I’m the guy that got scammed for 200k tether from Twitter. Here are the details: Scammer: lin_cutekiller Dapp: eth-coin dot info Transaction hash: 0xaaf1448c918aed5345fa521cac36e327b22fcccb3437f3cf786ddb211112d7f4 Bounty: all of it is yours unless you have some sympathy and want to kick back some to me. Have at it I’ve definitely learned my lesson. Although it won’t help…
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Is the code to setup a Ravencoin mining pool open-source? It appears easy enough to setup a node, but I can find little/no information on actually setting up a pool. I have also heard some community members express concerns with the large pools "monopolizing" some of their stratum code to prevent competitors. This causes small…
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Blockdata’s report suggests that the Bitcoin network could potentially match the dollar value transferred on Mastercard’s network as early as 2026, or as late as 2060.
Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
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We provide over 100+ FREE crypto articles on our SubStack! 😀 (Link on our profile). This is not financial advice. TLDR: Recently, the cryptocurrency market has become more and more exciting because of the rapid increase in the number of new participants. In the current situation of extremely low bank interest rates, more and more…
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I'm a dad of two small kids. I have no special skills, I don't have wealthy parents, good job, haven't got a single relative who would care enough for me to hook me up with a better job or anything, I got no real estate, stocks or anything like that. Its my own fault. I…
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U.S. Senator Sherrod Brown has sent letters to cryptocurrency exchanges and stablecoin issuers, including Coinbase, Gemini, Binance, and Tether, asking how they are protecting consumers and investors. “I have significant concerns with the non-standardized terms applicable to redemption of particular stablecoins,” the senator said. US Senator Raises Concerns Regarding Stablecoins U.S. Senator Sherrod Brown (D-Ohio), […]
The Ethereum network has been burning ETH since the EIP-1559 first went into effect in early August. Since then, a portion of fees has been continuously burned, taking a large portion of the digital asset out of circulation. This hard fork had been implemented to combat the inflationary nature of Ethereum and it has been successful as countless blocks have been deflationary since the hard fork took place. ETH Burned Clocks 1 Billion The amount of ETH burned has risen along with fees on the network. Increased network usage had caused transactions costs on Ethereum to skyrocket and since EIP-1559 was implemented to burn a third of all fees, a higher volume of ETH has been constantly taken out of circulation. The number had quickly hit 1 million ETH, then 10 million, and by 100 million, the community had turned its eyes towards the billion mark. Related Reading | Institutional Buys Will Put Bitcoin At $500,000 In Five Years, Cathie Wood Ethereum hit this number on Wednesday when the total number of ETH burned on the network had crossed 1 billion. It only took a little over three months to hit this number and as burning ramps up on the network, it may take even less time to hit the 2 billion mark. At the current ETH price, the total amount of ETH burned comes out to over $4.2 billion. Prior to EIP-1559, all this volume would have gone into circulation, increasing the amount of circulating ETH, contributing to the inflationary nature of ETH. However, with the burn, Ethereum is headed towards a truly deflationary future. Impact Of Ethereum Burn Although Ethereum is not fully deflationary, the impact of the ETH burn has shone through the network in recent times. Some interesting stats show that ETH being put into circulation per mined block has reduced significantly. Since the hard fork, the net reduction has reached as high as 67.16%. Related Reading | Why This Crypto Billionaire Abandoned Ethereum Additionally, net issuance has also dropped in line with net reduction. Net issuance on the Ethereum network is currently sitting at 490,400 at the time of this writing. There have been 1,493,739 ETH rewards issued, translating to a little over $6.3 billion. While tips on the network have done significantly well, with over 200,000 ETH tipped so far, totaling $846 million. How Price Has Done In Contrast Ethereum’s price has done tremendously well since the burn began. Since August, the digital asset has hit multiple new highs and come close to testing the $5,000 resistance point. The asset has since taken a beating down along with the rest of the crypto market but it has held up above $4,000 despite bears trying to pull the price down. ETH recovers after dip | Source: ETHUSD on TradingView.com Indicators have remained bullish even when the market has not fared so well. Analysts have put the digital asset at $5,000 by year-end, propelled by the growth of DeFi. As more investors flock to the blockchain to take advantage of this new industry, Ethereum shows great promise of hitting this price before 2021 runs out. Featured image from Genesis Block, chart from TradingView.com
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