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Friday, April 27, 2018

Fwd: Bitcoin milestone


---------- Forwarded message ----------
From: CoinDesk Daily <newsletter@coindesk.com>
Date: Thu, Apr 26, 2018 at 9:09 AM
Subject: Bitcoin milestone
To: joaoa.desilva2018@gmail.com


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April 26, 2018

"Praise, like gold and diamonds, owes its value only to its scarcity."
― Samuel Johnson

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THE FEATURE

The 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters

Bitcoin's limited supply just got a bit more limited.

Earlier today, the 17 millionth bitcoin was mined, data from Blockchain.info shows, a development that marks yet another milestone for the world's first cryptocurrency. That's because as per bitcoin's current rules, only 21 million bitcoin can ever be created.

Stepping back, the milestone, the first million-bitcoin marker to be crossed since mid-2016, is perhaps noteworthy as yet another reminder of the technology's core computer science achievement -– digital scarcity. In short, bitcoin's code, since cloned and adapted by scores of other upstart cryptocurrencies, ensures that only a set number of new bitcoins are introduced to its economy at intervals. 

As such, it's perhaps best to view this event as a "psychological barrier," Tetras Capital founding partner Alex Sunnarborg told CoinDesk, one that is interpreted differently by different communities.

Sunnarborg, for example, sought to stress that another way to interpret the result is that 80 percent of all the bitcoin that will be ever created have now been mined. In other words, only about one-fifth of the eventual supply remains for miners and future buyers.

Others see the milestone as one that's ripe for appreciation of the technology and its achievements.

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Wait, there's more:

Samsung Sets Q1 Profit Record with Crypto Mining Boost
Samsung has seen record growth in quarterly operating profits – an increase driven in part by strong demand for cryptocurrency mining chips.

Bitcoin Risks Deeper Pullback After Drop Below $9K
After hitting a one-week low today, bitcoin risks a deeper pullback if support at $8,459 is breached, the technical charts indicate.

IBM Partners with Jewelry Industry on Hyperledger Supply Chain Project
IBM has teamed up with major jewelry businesses to bring transparency to the industry's supply chain with blockchain technology.

Parity Says 'No Intention' To Split Ethereum Over Fund Recovery
Parity Technologies has said it has no plans to move forward with a code change that would result in an ethereum blockchain split.

Coincheck Owner Monex Plans Proprietary Blockchain, ICO
The new owner of Japan's Coincheck exchange, Monex Group, says creating its own blockchain with an ICO to follow is on its radar.

Barclays, Goldman Champion ISDA Standard for Blockchain Derivatives
U.K.-based bank Barclays is pushing hard for a data standard for derivatives, as a foundation for that market to adopt distributed ledger technology.

Binance Exchange Denies Sequoia Allegation of Exclusivity Breach
Crypto exchange Binance has denied an allegation that its founder breached an exclusivity agreement with VC firm Sequoia Capital.

SBI Backs Token Exchange Templum's $10 Million Funding Round
Japanese investment giant SBI Holdings has added an initial coin offering (ICO) platform startup to its cryptocurrency portfolio company.

The 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters
17 million done, four million to go.

Crypto Exchange Gemini to Monitor Trading Using Nasdaq Tech
Gemini plans to monitor its exchange for potential illicit activities using Nasdaq's SMARTS Market Surveillance technology.

Fitch Ratings: Blockchain Is a Potential 'Game-Changer' for Insurers
Fitch Ratings published a report Wednesday noting that blockchain can be a long-term solution to issues facing the insurance industry today.

Digital Currency Group Adds Zcash Offshoot ZenCash to Crypto Investment List
The fork of a fork of zcash made it onto Digital Currency Group's "conviction list."

Cisco Claims New Patent Could Apply to Bitcoin Mining
A Cisco patent suggests that internet customers would be able to create a distributed mining pool through a proprietary cloud application.

US Congressman: 'Race to Regulate' Won't Solve Crypto Fraud
While fraud and 'bad actors' are a concern in the crypto industry, US Rep. Patrick McHenry says Congress should not rush to regulate.

Nasdaq 'Would Consider' Creating a Crypto Exchange, Says CEO
The CEO of Nasdaq suggested Wednesday that the company could open a cryptocurrency exchange in the future.

Crypto Exchanges Pause Services Over Contract Bugs
A pair recently-published bugs allow an attacker to create an inordinate number of ERC-20 tokens

EOS Is Nearing An All-Time Price High
EOS is largely bucking the downtrend in the wider crypto market and may hit fresh all-time highs soon, according to technical analysis.

Two Big Crypto Startups Are Out to Build One Universal Wallet
The two startups are offering developers $50,000 to build a wallet that would support almost any token, even those that haven't been created yet.

Compliant Airdrops Are Here: CoinList to Offer Investors Free Crypto Giveaways
The company has worked on token distribution and fundraising so far, but its latest product focuses on giving away tokens to spur user adoption.

$10K on Hold As Bitcoin Sees Price Pullback
Having rallied more than 50 percent this month, bitcoin is today witnessing pullback.
Go to CoinDesk


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