OKCoin, BitMEX Operator Grant $150,000 to Core Developer Amiti Uttarwar

As the saying goes: when it rains, it pours. And lately, the Bitcoin Core development community appears to be experiencing a welcomed shower. Today, cryptocurrency exchange OKCoin and HDR Global Trading Limited, which operates the cryptocurrency exchange BitMEX, announced a $150,000 grant for Core developer Amiti Uttarwar. The donation follows similar gifts from both donors, as well as others, that have been announced in recent weeks. Uttarwar focuses on Bitcoin’s peer-to-peer layer, notably reducing the frequency that wallets attempt to rebroadcast transactions and, therefore, the frequency with which transaction information…

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Bitcoin Mining Heats Up: High Difficulty Adjustment, Pool Consolidation, Less Concentration in China

It’s been approximately 37 days since the notorious Bitcoin reward halving that took place on Monday, May 11, 2020. On June 16, the Bitcoin network saw a large upwards difficulty adjustment making it much harder to mine bitcoins and slowing down the issuance rate because block generation has slowed down. Furthermore, a recent research report predicts the SHA256 ASIC mining industry will grow more consolidated in the future. Bitcoin Network Difficulty Jumps to 15.7 Trillion One of the most lucrative but also one of the most competitive operations in the…

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IRS Tells Couple With $7 Million in Bitcoin to Liquidate Crypto Assets and Pay off Tax Debt

The Internal Revenue Service (IRS) has won a case in which it demanded that a Maryland couple liquidate their bitcoin to pay-off a $1.1 million tax debt. Alexander and Laura Strashny proposed to the IRS to pay their 2017 tax liability, generated from non-crypto activities, in installments over a six-year period. But after seeing the Strashny’s $7 million cryptocurrency fortune, the tax collector rejected the proposal, insisting that the couple sell a part of their bitcoin and immediately settle the debt in full. The case was heard in a tax…

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Fed Chair Powell Warns of ‘Unsustainable’ Budget as US National Debt Crosses $26 Trillion

In his testimony before the Senate banking committee, Federal Reserve Chairman Jerome Powell warned Congress that the U.S. federal budget has been on an unsustainable path for years. He added that the U.S. economy is facing a deep downturn with “significant uncertainty.” ‘Unsustainable Path’ The Federal Reserve chairman testified before the Senate banking committee on Tuesday. While acknowledging that the federal spending is giving the economy a short-term boost during the coronavirus pandemic, he warned Congress that the U.S. economy faces a deep downturn with “significant uncertainty” about the timing…

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With Rising Interest in Plan B Services, River Financial Raises $5.7 Million

River Financial, a Bitcoin-based financial institution, has reported average monthly volume increases of 80 percent, a doubling of clients each month since January 2020 and has recently closed a $5.7 million seed round to continue development of its suite of bitcoin financial services. It partly attributes this growth to the unbridled economic stimulation efforts undertaken by central banks this year. “The surging activity we’ve seen since the beginning of 2020 has been in part inspired by the Federal Reserve’s unprecedented monetary intervention,” said Alex Leishman, River Financial’s CEO, in a…

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Demand for Charter Cities During Covid-19 Pandemic Grows Exponential – People Desire Semi-Autonomous Zones

For quite some time now, a number of libertarians, bitcoin evangelists, and blockchain entrepreneurs have been promoting the idea of charter cities and seasteading concepts. One such project, Pronomos Capital, has raised $9 million from heavyweight investors like venture capitalist Peter Thiel. Pronomos was incorporated in August by Patri Friedman, as the project is attempting to start sovereign charter cities in developing countries. Bitcoiners and Libertarians Embrace Charter Cities In Order to Create Semi-Autonomous Zones Worldwide In April 2019, the seasteaders and bitcoin entrepreneurs Chad Elwartowski and Supranee Thepdet, had…

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CFTC Chairman: US Must Lead the World in Crypto With Less Restrictive Rules

The chairman of the Commodity Futures Trading Commission (CFTC) has called on other regulators to establish a framework for sound crypto regulation. He believes that the U.S. must lead in the crypto field and “applying overly prescriptive rules could stunt the development of this important market.” CFTC Chairman Heath P. Tarbert has called on other U.S. regulators to take a tailored approach to regulating cryptocurrency. In an article published by Harvard Business Law Review, entitled “Rules for Principles and Principles for Rules: Tools for Crafting Sound Financial Regulation,” Tarbert outlined…

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2 in 1 – Learn How to Trade on Derivatives for Free and Win Apple Prizes From CoinDeal Derivatives

Derivatives trading is one way of generating huge profits in a very short time. This raises the question: How can you learn it at no cost? CoinDeal will allow you to test derivatives for free. This is a unique opportunity to try your hand at margin trading. At first, CoinDeal will launch a DEMO version and after a month of learning the official CoinDeal Derivatives, the platform will be available for every CoinDeal user. This is just the beginning… So let’s move to the point! In order to appreciate the…

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Will India Ban Crypto? 5 Exchange Executives Shed Light on the Truth

There has been some confusion over whether India will ban cryptocurrency, including bitcoin, following recent reports of a note being circulated by the government. News.Bitcoin.com interviewed executives of five cryptocurrency exchange platforms in India to find out the truth about the news. Indian Crypto Ban: What’s Likely? Talks of the Indian government banning cryptocurrency have resurfaced following a report by the Economic Times of a note being circulated by the finance ministry regarding a crypto ban. However, the report is unverified and the news outlet only cited an unnamed government…

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