Bitcoin mining costs hit the skies despite the fall in coin’s value

Bitcoin mining costs to outpace Bitcoin price
Bitcoin mining costs hit the skies

Bitcoin mining community is in a state of panic as the Bitcoin hash rate is shooting up rapidly irrespective of the coin’s price. In fact, the difficulty of adding a block has increased significantly over the past one year. While the Bitcoin price [as of today $6,410] has been fluctuating, the hash rate hasn’t reduced, in the last four months, it has increased by 100 %. If the trend continues, the cost of mining one Bitcoin could very well cross the value of one Bitcoin itself.

Read more at bcfocus


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Huobi Australia Offers Ten Cryptocurrency/AUD Trading Pairs

huobi-australia

Huobi Australia who struck a strategic partnership with Blockchain Global has announced trading of ten cryptocurrency/AUD pairs. These include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC). Well, this is not it, they also plan to add more cryptocurrencies in the future. Huobi recently launched its investment fund targeted at supporting blockchain-based startups is another step to give fierce competition to rivals and seize more significant market share.

Read more at bitcoinist

solarisBank Offers Special Accounts to Blockchain and Cryptocurrency Firms

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SPECIAL ACCOUNTS TO BLOCKCHAIN AND CRYPTOCURRENCY FIRMS

solarisBank a bank based out of Berlin has launched “Blockchain factory” solution that offers financial management services to firms whose business operations deal directly and indirectly with cryptocurrency solutions and blockchain technology. Roland Folz, the CEO of solarisBank stated – There is high demand from the blockchain world for a licensed partner that forms the technological and regulatory bridge to traditional banking — as a technology company with a banking license, we are the natural partner,”.  The Blockchain Factory aims to reshape the vision of decentralized banking by empowering the pioneers that are building it.

Read more at Bitcoin.com.

Bitcoin will become the world’s single currency: Jack Dorsey

Bitcoin will overtake the dollar in importance as it becomes the single global currency of the internet within a decade, Jack Dorsey, one of Silicon Valley’s leading entrepreneurs, has said. Despite recent weakness in the value of bitcoin and concerns that it cannot currently process transactions fast or cheaply enough to act as a currency, Mr Dorsey, who is chief executive of both Twitter and the payments company Square, believes that bitcoin will overcome these obstacles and will be used to buy everyday items such as coffee.

Read more at The Times

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