BTC hash rate slumps amid seasonal miner migration in China

Analysts are anticipating Bitcoin’s second-largest negative difficulty adjustment of the year following the end of Sichuan’s rainy season. Mining data aggregators attribute a slump in Bitcoin’s hash rate to the end of the wet season in Sichuan, resulting in many miners migrating to other jurisdictions. On Oct. 26, Thomas Heller of Bitcoin (BTC) mining blog Hashr8 reported that roughly 22 exahashes per second (EH/s) of mining power had left the Bitcoin network, coinciding with the end of the season the previous day (based on weather forecasts). Kevin Zhang of mining-focused…

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The Many Facts Pointing to John Nash Being Satoshi Nakamoto

Six years ago, a number of theories spread across the internet that claimed the famed American economist and mathematician John Forbes Nash Jr. was Satoshi Nakamoto. There’s a bunch of circumstantial evidence that has invoked some research into the possibility that Nash could have been Bitcoin’s creator. The following editorial is the ninth installment of news.Bitcoin.com’s “the many facts” series, with a comprehensive look at some of the evidence that is tied to John Nash and Bitcoin’s mysterious creator. During the last decade, there’s been a wide variety of individuals…

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Exit scams and regulations disrupt global darknet markets

Recent exit scams have displaced the users of darknet markets, with Eastern European-only platform Hydra now the largest worldwide. A report published by blockchain forensics firm CipherTrace has detailed significant disruptions to the clandestine darknet marketplace sector following a spate of exit scams during recent months.  Despite opportunities for new marketplaces to capture the users of the now-defunct platforms, CipherTrace notes the absence of a single platform dominating Western volume. It estimates that the Russian-focussed Hydra market is now the largest worldwide. Hydra is estimated to have generated more than…

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Kevin Hart Learns Bitcoin Is a Legit Investment, Not ‘Voodoo Money’ in an All-Star Telethon

Popular actor Kevin Hart gave bitcoin a boost this weekend during an all-star telethon to benefit the Muscular Dystrophy Association (MDA). Hart told viewers that cryptocurrency is a legitimate investment right after he called it “voodoo money.” Kevin Hart Shouts Out About Bitcoin and Cryptocurrency American comedian, Hollywood actor, and producer Kevin Hart shouted out this weekend that bitcoin and other cryptocurrencies are legitimate investments during an online fundraiser he hosted for the benefit of the Muscular Dystrophy Association (MDA) and his Help From the Hart charity. The inaugural MDA…

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Alibaba’s Jack Ma praises the disruptive nature of digital currencies

The current conservative international financial system doesn’t suit young people or young economies, says Ma. Jack Ma, the now-retired founder of Alibaba Group, recently spoke to a crowd of bankers and regulators at the Bund Summit in Shanghai about the role digital currencies will likely play in the future global financial system: “Digital currency could create value and we should think about how to establish a new type of financial system through digital currency.” He opined that the current financial system governed by Basel Accords is too conservative and does not…

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Anheuser-Busch considers integrating blockchain further into its beer production line

The company is testing a new blockchain pilot that would give customers the power to track their beer’s barley by the bottle. Anheuser-Busch InBev, the parent entity of Budweiser, Corona and many other beer brands, recently began to pilot a platform which lets end-customers track their malt beverages on the blockchain. This is not the first instance of the company’s blockchain interest. They have previously unveiled a number of blockchain initiatives, including a vending machine ID verification system and document management protocols based on the technology.  “For the first time in our…

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Price analysis 10/26: BTC, ETH, XRP, BCH, LINK, BNB, DOT, LTC, BSV, ADA

Bitcoin and altcoins are showing signs of short-term exhaustion, meaning a few days of consolidation could occur. Morgan Creek Digital co-founder Anthony Pompliano highlighted data from Santiment, which showed that the 30-day rolling correlation between Bitcoin (BTC) and the S&P 500 is 0. Pomp stressed that the lack of correlation shows that Bitcoin is a store of value.  Along with that, Bitcoin has also outperformed most traditional asset classes such as gold, the S&P 500, crude oil, and the U.S. dollar since the sector wide crash that took place in…

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British fintech firm opening physical crypto bank branches in India

The new venture will reportedly include 34 “physical branches and operations” in northern India. According to an Oct. 26 announcement from Cashaa, the fintech firm will be partnering with India’s United Multistate Credit Cooperative Society to build a crypto-friendly financial institution called UNICAS. This new venture will reportedly include 34 “physical branches and operations” in northern India, including the cities of Delhi and Gujarat, and the state of Rajasthan. However, the fintech firm stated that it planned to expand to 100 physical branches “where users can access crypto products” by…

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Video: Printing Is The Plague, Bitcoin Is The Cure

In this episode of the Bitcoin Magazine Podcast, CK sits with Thib Maréchal to discuss the history of money printing and how Bitcoin offers humanity a solution to this great plague. Thib, who works at Bitcoin custody provider Knox, expands on his recent article for Bitcoin Magazine on seigniorage, the long history of money printing and the importance of Plan B. “In this brief essay, we will try to dissect the fundamentally flawed nature of alternative digital currencies, observe bitcoin as a pragmatic monetary evolution in contrast to shitcoinery’s ‘technology…

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The number of Bitcoin whales hit an all-time high during the latest bull run

Bitcoin whales own almost 8M Bitcoin and do not appear to be in a hurry to sell. The number of Bitcoin (BTC) whales reached a new all-time high amid last week’s price ascension. On October 20, there were 2,178 Bitcoin addresses that held at least 1,000 BTC. By October 25, this number increased to 2,231. At current prices, 1,000 BTC translates to approximately $13 million. Source: Glassnode. Based on this data, we can surmise that the whales control at least 2.23 million Bitcoin — a significant figure equivalent to 12% of…

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