Bitcoin reached a fresh milestone this week spil the 420,000th block wasgoed mined and the mining prize wasgoed halved from 25 BTC to 12.Five BTC. Other stories added their own schouwspel this week, all of which carry consequences for the bitcoin community: HashOcean cloud mining shows up to have closed down, leaving investors te the lurch, the E.U. is considering extensive regulation for money transfer businesses and prepaid cards, te the hopes of blocking funding for terrorism, and central banks around the world are wreaking all sorts of havoc on domestic fiat currencies.
Compiled from contributions by Jamie Holmes and Lori Brown
The Halving: What Bitcoin’s Block Prize Milestone Means
On July 9th the 420,00th block of bitcoin’s blockchain wasgoed mined, meaning the prize for mining blocks on the blockchain has bot diminished for the very first time since 2012. Because of the halving, prices have begun moving up for BTC ter respect anticipation of the lower prize for blocks mined. There is much to be considered now te regards to where BTC’s price will go from here.
Bitcoin Trading at a Discount on Venezuelan Exchange, Dragging BTC-USD Lower
Latest news ter Venezuela has contributed to a scare sell-of of BTC ter that country, where it has bot trading at a significant discount. However a multiplicity of reasons have contributed to the lower price, the longer-term view is that this is just the begin of a downward trend.
E.U.’s Latest Anti-Terrorism Communication Targets Digital Currency
Communication from the European Commission to the European Parliament and Council has made recommendations intended to help identify hidden terrorist funding through the requirements of numerous forms of individual information. The two main targets for the activity are the prepaid card market and the “anonymous currency exchanges,” which both wield obstacles for the Commission.
How Bitcoin Stands to Build up from “Currency Wars” Among Central Banks
Thanks to ‘easing’ monetary policies, there is potential to drive further divergence inbetween bitcoin and fiat currencies, and to boost bitcoin’s value overheen the long-term. Bitcoin and other decentralized virtual currencies will stand to build up spil the thresholds on the extent of the money supply prevent debasement of its value. This feature of bitcoin stands ter stark tegenstelling to the way that central banks can artificially inflate or deflate the value of fiat currencies.