Mint Exchange Service for Newly Mined Coins Rebuffs Bitcoin’s Fungibility
In a rebuffal of bitcoin’s fungibility, Dutch API-provider BlockTrail yesterday launched its Mint exchange, which swaps “old” coins for newly mined ones. In a first of its kind, users can buy bitcoins that came straight from a mining pool, and therefore have the shortest possible transaction history of any coins on the open market. BlockTrail believes that freshly mined coins – coins that are awarded to the miner of a new block through the coinbase transaction – are worth more than used ones. This is because these coins can be easily traced back to the Mint and the mining pools, which in....
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The recent Craig Wright-Satoshi Nakamoto debacle has spurred a new discussion as to what should happen with the coins mined by the mysterious Bitcoin creator. Theymos, the owner of BitcoinTalk, feels these coins should be destroyed to “prevent disastrous monetary inflation.” Bitcoin aficionados will know that, when Bitcoin was first launched, only....
Paypal bought up to 70% of all the newly mined bitcoin since the payments giant started offering cryptocurrency services four weeks ago. Now that’s according to estimates by hedge fund manager Pantera Capital, as revealed in its latest monthly blockchain letter. Together with Square’s Cash App, the two companies are buying more than 100% of all newly issued virgin bitcoin (BTC), it says. The letter said demand for Paypal’s crypto service, which runs on Paxos fiat-to-crypto exchange, Itbit, had hit the roof. The exchange “was doing a fairly constant amount of trading....
Mint, the free, web-based personal finance management service, just announced today that users can now link their Coinbase accounts to their Mint accounts. Mint's product manager Vince Maniago stated, “There are now 12 million Bitcoin in circulation and 60,000 merchants accepting it via Coinbase… We felt like it was something we couldn’t ignore anymore, and this is a good time to go out and support the currency as it becomes more legitimate.” Mint users can keep tabs on how many Bitcoins they have, and to keep things simple, this amount is displayed in US Dollars. However, Mint isn’t....
The Scaling Bitcoin conference, held at the Politecnico Milan, returned for its third iteration this weekend, with the focus throughout the speaking slots and workshops shifting away from scaling alone. Emphasizing that Bitcoin faces a more diverse set of challenges, this year’s edition of the technical conference included a broad range of topics. Chief among them was fungibility — the idea that each bitcoin should be as valuable as any other bitcoin, regardless of transaction history. The tone for this third Scaling Bitcoin edition was set with the workshop’s first overview presentation....