

The U.S. District Court, Northern District of California has ruled to deny a motion to remand against Ripple, its subsidiary XRP II, and Ripple CEO Brad Garlinghouse, according to an official document issued Aug. 10. The original lawsuit was first initiated by XRP investor Ryan Coffey in a San Francisco court on May 3, 2018, claiming that he lost $551.89 while trading XRP tokens. The class action was filed by law firm Taylor-Copeland, alleging that Ripple sold XRP tokens in violation of both the U.S. the Securities Act and the California Corporations Code. The plaintiff also claimed that XRP is not genuinely decentralized. According to court documents, the plaintiff failed to show whether the presence of a Securities Act issue was sufficient to bar the defendant from removing an action under the Class Action Fairness Act. In the ruling the court found that, “The parties candidly admit that their research failed to turn up any case directly addressing this question and the court’s own research fared no better.” The plaintiff was seeking a “rescission of all XRP purchases, damages, and a constructive trust over the proceeds of defendants’ alleged sales of XRP.” At the time the lawsuit was first filed, David Silver, a partner at Silver Miller Law Firm, commented to Cointelegraph that “lawsuits like this are simply private litigants testing the legitimacy of these companies,” claiming that it will bring more judicial clarity. A Ripple spokeswoman said that at the moment the lawsuit was filed, the SEC had not yet decided whether XRP is a security. She claimed, “We continue to believe XRP should not be classified as a security.” In early June, Ripple appointed former chair of the U.S. Securities and Exchange Commission (SEC) Mary Jo White as a representative in the class action filed by Coffey. Recently, Ripple released the second quarter 2018 report for its digital asset, arguing that the XRP token price was in line with the overall trend in crypto markets, which “[underscores] XRP’s independence from Ripple.”