Category Archives: Crypto Currency

Tom Lee Reports Bitcoin Mining Now Less Profitable

A recent report by Fundstrat’s Tom Lee notes that Bitcoin (BTC) mining earnings are currently almost breaking even, as the activity has temporarily become less profitable the midst of the current decline in the markets, CNBC reported yesterday, March 15. Lee notes in the report that the current figure for the cost of mining one bitcoin is $8,038, while BTC is trading at around $8,221 by press time, down a quarter of a percent over a 24 hour period, according to data from CoinMarketCap. Continue reading Tom Lee Reports Bitcoin Mining Now Less Profitable

Different Types Of Cryptocurrency Algorithms

The Most Common Cryptocurrency Mining Algorithms are as follows:-

SHA-256 Algorithm:

SHA stand for “Secure hash Algorithm” (SHA-256) generates unique 256-bit (32-byte) signature for a text string. Block processing time for SHA-256 generally ranges from six to ten minutes and requires hash rates at the Giga hashes per second (GH/s). SHA-256 hash rate is measured by GH/s: Gigahashes per second, or one billion hash computations per second. SHA-256 algorithm mining can be performed on an ASIC hardware (application-specific integrated circuit) Continue reading Different Types Of Cryptocurrency Algorithms

Lightning Labs Launches Beta With Twitter CEO Backing

A version of bitcoin’s much-anticipated Lightning Network is finally ready for real users. Announced today, California startup Lightning Labs has officially launched a beta version of its software (LND), making available what investors and project leads say is the first thoroughly tested version of the tech to date. This means that users can now leverage LND to send bitcoin and litecoin to other users, all without settling those transactions on the blockchain. Continue reading Lightning Labs Launches Beta With Twitter CEO Backing

Bitcoin App Abra Adds Support for 70 Cryptocurrency and Fiat ‘Stablecoins’

Mobile Bitcoin wallet Abra has unveiled its new trading platform that lets users invest in 20 cryptocurrencies and 50 fiat currencies in the same app that they use to manage their BTC. Abra announced on Thursday that the latest version of its mobile app now includes support for a total of 70 currencies as a real-time exchange service across all currency pairs. The company says it is the “only all-in-one smartphone app in the world with these capabilities.” Continue reading Bitcoin App Abra Adds Support for 70 Cryptocurrency and Fiat ‘Stablecoins’

Brazilian Prison System Officials Caught in $22.4 Million Bitcoin Fraud

According to Brazilian news outlet Agência Brasil, authorities in Rio de Janeiro recently uncovered a money laundering scheme in which state officials misstate the budget spent on food for state-run prisons. Bitcoin was reportedly used to exchange some of the scheme’s proceeds, which totaled roughly $22.4 million. After the scheme was discovered, search warrants were issued to 28 different sites, with seven people having been arrested so far. Among those arrested are Rio de Janeiro’s former state secretary of Prison Administration, coronel Cesar Rubens Monteiro, and delegate Marcelo Martins, director of the Department of Specialized Police of the Civil Police. Continue reading Brazilian Prison System Officials Caught in $22.4 Million Bitcoin Fraud