Сourt to Acquit Japanese Hidden Miner

Japanese web designed used Coinhive for hidden minning with computers of his website visitors; prosecutors offered to charge the accused a fine of $ 904k
29 March 2019   568

The Yokohama District Court acquitted the 31-year-old website designer accused of illegal mining of cryptocurrencies through the Coinhive program. This is reported by Japan Today.

Prosecutors offered to charge the accused a fine of 100 thousand yen ($ 904,000) for running the program without the consent of users, using the computing power of their computers and increasing electricity consumption.

However, the presiding judge stated that they had failed to gather enough evidence to declare the defendant’s actions “socially unacceptable”. It was also not proven that the program is a virus and was used to damage personal user data.

Thus, the web designer was fully justified.

The investigation of this case began in June 2018. In addition to the web designer, two more suspects went through the case, one of whom still had to pay a fine of 100 thousand yen "for illegal posting of the virus."

According to the University of Aachen, in 2018, mining using Coinhive brought 1271 XMR per month (about $ 250,000 at that time). Monero was the most popular currency for browser mining. At the same time, most of the funds obtained were controlled by only 10 users.

On March 8, 2019, Coinhive ceased operations due to the “economic viability of the project”.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   110

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.