#bitcoin-network
#bitcoin-network

Ordinals Defy Bitcoin's Design Principles but Offer Miners Huge Post-Halving Advantages

Bitcoin network seeing influx of major developments with BRC-20 enabling BTCFi - DeFi.

Ordinals inscriptions contributing over $438 million in fees to secure the Bitcoin network. [ more ]

Bitcoin Magazine - Bitcoin News, Articles and Expert Insights

2 months ago

Swan Bitcoin Launches Mining Division, Targets Over 8 Exahash by March

BTC-only exchange Swan Bitcoin has unveiled its mining division, Swan Mining, which aims to secure the Bitcoin network and contribute to energy production.

Swan Mining has already purchased and deployed mining equipment, with plans to enhance its capacity from 4.5 exahash to over 8 exahash. [ more ]

news.bitcoin.com

Bitcoin Miners Breathe a Sigh of Relief as Difficulty Drops 1.45% After Five Consecutive Increases Mining Bitcoin News

Bitcoin's network has been putting miners through the wringer lately, with five straight difficulty increases that had them on edge.However, on May 4, 2023, at block height 788,256, the network difficulty level took a dip, dropping by 1.45% and bringing the overall difficulty down to 48.01 trillion for the next two weeks.

news.bitcoin.com

Bitcoin Difficulty Surges 4.68%, Taps New All-Time High; Metric Set to Surpass 40 Trillion Mining Bitcoin News

The Bitcoin blockchain recorded another difficulty increase on Sunday, Jan. 29, 2023, at block height 774,144.The network's difficulty increased by 4.68%, from 37.59 trillion to an all-time high of 39.35 trillion.Bitcoin Difficulty Reaches New All-Time High as Mining Gets Tougher Bitcoin's difficulty reached another all-time high, surpassing the record set two weeks ago, after rising 4.68% on Sunday.

news.bitcoin.com

Bitcoin Difficulty Set to Rise 3.82% to All-Time High of 39 Trillion Following Recent Increase Mining Bitcoin News

The Bitcoin network is set to record another meaningful difficulty increase on Sunday, Jan. 29, 2023, as current estimates expect it to rise 3.82% higher.The change follows the last difficulty retarget, which advanced by 10.26% to the current all-time high of 37.59 trillion.Block Time Breakdown: How Faster Discovery is Impacting Bitcoin Difficulty In just over a day, the Bitcoin network will see a difficulty increase of around 3.82%, according to current estimates.

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Coindesk

NFT Marketplace DIBA Goes Live on 'Really Good for Bitcoin' Smart Contracts

DIBA, a new marketplace meant for exchanging Bitcoin-based NFTs, went live on Thursday, the firm said in an e-mail to CoinDesk.The marketplace will allow users to trade any asset issued on Bitcoin smart contracts on layer 2 networks, such as Lightning Network.DIBA also released a Bitcoin-only wallet - which can store music files and art - in partnership with crypto miner Hut 8 Mining (HUT).

news.bitcoin.com

Bitcoin Network Hits 75% Progress Towards Next Reward Halving Featured Bitcoin News

At 11:06 a.m.Eastern Time (ET) on April 29, 2023, at block height 787,500, the number of blocks left to discover until the next Bitcoin blockchain halving is now fewer than 52,500 blocks.This means the network has progressed 75% through the 210,000-block halving cycle, which will ultimately result in a reduction of the block reward from 6.25 bitcoins per block to 3.125 bitcoins per block.

Acm

Digital life

Bitcoin Has Emitted 200 Million Tons of CO2 Since Launch

Researchers at the U.K.'s University of Cambridge estimated bitcoin miners have discharged nearly 200 million tons of carbon dioxide into the atmosphere since the cryptocurrency's launch 13 years ago.The researchers calculated that 199.65 million tons of carbon emissions could be attributed to the Bitcoin network by September, of which 92% transpired in the past four years.The Cambridge Bitcoin Electricity Consumption Index (CBECI) factors in cryptocurrency mining volumes for every country worldwide, and a model that covers energy consumption and power of bitcoin-mining hardware, current bitcoin prices, and the point at which certain equipment becomes profitable to operate in various situations.

