Category: Bitcoin News

Rewards, Hardware, Pools and Energy

admin

What is Bitcoin mining? Bitcoin mining is the process that keeps the BTC network secure and operational. Bitcoin (BTC) miners collect pending transactions, bundle them into blocks and repeatedly perform hashing attempts (trial and error) until they produce a hash that meets the network’s difficulty target. The first miner to find a valid solution broadcasts their block. Once the rest of the network verifies it, that miner earns a reward. If another miner solves the block before you, your result becomes invalid, known as a “stale block,” and you must…

South Korea Tax Agency Targets Cold Wallets in Crypto Seizures

admin

South Korea’s National Tax Service (NTS) is expanding its crackdown on tax evasion, warning that even crypto assets stored in cold wallets will be subject to seizure. According to a report from local news outlet Hankook Ilbo, an NTS official said the agency is prepared to conduct home searches and confiscate hard drives and cold wallet devices if it suspects that tax delinquents are hiding their crypto assets offline.  “We analyze tax delinquents’ coin transaction history through crypto-tracking programs, and if there is suspicion of offline concealment, we will conduct…

Debasement Trade Fuels Bitcoin Rally As Dollar Weakens

admin

Financial institutions are quickly waking up to the “debasement trade,” according to commentators, which could be a boon for assets such as gold and Bitcoin.  Institutions have a new concept to cling to called the “debasement trade,” which will be the thing that protects them, said entrepreneur Anthony Pompliano in a podcast on Thursday.   It’s the same thing that goldbugs and Bitcoiners have been talking about for years, and now institutions have just realized that “no one is ever going to stop printing money,” he added. “This now feels like…

Privacy Experts Warn Ireland Over Encryption and Chat Control Laws

admin

A privacy coalition has urged the Irish government to abandon work on a pre-draft bill that would grant law enforcement access to encrypted messages. Ryan Polk, an author at the Global Encryption Coalition (GEC), which advocates for and defends encryption worldwide, penned an open letter on Thursday, arguing that legislation proposed by Minister for Justice Jim O’Callaghan could lead to increased cybercrime and deter businesses from the country. “Any country that undermines encryption risks threatening the privacy and security of people far beyond its borders. But Ireland, as host to…

Phala Network Will Become Ethereum L2 Following Community Vote

admin

Polkadot parachain Phala is set to become an Ethereum layer 2 after the community voted in favor of a recent proposal aimed at ramping computation offerings to enterprise client. “Proposal Passed: Phala is Migrating to Ethereum L2!” a Phala X post from Wednesday reads, adding that it marks the next chapter for the project as it pushes for “greater scalability and enterprise-grade security.” The post adds that Phala (PHA) tokenholders will receive the new ERC-20 variant at a 1:1 ratio, the “migration” will start before Nov. 20, and that “staking, rewards,…

Fundstrat Forecasts Ether Rally To $5,500 After Brief Dip

admin

Financial research and analysis firm Fundstrat has tipped Ether to likely “bottom out” over the next two days before heading back higher, with an eventual rally to $5,500.  “I do not make much of crypto weakness in recent days, and expect ETH likely bottoms out over the next 1-2 days before heading back higher,” said Fundstrat Global Advisors Managing Director Mark Newton. His commentary was shared by Bitmine chairman and Fundstrat adviser Tom Lee on Thursday. Newton also noted that there has been a “minor three-wave pullback,” which he said…

Time Is Running Out to Save internet Freedom, Warns Pavel Durov

admin

Messaging app Telegram founder and CEO Pavel Durov warns that a “dark, dystopian world” is approaching, with governments worldwide rolling back privacy protections. “I’m turning 41, but I don’t feel like celebrating. Our generation is running out of time to save the free internet built for us by our fathers,” said Durov in an X post on Thursday. “Once-free countries are introducing dystopian measures,” said Durov, referencing the European Union’s Chat Control proposal, digital IDs in the UK and new rules requiring online age checks to access social media in…

Crypto Entry-Level Jobs Are Scarce: Dragonfly Capital

admin

Securing a job in the crypto industry could be challenging for less-experienced candidates this year, with only one in 10 crypto roles at the entry level, according to a new survey from venture capital firm Dragonfly Capital. Crypto recruitment executives say the trend may be linked to a surge in failed crypto projects in recent times. “Crypto was hard to break into; less than 10% of roles were entry-level,” Dragonfly Capital said in a report published on Thursday, citing data collected from 85 crypto companies in late 2024 and Q1…

BNB Chain Memecoin Season Hits Wall As Coin Prices Fall 30%

admin

Key takeaways: Binance’s new “Meme Rush” launchpad promotes fair launches but triggered a sell-off as traders await new launches. A single wallet controlled large token amounts, fueling manipulation concerns and steep price declines. Low liquidity and inflated volumes amplified the memecoin sell-off across the BNB Chain ecosystem. Multiple BNB Chain memecoins tumbled more than 30% on Thursday after posting strong gains earlier in the week. The sell-off occurred as BNB (BNB) itself recorded its first-ever $100 single-day price drop, falling to $1,246 at the time of writing. Is this the…

BCP, BitGo Launch Peru’s First Regulated Crypto Pilot

admin

Peru’s banking regulator has authorized a pilot crypto platform, marking the country’s first regulated foray into digital assets. The project, dubbed Cryptococos, will allow select clients of Banco de Crédito del Perú (BCP) to buy and hold Bitcoin and USDC under BitGo’s custody. To participate in the pilot, users must register, prove a minimum banking history with BCP, and complete an investment risk assessment before purchasing, according to Thursday’s announcement. Approved users will be able to buy and sell Bitcoin (BTC) and USDC (USDC) within a closed-loop system, meaning all…