Syscoin rescheduled its release date

According to the Update 3.0 Syscoin has rescheduled its platform release date from March 27 to April 30 due to regulation compliance.
13 April 2018   690

Syscoin in its Update 3.0 has notified that in March several regulatory developments occurred that are applicable to both Blockchain Foundry and Syscoin. Specifically, on March 7 SEC released the statement “Statement on Potentially Unlawful Online Platforms for Trading Digital Assets”.

A number of these platforms provide a mechanism for trading assets that meet the definition of a ‘security’ under the federal securities laws

 

Excerpt from the statement

Blockchain Foundry was working on defining that Syscoin is not a security. Syscoin was advised to introduce a new level of of complexity and functionality into our protocol. The analysis will ensure that Syscoin remains actively listed and traded at all exchanges who are taking compliance seriously. Syscoin is going to stay a credible player in the space so being compliant is of paramount importance. The additional time will allow Syscoin to perform additional security and performance testing while the analysis is being complete.

Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions like Bitcoin and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. At the moment of publication, Syscoin market parameters are as follows

  • Average price: $0.346734
  • Market cap: $184,556,039
  • Volume (24H): $4,524,220

 

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   63

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.