Day: July 5, 2017

Hello and welcome to News BTC’s Market Outlook July 6. DASH/USD DASH continues to look very bullish in general, as we broke above the $200 level at one point during the day on Wednesday. Given enough time, the market looks as if it is going to finally break above there and make a fresh, new … Continue reading DASH/USD and LTC/USD Technical Analysis July 6, 2017

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Hello and welcome to News BTC’s Market Outlook July 6. ETH/USD The Ethereum market fell slightly during the session on Wednesday, breaking below the 260 level. However, there is enough support underneath that the $240 level to keep the market afloat as far as I can see, so I believe that buying small positions will … Continue reading ETH/USD and ETH/BTC Technical Analysis July 6, 2017

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Silicon Valley may no longer hold the monopoly in tech. Blockchain companies and libertarian migrants find peace in the tax-free and freedom-loving state of New Hampshire.

Hello and welcome to News BTC’s Market Outlook July 6. BTC/USD Bitcoin fell a bit during the Wednesday session, but continues to find support near the $2500 level. It looks as if the market is going to bounce from here though, and perhaps continue to grind towards the upside. I believe that the $2800 level … Continue reading BTC/USD and BTC/JPY Technical Analysis July 6, 2017

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I spend a lot of time talking with my friends in Turkey, particularly since the big change in climate after the protests last year. Nevertheless, from a financial markets point of view, it’s a fascinating place. One of the first to be contactless and, more recently, one of the first to offer social retail banking.

Skins can be simply described as the in-game alterations of visual appearance of items of characters that don’t influence actual gameplay. Skins were first introduced at Steam platform as rewards but soon turned into an economic phenomenon. The popularity of Skins has been such that it soon turned into a billion-dollar industry. The turnover of … Continue reading Blockchain Technology the Way to Ensure a Secure and Transparent Skin Trade Industry

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Key Highlights ETH price corrected a few points recently towards $268 against the US Dollar, but recovery was limited. There is a descending channel with resistance at $262 forming on the hourly chart of ETH/USD (data feed via SimpleFX). The pair might continue to decline and move towards the $250-245 levels in the short term. … Continue reading Ethereum Price Technical Analysis – ETH/USD Recovery Limited

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Key Highlights Dash price surged higher above the $200-210 levels versus the US Dollar, and performed a lot better than Bitcoin. There are two bullish trend lines formed with supports as $210 and $190 on the hourly chart of DASH/USD (data feed from Poloniex). The price currently looks set for more gains above the $220 … Continue reading Dash Price Technical Analysis – DASH/USD Outpaces BTC/USD

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Bitcoin price is consolidating in an ascending triangle pattern on its 1-hour chart, still deciding whether to bounce or break from resistance.

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Last May Bitcoin.com reported on how the Bitcoin network’s hashrate surpassed four exahash per second. Just two months later on July 1st, the hashrate has increased another two exahash which transcended to a high of 6,622,799,000 GH/s according to Blockchain.info and Bitcoin Wisdom statistics.

Also Read: Investment Funds That Offer Cryptocurrency Exposure See Big Gains

The Exahash Era: Bitcoin Hashrate Breaks Another Record

The first week of July is showing the vast power of the Bitcoin network as miners are currently processing transactions at a whopping 5,808,727,020 GH/s. On July 1st miners pushed the hashrate up over six exahash per second reaching it’s highest point ever recorded. The mining ecosystem is far bigger than during the early days, as miners progressed from CPU mining, GPU mining, FPGA Mining, to giant warehouses filled with ASIC miners.

Furthermore, there are far more mining pools today, as there are currently 24 known pools taking a portion of the hashrate pie. Things are quite different than the early days when one single bitcoin enthusiast like Artforz captured a significant portion of the network’s hashrate. People also often forget when the mining pool Ghash.io passed the 51 percent mark in 2014, as pools in 2017 are more diversified than ever before. Only three pools command more than ten percent of the hashrate while the other 21 pools process less than ten percent.

Hashrate Has Jumped Leaps and Bounds Since 2009

The two exahash increase over the past month and a half has coincided with bitcoin’s rising fiat value, increased demand and mining revenue at all-time highs. Moreover, mining revenue has increased while the block reward has decreased since 2009’s first fifty BTC reward to 12.5 BTC per block, with the reward expected to continue to halve approximately every four years. In September of 2013, the hash rate had only hit one petahash per second, so the hashrate is expanding significantly yearly. The six exahash record also comes only one year and six months after the network topped one exahash or 1000 petahashes per second.

A Pure and Voluntary Economic Incentive Continues to Amass Significant Power

The exponential rate growth will someday surpass the exahash era (exabytes) and could reach zettabytes or even yottabytes per second. This will likely take many years as 500 exabytes is only one-half of a zettabyte.

The record-breaking six exahash is another landmark achievement for the Bitcoin network as the innovative protocol has reached many milestones this year. It’s an amazing feat to see such power obtained without a large corporation or government backing. All of the hashrate power is commanded by miners choosing to join the decentralized system voluntarily, all thanks to the economic incentive of the block reward plus transaction fees.

What do you think about the Bitcoin network’s hashrate surpassing six exahash per second? Let us know in the comments below.

Images via Pixabay, and Blockchain.info.

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New York, NY– July XX, 2017- investFeed, a leading community platform for financial investing and social networking, has announced their whitepaper detailing plans to transition to Blockchain cryptocurrencies, assets and projects. This would be the world’s first, next-generation cryptocurrency social network, providing social feeds, streaming market data, technical analysis, sentiment analysis, multi-asset type wallet integration … Continue reading investFeed Announces pre-Sale ICO and Whitepaper Detailing Transformation to Ethereum Blockchain Cryptocurrency Social Investment Network

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Seasoned stock picker Ronnie Moas thinks that Bitcoin price will increase by twofold up to $ 5,000 in 2018, and will eventually hit a staggering $25,000-50,000 in the next 10 years, Bloomberg reports.