Bitcoin

While Known Mining Pools Currently Dominate, Unknown Miners Discovered the Most Bitcoin Blocks During the Last 13 Years

Unknown Hashrate Discovered a Majority of Bitcoin Blocks During the Last 13 Years

news.bitcoin.com

Despite Transfers Lingering in the Mempool, Bitcoin's Daily Transaction Rate Taps All-Time High Bitcoin News

Bitcoin is on a roll in 2023, breaking records left and right.For instance, on May 2, at block height 787,895, the cryptocurrency's hashrate soared to 491 exahash per second (EH/s).Moreover, on April 20, at block height 786,240, the difficulty hit a new high of 48.71 trillion.But that's not the only thing that's been skyrocketing this month.

news.bitcoin.com

Binance Announces Lightning Network Withdrawal Implementation Amidst Bitcoin Network Congestion Issues Exchanges Bitcoin News

Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network.The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees.

Coindesk

Block Demand Leads to Fee Spike as Bitcoin-Based Memecoins Flourish

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.Fees on the Bitcoin blockchain have surged to two-year highs as the 'Bitcoin Request for Comment' (BRC-20) tokens and the rising popularity of the Ordinals protocol drives demand for block space.

Cointelegraph

What is a 51% attack and how to detect it?

Despite being underpinned by blockchain technology that promises security, immutability, and complete transparency, many cryptocurrencies like Bitcoin SV ( BSV), Litecoin ( LTC) and Ethereum Classic ( ETC) have been subject to 51% attacks several times in the past.While there are many mechanisms by which malicious entities can and have exploited blockchains, a 51% attack, or a majority attack as it is also called, occurs when a group of miners or an entity controls more than 50% of the blockchain's hashing power and then assumes control over it.

news.bitcoin.com

South Africa Retailer Pick n Pay Now Accepts Payment in Bitcoin at 39 Outlets Africa Bitcoin News

Pick n Pay, the South African retailer, has revealed that some of its grocery stores are now accepting bitcoin payments.To ensure payments are affordable, Pick n Pay reportedly uses the Bitcoin Lightning Network which is said to be suitable for high volume, low-value transactions.2017 Trial Served as Proof of Concept The South African grocery retail giant, Pick n Pay, announced on Nov.1, 2022, that some of its stores about 39 are now accepting bitcoin (BTC) payments.

The Verge

Bitcoin's energy use drops following price plunge

After taking a nosedive in June, the price of Bitcoin has stayed solow that it's forcingthe blockchain's massive electricity use to similarly dip.

Coindesk

Among Bitcoin Developers, Debate Is Raging Over Whether to Censor Ordinals BRC-20s

Frederick Munawa is a Technology Reporter for Coindesk.He covers blockchain protocols with a specific focus on bitcoin and bitcoin-adjacent networks.The soaring fees have forced some bitcoin users in Africa to seek alternative payment options including stablecoins, while crypto exchange Binance said it's in the process of integrating the "layer 2" scaling solution for Bitcoin known as Lightning Network.

Cointelegraph

How to earn passive crypto income with Bitcoin

Bitcoin ( BTC), along with other cryptocurrencies, has provided people with a venue to earn passive income, making money without any active involvement.

Engadget

Cryptocurrency is more centralized than many advocates claim, according to report | Engadget

One of the big advantages of cryptocurrency over other financial systems, according to many of its proponents, is that no particular company, central bank or government has control.

Cointelegraph

From games to piggy banks: Educating the Bitcoin 'minors' of the future

The crypto winter is here.It's a trying time as prices grind down, but it's the best moment to build and learn.For some Bitcoiners, the bear market is a time to plant trees or create memes.

Bitcoin News

Solana Co-Founder Believes Bitcoin Needs to Change to Proof-of-Stake Consensus to Remain Relevant - News Bitcoin News

Solana Creator Believes Bitcoin's Proof-of-Work Consensus Algorithm Will Affect Its Usage

Bitcoin News

2 years ago

19 Million Bitcoin Have Been Mined Into Circulation, 2 Million Left to Be Found - News Bitcoin News

Satoshi's Mathematical and Predictable Design - 19 Million Bitcoins Have Been Issued

Coindesk

Binance Pauses Bitcoin Withdrawals for the Second Time in 24 Hours

Binance has once again paused bitcoin withdrawals as the Bitcoin network suffers from unprecedented congestion.Binance briefly paused bitcoin withdrawals for around two hours Sunday afternoon U.S. time as the number of unconfirmed transactions hit a record high.It is not yet known when Binance will resume withdrawals after the second pause.

news.bitcoin.com

Bitcoin's BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days Blockchain Bitcoin News

Blockchain by Jamie Redman Four days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million.However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million.More Than 13,000 BRC20 Tokens Built on Bitcoin Are Now Worth $279M The BRC20 token standard, which is built on top of the Bitcoin network, is gaining momentum and the BRC20 token economy is flourishing.

news.bitcoin.com

Bitcoin's Average Transfer Fees Experience Sharp Increase: 122% Rise in 10 Days Bitcoin News

Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 to $1.704 per transaction.The rise in onchain fees coincides with the new Ordinals digital collectible trend on the network, with the number of inscriptions nearing 20,000.

news.bitcoin.com

Bitcoin Miners Discovered 53,240 Blocks This Year, Foundry Led the Pack, Hashrate Tapped an All-Time High Mining Bitcoin News

As the new year approaches, more than a dozen bitcoin mining pools still dedicate a total of 238 exahash per second (EH/s) toward the Bitcoin blockchain in order to secure the network and reap mining rewards.Statistics indicate that the mining pool Foundry USA discovered the most block rewards this year, as the operation found 11,779 bitcoin blocks out of the 53,240 rewards mined during the last 365 days.

news.bitcoin.com

Bitcoin's Mining Difficulty Expected to Drop Significantly, Retarget Could Be 2022's Largest Reduction Mining Bitcoin News

Bitcoin miners could catch a break in a week or so, on or around Dec. 5, 2022, as the next difficulty retarget is expected to see a significantly large reduction.Estimates show the next difficulty retarget could drop anywhere between 6.13% and 10% lower.Presently, the difficulty change looks as though it could be 2022's largest reduction if it surpasses the 5.01% decline recorded on July 21.

news.bitcoin.com

Bitcoin's Hashrate Remains Stronger Than Ever in the Face of Crypto Winter Prices and Sky High Difficulty Mining Bitcoin News

Despite the fact that bitcoin miners are getting bare minimums in profits per petahash per second (PH/s), and the myriad of headlines showing specific mining operations folding from the crypto winter, the network's total hashrate continues to chug along at close to 300 exahash per second (EH/s).

Bitcoin News

Mining Report Shows Bitcoin's Electricity Consumption Decreased by 25% in Q1 2022 - Mining Bitcoin News

Bitcoin Mining Council Publishes Q1 2022 Covering Mining Industry's Sustainable Power Mix and Technological Efficiency

news.bitcoin.com

While Miners Deal With Low BTC Prices, Bitcoin's Mining Difficulty Target Expected to Increase 3% Higher Mining Bitcoin News

Bitcoin's mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080.During the last 2,016 blocks, Bitcoin's hashrate has been around 254.3 exahash per second (EH/s), and block intervals have been faster at 9:41 minutes per block.

news.bitcoin.com

Bitcoin's Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits Mining Bitcoin News

While bitcoin prices have been lower than the estimated cost of bitcoin production, the network's hashrate has dropped a great deal since mid-November.Presently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s) after dropping below the 200 EH/s range six days ago.

news.bitcoin.com

Bitcoin's Mining Difficulty Jumps 3.44% Higher Reaching Another Lifetime High Mining Bitcoin News

Bitcoin recorded another mining difficulty rise on Sunday, October 23, 2022, at block height 760,032 rising 3.44% higher.

news.bitcoin.com

Despite Significant Difficulty and Low BTC Price, Bitcoin's Hashrate Continues to Climb Higher Mining Bitcoin News

Following the largest difficulty increase the Bitcoin network has seen in 2022, the network's hashrate has not been affected by the 13.55% increase.EH/s at block height 758,138, which is a 1.23% increase since the hashrate ATH recorded on October 5, at block height 757,214.Moreover, block generation intervals have been less than ten minutes per block, which means another notable difficulty increase is expected to happen on October 23.

news.bitcoin.com

Progress Toward Bitcoin's Halving Is 60% Complete, Block Times Suggest Reduction Could Happen Next Year Mining Bitcoin News

According to countdown statistics based on the average block generation time of around ten minutes, progress toward the next Bitcoin block reward halving has surpassed 60%.

news.bitcoin.com

Current Block Times and Estimates Suggest Bitcoin's Mining Difficulty Is About to Catapult Much Higher Mining Bitcoin News

As bitcoin is coasting along under the $20K region, the network's hashrate is still riding high at 250.04 exahash per second (EH/s) following the all-time high (ATH) the hashrate tapped on October 5.

Bitcoin

Research Finds Bitcoin Mining Equates to 0.10% of Global Greenhouse Gas Emissions

Cambridge Centre for Alternative Finance Study: 'Bitcoin Network Produces 48.35 Million Tons of CO2 per Annum'

Bitcoin

BTC's Lower Price Shrinks Bitcoin Mining Profits, Hashrate Remains Unaffected

Bitcoin Mining Revenue Keeps Getting Smaller - Fewer Machines Profit

Miners continue to keep the hashrate going strong even though profits are much less than they were last month.

Bitcoin News