Bitcoin Mining Rigs Struggle for Profits, Despite BTC's ...

Round up of Cryptocurrency News #2 Week 13/07 - 19/07

Round up of Cryptocurrency News #2 Week 13/07 - 19/07
So much has happened this week! We saw a capitulation point of bitcoin before bears took over and we saw the selling pressure push Bitcoin down toward the $9000USD mark then move back up above $9100USD So far it has been a stable hold, however we may see some more action within the coming weeks.
Widespread scamming within the Twitter-sphere, Youtube and other platforms as Bitcoin and other cryptocurrencies may seem like fair game. Cryptocurrencies providing big payouts for scammers without the ability for reversals of accounts. Remember if something seems too good to be true, do some research or just plain do not respond/believe it. Stay safe and careful with your funds!
On the brightside, there has been even more adoption of cryptocurrencies as rumours of Paypal utilising cryptocurrency has been confirmed as they are developing crypto capabilities. In addition to this we received exciting news at the start of this week about Binance partnering with Swipe (SXP) and offering a debit card to spend BNB, SXP, BTC and BUSD. ( I will be keeping a swift eye on BNB and Swipe as its utilisation as tokens has just increased 43 fold).
Positive news for the Bitcoin network as its hashrate reaches all time high which helps to secure the network further even though mining profits have dropped by 50% from the recent halving. If you didn't know already the last Bitcoin will be expected to be mined in 2140 with its difficulty ever increasing and each time securing the network further. Processing units will have to become faster, stronger and most importantly more cost effective to continue to entice miners for the block rewards and further renewable energy practices.
Furthermore we can see Central banks and countries discussing and developing Central Bank Digital Currencies (CBDC). Read more about it here and check out some of the developments in the world above. This shows the popularity and strong nature of cryptocurrencies. As the saying goes "If you cant beat them, JOIN them".
Overall, very solid week full of adoption, animation and anticipation. Another post next week for a weekly round up! See you then but in the mean time join us at our Gravychain Discord.
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Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates! - The Gravychain Collective: - My Crypto HQ:

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Posted on July 17, 2020 July 17, 2020 by Jamie Redman Posted in Markets Tagged Bitcoin, bitcoin-mining, BTC, BTC Hashrate, ByteTree, Cryptoquant, data, glassnode, Hoard, Hoarding, Miners, Miners' Position Index, Mining, Mining Operations, Mining Pools, outflow, outflow to exchanges, price, Q2 2020, Stats China Controls 50% of Bitcoin Mining While US Hits 14% — New Survey. https ... Lead Writer Jamie Redman Named One of the Best Crypto BloggersLead Writer at, Jamie Redman has made’s list of tw US Regulator Zeroes in on Binance Chain as SEC Awards Monitoring Contract to Ciphertrace - October 16, 2020 Jamie Redman Binance, Bitcoin, Bitcoin (BTC), Bitfinex, BitMEX, Bituniverse, BTC, btc deposits, BTC reserve status, Coinbase, Crypto Reserves, Exchanges, Glassnode, Huobi, June 30 2020, market rout, OKEx, outflow, Reserve Status, Trading Platforms. Cryptocurrency reserves held on digital asset exchanges have been dropping to new lows, as some of the top exchanges have seen ... by Jamie Redman. Oct 15, 2020 . Bitcoin Mining Rigs Struggle for Profits, Despite BTC's Hashrate Reaching an All-Time High ... $100 Million Accelerator Fund from Binance Now Supports PARSIQ, a ... Bitcoin Cumberland Mining Has ‘Won Big Bitcoin Auctions’ On May 23rd, TradeBlock announced that it is servicing an interesting trading company called Cumberland Mining. TradeBlock says it will be enabling an “order management system and... Jamie Redman 4 years ago Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and ...

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